18 June 2020 10am – 11am Webinar Webinar

Click here to view event materials, including slides and a recording of the webinar. 

This is the second phase of an industry-wide project conducted in collaboration with INREV. 

This briefing call, open to AREF and INREV members, will introduce the recently launched Consultation Paper, offering insights into the complexities around the pricing of institutional open end real estate funds. The paper includes a highly relevant section relating to pricing policy during exceptional market circumstances, introduces a practical set of recommendations for investment managers to consider for active monitoring and governance of pricing models and their assumptions.

The paper seeks to ensure that pricing models are designed and implemented to deliver fair and transparent outcomes for all investors. The recommendations are also aimed at facilitating the development of larger scale ODCE vehicles.

Members are invited to give feedback on the paper.

For more information on the consultation paper, members are invited to join this briefing call.

Read more about the Open Ended Fund Pricing Project and download the Consultation Paper and Feedback Form by visiting the project page here.



  • Nick Brown, Finance Director at M&G Investments
  • John Forbes, Independant Consultant, John Forbes Consulting
  • Robert White, Partner at EY
  • John Ravoisin, Partner at PWC

Thursday 18th June 2020

10.00 Webinar start
11.00 Webinar end

Call details will be sent to attendees ahead of the call

This webinar is FREE and open to all staff from AREF Fund, Affiliate, Associate and Investor member firms (view our list of members here). This event is also open to future generation* staff. 


Nick Brown

Finance Director, M&G Real Estate

Nick is a Big4 trained Finance Director with extensive experience within both public practice and commercial environments. His expertise lie in providing financial and commercial oversight to investment intensive organisations that require strategic financial management to maximise IRR and mitigate risk including Funds, Real Estate and Infrastructure.

John Forbes

Independent Consultant, John Forbes Consulting

John Forbes is an independent consultant advising real estate investment managers, investors and others in the real estate industry in the rapidly changing areas of product development, governance and regulatory matters for real estate funds.  He has advised on the restructuring of high profile open and closed-ended real estate funds in the UK and elsewhere in Europe, as well as the establishment of new funds. He has advised service providers to the real estate investment management industry on the strategic implications of regulatory and other changes.  Prior to setting up John Forbes Consulting LLP in 2013, he spent over twenty-five years with PwC, where he led the firm's Real Estate Industry Practice in Europe, the Middle-East and Africa across all of the firm's services to the real estate industry.

John is the chairman of the Independent Supervisory Board of the UBS Triton Property Fund, independent chair of the Urban Splash Residential Fund and non executive chairman of Ginkgo Advisor UK Limited.

John Ravoisin

Audit & Advisory Partner, PwC Lux

John is a partner in the Audit/Advisory Practice specialised in Real Estate and Infrastructure mandates. He is involved in the management of the Real Estate practice of PwC Luxembourg. As an audit partner, John's focus is on real estate & infrastructure structures which publish consolidated financial statements in IFRS as well as INREV NAV.

John leads the Real Estate Advisory practice of PwC Luxembourg. In a context of constant evolution in the market practices and, in order to propose advanced solutions to PwC clients. This role involves actively driving the development of new solutions adapted to the changes in best practices and new regulations. Considering the important impact of AIFMD on the Real Estate industry, John supervises all the related key developments with a specific focus on valuation and risk management. 

Robert White

Assurance Real Estate Partner,, EY Lux

Robert is the Luxembourg Real Estate Assurance leader and Chairman of the EY Alternative Investment Funds Club. He is focused on providing assurance and advisory services to leading players in the financial services industry, with a focus on real estate investment vehicles.

Robert has in-depth experience in traditional and alternative investment structures including real estate, debt, private equity and UCITS funds. 

He has an Honors Degree in Commerce majoring in accounting and finance - National University of Ireland, Galway. He also has a Graduate Diploma in real estate finance.

Robert is a fellow of the Association of chartered certified accountants and member of the “Institut des Réviseurs d’Entreprises”.

Robert has 15 years of experience in providing assurance and advisory services to leading players in the alternative investment industry in Europe, the US and Asia. He is experienced in the audit of consolidated financial statements prepared under IFRS, Lux GAAP and UK GAAP.