(Nikkei Asia) Goldman Sachs seeks to expand its investments in Japan, remaining keen on office space and data centers.
Goldman plans to almost double its annual property investments to about 250 billion yen or $2.29 billion, from the current 100 to 150 billion yen.
The group will merge its principal investment division in Japan with the Asset Management’s property division and other operations.
Goldman also plans a large-scale fund with outside investors to facilitate further expansion into alternative assets.
The group is targeting office spaces in Yokohama and renovating buildings in areas close to residential hubs to target work-from-home clients.
The US bank will also provide operational support and financing for capital investments and overseas partnerships in the hotel sector to capitalize on post-pandemic bounce in demand.
The bank sees Japan as a major economy that can become a key hub in Asian expansion. The bank also targets a fully-fledged private equity in Japan and considers deals over 100 billion yen.
GS: NYSE is up +0.20% on premarket.
