Amanda To, head of private funds management at the Singapore-based developer-cum-fund manager Mapletree Investments, has left the firm, PERE can reveal.
To is understood to have stepped down from her position last month. A long-serving executive, To spent more than a decade working with the Temasek-owned real estate investment and development firm.
Mapletree has now appointed Christine Ong to assume leadership of the firm’s private funds management operations, according to PERE sources. It is unclear at this point whether Ong is a permanent or temporary replacement for To.
Ong has been working in the firm’s private funds management team since 2012. She is believed to have played a role in the setting up of the Mapletree China Opportunity Fund II, a China-focused private equity real estate fund that closed on $1.4 billion in August 2013, according to the company website. The fund, a follow-on investment vehicle to the $1.2 billion Mapletree India China Fund, was launched to invest capital in mixed-use or single-use office, retail, industrial and serviced apartment properties in Tier I and II Chinese cities.
According to Ong’s Linkedin profile, she previously served as the vice president, real estate investments, for Citi Private Bank for five years before joining Mapletree. She has also worked in the investments and business development team of Ascendas-MGM Funds Management.