Real Estate Industry Group ANREV Rolls Out New Board

The Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV) has announced a flurry of changes to its management board, with leaders from some of the world’s biggest investors taking new seats at the non-profit.

ANREV has appointed James Kim, managing director and head of real estate & infrastructure at sovereign wealth fund Korea Investment Corporation (KIC) as a new member of its board, the association announced today. Kim is the first representative of the Korean state-owned firm, which has more than $134 billion of global assets under management, to join the decision-making body.

Also joining the ANREV board is Graeme Torre, who serves as head of private real estate for Asia Pacific at Dutch pension fund manager APG Asset Management. Based in Hong Kong, Torre joined APG Asset Management last December to oversee the firm’s more than $5 billion real estate portfolio in the region.

Torre’s seat at ANREV was previously occupied by Sachin Doshi, who resigned from APG in July of last year to start up Emerald Lake, a Hong Kong-based real estate private equity shop.

GIC, CPPIB Flip Board Faces

One executive at Singaporean sovereign wealth fund GIC is taking another’s seat on the ANREV management board, with Esther Teo replacing Kwok Wai Keong. Teo, a 15-year GIC veteran, serves as senior vice president with responsibility for GIC Real Estate’s investments in Southeast Asia, including Indonesia, Vietnam, Malaysia, Thailand and the Philippines. Her predecessor Kwok holds the title of senior EVP at GIC Real Estate.

To round out the quartet of board changes, the Canadian Pension Plan Investment Board (CPPIB)’s Guy Fulton, managing director of real estate investments, is taking the place of Jimmy Phua, managing director at CPPIB. Fulton is responsible for the acquisition of real estate investments for the Canadian pension fund across Asia, with a focus on Greater China.

Since joining CPPIB, Fulton has overseen the growth of the China portfolio to over $3 billion in equity exposure. The Canadian fund currently has over $45 billion of global property investments, of which Asia accounts for over $10 billion

ANREV Nears 10th Anniversary

Collectively, the four executives taking seats on ANREV’s board represent firms that are estimated to have more than $1.2 trillion in global assets under management.

“All four individuals are widely respected across the real estate investment industry, demonstrating ANREV’s ongoing commitment to involve leading investors in the organization’s agenda and the growing support from investors in the region,” commented Nicholas Loup, chairman of the ANREV management board and CEO of Chelsfield Asia.

“Each bring with them a strong depth experience and understanding that will be essential for ensuring ANREV remains an indispensable source of information for the industry and a platform for sharing ideas,” Loup added.

ANREV, which now has 204 member companies from 18 countries, is gearing up for a 10th anniversary Annual Conference in Tokyo this October.