London-based Pradera Asset Management is bolstering its team with the appointment of JER Partners’ director, James Bury, as head of European fund management.
Bury joins at the beginning of March and will report to Pradera founder and executive chairman Paul Whight and chief executive Colin Campbell.
In his new role, the JER retail expert will be responsible for the management of Pradera’s three European property funds: Pradera European Retail Fund; Pradera European Retail Fund II; and Pradera Central and Eastern Fund. His duties will include contributing to the future strategy of the business in terms of acquisitions and supervision as well as expanding its fund management platforms, both through extending existing funds and creating new vehicles. He will also be a the central contact point for Pradera’s European regional directors based in Madrid, Athens, Milan, Istanbul, Warsaw and Prague.
Pradera, which was set up in 1999, focuses on making value-added style returns from retail property. The business currently manages more than €2 billion ($2.6 billion) in Europe.
The appointment of Bury marks a reunion for the former JER retail director with Pradera’s first fund. Prior to JER, he worked for Henderson Global Investors, which was a 50 percent owner of Pradera and provided a seed property portfolio to the Pradera European Retail Fund. In March 2005, Henderson sold its stake to Whight and Campbell.
While at JER, Bury was charged with sourcing purchases on behalf of the JER Partners Fund III, a European vehicle which has raised more than €800 million of equity.
Neither Pradera nor Bury were able to comment on his move.