Asian alternative investment manager Pacific Alliance Group has agreed to invest up to JPY4.5bn (USD46m) in convertible bonds issued by real estate investment manager Secured Capital Ja
Asian alternative investment manager Pacific Alliance Group has agreed to invest up to JPY4.5bn (USD46m) in convertible bonds issued by real estate investment manager Secured Capital Japan.
Pacific Alliance has made an initial payment of JPY3bn.
Pacific Alliance and Secured Capital Japan have also agreed to co-invest substantial capital in prudent real estate opportunities and distressed debt over the next several years in Japan and greater China.
The two investment managers say they will explore separately and invest jointly in the opportunities offered by the current environment for distressed situations, and that the relationship will allow them to combine and capitalise on their respective regional expertise and networks in Japan and greater China.
‘The combined investment and market knowledge of Pacific Alliance and Secured Capital Japan will deliver new and promising investment opportunities, with a focus on real estate and distressed situations,’ says Pacific Alliance chairman Horst Geicke (pictured).
Katsuya Takanashi, president of Secured Capital Japan, says: ‘This transaction significantly strengthens our financial position and allows us to take full advantage of the significant opportunities that these dislocated markets will offer to savvy, well capitalised investors. Pacific Alliance is a leader in opportunistic investing in greater China and as such, this relationship complements our existing businesses very well.’