PGIM Real Estate has appointed Rory Morrison as head of Core Strategies for its European platform. PGIM Real Estate is the US$212 billion real estate investment business of PGIM and the third-largest real estate firm globally.
Based in London, Morrison will have strategic and operational oversight of PGIM Real Estate’s European Core strategy, European Core Plus strategy and UK Affordable Housing strategy, working closely with the existing portfolio management teams. His responsibilities will also include supporting business development teams on fundraising for these key core strategies. In this newly created role, Morrison will report to Sebastiano Ferrante, head of Europe.
With over three decades of industry experience, Morrison joins from Invesco Real Estate, where he was managing director, responsible for their diversified pan-European real estate strategy. In the 24 years at Invesco, Morrison led numerous client mandates responsible for devising strategies, executing transactions and driving asset growth. He also held similar roles at Trillium (when owned by Goldman Sachs) and CB Hillier Parker (now part of CBRE).
Ferrante comments: “Rory’s appointment reflects our commitment to strengthening the European platform and advancing our core strategies at a pivotal moment in the real estate markets, with recovery well underway. As we begin to see signs of core capital returning and liquidity improving, we see a clear opportunity to drive growth by creating even greater alignment across our core investment strategies. We’re thrilled to welcome Rory on board as we position ourselves for the next phase of the cycle.”
Morrison adds: “PGIM Real Estate has one of the most diversified real estate investment platforms globally. I’m excited to join this talented team and build on the success of its European core platform.”
Morrison’s appointment follows the promotion of Shaun Hose to head of UK Equity in February this year, as the business continues to invest and strengthen its European team.
“As we begin to see signs of core capital returning and liquidity improving, we see a clear opportunity to drive growth by creating even greater alignment across our core investment strategies.” Sebastiano FerranteHead of EuropePGIM Real Estate
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