Legal & General Property (LGP) has announced the appointment of three asset managers to its UK Property Fund (UKPF), as the fund surpasses £2 bn (€2.8 bn) of assets under management.
Legal & General Property (LGP) has announced the appointment of three asset managers to its UK Property Fund (UKPF), as the fund surpasses £2 bn (€2.8 bn) of assets under management.
The new appointments comprise Alex Waterworth, who joins as a senior asset manager after 10 years at JLL, eight of which were in the Industrial Property Investment Fund asset management team; Andrew Mercer, who joins as a senior asset manager after six years at Capita and 15 years as a Central London specialist; Peter McNamara, who joins as an asset manager from Colliers. His experience includes valuation and West End office agency activity.
Launched in 2006, the UKPF has grown from £100 mln to over £2 bn as it continues to see steady inflow of capital from both retail and institutional investors. Recent acquisitions include the Compass portfolio, comprising six south east offices, acquired for £135 mln, the £22.9 mln Mayfly portfolio of prime high street assets, and 14-28 Corporation Street in Birmingham, which was purchased for £16 mln.
