Alex Turner was appointed head of property at USS Investment Management, the in-house manager and adviser to the £71.4 billion ($86.1 billion) Universities Superannuation Scheme, London.
Mr. Turner succeeds Graham Burnett effective March 31, according to a news release provided by a spokeswoman. Mr. Burnett, who is retiring, has led the real estate team since 2006; he joined USSIM more than 20 years ago.
USS' real estate portfolio had more than £5 billion in assets as of Dec. 31.
"Graham has made an enormous contribution to USS over the past 20 years and under his leadership, the property team have delivered an enviable long-term track record of outperformance," said Mike Powell, head of private markets, in the news release. "USS will also retain access to Graham's expertise as an adviser to USSIM and non-executive director of a number of USS portfolio companies".
Mr. Turner joined USS in 2009 and became deputy head of property in 2012. Details on any replacement were not immediately available.
