CVC bolsters Japan team

The firm has hired Nobuaki Kurumatani, a former deputy president of Sumitomo Mitsui, as president of Japan, as the firm scales up investments in the country.

CVC Capital Partners has appointed ex-deputy president of Sumitomo Mitsui Financial Group, Nobuaki Kurumatani, as the firm’s president of Japan as of 1st May.

Kurumatani joins CVC only a few weeks after the firm appointed Yoshiaki Fujimori, previously chief executive of materials and housing equipment manufacturer LIXIL Corporation, as a senior executive advisor of Japan.

Together with Fujimori, Kurumatani will based in Tokyo and will join a team of eight investment professionals. His new position will see him find the “right opportunities [in Japan] to make good businesses into great businesses,” Kurumatani said in a statement.

Steve Koltes, co-chairman of CVC, said: “We are very pleased that Nobuaki has agreed to join CVC. His depth of experience and insight at the highest levels in Japan and abroad will serve us well as we look to accelerate investment activity in Japan and the region.”

Kurumatani joins CVC from Sumitomo Mitsui Financial Group, one of the largest financial institutions in Japan, where he was most recently deputy president and board director.

CVC entered Japan in 2000 and has since made investments in eight companies. The firm’s current portfolio includes senior home provider Hasegawa Holdings, which it bought for around $315 million in September last year and telecommunications carrier Arteria Networks, which it bought for $150 million. Both investments were structured through pan-Asia buyout fund CVC Asia Pacific IV, which raised $3.5 billion in 2014.

The firm also 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, according to CVC’s website.