New York-based AIG Investments has appointed Michael Chae from Nikko Citi as a director of alternative investments for Japan, based in Tokyo and reporting to Stewart Homler, managing director for alternative investments in Japan.
AIG Investments says Chae will play a senior role in the execution of' alternative investment activities in Japan, including direct and fund private equity investments, secondary market investments and private equity-related senior and mezzanine debt, and distressed securities.
'We are expanding our alternative investment capabilities in Japan as we develop a one-stop alternatives platform for AIG Investments' global client base,' Homler says. 'Michael's investment experience in alternatives and extensive local network will greatly strengthen this effort and help accelerate the expansion of our Japan investment office.'
Chae was a director in Nikko Citi's fixed-income group, having previously been a director with Deutsche Asset Management's Asia-Pacific private equity group focusing on both direct and fund of funds investments. He has been a manager in Shinsei Bank's private equity group in Tokyo and a principal in Credit Suisse First Boston's private equity group in Hong Kong, after beginning his career in investment banking and leverage finance with Chase Manhattan.
AIG Investments, the asset management arm of troubled insurance giant American International Group, and its member companies have capabilities in equity, fixed income, hedge funds, private equity, and real estate investment, managing more than USD758bn in assets and employing more than 2,100 professionals in 46 offices around the world at the end of June.