CVC appoints Sumitomo Mitsui executive as Japan president

Kurumatani has held various positions at Sumitomo and its subsidiaries, most recently serving as deputy president and board director. His appointment is expected to provide the firm with needed experience and understanding as it grows its exposure to Japan, according to a release, and follows the arrival at CVC last month of former Lixil Group CEO Yoshiaki Fujimori as CVC’s senior executive advisor for Japan.

CVC has historically made few commitments in Japan, with AVCJ Research showing one investment every two years since 2012 and none between then and 2006. Its most recent deal in the country was last year’s purchase of a majority stake in assisted living, nursery school and cleaning services provider Hasegawa Holdings for an undisclosed amount.

The GP is currently investing its fourth pan-Asian fund, which closed at $3.5 billion in 2014. The vehicle invests in businesses that benefit from increased consumer affluence and domestic demand in Greater China, Southeast Asia and Japan and Korea.

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