Key Takeaways
- • AP Pension real estate CEO exit: Peter Olsson has stepped down as CEO of AP Ejendomme (valued at $249 billion) after 10 years, with CFO Helle Grosser assuming acting CEO duties while a permanent replacement is recruited.
- • ESR appoints Lendlease veteran to lead fund management: Justin Gabbani, who spent 23 years at Lendlease serving as CEO of investment management and previously CEO Asia, joins ESR as group head of fund management effective August 2026 to oversee fund performance, product strategy, and capital raising across Asia-Pacific.
- • Strategic leadership strengthening at multiple firms: The appointments signal efforts by ESR and other asset management platforms to strengthen organizational capabilities and accelerate growth in Asia-Pacific real assets.
- • Westbridge Advisory bolsters HR infrastructure: Felix Waldeier, formerly head of people & culture at Norton Rose Fulbright Frankfurt, has joined as head of people & culture to support organizational scaling.
Summary
Peter Olsson's departure from AP Ejendomme, the real estate arm of Danish pension fund AP Pension, marks a significant leadership transition for one of the region's largest real asset vehicles. Olsson's 10-year tenure concluded by mutual agreement with the AP Ejendomme board, valued at $249 billion. CFO Helle Grosser has assumed acting CEO responsibilities while the board conducts a formal search for a permanent successor. Olsson will remain available during the transition period to ensure continuity of operations.
Justin Gabbani's move to ESR represents a high-profile recruitment of Asia-Pacific real estate talent. After 23 years at Lendlease, where he led the investment management division and previously served as CEO Asia, Gabbani will assume the newly created position of group head of fund management at ESR, effective August 2026. In this role, he will oversee fund performance metrics, product strategy development, and capital raising initiatives across Asia-Pacific markets. His appointment aligns with ESR's stated objective of strengthening investor engagement and accelerating scalable execution across its fund management platform.
At Westbridge Advisory, Felix Waldeier joined as head of people & culture, bringing HR leadership experience from Norton Rose Fulbright's Frankfurt office, where he oversaw German HR operations. Prior to his law firm role, Waldeier spent approximately ten years at AvS Advisors advising international organizations on executive recruitment and organizational development, and began his career at Boston Consulting Group. His appointment supports Westbridge's broader organizational development strategy.
These personnel moves reflect broader industry trends of leadership optimization and platform consolidation within Asia-Pacific real asset management, particularly as firms navigate post-privatization structuring and competitive positioning in capital deployment and fund management.
Justin Gabbani's move to ESR represents a high-profile recruitment of Asia-Pacific real estate talent. After 23 years at Lendlease, where he led the investment management division and previously served as CEO Asia, Gabbani will assume the newly created position of group head of fund management at ESR, effective August 2026. In this role, he will oversee fund performance metrics, product strategy development, and capital raising initiatives across Asia-Pacific markets. His appointment aligns with ESR's stated objective of strengthening investor engagement and accelerating scalable execution across its fund management platform.
At Westbridge Advisory, Felix Waldeier joined as head of people & culture, bringing HR leadership experience from Norton Rose Fulbright's Frankfurt office, where he oversaw German HR operations. Prior to his law firm role, Waldeier spent approximately ten years at AvS Advisors advising international organizations on executive recruitment and organizational development, and began his career at Boston Consulting Group. His appointment supports Westbridge's broader organizational development strategy.
These personnel moves reflect broader industry trends of leadership optimization and platform consolidation within Asia-Pacific real asset management, particularly as firms navigate post-privatization structuring and competitive positioning in capital deployment and fund management.
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