Allianz Real Estate has appointed Fulvio Delaiti as head of asset management for its Italian division based in Milan.
Delaiti joins Allianz from the Italian real estate company Kyralos, where he worked as the firm’s asset management director – office for nearly two years and later as the company’s fund management director for more than two years. Formerly, he worked during seven years at GE Capital, the financial services unit of the American multinational conglomerate General Electric, first as a senior asset manager and later becoming head of asset management.
Kryalos, with € 4,5bn of assets under management and a specialised team of 45 professionals with expertise in the real estate industry (office, retail, shopping centres and outlets, logistics, hotels and residential), is one of the leading and most active players in the Italian real estate market.
Allianz Real Estate develops and executes real estate portfolios on behalf of the Allianz companies, including both direct and indirect investments and longer-term senior commercial real estate loans.
Allianz’ real estate portfolio grew by €8.9bn last year of which €5.2bn in equity and €3.7bn in debt investments. Allianz Real Estate now manages €56bn in assets globally.