Thursday, September 10, 2026

Brookfield Veteran Joins Shui On Land Board as Asia Investor Reshuffles Continue

Stuart Mercier, who built Brookfield's Asia real estate platform into a 350-person operation, takes an independent director seat at the Hong Kong-listed developer.

By the Family Office Real Estate Daily Desk·Thursday, September 10, 2026·2 min read
Editorial summary of reporting byMingtiandiOur editorial standards →
The answer · checked against Mingtiandi

Who is Stuart Mercier and why did he join the Shui On Land board?

Stuart Mercier, 44, a former Brookfield Asset Management managing partner who built the firm's Asia real estate business into a 350-person platform overseeing roughly $15 billion of investment activity, has joined the board of Hong Kong-listed Shui On Land as an independent non-executive director, effective 3 August. Mercier now runs Cairdrow Capital, a Singapore advisory firm he co-founded for family offices and institutions.

Key facts
  • Shui On Land appointed Stuart Mercier, 44, as an independent non-executive director and a member of its audit and risk committee, effective 3 August, according to a filing with the Hong Kong stock exchange.
  • Mercier spent 13 years at Brookfield Asset Management, building the firm's Asia real estate business from founding head into a 350-person platform overseeing roughly $15 billion of investment activity, according to the Hong Kong stock exchange filing.
  • Mercier retired last year as a managing partner at Brookfield Asset Management, according to the Hong Kong stock exchange filing.
  • Mercier now runs Cairdrow Capital, a Singapore advisory firm he co-founded for family offices and institutions, according to the Hong Kong stock exchange filing.
  • Brookfield's prior relationship with Shui On Land includes a 2013 investment in Shui On Land's Xintiandi unit, according to Mingtiandi.
  • The Australian government appointed Ann Sherry as chair of Housing Australia, the federal agency overseeing the country's A$47 billion housing agenda, according to a statement from the Treasury.
Brookfield Veteran Joins Shui On Land Board as Asia Investor Reshuffles Continue
Image: editorial illustration · Story sourced from Mingtiandi

Shui On Land appointed Stuart Mercier, 44, as an independent non-executive director and member of its audit and risk committee, effective 3 August, according to a filing with the Hong Kong stock exchange. Mercier retired last year as a managing partner at Brookfield Asset Management, where he spent 13 years building the firm's Asia real estate business from founding head into a 350-person platform.

During his tenure at Brookfield, Mercier oversaw roughly $15 billion of investment activity across the region, including Brookfield's 2013 investment in Shui On Land's Xintiandi unit. He now runs Cairdrow Capital, a Singapore advisory firm he co-founded for family offices and institutions.

The Australian government appointed Ann Sherry as chair of Housing Australia, the federal agency overseeing the country's A$47 billion housing agenda, according to a statement from the Treasury. The appointment came alongside an independent capability assessment of the agency, which made 13 recommendations that the government has endorsed.

Sherry already chairs Queensland Airports and the Super Members Council, and is chancellor of Queensland University of Technology. She was chief executive of Carnival Australia from 2007, after leading Westpac New Zealand.

Raffles Family Office named Ken Peng as its first chief investment officer, reporting to group chief executive Chi Man Kwan, according to a company announcement. Based in Hong Kong, Peng will shape investment strategy across the multi-family office's asset classes, including the opportunistic Asia Pacific real estate fund it launched with Tishman Speyer in 2023.

Peng joins Raffles after more than 20 years in private wealth across Greater China and the United States, most recently as head of Asia Pacific investment strategy and managing director at Citi Private Bank.

Hong Kong fund manager Templewater appointed Laurent Fischler as managing director and head of real estate, based in Singapore, according to a LinkedIn announcement. Fischler also serves as executive director of Stride Hong Kong, a student housing platform backed by Templewater's real estate business. He joins after six years as head of investments, Asia Pacific at Ivanhoe Cambridge, now folded into Canada's La Caisse de depot et placement du Quebec, where he led regional strategy across India, China, Japan and Australia.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

Family offices evaluating co-investment opportunities in Asia should track where former institutional platform heads land when they leave large asset managers. Mercier's move from Brookfield to an advisory role targeting family offices and institutions suggests a structural shift in how capital is being allocated in the region, with more emphasis on bespoke mandates and direct governance roles rather than pooled funds.

The A$47 billion scale of Housing Australia's remit indicates that government-backed housing programs are becoming a material allocation channel for patient capital. Family offices with Australian exposure should assess whether separate accounts or programmatic joint ventures with developers participating in that agenda offer better risk-adjusted access than direct project finance. Sherry's background in corporate leadership rather than housing policy may signal a focus on commercial execution over regulatory complexity.

Raffles Family Office's decision to hire a dedicated CIO for its real estate platform, including the Tishman Speyer fund launched in 2023, suggests that multi-family offices are moving beyond passive LP commitments. Principals should evaluate whether their own real estate allocations warrant a similar governance structure, particularly if they are running multiple vehicles or co-GP arrangements. The appointment also underscores the importance of sourcing talent from private wealth platforms rather than purely institutional backgrounds when the mandate includes family capital.

Questions this story answers

01Who is Stuart Mercier and what is his background in Asia real estate?

Stuart Mercier, 44, spent 13 years at Brookfield Asset Management, building the firm's Asia real estate business from founding head into a 350-person platform that oversaw roughly $15 billion of investment activity. He retired last year as a managing partner at Brookfield and now runs Cairdrow Capital, a Singapore advisory firm he co-founded for family offices and institutions.

02What role does Stuart Mercier have at Shui On Land?

Shui On Land appointed Stuart Mercier as an independent non-executive director and a member of its audit and risk committee, effective 3 August, according to a filing with the Hong Kong stock exchange.

03Did Brookfield have a prior relationship with Shui On Land before Mercier joined its board?

Yes. Brookfield made an investment in Shui On Land's Xintiandi unit in 2013, according to Mingtiandi. Mercier oversaw Brookfield's Asia real estate platform during his 13-year tenure at the firm.

04What other senior Asia real estate appointments were announced alongside the Mercier news?

Templewater appointed Laurent Fischler as managing director and head of real estate in Singapore. Aquilius Investment Partners hired Alexander Hoffmann as managing director, investments, in Singapore. HIG Capital hired Younghee Choi as head of Asia for its capital formation group, based in Hong Kong. Raffles Family Office named Ken Peng as its first chief investment officer, based in Hong Kong.

Original reporting
Mingtiandi
Read the original at Mingtiandi
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