L&G has today announced the appointments of Tim Morris and Philipp Westermann, Co-Managing Partners of Proprium Capital Partners (Proprium), as Global Co-Heads of Real Assets. The hires will further strengthen L&G’s Asset Management leadership team and deepen the partnership between the businesses, following its strategic acquisition of a 75% stake in Proprium, a global real estate investor.
L&G’s £1.1 trillion Asset Management business sits at the heart of the Group’s strategy, with scaling global private markets a key growth priority. Building on its strong position in UK private markets, Tim and Philipp will drive the expansion of Infrastructure and Real Estate strategies across new markets, including Asia, Europe and the US, further strengthening L&G’s Global Real Assets proposition and supporting delivery of its over £85bn private markets AUM target by 2028. L&G's private markets business has already grown significantly, with latest AUM at over £70 billion.
In dual leadership roles, Tim will take primary responsibility for leading L&G’s Global Real Assets proposition. Philipp will lead the continued growth and alignment of Proprium Capital Partners, providing strategic direction and operational support across the broader L&G Real Assets business. His leadership will be critical to Proprium's expansion following L&G's strategic acquisition.
Source: group.legalandgeneral.com on 28 January 2026
https://group.legalandgeneral.com/en/newsroom/press-releases/l-g-appoints-tim-morris-and-philipp-westermann-as-global-co-heads-of-real-assets-in-asset-management-global-growth-drive