HONG KONG/TOKYO, March 12 Japanese private
equity firm Unison Capital is raising 60 billion yen ($581
million) for its fourth fund, with demand for capital from
buyout firms expected to grow as companies look to expand their
The new fund is considerably smaller than Unison's third
fund of 140 billion yen raised in 2009, and answers a question
investors have about how much demand there is for private equity
deals in Japan. Unison was forced to shrink the third fund in
2011 by around a quarter as deals dried up in Japan.
The investment period on the third fund ends in August, a
spokesman for Unison told Reuters.
Unison is also raising a separate fund of around 250 billion
won ($234.71 million) to invest in South Korea, its first
won-based fund, said Tatsuo Kawasaki, a partner at Unison, at
the PEI Asia Forum in Hong Kong on Wednesday.
South Korea has seen an increase in private equity-backed
M&A deals, helped by economic and political stability, a steady
domestic stock market, and a stream of buyout targets being
churned out by foreign and local conglomerates.
Unison's recent flagship transaction is a sale of a sushi
restaurant chain Akindo Sushiro Co to global buyout firm Permira
for about $1 billion in 2012.
($1 = 103.1850 Japanese Yen)
($1 = 1065.1500 Korean Won)
(Reporting by Stephen Aldred in HONG KONG and Junko Fujita in
TOKYO; Editing by Ryan Woo)