RISA Partners raises $248m for Fund II

Japanese LPs have provided the capital for the Tokyo-based firm's latest special situations fund.

Real Integrated Solution & Advisory (RISA) Partners, a Japanese investment bank, has raised ¥22 billion ($248 million; €166 million) for the final close of RISA Corporate Solution Fund II, its second private equity fund.

The firm began fundraising in July 2008, Koji Magoshi, manager in the corporate planning division of the firm, said in an interview. Capital was raised entirely from domestic Japanese institutional investors and corporate pension funds, he said.

RISA Corporate Solution fund II will make growth capital investments and will target tressed companies in need of a capital injection, Magoshi said. It will invest across all sectors. On average, the fund will commit between ¥1 billion and ¥3 billion per transaction and will invest only in Japanese companies, he said.

The firm’s first fund was also a ¥22 billion vehicle that closed in the middle of 2008. That fund has made 11 investments and is fully deployed, Magoshi added.

Established in 1998, Tokyo-listed RISA Partners is focused on principal investments, funds and investment banking. The principal investment segment is engaged in real estate investment, loan investment and corporate investment businesses. The funds business is engaged in private equity and real estate and the investment banking business provides corporate advisory, credit advisory and real estate advisory services.