CIM Group and Mitsui & Co., Ltd. Announce Strategic Partnership
February 20 2017 - 1:00AM
Business Wire
CIM Group, LLC (“CIM”) and Mitsui & Co., Ltd.
(“Mitsui”) announced
today a strategic partnership that expands both
organizations’ growth initiatives in real estate and infrastructure
investments across North America. Proceeds from Mitsui’s 20%
investment in CIM will be used entirely to fund CIM's continued
growth. Mitsui will also commit capital to multiple CIM funds. This
relationship demonstrates Mitsui’s confidence that CIM’s investment
management capabilities will be increasingly valued by global
investors. CIM will continue to be overseen and controlled by its
founders and principals. Mitsui’s total investment will be $450-550
million, with adjustments based on terms of the agreement.
“We are excited to partner with Mitsui
to position CIM to be the
first choice for Japanese investors interested
in real estate and infrastructure investments in North
America,” said Avi Shemesh, Co-Founder and Principal of CIM
Group. “This partnership will allow CIM to better meet the growing
needs of our investors.”
Mitsui is one of the oldest and most respected
Japanese companies. The company has deep experience
in listing and managing public Japanese REITs, private
fund management, and partnering with investment managers. In
addition, through its wholly-owned subsidiary, Japan
Alternative Investment Co., Ltd., Mitsui is a leading advisor
to Japanese institutional investors. Through its partnership with
CIM, Mitsui will enter the U.S. real estate asset management
market, the largest globally, and will enhance its steady profit
base with CIM positioned at the core of its international asset
management strategy.
“Our investment in CIM was the culmination of a systematic
search for a best-in-class manager in the real-asset
management business. Investing in CIM is consistent with our
strategic plan to expand Mitsui’s real-asset management
business to the U.S. and to enhance Mitsui’s
global assets under management,” said Tatsuo
Yasunaga, President and CEO of Mitsui.
About CIM Group
Established in 1994, CIM is a leading partner for global
institutional investors seeking to invest in real assets located in
and serving urban communities with a principal focus on North
America. CIM is a real assets manager with approximately $19
billion in assets under management offering investment strategies
in opportunistic, core/stabilized, and value-add
real estate, real estate debt, and infrastructure. CIM’s
broad expertise includes in-house research, acquisition,
investment, development, finance, leasing and property management
capabilities. Headquartered in Los Angeles, CIM maintains regional
offices in New York City, Oakland, CA, Bethesda, MD, and
Dallas. For more information, please
visit www.cimgroup.com.
About Mitsui
Mitsui is one of the most diversified and comprehensive trading,
investment and service enterprises in the world, with 138 offices
in 65 countries as of Feb. 1, 2017. Utilizing its global operating
locations, network and information resources, Mitsui is
multilaterally pursuing businesses ranging from product sales, to
worldwide logistics and financing, to the development of major
international infrastructure and other projects in the following
sectors: Iron & Steel Products, Mineral & Metal Resources,
Infrastructure Projects, Integrated Transportation Systems,
Chemicals, Energy, Food, Food & Retail Management, Healthcare
& Service, Consumer Business, IT & Communication Business,
and Corporate Development Business. Mitsui is actively pursuing
opportunities for global business innovation around the world. For
more information, visit http://www.mitsui.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170219005047/en/
For CIM:Mendel CommunicationsBill Mendel,
212-397-1030bill@mendelcommunications.com