Mizuho Financial Group Incorporation, the biggest bank in Japan, has approved purchasing US-based Capstone Partners to extend in the business of assisting private equity companies to raise funds.
Mizuho acquires Capstone
Mizuho Americas, the company’s stateside subsidiary, is paying an unrevealed amount for Capstone, as per a statement retrieved by Bloomberg News. The arrangement is scheduled to be completed in the first half of 2022.
The take-over will assist to grow the bank’s list of financial sponsors and reinforce its capital-raising efforts. The business will be assisted by Capstone’s network of over 1,500 limited partners across the United States of America, Asia, and Europe.
Shuji Matsuura, Chairman and Chief Executive Officer at Mizuho Americas, stated in a statement that the monetary sponsors are swiftly evolving beyond their conventional roles and extending their lines of business. Matsuura stated that Capstone is an exceptional example of a company that delivers sponsor clients with a strategic value-added solution, which resonates well with Mizuho Americas’ integrated and global coverage style.
In recent years, Mizuho Americas has been extending its business of adhering to the biggest private equity firms in the world and assisting them with investment transactions and other liquidity events. In 2018, it hired Richard Park from Deutsche Bank AG and Stancel Riley from Wells Fargo & Company to be co-heads of its monetary sponsors’ group.
The division in recent years was a joint lead controller and underwriter for KKR & Co.’s USD 6.6 billion leveraged acquisition of BMC Software Inc. It was also the preliminary coordinating lead arranger of the USD 5.8 billion funding of Venture Global Calcasieu Pass LLC on behalf of Stonepeak Infrastructure Partners.
As a fraction of this arrangement, Clay Deniger – the CEO of Capstone and Steve Standbridge – the Managing Director of Capstone will connect Mizuho Americas banking division to co-head the Capstone business enterprise.
The Japanese firm was counselled by Houlihan Lokey Inc., PricewaterhouseCoopers LLP, and Debevoise & Plimpton. Capstone’s counsellors were Vinson & Elkins and Stifel Financial Inc.’s Keefe Bruyette & Woods.