Merrill Shutters Tokyo Private Equity Office

Apr 10 2009 | 8:11am ET

Merrill Lynch’s private equity arm has closed its Tokyo office, becoming the latest alternative investments firm to cut back in Asia.

Merrill Lynch Global Private Equity shuttered its four-year-old Japanese office last month, Financial News reports. The firm said it did not foresee an upswing in dealmaking in the country, where it has struggled and complete just one deal, in 2003.

“Our view is that the immediate level of buyout activity in Japan is unlikely to be significant,” Matthew Turner, head of Europe at MLGPE, told FN.

The private equity business still boasts three offices in the Asia-Pacific region, in Hong Kong, Mumbai, India, and Sydney.

The Tokyo office’s two managing directors, Terutoma Mitsumasu and Hidetoshi Shibata, have left Merrill. Mitsumasu, who led the office, joined Merrill in 2005 from Shinsei Bank’s p.e. team, while Shibata came to the firm in 2007 from MKS Partners.


In Depth

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...