Giant trading firm Mitsui & Co is to enter a “strategic partnership” with Los Angeles-based CIM Group LLC that will see it “strongly supporting [the] marketing of CIM’s funds to the Japanese market through Japan Alternative Investment Co, a wholly-owned subsidiary, with an aim of raising several hundred billion yen of new capital from Japanese investors in the coming years”. CIM focuses on real estate and infrastructure investment.
The arrangement will see Mitsui acquiring 20% of the US company and investing in several of its funds. Its total outlays are expected to be US$450-550 million. The full announcement is here.
The move follows Softbank’s acquisition of Fortress Investment Group of the US (see archive 15 February) and a number of reported moves by Mitsubishi Estate, the real estate arm of another giant trading conglomerate.
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