PGIM Real Estate names deputy head of APAC

PGIM Real Estate has promoted its head of Japan to the newly created role of deputy head of Asia Pacific, effective immediately.

David Fassbender continues his 23-year tenure with the appointment.

As deputy head of Asia Pacific, Fassbender will report to head of Asia Pacific Benett Theseira.

He will simultaneously retain his role as senior portfolio manager for the firm's flagship Asia Pacific value-add (AVP) fund series strategies, which have completed close to $33 billion (US$21 billion) in total transactions since its inception, including the recent acquisition of 20 Bridge Street in the Sydney CBD.

Fassbender joined the firm in 2002, bringing experience across real estate funds, asset management and transactions, including property development across key markets in Asia Pacific. He was previously the head of southeast Asia based in Singapore.

Theseira said Fassbender has demonstrated exceptional leadership over the years and has been instrumental for the firm's Asia Pacific investment strategies.

"David's strong business acumen, extensive industry network and solid investment management experience will be pivotal in helping investors navigate current market uncertainty and identifying the best opportunities in high-conviction areas as we continue to expand our regional business," Theseira said.

"His promotion reflects PGIM Real Estate's commitment to developing talents and nurturing future leaders."

Commenting, Fassbender said: "PGIM Real Estate is in a unique position to leverage our deep investment heritage in Asia Pacific, along with our breadth of global expertise to deliver long-term value to our investors globally."

"I look forward to continue working closely with the team to drive future growth."

PGIM Real Estate houses a combined $325 billion (US$206 billion) in assets under management and administration across 35 cities worldwide as at 31 December 2024 and is the real estate arm of PGIM.