Japan's New Horizon expects $560 million for second fund
New Horizon Capital, a Tokyo-based private equity firm, plans to raise up to JPY50 billion ($560 million) for its second fund, also saying that it expects a first closing in 3Q10 of around JPY12 billion ($135 million).
The firm seeks to raise the remainder of its target total by March next year. New Horizon was spun off from Phoenix Capital, the turnaround-focused private equity firm, by Yasushi Ando in 2006. So far, the firm has made one investment in 2007, taking around 86% of Hitachi Housetec, a maker of kitchen systems, water softeners and other home equipment, from Hitachi Chemical Co, for JPY15.1 billion ($170 million).
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