BNP Paribas Asset Management Alts (BNPP AM Alts) has secured a Dai-ichi Life-led fund as a new investor in ESR Kuki, a multistory logistics facility in Saitama, Japan.
The fund led by Dai-ichi Life has acquired a 49 percent stake in the asset from BNPP AM Alts, acting on behalf of its clients, which retains 49 percent ownership of the facility. BNPP AM Alts will continue to act as the asset manager. The remaining 2 percent is owned by ESR – a leading Asia Pacific real asset owner and manager that initially developed the facility in 2017.
In 2020, AXA IM Alts, a BNP Paribas group company since July 2025, acquired an indirect 75.6 percent stake in the high-quality four-story logistics asset, through an ESR-managed vehicle, before building a direct 98 percent stake in 2024. Today the asset is 100 percent leased to customers, including a blue-chip global ecommerce retailer. The asset offers more than 1.5 million square feet of modern, institutional grade warehousing, wit
