Aspirant Group raises ¥50bn

The Japanese middle-market buyout firm hits the hard cap of its third fund.

Japanese manager Aspirant Group has hit the hard cap for its third fund, Aspirant Group III, at 50 billion yen ($460 million). The fund closed on October 31st after seven months in market. The target cap of the fund was not disclosed.

AG III will invest in Japanese middle-market companies, following the strategy of the manager’s prior fund, Aspirant Group II, which closed in March 2017 at 27 billion yen.

This new fundraise is the first fund of the series to raise money globally. Commitments to AG III came from European, US and Japanese investors, including pension plans, asset managers, family offices and other financial institutions.

Monument Group acted as the placement agent for the fund.