PEOPLE

Andrew Thornton – Chief Executive Officer


Andrew Thornton

Chief Executive Officer

Andrew is the Chief Executive Officer of Principal Real Estate Europe and is responsible for business strategy and business development. He chairs the Principal Real Estate Europe Management Committee and is a member of the Investment Committee. Andrew is also Chair of Principal Global Investors Europe and a member of the Principal Global Real Estate Strategic Working Group.

Andrew, together with Jos Short founded INTERNOS Global Investors, (now Principal Real Estate Europe) in 2008.  Andrew was previously one of the founders, and ultimately Chief Operating Officer, of Invesco Real Estate in Europe prior to which he had roles at the developer Lend Lease and Weatheralls, where he valued, leased and transacted properties across England and Central London.

Andrew has a degree in Economics and Land Economy from Cambridge University and holds an MBA. He is a Fellow of The Royal Institution of Chartered Surveyors, a Chartered Fellow of the Securities and Investment Institute and a Fellow of the Chartered Institute of Marketing.

Patricia A. Bailey – Chief Financial Officer


Patricia A. Bailey

Chief Financial Officer

Pat is the Chief Financial Officer for Principal Real Estate Investors, the dedicated real estate group within Principal Global Investors. She is responsible for the preparation, review and forecasting of all financial information for the real estate asset management business as well as the teams that prepare the financial information for the investment classes in the US and Europe.

Pat joined Principal in 1990 after working for General Growth Management Company. Prior to her current role, Pat served as a manager of investment accounting for mortgages and real estate at Principal Life Insurance Company and then served as the CFO for Principal’s commercial mortgage backed securitization platform. She received a bachelor’s degree in management and accounting from Upper Iowa University.

Pat has previously been the chair of the CRE Finance Council’s Accounting Policy Committee and The Mortgage Bankers Association’s Financial Disclosure Committee.

John T. Berg - Head of Private Equity Portfolio Management


John T. Berg

Head of Private Equity Portfolio

John is a senior managing director at Principal Real Estate Investors and oversees the firm’s private equity portfolio management group. He is a member of Principal Real Estate Europe’s Management and Investment Committees and is also the portfolio manager of the Principal U.S. Property Account, a core open-end real estate strategy.

John joined Principal in 1994 and has spent his entire tenure with the firm in the real estate equity area. In addition to portfolio management, John has significant experience in asset management and product development. He received an MBA from the University of Iowa and a bachelor’s degree in economics and psychology from Georgetown University. John serves on Principal Senior Managing Director, Real Estate Investors’ investment committee.

Giles Smith – Head of Fund Management


Giles Smith

Head of Fund Management

Giles is head of fund management for Principal Real Estate Europe and head of its London office. He is responsible for the management of discretionary and advisory capital as well as business development initiatives at corporate and product level.

A Chartered Surveyor with 19 years’ experience in fund management and corporate real estate, Giles joined Principal Real Estate Europe (formerly Internos Global Investors) in 2008 as a Fund Manager, with exposure to real estate investment, portfolio and asset management across multiple asset classes, risk profiles and jurisdictions.

Giles began his career with ATIS Real Weatheralls, providing corporate real estate and consulting services for major listed companies such as London Electricity and Barclays. Giles moved on to become Real Estate Corporate Finance Manager at Deloitte & Touche, working on real estate transactions including the sale and leasebacks as well as providing structural and strategic advice on real estate investment funds.

 

Guillaume Masset - Head of Transactions and Asset Management Europe


Guillaume Masset

Head of Transactions and Asset Management Europe

Guillaume is responsible for transactions and asset management for Principal Real Estate Europe and for business development. He is the Président of the Principal’s French regulated entity, Principal Real Estate SAS, Head of the Paris Office and Regional Head for Netherlands and Southern Europe, with offices in Amsterdam, Madrid, Lisbon and Milan.

Before joining Principal Real Estate Europe (formerly INTERNOS Global Investors) in December 2011, Guillaume launched the Paris Office of Invista REIM in 2007, with €750 million of assets under management. Prior to joining Invista, Guillaume was Structuring and Financing Director at STAM Europe,  where he spent more than 6 years, with responsibility for underwriting and bank financing, raising and structuring several investment funds.

Guillaume graduated from ESC Rouen business school and Carlos III university in Madrid, and holds a DECF and DESCF (CPA).

Indraneel Karlekar, Ph.D. - Global Head of Research & Strategy

 
   Indraneel Karlekar

     Global Head of Research & Strategy

Indy is global head of research and strategy for Principal Real Estate Investors and chairs the Principal Real Estate Europe Investment Committee.

Indy is involved  with the allocation of capital via the creation of real estate portfolio strategies across the four quadrants of commercial real estate. He is a member of Principal Global Investors’ Economic Committee and is responsible for  the delivery of our economic and real estate views to external clients

Indy joined the industry in 2003 and Principal Real Estate Investors in 2013. Prior to his current role he has served as an executive vice president and chief investment strategist at Cole Real Estate Investments and head of global research and strategy at ING Clarion, where he worked on creating global top-down asset allocation strategies by analyzing macroeconomic and real estate variables and was responsible for investment research, white papers, and new product development. Prior to ING, he was a member of the global research team at AIG Global Real Estate. Indy started his career as an Economic Analyst at The Economist Intelligence Unit. He received a Ph.D. in economics from University of Cambridge and is a member of PREA,NCREIF and AFIRE.

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