Ares Management Corporation has reached the final close of Japan Logistics Development Partners V LP, the latest vintage in its Japan-focused logistics real estate development fund series. Raising ¥612 billion (approximately US$4 billion), including LP equity commitments and GP commitment, JDP V closed at its hard cap and is nearly 50% larger than its predecessor 2021-vintage JDP IV. It alsorepresents Ares Real Estate’s largest closed-end institutional fundraise to date.
The fund attracted commitments from a diversified global investor base comprising pension funds, sovereign wealth funds, insurance companies, financial institutions and other institutional investors across North America, Asia-Pacific, Europe and the Middle East. Canada Pension Plan Investment Board is a cornerstone investor in JDP V and has made an equity commitment of ¥150 billion (approximately US$968 million).
Consistent with its predecessor funds, JDP V will primarily invest in the development of institutional-quality modern logistics facilities across Japan’s key metropolitan markets, including Greater Tokyo, Greater Osaka and Nagoya. The fund’s investments will be developed and operated by Marq Logistics, Ares’ vertically integrated global logistics real estate platform, which manages approximately 120 million square feet in Japan and over 655 million square feet globally, as of June 30, 2026
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