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Unison exits Japan real estate management firm to Fosun

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Chinese conglomerate Fosun Group has bought Tokyo-based real estate management firm IDERA Capital Management from Japanese private equity firm Unison Capital. Financial terms were not disclosed.

IDERA was founded in 2001 and it had JPY160 billion ($1.57 billion) assets in under management (AUM) at the end of last year, including property investment funds.

Unison invested in IDERA in 2011 via its third buyout fund, which reached a final close of JPY140 million in 2009.

"Under such situations that Japanese real estate investment market moves into full-scale recovery and growth phase, IDERA continuously aims to expand AUM and to grow up dramatically to one of the best and unique real estate investment management platforms in Japan therefore in Asia with long-term support by Fosun," IDERA said in a statement.

Fosun Property Holdings, a real estate subsidiary of Fosun, will cooperate with IDERA's team on their investments in Japan.

This is Fosun's third overseas real estate acquisition. Last year, it bought a 60-floor tower at One Chase Manhattan in New York for $725 million and purchases the office building Lloyds Chambers in London.

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