Drew Fung, who led Clarion Partners’ commercial real estate debt investment group for the last 14 years, will be taking on a similar role at Principal Asset Management.
Principal appointed Fung as managing director of portfolio management focusing on commercial real estate debt investing, with a big emphasis on high-yield and structured debt strategies, the company announced Monday. He will be based out of New York City and report to Chris Duey, senior managing director at Principal Asset Management.
“Commercial real estate debt is entering a particularly compelling period, as shifts in the lending landscape create new opportunities for…