Ares raises $4 billion for Japan logistics fund in unit's largest fundraise

HONG KONG, Sept 1 : Ares Management, a U.S.-based investment firm, said on Tuesday its real estate arm has raised 612 billion yen ($4 billion) for its fifth Japan logistics development fund, marking the unit's largest closed-end institutional fundraise to date.The fund, Japan Logistics Development Partners V LP, closed at its maximum target, known as a hard cap, and is nearly 50 per cent larger than its 2021 predecessor, Ares said in a statement on Tuesday.The fund will mainly invest in developing modern logistics facilities in Japan's key metropolitan markets, including Greater Tokyo, Greater Osaka and Nagoya, Ares said.Real estate services firm CBRE has projected in a report that rents for large multi-tenant logistics facilities would rise in Japan's four major metropolitan areas by late