Legal & General Property ('LGP') announces that it has appointed Adam Kerr as Head of Transactions. Kerr is the latest senior addition to LGP, following the restructure of its management team announced last month, which included the promotion of Gordon Aitchison, former Head of Transactions to a new position of Director of Investment and Development.
In his new role, Kerr will report directly to Gordon Aitchison, helping to source transactions which meet LGP's various funds criteria. Kerr will initially focus on the creation of long term income deals through sale and leasebacks and development, but will also assist with the launch of the new innovative fund products.
LGP has continued to focus its attention on the changing needs and appetites of clients during this period of ongoing economic volatility. These include the recent successful launch of the LPI (Limited Price Inflation) Income Property Fund, a segregated mandate, the Property Hybrid Fund and the UK Property Income Fund (UK PIF), which closed last month with a total investment capacity of circa £475 million.
The appointment follows Gordon Aitchison's promotion to Director of Investment and Development, which involves him taking over the additional responsibility for LGP's development team. This new role not only provides further integration between the investment activities of the fund platform and its development pipeline, but also allows for greater visibility in terms of identifying transactions which might need specialist development skills to maximise returns.
Gordon Aitchison, Director of Investment and Development, commented: "With a wealth of investment experience and a strong network of industry contacts, Adam is a formidable deal maker and makes a welcome addition to the transactions team, helping us to further expand our access to off-market deals and capitalise on a range of market opportunities.
"LGP has significantly grown its transactional and development capabilities over the last few years through a number of strategic hires in order to enhance its access to off-market deals and extend its project pipeline. Adam's appointment follows the culmination of a larger restructuring programme and further strengthening of the platform."
Source: FTI Consulting