MGPA hires ex-Carlyle Japan head Minami

The Europe- and Asia-focused private equity real estate firm has bolstered its 50-strong Japanese team with the hire of Rio Minami, the former head of Carlyle’s Japan real estate division.

Rio Minami, formerly head of Japan for The Carlyle Group’s real estate division, has joined Europe- and Asia-focused private equity real estate firm MGPA as a managing director, PERE can reveal.

Minami will be responsible for acquisitions in Japan and will report to the MGPA's country head, Tom Mills, who joined the firm at the turn of the year.

MGPA currently employs approximately 50 staff in Japan, where it manages assets on behalf of its $921 million opportunity fund MGPA Asia Fund II, which closed in 2005, and its MGPA Japan Core Plus Fund, which closed on $865 million in 2006.

As at April this year, the firm had yet to invest any capital into Japan from its $3.9 billion MGPA Asia Fund III – the largest Asia opportunity real estate fund ever raised – although it had planned to invest about half of the fund’s remaining $500 million of uninvested capital into the country.

While Minami would be expected to seek deals for that fund, MGPA also is in the market looking to raise a €500 million core-plus investment fund aimed at German institutional investors that would invest in Japan among other Asia markets.

In addition to previously working for Carlyle, Minami was once a senior vice president at Starwood Capital Group.