Warburg Pincus hires Merrill real estate pro

The global private equity house has hired managing director Michael Profenius from Merrill Lynch's real estate investment banking group.

Warburg Pincus, the global private equity house, has announced that Michael Profenius has joined the firm as a managing director.

Profenius had previously served as the global co-head of Merrill Lynch's Real Estate and Hospitality Investment Banking Group. He has more than 20 years' experience in real estate transactions.

Profenius is currently based in Warburg Pincus' London office and will relocate to New York this summer to lead the firm's real estate investment activities.

In April, Warburg Pincus announced the appointment of another senior advisor, Sir Alec Broers, to expand the firm's global investment activity in the information and communication technology sector.

Broers is ex-vice chancellor of Cambridge University and prior to his spell at Cambridge spent 20 years doing research and development at computer hardware provider IBM.