PGIM Real Estate appoints David Fassbender as deputy head of Asia PacificPGIMRealEstateappointsDavidFassbenderasdeputyheadofAsiaPacific

SINGAPORE, 15 April 2025 – PGIM Real Estate has appointed David Fassbender as deputy head of Asia Pacific, effective immediately. His appointment is part of the firm’s ongoing strategy in strengthening its leadership bench and positioning the Asia Pacific platform for future growth. PGIM Real Estate is the real estate investment and financing business of PGIM, the US$1.38 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).

Fassbender, currently head of Japan, has been with PGIM Real Estate for over two decades. In this newly created role he will oversee portfolio management strategies across Asia Pacific, help drive the firm’s growth in the region and continue to lead its largest Asia Pacific business in Japan. Fassbender was instrumental in establishing PGIM Real Estate’s flagship Asia Pacific value-add (AVP) fund series, and he will retain his current role as senior portfolio manager for the AVP strategies, which have completed close to US$21 billion1 in total transactions since its inception.

Fassbender reports to Benett Theseira, head of Asia Pacific at PGIM Real Estate.

Theseira commented: “David has demonstrated exceptional leadership over the years, with a track record in delivering excellent outcomes for our Asia Pacific investment strategies. His promotion reflects PGIM Real Estate’s commitment to developing talents and nurturing future leaders. 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.”

Fassbender joined PGIM Real Estate in 2002, with diverse experience spanning the management of open- and closed-ended real estate funds, asset management and transactions, including property development, across all key markets in Asia Pacific. He was previously head of South East Asia based in Singapore.

Fassbender added: “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.”

With over 30 years of local presence in Asia Pacific, PGIM Real Estate has a proven track record in delivering a full spectrum of solutions from core to value-add and real estate debt to meet the needs of global and Asia Pacific investors.  

ABOUT PGIM REAL ESTATE

PGIM Real Estate is the world’s third-largest real estate investment manager, with US$206 billion in gross assets under management and administration,² and real estate professionals located in 35 cities worldwide. Built on our belief that strong performance is fuelled by dynamic expertise, our global network of on-the-ground specialists is dedicated to opportunity creation, optimisation, and timely capital deployment amid shifting market conditions.

Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect. We strive to integrate sustainable best practices throughout our investment, asset management, risk and talent management processes for the benefit of our clients, employees, and the communities in which we operate. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU). For more information visit pgimrealestate.com.

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). In 41 offices across 19 countries, our more than 1,450 investment professionals serve both retail and institutional clients around the world.

As a leading global asset manager with US$1.38 trillion in assets under management,³ PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialised expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

¹ As of 31 March 2025. Inclusive of total asset values of all acquisitions and dispositions across the AVP fund series.

² As of 31 Dec. 2024. Net AUM is US$132 billion and AUA is US$47 billion. PGIM Real Estate is the third-largest real estate investment manager (out of 72 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “Largest Real Estate Investment Managers” list published October 2024.

³ As of 31 Dec. 2024.

For Professional Investors only. All investments involve risk, including the possible loss of capital.

 

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