Former Nama executive John Mulcahy will join the board of Irish property pension fund IPUT in July.

Mr Mulcahy is the former head of asset management in Nama. The chartered surveyor and former CEO of Jones Lang LaSalle's Irish busines joined NAMA in 2009.

IPUT is the fastest growing property pension fund in Ireland.

It recently shelled out a further €63 million on two high-quality Dublin office blocks in the expectation that office rents will rise significantly in the coming months.

The fund has paid €50 million for Facebook’s current European headquarters at Hanover Reach in the south Dublin docklands only weeks before the social network company relocates to a substantially larger block at 4 Grand Canal Square.

IPUT has also paid €13 million for a high-profile modern building at the junction of St Stephen’s Green and Hume Street.