Brookfield Asset Management has made a major hire to drive its real estate investing business in Europe with the appointment of David Brush, chairman of RREEF’s global opportunistic real estate business.
The 20-year veteran of RREEF and its owner Deutsche Bank has joined as a managing partner to lead European real estate investment activities at Brookfield Property Group, reporting to Barry Blattman and Ric Clark.
In a statement issued by Brookfield, which is a global alternative asset manager, the company said their new hire would play a key role as it seeks to invest further in Europe by “identifying and securing investments and positioning Brookfield to take advantage of significant opportunities in the region”.
He will work closely with the Brookfield Asset Management and Brookfield Office Properties’ senior management teams, including London-based James Tuckey and Martin Jepson, it added.
Blattman, who is senior managing partner at Brookfield, said Brush’s “experience, reputation and knowledge of the European investment landscape” would lead the growth of its business in Europe during this “important time of global recapitalisation”.
Brush spent a total of 18 years as a managing director with RREEF where he founded and grew its global opportunistic investment program. Prior to this, he worked for Bankers Trust's real estate investment banking group which he joined in 1987.
His move appears to represent the most senior departure from RREEF’s opportunistic business in recent times, certainly since the collapse of sale talks between Deutsche Bank and Guggenheim Partners a few weeks ago.
David Brush said in a statement: “I am delighted to be joining Brookfield at such an exciting time and I am very much looking forward to working with Brookfield's highly regarded management team. As a global player, Brookfield recognises the many opportunities that exist in Europe.”