CLSA closes $210m Japan fund

The firm has raised capital from a global investor base for its second vehicle in the country

Hong Kong-based CLSA Capital Partners has raised its second offering in Japan, collecting $210 million in commitments from LPs globally, according to a statement. The firm counts among its investors institutions from the US, Europe and Japan.

The fund, Sunrise Capital II, focuses on buyout opportunities in Japan’s small- and medium-sized enterprise sector, acquiring companies with enterprise values of up to JPY 15 billion ($130 million; €105 million) across a range of sectors.

Sunrise II has so far invested in two companies, which are experiencing robust growth, according to the firm, including a used-car auction operator and an IT consulting firm.

The fund plans to add five to six more companies to its portfolio over the next few years and is “currently pursuing a number of attractive opportunities”, the statement said.

CLSA invests in Asia Pacific across a number of vehicles focused on different segments in the market.

Currently, funds under management include ARIA Investment Partners, a pan-Asian private equity fund providing growth and expansion capital to Asian mid-market companies, Fudo Capital, a pan-Asian real estate fund, Clean Resources Asia Growth Fund, investing in Asia's clean resources, and Pacific Transportation, a pan-Asian transportation private equity fund.

In July, the firm also launched a new private equity vehicle to focus on the Korean market, targeting KRW 300 billion ($295 million; €217 million), Private Equity International reported earlier.

The fund will be co-managed by Korea-based Calix Investment Company, and has been formed in partnership with Korean tire conglomerates Nexen Corporation and Nexen Tire Corporation. The Nexen Global Co-Investment Fund has received cornerstone backing from Korea’s National Pension Service, one of Korea’s largest private equity investors with over $400 billion in assets under management.