13/Nov/2020 – Akebono Asset Management Ltd., the alternative investment management company managing the secondary strategy in Japan (“Akebono”), announced its resolution for merger with Asuka Asset Management Co., Ltd. (“Asuka”), a pioneer of hedge fund manager in Japan, to be dated on 1st of February, 2021. This merger shall become effective subject to Aizawa Securities Co., Ltd., consummating the stock acquisition of Akebono (to make it a subsidiary) on 8th of December, 2020.
Purpose of Merger
Akebono and Asuka entered into capital alliance on Jan. 31, 2020, in order to jointly offer unique alternative asset management that can handle everything from private assets to public assets in Japan. Asuka is a long-time leader in Japan’s alternative asset management industry with focus on hedge funds and engagement investment.
With the merger agreed this time, Asuka and Akebono can strengthen the management foundation and increase business efficiency by integrating managerial resources and organizational operations. Asuka and Akebono will strive to create an alternative asset management company that responds to the needs of the investors in Japan. The merger will also contribute to diversifying and enhancing the Aizawa Securities Group’s assetbuilding business.
Merger and change of the corporate name
Schedule for merger and change in the company name (outlined)
Dec. 24, 2020 (scheduled): Execution of the merger agreement
Feb. 1, 2021 (scheduled): The merger date (the effective date of the merger)
Feb. 1, 2021 (scheduled): The date to change of corporate name
This will be an absorption-type merger in which Asuka will be the surviving company and Akebono will be dissolved.
Corporate name after the change
Aizawa Asset Management Co., Ltd.
Management team of the merged company (Scheduled on 1st of February, 2021)
The management team of the merged company is based on the management team of Asuka, and Naoi Niijima of Aizawa Securities will be invited as a director of the merged company. Shinichiro Shiraki will be appointed as the representative director and president. Toshihiro Hirao, Representative Director and President of Asuka, will be the director and chairman who also serves as the chief investment officer (CIO).
Investment team after merger
The merged company will manage the assets that both companies currently handle by adopting the existing structure even after the merger. As for low-liquidity asset management such as unlisted equity, including Ariake Secondary Funds, will be managed by Shiraki as principal and current Akebono’s investment team.
For further detail, please refer to the press release kit.
Asuka is an independent asset management company, specialising in alternative investments. Originally established by Japanese investment professionals as the Japan office of Tudor Investment Corporation, it changed its name to the current Asuka Asset Management Co., Ltd in July of 2002 after an MBO in order to become a pioneer of Japanese hedge fund houses. Employing its investment philosophy of “Avoiding Event Risk”, Asuka provides various alternative investment funds, namely its Japanese Equity Long/Short Strategy, Value-Up Strategy, and its Insurance-Linked Strategy.
Address: Uchisaiwaicho Daibiru Building 6th Fl.,
1-3-3 Uchisaiwaicho, Chiyoda-ku, Tokyo 100-0011
President: Toshihiro Hirao
Akebono is an investment management company in Japan, and a niche player of secondary strategies in the Japanese illiquid asset space, such as interests to private equity funds and venture capital funds. Akebono is managing the Cayman Islands domiciled funds, Ariake Secondary Funds, and Japanese funds, to provide various opportunities of asset liquidation to investors/asset owners.
Address: Premium Office Kojimachi, 2-10-2 Kojimachi, Chiyoda-ku, Tokyo 102-0083 Japan
CEO: SHIRAKI, Shin
For further inquiries
Akebono Asset Management Ltd.
Contact: Hiraku Kawakami
Asuka Asset Management Co., Ltd.
Contact: Kosuke Noda