Mark Carpenter was named head of Henderson New Star property funds at Henderson Global Investors, a spokeswoman confirmed.
He will run the £643 million ($1.06 billion) New Star International Property Fund and the £313 million New Star UK Property Unit Trust.
Mr. Carpenter was a fund director in the property division of Henderson Global Investors, which acquired New Star Asset Management in April. His duties will be reassigned to existing employees.
He replaces Roger Dossett, who will leave Henderson New Star before September to pursue his own niche property interests, the spokeswoman said. Mr. Dossett will stay on to help in the transition to Mr. Carpenter.
Henderson manages £53 billion, including £8 billion in real estate investments.