Aberdeen Standard, Sumitomo Mitsui in real estate JV

Edinburgh-based fund management giant Aberdeen Standard Investments (ASI) and Japan’s Sumitomo Mitsui Trust Bank, Limited announced on Tuesday the establishment of a joint venture that will invest in residential real estate in Japan and other mature markets across Asia Pacific.

Aberdeen Standard Investments is Europe’s second largest real estate investment manager, managing $50.9 billion of real estate assets across UK, Europe and Asia Pacific.

In all asset classes, Aberdeen Standard manages $643.3 billion of assets worldwide. 

Kengo Noguchi, senior managing executive officer, Sumitomo Mitsui Trust Bank, said: “We are delighted to provide global investors with a Japan-focused real estate strategy jointly with Aberdeen Standard Investments.

“We are confident in a successful partnership building on our strong capabilities in real estate brokerage and asset management.”

David Paine, global co-head of real estate, Aberdeen Standard Investments, said: “The joint venture is an important step in expanding our global investment offering, as we continue to address investors’ need for alpha and diversified return.

“We are pleased to partner with Sumitomo Mitsui Trust Bank to bring a new Japan-focused real estate strategy to clients, and look forward to building out this relationship.” 

Kang Puay Ju, global head of real estate multi-manager, Aberdeen Standard Investments, said: “Over the next decade cities in the Asian Pacific region are set to experience very strong growth, fuelled by both domestic and foreign immigration to major metropolises, which bode well for housing demand over the medium-term.”