Management Board
INREV's management board guides the association’s strategy. The management board meets regularly to discuss and address industry developments. Many management board members also participate in INREV’s committees and working groups.
Lucy Fletcher
Chair
Lucy Fletcher
Chair
Lucy Fletcher is a Fund Manager within CBRE Investment Management’s Indirect Private Real Estate team. Based in Boston, Lucy is responsible for fund strategy and performance.
Prior to joining CBRE IM in 2024, Lucy was Managing Director, Global Head of Portfolio Management at QuadReal Property Group, the real estate investment arm for BCI (British Columbia Investment Management) for over seven years. Her responsibilities included strategic portfolio construction, liquidity and capital allocations, performance analytics, investment risk and relations across the firm’s global real estate debt and equity portfolio.
Lucy has 27 years’ experience in global real estate and previously held senior roles at JLL in Chicago and Bank of America Merrill Lynch in Asia Pacific. Lucy has lived and worked in a global capacity since she started her career. Lucy has been based in London, Paris, Hong Kong, Vancouver, Chicago and Boston.
Lucy earned a master’s degree in architectural design from the University of Edinburgh and a postgraduate diploma from South Bank University in London, U.K. Lucy is also a Member of the Royal Institution of Chartered Surveyors.
Jessica Hardman
Vice-Chair
Jessica Hardman
Vice-Chair
Jessica Hardman is CEO and Co-Founder of Aboria Capital, with over 20 years of experience in real estate investment. Aboria Capital is a vertically integrated partner for investors in European operational asset classes with a special focus on the European Living sector market.
Prior to launching Aboria Capital, Jessica has enjoyed a successful, varied career with Deutsche Bank and DWS; first leading transaction teams culminating in €12 billion of transactions and subsequently running European fund management for international investors. Jessica was a pioneer and trusted portfolio manager for the wave of inward capital flows from Asian institutional clients from 2011. She built a multi-billion assets under management (AuM) business for Deutsche Bank, utilising her skills in business building, leadership and investment solutions. In 2023 Jessica became the CEO of DWS UK, overseeing 500 staff and over €200 billion AuM across Global Alternatives and Passive public market strategies.
Jessica was also a former President of the British Property Federation and sits on the new board for Real Estate UK industry body.
John Ravoisin
Treasurer
John Ravoisin
Treasurer
John Ravoisin has been an Audit Partner at PwC Luxembourg since 2009.
As Audit Partner he oversees complex multi-border consolidation audit engagements under Luxembourg GAAP and IFRS, a number of which are trading under INREV NAV.
John is also the Real Estate leader at PwC Luxembourg, he is graduated from Solvay Business School (ULB) in Belgium and is actively involved in INREV (treasurer and Board member) and has been the chairman of the INREV Reporting Committee for more than 4 years. John is also co-chairing the Global Standards Steering Committee which is trying to align reporting standards between Asia, Europe and the US.
Jaap van der Bijl
Secretary
Jaap van der Bijl
Secretary
Jaap van der Bijl is CEO at Altera Vastgoed since 2016.
Jaap previously worked as managing director investor relations at Syntrus Achmea RE & Finance from 2013 until 2016, as senior head Northern Europe at AXA Real Assets from 2008 until 2013, and as director investor relations at Achmea Vastgoed from 2002 until 2008.
Before this he held various senior management positions at Achmea Pensions & Insurance, PVF pension fund service provider, employee benefits service provider for industry sectors and UWV social security.
Jaap was member and Chair of the INREV Fund Manager Advisory Council between 2020 to 2024, member of the INREV Operation Real Estate Committee in 2023 and member and Chair of the INREV Due Diligence Committee between 2013 and 2019.
Alberto Agazzi
Alberto Agazzi
With Generali since 2005, Alberto Agazzi currently serves as Head of Generali Real Estate International, overseeing the real estate investment and portfolio management activities in the USA, UK and APAC markets.
Prior to this role, he served for nine years as CEO and General Manager at Generali Real Estate SGR, managing the Pan European fund management activities with an AUM in excess of €15 billion.
Alberto joined Generali from Mediobanca, where he worked in the Real Estate Advisory team. He began his career in Milan with an engineering company as Project Manager.
A profound expert in the international real estate markets, over the years he served on the Board of Directors of several real estate private companies.
He received an undergraduate degree in Building Engineering from Politecnico di Milano and an MBA from SDA Bocconi.
Alberto is Deputy Chairman of Assoimmobiliare, the Italian real estate association.
Amilcar Grot
Amilcar Grot
Amilcar Grot is a Senior Portfolio Manager at a.s.r. real assets investment partners, focusing on real asset investment strategies and portfolio management.
Previously, Amilcar was Senior Portfolio Manager Real Estate at Achmea Investment Management, responsible for the indirect real estate portfolio and separate managed accounts. Before that, he managed the global real estate portfolio for the KLM pension funds at Blue Sky Group.
Amilcar has extensive international real estate investment experience and a strong track record in real estate portfolio management. He is currently a member of the Management Board of INREV and has previously served on the AFIRE Board, chaired the INREV Due Diligence Committee, and been a member of the INREV Investor Advisory Council.
He holds an MBA from London Business School and is a CFA and CAIA charterholder.
Dennis Lopez
Dennis Lopez
Dennis Lopez joined QuadReal as CEO in June 2017. QuadReal is a global real estate investment, operating and development company, with assets under management of $98 billion. His mandate is to create a market leading, global real estate investment firm that delivers strong performance and responsible management to its stakeholders.
Dennis has been actively involved in real estate for over 30 years and has worked in the Americas, Asia and Europe. He has significant experience in real estate M&A, acquisitions, lending, developments and capital fundraising in both the public and private markets. Prior to joining QuadReal, Dennis was CIO of AXA IM – Real Assets, the fifth largest global real estate investment manager, based in Paris. In his combined roles at QuadReal and Axa, he has approved over $100 billion of acquisitions and loans.
Previously, he served as the CEO of SUN Real Estate Group, a private equity firm based in Delhi and Moscow. He was Global Head of Real Estate at Cambridge Place, a London based hedge fund. And he was Managing Director and European Head of Real Estate Investment Banking at JP Morgan in London.
Dennis is currently a board member of Welltower (NYSE: WELL), CA Student Living, and T5 Data Centers. He is also a board member of the Association of Foreign Investors in Real Estate (AFIRE). Previously, he was a board member of American Campus Communities (NYSE: ACC), Homex (NYSE: HMX), Ranger Global Real Estate Advisors, the Pension Real Estate Association (PREA) and Co-Chairman of the Capital Markets Committee at The Real Estate Roundtable.
He holds a BA from California State University Long Beach and an MBA from the University of California Los Angeles (UCLA). Dennis is based in Vancouver, Canada, at QuadReal’s head office.
Jerome Berenz
Jerome Berenz
Jerome Berenz has 25 years of experience in investment management. He joined Allianz Real Estate—now PIMCO Prime Real Estate—in 2007 and has since held several senior roles across finance and risk management.
He has been serving as Head of Indirect Investments since 2017 and, as a member of the senior leadership team, is involved in initiating and supporting cross‑platform strategic initiatives.
Jerome is a CFA charterholder and holds a Master of Finance as well as a DESS in Telecommunications from Université Paris‑Dauphine.
John O'Driscoll
John O'Driscoll
John is Global Co-Head of Real Estate at BNP Paribas Asset Management Alts, the alternative investments platform of BNP Paribas Asset Management. BNP Paribas Asset Management Alts (“BNPP AM Alts”) is the largest alternatives asset manager in Europe and a global leader, with approximately €300 billion in assets under management across Real Estate, Infrastructure, Alternative Credit and Private Equity.
As Global Co-Head of Real Estate, John’s responsibilities include overseeing the sourcing, selection and management of real estate investments. John serves as Chair of the Real Estate Investment Committee and Strategic Investment Committee, a key forum for setting investment strategy and sector convictions. He is a member of the Management Board of BNPP AM Alts.
John joined BNPP AM Alts (formerly “AXA IM Alts”, which later became BNPP AM Alts following the acquisition of AXA IM by BNP Paribas in July 2025) in 2018, from global real estate advisory services firm JLL, where he was CEO of Corporate Finance and Head of Mergers & Acquisitions for the EMEA region since 2014. Prior to JLL, John spent eight years at Deutsche Bank where, having joined as an Associate in 2006, he was promoted through to EMEA Head of Real Estate, Gaming and Lodging M&A. John joined Deutsche after four years in the EMEA Real Estate Investment Banking team at J.P. Morgan Chase & Co.
John has over 23 years of experience in the international real estate investment banking and advisory industry.
Keith O’Donnell
Keith O’Donnell
Keith is a founding Partner and Managing Partner of ATOZ.
A tax professional since 1988, Keith has experience in advising international groups on the design and implementation of global tax strategies. He was instrumental in designing pan european RE fund structures that are widely used today. He is actively involved in several key tax international bodies. Keith is chairman of the Luxembourg chapter of IFA, chair of the ALFI Tax Commission and member of other Luxembourg advisory and industry bodies. Keith is also a Tax and board member.
Keith is a regular author and speaker at professional and academic conferences. He studied law then qualified as a Tax Adviser and a Chartered Accountant in Ireland and Luxembourg and has completed numerous post-qualification lifelong learning education programmes.
Keith is a board member of Luxembourg Art Week, the Executive Club of Luxembourg and a number of private companies.
Mahdi Mokrane
Mahdi Mokrane
Mahdi is Co-Head of Fund Management at PATRIZIA, heading up the real estate fund management team. In addition, he serves as CIO Europe ex-DACH, in a role that serves as an important on the ground interface between clients and PATRIZIA, both overseeing our regional investment strategies and contributing to product development. He joined PATRIZIA early 2020 as Head of Global Investment Strategy and Research and Investment Solutions. Based in London, he oversees the firm’s real estate investment strategies, fund execution and investment performance. Mahdi sits on PATRIZIA's Global Investment Committee and is a member of the Client and Product Committee and chairs the Board of Directors of PATRIZIA Global Partners.
Previously, Mahdi worked at LaSalle as a European Board member, leading the European strategy and research team and sitting on LaSalle's investment and allocation committees for debt and special situations, as well as private direct funds and listed real estate. Mahdi has held senior positions at AEW, MSCI IPD, ESSEC Business School and Caisse des Dépôts. He is also a regular keynote speaker at global real estate events.
Mahdi holds a PhD in Economics and Finance from EHESS (France) and the LSE, a Master's degree in Financial Economics from Dauphine University and sits on the board of INREV, having been a long-standing active member of the association (since 2004 – research committees, risk style definitions, capital raising survey and INREV courses), ANREV and NCREIF.
Minna Merilainen
Minna Merilainen
Minna Merilainen is currently responsible for real estate investments and infrastructure debt investments on behalf of CNP Assurances SA, a major French life insurance company.
Prior to joining CNP in 2012, Minna held various senior-level positions within other large European insurance companies, international asset managers and advisory firms in Paris, London, New York and Chicago. Minna holds a Master of Science in Real Estate Investments degree from New York University, as well as an MBA from the Helsinki School of Economics and Business Administration.” She is also a member of “Cercle de Femmes d’Immobilier” in Paris and was previously a member of the INREV Investor Advisory Council.
Robert-Jan Foorste
Robert-Jan Foorste
Robert-Jan is the Head of European Property Investments and a member of the Investment Committee at APG. He joined APG (then ABP) in December 2002. From 2003 to 2007, he was responsible for all of APG’s real estate investments in the Asia-Pacific region, overseeing both listed property securities and non-listed private real estate funds.
As APG expanded its presence in Asia, Robert-Jan gradually transferred his responsibilities to the newly formed team in Hong Kong, enabling him to assume the leading role in the European property investment team from early 2008— a position he continues to hold today.
With more than 30 years of experience in real estate, Robert-Jan previously served as Director of Real Estate Corporate Finance at Arthur Andersen before joining ABP.
He holds a Master’s degree in Financial Economics from the Vrije Universiteit Amsterdam and a Master’s degree in Real Estate from the University of Amsterdam.