Goldman Sachs will expand investments in alternative assets like office buildings and data centers in Japan, consolidating various investment operations into a new merchant banking division capable of tackling a wide range of deals.
As part of a global reorganization drive in its investment operations, the group is merging Goldman Sachs Japan’s principal investment division with Goldman Sachs Asset Management’s property division and other operations.
“Japan is a major economy and will serve as a key hub within Asia,” said Goldman Sachs Japan Managing Director Takashi Murata, who heads merchant banking in Asia.
Goldman is particularly focused on real estate, with plans to roughly double annual property investments to about 250 billion yen ($2.29 billion) from the typical 100 billion yen to 150 billion yen. In addition to principal investments, the company appears to be planning a large-scale fund with outside investors to accelerate its push into alternative assets.
Source: Nikkei Asia
By Taizo Wada
