AXA hires Asia head

Frank Khoo has joined French insurer Axa as the firm bids to become a major player in Asian real estate. Khoo, formerly with Pacific Star Fund Management, will be based in Axa's new Singaporean office.

AXA Real Estate Investment Managers, the Paris-based manager, has hired former Pacific Star dealmaker Frank Khoo as head of Asia.

Axa, which has $63 billion (€43 billion) of assets under management, revealed the appointment alongside news that it was opening an office in Singapore to serve as the firm’s Asia headquarters.
Since entering Asia 18 months ago, Axa has committed to the region almost 25 percent of $2 billion raised from investors, it said.

Pierre Vaquier, chief executive, said in a statement that Asia was becoming a strategic destination for the real estate investors. “We want to support our AXA Group and third party client efforts in diversification and creation of value,” he added.
Khoo has been appointed as global head of Asia and will be based in the new Singaporean office.

The firm said Khoo would coordinate activities across Asia and would set up a network of offices in target areas.

Prior to joining AXA, Khoo was senior vice president with Singapore-based real estate investor Pacific Star Fund Management. He will begin his new role in the middle of the month.