Partners Group is to separate its private real estate business from its private capital department as part of a wider restructuring process to take effect in the New Year.
The Switzerland-based global alternative asset management firm said in a statement the private real estate business would become “an independent department” reporting directly to the executive board. The real estate business will be headed by Pam Alsterlind and Claude Angeloz. Alserlind will be based in San Francisco and will join the firm’s executive board.
The separation is part of a series of structural changes across the firm.
Other changes include the formation of a “products operations department” in Singapore, to be led by Kurt Birchler, formerly chief financial officer. The department will be run out of offices in Zug and Singapore and Birchler will be replaced by Cyril Wipfli. Partners’ alternative beta strategies, including its insurance-linked securities platform,will also be spun-out.
In addition, Partners has promoted Roland Kaslin and Denis O’Malley from senior vice presidents to managing directors. Kaslin will become head of finance while O’Malley has been promoted to head of Guernsey.