Ivanhoé Cambridge announced today the appointment of George Agethen as Senior Vice President, Asia-Pacific, Growth Markets.
Agethen’s recruitment comes as the Canadian real estate fund manager steps up its activities in Asia after leading more than $1.3 billion in Chinese property investments this year.
Ivanhoé Cambridge did not provide details as to Agethen’s responsibilities in his new role, however, the veteran fund manager’s primary experience in previous roles has been in capital raising and new business development.
Canadian Fund Manager Building Its Asia Presence
In a statement, Ivanhoé Cambridge, which is the real estate arm of of Montreal-based fund manager Caisse de dépôt et placement du Québec, made it clear that Agethen’s new role is part of a renewed emphasis on Asia.
“George has extensive experience in our industry, and more specifically in the Asian real estate market,” declared Rita-Rose Gagne, Executive Vice President, Growth Markets, Ivanhoé Cambridge. “His arrival will enable us to continue to build and develop our team in tandem with our platform’s growth and to deploy our resources in markets where we are expanding our investments.”
In late June this year Ivanhoé Cambridge joined with Dutch pension-fund manager APG to lead a $920 million investment in Hong Kong-based developer Chongbang Group for its mixed-use projects in Shanghai.
Just a few days later the fund manager announced a $400 million joint venture with CBRE Global Investment Partners and Logos China Investments to develop logistics facilities in China.
Bringing on an Industry Veteran
Based in Hong Kong, Agethen will oversee Ivanhoé Cambridge’s implementation of investment and asset management strategies for the region, and will also take responsibility for the company’s Shanghai office.
Before joining the Canadian firm, Agethen spent just over a year with Ping An Trust as a Senior Executive Director where he was responsible for establishing a multi-asset real estate portfolio investing globall for the branch of the Chinese insurance giant. Prior to joining Ping An, the University of New South Wales graduate had spent over two years with Harvest Real Estate Investments (HREI) as head of capital markets.