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Prudential Real Estate Investors Reorganizes Asia Pacific Leadership

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Prudential Real Estate Investors has reorganized its Asia Pacific leadership structure to position the company for growth in the region and strengthen its capabilities in Japan, the company announced today. Benett Theseira, head of Southeast Asia, will become the head of PREI’s Asia Pacific business, while Morgan Laughlin, head of Asia Pacific, will become the head of Japan. PREI is the real estate investment and advisory business of Prudential Financial, Inc. (NYSE:PRU) .

Under the new structure, Theseira will retain his current role as senior portfolio manager of Pramerica Asia Retail and Laughlin will continue to represent Asia Pacific on PREI’s Global Product Development Committee. Additionally, Laughlin will assume Theseira’s current role as chairman of the Asia Pacific Investment Committee. These changes are effective April 1, 2015.

“For more than three years, Benett has led our Southeast Asia business, including our Singapore office, which is PREI’s largest presence in Asia Pacific,” said Eric Adler, PREI’s CEO. “He brings more than 20 years of real estate experience and has a long and successful track record investing in Asia Pacific real estate.”

Adler continued, “Japan is a large and important real estate investment market and we are well-positioned to capitalize on the opportunities Japan offers our investors, given Prudential’s presence in Japan and Morgan’s more than 10 years of experience in Japanese real estate investment-coupled with his desire to focus on that market. I look forward to working with Benett and Morgan to continue to grow our Asia Pacific platform.”

PREI’s Asia Pacific business has $6.8 billion in gross assets under management ($4.9 billion net) as of Sept. 30, 2014, and manages multiple fund products, including a Southeast Asia retail sector strategy, pan-Asia multi-sector strategy, core plus strategies in key Asia Pacific markets and real estate securities. With a presence in the region since 1994, PREI has 85 dedicated employees, including 46 investment professionals who have deep local experience, language skills and contacts. Investment activity is focused in the major markets of Japan, Australia, China, Singapore and Malaysia. PREI’s assets under management in Japan are approximately $1 billion.

Prudential began operating in Japan more than 25 years ago, initially through the life insurance market. Today, Prudential is the No. 1 foreign-owned insurer in Japan and ranked No. 2 in life new business face amount in Japan as of Sept. 30, 2014, according to The Life Insurance Association of Japan.

Before joining PREI in 2011, Theseira was the President of MEAG Pacific Star Asia and Pacific Star Capital for more than six years, responsible for the investment and fund management business in Asia. Previously, he spent nine years with the CapitaLand Group and held various roles for the Ascott Group Ltd, CapitaLand’s then publicly listed serviced apartment arm, and was responsible for driving Ascott’s rapid expansion and leading significant transactions across Asia Pacific and Europe. Theseira is a Colombo Plan Scholar and started his career with the Singapore Government in the Ministry of Law where he held the position of Assistant Commissioner of Lands.

Laughlin has been with PREI since March 2013. Previously, he was head of Grosvenor Fund Management in Asia Pacific. Earlier, Laughlin spent five years with Royal Bank of Scotland in several roles including head of Real Estate Finance, head of Japanese coverage and origination, and regional head of Real Estate Advisory. From 1999 to 2006, he led RREEF’s non-Japan Asia business following the acquisition of Bankers Trust Company by Deutsche Bank AG. At Bankers Trust Company, Laughlin held roles in Japan, Thailand, Singapore and Hong Kong in corporate finance, investment banking and international banking. He began his career in investment banking at PaineWebber in New York, and he has been based in Asia since 1989.

Prudential Real Estate Investors is the global real estate investment business of Prudential Financial, Inc. (NYSE:PRU) . Investing in real estate on behalf of institutional clients since 1970, PREI has more than 650 employees located in 19 cities around the world, and gross assets under management of $58.2 billion ($43.5 billion net) as of September 30, 2014. PREI offers to its global client base a broad range of real estate investment vehicles across the risk-return spectrum and geographies, including core, core plus, value-add, opportunistic, debt, securities, and specialized investment strategies. For more information, visit http://www.prei.com.

Prudential Financial, Inc. (NYSE:PRU) , a financial services leader with more than $1 trillion of assets under management as of September 30, 2014, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com.

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