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Advent raises $560 mln for first PE fund in Japan

Reuters Tokyo – Global buyout firm Advent International said it has raised 60 billion yen (317 million pounds) for its first private equity fund in Japan.

The fund, which opened its office in Tokyo in 2001, will target companies with enterprise values from 5 to 50 billion yen, but could be involved in larger deals through co-investment with other Advent funds, it said in a release.

Advent, with nine professional staff in Tokyo, said it will target four main sectors — health and life sciences, industrial, retail and consumer, and support services.

Private equity firms have spent $8.7 billion in buying Japanese companies since the beginning of this year, down 19 percent from the same period last year, Thomson Reuters data shows.


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