abrdn expands real estate investment business in Japan
08 October 2024abrdn plc (`abrdn’), a global investment company, today announced the expansion of its real estate investment business in Japan through its subsidiary, abrdn Japan Limited (‘abrdn Japan’). This strategic move comes as abrdn commences a new investment mandate to manage a residential portfolio in Japan.
The investment mandate is managed by abrdn Japan for Dutch pension investor PGGM. In alignment with this expansion, abrdn Japan has appointed Harumi Kadono as Head of Japan Real Estate.
Ken Yajima, Chief Executive Officer of abrdn Japan, said: “The Japanese market is pivotal to abrdn’s global business strategy. We are deeply committed to this market and continuously strengthen our local team to offer superior services and innovative investment solutions to both Japanese investors and those looking to invest in Japan. This expansion underlines our ambition to excel in the Japanese real estate market."
Ronald Bausch, Senior Director at PGGM private real estate expressed enthusiasm about the collaboration, stating: “We are very happy to further expand the global relationship that we already have had for years with abrdn. This allows us to act upon opportunities throughout the region more efficiently. We look forward to leveraging abrdn’s global knowledge on sustainability which generates long-term value for its customers. This will help us to generate good financial returns while improving on our sustainability targets which are set by our client PFZW, the Dutch pension scheme for the healthcare sector."
The timing of abrdn’s expansion coincides with the initiation of the US Federal Reserve’s monetary easing cycle. Global real estate, as an asset class, is likely to gain from the lower interest rate environment, while the Japan residential market is further supported by the robust fundamentals of the Japanese economy and substantial local demand.
Anne Breen, Global Head of Real Estate, said: “Amidst evolving policy and economic landscapes, the Asia Pacific market presents a rich tapestry of investment opportunities. Japan's residential sector, in particular, stands out due to its robust occupier demand and defensive attributes, continuing to draw significant capital from global investors. This expansion underscores our commitment to enhancing our real estate capabilities globally and across diverse segments. We are dedicated to building up our team in Japan and throughout the region, aiming to capitalize on these investment opportunities.”
As an active participant in the global real estate market for over 50 years, abrdn has extensive experience in managing direct and indirect real estate investments, real estate multimanager services, listed real estate, and real estate debt solutions. As of 30 June 2024, abrdn managed £35 billion in real estate assets and around 1,000 properties globally.
Ends
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Notes to editors
Biography of Harumi Kadono
Harumi Kadono joined abrdn Japan in 2024 as the Head of Japan Real Estate. She brings over 20 years of experience in the real estate investment and financial industry. Before her tenure at abrdn Japan, Kadono was a part of Atlas Partners starting in 2009, a predecessor firm which subsequently merged into IDERA Capital Management, where she provided fund management services to a broad spectrum of international investors as the Head of Fund Management. There, she oversaw all fund management activities, including the development of investment strategies, fundraising, and managing investor relations. Earlier in her career, she spent four years at GIC Real Estate. In this role, she spearheaded real estate fund composition and management projects, focusing on investments and managements of S-class office buildings and the development of commercial facilities in Tokyo. Kadono also held various positions at GE Real Estate, contributing to the asset management and mezzanine debt teams. Her responsibilities included the origination and servicing of several non-recourse loans. She earned her bachelor's degree from Osaka University and a master's degree from the Graduate School of International Christian University.
About abrdn
- abrdn is a global investment company that helps clients and customers plan, save and invest for the future. Our purpose is to enable our clients to be better investors.
- abrdn manages and administers £505.9bn of assets for clients (as at 30 June 2024).
- Our strategy is to deliver client-led growth. We are structured around three businesses – Investments, Adviser and interactive investor – focused on their changing needs.
- The capabilities in our Investments business are built on the strength of our insight – generated from wide-ranging research, worldwide investment expertise and local market knowledge.
- Our teams collaborate across regions, asset classes and specialisms, connecting diverse perspectives and working with clients to identify investment opportunities that suit their needs.
- As at 30 June 2024, our Investments business manages £369.3bn on behalf of clients - including insurance companies, sovereign wealth funds, independent wealth managers, pension funds, platforms, banks and family offices.