Ares Management Corp. has held a final close for its Japan Logistics Development Partners V (JDP V), the latest vintage in its Japan-focused logistics real estate development fund series. Raising ¥612 billion ($4 billion), including LP equity commitments and a GP commitment, JDP V closed at its hard cap and is nearly 50 percent larger than its 2021-vintage predecessor, JDP IV.
The fund attracted commitments from a diversified global investor base comprising pension funds, sovereign wealth funds, insurance companies, financial institutions and other institutional investors across North America, Asia-Pacific, Europe and the Middle East. Canada Pension Plan Investment Board (CPP Investments) is a cornerstone investor in JDP V and has made an equity commitment of ¥150 billion ($968 million). CPP Investments is a founding investor in the JDP fund series and has participated in every vintage since its inception in 2011.
The fundraising follows Ares’ acquisition of GCP In
