Monument Group advises Sunrise Capital on USD450m fundraise
Monument Group has advised Sunrise Capital on raising Sunrise Capital IV (Sunrise IV). The fund, which was significantly oversubscribed, closed in three months at its hard cap of USD450 million of commitments.
Sunrise Capital, a strategy of CLSA Capital Partners, is a Japan-dedicated mid-cap private equity fund.
“Monument Group’s familiarity with Sunrise Capital, and their experience working with sophisticated investors in Asia and around the world, proved instrumental in the speed and success of this fundraise,” says Megumi Kiyozuka, President & Representative Director at CLSA Capital Partners (Japan) KK. “We would like to thank our investors for their commitment to Sunrise Capital. With this additional capital, we will continue to pursue our dedicated private equity strategy of acquiring well-established Japanese mid-cap companies with strong growth potential, and to focus on unique investment opportunities created by Covid-19.”
Sunrise IV’s investor base is comprised of leading financial institutions, including funds of funds, endowments, foundations and family offices from Japan, wider Asia, North America and Europe. In addition to commitments from a select group of new investors, Sunrise IV received strong support from existing investors, which accounted for 82 per cent of the total number of investors committing to Sunrise IV.
“Sunrise Capital is a key component of CLSA Capital Partners’ Asia-focused multi-strategy platform,” says Shota Kuwaki, Director at CLSA Capital Partners (Japan) KK. “The overwhelming investor interest in Sunrise IV is indicative of investors’ enthusiasm for a Japan-dedicated buyout strategy. Our sincere gratitude to Monument Group for their guidance and support to the Sunrise team in this all-virtual fundraising effort.”
“Due to Covid-19 restrictions, this was the first virtual fundraise on which Monument Group advised and it could not have gone more smoothly,” said Niklas Amundsson, a Partner at Monument Group. “The raise was very quick, with many high-quality new and returning investors, indicative of their confidence in Sunrise and the continuing interest in mid-market opportunities in Japan. We thank the Sunrise team for the privilege of once again assisting them with a capital raise.”
In addition to Sunrise Capital IV, Monument Group advised Sunrise Capital on the raising of its predecessor fund, USD400 million Sunrise Capital III (2017).