Carlyle Raises JPY 430 Billion for Fifth Japanese Buyout Fund

Tokyo, Japan – May 21, 2024 – Global investment firm Carlyle (NASDAQ: CG) today announced the final close of its fifth Japanese buyout fund, Carlyle Japan Partners V (“CJP V”). At JPY 430 billion (approximately USD 2.8 billion[1]), which is inclusive of commitments from the General Partner and its affiliates, CJP V hit the hard cap on Limited Partner commitments. This represents the largest fundraise for a buyout strategy focused on the Japanese market, according to data from Preqin[2].

CJP V received strong demand and backing from both domestic and global investors, raising nearly 70% more than the size of its predecessor fund. CJP V will continue the successful strategy of investing primarily in upper middle-market opportunities in Japan across Technology, Media and Telecom (TMT), Consumer, Retail and Healthcare (CRH), and General Industries (GIG), focusing on succession transactions, carve-outs, and strategic take-privates.

Kazuhiro Yamada and Takaomi Tomioka, Co-Heads of Carlyle Japan, said, “We are delighted to close our fifth Japan buyout fund and are grateful for the trust and support of our investors. It is an exciting time for private equity investors in the region. With our largest fund to date, we are well-positioned to continue to capture investment opportunities on behalf of our investors by working with founders and management teams who are looking for the right partner to help take their business to the next level.”

Harvey Schwartz, CEO of Carlyle, said, “We are pleased to significantly deepen our commitment to Japan, a market of strategic importance for the firm. For over 20 years, Carlyle has played a leading role in the growth and development of the Japanese private equity market by bringing our local expertise and significant global resources to create value in Japanese companies and deliver attractive returns for our investors. The success of this fundraise is a testament to the franchise our Japan team has built and the confidence our investors have in our ability to continue to deliver sustainable, long-term value.”

Carlyle’s Japan buyout platform has invested more than 450 billion yen across approximately 40 private equity investments since 2000. This well-established history of investing in Japanese portfolio companies and track record of delivering business transformation and sustainable growth has helped contribute to the local economy. Carlyle Japan Partners IV, a 2021 vintage fund, has 12 investments to date, including recent deals such as Totoku, Uzabase, Iwasaki Electric, and Seiko PMC. 

About Carlyle 
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $425 billion of assets under management as of March 31, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 28 offices across four continents. Further information is available at www.carlyle.com. For more, follow Carlyle on X and LinkedIn.

[1]Exchange rate as at May 10, 2024.

[2] Source Preqin Pro (as at May 1, 2024); buyout funds with a primary focus on investment in Japan.

Media contacts

Andrew Kenny, Global Corporate Communications
+44 7816 176120
andrew.kenny@carlyle.com

David Ashton / George Ohyama
+81 80 9713 2020 / +81 80 7340 1015
carlylejp@brunswickgroup.com