Ares Management is securing a large amount of capital for a Japan logistics investment vehicle, raising about $4 billion, according to multiple reports. Seeking Alpha cites a record fundraising total of $3.8 billion, while Channel NewsAsia reports a $4 billion raise, describing it as the unit’s largest fundraise.

The fundraising is aimed at supporting logistics and related real-estate investments in Japan. Both outlets frame the effort as a major milestone for Ares’ Japan strategy and highlight the scale of the capital sought by the logistics fund.

Differences between the reports appear to center on the final reported figure and how it is characterized—Seeking Alpha emphasizes $3.8 billion as a record amount, while CNA rounds the figure to $4 billion and emphasizes that it is the unit’s largest fundraising. The articles do not provide contrasting details on investor composition, terms, or specific portfolio targets in the information provided.