AIG Global Investment Group announced today the appointment of Stewart Homler as managing director of alternative assets in Japan.
Homler will be based in AIG’s Tokyo office, where he will oversee alternative investment strategies for Japan.
Homler has worked in Japan and South East Asia for about ten years. He was most recently head of Deutsche Asset Management’s Asia Pacific private equity group. Prior to his time at Deutsche, he was chief representative of PPM Asia Private Equity Group, a subsidiary of Prudential UK, in Tokyo. Earlier in his career he established MetLife’s Asian investment office in Hong Kong, and was a director in the Asian Private Equity Division of Credit Suisse First Boston in Hong Kong.
“AIG has a long history in Japan and we believe that this is the right time to expand our activity in alternative investments,” said Robert Thompson, senior managing director and head of global alternative investments.
AIG closed its Asia Opportunity Fund II on $410 million (€305 million) in March, missing its $500 million target by $90 million. AIG’s private equity unit in Asia also has access to an additional $410 million from AIG Global Emerging Markets Fund II, a 2005 vintage, and the groups’ balance sheet.
AIG has committed 15 percent of this capital to three deals in the region. In China, AOF II invested in Tiangong International Company, a privately owned, local high-speed specialty steel and steel-cutting tools maker. In India, the fund invested in Firepro Systems, a building systems company. In Korea, AOF II invested $21 million in Alticast, a company that supplies a product that enables cable companies to provide interactive services to its clients