The real estate arm of Morgan Stanley Alternative Investment Partners, AIP Real Estate, has just re-hired an old associate to head its Asia team. Jon Sandstrom re-joins AIP from GTIS Partners, where he worked as a consultant for its US and Brazilian real estate funds, according to an internal memo seen by PERE. A Morgan Stanley spokesman confirmed the memo, but declined to comment further.
Sandstrom will assume the role of a vice president of AIP and will report to AIP Real Estate’s portfolio manager in London, Catherine Hong. Sandstrom himself will be the only AIP real estate investment team member based in Asia, according to Morgan Stanley’s website.
Sandstrom originally joined AIP’s New York team in 2010 before moving to GTIS in 2011. Prior to his first role at AIP, Sandstrom was an associate director at Five Mile Capital Partners in the US; an analyst at Stockholm-based real estate fund manager Niam, focused on northern European commercial real estate investments; and an analyst in the real estate private funds group at Credit Suisse. In all, Sandstrom has 11 years of industry experience, but none of it has been in Asia so far, according to his Morgan Stanley bio.
Previously, AIP executive Paul Vosper told PERE that the real estate group has been particularly “overweight” to the US and UK markets, with some activity in Brazil and China. Going into 2013, the firm sees particular opportunities in co-investments, but focused primarily on the US and the UK, he said.
Overall, Morgan Stanley Alternative Investment Partners has $29.2 billion assets under management. It has had a presence in Asia since 2007, according to the firm.