Samty Holdings, an accommodation developer and fund manager in Japan, on Monday announced the final closing of its new multifamily asset fund totalling $500 million, of which $200 million was already allocated to its first portfolio of newly built assets located in key residential hubs.
This multifamily asset fund was established in a strategic partnership with a sovereign wealth fund. Samty’s majority owner, Hillhouse Investment Management, serves as the general partner (GP). Hillhouse’s engagement is through its real estate investment arm, Rava Partners, according to a joint announcement.
The new fund’s asset portfolio currently consists of 16 newly built high-quality properties developed or sourced by Samty, with a total of 1,948 units largely in established neighbourhoods of Tokyo and Osaka.
Samty has taken a 10% equity stake in the newly launched fund as it is transitioning from a traditional real estate developer into a fully integrated real estate investment and asset management platform following Hillhouse’s acquisition.
Hillhouse and Rava Partners privatised the previously Tokyo-listed Samty after acquiring the company from its largest shareholder Daiwa Securities Group for 169 billion Japanese yen ($1.1 billion).
Since being privatised in January, Samty has initiated its transition through several initiatives, including the closing of its first hotel-focused private real estate fund, the sale of two investment pools of multifamily assets to international sovereign wealth funds, and the announcement of its acquisition of UniLodge, Australia and New Zealand’s largest student accommodation operator.
“The fund marks another significant milestone in our company’s continued transformation. Sustainable market factors are driving long-term growth potential in this asset class, and we have the resources and partnerships to make a real impact,” said Yasuhiro Ogawa, president and CEO of Samty.
Founded in 2005 with initial funding from the Yale University Foundation, Hillhouse invests on behalf of institutional clients around the world, including university endowments, foundations, and sovereign wealth funds across the Americas, Europe, Asia and the Middle East.
The firm offers a diverse range of investment strategies, including buyout, real assets (through Rava Partners), and private credit (through Elham Credit). Starting from its first office in Singapore, Hillhouse today boasts an international team of over 450 professionals from more than 18 countries, with other offices in New York, Tokyo, London, Mumbai, Hong Kong, Amsterdam, Sydney, Shanghai and Beijing.
