Yahoo Finance Ex-Goldman Executive Joins Jack Ma-Backed PE Firm in Tokyo
(Bloomberg) -- A former Goldman Sachs Group Inc. executive in Japan is joining a private equity firm backed by Alibaba Group Holding Ltd. founder Jack Ma, according to a person familiar with the matter.
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Kei Tanaka will be in charge of Japan real estate investments at Yunfeng Capital in Tokyo when he starts later this year, the person said, asking not to be identified because the information is private. The firm is looking to invest 100 billion yen ($636 million) in property in the country, focusing on higher-return value-add and opportunistic deals, the person added.
A representative for Yunfeng declined to comment.
The firm, also known as YF Capital, was co-founded by Ma and David Yu and has invested in companies like diagnostics service platform Wuxi Diagnostic Investment (Cayman) Ltd. and Chinese bubble tea chain Nayuki Holdings Ltd.
Tanaka recently left Goldman Sachs after 17 years, Bloomberg reported earlier. Before his departure, he was one of three executives who led the asset management division in its Japan securities unit and oversaw real estate investment.
Japan’s real estate market is drawing overseas investors attracted by the weak yen and ability to borrow at low rates. Ma has been spending time in Japan in recent years, and is currently a guest lecturer at a University of Tokyo research institute.
--With assistance from Lulu Yilun Chen.
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