Harneys advises Endeavour United on the closing of its JP¥53 billion new Japan buyout fund
Harneys acted as Cayman Islands counsel to Endeavour United Co. Ltd. in relation to the successful closing of its EU Fund III L.P., a Cayman Islands exempted limited partnership buyout fund.
This is Endeavour United’s first global fundraising attempt under a parallel fund structure set up by a Cayman ELP along with Endeavour United III Investment Business Limited Partnership, generating approximately JP¥53 billion of aggregate commitments.
Founded in 2013, Endeavour United is a Tokyo-based buyout firm managing funds which target business succession, corporate carve-out, and special situations deals in Japan’s lower middle market. It has a focus on the sectors of manufacturing, construction, retail/consumer services, and corporate services. At the core of its investment strategy, Endeavour United aims to make value-oriented investments in companies with operational, transactional, or structural challenges and complexity.
Yucheng Fan, Investment Funds and Regulatory Partner, led the team, with support from Senior Associate Cherrie Wong and Paralegal Ada Xie. Harneys’ associated corporate and fiduciary services arm, Harneys Fiduciary, also assisted with the transaction. Simpson Thacher & Bartlett, Mori Hamada & Matsumoto and Rajah & Tann Singapore advised the client on US/international, Japanese and Singapore laws respectively.
Yucheng commented: "It was a pleasure to advise Endeavour United and work alongside the prominent teams at Simpson Thacher & Bartlett, Mori Hamada & Matsumoto and Rajah & Tann Singapore. We wish Endeavour United every success in its plans to add value, explore innovative solutions, and execute operational improvements across multiple key areas of its portfolio companies.”
Endeavour United added: "We were delighted to have partnered with Harneys on this transaction. There are still numerous unresolved challenges in Japan, such as a lack of successors, needs for business developments, requirements of business portfolio restructurings and initiatives of ESG, and we, as one of the oldest PE funds in Japan, hope to address these challenges through our fund operation.”
Harneys advises on all aspects of the life of Cayman, BVI, Cyprus, and Luxembourg funds, including formation, restructuring, and closure, both in planned and distressed scenarios. The firm has also established a dedicated offshore regulatory practice providing regulated clients with essential legal support.