Michael Brennan

Professor Emeritus at Anderson School of Management

Irgens Executive Director of the James A. Graaskamp Center for Real Estate. Adjunct Professor - James A. Graaskamp Center for Real Estate, Real Estate & Urban Land Economics at Wisconsin School of Business


  • Anderson School of Management
  • Wisconsin School of Business




Anderson School of Management


Michael Brennan is a professor of finance at both UCLA Anderson and London Business School. His research interests include asset pricing, corporate finance, the pricing and role of derivative securities, market microstructure, and the role of information in capital markets. He has published extensively in all of these areas. He is currently working on several issues, including: the problem of asset allocation when investors face time-varying opportunity sets, initial public offerings and the allocation of control rights in the corporation, the determinants of international flows of portfolio investment, the role of convertible securities in corporate finance, and corporate hedging strategies.

A former president of the American Finance Association, he has served as editor of the Journal of Finance and was the founding editor of the Review of Financial Studies. He has consulted extensively for corporations in Canada and the US, and in 1995 he was awarded the INQUIRE Europe prize for his work on corporate hedging strategies.


Ph.D. Business, 1970, Massachusetts Institute of Technology
MBA Management, 1967, University of Pittsburgh
B.Phil. Economics, 1964, Oxford University


Bond Markets, Derivatives, Future Markets, Hedging Strategies, Interest Rates, Oil and Gas Industry, Mining, Insurance, Initial Product Offerings

Wisconsin School of Business

Michael W. Brennan has served as Irgens Executive Director of the James A. Graaskamp Center for Real Estate since 2008. He is also a Co-Founder, Chairman, and Managing Principal of Brennan Investment Group. Prior to forming Brennan Investment Group, Mr. Brennan co-founded First Industrial Realty Trust (NYSE: FR) in 1994, and served as President, Chief Executive Officer and a member of the Board of Directors until late 2008. Under his direction, the company assisted many of the nation’s largest industrial real estate users in completing complex multi-market supply chain reconfigurations, and attracted investment partners including The Carlyle Group, the Kuwait Finance House, Union Bank of Switzerland, ING, and the California State Teachers’ Retirement System.

Before joining First Industrial, Brennan was a President and Partner in The Shidler Group. He was also a founding investor of Tri-Net Property (NYSE: TRI) and Bermuda-based reinsurer CGA.

Brennan earned his Bachelor's degree in Finance from Notre Dame University. He currently serves on two boards: Pacific Office Properties (NYSE: PCE) and The Chicago Public Library Foundation.

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