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abrdn appoints replacement for outgoing European Logistics Income trust lead

abrdn european logistics incomeTroels Andersen has been appointed as lead fund manager of the abrdn European Logistics Income Trust.

It follows the resignation of Evert Castelein who had been in place since the trust’s IPO in late 2017.

Andersen will take over the running of the £568 million fund with immediate effect, though Castelein will remain at the firm until the end of the year to ensure a smooth handover.

Copenhagen-based Andersen joined abrdn in 2011 and is based in Copenhagen. He has overseen abrdn’s €150 million multi-sector European Long Income Real Estate fund since 2019, and before that managed abrdn's €500 million Aberdeen Property Nordic I fund.

He previously held a steering role in abrdn’s investment activity on the continent as a member of abrdn's Nordic and European investment committees.

Andersen spent the first part of his career working within German banks, both natively and in the UK, and has 25 years of real estate investment experience. His areas of expertise include logistics asset transactions and debt facility management.

The existing team of Geoff Hepburn, Attila Molnar and Ross Hutchison will provide support. They will also be backed up by abrdn’s pan-European investment and asset management team.

Abrdn was demoted from the FTSE 100 last month.

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