Robert Lie, until recently the Asia chief executive officer at Dutch based ING Real Estate Investment Management, has been appointed managing director of Redevco Asia.
Redevco, a spin-out in Europe from C&A retail group, is owned by Cofra Holding, a Swiss-based holding company that only recently expanded real estate ambitions to Asia.
While at ING, Lie held various positions most recently heading up the company’s efforts in Asia since 2004, but he left the company recently.
Last week ING announced that its multi fund management business, ING Real Estate Select, has hired Dick Popken, currently senior portfolio manager for real estate in Asia Pacific at PGGM Investments, as its new head of fund management in Asia.
The new PGGM hire has experience spanning private real estate investments, listed securities, structured products and CMBS from China to New Zealand and from Japan to India, according to Nicholas Cooper, chief executive of ING Real Estate Select.
Netherland’s-based Redevco marked its entry into the region earlier this year with a $30 million (€19 million) investment in the Arch Capital Asian Partners fund. The firm says its main focus in this market will be on India and China.
“Especially India and China offer unparalleled opportunities because of their growing markets and high economic growth,” said Jaap Blokhuis, chief executive officer. “We want to build a sustainable portfolio in Asia as a long term player and we will therefore open our first office in Hong Kong, China.” From there the firm will build up a real estate portfolio comprising retail investments and developments, primarily new shopping center developments in major cities.
Lie isn't the first former ING pro to be tapped to spearhead Asia operations. On Monday Washington-based Darby Overseas Investments announced it has hired former ING executive David Hudson to help expand the firm’s presence in Asia – and its global infrastructure activities.