Sparx Group Co. is setting up a fund that will invest in building hotels in Japan’s earthquake-devastated regions, Bloomberg reports. As part of the plan, the second biggest Asian hedge fund has tied up with Tokyo-based property firm Kachikaihatsu Co., operator of Best Western hotels in Japan. The property company will help Sparx build its first project in Natori in the Miyagi prefecture. Sparx has raised $14 million for the project, which is seeking to offer lodging for relief workers and volunteers following the March 11 disaster.
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