Pramerica Real Estate Investors has appointed Philip Barrett as global chief investment risk officer.
Barrett most recently served as chief risk and investment officer for Middle East, Europe, Australia and Asia, and his new role adds responsibility for the US and Latin America.
Pramerica Real Estate Investors is the real estate investment and advisory business of US-based Prudential Financial.
Eric Adler, chief executive at Pramerica Real Estate Investors, says, “Philip’s promotion is a reflection of the success he has achieved in overseeing investments in Europe and Asia and the confidence that the business has in his abilities, as he takes additional responsibility for our operations in the United States and Latin America. I have no doubt that Philip’s experience and understanding of Pramerica’s business and its investors will prove invaluable in his expanded role, and I congratulate him on his well-deserved promotion.”
Barrett joined Pramerica in May 1999 after spending nine years at Arthur Andersen. At Pramerica, he joined and ultimately led the European opportunity and value-add funds group, which originated, arranged and invested more than EUR1.7bn in equity in more than EUR6bn of real estate in 10 countries across Europe. He has experience in all primary real estate sectors, along with senior care, hotels and self-storage.