J-STAR taps second fund to buy marketing business ASIRO

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lawyers-1000803_960_720Japanese private equity firm J-STAR has tapped its second fund to buy internet marketing provider ASIRO.

The company operates web media called Gensen Bengoshi Navi Series, which translates to top pick lawyer’s navigation series.

ASIRO provides advertisement spaces to lawyers who have specialties in car accident, divorce, inheritance, labor, and debt settlement, among others.

J-STAR said the internet media market has grown to JPY 900bn ($8.57bn), a 3.2-times increase compared to 10 years ago.

The firm also noted that the number of lawyers in Japan has increased by 2.4 times compared to 20 years ago.

To make the purchase, J-STAR used its second fund, J-STAR NO.2, which closed at JPY 11.86bn ($104m) in 2012.

Investors in J-Star No. 2 included, but were not limited to, Japanese commercial banks, Japanese trust banks, Japanese Fund of Funds, Global Fund of Funds, and oversea pension funds.

Earlier this month, AltAssets reported that J-Star was nearing a $150m first close on its third buyout fund, putting it 50 per cent of the way to its target.

Copyright © 2016 AltAssets

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