TOKYO (dpa-AFX) - Japanese trading house ITOCHU Corp. (IOC.F, 8001.T), announced on Friday that it has acquired a 20% stake in private equity fund manager Aspirant Group Inc., making it an equity-method affiliate.
ITOCHU said the investment will combine Aspirant's management support expertise with ITOCHU's industry knowledge and global network, creating new opportunities and supporting digital transformation initiatives through its 'Digital Value Chain.'
ITOCHU said it will continue to contribute to corporate value creation through its private equity fund business and support sustainable growth of the Japanese economy.
Aspirant, founded in 2012, focuses on business succession and carve-out investments in Japanese companies. It has invested in 28 firms to date and manages more than 170 billion Japanese Yen in assets.
On the Tokyo stock exchange, shares of ITOCHU were gaining 0.77 percent, changing hands at 2,155.00 Japanese Yen.
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