Advantage Partners exits Japan's Kazaka Securities

The sale of the 100% stake in Kazaka Securities - a subsidiary of Kazaka Financial Group, with JPY300 billion ($3 billion) in client assets - will make Naito one of the largest medium-size brokerages in Japan. Naito currently has client assets worth around JPY350 billion.

Advantage bought Kazaka Financial Group - then Livedoor Financial Holdings - from Livedoor in December 2006 for JPY17.5 billion. The divestment was part of the internet company's corporate restructuring, which occurred in the wake of a securities fraud scandal that saw its stock plummet 90% in four months.

Another notable divestment made by Livedoor during this period was its sale of accounting software company Yayoi to South Korea's MBK Partners for $610 million. Yayoi had previously been a portfolio company of Advantage before it was sold to Livedoor for an undisclosed sum in 2004.

Advantage recently reached a final close on it latest vehicle - Advantage Partners IV-S. The JPY20 billion bridge fund will have a two-year investment period, which means the firm is likely to start marketing its next vehicle in 12-18 months.

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• Topics
• Exits
• North Asia
• Buyout
• Financials
• Japan
• Advantage Partners
• Exit
• Financial Services