Hong Kong, 18 April 2016 – UBS Asset Management’s ("UBS-AM") Global Real Estate business (“GRE”) – which currently has USD 73 billion assets under management (as at 31 December 2015) across Europe, the Americas and Asia Pacific – has appointed Derek Lai as Senior Portfolio Manager. In his new role, Derek will be responsible for defining and implementing strategic initiatives with a specific focus on Greater China, as well as helping to manage and develop GRE's business. Derek will also be a member of GRE's Asia Pacific Management Committee.
Derek will be based in Hong Kong leading GRE's Greater China team. He will, in collaboration with GRE's Head of APAC, Graham Mackie, as well as the wider APAC team, seek to grow the business in China through successful portfolio management and the cultivation and development of new and existing relationships, both locally and globally through UBS’s extensive network.
Derek joins UBS-AM from Macquarie Capital’s Hong Kong office where he was Senior Vice President and Co-Chief Officer, Real Estate, China, advising real estate developers, funds and operators on structuring and capital raising from global institutional investors. Prior to joining Macquarie in June 2014, he was Head of Portfolio Management (Real Estate) at ARA Asset Management in Shanghai, with responsibility for the USD 500 million China Investment Partners fund. Derek has also had real estate focused roles at Blackstone, Merrill Lynch, the Carlyle Group and Deutsche Bank in Hong Kong across a career spanning more than 15 years.
Graham Mackie, Managing Director, Head of Real Estate Asia Pacific, UBS Asset Management (GRE – APAC), commented: “We are actively building up our platform in China and Derek’s appointment is an important next step in ensuring that we are in the best possible position to drive our growth in China and the wider region. He has a wealth of concentrated experience in the Chinese real estate investment market, as well as an in-depth knowledge of the institutional landscape, and we are looking forward to working with him to achieve our ambitions.”
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Asset Management
UBS Asset Management is a large-scale asset manager, with around 2,300 employees located in 22 countries. We offer investment capabilities and investment styles across all major traditional and alternative asset classes. We take a connected approach to find the answers to our clients' investment challenges. Our global capabilities include equity, fixed income, currency, hedge funds, real estate, infrastructure and private equity investment capabilities that can also be combined into customized solutions and multi asset strategies. Complementing our investment offering, our Fund Services unit provides professional white labelling services including fund set-up, accounting and reporting for traditional and alternative funds.
Invested assets totalled USD 649 billion as of 31 December 2015. We are a leading fund house in Europe, the third largest international asset manager in Asia, the largest mutual fund manager in Switzerland and one of the largest fund of hedge funds and real estate investment managers in the world.
UBS Asset Management's Global Real Estate business actively manages real estate investments of approximately USD 73 billion1 globally and regionally within Asia Pacific, Europe and the US, across the major real estate sectors, making it one of the largest real estate managers worldwide. Its capabilities are focused on core and value-added strategies, but also include other strategies across the risk / return spectrum. These are offered on a global, regional and country basis and through open- and closed-end private funds, REIT's, customized investment structures, multi-manager funds, individually managed accounts and real estate securities.
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