M&G Investments’ appointment of Alex Jeffrey as head of PRUPIM signals an international push for the UK insurance giant.
Jeffrey has an international private equity real estate background at MGPA, while the majority of PRUPIM’s £15bn under management is retail and life fund money invested in the UK in mainly core strategies.
M&G chief executive Michael McLintock said Jeffrey had “an impressive record of leadership roles in international real estate investment”.
MGPA’s chief investment officer is said to have beaten a strong field, including Peter Pereira Gray of Wellcome Trust.
Jeffrey, now based in Singapore, will join in July as chief executive of PRUPIM and will also sit on the main M&G board.
PRUPIM’s well-regarded head, Martin Moore, who had given notice more than a year ago of his wish to retire, will stay on as chairman for a short handover period.