ESR Group's co-founders and co-CEOs, Stuart Gibson and Jeffrey Shen, called the rating a “big milestone” for the group.
“The JCR rating further validates our asset light business model and the strong secular trends that underpin our growth,” they say.
“Our financial discipline which is highlighted by our robust balance sheet and our continuous and active capital recycling are key features of our approach to running a best-in-class fund management business. We expect this investment grade rating to allow us to deepen and diversify our funding channels,” they add.
As at June 30, 2022, the group has assets under management (AUM) of US$32 billion ($43.09 billion) in Japan and approximately 4.5 million sqm of gross floor area (GFA).
Shares in ESR Group closed 46 HK cents higher or 3.43% up at HK$13.86 ($2.38) on the HKEx on March 3.
