Pure Salmon Japan (formerly Soul of Japan), a portfolio company of 8F Asset Management, has secured more than USD 180 million in financing led by funds managed by affiliates of Fortress Investment Group, with participation from existing investor Tor Investment Management.
The financing supports the continued development of Pure Salmon Japan’s land-based recirculating aquaculture system (RAS) facility in Mie Prefecture, where construction is already well underway. Once completed, the project is expected to become the largest land-based salmon farming facility in Japan, with an annual production target of 10,000 tonnes of Atlantic salmon.
USD 180 Million to Support Construction
The transaction completes the preferred note financing for the project. In addition, it marks a significant milestone in the development of one of the world’s most ambitious land-based aquaculture facilities.
Furthermore, the investment brings together institutional capital and regional market expertise to support the project’s long-term development.
“This financing marks an important milestone for Pure Salmon Japan and reflects strong confidence in the project. Fortress brings both substantial institutional capital and deep experience from the Japanese market. With construction progressing well, we remain focused on delivering a world-class facility for Japan.”
– Pier Paolo Sfara, Chief Investment Officer at 8F Asset Management.
Japan’s Largest Land-Based Salmon Facility
Pure Salmon Japan is developing a modern RAS facility in Japan. The facility will produce high-quality Atlantic salmon locally.With a target production of 10,000 tonnes annually, the facility will become the country’s largest land-based salmon farm.
The project will strengthen domestic seafood production through stable, locally produced salmon. In addition, it will reduce dependence on imports and support Japan’s food security ambitions. By using advanced RAS technology, the facility aims to deliver efficient and environmentally responsible salmon production close to key consumer markets.
“Pure Salmon Japan is a key part of our global Pure Salmon platform.“Our ambition is to build large-scale land-based aquaculture facilities that sustainably produce high-quality salmon close to consumers. Japan is a strategically important market, and this project reflects our long-term commitment to resilient local food production.”
– Stephane Farouze, Founder and Chairman of 8F Asset Management and Pure Salmon
Continued Investor Confidence in Sustainable Aquaculture
“Fortress has a long and significant history in Japan, supporting major hospitality, residential and retail developments across the country. We are pleased to partner with 8F on what will become Japan’s largest fully domestically produced salmon facility and one of the most environmentally sustainable aquaculture projects in the world”
– Eric Golden, Co-Head of Asia and Co-Head of Japan Real Estate at Fortress Investment Group.
“Having supported this project from an early stage, we are pleased to see the financing completed and to partner with Fortress on this next phase. The project is expected to become one of the world’s most significant land-based salmon production facilities”
– Sean Pepper, Managing Director at Tor Investment Management.
“We are encouraged by the strong support shown by our investors.Their commitment highlights the strategic importance of the project. At the same time, it reflects the growing relevance of sustainable domestic seafood production in Japan.”
– Erol Emed, CEO of Pure Salmon Japan
Supporting Long-Term Seafood Production in Japan
The financing will support continued construction and development of the facility as the project moves toward operations. Once completed, Pure Salmon Japan will become one of the world’s most advanced land-based salmon farming facilities. In addition, the project will contribute to a more resilient seafood supply chain in Japan.