M&G Real Estate, the real estate fund management arm of UK insurer Prudential, has appointed a global chief investment officer.
The London-based firm is set to announce next week that Tony Brown has joined having spent the previous six years at Australia’s Lend Lease Investment Management, and prior to that, 13 years at Schroder Property Investment Management.
The hire comes as M&G Real Estate –formerly known as PRUPIM – continues to expand internationally. As part of that global push, it has opened offices in Japan and Korea alongside making senior hires elsewhere in Asia.
In January 2013, it hired former MGPA capital raiser, Chris Andrews, as head of client relationships and marketing based in Singapore. One of his duties is to raise capital for an Asia core real estate strategy.
In Europe, it has enlarged its Paris office and made an appointment in Frankfurt. The firm is also known to be looking at boosting its investor relations activities in North America with a view to bringing US capital into both Europe and Asia.
M&G Real Estate has just had its busiest 12 months in terms of transactions. In 2013, it completed or committed to £3.5 billion (€4.2 billion; $5.7 billion) of deals, £1 billion of those being outside the UK.