Fortress Said to Target $1 Billion for Japan Property Fund
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Fortress Investment Group LLC, the investment company overseeing $46.4 billion, wants to raise $1 billion for a Japanese property fund by the end of the year, two people familiar with the plan said.
The company’s second Japan Opportunity Fund, which invests in assets including real estate debt, is in the process of buying $200 million of debt from Japanese and foreign banks with a total principal balance of $1.3 billion, said the people, who requested anonymity because the information is private. Todd Ladda, New York-based managing director and head of capital formation for credit at Fortress, declined to comment.