Secured Capital To Invest In Real Estate With Aviva

Secured Capital, a real estate unit of PAG, one of the region's largest Asian-focused alternative investment managers, will set up a fund with Aviva plc. to invest mainly in commercial buildings located in the Tokyo area. Aviva is the world's sixth largest insurance group, according to The Nikkei. They have fund raised about $120 million from European investors so far and plan to raise up to $250 million by next spring. With leverages from banks, they are considering investing a total of $500 million in Japanese real estate.