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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CNBC- For the first time, more hedge funds will fail this year than are originated, according to Philip Duff, of Duff Capital Advisors.

In a rare interview with CNBC, Duff said the difficulty in gauging the health of banks has made it a challenging year for the fund industry.

"The dream of starting a hedge fund has been an enormous pull for people coming in off the streets," he said. "At the same time, delivering a consistent risk-adjusted return … is not an easy thing to do."

Yet Duff said the future continues to be strong for hedge funds. He welcomed more government regulation and predicted that as investment banks continue to experience problems funds will continue to grow.

"I think the hedge funds will take over a lot of the roles of investment banking in the basic function of intermediating capital and intermediating risk in the marketplace," he said. "I do think there will be more regulation, and I view that as a good thing."

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