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

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

The Life Settlement: Yield For The Investor And Cash For The Consumer

Mar 31 2015 | 6:48am ET

Investors are languishing in a yield-starved, low-interest rate environment, looking...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note