Investment managers and pension funds lead this week’s review of personnel moves from around Asia’s real estate industry, featuring a pair of senior Korean executives. Blackstone also makes the list with a new chief for its private REIT.
Regional private equity firm Phoenix Property Investors announced on 19 August that it has hired Kwanghyun (Tommy) Kim as managing director and head of South Korea. Kim joins the fund manager from local player Hangang Asset Management where he had served as chief executive from 2022 to until recently, after first joining the firm in 2021. Kim also has previous experience with Samsung SRA Asset Management and with the real estate business of telecom firm KT.
Suyi Kim has resigned from her role as global head of private equity with the Canadian Public Pension Investment Board after nearly 17 years with CPPIB, according to a statement on her LinkedIn profile. After opening CPPIB’s first international office in Hong Kong in 2007, Kim announced her intention to embark on “a new professional journey at the end of this year.” In a statement, CPPIB management thanked Kim for her dedication and leadership.
Blackstone announced on 22 August that it has promoted Wesley LePatner to chief executive officer of Blackstone Real Estate Income Trust with effect from 1 January 2025. LePatner, who has been with Blackstone since 2014 and currently serves as BREIT’s chief operating officer, is taking over the CEO role from Frank Cohen, who plans to retire at year-end after three decades with the firm. Cohen will remain chairman of BREIT’s board of directors.
Khiroda Jena resigned from his position as group chief financial officer of Mumbai-based builder Kolte-Patil Developers Ltd earlier this month after less than two years at the company, according to a bourse announcement. Formerly vice president for finance at Tata Housing, Jena has been appointed as chief financial officer and chief risk officer for Bombay Dyeing and Manufacturing Company, according to a separate announcement.
Joseph Leung has been promoted to deputy managing director for asset management at Chinachem Group in Hong Kong, according to a LinkedIn update. Now responsible for managing the privately held developer’s portfolio of eight million square feet (743,000 square metres) of investment properties, Leung took on his new role after just over a year as director of leasing with Chinachem’s asset management team and has now been with the company for over five years.
Steven McMahon is now officially part of the ESR family in Singapore, according to a LinkedIn update. McMahon continues to carry the title of director of fund management and capital with ESR group after serving in the same capacity at Logos for the past year. Logos was acquired by ESR through its buyout of ARA Asset Management in 2022, with the industrial specialist having recently been brought more thoroughly under the corporate umbrella.
CBRE has hired Hannah Jeong as head of valuation and advisory services for Hong Kong, according to a press release on 21 August. Jeong takes on responsibility for the property consultancy’s VAS work in the city from Rita Wong, who continues to serve as head of valuation and consulting for Greater China with the company. Jeong joins CBRE after earlier serving as head of valuation and advisory services for Colliers in the city.
Alice Fong has joined Aurum Credo Ltd in Shanghai where she now assists wealthy individuals with investments in distressed asset opportunities in Asia Pacific, according to a LinkedIn update. Fong takes on her new role after nearly four years as a vice president with North American developer and investment manager Walton Group. The graduate of Canada’s Simon Fraser University also has previous experience with Zhongrong Trust in Hong Kong.
If you know of other Asia real estate professionals changing their jobs, getting promoted or just doing something exciting, please contact us here at Mingtiandi.
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