Two senior executive in the Asia real estate investment business of RREEF, the alternative investment and asset management business of Deutsche Bank, are to leave the company.
Hong Kong-based chief investment officer Mark Fogle and head of acquisitions Brian Chinappi have both tendered their resignations and are working out their notices, PERE has learned.
Fogle is believed to have garnered support from some Hong Kong wealthy families ahead of launching his own platform while Chinappi is to join Standard Chartered bank to boost the Asian bank’s real estate investment capabilities.
Fogle was responsible for overseeing the investment process across Asia Pacific, in addition to sourcing investments and indentifying product development opportunities in the region. He joined RREEF in 2006 from AIG Global Investment Corporation, the investment arm of AIG. He has a background in distressed debt and underperforming asset acquisitions.
Chinappi joined RREEF in 1999. He was previously a member of Bankers Trust’s Real Estate Investment Banking Group, a predecessor group to RREEF.
Neither Fogle, nor Chinappi were available for comment and RREEF declined to comment at the time of going to press, but a source familiar with the matter suggested the departures are not linked.
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