Advantage Partners, a Japanese buyout specialist, launched its first real estate platform last month and now plans to more than double assets under management to over $6.5 billion. The firm currently manages approximately $3 billion, according to a May 5 presentation by Pinnacle Investment Management at the Macquarie Australia Conference in Sydney.

The real estate arm will focus on corporate-owned property opportunities, a niche that could help differentiate Advantage in Japan's fragmented market. This represents a notable shift for the firm, which has historically focused on private equity buyouts. Corporate-owned real estate in Japan presents growing opportunities as companies reassess their property holdings and seek to monetize non-core assets.

The expansion positions Advantage to capture demand from Japanese corporations looking to optimize their balance sheets through strategic property sales. The firm joins a growing list of private equity players betting on corporate real estate transactions in the region.