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JPMorgan Eyes Japan Real Estate on Bet BOJ Persists With Easing

  • Cheap leverage is available to enhance returns, Pil says
  • Central bank policies are diverging as Fed, ECB tighten
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Bloomberg’s Gareth Allan explains why JPMorgan’s alternative asset management unit is eyeing Japanese real estate.(Source: Bloomberg)

JPMorgan Chase & Co.’s alternative asset management unit is eyeing Japanese real estate and infrastructure, betting betting such investments will benefit from the nation’s lingering monetary stimulus even as central banks elsewhere start to tighten.

“Leverage is still very inexpensive in Japan, so you can use a degree of leverage to enhance returns,” said Anton Pil, managing partner of JPMorgan Global Alternatives. “Many foreigners want to get exposure to Japanese real estate because the Bank of Japan is on a different schedule” to other central banks, he said. Pil’s unit, which manages about $130 billion, is also buying other real assets in Japan including solar-power farms and ships.