North Asia
Japan mid-market: Realignment issues
Competition is intensifying in certain segments of Japan’s middle market, driving up valuations. Private equity firms must consider how they position themselves to maximize deal flow
Tokio Marine exits Japanese machinery parts maker
Tokio Marine Capital has agreed to sell its entire stake in Tonichi Kosan, a Japanese manufacturer of parts used in construction and agricultural machinery, to machinery wholesaler Wakita & Co.
Orchestra buys Korean post-production business
Orchestra Private Equity, a GP that focuses on Korea-Japan cross-border transactions, has invested KRW61 billion ($56 million) for an 87% stake in Seoul Vision, a Korean post-production house for TV commercials.
Japan's Ezaki Glico buys chocolate company from US GP
Ezaki Glico, a Japanese food company that markets a number of branded snack products, has acquired a majority stake in chocolate maker TCHO from US growth and venture capital firm Emil Capital Partners.
Former Bain executives target $500m Japan fund
Two former principals with Bain Capital Private Equity in Japan have established their own country-focused firm – Nippon Investment Corporation (NIC) – and are seeking to raise a $500 million fund.
Ardian opens Japan office to capture local LP interest in alternatives
Ardian has opened an office in Tokyo - its third in Asia - with a view to capitalizing on growing demand for exposure to alternatives, including private equity, from Japanese institutional investors.
VIG buys Korean food wholesaler for $69m
VIG Partners has agreed to buy an 83.1% stake in Korean food wholesaler WinPlus for KRW74 billion ($69 million). The investment includes a primary capital injection of KRW45 billion.
CVC's Japan president to join Toshiba
Nobuaki Kurumatani, who has been president of CVC Capital Partners’ Japan operation for less than a year, is departing to become chairman and CEO of Toshiba Corporation.
Deal focus: CLSA likes the fit of Marubeni subsidiary
CLSA Capital Partners agrees to carve-out Marubeni's uniform business with a view to driving consolidation in an industry where Japanese corporate customers are already gravitating from ownership to rental
Monument hires ex-Bain IR executive in Japan
Placement agent Monument Group has appointed Kay Sano (pictured) as a representative director in its Tokyo office. She was previously a Japan-based vice president with Bain Capital Private Equity.
Japan Post: Stamp of approval
A newly launched private equity vehicle under the Japan Post brand is being hailed as a validation of the asset class domestically. It could be a critical juncture for the development of local technology markets
Deal focus: ACE secures industry 4.0 buyout
ACE Equity Partners buys control of Woojin Electric Machinery from SkyLake Investment for $200 million with a view to launching a China expansion strategy
VC holding periods: Delayed gratification
The traditional IPO exit timeline for early-stage investors is being pushed out as technology companies raise additional private funding rounds. A more thoughtful approach to securing liquidity is often required
VCs back $41m investment in Japan's WealthNavi
Japanese financial technology company WealthNavi has raised JPY4.5 billion ($41.3 million) through a combination of domestic venture capital funding and loans from financial institutions.
CLSA to buy rental subsidiary of Japan's Marubeni
CLSA Capital Partners (CLSA CP) has agreed to buy Marubeni Mates, a uniform rental business owned by Japanese conglomerate Marubeni Corporation, for an undisclosed sum.
ACE Equity buys Korean electric machinery maker
ACE Equity Partners, a Korean private equity firm established last year by former SkyLake Investment executive David Ko, has purchased a 100% interest in Woojin Electric Machinery for approximately $200 million.
Japan's Polaris to buy Fujitsu mobile phone unit
Japanese middle market GP Polaris Capital has agreed its second corporate carve-out in three months with a deal to buy Fujitsu’s mobile devices business.
Q&A: WisdomTree's Jesper Koll
Jesper Koll, head of Japan for WisdomTree Asset Management, summons 30 years of Japanese investment experience to predict a durable growth story where an aging population has its advantages
Japan Post entities form joint PE investment unit - update
Japan Post Bank and Japan Post Insurance have agreed to form a joint asset management company that will make direct private equity investments, mostly in partnership with GPs.
Spiral raises $64m for debut Japan VC fund
Japan-focused Spiral Ventures – known as IMJ Investment Partners until spinning out from its corporate parent last year – has closed its debut fund at JPY7 billion ($64 million).
Partners Group nets 3.2x on Japan Solar through Equis Energy sale
Partners Group has confirmed a 3.2x return on its investment in Japan Solar as part of a previously announced larger Asia energy acquisition by Global Investment Partners (GIP).
Affinity, BRV support Shinsegae e-commerce spin-out
Affinity Equity Partners and BRV Capital Management are supporting a spin-out of assets owned by South Korean retail conglomerate Shinsegae Group, which will see more than KRW1 trillion ($940 million) invested in a new e-commerce unit.
Atinum leads $9m round for Korean fintech player
Korean venture capital firm Atinum Investment has led a KRW10 billion ($9.4 million) funding round for domestic financial technology company Tera Funding.
Japan's UTEC raises fourth early-stage fund
University of Tokyo Edge Capital (UTEC) has raised JPY15.5 billion ($142 million) for its fourth fund intended to support the development of research conducted at the university into start-ups.