CEDAR RAPIDS, IA—Industry veteran Philip J. McAndrews has joined Aegon USA Realty Advisors LLC (AURA) as head of real estate equity. McAndrews has 25 years of experience at TIAA, including four years as CIO of the global real estate division.

While with TIAA, McAndrews negotiated pioneering investments in the US for several of the world's largest sovereign wealth funds and collaborated on TIAA's acquisition of the $24-billion Henderson Global Investors real estate platform in 2015. At the time of his departure from the firm, he led a team of 160 professionals responsible for all equity and debt real estate activity for TIAA with assets under management exceeding $66 billion. McAndrews and senior managing director Tom Garbutt both left in 2016, following TIAA's establishment of a new business unit focused on real assets globally.

“We look forward to Philip applying his extensive expertise to the development and expansion of the real estate business, in particular to build out a successful equity real estate platform,” says Gary Black, CEO for AURA. “With his deep experience, talent and track record of transformation in the global real estate space, Phil will play a key role in the continuing innovation of the firm's product offerings.” For his part, McAndrews says he looks forward to working with the AURA team “to provide Aegon's clients with the strategic vision, market access and service required to help them meet their investment objectives.”

Headquartered in Cedar Rapids, IA, AURA currently has $16.9 billion in assets under management/advisement. Two-thirds of that tally is in commercial mortgages, while real estate equity represents about 5%.

Instant Insights /

McAndrews Joins Aegon; Will Head RE Equity

Related Stories

Recommended For You