King Street and Tor Investment Management Provide $110 Million Financing to Soul of Japan

NEW YORK and HONG KONG, Feb. 6, 2025 /PRNewswire/ -- King Street Capital Management ("King Street"), a leading global alternative investment firm, and Tor Investment Management ("Tor"), a leading independent alternative credit manager in Asia, today announced a $110 million financing solution for Soul of Japan ("SOJ"), a 10KT land-based Atlantic salmon farm project in Tsu City, Japan. SOJ is backed by 8F Asset Management ("8F"), an impact-focused private equity firm.

The financing will support the ongoing construction of the SOJ farm and the ultimate completion of the project, which commenced in 2023 and is progressing, with the first harvest expected in mid-2027. King Street and Tor's financing is underpinned by strong aquaculture market demand, particularly as wild fish stock levels continue to decline. Once the project is completed, SOJ will operate a state-of-the-art recirculating aquaculture system and be the largest land-based facility in Asia, effectively establishing a locally produced supply of Atlantic salmon for a market that has traditionally relied exclusively on imported product.

"We are excited to partner with both the Tor and SOJ teams to support the growing demand for sustainably sourced, high-quality Atlantic salmon to the Japanese market and beyond," said Zachary Lewis, Managing Director at King Street. "This underscores King Street's global ability to leverage deep sponsor relationships and sourcing channels to provide compelling risk-adjusted special situations financings in our Global Drawdown Strategy."

"Tor is proud to collaborate with King Street and SOJ on funding for this significant project in Japan, which will continue the regional growth of critical infrastructure, developing the supply of sustainable protein with efficient use of resources," said Sean Pepper, Managing Director at Tor.  "This transaction demonstrates our ability to source and structure flexible private debt solutions for quality sponsors under our Tor Asia Credit Opportunity Fund platform with attractive returns and meaningful downside protection."

"We are thrilled to partner with King Street and Tor to continue growing Soul of Japan and to complete the construction of its land-based salmon farm project in Japan," said Karim Ghannam, Co-Founder and Chief Investment Officer at 8F. "This transaction is another validation of our strategy and its advanced implementation. We look forward to working with both King Street and Tor to supply Japan with locally produced Atlantic salmon and to further the expansion of Pure Salmon globally."

About King Street Capital Management
King Street is a global alternative investment firm founded in 1995 that manages more than $27 billion in assets across public and private markets. The firm marries rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify dislocations and mispriced investment opportunities across asset classes, up and down the capital structure.

King Street's Global Drawdown Strategy focuses on special situations and idiosyncratic, complex and process-driven investment opportunities that require exceptional sourcing capabilities and extensive legal and analytical skills. This includes investments across corporates, asset-backed and structured credit, and claims and retailed investments.

For more information, please visit www.kingstreet.com. Follow King Street Capital Management on LinkedIn.

About Tor Investment Management
Tor Investment Management is a leading independent alternative credit manager with $2 billion under management, investing in corporate and real estate financings across Asia-Pacific. The firm manages evergreen funds, closed-end funds, and co-investments for its investor base, including pension funds, sovereign wealth funds, endowments, foundations, and family offices.

The Tor Asia Credit Opportunity Fund strategy focuses on secured private lending and opportunistic distressed investments across Asia-Pacific with an experienced investment team who have the ability to source and structure deals directly from extensive networks across the region.

About Soul of Japan
Established in 2018, Soul of Japan is focused on advancing salmon aquaculture in Japan. The Soul of Japan will drive economic revitalization in Mie Prefecture and contribute to Japan's food self-sufficiency, while addressing environmental and social issues through sustainable practices like reducing environmental impact and promoting local production and consumption. For more information on Soul of Japan, please visit: https://soulofjapan.co.jp/ (in Japanese).

About 8F Asset Management
8F Asset Management Pte. Ltd. is a regulated investment manager focused on sustainable and impact investing with group offices in Singapore, Hong Kong, Frankfurt and Abu Dhabi. It manages private equity funds that invest in vertically integrated aquaculture production and processing facilities, using land-based sustainable Recirculating Aquaculture System (RAS) technology, creating positive social and environmental impact. For more information on 8F Asset Management, please visit: www.8f-am.com

Media Contacts

King Street Capital Management
Prosek Partners
[email protected]

Tor Investment Management
[email protected]

Soul of Japan
[email protected]

8F Asset Management
[email protected]

SOURCE King Street Capital Management