EXCLUSIVE: Aberdeen launches direct division in Asia

The European asset manager has appointed ex-Washington State and Composition Capital executive Bill Shaw to head direct property mandates in a new division being set up for the region.

The London-listed asset manager, Aberdeen Asset Management has appointed Bill Shaw as head of segregated property mandates for its Asia Pacific operations, PERE can reveal.

Shaw, who was brought on board last week, is the first hire for the firm’s direct property team in Asia, led by its objective of building a team solely for direct property mandates alongside its existing multi-manager property division in the region.

Prior to his appointment, Shaw was based in Hong Kong, and was the managing director of Everview Capital Partners, a firm set up by the Washington State Investment Board with a view to make investments on behalf of the state’s pension plan in the region. In the past, he also led the real estate fund of funds manager Composition Capital’s efforts in the region as a principal and director for Asia.

The news of this appointment follows a restructuring of the firm last year, which saw it integrating its property multi-management business into a new alternatives division.

With the reconfiguration, real estate multi-management has been positioned as one of four specialist investment desks alongside desks for indirect investment strategies for hedge funds and private equity as well as a direct investment desk for infrastructure investments.

In Asia, the firm raised $512 million in fund commitments and co-investment capital for its third fund of funds for the region, Aberdeen Asia III Property Fund of Funds, which will be invested in all real estate strategies from core to opportunistic in Asia. In February last year, PERE also broke news that the firm is plotting the launch of a core strategy fund of funds for Asia.

Aberdeen manages more than $1.6 billion in property assets under management in Asia and $29 billion worldwide.