Global private equity firm Hillhouse Investment is set to significantly expand its presence in Japan, with plans to invest between $1bn and $2bn annually in the country, while nearly doubling its local headcount by the end of 2025, according to a report by Reuters.
The report cites Co-Chief Operating Officer Adam Hornung as confirming that plan, and that the firm, which has been active in Japan since 2009, sees growing opportunities in the region, fuelled by corporate governance reforms and an increasing number of asset sales and take-private transactions.
“The Japanese market now has a tremendous number of opportunities that maybe weren’t as available five or ten years ago,” Hornung said in an interview with Reuters.
Hillhouse is currently investing from its $20.5bn fifth fund series, with $6bn in dry powder. It also plans to launch a sixth buyout fund, Hornung confirmed.
To support its expansion, Hillhouse has already hired 10 people in Japan and expects to double that figure by late 2025. The firm is also relocating to dedicated office space in Tokyo’s Marunouchi business district from shared offices by mid-year.
Notable new hires include Tomohiro Kikuta, a former partner at Bain Capital, and Wern-Yuen Tan, a former executive at PepsiCo.
Hillhouse is targeting healthcare, business services, consumer businesses, and advanced manufacturing as key investment areas. The firm’s current Japanese portfolio includes real estate developer Samty Holdings and restaurant software provider Dinii.
