Ric Lewis, a founding partner of Tristan Capital Partners with ties to the United States, is set to become the next chair of The Crown Estate.
The business that serves as the property company of the United Kingdom's reigning monarch is overseen by an independent board said it is set up to act in the long-term national interest across its £16 billion marine, urban and rural portfolio in England, Wales and Northern Ireland.
The Crown Estate has a key focus on assisting the United Kingdom’s transition to a removing carbon from energy production, as well as "generating a strong financial return for the benefit of public spending" in an effort that has reached £4 billion over the past 10 years, it said.
Subject to formal appointment, Lewis will succeed Sir Robin Budenberg CBE who has been chair of The Crown Estate since August 2016. The Crown said Sir Robin will continue as chair until spring next year, when Lewis is expected to take over.
The incoming chair has more than 35 years' experience in real estate investment and is the executive chair and co-chief investment officer of Tristan Capital Partners, a real estate investment manager he founded in 2009.
Lewis moved to London from the United States in the late 1990s to become the chief investment officer and board director of AEW Europe, a pan-European real estate investment management business. He also founded and served for several years as chief executive at Curzon Global Partners, a London-based real estate investment company, owned by AEW Europe.
The chair-designate also serves on a number of boards, including Legal and General Group, the Royal National Children’s Springboard Foundation, Imperial College London and Dartmouth College in the United States.
Lewis said in a statement that it is "a privilege to act as a custodian of a historic yet forward-thinking" operation that "places the national interest at the core of its work."
In July, the business reported a record £1.1 billion profit at the same time as the value of its real estate portfolio fell to £15.5 billion from £16.8 billion.
Dan Labbad, chief executive of The Crown Estate, said: "The Crown Estate is a remarkable business and Ric’s combination of experience, strategic thinking and integrity make him an excellent fit and exemplary role model for the business."
Outside the property industry, Lewis has helped to improve educational access for young people from under-resourced and under-represented communities. In 2000, he founded his own charitable foundation, The Black Heart Foundation, dedicated to improving educational access, quality, and outcomes for underprivileged young people. It has provided educational scholarships to over 750 Black Heart Scholars at 160 institutions throughout the United Kingdom and the United States.