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Mitsubishi Corporation launches new ASEAN PE fund

Mitsubishi Corporation (MC) and CIMB Group (CIMB), together with Development Bank of Japan (DBJ), have launched a Southeast Asia-focused middle market private equity fund, AIGF (ASEAN Industrial Growth Fund).

AIGF, which is based in Singapore, had its first closing at USD130m, and is joined by Shinsei Bank, Limited, a leading diversified Japanese financial institution, as strategic investor, and leading Japanese industrial companies and prominent institutional investors including Hitachi, Ltd., Yamato Kogyo Co Ltd, and THE TOHO BANK, LTD. The Fund is aiming to reach approximately USD200m over the next 12 months.

AIGF is a unique private equity platform that seeks to provide growth capital to the middle market, where many well established companies have needs for growth capital, particularly across the ASEAN region where promising economic growth potential is being buoyed by dynamic population increase. Mainly focusing on Indonesia, Malaysia, Singapore and Vietnam, the Fund intends to realize the intrinsic value of portfolio companies and maximize returns by leveraging Mitsubishi Corporation's vast business ecosystems and management know-how, CIMB's broad customer base and financial expertise as well as DBJ's private equity experience in the ASEAN region.

Mitsubishi Corporation is Japan's largest trading company. AIGF will be the core platform in Southeast Asia for MC's private equity business which comprises of a diversified mix of investment strategies that span emerging and developed markets, with investment focus from small caps to large corporations.

CIMB Group is Malaysia's second largest financial services provider and one of ASEAN's leading universal banking groups. It offers products as well as services such as consumer banking, investment banking, Islamic banking, asset management, insurance and private equity business.

Development Bank of Japan Inc is solely owned by the Government of Japan through the Ministry of Finance. Since its conversion to a joint-stock company in October 2008, DBJ has worked to expand its international business by preparing operating bases including DBJ Singapore Limited (DBJS) launched in December 2008. Intensive collaboration of DBJ and DBJS with its overseas partners uniquely positions the group to match companies anywhere in Asia with a Japanese partner.

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