L&G has appointed Tim Morris and Philipp Westermann, co-managing partners of Proprium Capital Partners, as global co-heads of real assets. After L&G’s acquisition of a 75 percent stake in Proprium in May 2025, Morris and Westermann are expected to strengthen L&G’s Asset Management leadership team and deepen the partnership between the businesses.
Morris and Westermann will drive the expansion of the firm’s infrastructure and real estate strategies across new markets, including Asia, Europe and the United States to strengthen L&G’s global real assets proposition and support its target of reaching more than £85 billion ($117 billion) private markets assets under management by 2028.
L&G’s private markets business already has grown significantly, with its latest assets under management standing at more than £70 billion ($97 billion). This makes L&G one of Europe’s largest asset managers.
Morris will be responsible for leading L&
