CLSA Sunrise Capital Partners I, a 2006 -vintage Japan-focused fund with USD 350 million commitment, sold 100% shares of Everlife Co. Ltd. to LG Housefholld and Health Care for JPY 25.8 billion (USD 285 million).
According to IR documents of LG Household and Health Care, the sale and purchase agreement was concluded on 17 December 2012 and the transaction was completed in late January. Everlife, 3rd largest direct marketing company in Japan's health care sector after Suntory and DHC, was valued at JPY 37 billion (USD 410 million), or 6 times estimated 2013 EBITDA.
CLSA Japan invested in Everlife in February 2008, but still managed to generate a generous return.
CLSA Japan also announced the first closing of its second fund with USD 150 million commitments form its existing foreign LPs.
February 07, 2013
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