CITIC Capital hires Robert Lie for real estate group
CITIC Capital has appointed Robert Lie as managing director of its Hong Kong-based real estate group. He joins from Redevco Asia and will bring colleagues Jan Willem De Hek, Dennis Fung and Chenxia Yu with him.
Lie was managing director at Redevco Asia for four years, having previously served as Asia CEO of ING Real Estate. CITIC Capital has three real estate funds and recently launched a dedicated retail fund. The recruitment of Lie and his team is part of efforts to boost operational capacity in the asset class.
"Strong growth in consumer spending and the rapid urbanization in China provides many opportunities for retail investment. We believe that CITIC Capital is the right platform for us to continue our work given its strong track record, its extensive network in China and its commitment to quality and high corporate governance standards," Lie said in a statement.
Founded in 2002, CITIC Capital has more than $4.6 billion in assets under management across private equity, real estate, structured finance, asset management and venture capital. It is owned by China Investment Corporation (CIC) and CITIC Group via subsidiaries of CITIC International Financial Holdings and CITIC Pacific. The firm has invested in 19 real estate projects in China, of which 12 have been exited.
The CITIC Capital China Retail Properties Investment Fund launched in April 2011 and reached a first close of $225 million in November. The final target is $600 million.
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