JPMorgan Asset Management – Global Real Assets, the real estate investment arm of JPMorgan Chase, has named Kenneth Tsang managing director and head of research and strategy for Asia-Pacific.
Tsang joins the firm from Beijing and Hong Kong-based private equity real estate firm RED Capital Asia where he was a managing director.
Earlier in his career, Tsang was head of Asia-Pacific research and strategy at LaSalle Investment Management and held various research roles at Sanford Bernstein, ING Real Estate Investment Management (now CBRE Global Investors) and Jones Lang LaSalle.
“As investors around the world seek to increase and broaden their real assets allocations, they are finding the Asia Pacific real estate markets an attractive source of diversification, total return and yield. An experienced, on-the-ground team of professionals of Kenneth’s calibre is required to identify market trends and the most compelling risk-adjusted opportunities,” commented David Chen, head of real estate Asia-Pacific at JPMorgan Asset Management.
JPMorgan Asset Management has a team of more than 400 real assets professionals including nearly 50 real estate personnel operating from six offices throughout Asia-Pacific – Hong Kong, Mumbai, Shanghai, Singapore, Sydney and Tokyo.
Back in August the firm reportedly acquired an office tower in Melbourne for A$286 million ($215 million; €193 million) via its latest pan-Asia real estate fund.
The Asia-Pacific Property Fund is JPMorgan Asset Management’s core real estate vehicle in Asia for which the firm is currently raising capital. The $306.5 billion California Public Employees’ Retirement System (CalPERS), the largest pension system in the US, announced a $250 million commitment to the fund back in August.