Pimco strengthens real estate division

Pimco has appointed former Morgan Stanley executive Paul Vosper to the specially created role of executive vice-president and real estate strategist. Paul Vosper will manage the firm's 49-strong real estate team and report to Jennifer Bridwell, managing director and global head of Pimco’s alternative products division. At Morgan Stanley, he served in a number of roles, most recently co-head and chief operating officer for the firm’s Alternative Investment Partners arm. A spokesperson for the firm said his experience there of creating customised solutions for both institutional and private clients was important. Prior, he was head of client relations for Europe, the Middle East and Africa for Deutsche Bank, and a managing director in AllianceBernstein’s real estate investing division. Pimco manages around $9 billion (€8.1 billion) in real estate investments globally, representing over two fifths of the firm’s alternative investments. The appointment is part of an ongoing recruitment drive at Pimco, which has seen over 130 new staff hired globally this year. Earlier this month, the firm made two new appointments to its troubled emerging markets division. Despite falling fortunes since the departure of Bill Gross, Pimco continues to manage assets of $1.5 trillion, as of December 31, 2015. ©2016 funds europe

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