Ares Closed Japan Logistics Development Partners V at JPY 612 Billion:

Ares Management has achieved final close of its Japan Logistics Development Partners V fund at ¥612 billion (approximately US$4 billion including limited partner equity and general partner commitment), hitting the vehicle's hard cap and establishing a new institutional fundraising record for Ares Real Estate. The raise represents a 48% increase relative to JDP IV's ¥412 billion close in 2021, signaling accelerating capital flow toward Japanese logistics infrastructure in the post-pandemic environment.

Canada Pension Plan Investment Board (CPP Investments) served as the cornerstone limited partner, committing ¥150 billion (US$968 million) in equity capital. The participation of a large, institutional public pension fund reflects institutional-grade confidence in the underlying logistics thesis and Ares' execution track record in Japan's logistics market.

JDP V will focus on development and acquisition of institutional-quality modern logistics facilities across three primary Japanese metropolitan regions: Greater Tokyo, Greater Osaka, and Nagoya. The fund will execute this strategy through Marq Logistics, Ares' vertically integrated logistics platform, which manages both the capital deployment and operational control of the portfolio. The fund has secured ¥1.7 trillion (approximately US$11 billion) in total investment capacity and has already committed capital to projects representing approximately ¥450 billion in aggregate total investment, indicating rapid deployment momentum from day one.

The final close announced around September 1, 2026, marks a hard-cap completion rather than a first close or single-asset acquisition. For institutional investors, this represents Ares' largest closed-end Japan-focused real estate fundraise to date and underscores the strategic importance of Japanese logistics infrastructure in the firm's Asia-Pacific real estate allocation strategy.