AXA hires Ono to lead Japan fund efforts

AXA Real Estate Investment Managers appoints Hidetoshi Ono to head its planned Tokyo office fund with trust bank Japanese Sumitomo Trust & Banking.

AXA Real Estate Investment Managers, the real estate investment management arm of French insurance giant AXA, has appointed Hidetoshi Ono to lead its incoming Japanese core real estate fund.

Reporting to AXA REIM’s global head for Asia Frank Khoo, Ono is charged with leading the firm’s $500 million Tokyo office investment fund jointly managed with Osaka-based trust bank Japanese Sumitomo Trust & Banking. He has relocated to the firm’s Asia fund management headquarters in Singapore.

The firm’s fundraising activities for the Japanese investment fund had started last year but were put on hold after March’s earthquake and resulting Tsunami. The efforts are understood to have recently been re-started following a slight strategy adjustment with a first closing expected before the end of the year.

Ono was previously head of Japan at ING Real Estate Investment Management before handing in his notice in July last year for personal reasons. He was replaced with Tetsuya Fujita, who was previously ING REIM’s head of institutional clients.

ING REIM’s Asia business, of which the Japanese platform was a part, was yesterday sold to Richard Ellis as part of a wider $940 million acquisition by the world’s largest property services firm of ING REIM’s European, Asian and US real estate securities platform.