The Tokyo-based firm said the newly appointed partners will provide wider diversity to the business, given Kashiyama’s track record as an operating team member and Ando’s experience in fund administration services.
J-STAR is currently investing from its second buyout vehicle, the 2012-vintage J-STAR No2 Investment Limited Partnership that raised JPY 20.4 billion ($173 million; €160 million). The fund’s investments include Osaka-based nursing care provider Platia, energy company ESCO, and insurance agency Sokisha Corporation.
Its first fund, 2006-vintage J-STAR No1 Investment Limited Partnership, raised JPY 12 billion and is fully invested.
AlpInvest Partners and Morgan Creek Capital Management are investors in J-STAR’s funds, according to PEI Research & Analytics.
Kashiyama was a former operating principal at the firm. He joined J-STAR in 2014 and has been involved in the firm’s portfolio companies, including plastic mould manufacturer Kugami Seiko Kogyo, auto parts company Tokai Trim, and image solutions company Primagest. Prior to joining J-STAR, Kashiyama was the founding chief executive officer of biotechnology company Bio Architecture Lab. Earlier in his career, he was a biotechnology and pharmaceuticals consultant at the Boston Consulting Group.
Ando has been with J-STAR since 2009, working on fund administration services. Before joining the firm, she was at Japan Real Estate Investment Trust. She had also worked as an auditor in accounting firm Ernst & Young.