This Japanese Asset Manager Has $9B To Spend On Foreign Assets, And U.S. Acquisitions Are High On Its List
In an effort to become one of the world’s top 15 asset managers — a list dominated by BlackRock, Vanguard Group and Swiss company UBS — one Japanese trust is seeking $9B worth of foreign acquisitions.
The banking arm of Mitsubishi UFJ Financial Group Inc. wants to boost its assets under management from 60 trillion yen to 100 trillion yen by 2020, and it is looking to U.S. companies and real estate to do so, Bloomberg reports. It is also targeting assets in European and Asian markets.
The firm announced in May it will transfer 12 trillion yen worth of loans from 2,600 corporate accounts to its primary lending unit, freeing up capital to deploy in complete takeovers and controlling interest deals.
MUFJ Trust CEO Mikio Ikegaya said the company is planning to make acquisitions on a scale it never has before, and real estate assets will be a big part of the firm’s strategy. Ikegaya told Bloomberg the firm will establish a real estate arm by October at the latest to handle major property deals.