DES MOINES, Iowa--(BUSINESS WIRE)--
Principal Financial Group® has announced Pat Halter, current CEO and senior executive director of Principal Real Estate Investors, will assume the role of chief operating officer for Principal Global Investors. Jim McCaughan remains CEO of Principal Global Investors and president of global asset management for Principal®.
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Pat Halter, 57, will assume the role of chief operating officer for Principal Global Investors. (Photo: Business Wire)
“Pat’s leadership and track record during his 32 years in Principal Real Estate Investors positions him well to oversee operations of Principal Global Investors as we focus on future growth,” said McCaughan. “Under Pat’s leadership, Principal Real Estate Investors has grown assets under management to more than $72 billion as of the end of the third quarter and doubled its client base.”
Halter will continue to lead Principal Real Estate Investors while taking on responsibility for the day-to-day operations of Principal Global Investors, including oversight of the following boutiques: Spectrum, Post, Columbus Circle Investors and Principal Portfolio Strategies.
Since joining Principal in 1984 as a commercial real estate representative, Halter has held several leadership positions within Principal Real Estate Investors before assuming the role of CEO of the boutique. As head of real estate, Halter is responsible for overall global real estate strategy, new business development, and business management, including oversight of staff located in the United States, Europe, Asia, and Australia. His expertise includes product and fund design, new business development, portfolio strategy and investment management.
A native of Wisconsin, Halter received a MBA degree in finance and a bachelor’s degree in finance and marketing from the University of Wisconsin. He is past Chairman of the Board of the National Association of Real Estate Investment Managers (NAREIM) and a member of the Real Estate Roundtable. Halter is also a member of the Pension and Real Estate Association (PREA), the Association of Foreign Investors in Real Estate (AFIRE), and serves on the Board of the Graaskamp Center for Real Estate at the University of Wisconsin.
With Halter’s new role, Todd Everett, head of Principal Real Estate Fixed Income, will assume additional duties within Principal Real Estate Investors, including the direct oversight of its private equity segment.
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