24
Jun
Japan update: Everybody wants some
Japan looks set for another bumper fundraising year in 2026 as local managers raise ever larger sums. Meanwhile, global GPs continue to put down roots with several key hires over the past 12 months. Japan benefits from both a compelling investment narrative – driven by regulatory reforms, activist pressure, aging demographics – and an attractive recent exit record, with four consecutive years of increasing proceeds. The burning question is: How long can this magic formula last?
- What does past evolution in the competitive landscape say about the future?
- How are currency movements impacting perception of the Japan opportunity?
- Is succession planning at the domestic GP level being taken seriously?
- Has investor sentiment changed since the new government came in?
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SpeakersJunji Yokokura Managing Director / Head of Private Equity Financial Sponsor Coverage KPMG FAS
Takashi Nishimura Partner Advantage Partners
Tomohide Handa Partner / Managing Director and Head of Japan Advent
Toshihide Matsuda Senior Partner, Head of Investment T Capital
Hidetsugu Agata CEO, Partner Bluepass Capital
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After 18 years in Investment Banking and 8 years in Private Equity investment in both Japan and the United States, joined KPMG FAS in 2024. Engaged in Private Equity-related transactions including investment business, M&A, and leveraged finance, as well as providing financial advisory services in sectors such as Technology (including Semiconductors), Manufacturing (including Automotive), and Trading Houses.
Providing Financial Advisory services, driving related business development and client support targeted at Private Equity GPs as well as the Manufacturing sector, including Semiconductors and Automotive industries.
In addition to financial advisory services, co-working with specialized teams and professionals in areas such as KPMG’s business strategy, various types of due diligence, carve-outs, and PMI/Value Creation, to assist clients in resolving challenges related to management and business growth.
Responsible for investments including Credge, United Cinemas, Ray Cassin, Net Protections, Kuraya, Nareru Group, Qit, WATCHNIAN GROUP. Supported portfolio companies in consumer goods, IT, and HR/Staffing sectors in achieving topline growth through enhanced marketing, merchandizing, and e-commerce, as well as driving non-liner growth of the business through industry consolidation by add-on acquisitions and new business development.For Net Protections, provided sales support, including the top-management sales calls, to acquire big accounts and IPO preparation support to establish sophisticated management control systems, while respecting the unique corporate culture of the high-growth later-stage venture. Prior to joining Advantage Partners, engaged in the private equity business at Orix. B.A. in Economics from Keio University.
Tomohide Handa joined Advent in 2026 and is a Partner / Managing Director and Head of Japan, leading our Tokyo office. He advises on investments in the consumer and healthcare sectors. Tomohide has advised on eight investments during his career across the Business financial services, consumer, healthcare, and technology sectors.
Prior to joining Advent, Tomohide was a Partner and member of the investment committee at D Capital.
Tomohide received a Bachelor of Law from Keio University, Tokyo.
Toshihide joined T Capital Partners (formerly Tokio Marine Capital) in May 2025. He has over 20 years extensive experience covering financial sponsors, including private equity funds, to provide a broad range of advisory (TOB and curve-out etc.), financing (including IPO) and PE fund related products in investment banking. He founded and led the financial sponsor coverage team at Citigroup Global Markets Japan (formerly Nikko Citigroup) since 2005. Prior to joining T Capital, he was a Managing Director at Nomura International (London) to cover financial sponsors and trading houses to promote and lead cross-border deals after working at Nomura Securities (Tokyo) where he joined in 2017 as a sponsor coverage. He had been involved in a wide range of sectors; TMT, Business Services, C&R, Healthcare, Industrials and Financial Services.
Toshihide has a B.A in Law from Keio University.
Joined Bluepass Capital in February 2026 as CEO and Partner. Prior to Bluepass Capital, was engaged in the private equity business at Sunrise Capital from September 2006 to January 2026, focusing primarily on B2C investments including Qu'il Fait Bon, Dears Brain, AB&Company, Baroque Japan Limited, and House Partner Holdings, driving growth through new store openings, roll-up strategy, e-commerce enhancement, and new business development. AB&Company achieved an IPO during the holding period. At Sunrise Capital, was involved across the full investment cycle, from sourcing and execution to value creation and exit.
Prior to Sunrise Capital, was engaged in the Corporate Planning Department of Mabuchi Motor from 2004; in business restructuring consulting at PricewaterhouseCoopers from 2001; and in corporate finance at the Long-Term Credit Bank of Japan from 1997. B.A. in Agriculture from Kyoto University.