Exits

Fragmented industries and ageing founders create a strong backdrop for private equity-backed buy and build strategies, say J-STAR’s Yutaka Tozaki, Kazumasa Ohara and Kento Nakasako.

Japanese institutional investors are expanding their PE portfolios in the mid-market, as well as co-investment and secondaries, say Neuberger’s Jonathan Shofet, Yoshi Yagisawa and Hiro Fukuda.

Opportunity abounds in the small and mid-cap space, where companies are ripe for transformation initiatives, say Koji Sasaki and Toshihide Matsuda at T Capital Partners.

The Japanese market is drawing a lot of attention right now, but integrating into the local community takes time, says LYFE Capital founder and partner James Zhao.

A series of market developments and reforms have unleashed the full potential of private equity in Japan, says NSSK’s Jun Tsusaka.

As mid-market GPs look to scale, GP stakes investors can help by sharing their global expertise and by teeing up new liquidity solutions, explains Brad Pilcher, partner at Bonaccord Capital Partners.

Global capital is pouring into Japan, yet fundraising data reveals a more uneven picture as domestic constraints and cyclical dynamics reshape the market.

GP stakes strategies are reaching an age where exits are no longer theoretical. Thankfully, there are now more routes available than ever before, note Hunter Point Capital’s Brian Blaney and Ross Sarraf.

Lower mid-market GP stakes benefit from favourable supply-demand dynamics, operational impact potential and multiple paths to liquidity, say Azimut Alternative Capital Partners co-CIOs Jeffry Brown and Michael Shedosky.

A growing number of international firms are working to build out their presence in the increasingly attractive Japanese PE market.