MPFA Chairman's term extended; Prudential HK hires responsible investment manager; Muzinich names Asia CEO; LaSalle IM reshuffles Japan team; PGIM appoints institutional relations head for Australia, New Zealand; Natixis IM gets regional head of equity; and more.
TCorp names head of real assets and private markets; Aviva Investors appoints APAC head from Franklin Templeton; Fidelity International appoints Southeast Asia and Singapore head; La Salle hires head of RMB strategy from PGIM; GAM hires Japan equity analyst; and more.
The UK property asset manager has set a hard cap of $1 billion for LaSalle Asia Opportunity V, with the first close scheduled for October. It has already made an acquisition.
Z-Ben research head moves on; New CEO for BNPP Cardif; LaSalle IM's co-CEO retires; First investment post for M&G in Asia; China Alpha FM bags CEO; Colliers hires HK MD
High valuations in the two cities, combined with emerging market concerns, have prompted the real estate manager to focus on residential property in Australia and Korea and logistics projects in Japan.
LaSalle Investment Management's third Japan Logistics Fund closes as demand for logistics properties are up, the yen is down and exports are expected to rise.
The firm gains an asset management licence to capture heightened demand by Korean institutions seeking real estate exposure in the West.
An estimated $110 billion is expected to flow into Asian commercial real estate this year, making up one-quarter of the global total, forecasts Jones Lang LaSalle.
After eight years with the firm, one of the real estate specialist's senior fund managers has moved on.
Having decided it is happy with assets acquired in its Asia Opportunity Fund III portfolio, LaSalle returns $600 million of left-over capital to property investors.
There are several spots where opportunistic property funds can pick up good buys, says Andrew Heithersay of LaSalle Investment Management, which has just acquired an Australian real-estate funds business.
A comment made during the real estate panel at AsianInvestor’s 6th annual Asian Investment Summit begs the question: who is driving Asian real estate acquisitions?