Singapore Press Holdings (SPH) Limited and Bridge C Capital Inc are joining forces to set up a venture fund that will divert investments in aged care assets in Japan. Some of the aged care assets include senior housing, medical office buildings, and nursing homes. Based on the joint venture deal, SPH will invest seed equity of S$50 million through its subsidiary, SPH JPAM Pte Ltd.
Bridge C, on the other hand, will act as the fund asset manager responsible for directing its focus on sourcing deals, marketing, and the provision of management expertise. Still, SPH JPAM will work with Bridge C to raise additional funds and to source additional assets.
“The move builds on the expertise SPH has acquired through operating Orange Valley, 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,” said SPH deputy CEO Anthony Tan. Tan further added that they are eager to learn from aged care operators and hope to use this knowledge in improving its Orange Valley’s care and operational standards.
Japan has a growing number of an ageing population, making an aged care market a profitable investment. By 2025, Japan’s elderly population will hit 30 per cent – the highest in the world. The partnership, according to Bridge C Capital Chief Executive Officer Mr Daizo Yokota is in line with their mission of investing in sectors where they can do social good. They are hoping that the collaboration will allow them to create better elderly-friendly infrastructure.
Mr Aki Tokuyama, Bridge C Capital’s chairman in Singapore, is hopeful about the partnership. Tokuyama hopes the partnership will highlight the strong bond of Singapore and Japan.
Bridge C Capital is a Japanese real estate asset manager that has assets across multiple property markets, including hospitality, healthcare, office, residential, and even nursery schools. The enterprise also operates one of Japan’s Japan’s leading real estate crowdfunding platforms.
SPH is a Singapore Exchange Mainboard-listed company that owns one of Asia’s top media organisations and several diversified businesses including digital media, publishing, online classifieds, outdoor media, and radio stations. It also has a property conglomeration including a retail REIT and a chain of Orange Valley aged care network.