Pacific Star Group has appointed Wilfred Wong as executive chairman of its China operations.
Wong, 56, is also a delegate of the National People’s Congress of China and deputy vice chairman of golf course developer Mission Hills Group. He was previously executive vice chairman of property development company Shui On Land Group.
Based in Hong Kong, Wong will be responsible for formulating and overseeing Pacific Star’s business strategies in greater China, Hong Kong and Macau.
Wong’s in-depth knowledge and expertise in the greater China real estate market will strengthen the firm’s foothold in the region, Alfred Lim, chief corporate officer of Pacific Star, said in a statement. In Asia, the firm has offices in Hong Kong, Shanghai and Beijing.
In October 2008, Pacific Star appointed Knut Riesmeier as president of its Qatar operations. Riesmeier had joined from insurer Munich Re’s global asset management division.
The firm is currently raising the Enterprise Fund, which aims to raise $500 million by 2010, with a first closing before the end of June 2009. The opportunistic fund will target investments in Asian real estate companies.
Pacific Star is also raising the Asia Fund Select Fund, a pan-Asia master fund with four regional sub funds, focused on India, China, Northeast and Southeast Asia. The fund is targeting $1 billion in equity with $2 billion in assets under management by 2010. It is anticipating a first close by the first quarter of this year.
Headquartered in Singapore, the group has offices across cities including Kuala Lumpur, Bangkok, Seoul, Tokyo, Sydney, Munich and New York.