Louise Kavanagh, director and fund manager at Invesco Real Estate has resigned from the leadership role, PERE has learned.
Hong Kong-based Kavanagh, who is currently serving her notice period, is understood to be joining another global investment manager as a senior executive in its funds management business, according to a person familiar with the matter.
Phinex Wong, a fund manager at Invesco for its higher-yielding opportunistic strategy, will be replacing Kavanagh as the core fund manager.
Kavanagh joined Invesco Real Estate in 2013 and has been the fund manager for the Invesco Real Estate Asia Fund, the firm’s open-ended core/core-plus vehicle since its launch in early 2014.
In this Kavanagh helped steer the fund, together with the former head of Asia core mandates Graeme Torre, to become one of Asia’s biggest open-ended vehicles. According to a May-end filing with the Securities and Exchange Commission the fund reached a size of $891.3 million.
Torre stepped down from the leading the Asia core business in May last year and Invesco named Ian Schilling, previously managing director and head of Asia Pacific acquisitions and Australia real estate, as his replacement.
With more than 17 years of experience in the real estate and funds management industry, Kavanagh was a director at RREEF Real Estate Asia Pacific before joining Invesco. In her role as the head of acquisitions and asset management at RREEF, she was responsible for origination, due diligence and monitoring investments.