LGIM Real Assets launches US equity platform with new hires

Legal & General Investment Management Real Assets has appointed Aegon Asset Management’s Alexia Gottschalch and Tim Watson to support the launch of its new real estate equity platform in the US. Gottschalch will be head of real estate equity, US, while Watson will be head of investment and portfolio management, US real estate equity. Both are newly created roles. Based in Chicago, Gottschalch will be responsible for building out the US real estate equity platform incorporating acquisitions, asset management, operations, financial planning, marketing, product development and strategic initiatives. She will report to the chief executive of LGIM America and the global head of real assets in London.   Watson will be responsible for developing investment programs, identifying new investment opportunities, and oversight of investment and portfolio performance. Watson is also based in Chicago and will report to the head of real estate equity, US. At Aegon, Gottschalch was managing director, global head of client strategy, real assets and US head of equity real assets. Over her 27-year career, she has also held leadership positions at Invesco, JP Morgan, Grosvenor, Independence Capital Partners and Prudential Financial.  Watson was a portfolio manager at Aegon, overseeing investment performance and capital deployment for various strategies, with a focus on affordable and value-add multi-family real estate investment. He previously held roles at RBC Capital Markets, National Equity Fund and JPMorgan Chase.  The hires are set to bolster LGIM Real Asset’s expansion into the real estate equity sector within LGIM America, after it launched a US private credit capability in 2017. The strategy is designed to deliver on investor demand for real estate equity exposure on behalf of Legal & General Retirement America and third-party US clients. LGIM Real Assets said the new equity platform will seek growth opportunities in a real estate equity market that is “significantly larger and more liquid” than the UK market, adding that it represented an opportunity to leverage its core competencies in urban regeneration, build-to-rent and long-lease property.  The platform will support both LGRA’s US pension risk transfer and third-party clients with a focus on key sectors such as multi-family residential and life sciences, while continuing ESG implementation through the investment process. Bill Hughes, global head of real assets, said: “The launch of our equity capabilities in the US represents a huge opportunity to mirror our success in the UK, investing in the real economy to improve lives and deliver positive social outcomes.” Aaron Meder, chief executive of LGIM America, said: “In the US, renewables, commercial property and build-to-rent are asset classes that have existing large market opportunities and where we believe our clients can benefit from our new leadership team’s investment expertise and insights.”   To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Image: LGIM Real Assets/FTI