Real estate fund manager chief executive departs

The chief executive of Eildon Capital Group is exiting the ASX-listed real estate fund manager on June 30.

After two years in the top job and as joint company secretary, Laurence Parisi is leaving after the board "carefully evaluated the position of the business in the short term and has agreed to the cessation" of his role as chief executive.

Parisi joined the group in March 2020 as a fund manager and was promoted to chief operating officer eight months later.

On 1 May 2022, he replaced Mark Avery, who was managing director and went on to become a non-independent director.

Before Eildon, Parisi was chief operating officer of APN Property Group and fund manager of property trust Industria REIT. He also worked at Goldman Sachs and Citigroup.

Eildon chief financial officer Varun Sachdev will succeed Parisi on 1 July 2024 as chief executive and joint company secretary.

Sachdev was appointed finance chief in October 2021 and before that was the financial controller of MaxCap Group.

Parisi said: "I would like to thank the board, the talented team, our investors and clients for all the support and input over the last four years. The group has undertaken successful investments across property debt and equity and has maintained a commitment to deliver for its investors in an open and transparent fashion. I wish everyone involved with Eildon every success moving forward."

Eildon operates as a fund manager and investors and offers real estate credit.

It had assets under management of $400 million at the end of February.