APG Asset Management has hired Graeme Torre as Head of Private Real Estate, Asia Pacific, based in Hong Kong. Torre also now serves on the board of APG Investments Asia Limited and APG Asset Management’s global real estate management team, according to a statement by the Dutch pension fund manager.
In his new role, Torre now oversees the company’s private real estate portfolio in Asia Pacific, which totals over $5 billion in direct assets, indirect fund investments, joint ventures and other deals.
The appointment comes after Sachin Doshi stepped down as the company’s Head of Real Estate Investments for Asia Pacific to start his own private equity venture in June. Hong Kong-based Doshi had been with APG since 2011, managing the company’s non-listed real estate portfolio.
Torre Takes Charge of Dutch Giant’s $5B Asia Portfolio
Torre previously worked as Managing Director for Asia Pacific at Invesco Real Estate, leaving the US-based asset manager in March of this year. He took the role in 2011 after Invesco absorbed AIG’s Asia real estate platform, where he headed Asia Real Estate from 2005. Prior to AIG, Torre served as Head of Asia Pacific Real Estate for Henderson Global Investors, based in Singapore.
APG Asset Management has a global portfolio of around $43 billion targetting investments across the risk spectrum. In October, the pension giant bet on facilities for Australia’s ageing population by buying a roughly A$450 million ($352 million) stake in the retirement living business of Lendlease Group.
Last month, APG injected $175 million into Virtuous Retail South Asia, an Indian retail venture the company formed with Xander Group last year. APG has already committed about $450 million in equity to the platform, which acquired the North Country Mall in the state of Punjab for $109 million in May.
The global asset manager is also a key backer of Asian warehouse builder and operator e-Shang Redwood (ESR).