APPOINTMENT OF CHIEF FINANCIAL OFFICER
30 August 2018
Residential Secure Income plc
APPOINTMENT OF CHIEF FINANCIAL OFFICER
Residential Secure Income plc ("ReSI") (LSE: RESI), which invests in residential asset classes that comprise the stock of UK social housing providers, is pleased to announce that TradeRisks Limited, the parent company of ReSI's Investment Manager, has appointed Richard Stubbs as Chief Financial Officer, with responsibility for financial strategy and operations, including across ReSI.
Richard's appointment is effective immediately and he will report to Alex Pilato, Chief Executive of TradeRisks. Richard will be responsible for all aspects of financial strategy and operations across the TradeRisks Group and ReSI, including overseeing ReSI's equity and debt programme, and preparation of ReSI's accounts and reporting.
Richard brings more than 35 years of commercial property and financial experience. He joins from real estate private equity platform Sistema Capital Partners, where he was responsible for all fund reporting and oversaw the due diligence on major M&A transactions. Prior to that, he held senior positions at fund management businesses Alpha Real Capital and Langham Hall, and at UK-listed REIT Capital & Regional's £2.9 billion Mall Fund.
Alongside Richard, Julia Eberdal and Sergey Pichugin have joined TradeRisks as an Associate Director and Property Analyst respectively, both effective immediately. Julia will be responsible for investment analysis and financial modelling focused on potential pipeline acquisitions, and will report to Ben Fry, Managing Director of ReSI Capital Management Limited. Julia joins from financial modelling company Numeritas, where she oversaw portfolio modelling for real estate projects in a number of European markets. Specialising in financial modelling, project finance, business analytics and mergers & acquisition, she previously worked at Verus Partners, Corality Financial Group and Blackrock.
Sergey will support the asset management function and will report to Pete Redman, Managing Director of ReSI Capital Management. Sergey was previously a real estate and investment analyst at Bedale and Beaufort Limited, and received an MA in International Business and Economics from the University of Westminster.
Alex Pilato, Chief Executive of TradeRisks Limited, commented: "Richard has a proven track record in fund management in both private and public format, and his appointment comes at an exciting time for ReSI, as we look towards future growth. Along with Julia and Sergey, we continue to build a team of talented and knowledgeable individuals to engage with the structural changes supporting investment in the UK social housing sector."
FOR FURTHER INFORMATION, PLEASE CONTACT:
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ReSI Capital Management Limited / TradeRisks Limited Jonathan Slater Ben Fry Mark Rogers Alex Pilato Richard Stubbs |
+44 (0) 20 7382 0900
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Jefferies International Limited Stuart Klein Gary Gould |
+44 (0) 20 7029 8000 |
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FTI Consulting Richard Sunderland Claire Turvey Richard Gotla |
+44 (0) 20 3727 1000 Email: resi@fticonsulting.com |
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NOTES:
Residential Secure Income plc (LSE: RESI) is listed on the premium segment of the Official List of the UK Listing Authority and was admitted to trading on the Main Market of the London Stock Exchange in July 2017.
ReSI has been established to invest in portfolios of Homes across residential asset classes that comprise the stock of Housing Associations and Local Authorities, comprising Shared Ownership Homes and Rental Homes (being Market Rental Homes, Functional Homes and Sub-Market Rental Homes) throughout the UK. To date it has deployed c. £168 million, acquiring a portfolio of 1,928 properties, comprising a mixture of local authority and retirement housing.
ReSI is managed by ReSI Capital Management Limited, a wholly owned subsidiary of TradeRisks Limited which has a 17 year track record of executing transactions within the UK social housing sector and, to date, has arranged funding of over £10 billion in the social housing, care and other specialist residential property sectors.
ReSI seeks to deliver secure, long-dated, inflation-linked income returns through investment in UK social housing. It aims to meet demand from Housing Associations and Local Authorities for alternative equity-like financing sources that allows them to recycle capital back into socially and economically beneficial new housing, making a meaningful contribution to the UK housing shortage.
Homes acquired by ReSI will predominantly be on a freehold or long leasehold basis (typically 99 years or more to maturity) and benefit from long term (typically 20 years plus) inflation-adjusted cash flows. Acquisitions by ReSI will be limited to Homes with sufficient cashflows, counterparty credit quality and property security that allow the Fund Manager to arrange long-term investment grade equivalent debt.
Further information on ReSI is available at www.resi-reit.com
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