Tokyo-based Ichigo Group Holdings(Ichigo) has established a new real estate fund that has acquired all shares of an undisclosed property company that owns both operating real estate and land leaseholds. Ichigo Real Estate Investment Advisors Co. Ltd., Ichigo’s 100 percent subsidiary, will manage all of the acquired property firm’s assets — approximately 80 office, commercial, and residential properties and land leaseholds — which are valued at ¥7.3 billion ($88 million).

This particular fund platform has been structured in the form of corporate M&A, as Ichigo has established a limited liability company that has raised capital from an equity investor, DLJ RECP, to purchase all shares of the property company. The fund will distribute returns to DLJ RECP from the profits generated by the property firm’s real estate.

DLJ RECP was engaged exclusively in real estate