UBS Asset Management (UBS AM) has hired Derek Lai as senior portfolio manager for its Global Real Estate business (GRE).
Prior to joining UBS AM, Lai was the senior vice president and co-chief officer, real estate, China, of Macquarie Capital in Hong Kong. He advised real estate developers, funds and operators on structuring and capital raising from global institutional investors.
Before that, he was the head of portfolio management at ARA Asset Management in Shanghai, managing the $500 million core-plus strategy of the China Investment Partners fund.
“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 manage 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,” said Graham Mackie, managing director, head of global real estate, in Asia Pacific.
In his new role, Lai 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. He will also be a member of UBS’s Asia Pacific Management Committee.
UBS Asset Management’s Global Real Estate business manages real estate investments of approximately €67.1 billion ($75.7 billion) globally and regionally within Asia Pacific, Europe and the US, across the major real estate sectors.