SPH partners with Bridge C Capital to create an aged-care and health care fund in Japan
SINGAPORE: Singapore Press Holdings Limited (SPH), through its wholly-owned subsidiary, SPH JPAM Pte Ltd, has entered into a strategic partnership with Bridge C Capital Inc. to set up a fund, focused on investing in aged care and health care assets such as senior housing, nursing homes and medical office buildings in Japan.
Singapore Press Holdings Limited (SPH) will invest seed equity of up to S$50 million in the Fund while Bridge C will be the asset manager for the properties in Japan acquired by the Fund, focusing on marketing, deal sourcing, and management expertise.
Both parties will be jointly responsible for raising additional funds, as well as sourcing for suitable assets for the Fund.
“The move builds on the expertise SPH has acquired through operating Orange Valley (OV), Singapore’s largest nursing home operator over the past two years. Expanding overseas in markets with fast ageing populations like Japan gives us a chance to expand our recurring income base, as well as build up our asset management capabilities in a growth segment. We will also be able to learn from leading aged care operators overseas to improve OV’s care and operational standards,” said Anthony Tan, Deputy CEO of SPH.
SPH’s partner Bridge C is a growing real estate asset manager in Japan which invests in a variety of asset classes including healthcare, hospitality, residence, office and nursery schools. The company also owns and operates the No.1 real estate crowd funding platform in Japan.
CEO of Bridge C Capital Daizo Yokota said: “Our corporate mission is to invest where we can also do social good. Japan’s population is rapidly aging and the numbers are projected to grow even further. This partnership will enable us to create better elderly-friendly infrastructure.”
Singapore-based chairman of Bridge C Capital Aki Tokuyama said: “It is a great pleasure to partner a reputable company in Singapore. We hope that this collaboration will show case the good partnership between Singapore and Japan.”
The Japan aged care market offers significant potential. Japan is projected to see its elderly population (65 years and above) increase from 28.0% in 2017 –highest in the world –to 30% by 2025.