AMP Capital, the Sydney-based fund management firm, has identified a new head for its wholesale office fund. 

Effective 1 January 2014, Nick McGrath will take the reins of the A$2.9 billion AMP Capital Wholesale Fund, an open-ended unlisted trust that offers investors exposure to high-quality assets across Australia and New Zealand. In the meantime, Tim Nation, head of real estate capital, will continue as acting fund manager.

McGrath is currently the chief executive of AIMS AMP Capital Industrial REIT, a Singapore-listed industrial REIT with S$1.1 billion in total assets. It is a managed in a 50-50 joint venture by AIMS Financial and AMP Capital. Before that, he was CEO of the firm now known as Frasers Commercial Trust. 

AMP Capital has at least A$131 billion ($120 billion) in funds under management as at 30 June 2013.