Fundraising

The Japanese buyout firm wants to raise almost $1bn for its fifth Japan fund and second Korea fund, Private Equity International has learned.

The asset manager will seek €150m for the vehicle and expects a final close on its mid-cap fund in the second half of the year.

The family office-focused advisory firm believes high pricing at the peak of the cycle coupled with longer holding durations will contribute to a fall.

SWAN III, which is already 50% deployed across 20 deals, can make primary, secondaries and co-investments.

A preference for blue-chip GPs, limits on LP resources and the diminishing appeal of UK funds were on the minds of private equity participants who gathered in the German capital last week.

The Mitsubishi Corporation-backed firm expects to raise capital from an Asian investor for its second offering, whose LPs are mainly domestic financial institutions.