Japan’s Mizuho plans to acquire US-based private equity agent Capstone

The Mizuho Financial Group Inc. headquarters, center right, stands at dusk in this photograph taken with a fish-eye lens in Tokyo, Japan, on Friday, April 21, 2017. Photographer: Tomohiro Ohsumi/Bloomberg

Mizuho Financial Group plans to acquire the US private equity placement agent Capstone Partners, a person familiar with the matter said, as the Japanese lender looks to beef up its investment banking business.

Dallas, Texas-based Capstone helps private equity firms find limited partners to invest in their funds, helping raise capital for global private equity, credit, and infrastructure firms.

Following the acquisition, Capstone will come under Mizuho‘s holding company in the United States, where it is expected to help build out the Japanese bank’s investment banking business, the person said, declining to be identified because the information has not been made public.

Mizuho does not plan to disclose the cost of the acquisition, the person added.

No one was immediately available for comment at Capstone’s Dallas office outside normal working hours.

Mizuho, which has struggled at home to overcome a long-running series of system errors, is set to appoint senior executive officer Masahiro Kihara as its next chief executive to tackle the issue.

The Capstone purchase is in line with efforts by Japan’s biggest banks to acquire more businesses overseas, particularly in faster-growing markets.

Of the three megabanks, Mizuho has, however, been slower to move than bigger rivals Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group.

The news was earlier reported by the Nikkei business daily.

Reuters

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.

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.