(Bloomberg) -- Apollo Global Management is hiring a team of dealmakers and opening an office in Japan, joining other large global private equity groups queuing up to capitalize on a corporate governance-led flurry of buyouts in the country, the Financial Times reported.
It follows a similar move by bigger rival Blackstone Group, which last year hired a buyout team to add to its existing property investment operation in Japan. Other large private equity groups with offices in Tokyo include KKR, Bain Capital, Carlyle Group and Permira.
“The Japanese won't let you get into auctions if you don't have a presence in the country,” said a person briefed on Apollo's move. The person added that Apollo was playing “a long game” and counting on the fact that “there is still so much to do in Japan," the FT report said.
Apollo is planning to bulk up its Indian direct lending operation and is considering setting up an operation in Brazil to invest in illiquid corporate debt, the FT report said.
To contact the reporter on this story: Melissa Cheok in Singapore at mcheok2@bloomberg.net
To contact the editors responsible for this story: Chua Baizhen at bchua14@bloomberg.net, Ron Harui
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