NU Online News Service, March 8, 2004, 1:22 p.m. EST – Pacific Life Insurance Company, Newport Beach, Calif., is helping to back a new Japanese real estate investment fund.[@@]

Secured Capital Japan, Tokyo, says it will be using capital from Pacific Life, the California Public Employees’ Retirement System and other institutional investors to invest more than $500 million in apartments, office buildings, retail buildings and industrial facilities in Japan.

Secured Capital reports it manages about $1.5 billion in investments in institutional properties in Japan and about $14 billion in investments in Japanese mortgage loans.