The Carlyle Group Raises JPY 258 Billion for Fourth Japanese Buyout Fund
- More than double the size of its previous fund
- Focus on investment opportunities across three core industry groups in Japan
- Takaomi Tomioka and Hiroyuki Otsuka named Deputy Heads of Carlyle Japan to further strengthen the private equity business
Tokyo, Japan – Global investment firm The Carlyle Group (NASDAQ: CG) today announced that it has raised JPY 258 billion (approximately USD 2.3 billion) for its fourth Japanese buyout fund, Carlyle Japan Partners IV (“CJP IV”).
CJP IV received strong backing from domestic and global investors, and is more than double the size of its predecessor fund. The fund will focus on upper mid-market investment opportunities in Japan across Consumer, Retail and Healthcare, General Industries and Technology, Media and Telecom, as well as pursue large-cap investments on an opportunistic basis.
To further strengthen its Japan business, Carlyle has named Takaomi Tomioka and Hiroyuki Otsuka as Deputy Heads of the Carlyle Japan buyout advisory team (“Carlyle Japan”), effective from January 1, 2020. They will work closely with Kazuhiro Yamada, Head of Carlyle Japan, to drive the firm’s investment activity. Mr. Tomioka, who has been with the firm for 17 years, will be responsible for succession-related deals and other mid-cap buyout deals, while Mr. Otsuka, who has been with Carlyle for 14 years, will focus on corporate carve-outs and other large-cap buyout deals.
Kazuhiro Yamada said, “Our investments over the past 20 years have earned us the trust and support of our investors, who we would like to thank for their continued confidence in our ability to create value and drive performance. We are seeing growing opportunities in Japan across succession and carve-out deals, and with this larger fund and strengthened leadership, we believe we are well-positioned to capture these.”
Kewsong Lee, Co-CEO of The Carlyle Group, said, “We have been a driving force in the development of the Japanese private equity market for two decades, combining our deep local knowledge with our global platform to create significant long-term value for our investors and for Japanese companies. We are excited about how the market is evolving and will strive to further build out our Japan business by partnering with strong management teams and high potential companies to drive growth and value over the long-term.”
Having first established its Tokyo office in 2000, Carlyle’s Japan buyout funds have invested more than JPY 300 billion (more than USD 2.7 billion) in Japan including co-investments as of December 31, 2019. Last year, Carlyle Japan Partners III closed three deals including investments in Japan’s fifth largest beer brewery Orion Breweries, coated abrasive manufacturer Sankyo Rikagaku and global cosmetics contract manufacturer Tokiwa Corporation.
Carlyle’s Japan buyout funds, advised by a team of about 20 investment professionals based in Tokyo, have made 26 investments in Japan. The team has a strong track record of supporting Japanese companies in corporate restructuring and business expansion, for both succession planning and carve-out deals. The team has completed 18 exits to date, seven of which have been through IPO.
Takaomi Tomioka is Deputy Head of Carlyle Japan and a Managing Director leading the firm’s succession deals. Mr. Tomioka is also head of the Consumer, Retail and Healthcare group of Carlyle Japan. He has driven a number of significant transactions, including, Qualicaps Group, Solasto Corp., Oyatsu Company Ltd., Sunsho Pharmaceutical Co., Ltd., and Orion Breweries, Ltd., holding a board seat at each of these companies during Carlyle’s holding period.
Prior to joining Carlyle in 2003, Mr. Tomioka served as Director and Representative at GE Equity Japan, a private equity arm of General Electric. Mr. Tomioka also previously served at the Long-Term Credit Bank of Japan.
Mr. Tomioka received his BA in law at Waseda University and his MBA at New York University.
Hiroyuki Otsuka is Deputy Head of Carlyle Japan and a Managing Director leading the firm’s corporate carve-out deals. Mr. Otsuka is also head of the General Industries group of Carlyle Japan, and has driven a number of significant transactions, including, Chimney Co., Ltd., Tsubaki Nakashima Co., Ltd., CxS Corporation, and SENQCIA Corporation (Former Hitachi Metals Techno, Ltd.). Mr. Otsuka is currently a board member at SENQCIA and Walbro.
Mr. Otsuka joined Carlyle in 2006 after working at Sumitomo Bank (currently Sumitomo Mitsui Banking Corporation) and serving as Managing Director at Lazard.
Mr. Otsuka received his PGD from Oxford University and his BA from Waseda University, Japan.
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About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $224 billion of assets under management as of December 31, 2019, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,775 people in 32 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.
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