FutureGen Conference 2025

On 2nd and 3rd September 2025, AREF’s FutureGen community came together at Worcester College, University of Oxford for a day of learning, discussion, and networking at the annual FutureGen Conference. The programme covered key topics shaping real estate today, alongside opportunities for members to connect with industry leaders and peers.

Opening remarks

The conference opened with a welcome from Alex Davies, Chair of the FutureGen Committee, from Chalkhill Partners. Alex thanked the event sponsors, Mills & Reeve for their generosity, without which the conference would not have been possible. He also highlighted the dedication of the FutureGen Committee, a volunteer team who, alongside their day jobs, work to deliver a varied calendar of events throughout the year. Alex introduced the AREF team in attendance, encouraging delegates to engage with them throughout the day and to share their reflections on LinkedIn.

Keynote: The economic outlook for real estate investment

The first session was delivered by Mark Clacy-Jones, Head of Real Estate Strategy at Aberdeen Investments. Mark provided a detailed assessment of the macroeconomic landscape and the trends shaping real estate investment, from interest rates and capital flows to broader economic conditions. He discussed how different sectors are positioned for the coming years and the importance of understanding risk and performance drivers in the current climate.

The keynote concluded with an engaging Q&A, where delegates raised questions about investor appetite, international comparisons, and the outlook for long-income strategies. Mark’s responses helped frame the discussions that would follow throughout the day.

Storytelling masterclass

All delegates had the opportunity to take part in the storytelling masterclass, with the group split in two to allow time for both the workshop and a breakout session.

Delivered by communications specialists, AGL Communication, the interactive workshop explored how to structure messages, influence stakeholders, and present with impact. Attendees practised techniques for engaging audiences, learned how to avoid common communication pitfalls, and considered how storytelling can be applied in professional contexts such as fundraising, team leadership, and client engagement.

Breakout session: Fund structures

This session was a technical session on fund structures, led by Dona Ardeman with support from Danielle Hudson, both of Mills & Reeve. The discussion set out five key factors underpinning investment fund structuring, covering regulatory and tax considerations, before exploring a wide range of structures. Delegates gained insight into unregulated JVs, managed accounts, limited partnerships, investment companies, unit trusts, RAIFs, PAIFs and LTAFs, as well as the newly launched Reserved Investor Fund. The session provided a clear overview of the different vehicles available and the practicalities of choosing the right structure in today’s market.

Breakout session: Capital raising for real estate funds

Running in parallel was a session on capital raising, run by Andrew Grigson of PGIM with support from Carine Packer of Schroders) and Will Thompson of Townsend Group). Speakers shared practical strategies for engaging investors and structuring campaigns to attract capital in a competitive market. They discussed current fundraising challenges, how to align with investor priorities, and the importance of building long-term relationships. Delegates left with tangible insights into how to position their funds for success in a shifting environment.

Fireside chat with Hannah Marshall

After lunch, delegates reconvened in the auditorium for a fireside chat with Hannah Marshall, Chief Investment Officer, UK Direct Real Estate at CBRE Investment Management. Interviewed by FutureGen Committee member Taryn Mundy, also from CBRE Investment Management.  Hannah shared her career journey, including lessons learned and challenges overcome along the way. She spoke about leadership, resilience, and the skills needed to navigate an evolving industry, offering valuable advice to the next generation of real estate professionals.

Natural capital in real estate

The afternoon continued with a panel discussion on natural capital, moderated by Hattie Freer-Smith, Assistant Fund Manager at Aviva Investors with an expert panel, including: Molly Biddell, Head of Natural Capital at Knepp Estate; Ivan de Klee, Head of Natural Capital at Nattergal; Georgie Nelson, Head of ESG, Real Estate at Aberdeen Investments; and Greta Talbot-Jones, Director, Natural Capital / Portfolio Manager at Aviva Investors.

The session examined how the sector is integrating nature and biodiversity into investment strategies, with examples of projects designed to protect and enhance the environment while creating long-term value. Audience questions ranged from measurement and data challenges to the potential for collaboration across the industry. The discussion highlighted growing expectations from stakeholders and investors around nature-positive approaches and underlined the importance of embedding these considerations into decision-making.

Networking and social

After the sessions, delegates checked into their rooms, freshened up, and walked to Magdalen Bridge for punting, organised by Alumni Tours. The weather held off just long enough for everyone to enjoy the trip along the river. Later, the group gathered at The Randolph for dinner, rounding off the formal programme with excellent food and conversation. The evening didn’t stop there, as many continued on to a local Oxford bar to make the most of the occasion.

Day 2: Site visits

The following morning, delegates had breakfast, checked-out and had the opportunity to take part in a series of site visits showcasing major projects across Oxford.

• The Redevelopment of Osney Power Station
  Groups visited the historic Osney Power Station, a former industrial building now being repurposed as a world-class centre for Executive Education for Saïd Business School. Recognised as a Local Heritage Asset, the project is preserving the building’s industrial character while securing its long-term future in service of the city.

• The Life & Mind Building
  Delegates also toured the completed Life & Mind Building, the University of Oxford’s largest academic facility, delivered in partnership with Legal & General. Bringing together the Departments of Biology and the new INEOS Institute of Antimicrobial Research, the building sets a new benchmark for sustainability in academic design, incorporating Passivhaus principles and extensive timber framing. The scheme reflects a shift in the university’s development model, moving away from reliance on philanthropic donations towards a more innovative funding approach.

Each visit concluded with refreshments nearby, offering delegates a chance to reflect on the projects and continue discussions before heading to the station.

Photos:

Full Delegate Programme:

For more information on the individual sessions, including speaker biographies, please click on the blue arrows below to expand each section

• Tuesday 2nd September 2025
• Wednesday 3rd September 2025

Tuesday 2nd September 2025

9:45 - Arrival and Registration

^{The Sultan Nazrin Shah Conference Centre}

Please arrive at 9:45 for registration, tea and coffee.

Make your way to the main entrance of Worcester College and the staff in the Porters Lodge will show you the way to Conference Centre.  

A map of Worcester College can be found here.

10:25 - Welcome from AREF FutureGen Committee Chair, Alex Davies

^{The Auditorium} 

Alex Davies, Moderator for the day, will welcome all delegates to the Conference. 
 

Alex Davies (Chair FutureGen Committee)

Chief Operating Officer , Chalkhill Partners

Alex joined Chalkhill Partners in March 2025.

 

10:30 - Keynote 'The Economic Outlook for Real Estate Investment'

^Auditorium 

Keynote Speaker: Mark Clacy-Jones, Head of Real Estate Strategy, Aberdeen

Mark will open the conference with a keynote exploring the current economic landscape and the key trends shaping the real estate investment market. His insights will set the tone for the day’s discussions, providing delegates with a clear view of the macroeconomic factors influencing our industry today and into the future.

Mark Clacy-Jones

Head of Real Estate Strategy, Aberdeen

Mark Clacy-Jones is Head of Real Estate Strategy at Aberdeen, responsible for a small team producing, guiding and facilitating optimal fund level strategy across the global suite of abrdn Real Estate funds. This role also focuses on understanding the performance drivers of funds and their risk levels. Prior to joining Standard Life Investments in January 2017, Mark spent 9 years at IPD, and subsequently MSCI, working in a range of global research roles including Head of Indices and ultimately Head of Applied Real Estate Research. Mark also had a brief spell setting up a Data & Analytics function for Knight Frank’s Research Team just prior to joining SLI.

 A former Chair of the Society of Property Researchers, Mark is currently Chair of the AREF Research Committee and Chair of the INREV ODCE Working Group.

 Mark holds a BA Economics from Leicester University and a MA Business & Management in Emerging Markets from Reading University.

 

11:20 & 12:30 - The Power of StoryTelling 'Masterclass'

^{The Auditorium}

^{All delegates will attend the Storytelling Masterclass, though the group will be split in two depending on the breakout session selected. The breakouts will run in parallel with the Masterclass, and you’ll be advised of your group and timings when you register on the day.}

^{11:20am (Group A) &
12:30pm (Group B)} 

This is a 55 minute workshop, led by Richard Teverson of AGL Communication.

Told with authenticity, heart, and conviction, stories have the power to inspire people and drive meaningful change. Whether delivering a presentation, selling an idea, or pitching, storytelling is your most powerful tool. In this 55 min session, you’ll discover why storytelling is so powerful and leave equipped with practical tools to craft compelling narratives.

Richard Teverson

Business Communications Coach & Facilitator, AGL Communication

Richard has been a business communications coach, facilitator and role player for nearly 20 years, as well as a professional actor for 25.

Passionate about helping people find the most confident, authentic version of themselves, he has worked with senior business leaders, largely in global companies, across a wide variety of sectors. These include banking, pharma, luxury goods, the law (many magic circle firms) and professional services (several of the big four accounting firms).

As an actor, Richard works in film, television, theatre and voiceover. He has appeared many times in the West End and at the National Theatre. On screen, he has helped negotiate the coalition government, as David Laws, and basked in Caribbean luxury, on the island of Mustique, as Colin Tennant.

He read History at Durham.

 

11:20 & 12:30 - Break-out Session 1: Fund Structures

^{Breakout Room 1}

^{Delegates will choose one breakout session – either Fund Structures or Capital Raising. Based on your selection, you’ll be placed into one of two groups. The breakout sessions will run in parallel with the Storytelling Masterclass, and you’ll be advised of your group and timings when you register on the day.}

^{11:20am (Group B) &
12:30pm (Group A)} 

Join us for an engaging and insightful break-out session led by Mills & Reeve on RE fund structures. Starting with an overview of five core factors that underpin investment fund structuring, including some key regulatory and tax considerations, the session will then consider a range of structures, from unregulated JVs and managed accounts to limited partnerships, investment companies, unit trusts, RAIFs, PAIFs, LTAFs and more, including the brand-new RIF. Exploring not only how each is structured and operated but their strategic importance and the value they bring to investors and the broader market, the session should include practical insights for a range of attendees and plenty of opportunity for discussion.

 

Dona Ardeman

Partner, Mills & Reeve

Dona specialises in investment funds. She enjoys helping firms, government departments, charities, universities, and others establish, manage, and invest in funds. From setting up an innovative structure, to solving a problem for a manager, to advising an investor on a fund's terms, Dona is passionate about helping clients create innovative structures or engage in emerging finance opportunities.

Danielle Hudson

Principal Associate , Mills & Reeve

Danielle joined Mills & Reeve in 2016 and is a Principal Associate in the Real Estate team. Danielle advises on all transactional real estate work including acquisitions and disposals, portfolio management and development work across the core investment markets of office, retail and industrial and logistics

 

11:20 & 12:30 - Break-out Session 2: Capital Raising for Real Estate Funds

^{Breakout room 2}

^{Delegates will choose one breakout session – either Fund Structures or Capital Raising. Based on your selection, you’ll be placed into one of two groups. The breakout sessions will run in parallel with the Storytelling Masterclass, and you’ll be advised of your group and timings when you register on the day.}

^{11:20am (Group B) &
12:30pm (Group A)} 

Led by Andrew Grigson (PGIM), with support from Carine Packer (Schroders) and Will Thompson (Townsend Group), this 55-minute session will explore practical strategies for securing investment in today’s market. Gain insights on engaging investors, structuring campaigns, and overcoming current challenges to position your fund for successful fundraising and long-term growth.

Andrew Grigson

Managing Director, Business Development, PGIM

Andrew Grigson is a managing director at PGIM Real Estate. Based in London, Andrew is responsible for business development, capital raising and marketing PGIM Real Estate’s global real estate products and services to UK and Dutch institutional investors.

Prior to joining PGIM Real Estate in 2009, Andrew was a director of the UBS Global Asset Management UK Real Estate business, originally joining the team in 2004 as an asset manager but latterly handling investor relations for the UBS Triton Property Fund.

Earlier, Andrew spent 10 years with Jones Lang LaSalle / LaSalle Investment Management, working mostly on UK discretionary separate account mandates.

Andrew is a member nominated Trustee of the PGIM UK Retirement Savings Scheme and is also a Trustee of a London-based charity.  

Andrew has over 26 years of real estate industry experience and is a member of the Royal Institution of Chartered Surveyors.

Carine Packer

Product Manager, Schroders

Carine is a Product Manager at Schroders Capital. In her role she supports the UK team with strategic and ongoing client and product management. Prior to this Carine was at CBRE Investment Management and Aviva Investors as a Product Specialist covering long income, European logistics and European value-add strategies.

 Carine graduated from the University of Nottingham with a LLB in Law with South East Asian Law.

Will Thompson

Analyst, The Townsend Group

Will joined the Townsend Group as an Analyst in April 2021, after completing the MSc, Real Estate at Henley Business School.

The Founded in 1983, The Townsend Group, an Aon Company, is a leading provider of global investment management and advisory services focused exclusively on real estate and real assets. Committed to excellence in investment management and client service, Townsend serves an institutional client base providing custom investment solutions to help meet the needs and objectives of their investment programs. Headquartered in Cleveland, Ohio, the firm has offices in San Francisco, London and Hong Kong.

 

 

13:30 - 14:30 - Lunch

^{The Foyer}

Join us for lunch between 13:30 and 14:30pm at Worcester College.  You can view the Kitchen's Instagram page here.

Please make sure you have advised us of any dietary requirements by emailing [email protected].

14:30 - Fireside Chat with Hannah Marshall, Chief Investment Officer, CBRE Investment Management

^Auditorium 

Hannah Marshall, Chief Investment Officer - UK Direct Real Estate Strategies at CBRE Investment Management, will share her career journey,
challenges, and success strategies, interviewed by Taryn Mundy, CBRE Investment Management & FutureGen Committee member. 

Hannah Marshall

Chief Investment Officer, UK Direct Real Estate, CBRE Global Investors

Hannah Marshall is Chief Investment Officer, UK Direct Real Estate. In this role, she leads investment strategy and portfolio management for all UK direct real estate mandates, focusing on delivering attractive investment performance and growing AUM and EBITDA. She also works closely with Client Solutions to pursue fundraising initiatives.

Previously, Hannah was Head of UK Funds at CBRE Investment Management and Fund Manager for the CBRE UK Property PAIF. Prior to that, she was Head of European Portfolio Management within the firm's private real estate strategy, responsible for managing 13 separate accounts as well as a European Fund of Funds.

Prior to joining CBRE Investment Management in 2006, Hannah worked at OPC in the multi-manager team covering both the UK and continental European markets. She joined the real estate industry in 2002.

Hannah holds a Bachelor of Science (Hons) degree in Economics and Politics from the University of Bristol and holds a Master of Art degree in Real Estate Investment and Finance from Reading University. Hannah is a Member of the Royal Institution of Chartered Surveyors and is approved by the FCA to undertake Regulated Activities, having completed the Investment Management Certificate. She is a Senior Manager under the FCA’s Senior Managers & Certification Regime and holds the SMF3 (Executive Director) Function.

Taryn Mundy

Associate, CBRE Investment Management

Taryn joined CBRE Investment Management in 2021. Her role includes investment transactions, asset management and fund management across the CBRE UK Property PAIF and two separate account clients.

Prior to CBRE IM, Taryn worked at Cushman & Wakefield.

Taryn hold an MSc in Real Estate from Oxford Brookes University (2017) and is a member of the RICS (2019).

 

15:30 - Break

Join us for tea/coffee and cake in the Foyer. 

16:00 - Natural Capital Panel

^{The Auditorium}

This session explores how natural capital—the world’s natural resources like soil, water, as well as biodiversity—is being factored into real estate investment. Hear how the industry is responding to growing expectations, with examples of projects that protect and enhance nature while delivering long-term value.
 

Hattie-Freer-Smith

Assistant Fund Manager, Aviva Investors

Hattie is an Assistant Fund Manager at Aviva Investors working on the Real Estate Active Long Term Asset Fund (REALTAF) which was launched in April 2023. 

REALTAF adopts a research-led thematic investment strategy, allocating capital to our highest conviction sectors including Urban Warehousing, Rental Housing, Life Sciences, Data Centres and Film Studios. The fund has a 6% total return target on a 5 year rolling basis and was launched with £1.6bn of Aviva seed capital across 37 UK assets. 

Hattie worked on the fund prior to its launch focusing on strategy, ESG and asset selection. Hattie originally rotated through the Aviva Investors graduate scheme and worked for a year at Colliers International in the valuation department. Hattie has completed the Investment Management Certificate and holds a MSc in Real Estate from Cass Business School and a BA (Hons) in History from the University of Bristol. 

Molly Biddell

Head of Natural Capital, Knepp Estate

Molly Biddell Molly is Head of Natural Capital at Knepp Estate. She focuses on leveraging nature markets for Knepp, Weald to Waves and the River Adur Landscape Recovery project. She also works part-time at Hampton Estate, a family-run regenerative farming business, facilitates the Upper Adur Farming Cluster group and is a columnist for Farmers Weekly.

Ivan de Klee

International Conservationist & Natural Capital Expert

Ivan de Klee is an international conservationist and natural capital expert who specialises in natural process led ecosystem recovery. Ivan started his conservation career working in India before running the national program for Fauna and Flora International in South Sudan after which he returned to the UK. After 4 years at the Knepp Estate developing the natural capital program, Ivan joined Nattergal as Head of Natural Capital where he now leads the nature recovery plans for their sites and the development of natural capital.

Georgie Nelson

Head of ESG, Real Estate, Aberdeen

Georgie Nelson is Head of ESG for Real Estate at abrdn. She is responsible for heading up ESG strategy and integration for abrdn’s real estate investments business with a specialist focus on climate and biodiversity. She also sits in the Natural Capital team to support the company’s wider natural capital offering and is involved in some of the live pilots of the TNFD framework with numerous internal and external stakeholders.

Georgie sits on numerous expert industry working groups both in the UK and globally including co-chair of the European Investments Working Group for the Better Buildings Partnership and is a member of the technical standards board at Wilder Carbon. Prior to abrdn, Georgie worked at Carbon Intelligence supporting and delivering on sustainability solutions for investors and corporates.

Greta Talbot-Jones

Director, Natural Capital / Portfolio Manager, Carbon Removal Fund, Aviva Investors

Greta is leading the expansion of Aviva Investors’ capability in direct natural capital and nature-based investing and the resulting interaction with voluntary carbon markets. As co-Portfolio Manager on the recently launched Private Markets Carbon Removal Fund, she is responsible for origination and financial and impact analyses of new opportunities. Prior to joining Aviva Investors, Greta worked on project financing renewables and impact ventures in emerging markets and strategy consulting. She holds Natural Resources Engineering and Financial Economics degrees from the University of Canterbury in New Zealand. Her engineering degree focused on renewable energy, water engineering, and nature-based solutions.

 

16:55 - Closing remarks

17:00 - Check-in & Freshen up

You will be given the key to your room, collect your luggage and a chance for a quick freshen-up for the evening. 

Please meet at the Porters Lodge at 17:50hrs.

18:15 - Punting from Magdalen Bridge with Alumni Tours

Alumni Tours will be providing a punting tour along the River Cherwell.  Starting from Magdalen Bridge, the tour will explore Oxford’s renowned Botanic Gardens, Magdalen College School fields, Christ Church Meadows, and St Hilda’s College gardens. 

Refreshments included.

Address: Magdalen Bridge Boathouse, High St, Oxford, Oxfordshire OX1 4AU

Both alcoholic and non-alcoholic refreshments will be provided for the tour. 

19:30 - Dinner at The Randolph Hotel

The evening dinner will take place in the Ballroom at The Randolph Hotel, Oxford’s most historic five-star hotel. Located opposite the Ashmolean Museum, The Randolph blends Victorian Gothic architecture with modern elegance, and is famously featured in Inspector Morse. With its grand interiors and central location, it offers a fittingly atmospheric backdrop for an evening of relaxed networking and conversation.

A three-course buffet dinner will be served for all guests. There will be no formal seating plan, and we encourage everyone to sit with new faces to make the most of the networking opportunities.. 

Address: The Randolph Hotel by Graduate Hotels
Beaumont Street
Oxford
OX1 2LN

 

Wednesday 3rd September 2025

08:00 - 10:00am - Breakfast in The Hall & Check-out

^{The Hall}

A buffet breakfast, with refreshments, is available to all delegates.  

Please ensure you have vacated your room by 10am latest.

Please hand your keys back to the Porters Lodge.

09:30am - Site Visit 1: The Redevelopment of Osney Power Station, University of Oxford

Please meet at The Porters Lodge at 9:10am.  We will be leaving promptly at 9:15am to walk to Osney Power Station.  

Delegates should have checked-out of their rooms, handed back their keys and have their luggage ready with them. 

Address:  Osney Power Station, Osney Lock, East St, Oxford OX2 0AX

Delegates will visit the historic Osney Power Station, a former industrial building on Arthur Street now set to become a world-class centre for Executive Education for Saïd Business School. The site, recognised as a Local Heritage Asset, is being thoughtfully repurposed to offer short-stay residential courses for business leaders. Just a short walk from Oxford Station, the redevelopment aims to preserve and celebrate the building’s industrial past while securing its long-term future in service of the city.

Join us afterwards for light refreshments at The Porterhouse Grill & Rooms: 68-69 Mill St, Oxford OX2 0AL - which is just around the corner to the site vist.

 

10:00am - Site Visit 2: The Life & Mind Building, Oxford - revisited

Please meet at The Porters Lodge at 9:30am.  We will be leaving promptly at 9:35am to walk to the site visit.

Delegates should have checked-out of their rooms, handed back their keys and have their luggage ready with them. 

Address: Life & Mind Building, St Cross Road, Oxford, OX1 3RF

Following on from the 2023 tour of the site in development, delegates will return to visit the now-completed Life & Mind Building – the University of Oxford’s largest academic building, delivered in partnership with Legal & General through a pioneering development model.

The scheme brings together the Departments of Biology (formerly Zoology and Plant Sciences) and the new INEOS Institute of Antimicrobial Research, with a focus on collaboration and cross-disciplinary innovation. It also marks a shift from the university’s traditional funding model, moving away from donation-led development.

Built to exceptional sustainability standards – including Passivhaus principles and extensive timber framing – the Life & Mind Building sets a new benchmark for academic space in the UK.

Join us after for light refreshments at:  

The Spires Cafe
The Chilterns
99 Gloucester Grn
Oxford
OX1 2DF

The Spires Cafe is a 15 minute walk from the site visit, on the way to the station.

 

 

 

10:15am - Site Visit 3: The Redevelopment of Osney Power Station, University of Oxford (second group)

As this site visit is small, we are running it at two different times.  Please meet at The Porters Lodge at 9:55am.  We will be leaving promptly at 10:00am to walk to Osney Power Station.  

Delegates should have checked-out of their rooms, handed back their keys and have their luggage ready with them.  There will be a space to leave luggage at the site visit.

Address:  Osney Power Station, Osney Lock, East St, Oxford OX2 0AX

Delegates will visit the historic Osney Power Station, a former industrial building on Arthur Street now set to become a world-class centre for Executive Education for Saïd Business School. The site, recognised as a Local Heritage Asset, is being thoughtfully repurposed to offer short-stay residential courses for business leaders. Just a short walk from Oxford Station, the redevelopment aims to preserve and celebrate the building’s industrial past while securing its long-term future in service of the city.

Join us afterwards for light refreshments at The Porterhouse Grill & Rooms: 68-69 Mill St, Oxford OX2 0AL - which is just around the corner to the site vist.

 

 

 

Agenda Overview at a Glance:

You can view the agenda overview by clicking here or the image below:

Special thanks to:

Sole sponsor:

Masterclass:

Conference suite:

Worcester College, Oxford

Socials

You can watch our vox pop interviews with delegates and speakers by searching #fgenconf25 on LinkedIn or click here.

Author

Clare Whyte

Head of Marketing & Events, AREF

Clare is responsible for all aspects of the planning, development and execution of the marketing strategy for AREF. 

Clare leads on event management, liaising with committees and members to schedule, plan and deliver an effective events calendar for the association.  She also has overall responsibility for brand, as well as the design, development and production of marketing across both digital and offline channels, including the website.