10 years, 10 questions: The anniversary interview on vertical integration, governance and transparency
To mark the company’s 10th anniversary, Ajay Sirohi, co-founder and Chairman of the Board of Directors, and Reto Niedermann, Group CEO, look back on a decade in which an idea has grown into a leading provider of institutional real estate investment. In this interview, they discuss value creation, governance, and transparency, and share personal insights.
What does this anniversary mean to you personally?
Ajay Sirohi: It represents an idea that started small in 2016 and was consistently brought to fruition. At the same time, it is an expression of gratitude toward our team, investors, and partners.
How would you describe Seraina in a single sentence?
Reto Niedermann: Seraina is an integrated real estate investment and development manager that creates risk-optimized, sustainable real assets with predictable returns for institutional investors through its own end-to-end value creation.
What strategic decision had the greatest impact?
Ajay Sirohi: The most significant decisions were the company’s founding and, later, its diversification into a multi-partner strategy. The goal was to reduce dependencies, strengthen stability, and open up new avenues for growth.
How exactly does value creation work in this model?
Reto Niedermann: Integrated value creation strengthens risk management and increases transparency throughout the supply chain. This has a stabilizing effect during challenging periods.
How does quality grow alongside the organization?
Ajay Sirohi: Growth must never outpace governance. Clear decision-making processes, a strong investment committee, and transparent reporting are essential.
What level of transparency do investors expect?
Reto Niedermann: What matters most are honest assessments, timely notification of deviations, clear scenarios, and direct access to decision-makers.
What does responsibility actually mean?
Ajay Sirohi: Responsibility means delivering sustainable returns, communicating transparently, and managing risks proactively. This includes providing leadership and guidance to employees, as well as creating sustainable, high-quality living spaces.
What helps you stay steady during challenging market conditions?
Reto Niedermann: The key is to remain disciplined and consciously stick to your strategy. Discipline and patience pay off in the long run.
What warning signs do you see when it comes to growth?
Ajay Sirohi: Warning signs include growth that is too rapid without stable structures, dependence on individual partners, and a lack of financial discipline. These become apparent early on when transparency declines and decision-making processes become unclear.
What recommendations do you have for the current market conditions?
Reto Niedermann: What matters is portfolio quality over volume, disciplined valuation scenarios, careful partner selection, and planned liquidity reserves. Decisions should be made in a structured manner, but without hesitation.