Wenning Jung, formerly an Asia-focused investment officer with the California Public Employees’ Retirement System (CalPERS), is joining New York-based Franklin Templeton Real Estate Advisors as a vice president. Jung will work with the firm to find investments in the Asian markets.
“We have seen tremendous growth opportunities in the Asian real estate sector and expect that Wenning’s experience and background will allow us to continue to uncover compelling real estate investment opportunities in this important region,” Jack Foster, managing director and head of Franklin Templeton’s real estate group, said in a statement.
At CalPERS, Jung implemented the public pension’s real estate investment strategy in Asia and looked after a portfolio of seven international property funds. The pension currently has around $18.3 billion (€13.7 billion) invested in real estate.
Jung has a BS in business administration from California State University at Sacramento.
According to a press release, Franklin Templeton also recentely promoted Foster, Raymond Jacobs, Glenn Uren, and Marc Weidner to managing directors. The four directors also form the firm’s management committee, which sets policy and investment strategy for the group.
Franklin Templeton Real Estate Advisors, the property arm of investment group Franklin Templeton, has more than $2.5 billion committed to private real estate around the world. The firm has a number of public and private property vehicles, with global, US-focused and non-US strategies.
Franklin Templeton is currently in the market with two fund of funds. One will be focused on European funds and has a target of €300 million, while the second will look at international funds and has a target of $300 million.