JER Partners’ chief operating officer, Michael Pralle, has quit the property fund manager after only 18 months in the job.
Pralle, the former president of GE Real Estate, resigned from the Virginia based opportunity fund manager for ‘personal reasons’ two weeks ago.
He joined the firm in October 2007 with a mandate to expand the JER brand and triple its assets under management in five years.
His departure follows that of former president of European operations, Malcolm Le May, in February after six years at the company, and the exodus of directors Angus Dodd, James Bury and Marc de Chassey – all of whom were brought to the business under Le May.
JER refused to comment on the circumstances surrounding his resignation, but said that it would not lead to any change in strategy.
The company is conducting a search for a replacement at the moment, but in the interim it is being run by Joe Roberts, chairman and founder of the JER.