Bain Capital said to explore first buyout fund for Japan

Bain Capital is seeking to raise its first private equity fund focused solely on investing in Japan, the latest alternative asset manager to expand its push into the country.

The Boston-based firm has held early discussions with investors about the fund, which will focus on mid-sized Japanese companies, according to people with knowledge of the matter. Bain hasn’t set a fundraising target for the venture, said the people, who asked not to be named because the information is private.

Private equity firms are ramping up their investments in Japan, helped by negative interest rates and a push by Prime Minister Shinzo Abe to improve corporate governance. Carlyle Group LP started reaching out to investors this year for a fourth buyout fund focused on the country. KKR & Co.’s co-presidents have called Japan a top priority because it offers cheaper valuations than other countries.

Alex Stanton, an external spokesman for Bain, declined to comment.

Yuji Sugimoto, who co-heads Bain’s Asia private equity business, said last year that Japanese companies will need to look to deep-pocketed investors to turn around failing business units.

Bain has invested in Japan through its pan-Asia buyout funds. It completed some big deals in the country last year, including the purchase of Japan’s third-largest advertising company, Asatsu-DK Inc. It also led an investor group to buy Toshiba Corp.’s memory-chip business.

Bain has done middle-market deals in the country as well, including acquiring wind farm developer Japan Wind Development Co. Ltd and Yukiguni Maitake Co. Ltd., a mushroom producer.

Bloomberg

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.