TOKYO — Life insurer Dai-ichi Life Holdings and trading house Marubeni are establishing a fund management company that will invest 400 billion yen ($2.77 billion) in Japanese real estate this fiscal year, collecting money from the nation’s pension funds, which are less active in the sector than their overseas counterparts.
The two Japanese companies are establishing Tuesday a 50-50 joint venture named Dai-ichi Life Marubeni Real Estate. The duo’s total of seven real estate units will integrate under the new venture, which will operate real estate investment management and real estate development businesses.
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