Minato Management Co., Ltd. (Head Office: 1-1-12 Toranomon, Minato-ku, Tokyo; Representative Director: Tatsuto “Tad” Kuramoto) is pleased to announce that we are now capable of forming real estate funds under the Real Estate Specified Joint Enterprise Act using a voluntary partnership (Nin’i Kumiai, NK) structure.
Until now, as a licensed Type 3 and Type 4 operator under the Act, we have primarily utilized special purpose companies (SPCs) to form funds using the silent partnership (Tokumei Kumiai, TK) structure. With the recent official approval of our updated Business Method Statement by the relevant authorities, we are now also authorized to form funds using the NK structure as a Type 3 operator.
While NK-type funds are typically formed by Type 1 operators, it is extremely rare for a Type 3 operator to be authorized to do so. Our firm’s new capability enables us to structure funds using an SPC-based model—commonly seen in institutional funds—while incorporating the flexibility and tax advantages of the NK structure.
Going forward, we will continue to offer optimal fund structures tailored to the nature of the underlying assets and the needs of our investors by utilizing both TK and NK schemes.