Ping An and Ascot start RE fund business in Japan

Tokyo cityAscot Corp, an associate of Chinese insurer Ping An, has launched a real estate fund management business in Japan. The fund will invest in multiple family residential, senior living facilities and student housing located in the Tokyo metropolitan area. Ascot will serve as the asset manager of the fund and plans to partner with institutional investors to expand the scope of the fund and acquire properties from external developers and funds. According to Ascot, the decision to focus on Japanese real estate has been prompted by the increased allocation to Japanese real estate by international investors, due to Japan’s low interest rate and the relatively high liquidity of Tokyo real estate. The business will be led by Akira Oishi who joined Ascot in July 2021 as executive officer and head of the real estate fund business department. © 2022 funds global asia

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