(CercleFinance.com) – KKR announces today the closing of the transaction whereby KKR has purchased all the shares of Mitsubishi Corp.-UBS Realty (MC-UBSR), a leading Japanese real estate asset manager.
Going forward, the asset manager, which was called MC-UBSR, will operate as ‘KJR Management’ (‘KJRM’), effective immediately.
In addition, KKR completed the acquisition of the shares of the two funds managed by KJRM, Japan Metropolitan Fund Investment Corporation (‘JMF’) and Industrial & Infrastructure Fund Investment Corporation (‘IIF’) previously held by Mitsubishi Corporation (collectively, with the ‘purchase of all shares of MC-UBSR, the ‘Acquisition’). JMF and IIF will continue to continue their existing strategies under their current names. The two Japanese REITs will be managed and supported by the approximately 160 professionals who are expected to continue working at KJRM in the roles they held at MC-UBSR.
“KJRM will be able to draw on each other’s complementary skills and relationships to deliver strong results for unitholders of our REITs and meet the investment requirements of our clients,” said Katsuji Okamoto, Chairman of the Board. of Directors of KJRM, and Naoki Suzuki, Chairman of KJRM.
With the completion of the transaction, the assets under management of KKR’s global real estate platform grow to approximately US$54 billion.
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