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From Komfie Manalo, Opalesque Asia:
Diversified global investment firm Fortress Investment with over $51.5bn in assets under management, has officially closed its Fortress Japan Opportunity Fund II after its assets reached $1.65bn (¥130bn). The FJOF II is a successor fund to the Fortress Japan Opportunity Domestic Fund which closed in June 2010 at its cap of approximately $800m.
Fortress's Japan Opportunity funds are focused on investments in real estate-related debt and other assets in Japan. The funds seek to capitalize on dynamics related to significant deleveraging by financial institutions and near-term debt maturities: supply demand gaps, limited credit availability, price distortions, volatility and sales of non-core or distressed real estate-related assets.
"We are very pleased with the success to date of our first Japan Opportunity fund, and we believe the environment remains historically attractive for disciplined, opportunistic investments in Japanese real estate-related debt and other assets," said Thomas Pulley, Chief Investment Officer of Fortress Japan. "We anticipate that deleveraging and the disposition of non-core assets will remain at heightened levels in the coming years, and that significant opportunities will result for select managers. We believe the Fortres...................... To view our full article Click here
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