Ares Management closed its fifth Japan-focused logistics real estate fund at ¥612 billion, or approximately $4 billion. Japan Logistics Development Partners V reached its maximum hard cap. The fund is nearly 50% larger than its 2021 predecessor.
This raise marks the largest closed-end institutional fund for Ares' real estate platform. Global investors including pension funds, sovereign wealth funds, and insurers provided commitments. Canada Pension Plan Investment Board acted as a cornerstone investor with a ¥150 billion commitment.
Capital will fund modern logistics facilities in Tokyo, Osaka, and Nagoya. The fund maintains a total investment capacity of approximately $11 billion. Ares has already committed approximately ¥450 billion to active projects.