Franklin Real Asset Advisors to close SG office, slash staff: Report

Franklin Templeton logo is displayed on a company arranged shootout. Photo: Franklin Templeton

Franklin Real Asset Advisors (FRAA), the real estate investment arm of US-based asset manager Franklin Templeton, is closing its Singapore office due to low deal flow in the Asia Pacific, per a report by PERE.

“While FRAA continues to maintain an important presence in Asia, dealflow has been low in the region and the team currently sees the most attractive investment opportunities in Europe and North America,” the report quoted a company spokesperson as saying.

DealStreetAsia’s email to Franklin Templeton on the move remained unanswered at the time of publishing.

The closure of the Singapore office will lead to the departure of three FRAA executives, the report said. Woon Pin Chong, head of FRAA’s Asia Pacific operations, will leave on 31 January 2020, while senior vice president Wenning Jung and associate Karen Gu will leave next month.

FRAA will retain its Melbourne office in the Asia Pacific, along with other global locations in New York, London, Luxembourg and San Mateo.

Greg Wilkinson, the firm’s Melbourne-based institutional portfolio manager will be the contact for clients in the Asia Pacific, the PERE report said.

FRAA has been actively ramping up its social impact infrastructure investments in Europe. Franklin Templeton Social Infrastructure Fund, a fund managed by FRAA, announced six acquisitions in Europe in July, following three investments in the continent earlier this year.

FRAA offers expertise in private real estate funds, listed infrastructure securities, and listed real estate securities.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.