Private equity majors Blackstone and PAG have strengthened their PE teams in Japan by making senior hires.
PAG appoints co-heads for Japan PE team
Asia-focused private investment firm PAG has hired Koichi Ito and Yoichi Tamagawa as co-heads of its private equity business in Japan, effective on January 1.
The duo will lead PAG’s Tokyo-based private equity team as the firm continues to accelerate its investments in Japan.
“PAG expects to invest several billion dollars in Japanese companies in coming years, as long as opportunities present themselves (…) Japan is one of the world’s most important and vibrant economies, and one of the most attractive markets in Asia for private equity investment,” Tim Morrison, PAG’s spokesman, said in a statement.
Before joining PAG, Ito was managing director and head of investment banking and capital markets in Japan at Credit Suisse. His 30-year career also includes senior roles at SMBC Nikko Securities, Nomura Securities and Lehman Brothers.
Meanwhile, Tamagawa served as managing director and a member of the investment committee at private equity firm Marunouchi Capital prior to PAG.
PAG has been active in Japan for more than two decades, with investments in private equity, real estate and absolute return strategies. In private equity, PAG’s investments include theme park operator Universal Studios Japan, and safety equipment manufacturer Joyson Safety Systems.
Blackstone appoints senior advisor
Global asset manager Blackstone has appointed Eiichi Hasegawa as a senior advisor to its Japan team.
Hasegawa, who previously served as senior advisor to former Japanese prime minister Shinzo Abe, has assumed the role from January 1, according to a statement.
Hasegawa will advise Blackstone on Japan’s economic climate, investments and capital raising.
“His extensive networks will add significant value to building out our efforts, communicating with our limited partners, and contributing to our portfolio company operations,” commented Blackstone chairman and CEO Stephen A. Schwarzman.
Blackstone has been active in Japan for more than three decades, opening its Tokyo office in 2007. In 2020, the team invested more than $7.7 billion in the Asian country, led by Daisuke Kitta in real estate and Atsuhiko Sakamoto in private equity.
In addition, Blackstone Private Wealth Solutions, the firm’s answer to alternative investment solutions to a broader investor base, expanded its presence in Japan in the year.