Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Jacob has 7 years of professional buy-side experience in real estate investment and listed equities.  Jacob worked as a portfolio manager/analyst in Global Listed Real Estate team in AMP Capital and Macquarie Asset Management.  Prior to that, Jacob has spent 5 years in APG asset management, in the listed real estate team.  As one of the largest RE funds in Asia, he co-managed EUR6bn investment portfolio with the team with a focus on Hong Kong and China property.  He led the USD200m cornerstone investment in Wanda Commercial Properties IPO (the largest mall operator and developer in China).  Prior to this, Jacob has 3 years of experience in investment banking in Bank of America Merrill Lynch, covering equity, debt and M&A transactions across real estate, consumer& retail and TMT sectors.  Jacob specializes in fundamental bottom up research.  Aside from work, Jacob has a personal interest in spirituality and personal development.  He practiced meditation and has published a book about meaning of life in 2016.

Listed Real Estate Asia

BOJ Reflation Alpha: Long Japan Hotel REIT, Short GLP J-REIT

8801: Mitsui Fudosan – the Largest Japan RE Developer – Let the Rally Continue

How Activist Firepower and the Sankei Benchmark Will Trigger a Massive Re-Rating of Mitsui Fudosan

Japan’s Trapped Value: How Activists and Private Equity Are Weaponizing TSE Mandates in Real Estate

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

<ul>
<li>Japan Post is monetizing a JPY 1.6 trillion portfolio, unlocking JPY 700bn in gains through private funds under activist pressure, creating a generational asset pipeline.</li>
<li>Mitsui Fudosan is uniquely positioned to dominate these mandates, expanding asset management fees and driving ROE toward 10% via aggressive share buybacks without balance sheet bloat.</li>
<li>Accelerated fund launches offer massive upside, while Bank of Japan rate shocks pose limited downside due to resilient fixed-rate corporate debt and robust Tokyo office rental growth.</li>
</ul>


Japan Post is monetizing a JPY 1.6 trillion portfolio, unlocking JPY 700bn in gains through private funds under activist pressure, creating a generational asset pipeline.
Mitsui Fudosan is uniquely positioned to dominate these mandates, expanding asset management fees and driving ROE toward 10% via aggressive share buybacks without balance sheet bloat.
Accelerated fund launches offer massive upside, while Bank of Japan rate shocks pose limited downside due to resilient fixed-rate corporate debt and robust Tokyo office rental growth.


USD 10bn Catalyst: Japan Post’s Mega-Monetisation & Mitsui Fudosan's Ascension