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Aetos takes remaining 50% in Simplex from Goldman Sachs

  • Maya Ando
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Aetos Capital, a US-based private equity and real estate investment firm, will turn its 50% owned Japanese real estate asset manager Simplex Investment Advisors into a wholly owned subsidiary by acquiring the other half owned by a Goldman Sachs. The US investment bank will receive around JPY10 billion($122 million) from Aetos.

Aetos and Goldman together took full control of the real estate asset manager in 2007 for JPY 500 billion ($ 4.1 billion as of the transaction date) including debt, of which JPY350 billion was leveraged by lenders. At the time, the deal was the largest acquisition deal in the realty industry in Japan. This transaction has also allegedly lost the banks an amount estimated at around JPY7 billion($85.2 million) since the original investment.

"We belive the recovery of the Japanese real estate market has been gathering momentum and anticipate more attractive investment opportunities in the future," Scott Kelly, head of real estate at Aetos Capital said in a statement.

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