Tomoya Shiraishi has left the global buyout firm Permira Advisers’ Japan operations. The former co-head of the Tokyo office is “taking some time off to pursue his own personal interests”.
Alex Emery, previously co-head alongside Shiraishi, has taken on the role of head of Permira Advisers. “As co-heads, our responsibilities were shared, so the move to a single head does not affect Permira’s approach to the Japanese market,” Emery said in an interview.
After Shiraishi’s departure at the end of 2008, Permira has six investment professionals in Tokyo. The firm had hired Shiraishi in 2005 as part of its strategy to leverage local expertise. Shiraishi joined Permira from Japanese private equity firm JAFCO’s buyout investment division, where he was the group officer.
With falling valuations due to the financial crisis, Emery said there were attractive buyout opportunities for the private equity industry, although he added it wasn’t easy to get deals done as banks are selective with their lending. However, Permira will continue to do deals in core sectors such as the consumer, technology, chemicals, industrial products and services, he stated.
The firm has made one investment in Japan. In 2007, it acquired Arysta LifeScience, a Japanese agrochemical company, for $2.2 billion in a secondary buyout from private equity firm Olympus Capital Holdings Asia.