Marunouchi Capital Inc., the private equity arm of Mitsubishi Corp. and The Bank of Tokyo-Mitsubishi UFJ Ltd., raised ¥94.16 billion across both its funding vehicles, Private Equity International reported.
Marunouchi Global Fund II and Marunouchi Capital No. 2 LP will inject capital in Japanese consumer goods and manufacturing companies, said the report.
However, the news publication said that the capital raised by the private equity firm falls short of its target. The Capital No. 2 fund reportedly has a target of ¥100 billion, while the benchmark for the Global Fund II could not be ascertained.
A spokeswoman for the firm did not comment on the matter beyond a statement announcing the fund closing, the report noted.
As of Oct. 8, US$1 was equivalent to ¥113.13.