LGIM Real Assets has created a new private credit leadership team and appointed James Spencer-Jones from Cushman & Wakefield to head real estate debt in Europe as part of the reorganisation.

The £30.8bn (€34.4bn) real assets investment arm of Legal & General Investment Management (LGIM) said Calum Macphail, the LGIM head of corporate and alternative debt, will take on responsibility for private credit investment in Europe, with Ed Wood, the head of US private placements, retaining the equivalent role in North America.

Will Devenney, head of infrastructure debt, Matt Taylor, head of alternative debt and Steve Bolton, head of corporate debt also join the leadership team in Europe, reporting to Macphail.

In North America, Charles-Henry Lecointe, head of infrastructure debt and Brian Schwartz, head of real estate debt will report to Wood.

Spencer-Jones was international partner and head of EMEA debt and structured finance at Cushman & Wakefield. Prior to this, he spent six years at GE Capital, as managing director and head of debt origination and asset management, Europe.

Nicholas Bamber, global head of private credit, said: “As we continue to build and grow the private credit business for the future, we have repositioned the team to sharpen the focus on the opportunities available across each of the market sectors.”

Bamber said each part of the business has real potential for growth in terms of clients and investment opportunities that will drive the company’s assets under management.

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