Mitsubishi Estate is planning to boost its asset- management business, Bloomberg reports. The Japanese developer aims to increase the size of a property fund that targets pension investors to $6.4 billion from about $386 million within the next 10 years.
The open-ended fund was established in March as part of the firm’s long- term goal to more than double the total assets under management by 2020. The asset manager will acquire properties from its parent and other real estate owners.
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