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

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Midtown's Plaza District Fades As Manhattan Office Landscape Shifts

Nov 22 2016 | 6:32pm ET

Lower leasing costs, more efficient office space and the hope of projecting an image...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR