Pacific Star appoints research and strategy head

Singapore-based Pacific Star has appointed former Jones Lang LaSalle executive Leslie Chua as senior vice president, research and strategic planning for Asia Pacific.

Singapore private equity real estate firm Pacific Star has hired Leslie Chua as group head of research and strategic planning for the Asia Pacific region.

The firm said in an announcement on the hire today that he would be charged with “enhancing the research capabilities of Pacific Star” as well as “expanding the group’s advisory services to its global clients”.

Pacific Star said Chua had experience advising institutional clients on their real estate investment needs. He previously worked for global property services firm Jones Lang LaSalle as head of real estate intelligence service and market research, from its Singapore office.

He also worked for a joint venture between Dubai’s Istithmar and Standard Chartered Bank called Standard Chartered Bank–Istithmar Real Estate Fund Management where he was responsible for “developing investment strategies, economic, capital market and real estate market analyses”.

The hire comes at a time of change for Pacific Star. Earlier this week, news emerged that Pacific Star Europe, a European business 51 percent owned by the firm, was to be dissolved. The business, the other 49 percent of which, was owned by German investors Matthias Sturmer and Dirk Grosse-Wordemann, ceased operations at the end of September.

Last Friday, PERE revealed that the firm, founded in 2001 by Jeff Tay, was to combine two of its funds currently in market. The amalgamated vehicle plans to attract $1 billion from investors by offering them a duel-pronged investment strategy whereby commitments can be made to either a pan-Asia investment fund or one of three sub-regional funds.