Inaugural fund will have an initial capital capacity of JPY400bn
Dai-ichi Life Marubeni Real Estate, created as a result of a merger of the domestic real estate businesses of Japanese insurer Dai-ichi Life and conglomerate Marubeni Corporation, is to launch its inaugural fund which will have an initial capital capacity of JPY400bn (€2.4bn).
The two firms agreed in February to form the real estate joint venture, with each company owning a 50% equal interest stake. The partners have a total of seven real estate units and will integrate and operate as Dai-ichi Marubeni Real Estate.
The Dai-ichi Marubeni Real Estate venture plans to launch its first private placement fund this fiscal year, with a strategy to introduce additional funds in the coming years. The capital from this inaugural fund is earmarked for investments in various sectors, including housing, hotels, and logistics facilities.
Dai-ichi Marubeni Real Estate aims to access the Japanese pension market.
Marubeni said: “The joint venture company will realise sustainable growth and creation of new value through leveraging economies of scale facilitated by the fusion of Dai-ichi Life Holdings’ asset management and financial intermediation functions with Marubeni’s track record and expertise cultivated through Marubeni’s extensive network and knowledge.”
With a focus on real estate asset management, Dai-ichi Life Marubeni Real Estate will provide services from real estate development/ownership to property management.
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