Private equity real estate firm Heitman has appointed former Anbang Insurance executive Brad Fu as Senior Vice President and Director of Asia-Pacific Acquisitions, based in the firm’s Hong Kong office, according to a statement by the company last week.
Fu joins Heitman just days after the Chicago-based firm after it announced a $338 million final close on its latest APAC fund.
Heitman Follows Up on Fund Closing With New Team Member
“We are pleased to welcome Brad to Heitman’s Asia-Pacific Private Equity team,” Skip Schwartz, Managing Director of Heitman’s Asia-Pacific Private Real Estate Equity group said in a statement. “Brad has a strong track record of executing successful real estate acquisitions and dispositions through market cycles and across the Asia-Pacific region.”
In his new role, the former director of global real estate investments at Anbang will report directly Schwartz as Heitman seeks to deploy the cash raised for its newly-closed Heitman Asia- Pacific Property Investors (HAPI) fund.
Looking for Acquisitions in the Region
According to an earlier statement by the company, Heitman will be targetting traditional assets, including retail, logistics, residential and office properties, as well as specialty classes, such as self-storage, student accommodation and medical offices for the fund.
In his former role with Anbang, Fu was responsible for sourcing and executing international real estate investments in direct asset and corporate transactions. Prior to joining the Beijing-based insurer, which became famous for its $1.95 billion acquisition of the Waldorf Astoria, and infamous its founder’s criminal conviction, the graduate of New York University’s Stern School of Business served as Portfolio Manager for Strategic Asia Real Estate at Dutch pension fund manager APG Asset Management, and also has experience as an investment banking analyst at Singapore’s DBS Bank.