ESR brings in partners for Japan logistics projects fund

ESR brings in partners for Japan logistics projects fund
21/05/2019 , by , in INTERNATIONAL

Pan-Asian logistics group ESR has had a first close for the ESR Japan Logistics Fund 3 (RJLF3) with an initial capacity to capitalise up to JPY200bn (€1.63bn) of Japanese real estate projects.

The Warburg Pincus-backed manager has brought in two unnamed partners to its latest Japan fund. The two investors had made a combined initial equity investment of JPY70bn.

The capital would be invested in large-scale, state of the art logistics facilities in key Japanese cities of Tokyo, Osaka and Nagoya.

ESR said said in a statement that the partners had a commitment expansion option that, over time, would bring the total investment capacity to up to JPY530bn.

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