Hastings and SMTB have also reached first close on two co-managed funds, one targeting investment in junior European infrastructure debt and the other in senior European debt opportunities. The current total targeted commitment for both debt funds is JPY25 billion (US$210 million).
"We are very pleased to have established an investment relationship with such a major and well-respected partner in the Japanese market. Both partners want to develop this relationship beyond the current investment partnership arrangement, at some point in the future.
According to Mr Day, the relationship with SMTB marked another important milestone in Hastings' successful and rapid extension of its "Asian footprint" via arrangements with partners in China, Korea, India and now Japan.Hastings Funds Management reported in a statement:
"The two debt deals follow Hastings' recent signing of a Strategic Partnership Agreement with Hong Kong-headquartered China Merchants Investment Development Company Limited (CMID) in Canberra earlier this month."