German insurance giant Allianz has appointed a new head of real estate for Asia Pacific, while real estate fund manager ARA Asset Management (ARA) has promoted David Blight as chief investment officer of its private funds division.
Allianz Real Estate hires APAC head
German insurance giant Allianz has appointed Scott Kim as its new head of real estate for Asia Pacific. Kim was formerly the National Pension Service (NPS) of Korea’s global real estate head. Kim will take his new position from July 1.
Private Equity Real Estate (PERE) first reported the development. Allianz Real Estate confirmed the recruitment through a LinkedIn announcement.
Kim was said to have led NPS’ real estate investment division when the pension system established a $2.3 billion programme with Allianz in 2020, the AREAP Core I. This fund recently bought a 50% stake in Sydney’s Commonwealth Bank Place asset for $445 million.
Late last year, Allianz Real Estate set up a $2 billion platform, Allianz Real Estate Asia-Pacific Japan Multi-Family Fund I, with Ivanhoe Cambridge. The fund later in March this year invested $90 million to acquire a portfolio of 12 residential assets in Tokyo, Japan.
Allianz Real Estate’s assets under management in APAC were reported to be $9.2 billion.
ARA Asset Management names new CIO
Real estate fund manager ARA Asset Management (ARA) has promoted David Blight as chief investment officer of its private funds division, per a Private Equity Real Estate (PERE) report.
The promotion is part of a broader plan to consolidate the firm’s fund management business with that of the parent company ESR Cayman Limited. In January, Hong Kong-based ESR announced the completion of its $5.2 billion acquisition of ARA, including its subsidiary LOGOS.
Blight joined ARA in 2015 as chief executive officer of ARA Australia, responsible for ARA’s business activities in Australia and New Zealand.
Prior to joining ARA, Mr. Blight’s previous roles include Global Chairman and CEO of ING Real Estate Investment Management and Vice Chairman of ING Real Estate based in The Netherlands.
