Unison Capital to return with Japan and Korea funds – exclusive

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

Tokyo-based manager Unison Capital is set to kick start fundraising for its second Korea fund in the second half of the year. It is also planning a capital raise for its fifth Japan fund in 2019, Private Equity International has learned.

The combined target for both funds is under $1 billion, according to a source with knowledge of the fundraising.

Unison raised ¥70 billion ($660 million; €530 million) for Unison Capital Partners IV and KRW 300 billion ($280 million; €230 million) for Unison Capital Private Equity Fund I (Korea) in 2015. PEI understands the firm will have similar targets for its new Japan and Korea vehicles.

The firm invests mainly in consumer/retail, packaged goods, restaurants and healthcare companies, with enterprise values of between $100 million and $300 million. Its current portfolio includes hotel and restaurant operator Forbes, travel media company Yuko Yuko, and izakaya chain DINAMIX.

Limited partners in Unison’s debut Korea fund included Lotte Non-Life Insurance and the National Pension Service of Korea, according to PEI data. Meanwhile the Massachusetts Mutual Life Insurance Company, Norinchukin Bank and Partners Group had backed its earlier Japan-focused funds.

The firm has managed over $3.6 billion in commitments from global institutional investors, including public and private financial institutions, pension funds and university endowments, it wrote on its website.

Unison declined to comment on fundraising.