PGIM Real Estate, with assets under management of $210 billion, has appointed Rory Morrison as head of core strategies to lead its European platform. In this newly created position, he will be based in London and report to Sebastiano Ferrante, head of Europe.
Morrison will be responsible for the strategic and operational oversight of PGIM Real Estate's European core, European core plus and UK affordable housing strategies, working closely with the existing portfolio management teams. He will also be responsible for supporting the business development teams in raising funds for these key strategies.
With over 30 years' experience in the industry, Morrison was previously at Invesco Real Estate, where he was managing director, responsible for the diversified pan-European real estate strategy. During his 24 years at Invesco, he led numerous mandates involving strategy design, transaction execution and asset growth. He also held similar roles at Trillium, then owned by Goldman Sachs, and CB Hillier Parker, now part of CBRE.
Ferrante said: "Rory's appointment reflects our commitment to consolidating the European platform and strengthening our core strategies at a pivotal time in the real estate markets, where recovery is well underway. As we begin to see signs of capital flowing back and liquidity improving, we see a clear opportunity to drive growth by creating even greater alignment between our core investment strategies. We are delighted to welcome Rory as we position ourselves for the next phase of the cycle."
Morrison added: "PGIM Real Estate has one of the most diversified real estate investment platforms in the world. I'm delighted to be joining this talented team and building on the success of its core European strategy platform".