UBS to set up private fund to invest in hotel assets in Japan

Singapore

UBS Asset Management's Real Estate & Private Markets (REPM) business is planning to set up a private fund to invest in hotel assets in Japan, targeting to raise capital in the range of US$500 million. It is also keen to partner with developers to build high-end manufacturing facilities in China.

This is driven by the longer term prospects of Japan's tourism market and stable yields from high-specification factories in China, said Graham Mackie, managing director and head of global real estate for Asia Pacific at UBS Asset Management.