Simpson Thacher advised Advantage Partners in connection with the formation and fundraising of their sixth flagship Japan buyout fund series. With ¥85 billion in commitments, the fund series was significantly oversubscribed, exceeding its ¥75 billion target. The fund series held its first and final closings over three weeks between the end of March and mid-April, after just five months in the market. Approximately 50 investors in total committed to the fund series, with approximately half of aggregate commitments from non-Japanese investors.
Advantage Partners is a leading Asian private equity firm, with offices in Hong Kong, Tokyo, Shanghai and Singapore, and is one of Japan’s oldest and most respected sponsors, with total invested capital of approximately ¥350 billion across more than 69 private equity transactions.
The Simpson Thacher team included Adam Furber, David Azcue, Lily Rasel, Xue Zhang, Lillian Kwok, Brendan Harvey and Mai Kristofferson (Asia – Private Funds); Sarah Katz (Tax); Makiko Harunari, Anuj Shah and Alvin Kwong (Credit); Jeanne Annarumma and Brian Robbins (ERISA); and Paul Dodd (London – Private Funds).