Japanese middle-market private equity firm D Capital has hit the third close of its debut fund while Next Capital has acquired Compare Club, one of Australia’s largest comparison businesses.
Japan’s D Capital hits third close of debut fund
Japanese middle-market private equity firm D Capital has hit the third close of its debut fund at JPY 27 billion ($186.4 million), according to an announcement.
The firm is targeting to raise a corpus of JPY 30 billion to provide capital, technology and networking opportunities to SMEs, which account for 99.7% of Japanese companies.
D Capital, a private equity firm specialising in digital transformation, spun out from Unison Capital last year. The firm in April announced that it raised over JPY 20 billion for the debut fund.
In April this year, Japanese mid-market private equity firm J-STAR closed its fifth fund and related vehicles at a 75 billion yen ($574 million) hard cap.
Next Capital buys Australia’s Compare Club
Mid-market buyout firm Next Capital has paid over AUD$100 million (US$64 million) to acquire Compare Club, one of Australia’s largest comparison businesses, Financial Review reported.
Compare Club serves over 1,000,000 Australian families every year across health insurance, life insurance, energy & gas, home loans, hearing aids, and child care.
Next Capital was advised by E&P and Corrs Chambers Westgarth, while Stanton Road Partners was in Compare Club’s corner.
Next Capital is an independent Australian private equity firm, specialising in providing buyout funding for small to medium growth businesses, typically valued between A$50 million and A$200 million.