Japan's New Horizon, Integral bullish on fundraising

According to Bloomberg, New Horizon may leave its fund open for another three months from June to meet demand from investors like Shinginko Tokyo and Kyoto Shinkin Bank, increasing the target to JPY20 billion ($198 million) from JPY15 billion.

The firm, which spun out from Pheonix Capital in 2006, targets mid-to-small cap buyout deals and has cumulative assets under management of JPY230 billion.

Integral, meanwhile, is closing in on its target of JPY30 billion for Fund II. Nobuo Sayama, a partner and representative director with the firm, said the fund, which was launched in May last year, has already received about JPY11 billion from at least one national bank, several regional lenders and pension funds.

Integral's first fund, which launched in September 2008, took around 18 months to reach a target of JPY1.2 billion.

More Japanese banks are said to be looking to commit to the asset class as a result of benefiting from Prime Minister Shinzo Abe's stimulus package which has seen the Topix index of Japanese shares climb 62% since last November.

The global buyout firms are also increasingly bullish on Japan. Carlyle is said to have launched its latest Japan-focused fund with a target of $2 billion, while KKR has added two new directors and a new country CEO, suggesting that Japan will be a key focus of its $6 billion pan-Asian fund.

According to AVCJ Research, Japan-focused buyout funds raised $402 million in 2012 compared to $298 million and $278 million in 2011 and 2010, respectively.

 

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• Topics
• North Asia
• Fundraising
• Buyout
• Japan
• buyout
• Integral Corp.
• New Horizon Capital
• Fundraising