CITIC Capital Partners Limited, the private equity arm of CITIC Capital Holdings Limited, have closed its third Japan buyout fund at its hard cap of 30 billion yen.

The amount raised is beyond the initial target of 25 billion yen. The fund attracted existing and new investors, both Japanese and non-Japanese, including sovereign wealth funds, financial institutions, pension funds, and fund-of-funds.

The third fund has already made three investments to date and is looking to make approximately 10 investments in total, focusing on consumer goods and services, in addition to manufacturing.

The fund made its first investment with Mark Styler Co. Ltd., a leading young women’s apparel company. It also purchased Akakura Co. Ltd., a women’s footwear retailing company, through its civil rehabilitation proceedings, and is now leading its revitalization process to grow again. The most recent investment is a diagnostic drug company in the Japanese market.