Ares raises $4 billion for a Japan logistics fund, its largest ever fundraise
Article excerpt
Highlighted: the sentence this signal was extracted from
((Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto)) by Yantoultra Ngui Ares Management ARES.N, a U.S.-based investment firm, announced on Tuesday that its real estate arm had raised 612 billion yen (or $4 billion) for its fifth Japan logistics development fund, marking the entity's largest ever closed-end institutional fundraise. The fund, named "Japan Logistics Development Partners V LP", closed at its hard cap and is nearly 50% larger than its 2021 predecessor, Ares said in a statement released on Tuesday. The fund will primarily invest in the development of modern logistics facilities in Japan's major metropolitan markets, including Greater Tokyo, Greater Osaka, and Nagoya, Ares said. Real estate services firm CBRE predicted in a report that rents for large multi-tenant logistics facilities would increase in Japan's four major metropolitan areas by the end of 2027, as demand for modern logistics space grows nationwide. According to Ares' statement, the fund attracted capital from pension funds, sovereign wealth funds, insurers, financial institutions, and other large investors from North America, Asia-Pacific, Europe, and the Middle East. The Canada Pension Plan Investment Board, which has supported all of Ares' Japan logistics funds since their inception in 2011, is a cornerstone...
Keep reading with a free account
The rest of this article, and every signal for Ares Management, is in your free account.
