Singapore Press to set up S$50 mil. fund in nursing, healthcare with Japan’s Bridge C Capital

19, Oct. 2019

SINGAPORE, NNA - Singapore Press Holdings Ltd. (SPH) will inject up to 50 million Singapore dollars ($36.6 million) into a fund it has set up with Japanese asset management provider Bridge C Capital Inc. to invest in nursing and healthcare facilities in Japan.

The Singapore media organization has entered into the partnership with Bridge C through its wholly-owned subsidiary SPH JPAM Pte. Ltd., SPH said in a press release on Tuesday. “Expanding overseas in markets with fast aging populations like Japan gives us a chance to expand our recurring income base,” SPH Deputy CEO Anthony Tan said.

SPH will invest in the fund while Bridge C. will be the asset manager for the properties acquired in Japan by the fund – focusing on marketing, deal sourcing, and management expertise, the statement said. The properties include senior housing, nursing homes, and medical office buildings.

Bridge C has not previously partnered with a Singapore corporation in managing a fund targeting nursing and healthcare facilities in Japan. In the sector of care for the elderly, SPH owns Singapore’s largest private nursing home operator Orange Valley Nursing Homes Pte. Ltd.

“Among overseas investors who are interested in Japan’s senior market, SPH was receptive to investment from an early stage,” Bridge C President Daizo Yokota told NNA, adding that his company has already selected several properties for the fund and aims to manage assets worth about 50 billion yen ($461 million) in the future.