Tullett Prebon Alternative Investments (‘TPAI’), a subsidiary of Tullett Prebon, has added Michael McKell as its newest Head of Real Estate Secondaries, according to a Tullett Prebon statement.
Tullett Prebon has a made a number of moves as of late, including the appointment of Carol Sergeant, CBE, as its newest non-executive director. However, the group’s latest move represents a bid to shore up its open-ended and specialist real estate trading funds. In his new role as the Head of Real Estate Secondaries, Mr. McKell will focus on TPAI’s recently launched TP-AIME, its screen-based matching engine.
His arrival also will usher in an extension of TP-AIME’s offering to a broader client base, which will now include unlisted real estate funds as well as its existing composition. He joins TPAI after a stint with Jones Lang LaSalle Inc, where he was responsible for establishing markets and trading unlisted real estate funds.
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According to Mr. McKell in a recent statement on the appointment, “The secondary market provides an efficient platform for investors to acquire a position to gain immediate exposure with minimal transaction costs. The ability to divest a position within a more efficient timeframe and at the best, market tested price provides the opportunity to crystallise returns and exit positions with ease.”
“By bringing greater transparency to the pricing of real estate secondaries the market will have greater confidence in its depth and liquidity which benefits all parties involved,” he added.
Tullettt Prebon plc is an inter-dealer money broker servicing a worldwide clientele across such channels as wholesale capital markets and the energy sector.