because the object takes long to initialize

Why is that? Are you trying to hold something that is not possibly serialized, and better not shared across threads, like a database handle, or is it just a very complex data structure?

If it's the former: don't do that. If it's a database handle, you might be able to make good use of a connection pool, see Apache::DBI.

If it's the latter, you might be successful in trying to use Memcached to temporarily hold the serialized (with Storable) object in memory, instead of saving it to a file. There are some good modules to interface to it, like Cache::Memcached (Pure Perl) and Cache::Memcached::Fast (XS). Note that Memcached may trow data away if it's running short on memory, so be prepared to recreate the object, if necessary.