Profile
Through experience at a property lease management company serving real estate funds and at a real estate brokerage and investment firm in New York, Y. R. developed a strong interest in real estate fund management and decided to pursue a new challenge at KJRM. After joining KJRM, he leveraged his background in sales while deepening his expertise in the middle and back office. In 2022, he was selected as a founding member of the private fund team (now KJRM Private Solutions). Through the ongoing management of newly acquired properties, he has contributed to the expansion of assets under management (AUM) and continues to witness the rapid growth of the private fund business firsthand.
Department
Asset Management
KJRM Private Solutions
KJRM Private Solutions
Originating from the Private Solutions Division of KJR Management, KJRM Private Solutions began operations in October 2025 as a dedicated asset management company specializing in KJRM’s private funds. Professionals from diverse backgrounds work together as “One Team,” challenging themselves to structure and manage private funds while steadily building a strong presence in Japan’s alternative asset management market.
Leveraging Sales Experience in the Real Estate Industry
for Fund Management
In my previous roles, I was primarily engaged in sourcing property management mandates for real estate fund assets in the Tokyo metropolitan area. In New York, I handled acquisitions and asset management of income-generating properties for both institutional and individual investors. Over time, I became increasingly motivated to move beyond partial involvement and take on a more direct and hands-on role in managing real estate funds to create value at the fund level.
After joining KJRM, I began by supporting the sales team from the middle and back office. What impressed me most was the high level of expertise among team members. Rather than simply providing administrative support, the middle and back office proactively offers opinions to front-office teams, addresses issues where necessary and works closely with the business teams. Given my years of experience in sales, I found it natural to adopt the mindset expected in KJRM’s middle and back office: applying specialized expertise while maintaining awareness of external stakeholders.
Engaging in Thorough Discussions
in a Flat Organizational Culture
When incorporating new assets into a listed REIT, it is essential to properly assess growth potential and risks of the properties. As I relearned these evaluation methods, I also developed expertise in operational support required during the asset management phase. I obtained the ARES Certified Master qualification from the Association for Real Estate Securitization (ARES), which many colleagues also hold.
What I found especially valuable for middle- and back-office operations was KJRM’s open culture. Regardless of tenure or position, we can engage in substantive discussions with anyone across the organization. Because my previous experience focused on physical real estate, I initially had limited knowledge of real estate as a financial product and needed to deepen my understanding of the Financial Instruments and Exchange Act. In financial products, even minor compliance issues can impact corporate management. Being able to consult highly specialized supervisors and colleagues—discussing even small questions until fully satisfied—was extremely reassuring as I learn my job with a strong sense of responsibility.
Launching a Private Fund Team with Four Members
Expanding the Business as the Team Grows
In April 2022, with sponsorship from KKR, a U.S.-based private equity fund management firm, our business scope expanded significantly. A new team was formed to structure and manage unlisted private funds backed by global real estate funds managed by KKR and its portfolio companies. At launch, there were only four of us.
Although I was finally involved in fund management, the work was far more intensive than I had imagined. Beyond overseeing ongoing operations of properties managed by KKR’s funds, we worked on acquisition and ongoing management of properties based on asset-light strategies of portfolio companies under KKR’s private equity platform. As part of the initiative, we also spent about a year leading the rebranding of a nationwide hotel chain in which KKR participated in the management—transitioning its operations to an international brand while executing building renovations as well as improving operations such as customer attraction and guest services. Having colleagues with deep hotel asset expertise was invaluable. Through close collaboration in sharing information and frequent site visits across Japan, we successfully completed the rebranding initiative.
As the business has grown, so has the team—now approximately 20 members strong. Professionals in real estate, finance, legal and accounting have joined from diverse career backgrounds, and each maximizes their potential in daily operations.
Refining Real Assets from a Position Close to Investors
There are two major attractions to working in private fund management.
First, our efforts directly determine how much we can maximize a property’s potential. By visiting properties in person and implementing renovations—modifying layouts or upgrading facilities—we can enhance real estate value and generate new revenue streams.
Second, because private funds are unlisted and have a limited number of investors, we can see the faces of those we serve. Building new cross-border structures to attract overseas investors offers significant learning opportunities, and we are able to formulate and execute strategies we believe are optimal for each investor.
In that sense, our mission statement—“Unlocking Real Assets’ Future”—perfectly reflects the work we do every day.
Continuing to Strengthen
KJRM’s Presence
in the Private Fund Market
Today, we are not only structuring funds backed by real estate funds managed by KKR and its portfolio companies, but also acquiring properties through our own channels to structure and manage private funds.
Thanks to the team members’ efforts, we have steadily exceeded our targets for assets under management (AUM). As a result, KJRM’s presence has grown significantly—not only within the REIT industry, but also in the private fund industry. Within the team, we often say, “The numbers are unbelievable—but next year, we must aim even higher.”
As the private fund team enters a growth phase, there is positive energy throughout the organization. Although we have grown in size, we remain a small but elite team relative to the scale of AUM. Continued collaboration for asset management will be essential going forward.
Personally, I aim to continue accumulating experience in the ongoing management of large-scale assets and to leverage the experience and knowledge gained through collaboration with team members to its fullest extent.
The employee’s department and interview content are as of the time of the interview.
