US firm Franklin Templeton Investments has appointed William Yun as executive vice president of alternative strategies.
In the new role, Yun will be charged with overseeing real estate as well as local asset management, joint ventures, fund of funds and dedicated private equity. The global property offerings of Franklin Templeton Real Estate Advisors will fall under the alternative strategies umbrella, the company said.
Greg Johnson, chief executive officer of Franklin said in a statement the firm was establishing the dedicated alternatives role to take advantage of growth in alternatives around the world.
The firm is currently fundraising regional real estate fund of funds, each targeting around $300 million (€194 million) of equity. It is also raising a global fund of funds.
Yun joined Franklin in 1992. In 2000 he was named president of Fiduciary Trust, and served in this role until 2005.
He said: “The number of investors looking for added alpha as well as increased diversification for their portfolios through a broad range of asset classes, including alternatives, has grown exponentially.”
In a second appointment, Vijay Advani has been named executive vice president of global distribution, with oversight of both retail and institutional distribution.