UK-based real estate giant Prupim is being rebranded as M&G Real Estate.
UK-based real estate giant Prupim is being rebranded as M&G Real Estate.
The real estate asset manager is part of M&G Investments, which in turn is owned by financial services group Prudential.
Prupim CEO Alex Jeffrey said the rebranding reflected the 'increasing collaboration' with other units of M&G.
Jeffrey said: 'This is a logical step. Products for external clients are already marketed under the M&G brand. The change of name reflects how closely we work with our colleagues across the group.'
'As a specialist in real estate, we take an active approach to the ownership and management of property. This approach has enabled us to build a considerable third-party client business over the past few years. Today, we manage about £5 bn of assets on behalf of external investors across a range of investment strategies and geographies. Such business now represents nearly a third of our total assets under management.'
Prupim is a top 20 international real estate investment manager with £17 bn of assets under management. It invests in property on behalf of Prudential and external clients across Europe, the Asia Pacific region and North America.
The name change becomes effective at end-June.
