SPH ties up with Bridge C Capital to create Japan aged-care fund

Novelty Japan pens at DaisoNovelty Japan pens at Daiso

Correction: SPH has corrected the proportion of Japan’s population expected to be aged 65 or older by 2025 to 30 percent. 

Singapore Press Holdings’ wholly owned subsidiary SPH JPAM entered a strategic partnership with Bridge C Capital to set up a fund to invest in Japanese healthcare assets such as senior housing, nursing homes and medical office buildings, the media and property company said Tuesday.

SPH will provide seed equity of S$50 million to the fund, while Bridge C will be the asset manager for Japanese properties acquired by the fund, the company said in a filing to SGX.

Both companies will be responsible raising additional funds and sourcing assets for the fund, SPH said.

“The move builds on the expertise SPH has acquired through operating Orange Valley (OV), Singapore’s largest nursing home operator over the past two years,” Anthony Tan, deputy CEO of SPH, said in the statement.

“Expanding overseas in markets with fast ageing populations like Japan gives us a chance to expand our recurring income base, as well as build up our asset management capabilities in a growth segment,” he added. “We will also be able to learn from leading aged care operators overseas to improve OV’s care and operational standards.”

Bridge C, a real estate asset manager in Japan, invests in a broad range of asset classes, including healthcare, hospitality, residence, office and nursery schools, the statement said, adding it also owns Japan’s largest real estate crowdfunding platform.

Daizo Yokota, CEO of Bridge C, said his company’s corporate mission was to do “social good” with its investments.

“Japan’s population is rapidly aging and the numbers are projected to grow even further. This partnership will enable us to create better elderly-friendly infrastructure,” Yokota said in the statement.

The country’s elderly population — aged 65 and above — is expected to increase to 30 percent of the total by 2025 from 28 percent in 2017, already the highest globally, SPH said, citing data from a Japanese government report published in July.

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