Asia continues to lag other regions for integrating ESG principles with investing; better data and stronger regulatory requirements will help institutional investors, market observers say.
Going forward, he will be based in Seoul and will report directly to Mark Gabbay and Tom Pearson, co-heads of the firmÆs global real-estate group for Asia.
Lehman says it is active in all areas of real estate in Korea, including senior lending, mezzanine lending, non-performing loan acquisition and equity investment and utilises its own balance sheet to provide new loans and acquire non-performing loans.
ôOur current loan portfolio includes construction loans, retail and residential. We see strengths in all these sectors as well as the office sector,ö says Dubois-Phillips. ôWe plan to grow our portfolio of high-ratio non-recourse loans in both construction and term financing across all sectors on an opportunistic basis.ö
Lehman also plans a securitisation programme for the commercial loans it originates.
The Korean property business accesses both Lehman BrothersÆ private equity funds and its own proprietary balance sheet for equity investments.
öWe are not constrained by deal size and can consider a transaction that is as low as $5 million,ö says Dubois-Phillips. ôThe typical transaction size will range from $20 million to $100 million. We typically do not disclose the total size of our loan or equity positions, but going forward, we plan to significantly increase our exposure to the Korean real estate market.ö
Omicron may have put the bite into the property sector, but commercial property in Asia Pacific is defying the odds in a challenging sector, says a CBRE report.
Korea Teachers' Credit Union appoints new CIO; AIA Singapore hired ESG head from UOB; Ping An confirms appointment of Benjamin Deng as CIO; Australian Unity hires first head of responsible investment; AMP has new head of portfolio management for multi-assets, Robeco hires Asia fixed income head; Haitong makes three new appointments for institutional clients business; and more.
After two tenures, AsianInvestor's 2021 Standout CIO Jang Dong-hun looks back on the past six years at Korea's Poba with satisfaction.
Risks including property downturn and ongoing pandemic make for difficult investment decisions.