2 April 2020 10am – 11am Joint event Webinar

Links to material from the webinar are below:


Dial in on Thursday 2 April at 10:00 UK time for the Professional Standards Briefing to learn more about Liquidity in current market circumstances.

This briefing, open to AREF and INREV members, will provide further information on how to address liquidity challenges in today’s exceptional market circumstances. Constantin Sorlescu, INREV, will be joined by four expert speakers:

  • Moderator - Constantin Sorlescu, Director of Professional Standards at INREV
  • Thomas Kallenbrunnen, Managing Director at PGIM Real Estate
  • Nick Brown, Finance Manager at M&G Real Estate
  • John Ravoisin, Audit & Advisory Partner at PwC
  • Robert White, Assurance Real Estate Partner at EY

This webinar will also discuss the not-yet-published consultation paper on Open End Funds Pricing, which is joint AREF/INREV project, providing very relevant insights on how to deal with pricing governance in exceptional market circumstances.

In addition this briefing will cover:

  • Liquidity requirements and secondary markets
  • Terms and rights of redemptions
  • Transparency and disclosures regarding pricing policy

A short paper on liquidity guidance and an extract from the AREF/ INREV Open End Fund Pricing paper will be available in advance of the briefing.

Thursday 2nd April 2020

10.00 UK Time

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. 

This event counts as 1hr of CPD.


A link to join the webinar will be sent to you once you have registered.



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.

Thomas Kallenbrunnen

Managing Director, PGIM Real Estate

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. 

Constantin Sorlescu

Director of Professional Standards, INREV

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.