Home Japan

Japan

Commonwealth Bank of Australia is selling the asset manager in a separate transaction from the planned demerger of its wealth management businesses.
The vehicle will be targeting senior debt for greenfield and brownfield projects in investment-grade countries, as well as developing markets through credit enhancement.
The three have been shortlisted as the Japanese government seeks to privatise the seven airports by 2020 and boost tourism on the country’s northern-most island in the process.
The Japanese asset management firm is initially investing $890,000 in the greenfield Mirai Renewable Energy Fund, targeting a final close by March 2019 on $267m.
But they will be watching whether the government delivers on its promise of support to Kansai International Airport’s concessionaire following the damage super-typhoon Jebi caused earlier this month.
The new fund has a target IRR of 5% and already owns a portfolio of 12 assets purchased from a previously liquidated SPARX fund.
The $1.5trn Japanese investor can now make direct investments into infrastructure, private equity and real estate funds.
The new vehicle’s portfolio includes 12 solar projects acquired from the $80m greenfield renewables fund the Japanese asset manager liquidated earlier this year.
The insurance giant intends to use infra debt investments as a gateway to new markets.
Japan Post Insurance will allocate 1.5 percent to alternatives within the next three years as it looks to build an infrastructure portfolio.
ii
ii

Copyright PEI Media

Not for publication, email or dissemination