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Longreach Holds First Close on $750M Fund

Hong Kong-based buyout shop Longreach Group has reached a first close on its new $750 million Japan-focused fund, Reuters reported. The firm said $125 million came from return investors from the firm’s first fund, Longreach Capital Partners 1.

(Reuters) – Hong Kong-based private equity firm Longreach Group said on Monday it has reached first close on a $750 million fund which is primarily focused on Japan.

The firm said it has received $125 million from investors which were in its first $750 million fund, Longreach Capital Partners 1.

That fund also invests mostly in Japan, with related focus on China, and the new fund will follow the same investment strategy.

Longreach acquired Sanyo Electric Logistics Co from Sanyo Electric Co in July 2010.

(Reporting by Stephen Aldred; Editing by Muralikumar Anantharaman)