ARA appoints head of capital markets – Exclusive

The Singapore-based real estate investment manager has hired a former JPMorgan executive as its head of capital markets and origination.

ARA Asset Management has hired Stephen Tang, formerly of JPMorgan Asset Management, as its head of capital markets and origination, PERE has learned.

Tang, a managing director at the New York-bank’s asset management arm, will join ARA at the end of the month.

ARA delisted from the Singapore stock exchange on April 17 following a takeover led by its founder John Lim.

The consortium of investors consisted of: JL Investment Group, the private investment arm of ARA chief executive John Lim; Straits Trading Company; Hong Kong-listed Cheung Kong Property in partnership with private equity firm Warburg Pincus; and Chinese investment manager AVIC Trust.

The investors acquired the firm for S$1.78 ($1.28: €1.16),per share representing a significant premium and even exceeding the highest closing price of ARA shares over the past 2.5 years. The deal valued ARA at just under S$1.8 billion.

ARA manages both listed REITs and private real estate funds under management. Since the company’s formation in 2002 and listing in 2007, it has built a portfolio across Asia Pacific of around S$30 billion worth of assets, as at 30 September 2016.