Secured Capital, a real estate investment management company, has raised $535m from international investors to invest in the Japanese property market in a sign of renewed appetite for real-estate opportunities in the world’s second-largest economy.

Secured Capital Japan, which has Y600bn ($6.3bn, £3.8bn) in assets under management, said its fourth Japanese real-estate fund could allocate 25 per cent of its funds to distressed debt in Japan and up to 30 per cent for other Asian markets.