Michael Hui will join Bain Capital’s special situations unit, while Hiroyuki Otsuka is set to start an engagement fund to back large manufacturers in Japan.
Goldman partner to join Bain’s special situations arm
Michael Hui, head of China private equity at Goldman Sachs, will join Bain Capital’s special situations unit after a period of gardening leave, reported Bloomberg News.
The appointment is an effort to strengthen Bain’s presence in China, according to the report.
Hui joined Goldman Sachs 20 years ago, working at the firm’s Asia equity strategy and equity research arm, according to his LinkedIn profile. He moved to China private equity and growth equity in 2006.
Bain Capital is looking to raise $4 billion for a global special situations fund, according to a Reuters report in May. The Bain Capital Special Situations has invested more than $28 billion in over 850 deals.
Former Carlyle MD to launch engagement fund in Japan
Hiroyuki Otsuka, Carlyle’s former managing director and deputy head of Japan, is set to start an engagement fund to back large manufacturers in need of revival advice, reported Bloomberg News.
Otsuka plans to raise more than a hundred billion yen from domestic investors for the engagement fund, which plans to be operational in the first half of next year, added the report.
The fund will make small investments in underperforming manufacturers for an investment period of three to four years, according to Bloomberg.
Otsuka joined Carlyle in 2006 after working at Sumitomo Bank. He was appointed as the deputy head of the Carlyle Japan buyout advisory team in 2020. He has driven significant transactions, including, Chimney, Tsubaki Nakashima, CxS Corporation, and SENQCIA Corporation.