Acore Adds Andrew Terry to Scale Insurance Business

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Acore Capital has hired Andrew Terry from asset management firm Schroders as a managing director to help expand the alternative lender’s capital markets business in the insurance industry, the company announced Monday morning. 

Terry, who spent eight years at Schroders and was most recently its head of North America insurance asset management, will report to Michael Romo, senior managing director and head of capital raising at Acore, out of the firm’s New York City office. 

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 “Andrew is a unique talent with deep relationships throughout the insurance industry,” Warren de Haan, CEO of Acore, said in a statement. “He brings a great track record and intimate understanding of how commercial real estate debt investment strategies provide solutions for insurance companies.”

During his time at Schroders, Terry helped grow the firm’s U.S. insurance business into a multibillion-dollar commercial real estate debt platform. Prior to working at Schroders, Terry served as a director in AllianceBernstein’s institutional client group focused on business development. He also was previously a relationship manager in the financial institutions group at BlackRock and an insurance equity analyst at Macquarie/Fox-Pitt Kelton

 “Acore has built a best-in-class business that benefits from a sterling reputation and track record among insurance companies,” Terry said in a statement. “Working for a firm that is recognized as one of the leading commercial real estate debt managers to the insurance community provides a unique opportunity to build upon the work and relationships that I have cultivated over the course of my specialized career.”

Andrew Coen can be reached at acoen@commercialobserver.com