(Bloomberg) -- Bain Capital has hired a former Goldman Sachs Group Inc. real estate executive in Japan as the US buyout fund accelerates investments in property assets across Asia.

Man Kinoshita, a former managing director at Goldman Sachs’s Japan office, has joined Bain as a Tokyo-based partner, according to a company representative. Kinoshita had previously been involved in asset management at Goldman.

Bain’s move comes as global investors rush to buy property assets in Japan due to the weak yen and cheap financing. The Bank of Japan is bucking the global trend for monetary tightening by sticking to its negative interest-rate policy.

Read More: Warburg Pincus Hires Goldman’s Murata for Asia Real Estate 

In the first half of 2023, commercial property investment volume in Japan increased 52% from a year earlier, while globally it fell 54%, according to Jones Lang LaSalle. Investors like Blackstone Inc. and Gaw Capital Partners are hunting for acquisitions across Japan in sectors like hotels and data centers. 

Goldman Sachs spokeswoman Hiroko Matsumoto confirmed Kinoshita had left the firm.

--With assistance from Lisa Du.

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