PGIM has promoted Ryuji Katayama to head of Japan, real estate as it seeks to expand the growth of its business in the region.

Katayama was most recently deputy head of Japan for real estate at PGIM and was instrumental in scaling PGIM’s Asia Pacific real estate investment platform, including the expansion of its flagship Asia Pacific value-add (AVP) strategies, the firm said.

He is to continue his role as portfolio manager for the AVP and Japan-focused investment strategies, PGIM added.

Katayama will be based in Tokyo and reporting to David Fassbender, PGIM’s head of Asia Pacific, real estate.

“Japan is one of our highest-conviction markets globally and a key pillar of our long-term growth strategy in Asia Pacific,” Fassbender said. “Ryuji is an accomplished investor and leader who has played an important role in strengthening PGIM’s investment platform in Japan and across the region.”

“His deep market expertise, investment acumen and breadth of long-standing relationships will be integral to helping investors navigate the next market cycle and advancing our business in the market.”

Katayama joined PGIM in 2012, where prior to becoming deputy head for real estate, he was head of transactions, Japan, for PGIM’s real estate investment group.

Prior to joining PGIM, he was with ORIX in Tokyo, where he focused on direct real estate equity investments and non-performing loan transactions.

PGIM’s real estate investment group runs $219 billion in gross real estate assets under management and administration globally.