The board of global real estate firm Jones Lang LaSalle has nominated Kohlberg Kravis Roberts (KKR) partner Ming Lu, to its board of directors.
Lu will stand for election to the board at Jones Lang LaSalle’s annual shareholders’ meeting, to be held this May. Two current board members, Henri-Claude de Bettignies and Alain Monie, will not stand for re-election at the same meeting.
“With experience as a partner in two major private equity firms, he has perspectives on conducting business across Asia that will be very useful to us as we continue to grow market share in that dynamic region,” Colin Dyer, president and chief executive officer of Jones Lang LaSalle, said in a statement.
Based in Hong Kong, Lu joined KKR in 2007 and has led investments in Australian waste management business BIS Cleanaway and Singaporean electronics components maker MMI. Before that, Lu was a partner at CCMP Capital Asia, now known as Unitas Capital, where he was involved in auto, industrial and consumer product deals.
Prior to that, Lu has held senior positions as automotive component supplier Lucas Varity, food and beverage company Kraft Foods and Chinese investment firm CITIC.
LaSalle Investment Management, a division of Jones Lang LaSalle, recently won global firm of the year in the 2008 Global PERE Awards. In February, the firm disclosed that it has invested 20 percent of its $3.2 billion LaSalle Asia Opportunity Fund III mainly in Japan and China.
The opportunistic fund has up to $12 billion in dry powder when leveraged. It targets all sectors in Asia, with a focus on Japan, Korea, Hong Kong, Singapore and China.