Och-Ziff adds four to Asia real estate team
Och-Ziff, the US hedge fund manager that has suffered a drop of over 25% on its investments in Asia this year, has hired a team of real estate portfolio managers to its property team in the region.
Och-Ziff Asia Real Estate has appointed four senior investment professionals from Morgan Stanley Real Estate to help build its property businesses across Asia.
Zain Fancy, Roy Kwok, Bharat Khanna and Anand Madduri all join as executive managing directors. Fancy will be based in Singapore, Kwok in China, Khanna in India and Madduri in Hong Kong.
The four all covered similar regions at Morgan Stanley.
Och-Ziff Asia Real Estate will make investments in a variety of real estate and real estate-related instruments including private and public equity securities, according to a statement from the firm.
Dan Och, chairman and chief executive of Och-Ziff said: “This team is well known and respected in the region. We believe their hands-on expertise and unique understanding of the Asian real estate markets will allow Och-Ziff to identify new opportunities that create real value for our investors."
The new hires come after Och-Ziff's reported in its its third quarter results earlier this month, that its Asia portfolio was down 11.8% in October and 26.7% this year.
The firm, which is the world’s fifth-largest hedge fund manager, still had $30.5bn (€23.4bn) of assets under management as of October 1.
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