Axa Real Estate Investment Managers (Axa REIM) has opened an office in Singapore and appointed Frank Khoo as its global head of Asia.
The global fund manager, which has €43bn (£35bn) of assets under management, has already been present in the Asian market for 18 months and said it has already invested nearly 25% of its $2bn (£1.1bn) commitment region.
It said its office in Singapore will help to further build AXA REIM’s presence in the region and ‘leverage the immense opportunities present in Asia’.
Pierre Vaquier, chief executive officer at AXA REIM, said: ‘Asia is becoming a strategic destination for the real-estate investor and we want to support our AXA Group and third party client efforts in diversification and creation of value.’
Khoo, who previously was senior vice president at Pacific Star Fund Management, will report directly to Pierre Vaquier, and will be part of the Axa REIM executive committee.
He will coordinate the development of Axa REIM’s investment and asset management activities in the region and will manage the development of investment platforms in Japan and India.
His remit is also to set up a local presence in other parts of the region which are important to the fund manager’s global strategy and contribute to the launch of Asian investment funds.
Vaquier said: ‘With over 15 years in the investment industry, Frank has extensive experience in private equity and real estate and a deep knowledge of all the Asian markets.
'His expertise in deal sourcing and execution as well as fund launches will contribute widely to Axa REIM’s ambitions to become a major player in the Pan-Asian real estate investment industry.’