VERMILION CAPITAL MANAGEMENT LIMITED

Vermilion Capital Management (VCM) Ltd. is a Japanese real estate asset management firm established in 2001. In 2017, they joined with Hoosiers Group, a publicly listed residential developer of build-to-sell multi-family. VCM is a member of Japan Investment Advisers Association and Authorized Financial Instruments Firms Association, with Type II Financial Instruments Business license, General Real Estate Investment Advisory Business license, and Real Estate Brokerage license. Its current AUM is approximately 18.68 Billion JPY, which is residential and healthcare, resorts condo focused tailormade fund established by investors request. Experienced in Closed-End Fund management with a REIT or other private fund exit, VCM has high capabilities of providing multi-family asset management services through its expertise in fund structuring, operation, reporting, and advisory functions, while having Hoosiers' technical and business expertise in condominium development.