Japanese investment firm Nippon Sangyo Suishin Kiko (NSSK), founded by former members of US private equity company TPG Capital, has raised $300 million for its second fund NSSK II (Intl) Investment, according to a report in Private Equity International citing sources.
The investors which participated in NSSK II are North American, European as well as new Japanese LPs, the report said. While first fund NSSK I was entirely raised from Japanese investors.
The new fund will back retail, consumer, healthcare and hospitality companies in Japan and also targeting global expansion. It is a yen-denominated fund with a target size of 63 billion yen ($539 million) according to a SEC filing in September 2016.
Started in 2014 by Jun Tsusaka, Aki Ishida, Nobuhiko Ito, Kaz Tokuyama and Kenju Watanabe, NSSK focuses on proprietary investments in regionally-focused firms and private companies with succession issues. Its investment strategy is to generate superior returns by applying global investment discipline, operating expertise and human capital to the attractive SME market in Japan.
It had announced its first investment in December 2014 when it invested Mie-prefecture based US.Mart Corporation.
Most recently, it backed SC Holdings Co Ltd, a leading operator of nursing homes and assisted-living facilities for seniors with a primary presence in the Greater Kanto area of Japan.