Pramerica has bought Japanese asset manager Round Hill Capital Partners Kabushiki Kaisha as it continues its expansion into Asia.

Round Hill has acted as exclusive asset manager for Pramerica, the US investment arm of Prudential, since 2003, looking after its $1.5bn portfolio in Japan and Northern Asia.

Growth market

The company will be rebranded PREI Japan. The price of the acquisition was not disclosed.

‘As real estate markets and investor allocations have become significantly more global, Asia has become a more important part of PREI’s global growth strategy,' said Victoria Shigehira Sharpe, chief executive officer of Pramerica Real Estate Investors-Asia.

'We are delighted to welcome Round Hill to our team as our activity within Japan and Northern Asia continues to grow.’