Fassbender (pictured) has more than two decades’ experience in real estate, investing across multiple sectors in Japan for PGIM Real Estate’s Asia Pacific value-add fund series, according to a statement by the firm.
Fassbender will oversee PGIM Real Estate’s business strategy and operations in Japan, leading a team of over 30 professionals based in Tokyo. He will continue to manage the Asia Pacific value-add strategies, which have a total transaction volume of $3.8bn in the Japanese markets to date.
Fassbender joined PGIM Real Estate in 2002 and was previously head of South East Asia based in Singapore. His experience in real estate includes the management of open- and closed-ended real estate funds, asset management and transactions, including property development.
Fassbender replaces Morgan Laughlin, who is moving into an advisory role for the real estate business in Japan.
“The appointment reiterates our commitment to growing the Japan business, while continuingly strengthening our global data center franchise to address client needs,” said Benett Theseira, head of Asia Pacific for PGIM Real Estate.
Laughlin will focus on growing the PGIM Real Estate global data centre business and leading portfolio development and management for all its data centre investment strategies.
The firm has been expanding its data centre capability since completing its first investment in the sector over a decade ago. As investors increasingly incorporate digital infrastructure investment into their portfolios, PGIM Real Estate is committed to delivering attractive data center investment opportunities to institutional and high-net-worth investors globally.
Both Fassbender and Laughlin will remain on the PGIM Real Estate Asia Pacific executive council and investment committee.
PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.22trn global investment management business of Prudential Financial, Inc.
In September 2023, PGIM announced the formation of PGIM Private Alternatives, which brings together the firm’s private alternatives capabilities. PGIM manages $310bn in private alternative strategies across real estate, agriculture, private credit, and private equity. These strategies are managed by PGIM Real Estate, PGIM Private Capital, and Montana Capital Partners.
