Pramerica Real Estate Investors (PREI), the real estate investment management arm of Prudential Financial, has appointed Eduard Wehry as managing director and head of business development for Asia Pacific.
Based in Hong Kong, Wehry started his role this week. He will be reporting to PREI’s global business development head Mark Chamieh, and will be working alongside the firm’s head of Asia Pacific, Bennett Theseira.
Wehry joined from CBRE Global Investors (CBRE GI) where he was managing director and head of investor services for the region, responsible for capital raising and investor servicing, and was a member of the Asia management team.
His move comes at a time when the Los Angeles-headquartered firm is in the process of restructuring its Asia business and merge CBRE GI with CBRE Global Investment Partners.
According to last week’s PERE report on the restructuring, Wehry’s move to PREI is not believed to be directly connected to the developments at CBRE GI.
On Wehry’s appointment at PREI, Chamieh said in a statement: “Eduard’s deep understanding of client needs in the region will strengthen our team as we look to expand our fund offerings and grow our client base.”
Previously, Wehry has also worked for ING Real Estate Investment Management, following corporate finance advisory roles in Amsterdam, London and Hong Kong, with Baring Brothers International, ING Barings and ING Corporate Finance.
PREI is currently in the process of raising capital for its Asia Property Fund (ASPF) III that was launched with a €400 million initial fundraising target to be invested across the risk spectrum in mature and emerging Asian markets. The firm is understood to be targeting a final close in the coming months.