Longreach makes first close on Japan-focused fund
The Longreach Group has completed the first close of its Japan-focused, Longreach Capital Partners 2, L.P., with initial commitments of $125 million made from the PE firm’s existing investors from its first fund as well as US foundations and endowments.
According to a statement, Longreach Capital Partners 2 is now working toward a final close of $750 million - equivalent to its first vehicle, Longreach Capital Partners 1. With this unchanged, the investment strategy for Longreach's second fund will principally include commitments made to Japanese companies and Japan-related companies in Greater China.
Mark Chiba, Longreach Group Chairman and Partner, said of the raise, "Together with our investors, including many prominent US investing institutions who share our confidence in the Japanese market, we will continue to invest wisely through our local strength combined with our global capabilities, delivered through an unwavering long term commitment on the ground here in Japan." Chiba made light of this commitment following the devastation following the March 11 earthquake that struck Japan's coast.
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