Graham Burnett is to retire from the Universities Superannuation Scheme (USS) after overseeing its £5bn (€5.7bn) property portfolio since 2006.
Burnett, who has worked for USS Investment Management (USSIM) for more than 20 years, will be replaced by Alex Turner, the deputy head of property since 2012.
Turner also served as offices fund manager between 2009 and 2020, and recently helped implement USSIM’s long-income property strategy.
He previously worked at Hermes Investment Management (now Federated Hermes) and Royal London Asset Management.
Mike Powell, head of private markets at USSIM, said Burnett has made an “enormous contribution to USS over the past 20 years and, under his leadership, the property team have delivered an enviable long-term track record of outperformance”.
He added: “More recently, Graham led the development of the long-income property strategy, originating assets with long-term, contracted, inflation-linked cashflows, ideally suited to help USS meet its pension liabilities.
“USS will also retain access to Graham’s expertise as an adviser to USSIM and non-executive director of a number of USS portfolio companies.”
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