CVC appoints senior advisor in Japan

Former General Electric CEO Yoshiaki Fujimori will join the London-headquartered firm as it ramps up investments in Japan.

CVC Capital Partners has appointed Yoshiaki Fujimori as the firm’s first-ever senior advisor in Japan as it pursues more buyouts in the country.

Fujimori will be based in the firm’s Tokyo office and will join a team of eight investment professionals. His role will see him advise CVC’s portfolio companies and deal teams, according to a statement from the firm.

Fujimori was previously chief executive of materials and housing equipment manufacturer LIXIL Corporation. He was also a former chairman and CEO of General Electric Japan. He currently serves on the boards of Tokyo Electric Power Company, Takeda Pharmaceuticals and Boston Scientific.

Steve Koltes, co-chairman of CVC, said: “Yoshiaki brings a wealth of knowledge about the Japanese market and will provide us with expert insight given his network of contacts in the region. I am confident that his counsel will greatly help us as we continue to expand our local presence and look for investments across Japan.”

CVC’s portfolio companies in Japan include telecommunications carrier Arteria Networks, in which it bought a 50 percent interest in 2014 for $150 million, and senior home provider Hasegawa Holdings, which the firm bought for around $315 million in September last year.

The firm previously held stakes in scaffolding company Shinwa, pharmaceutical products company Show Yakuhin Kako and restaurant chain Skylark, music retailer Tower Records, and engineering staffing company TechnoPro, CVC said on its website.

Along with CVC, global private firms that have been actively investing in Japan include KKR, which recently closed two corporate carve-outs worth nearly $6 billion, The Carlyle Group, and Bain Capital Private Equity.

CVC manages over $70 billion of assets in private equity and credit funds.The firm is currently investing CVC Asia Pacific IV, a $3.5 billion fund raised in 2014. CVC is also in market with its latest flagship fund, CVC Capital Partners VII, which has a $14 billion target.