Bouwinvest, which invests internationally on behalf of Dutch pension fund BpfBouw, has backed Nuveen Real Estate’s Japan Alternatives Living strategy.
Nuveen, which raised around $100m (€96m) at the initial close of the Japan Alternatives Living strategy also received capital contribution from its parent company, TIAA.
The strategy, which will mainly target senior housing, may also pursue other living sector assets, such as student housing, single-family and co-living.
Robert Koot, director of APAC investments at Bouwinvest said: “We always aim for investments globally where financial and social returns go hand in hand. Real estate investments provide solid and stable income, while also beneficial for society as a whole.
“We believe investing in senior housing fits perfectly in this strategy, as demand for qualitative housing will further strongly rise,” said Koot.
Louise Kavanagh, CIO and head of Asia Pacific, real estate, at Nuveen, said Nuveen’s strategy had been designed to provide investors with exposure to senior housing markets in the world’s largest metropolitan area by GDP and population, where the proportion of senior citizens relative to the population is bigger than any other country.
Nuveen and Bouwinvest also have an ongoing partnership with Japanese asset manager Kenedix which invests in multifamily real estate in Tokyo.
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