Neuberger, a private, independent, employee-owned investment manager, yesterday announced the successful final close of the NB Japan Private Equity Opportunities fund, raising approximately JPY70bn ($460m) from a diverse group of institutional investors, family offices and private wealth investors.

The fund seeks to provide investors with diversified exposure to Japan’s private equity market through a combination of commitments to Japanese private equity funds and direct co-investments. The strategy is designed to provide broad market exposure while maintaining capital deployment efficiency for investors, according to a statement by the asset manager.

This is Neuberger’s first dedicated Japan-focused private equity product. Previously, the firm had committed over JPY 110bn through its managed commingled funds and custom accounts across Japan-focused primary funds, co-investments and secondaries. 

Kent Chen, managing director and head of Asia private equity, said: “Japan represents one of the most compelling private equity markets globally. Corporate governance reforms are driving increased focus on shareholder value, resulting in a growing pipeline of corporate carve-outs and take-private transactions, while demographic trends are accelerating ownership transitions among founder-led businesses.”

“Together, these structural forces are creating a favorable environment for private equity investors.  Through this fund, investors have the opportunity to access a diversified portfolio of Japan-based managers and co-investments in a capital and cost-efficient manner.”

Jonathan Shofet, managing director and head of private investment portfolios & co-investments, added: “Our inaugural NB Japan Private Equity Opportunities Fund was raised in less than one year in a challenging fundraising environment, which is a strong testament of the Neuberger Private Markets platform and the opportunity set in this region. We are grateful for the continued partnership and support of our investors.”

Using Neuberger’s global private markets platform, which manages over $170bn in commitments, together with the firm’s longstanding presence in Japan, the fund is supported by seasoned investment professionals in Asia, including a team on the ground in Tokyo, with strong deal execution capabilities, deep manager relationships and on-the-ground market insights.