Fortress is lead investor for Pure Salmon Japan’s $180m funding round

Pure Salmon Japan has announced the successful closing of a preferred note investment of over US $180m (£135m), led by funds managed by affiliates of Fortress Investment Group, with participation from Tor Investment Management, an existing investor in the project. The transaction completes the preferred note financing for the project, which is already under construction.

Pure Salmon Japan (formerly trading as Soul of Japan) is building what it says will be a state-of-the-art recirculating aquaculture system (RAS) facility in Mie prefecture, designed to deliver high-quality, sustainable Atlantic salmon locally in Japan.

With its target production of 10,000 tonnes, the facility will become the largest land-based salmon farm in the country. Pure Salmon said the project will meet growing domestic demand for premium seafood while strengthening national food security and reducing reliance on imports through stable, locally produced supply of salmon.

Pier Paolo Sfara, Chief Investment Officer at Singapore-based 8F Asset Management, which owns the Pure Salmon platform globally, said: “We are very pleased to complete this financing and to partner with Fortress on Pure Salmon Japan. Fortress brings not only strong institutional capital but also deep experience investing across global markets, including Japan. Their involvement represents another important step forward for the project and reflects strong confidence in our platform. With construction well underway, we are focused on delivering a world-class facility for the Japanese market.”

Stephane Farouze, Founder and Chairman of 8F Asset Management and Pure Salmon, commented: “Pure Salmon Japan is a key project within our global Pure Salmon platform. We are building a network of large-scale, land-based aquaculture facilities to sustainably produce high-quality salmon close to end consumers. Japan is a strategically important market, and this project reflects our long-term commitment to developing resilient, local food production systems.”

Eric Golden, Co-Head of Asia and Co-Head of Japan Real Estate at Fortress Investment Group, said: “Fortress has a long and significant history in Japan… we are pleased to partner with 8F to develop the largest fully domestically produced salmon facility in Japan - and one of the most environmentally sustainable in the world. This facility will provide critical food production infrastructure for Japan’s future.”