PRINT THIS PAGE US Colony Capital to launch Japanese buy-out fund21/01/2004. Source: AltAssets. 
 US private equity firm Colony Capital is to launch a Japanese private equity and real estate fund targeting Y50bn ($468m). The move follows the firm’s Y100bn acquisition of a Japanese baseball stadium in December last year.
Colony chief executive Thomas Barrack and Robert Zulkoski, chief executive of Colony Capital Asia Pacific, told Reuters that the firm plans to invest between $1.5bn and $2.5bn in Japan over the next five years. It intends to raise further funds in the future to provide capital for these investments.
Private equity investors are becoming increasingly interested in distressed assets in Japan, which have the potential for high returns when they are turned around. One such example is Shinsei Bank, a failed Japanese lender that was bought by a consortium led by US investment fund Ripplewood Holdings for Y121bn in 2000. Shinsei is now planning an initial public offering that is expected to value the company at over Y207bn.
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