The UK’s largest asset manager, L&G, has named the managing partners of real estate investor Proprium Capital Partners, as the global co-heads of its newly-established real assets division.
Tim Morris and Philipp Westerman have been appointed to drive the expansion of its infrastructure and real estate strategies across new markets, including Asia, Europe and the US.
In their dual roles, Morris will be primarily responsible for leading L&G’s global real assets division while Westermann will continue to lead Proprium.
L&G acquired a 75% stake in Proprium in May 2025.
The asset manager, that has £1.1 trillion in assets under management, has set a target of £85 billion in AuM for its private markets division, to be achieved by 2028.
