Japan's J-Star completes final exit from debut fund
J-Star has exited the last portfolio company in its debut fund, selling Taiheiyo Seiki Holding – a manufacturer of parts for construction machinery – to a subsidiary of Takitai Group for around $28 million.
The investment, made in March 2011, has delivered a gross multiple of 7x and a gross IRR of more than 30%, according to a source familiar with the situation. The exit brings the multiple for J-Star No.1,...
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