PGIM’s real estate arm has hired a former CBRE Global Investors executive as its head of China.
PGIM Real Estate named Matthew Yao as head of China, according to a statement.
Yao is tasked with overseeing the business and the Shanghai-based investment team that supports the firm's pan-Asian investment funds in the country. He will also have a focus on the firm’s investment opportunities through joint venture partnerships, strengthened domestic capital relationships and developing future investment vehicles in China
Yao joins from CBRE Global Investors where he headed its China business with experience in launching, investing and managing real estate funds in China on behalf of both local and foreign investors.
«China has always been an important market within our regional strategy, and we expect to expand our investment activity as well as grow our capital relationships there,» said PGIM Real Estate’s APAC head Benett Theseira. «We see strong potential in the Chinese economy’s growth, as it contributes increasingly to a major portion of the global economy and investment-grade real estate pie.»
