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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West Palm Beach (HedgeCo.net) – In a press call with HedgeCo, a global forum for the alternative asset community, Joe Christinat of Thomson Reuters clarified the story of HedgeWorld’s abrupt closing.

Christinat said that HedgeWorld will retain the format that it is in currently. They will continue to offer TASS database, and have the service provider/jobs/conference section as well as publish several newsletters including the alternative advantage newsletter.

Although unable to comment on the rumors of staff changes, Christinat said that they are continuing to follow the Thomson Reuters strategy since the purchase of Reuters by Thomson.

Launched in 1999, HedgeWorld became one of hedge fund industry’s premier information provider for individual and institutional accredited investors and their professional advisers, fund managers and service providers in the global hedge fund industry.

Alex Akesson

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Email: alex@hedgeco.net

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