PGIM Real Estate has strengthened its Asia Pacific investment team with the appointment of Eileen Yong as Executive Director and Deputy Portfolio Manager for its Asia core strategy, based in Singapore. PGIM Real Estate is the real estate investment and financing business of PGIM, the US$1.2 trillion* global investment management business of Prudential Financial, Inc. (NYSE: PRU).
Yong will be responsible for managing PGIM Real Estate’s Asia core strategy, which aims to deliver defensive total returns with a steady income by investing primarily in core, income-producing assets in the more liquid and mature markets across Asia Pacific. She will report to Vincent Chew, Executive Director and Portfolio Manager of the Asia core strategy. Yong steps in for Olivia Chow, Portfolio Manager, who will be moving internally to take on expanded portfolio management responsibilities in the region.
“In the rising interest rates and inflationary environment globally, we continue to see strong demand from global investors for Asia Pacific real estate solutions as they seek better risk-adjusted return and diversification, and to tap into the relatively stronger economic growth in the region. This is evident by the successful capital raising efforts for our Asia core strategy last year and the continued interest we experience from prospective investors. We are delighted to welcome Eileen to our Asia core team as we continue to strengthen our capabilities to meet investor needs and to build on the strong track record of our core strategy in the Asia Pacific,” said Benett Theseira, Managing Director and Head of Asia Pacific at PGIM Real Estate.
Yong brings more than 20 years of experience in real estate equity and debt investments in Asia Pacific. Most recently, she was Senior Fund Manager at LaSalle Investment Management leading the strategy, construction and investment decisions for two Asian mandates. Prior to that, she was a Vice President at Aviva Investors’ Real Estate Multi-Manager team for eight years. Yong’s appointment, along with several promotions of female leaders last year, underscores PGIM Real Estate’s commitment to building an inclusive and equitable company culture, where all talented individuals can thrive.
“As one of the most long-standing investment platforms in Asia Pacific, we are proud to embrace diversity and inclusion at PGIM Real Estate. It’s our team’s diverse experience, backgrounds and perspectives that drive our strong investment outcome and make us better investors and lenders, particularly in a complex region like the Asia Pacific,” Theseira added.
Fiona Cho was named Asia Pacific Chief Operating Officer for PGIM Real Estate, in addition to retaining oversight of several client mandates as a Senior Portfolio Manager. Cho has been with the firm for over 14 years, with more than two decades’ track record across real estate investment management, investment banking and equity research.
Cho was the first regional diversity lead for Asia at the PGIM Real Estate Women’s Leadership Network launched in 2013. In her expanded role, she is also part of PGIM Real Estate’s Asia Pacific Executive Council and Investment Committee.
Julie Yeo has been promoted to Head of Southeast Asia Transactions at PGIM Real Estate, where she oversees all acquisitions and dispositions in Southeast Asia, Hong Kong and South Korea. She joined PGIM Real Estate’s Transactions team as an Investment Vice President in 2021, bringing more than a decade of experience executing transactions across the region.
Ge Xu has relocated from London to join PGIM Real Estate’s Asia Pacific team where she helps manage the Asia value add investment franchise. Xu joined PGIM Real Estate in 2016 and was previously the European chief underwriter.
The roles are all based in Singapore.
* As of 30 September 2022.
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