Anthony Miller,a private equity manager in Asia over the past two decades, will now be mining for gems among distressed assets in Japan for Hong Kongbased Pacific Alliance Group. In June the Chicago native assumed the post of president and CEO at Pacific Alliances new Japan subsidiary. Hell be investing up to $200 million in real estate and distressed assets in the coming 12 months, and as much as $1 billion over five years.
"Many institutional investors invested in Japan, and many are leaving," notes Miller, 52. "The most attractive [plays are] real estate and distressed real estate." Miller was president of the RCG Japan unit of New Yorkbased multistrategy hedge fund firm Ramius before joining Pacific Alliance, which has $3 billion in assets spread among hedge funds, private equity and real estate (see "West Meets East").