Jim Garman was named global head of real estate at Goldman Sachs Asset Management following the departure of co-head Takashi Murata, according to a memo seen by Pensions & Investments.
Mr. Garman will relocate to New York, said the memo by Marc Nachmann, global head of asset and wealth management and dated July 28. Mr. Garman was based in London.
He was head of real estate for Europe, the Middle East and Africa, a role now taken on by Richard Spencer. Mr. Murata was head of real estate for Asia, a role Nikhil Reddy takes on as Asia-Pacific head of real estate. Messrs. Spencer and Reddy will help to grow the business and develop teams at the regional and local level, the memo said.
Mr. Spencer was named a partner in 2018 and Mr. Reddy was named a managing director in 2019. Further details were not available.
GSAM had about $50 billion in real estate assets under management, according to its asset and wealth management investor day presentation, dated February.
Mr. Murata will join Warburg Pincus early next year as co-head of Asia real estate, according to Bloomberg.
Abigail Parrott contributed to this story.
