Hiroshi Nakamura, managing director of Oaktree Japan, will resign by the middle of this year, according to a person familiar with the situation.
No replacement will be made, the person said, who asked not to be identified because the information is private. Charlotte Bilney, a Hong Kong-based spokeswoman for Oaktree at public relations company Citigate Dewe Rogerson, declined to comment.
Oaktree owns 45 percent of Japan Rental Housing Investments Inc. (8986) through AppleRingo Holdings BV and Ringo Residential, according to a filing to Japan’s Ministry of Finance. The REIT, which manages 177 apartments with 9,924 units throughout Japan, gained 83 percent in the past six months.
Oaktree Japan is a unit of Los Angeles-based Oaktree Capital Management LP, which managed $77.1 billion as of Dec. 31, 2012.
To contact the reporters on this story: Kathleen Chu in Tokyo at firstname.lastname@example.org; Katsuyo Kuwako in Tokyo at email@example.com
To contact the editor responsible for this story: Andreea Papuc at firstname.lastname@example.org