Cushman & Wakefield, the world’s largest privately-held real estate services firm, on Monday announced that it has acquired Pacific Investment Corporation, the private fund asset management subsidiary of Japanese real estate fund giant Pacific Holdings Group. With immediate effect, the firm will begin operations as Cushman & Wakefield Asset Management KK.

Pacific Investment Corporation was the asset management arm of Pacific Holdings, formerly the second largest investment firm in terms of assets under management in Tokyo, and currently manages about $2bn of assets totalling 4.73 million sq ft of office, retail and residential properties.

Times of India