Prudential hires retail exec to boost assets

The insurance company’s real estate investment arm, PRUPIM, has appointed a former retail executive to boost the performance of their business parks and shopping centers.

PRUPIM, the real estate investment arm of the insurance company, Prudential, has hired retail executive Nick Early to boost the performance of its assets.

Early, formerly with DX3, a digital music technology, mobile phone company Carphone Warehouse and music retailer Virgin Megastores, will focus on improving the PRUPIM’s business parks and shopping centers. As commercialization director, Early will also identify new sources of income for existing real estate assets.

Peter Best, head of PRUPIM’s UK asset management division, said in a statement the role would strengthen the firm’s focus on “commercialization, technology and marketing as well as also looking at generating income from all assets under our management, not just retail.”

PRUPIM has more than $38 billion of assets under management totaling around 1,000 properties. Last July, the firm teamed up with LaSalle Investment Management to launch what they billed was the first open-ended pan-Asian real estate fund, the Asia Property Fund.