AlpInvest Partners has made its first dedicated hire in Japan as it seeks to leverage increasing interest in alternatives from the domestic investor community.
The Carlyle unit has named Yasuyuki Kanda, previously an engagement manager with McKinsey & Company, as managing director in the country, a source familiar with the matter told sister publication Private Equity International.
The position is new and Kanda will focus on investor relations and business development across funds, secondaries and co-investment for the firm, the source added.
It is understood the role will ensure proximity to local pension funds and other institutional investors who have been stepping up their exposure to alternatives.
In light of increasing appetite for alternatives, global firms have been building their teams and setting up shop in Tokyo. Secondaries giant Ardian established its Tokyo presence in February last year, while Pantheon set up in the capital in July. Swedish firm EQT is understood to be considering a Tokyo outpost and plans to boost its IR team with more Japanese professionals, as PEI reported in November. Apollo Global Management is also reportedly looking to open a Tokyo office in the near-term.
Prior to joining McKinsey, Kanda was the chief executive of Tokio Marine Asset Management’s Europe office in London from 2013 to 2018 and served as head of research in its New York office for four years, according to his LinkedIn profile. Earlier in his career he worked as a portfolio manager at AIFAM’s fund of hedge funds business and held various roles at Dai-Ichi Kangyo Asset Management (now Mizuho Asset Management) and Scottish Widows Investment Partnership.
Amsterdam-headquartered AlpInvest had about $45 billion in assets under management as of end-September. The firm has been active in Asia, including in Japan, since its inception in 2000. It opened its Hong Kong office in 2006.
AlpInvest declined to comment.