In a statement, Quille said the changes were “important and planned”, with Treacy adding: “This is an exciting time for global real estate and great opportunities lie ahead for MGPA, its clients and investors.”
The firm raised $5.2 billion for its third global real estate fund, MGPA Fund III, which was split into Europe and Asia-focused vehicles. MGPA Asia Fund III became the largest dedicated private equity real estate targeting Asia when it corralled $3.9 billion, while MGPA Europe Fund III, closed on $1.3 billion.
As chief investment officer, Jeffrey will be responsible for global investment strategy, the investment approval process and client relations. Quille will stay on as chairman, while Wood will step back from “day-to-day operations” but remain an executive director helping Treacy and Jeffrey.
Laurent Luccioni, managing director of MGPA’s Europe funds, will take over from Jeffrey as the new chief executive, Europe; while John Saunders, managing director of the firm’s Asia funds will become the new chief executive of Asia, excluding Japan. Treacy will continue to have oversight of Japan.