Woon Pin Chong has joined Franklin Real Asset Advisors (FRAA), a division of US investment giant Franklin Templeton Investments, as managing director for the Asia Pacific region.
Based in Singapore, Chong heads up the company’s Asia Pacific investment team, driving private real estate transactions, business development, and marketing of investment products and strategies in the region. He officially took the role in September and has been travelling to the company’s regional offices to meet with colleagues and clients, according to a recent announcement.
His roles also include leading the team in market research and alalysis. FRAA is an investment management platform of California-based Franklin Templeton focussed on global real estate and infrastructure.
Industry Veteran Takes Charge of FRAA’s Asia Property Platform
“Given his deep experience and extensive industry relationships in the region, a strong, well-respected leader like Woon Pin will no doubt expand and strengthen our real estate capabilities in APAC,” said Raymond Jacobs, Managing Director, FRAA in the statement.
Chong takes over from Glenn Uren, who retired effective last May after serving Franklin Templeton for 20 years. Uren led the Asia Pacific business while based in the firm’s New York office.
Prior to joining FRAA, Chong served as managing director at investment and asset management specialist Savant Global Capital, overseeing core investments in Asia with a focus on Australia. The more than 20-year industry veteran previously worked at Australian investment manager Centuria Capital as managing director of Asia, where he set up and headed the company’s wholesale and institutional real estate investor platform.
Chong has also held senior roles at Lend Lease Investment Management and Colliers International.
Franklin Templeton Brings Global Strategy to APAC
NYSE-listed Franklin Templeton has offices in over 30 countries and more than $753 billion in assets under management as of November 30, 2017. The company was among the cornerstone buyers that purchased about $382 million of stock in Warburg Pincus-backed Vincom Retail last November, when the Vietnamese mall developer had its initial equity offering on the Ho Chi Minh City Stock Exchange.
“In the private equity real estate space, we have observed that the Asia Pacific region remains a key market for our clients and investor interest is robust,” commented Mark Browning, Managing Director for Asia Pacific in a statenent. “Long term growth prospects for real estate in the region remain bright and supported by strong fundamentals.”
Asia Pacific investments are believed to account for nearly one third of the company’s overall global portfolio of real assets, according to a report in PERE. Franklin Templeton in recent years has launched a series of global-focussed, value-add real estate funds which include Asia opportunities, namely Franklin Templeton Private Real Estate Funds I and II.