Sunrise Capital III, a Japan-focused fund of pan-Asia investment firm CLSA Capital Partners, has acquired a majority stake in Tokyo-based specialist management and IT consulting firm Rise Consulting Group, according to a statement on December 28.
Founded in 2012, Rise Consulting offers services in the areas of business development and transformation, M&A and overseas expansion. Rise has approximately 100 consultants with plans to grow the practice further.
There will be no material changes to Rise Consulting Group’s business operations, the asset manager added.
CLSA Capital Partners anticipates that demand for consulting services will continue to increase as a result of the COVID-19 pandemic, while “resources remain limited across Japan.”
“This imbalance creates growth opportunities for solution providers with expertise in cutting-edge technology,” it said.
Sunrise Capital is a Japan-dedicated private equity mandate of CLSA Capital Partners, seeking opportunities in the mid-cap buyout sector. The strategy has raised about $1.5 billion to date and completed investments in approximately 30 companies including both standalone and follow-on investments since its establishment in 2006.
Sunrise III was closed at $400 million in 2017, followed by a fourth vehicle closed at $450 million in September last year. Meanwhile, the second Sunrise Capital fund recently exited outsourcing services company Qit Co after a three-year holding period.