Aberdeen Standard Investments (ASI) has nabbed Manuela Fumarola from M&G to increase ESG expertise in its private markets and real estate team.
Fumarola (pictured) has joined ASI as an ESG manager responsible for developing, embedding and overseeing ESG strategies for private equity, infrastructure and private lending assets.
She was previously a private equity associate at M&G where she led on integrating ESG into the investment process.
Fumarola will report to ASI head of ESG for private markets and real estate Dan Grandage and will work alongside the private markets ESG and investment teams to provide insight on trends, manager selection and client ESG reporting.
ASI global head of real estate and deputy head of private markets Neil Slater said: “This is a key strategic area for our organisation and embedding a highly talented ESG team is critical for large private market players such as ASI.
“As demand grows for sustainable investment products and solutions within private markets and real estate, Manuela will be a fantastic addition to our team as we work to further consolidate our ESG offering.”
He added that with the recent announcement of ASI’s net-zero carbon framework for real estate, the hire demonstrates its commitment to integrate an embedded ESG approach within its private markets investments.
Fumarola said: “This is a great opportunity for me to draw on my ESG expertise in private markets and support ASI with its sustainable investing approach. I’m looking forward to working closely with the team to build a market-leading ESG strategy for ASI’s private markets function.”
ASI manages about £60bn in private markets assets. Two of the asset manager’s real estate funds were suspended last year, as material uncertainty clauses forced property funds to close. The £1.38bn Standard Life Investments UK Real Estate and £687m Aberdeen UK Property funds reopened in November, as ASI looked to develop its real estate arm buying up a 60% stake in real estate investment trust manager Tritax.
