Corestate appoints new CEO

Corestate appoints new CEO

Corestate Capital has appointed René Parmantier as the new Chairman of the Management Board (CEO) with immediate effect and for a term of 3 years.

The previous chairman of the board, Lars Schnidrig, was also appointed Chief Financial Officer with immediate effect and a term of 3 years. Schnidrig already held this position for Corestate in 2017 and 2018. Nils Huebener and Daniel Loehken remain on the Management Board as Chief Investment Officer and Chief Legal & HR Officer respectively.

Corestate said the originally designated CEO Klaus Schmitt will not take office on 1 January 2021.

René Parmantier is 45-year-old and has more than 25 years of professional experience in the financial industry. For the past twelve years he has been CEO of Oddo Seydler Bank AG (formerly Close Brothers Seydler Bank AG). During this time, he has advised on more than 200 financing and M&A transactions in the German real estate sector and in particular has acquired an extensive personal network and many years of experience in private debt.

“With René Parmantier, we have been able to gain an experienced and dynamic new CEO. He will make a decisive contribution to ensuring that the company accelerates its growth course again in the coming years. I am also very happy that we were able to convince Lars Schnidrig to stay. He will return to his former role as Chief Financial Officer resuming responsibility for such crucial issues as the reduction of net financial debt,” said Friedrich Munsberg, Chairman of the Supervisory Board.

 “I am very much looking forward to my new role at Corestate. In my professional career, transactions and financing for real estate companies have always played a major role. I can now bring this experience to Corestate. I see considerable growth potential both in the existing product area of investment management and, above all, in the private debt segment. The market continues very strongly on the transactions side, also valuations getting richer and the mezzanine business to remain strongly and Assets under Management envisaged to grow,” said René Parmantier.