CapitaLand appoints Citigroup’s top Asia property banker to source China deals

CAPITALAND Investment appointed Citigroup’s top Asia real estate investment banker Kara Wang as chief investment officer for China starting next month, signalling the Singapore firm’s appetite for dealmaking.

The property firm, backed by state investor Temasek Holdings, also hired Hideto Yamada from Japan’s Government Pension Investment Fund, as a managing director in the country, starting this month, according to a statement.

In her new role, Wang will lead direct investments for the group’s China onshore and offshore fund products as well as drive acquisitions in the country, the statement said. Wang joins CapitaLand from Citigroup where she was co-head of Asia real estate and lodging investment banking since 2020. Before that, she spent nine years at HSBC Holdings.  

During her stint at the US bank, Citigroup advised on the initial public offering of property management service firm Onewo. The bank also worked on ESR Group’s acquisition of Warburg Pincus-backed ARA Asset Management and Chinese courier SF Holding’s purchase of a controlling stake in Kerry Logistics Network, according to public filings and data compiled by Bloomberg.

Yamada was the head of global real estate and co-head of private investment markets at the Japan pension fund. In his new role, he’s expected to grow CapitaLand Investment’s funds under management and to identify M&A opportunities in Japan. BLOOMBERG