CBRE hires former AIG exec for Asia push

The real estate investment management firm has appointed Jack Hsu as investor services director in Hong Kong in a bid to boost CBRE’s capital raising abilities in China, Singapore and Taiwan.

CBRE Investors has appointed former AIG executive Jack Hsu as director of its investor services team in Asia in an effort to increase its capital raising operations in the region.

Hsu, who was formerly director of AIG’s mortgage lending and real estate business, will be based in Hong Kong from October, according to a statement. He will help develop investor relations and “distribution channels with diverse capital profiles” in China, Singapore and Taiwan.

Before AIG, Hsu worked for investment management firm Pimco, helping launch their Tokyo office. Mike McMenomy, CBRE Investors’ global head of investor services said the appointment was part of the firm’s continuing expansion of its capital raising team.

According to the firm’s website, the investor services team has a presence in Australia but not China and mainland Asia. CBRE Investors is the fund manager of the Strategic Partners real estate funds. In May, it closed its latest vehicle, CBRE Strategic Partners US 5, on equity commitments of $2.1 billion (€1.4 billion). The vehicle comprises two limited partnerships Strategic Partners US Value 5 and Strategic Partners US Opportunity 5.

Just last month, CBRE Investors opened an office in Amsterdam, near Schiphol Airport, as part of its European expansion.