* KKR acquired Intelligence for 35 billion yen in 2010
* Sale of Intelligence follows Carlyle sale of shares in
* Japan accounts for 17 pct of priv equity capital returned
in 2012, up from 11 pct in 2010
By Junko Fujita and Stephen Aldred
TOKYO/HONG KONG March 26 KKR & Co agreed
to sell Intelligence Holdings to Temp Holdings for 68
billion yen ($721 million), almost double what the U.S. buyouts
firm initially paid for the temporary staffing agency three
Intelligence Holdings now has equity value of 51 billion
yen, up from 32.5 billion yen at the time of KKR's purchase, the
U.S. buyout firm said in a statement on Tuesday.
KKR's exit from Intelligence coincides with a rise in
Japan's contribution to overall private equity returns in Asia,
and follows Carlyle Group's recent $214 million sale of
shares in auto parts supplier Broadleaf.
Japan accounted for 17 percent of capital that private
equity firms returned to investors from Asia in 2012, up from 11
percent in 2010, according to recent data from Asia Private
Equity Review (APER).
KKR bought Intelligence from Japan's Usen Corp in
2010 for 35 billion yen as the struggling Japanese corporation
sought to sell off non-core assets.
Private equity firms, however, face potential competition
for such assets from government-backed funds.
Earlier this month, KKR, Bain, Carlyle and other private
equity firms urged Japan's government to shrink the role of
these funds, saying they could squeeze out opportunities for
private capital and delay restructuring for troubled companies.