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KKR to acquire Japanese real estate asset manager from Mitsubishi Corp. and UBS Asset Management
Transactions - MARCH 17, 2022

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KKR to acquire Japanese real estate asset manager from Mitsubishi Corp. and UBS Asset Management

by Andrea Zander

KKR has plans to acquire all of the outstanding shares of Mitsubishi Corp.-UBS Realty (MC-UBSR), a Japanese real estate asset manager, from Mitsubishi Corp. and UBS Asset Management (UBS-AM) in an all-cash transaction valued at JPY 230 billion ($2 billion).

MC-UBSR is one of the largest real estate asset managers in Japan. Founded in 2000 as a joint venture between Mitsubishi and UBS-AM, MC-UBSR is a pioneer in the Japanese real estate investment trust (J-REIT) segment. Today, it is one of the largest real estate asset managers in Japan with JPY 1.7 trillion ($15 billion) in assets under management. The business has approximately 170 dedicated professionals managing two Tokyo Stock Exchange-listed REITs: Japan Metropolitan Fund Investment Corp. (JMF) and Industrial & Infrastructure Fund Investment Corp. (IIF).

JMF, with approximately JPY 1.3 trillion ($11 billion) in assets under management as of Aug. 31, 2021, invests in retail, offices, hotels and

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