<article>Japanese private equity investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/j-star" target="_blank" rel="noopener noreferrer">J-Star </a>has closed its third fund at ¥32.5 billion ($290 million), exceeding its ¥30 billion ($267 million) target and reaching the aggregate fundraising hardcap.</article>

Japanese private equity investor <a style="color: #000080;" href="http://dealstreetasia.com/tag/j-star" target="_blank" rel="noopener noreferrer">J-Star </a>has closed its third fund at ¥32.5 billion ($290 million), exceeding its ¥30 billion ($267 million) target and reaching the aggregate fundraising hardcap.
The J-STAR No. 3 SS, LP, J-STAR No.3 GF, LP, J-STAR No.3 JC, LP, and J-STAR No.3 JF, LP., collectively known as the  &#8220;J-STAR No.3 Funds&#8221;, were launched in September 2016, and reached the final close after seven months of presence in the market.
Investors in the J-STAR No. 3 Funds included leading global funds of funds, asset managers, public and corporate pension plans, financial institutions, banks, and family offices, the Tokyo-based investment firm said in a release.
The new fund is a predecessor to the second fund, which was launched four years ago and closed at around $119 million.
J-Star, which targets mid- to small-sized Japanese companies with cheque sizes ranging between JPY1 billion and JPY3 billion, has already begun investing from this latest fund.
It recently acquired 100 per cent of shares, excluding treasury stock, of pet services firm Fuji Field Co., Ltd. The deal was conducted through its portfolio firm JVCC, which is part of J-STAR No.3 SS, LP.
&#8220;J-STAR&#8217;s areas of focus &#8211; including supporting business succession and business consolidation plays in Japan &#8211; remain an area of high demand among Japanese lower middle market companies, and we look forward to continuing to work with very talented executives to help grow their businesses,&#8221; said the firm.
J-STAR Jersey Company was the adviser to the firm and provided services, including the sourcing research, evaluation, due diligence, structuring, financing, monitoring, and fund administrations, for the J-STAR No. 3 Funds.
Evercore Private Funds Group served as exclusive global placement agent for the J-STAR No. 3 Funds. Simpson Thacher &amp; Bartlett LLP served as U.S. legal counsel, Baker &amp; McKenzie (Gaikokuho Joint Enterprise) served as Japan legal counsel, and KPMG served as the Japan tax adviser.
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J-Star closed its third fund at ¥32.5 billion ($290 million), exceeding its ¥30 billion ($267m) target and reaching the fundraising hardcap.

Japan: PE firm J-Star exceeds third fund target, closes at $290m hardcap

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Japan: PE firm J-Star exceeds third fund target, closes at $290m hardcap

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