Mr. Chiaranussati has successfully led RECAP in its investments and provided key leadership and direction since its inception.

Prior to founding RECAP at the end of 2004, Mr. Chiaranussati spent approximately six years with Westbrook, where he opened its Asia office in Singapore in early 1999 and served as Principal and Managing Director responsible for Asian investment activities. Prior to joining Westbrook, Mr. Chiaranussati spent seven years at JPMorgan, based in Singapore and covering Southeast Asia, serving as a Vice President in the Proprietary Investment and Investment Banking groups, focusing on real estate and financial institutions. Prior to JPMorgan, Mr. Chiaranussati worked at Temasek Holdings, an investment holding company for the Government of Singapore, and the Central Bank of Thailand. In 1998, Mr. Chiaranussati was appointed as an advisor by the Central Bank of Thailand and other bodies to assist in the restructuring of the public and private sectors of Thailand.

Mr. Chiaranussati received an Honors Degree in Economics from the London School of Economics in 1986 and a Master of Science in Management Science at the Imperial College in London in 1987.


Managing Director

Mr. Lien participates in acquisition, value enhancement and realization activities at RECAP with a special focus on Hospitality related investment opportunities throughout the region.

Prior to joining RECAP, Ian co-founded Octagon Capital Partners 2003 as an Asia Pacific focused hotel investment and advisory firm. Octagon offered end-to-end solutions for real-estate investment vehicles it originated in partnership with opportunity funds, private investors and/or Asian Corporate groups. Prior to founding Octagon, Ian was the Asia-head of Acquisitions & Development for Starwood Hotels & Resorts Worldwide, Inc where he was responsible for managing and coordinating all aspects of growth and development for Starwood in the region, including acquisitions, joint ventures and contract growth. Ian led Starwood’s (and earlier Westin’s) growth in Asia for eight years at their headquarters in Tokyo and Singapore. During his tenure, Starwood outpaced growth of its competitors in a creativity led effort. This Included: Launch of three new brands to the region (St Regis, Four Points and W Hotels); mezzanine financings; acquisition of a public company; Joint Venture new build projects; Strategic alliances, JV operating companies and multiple management and license agreements across Asia / Pacific. As a prelude to heading growth activities for Westin/Starwood, Ian was responsible for Development Planning activities for Westin from 1989-1992.

Ian has a Bachelor of Science degree in Hotel Administration from Cornell University in 1988.


Managing Director

Mr. Chua is responsible for acquisition, value enhancement and realization of real estate investments in northern Asia including China and Hong Kong. Mr. Chua originally worked with RECAP from June 2006 to November 2007, and rejoined in September 2008.

Between November 2007 and September 2008, Mr. Chua was CEO and minority shareholder of Stonegate China Properties Limited, a Morgan Stanley affiliate. Prior to initially joining RECAP, Mr. Chua was a Board Member, Managing Director and Head of Investment Management of Rodamco Asia, which was listed on Euronext for nine years. Prior to Rodamco Asia, from 1988 to 1995, Mr. Chua worked with the real estate investment arm of GIC, where he was involved in investment and asset management activities in San Francisco, London and Hong Kong. From 1993 to 1995, Mr. Chua was head of Hong Kong and China investments at GIC. Prior to joining GIC, Mr. Chua held a variety of financial analysis, reporting and accounting positions with the Exxon/Esso Group for over seven years.

Mr. Chua was formerly an independent non-executive director and member of the audit committee of Travelsky Technology Ltd, a company listed on the stock exchange in Hong Kong.

Mr. Chua graduated with an Honors Degree in Accountancy from the University of Singapore.


Managing Director

Andrew Heithersay is a Managing Director, Partner and Investment Committee Member of SC Capital Partners Group, with investment responsibilities across Asia-Pacific.

Prior to joining SC Capital Partners in 2013, Mr. Heithersay held senior leadership positions with LaSalle Investment Management throughout his 20-year service with the Group.  He was one of three founding members of LaSalles Asia-Pacific business and, most recently, International Director and Head of Acquisitions, Asia-Pacific (ex Japan).  Earlier roles included Director of JLL Hotels valuation and advisory division in Sydney and Jakarta, followed by Director of Sandalwood Hotel Investment Company (a joint venture between LaSalle & Host Marriott Corporation).

Andrew earned an MBA from Macquarie University Graduate School of Management, a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia and a Bachelor of Business in Property from the University of South Australia. He is also a Graduate of Australian Institute of Company Directors.

Andrew has lived in Asia since 1997 and resides in Singapore.