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Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) entered into an agreement with the specialist infrastructure debt funds management company Westbourne Credit Management Limited ("Westbourne", Head Office: Melbourne, Australia, Managing Director: David Ridley), to acquire a 20% equity ownership in Westbourne. As a result of this investment, Mitsui will become the first Japanese company to participate in a funds management business specializing in infrastructure debt.
Infrastructure debt funds invest into the debt securities (*1) issued by infrastructure-related companies. The infrastructure debt funds market has grown rapidly on a global basis in recent years with the asset class offering stable and predictable returns. The institutional interest in infrastructure debt from Japanese investors is also expected to grow.
Established in Australia in 2008, Westbourne is a funds management company specializing in infrastructure debt funds management. As a leading infrastructure debt funds management company, Westbourne provides investment management services for global institutional investors, including sovereign wealth funds (*2), pension funds and the insurance sector based in East Asia, the Middle East, Europe and Australia. The capital raised from these institutional investors is being progressively invested in the debt of infrastructure-related companies, such as airports, tollroads, ports and water and energy utilities. Westbourne enjoys strong support from a number of well-regarded investment consultants.
Since 2001, Mitsui's wholly owned subsidiary, Japan Alternative Investment Co., Ltd. ("Japan Alternative Investment", Head Office: Tokyo, President and CEO: Atsushi Katayama) has built a track record of sales of alternative financial instruments based on various assets (*3). Infrastructure debt funds managed by Westbourne will also be marketed by Japan Alternative Investment to Japanese investors with the aim of offering a diverse range of investment opportunities.
Through the participation in this infrastructure debt funds management company and other initiatives, Mitsui will continue to respond to the needs of investors by further strengthening our asset management activities and expanding our business platforms in Japan and overseas.
*1 Debt: A debt instrument, senior or mezzanine (such as subordinated loans or preference stock)
*2 Sovereign wealth fund: A government fund that is funded from state assets, such as foreign currency reserves
*3 Alternative financial instrument: Financial instruments other than traditional assets, such as listed shares and bonds (e.g., hedge funds, real estate funds, private equity funds, etc.)
|Company name||Westbourne Credit Management Limited|
|Head office||Melbourne, Australia|
|Representative||David Ridley, Managing Director|
|Shareholders||Founder and employees 80%, Mitsui 20%|
|Business Activities||Infrastructure debt funds management|
|Company name||Japan Alternative Investment Co., Ltd.|
|Head office||Tokyo, Japan|
|Representative||Atsushi Katayama, President & CEO|
|Shareholders||Wholly owned subsidiary of Mitsui|
|Business Activities||Securities/investment advisory firm specializing in alternative investments|
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.