Beng Tiong Ng, former deputy group chief executive and group chief operating officer at ARA Asset Management, has joined Singapore-based real estate online investment platform RealVantage, PERE has learned.
Ng has been named chairman of the board of directors, adviser, and member of the investment committee, he told PERE. Bringing with him 30 years of industry experience, Ng will be responsible for seeking out new investment opportunities in developed markets, expanding RealVantage’s offices in Asia-Pacific to Hong Kong and Australia, as well as growing the firm’s investor base.
Founded in 2019 by investment management and technology executives Keith Ong and Mao Ching Foo, RealVantage says it is the first digital platform providing private equity real estate investments to both retail and institutional investors. The platform has made 34 investments across Australia, Singapore, UK, USA and Hong Kong, including 10 fully realized exits averaging a 27 percent net IRR for equity deals and 8 percent for income deals, with zero defaults.
Ng joins a number of real estate veterans on the firm’s investment committee, including Ang Wee Gee, former chief executive officer of Singaporean landlord Keppel Land; Anthony Ang Meng Huat, former chief executive officer of Singapore-listed Sasseur REIT, Fortune REIT and ARA’s Asia Dragon Fund; and Richard Tan Liat Chew, former chief financial officer of Sasseur REIT and ARA Private Funds.
Ng told PERE the platform was a “simple yet powerful tool” for family offices and individual investors to build a bespoke global investment portfolio. “The institutional-grade properties, robust underwriting and hassle-free investment process are combined with transparent ownership and investment linkage to the underlying properties,” he said.
Ng spent 14 years with Singapore-headquartered ARA Asset Management prior to his departure in May, which was first reported by PERE. Prior to ARA’s merger with logistics specialist ESR Group, Ng oversaw the performance of the ARA Group’s business units globally and was responsible for the integration and co-ordination among the divisions in the group. Under his leadership, ARA’s private funds business raised and managed 10 private funds totaling $5.5 billion in committed capital and invested $9 billion across Asia Pacific.
“We are privileged to have BT Ng onboard with us,” said Ong, in a statement seen by PERE. “Given his rich experience and achievements in the real estate industry, I am certain he will be able to guide our company towards greater heights. BT Ng is not just chairman, adviser and investment committee member, he is also a shareholder of the company. This is testament to the level of confidence he has in our business model and our potential for future growth.”