SPH to invest $50 mil in new investment fund for aged care, healthcare assets

Pauline Wong

SINGAPORE (Oct 16): Singapore Press Holdings, via its wholly-owned subsidiary, SPH JPAM, has entered into a strategic partnership with asset managers Bridge C Capital Inc to set up an investment fund focused on investing in aged care and healthcare assets.

The partnership will see SPH invest seed equity of up to $50 million into the fund, while Bridge C will be the asset manager for the properties in Japan acquired by the fund, focusing on marketing, deal sourcing, and management expertise.

Both parties will be jointly responsible for raising additional funds as well as sourcing for suitable assets for the fund.

“The move builds on the expertise SPH has acquired through operating Orange Valley (OV), Singapore’s largest nursing home operator, over the past two years,” says Anthony Tan, deputy CEO of SPH.

“Expanding overseas in markets with fast ageing populations like Japan gives us a chance to expand our recurring income base, as well as build up our asset management capabilities in a growth segment,” he adds. “We will also be able to learn from leading aged care operators overseas to improve OV’s care and operational standards.”

A rapidly ageing population, Japan is projected to see its elderly population aged 65 years and above increase from 28% in 2017 – already the highest in the world – to 30% by 2025.

CEO of Bridge C Capital, Daizo Yokota, says: “Our corporate mission is to invest where we can also do social good. Japan’s population is rapidly ageing and the numbers are projected to grow even further. This partnership will enable us to create better elderly-friendly infrastructure.”

As at 12pm on Wednesday, shares in SPH are trading 2 cents higher, or up 0.9%, at $2.17.