By Ishita Russell
The REIT is poised for a Rs 5,000-crore ($700-million) listing on the stock exchanges soon.
Mofang raised about $400 million across three previous rounds, and counts Warburg Pincus as its largest shareholder.
The Japanese company is deemed delisted if the management buyout goes through.
GPIF, the world’s largest pension fund, aims to allocate 5% of its total assets to alternative investments. Its alt investments accounted for 0.21% of total assets as of 2018-end.
The move is seen part of Linde’s efforts to divest assets in South Korea and elsewhere to get antitrust clearance for its $86 billion merger with rival Praxair.
Boyu’s investors include Hong Kong’s richest man Li Ka-shing and Singapore state investors Temasek and GIC.
KKR recently bolstered its presence in the Asia-Pacific region by hiring Kate Richdale from Goldman Sachs to lead its strategy and business development there
The Swiss investor opened its Tokyo office in 2010 after establishing its first Asia presence in Hong Kong in 2007.
PE firms are finding opportunities to invest in Japan boosted by negative interest rates and an effort by PM Shinzo Abe to improve corporate governance.
While its first investment in the insurance space is a buyout, the PE firm is also open to minority investments if it finds the right partner.