Principal Asset Management has appointed Drew Fung as managing director, portfolio management. Based in New York, Fung will focus on commercial real estate debt investing, with an emphasis on high-yield and structured debt strategies. Fung will report to Chris Duey, senior managing director at Principal Asset Management, partnering closely with the other members of the portfolio management team.
Fung joins Principal Asset Management with more than 35 years of experience in commercial real estate debt investing, lending and portfolio management. Most recently, he served as managing director and partner at Clarion Partners, where he led the firm’s debt investment group.
Throughout his career, Fung has specialized in mezzanine lending, preferred equity and high-yield commercial real estate debt investments. He has originated more than $3.5 billion in mezzanine and structured debt investments and has worked with a range of institutional investors, including insurance com
