Victor Lor, a director for APG Asset Management’s strategic real estate Asia team for four years now, is to leave the Dutch pension manager, PERE can reveal.
Lor’s departure date is not yet set, but the native Australian is thought to have already begun the process of handing over his responsibilities, which include the management of existing investments as well as the origination and execution of new real estate investments in Asia.
Lor marks the second departure from Algemene Pensioen Groep (APG)’s Asia real estate team in half a year, following the departure of regional head Daan Van Aert in October, after which Sachin Doshi was promoted to head of non-listed real estate for the €430 billion Dutch pension fund’s Asian investment platform. It is understood that the two departures were not related.
APG declined to comment on personnel moves.
A 15-year veteran of the real estate industry, Lor was managing director of a private equity real estate manager in joint venture with Shui On Construction and Materials before joining APG in 2010. Before that, Lor also served as a director at UBS Investment Bank, Asia within its real estate team for three years, executing over $3.3 billion in transactions across Asia. Key deals Lor led included CapitaLand’s China Retail Trust IPO, the Singapore Government’s $1.3 billion JTC portfolio divestment and Philippines-based VistaLand’s $460 million re-IPO.
Lor also spent 11 years in real estate funds management at Colonial First State in Australia, managing over $1.4 billion of direct and indirect real estate investments for Australian superannuation funds.