Frasers launches fund management arm

Singapore: Frasers Property has announced the creation of a new business unit to raise and manage capital from institutions to invest in the company’s property projects.

Frasers recruited Wong Ping as Chief Investment Officer. Based at the Singapore headquarters, Wong joined the group in July and reports to Managing Director Chia Khong Shoong. She has over 25 years of experience in managing real estate investments. Her most recent role was as head of indirect investments in Asia at CBRE IM, which she left in June after more than four years.

“Forming Frasers Property Capital now to work with aligned partners, as part of our broader asset and capital management strategy, is a natural evolution of our journey,” he said. “We look forward to seeing Ping lead and deepen our relationships with long-term financial partners, working alongside our business units,” Chia said.

Wong added: “The group has earned its reputation by deliberately growing its business where we have accumulated local and industry knowledge with the support of our tenants and customers,” she said. “This approach is complementary to how we intend to evolve and sustainably align with our partners.”

Prior to forming this private fund management business, Frasers managed real estate investment trusts, with the company currently sponsoring three REITs, Frasers Centrepoint Trust, Frasers Hospitality Trust and Frasers Logistics and Commercial Trust.

Wong’s appointment comes as Frasers Property seeks to take SGX-listed Frasers Hospitality Trust private in an all-cash deal that values ​​the REIT at 1.35 billion Singapore dollars ($970 million).

Consisting of 14 hotels and serviced residences in Asia, Australia and Europe, FHT’s portfolio is valued at S$2 billion and includes Fraser Suites serviced apartment complexes in Australia, Singapore and the UK .

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