Richard Hill has joined Principal Asset Management as global head of real estate research and strategy, according to a company announcement.
Hill replaces Indraneel Karlekar. Karlekar left Principal to join Clarion Partners as a managing director and global head of research and strategy at the start of 2024.
A Principal spokeswoman said Hill is taking on “an expanded role” in leading the firm’s real estate research and analytics team globally.
Hill was head of real estate strategy and research at Cohen & Steers. A Cohen & Steers spokesman declined to comment.
Principal’s real estate business manages more than $100 billion in real estate equity and debt instruments globally, up from $98.8 billion at the end of 2023.
