Vancouver-based QuadReal Property Group has named a new top executive in Asia, as the global real estate investment firm that manages C$24.5 billion ($19.3 billion) of Canadian public funds continues to build up its leadership team.
QuadReal has hired Peter Kim in the role of Managing Director, Asia, tasked with building the firm’s international portfolio in the Asia Pacific region. The investment veteran, who stepped down from the Abu Dhabi Investment Authority (ADIA) in October, joins the firm’s international property division led by QuadReal CEO Dennis Lopez and president of international real estate Jonathan Dubois-Phillips.
QuadReal was formed in June 2016 to manage the worldwide real estate portfolio of the British Columbia pension fund giant bcIMC, and the new appointment comes two months after the company rounded out its eight-member global executive team.
Kim To Grow Asia Portfolio of $19B Firm
“Peter’s breadth and depth of global industry experience bolsters QuadReal’s already strong international team capabilities, most notably in the Asia-Pacific region,” commented Dubois-Phillips in a statement. “In coming years, we plan to grow our international portfolio significantly,” he added.
Kim brings over 20 years of global real estate experience to the table, having most recently worked as Senior Portfolio Manager in the Real Estate and Infrastructure Department of Abu Dhabi’s $828 billion sovereign wealth fund, overseeing its Asia Pacific strategy.
Prior to joining ADIA in 2013, Kim served as managing director at CBRE Global Investors, based in Hong Kong for over four years, after spending three years as managing director of ING Investment Management. The graduate of Connecticut’s Wesleyan University also worked at Lehman Brothers for 11 years, where he built and headed the bank’s Asia real estate investment banking team.
“I look forward to being part of the team to manage and grow a portfolio that will perform well across multiple economic cycles,” Kim said in the statement.
QaudReal To Ramp Up Overseas Investments
QuadReal is invested in over 150 cities across 17 countries. Canada accounts for roughly 90 percent of the asset portfolio, with Asia comprising about a quarter of the remaining 10 percent, according to a report earlier this year.
In its latest Asia venture, QuadReal joined with Canada’s Ivanhoé Cambridge last month to back Logos Property’s India expansion via a planned $800 million investment in logistics facilities across the country. The real estate investor, developer and manager is owned by bcIMC, the fourth-largest fund manager in Canada.