Paul Kennedy, Abu Dhabi Investment Authority’s (ADIA) head of private markets strategy, is joining JP Morgan Asset Management (JPMAM) to head real estate strategy in Europe.

JPMAM said it has appointed Kennedy as head of strategy and portfolio manager, real estate Europe to join the firm in early 2020.

Based in London, Kennedy will lead the European real estate strategy team and “contribute market views to JPMAM’s real estate investment process”, JPMAM said.

Kennedy joins from ADIA after 11 years, where he was most recently head of private markets strategy. Prior to this, he was senior director and co-head of global research at Invesco Real Estate between 2001 and 2008.

Earlier in his career, Kennedy was an analyst and later senior analyst focusing on European real estate markets at Henderson Global Investors between 1998 and 2001.

He will report to Peter Reilly, head of real estate Europe at JPMAM.

Reilly said: “Real estate investment success, particularly in Europe, requires an intimate understanding of micro-economies and fundamentals – across countries, languages and political spheres – as well as global macroeconomics.

“Kennedy’s depth of knowledge, experience working across two continents and strategic insight will continue to give us an edge when it comes to identifying market trends and compelling risk-adjusted opportunities.”