- Tokio Marine Capital Co., Ltd. changed its capital structure by executing management buyout from Tokio Marine Group and was renamed T Capital Partners Co., Ltd. as of October 1st, 2019.
- We continue to evolve our business as a good partner trusted by both investors and investee companies by putting our heart and soul into “T” which represents“Trust” “Team Spirit” and “Tokyo”.
Characteristics of T Capital
Message from the President
Since the inception of the fund management business in 1998, the initial stage of the private equity market in Japan, Tokio Marine Capital (now T Capital Partners), a private equity fund management firm within the Tokio Marine Group, has set up a total of seven funds.
T Capital Partners invests funds collected from institutional investors at home and abroad including banks, insurance companies, and pension funds in excellent medium- and small-sized companies, and aims for further growth through a variety of kinds of management support for investees. T Capital Partners is committed to investments entrusted by both investors and investees.
Currently, when an owner-managed company considers measures for business succession or recapitalization, it often partners with a fund to achieve business growth together. Cases where a fund takes on affiliates and businesses when a large corporation considers restructuring of its business portfolio to improve capital efficiency of its group are also increasing.
T Capital Partners continues to focus on trust as a core of our business activities and to make healthy investments. T Capital Partners is fully committed to realizing sustainable growth and development of investees by seriously working on the management issues such investees face.
Koji Sasaki, President
Change of the Capital Structure and the Company Name
Management Philosophy
The core of our business activities is trust.
- We aim to become a good partner trusted by investees by meeting the various management needs of investees such as sustainable growth, business restructuring, and business succession, and offering assistance in all aspects.
- We aim to become a fund manager trusted by investors by achieving excellent investment results through investments in growing companies and working on proper information disclosure.
- We aim to become a private equity investment firm trusted by society through sustainable growth of our businesses and healthy and fair business practices.
About T Capital
more than 25years
Years of investment
over$2.2billion
Total commitments from
institutional investors
31
Total buyout investments
Stable fund management principles as a long-established firm
Long-established and proven track record
Started buyout investments as a pioneer of Japan’s private equity industry in 1998 and has survived and generated steady track records through volatile market changes.
Inherited trust and responsibility from Tokio Marine Capital
We have built the independent fund management structure distinguished from the affiliation of Tokio Marine Group.
Trust and responsibility accumulated since the inception has been inherited to each member through the change of our capital structure.
Investment focus on excellent small to midcap companies in Japan
Focus is put on investments in small- to medium-sized corporations equipped with core capabilities, such as those which hold good technology or business models unsurpassed by others. After the investment, TMCap strongly supports managers of portfolio companies as an indispensable partner to ensure moderate and sustainable value creation.
Experienced professional investment team
Our investment team members have a wide variety of backgrounds and experience, having devoted themselves to TMCap for more than 9 years on average. All investment professionals sincerely work together under our slogan “Trust” to solve the management issues of our portfolio companies.
Transparency and close communication with our excellent investors
Investors of the funds we manage are highly qualified and understand the importance of medium- to long-term growth of companies. TMCap maintains a high level of transparency for investors and corporate governance in fund management through close communication with each investor.
Company Overview
| Name | T Capital Partners Co., Ltd. |
|---|---|
| Address | Otemachi Park Building 11F, 1-1-1, Otemachi, Chiyoda-ku, Tokyo 100-0004 Access |
| Founded | December 1991 |
| President | Koji Sasaki |
| Business | Management and operation of buyout investment funds |
| Business Operator Engaging in Specially Permitted Businesses for Qualified Institutional Investors, etc. | Filed in October 2007 |
| Financial Instruments Business Operator | Director-General of the Kanto Finance Bureau (Financial Instruments Business) No. 2374 |
| Membership | Japan Private Equity Association Japan Investment Advisers Association |
| Funds under management | TMCAP2016 Limited Partnership T Capital VI Limited Partnership |
History
| 1980s | Tokio Marine began its proprietary pre-IPO/late stage venture investing. |
|---|---|
| 1991 | Tokio Marine Capital was founded as a specialized PE investment arm for Tokio Marine (corporate venture capital). |
| Late 1990s | Began full-scale activities in PE investment including buyout as Tokio Marine Group |
| August 1998 | Began third-party fund management with “TMCAP98” (JPY 4 billion) (completed liquidation in March 2007) |
| October 2000 | Began “TMCAP2000” (JPY 22 billion) (completed liquidation in July 2009) |
| March 2003 | Began “New Wanbishi Partners” (dedicated fund for specific investment deal jointly with TMCAP2000) (completed liquidation in July 2008) |
| March 2005 | Began “TMCAP2005” (JPY 33 billion, buyout focus) (completed liquidation in September 2015) |
| August 2011 | Began “TMCAP2011” (JPY 23 billion) (completed liquidation in June 2020) |
| April 2013 | Signed the Principles for Responsible Investment for the first time as a private equity investment firm (GP) headquartered in Japan |
| October 2016 | Began “TMCAP2016” (JPY 52 billion) |
| October 2019 | Changed company name to T Capital Partners with the completion of management buyout from Tokio Marine Group |
| December 2020 | Began “T Capital VI” (JPY 81 billion) |
| January 2021 | Total commitments to funds founded to date exceed JPY 220 billion or $2.1 billion. |
Funds
| TMCAP98 (Liquidated) |
TMCAP2000 (Liquidated) |
TMCAP2005 (Liquidated) |
TMCAP2011 (Liquidated) |
TMCAP2016 (Under investment) |
T Capital VI (Under investment) |
|
|---|---|---|---|---|---|---|
| Date of foundation | August 21, 1998 | October 2, 2000 | March 25, 2005 | August 15, 2011 | October 21, 2016 | December 4, 2020 |
| Gross capital commitments |
3.7 billion yen | 22.3 billion yen | 32.6 billion yen | 23.336 billion yen | 51.728 billion yen | 81.094 billion yen (Note 1) |
| Investment target | Venture Buyout |
Venture Buyout |
Buyout | Buyout | Buyout | Buyout |
| Number of investees | 19 (Of those, 2 are buyouts) |
11 (Of those, 7 are buyouts) |
4 | 7 | 8 | 4 |
(Note 1) Including other investment entities established side by side with T Capital VI
Total fund commitments (Note 2)
(Note 2) Total fund commitments include 6.2 billion yen of a dedicated fund founded to jointly invest in Wanbishi Archives, the investee of TMCAP2000.
ESG (Environment, Social and Governance)
Philosophy on Responsible Investment
Trust is fundamental value for us. We believe, as investment firm, fulfillment of social responsibility to realize sustainable society through eternal prosperity of our investee companies shall ensure and outspread our trust. Besides we owe fiduciary duty to our investors as private equity fund manager.
We wish therefore to fulfill our social responsibility while making investments that are trusted by all of our investors.
Signatory of the Principles for Responsible Investment
Sharing a common understanding with the United Nations-supported Principles for Responsible Investment (PRI), we became a signatory to the principles in April 2013 as the very first time signer among all private equity fund managers in Japan.
The Principles for Responsible Investment were launched by former Secretary General of the United Nations, Kofi Annan, in April 2006. These, alongside the United Nations Environment Program and the United Nations Global Compact, provide a framework to incorporate environmental, social and governance (ESG) issues into investment decisions in a way that is consistent with fiduciary duties.
- We will incorporate ESG issues into investment analysis and decision-making processes.
- We will be active owners and incorporate ESG issues into our ownership policies and practices.
- We will seek appropriate disclosure on ESG issues by the entities in which we invest.
- We will promote acceptance and implementation of the Principles within the investment industry.
- We will work together to enhance our effectiveness in implementing the Principles.
- We will each report on our activities and progress towards implementing the Principles.