Dai-ichi Life, Japan’s fourth-largest insurance company with total asset JPY 35.7 trillion ($325 billion), has relaunched its overseas real estate investments after 26 years.
According to Nikkei News, Dai-ichi Life will be deploying JPY 10 billion ($91 million) into European real estate through funds of funds in September 2017, and plan to increase investment size as well as expand their reach into the United States and Australia in 2018.
Dai-ichi Life has chose European investments as their first overseas investment location since its hiatus due to the lower currency hedge costs it offers.
In the 1980s, Dai-ichi Life’s overseas real estate assets totaled JPY 600 billion ($5.44 trillion); however after the Japanese bubble burst, they stopped investing overseas, and had zero assets left by 2001.
