ESR raises US$630m for Japanese logistics fund
APAC Real Estate | May 22, 2019
Hong Kong-based logistics real estate platform ESR has raised JPY 70bn (US$630m) in the closing of its ESR Japan Logistics Fund 3 to fund its development pipeline in Greater Tokyo, Osaka and Nagoya.ESR, which has US$16bn of assets under management, raised the equity commitments from two investors, initially providing the fund with up to JPY 200bn of investment firepower.The investors have commitment expansion options that would increase total investment capacity to as much as JPY 530bn (US$4.8bn) over time, ESR announced.