BDA Partners, a leader in cross-border investment banking focused on Asia, has formed a strategic partnership with Development Bank of Japan (DBJ). As part of the agreement, DBJ has made a growth capital investment into BDA, resulting in DBJ owning 5 per cent of BDA’s enlarged equity.
The two firms will jointly pursue M&A advisory and capital raising mandates connecting Japan with the rest of Asia, Europe and the US. Through this partnership, BDA will enhance its ability to serve clients in selling companies to Japanese buyers. DBJ’s clients will also gain access to top quality acquisition targets worldwide, with advisory support from BDA.
DBJ is 100 per cent owned by the Japanese Government, and has total assets of US$148bn. It provides financing, consulting, and advisory services in Japan and internationally, including M&A advisory and public and private, equity and debt, investments. DBJ released its fourth medium-term management plan in May 2017, in which M&A advisory services are highlighted as a key strategic focus.
This new relationship builds on BDA’s successful, six-year worldwide strategic alliance with William Blair, a premier global investment banking and asset management firm.
No existing BDA shareholders are selling any equity in the transaction. BDA will have access to future equity from DBJ, at BDA’s discretion. Additional terms have not been disclosed.
BDA has been active in Japan for over 15 years, working on transactions involving clients and counterparties such as Asahi Glass, Inabata, Nissha Printing, Panasonic, Ricoh, Sumitomo Corporation, Totoku Electric, Toshiba Machine, and Yanmar.
BDA has been managed for over twenty years by Euan Rellie, Charles Maynard and Andrew Huntley, who are Senior Managing Directors and the three largest shareholders in the firm. Several BDA partners were instrumental in forming this new partnership, and will work closely with DBJ, notably Paul DiGiacomo (Hong Kong, Ho Chi Minh City, Singapore) and Jeff Acton (Tokyo). BDA’s CFO, Bill Pullano, was also closely involved in developing the partnership.
Masanori Yanagi, President & CEO of DBJ, says: “Using DBJ’s knowledge and network and BDA’s expertise and overseas network, DBJ will more efficiently and effectively offer our customers integrated lending, investment and financial advisory services beyond Japan”.
Euan Rellie, Co-Founder of BDA, says: “We consider Japanese companies to be vitally important to cross-border M&A going forward. DBJ offers us exceptional client access, relationships, and funding for the most promising Japanese companies in SE Asia and around the world. We’re excited to work together to offer unparalleled cross-border deal flow across Japan, the rest of Asia, Europe, and the US”.
