M&G Names Jason Leong to Lead Asia Fund as van den Berg Heads for the Exit

M&G Real Estate has chosen new leadership for its flagship Asia property vehicle, naming Jason Leong as fund manager for the $7 billion strategy, according to a statement today.

Leong, who joined M&G two years ago as deputy fund manager for the M&G Asia Property Fund, is taking over leadership of the strategy from Richard van den Berg, who will retire at the end of June after more than eight years with the UK investment manager.

“Richard’s legacy in the industry will be as a pioneer, thanks to the role he has played in bringing the dynamic and vibrant Asian real estate market much further up the agenda of global institutional investors throughout his career,” said M&G Real Estate Asia CEO and CIO JD Lai. “He has been integral to expanding the scale and resilience of our Asia property portfolio, whilst his mentorship enables us to draw on our pool of talented investment professionals as part of our succession plan.”

During van den Berg’s tenure, M&G has diversified its flagship Asia property fund via acquisitions in logistics, retail, residential and offices in developed Asia Pacific markets, including Australia, Japan, Singapore and South Korea, the company said.

Developed-Market Focus

“Leading this strategy has been an honour, marked by significant team achievements including the $1.05 billion acquisition of Centropolis Towers in South Korea – a twin office asset signifying the largest single real estate transaction in the country’s history – and the $700 million purchase of the Minato Mirai Center Building, a prime grade A office complex in Japan,” van den Berg said.

The 36-year industry veteran also pointed to M&G’s investment in Australian build-to-rent specialist Novus as a landmark deal for the strategy.

During his time with M&G Leong led multiple acquisitions and developments, including the strategies recent acquisition of a 50 percent stake in the $135.2 million Ingleburn Logistics Park in Sydney and the completion of the construction of the Surbana Jurong business park campus, in Singapore.

Before joining M&G in 2023 Leong spent more than 11 years with Investa Property Group, including serving just under two years as head of investment management for the Aussie fund manager. The University of Technology Sydney graduate also has experience at LaSalle Investment Management and Japan’s now-defunct New City Corporation.

“Jason’s extensive experience and his collaboration with Richard have driven the performance of the M&G Asia Property Fund over the last two years,” JD Lai said. “These foundations position him exceptionally well to lead the strategy into its next phase, driving further growth and exploring new opportunities in the evolving real estate market.”

With four offices in Asia Pacific and nine locations in Europe managing the real estate element of M&G Investments’ $92.8 billion private markets business, M&G Real Estate ranks as the eleventh largest property fund manager globally among non-US players, according to the company statement.