April 18, 2022

Aizawa Asset Management to launch 3rd Secondary Strategy Fund
（Ariake Secondary Fund III LP）

April 11, 2022, Tokyo, – Aizawa Asset Management Co., Ltd. (“AAM”), the alternative investment
management company in Japan, completed the first closing of its third secondary strategy fund,Ariake Secondary Fund III LP(“ASF-III”), on April 7, 2022, and has onboarded investors for its initialclosing phase.
The Cayman Islands domiciled ASF-III is, in accordance with its secondary strategy, to acquire low
liquidity assets such as fund LP interests to private equity funds as buy-out funds and venture capitalfunds, domiciled in and outside Japan, held with Japanese local investors, as well as unlisted company
shares held with private equity funds. The partnership fund is to co-invest along with top-tier
Japanese private equity funds.
AAM is, through the investment activities of secondary strategy funds including ASF-III, to provide
mainly the following functions to the Japan market: First, to offer an option of “exit before maturity”
of low-liquidity assets held with Japanese investors. Fund LP interests to private equity funds aretypical assets that are hard to liquidate before maturity, but we can assist investors in liquidating theirfund portfolio by acquiring such fund LP interests during its managing period. Second, to offer an
option of “exit at maturity” of private equity funds for liquidation of portfolio investments. AAM is
also willing to support both funds, which seek the maximization of collection from portfolio
investments by continuous holding, and Japanese local companies as investee companies, which wish
stable shareholder structure for further growth, by providing new capital for continuation of suchfunds.
AAM has been providing solutions for low-liquidity asset liquidation for investors with around 40
acquisitions of fund LP interest portfolios and 20 acquisitions of unlisted company shares of Japanesecompanies through its vintage funds in the form of Ariake Secondary Fund I LP (“ASF-I”) and Ariake
Secondary Fund II LP (“ASF-II”). Those acquisitions and collections created ASF-I and ASF-II with stable
and relatively higher returns for those global institutional investors.
ASF-II, which completed its final closing in April 2021, deployed 92% of its committed capital only inthe past 12 months, backed with better investment pipelines. This time, AAM aims to achieve a higher
return from the limelight of Japanese secondary investment market to offer solutions for rising needsof portfolio liquidation globally by launching ASF-III.

About Aizawa Asset Management
With, “Striving to become the leading Japanese alternative asset management company” as its
slogan, Aizawa Asset Management was established on Feb 1, 2021 as a result of a merger between
a pioneer in Japanese hedge funds and a niche player in secondary strategies of Japanese private
assets. The company offers various alternative investment strategies, namely a Japanese equity
long/short strategy, a value-up strategy, an insurance-linked strategy, an Asian trade financestrategy, and private equity secondary strategies to local and global investors.
Address: 7th Floor, Tokyo Shiodome Building, 1-9-1 Higashi-Shimbashi, Minato-ku, Tokyo 1057307 JapanCEO:

Shinichiro Shiraki

For further inquires:
Aizawa Asset Management Co., Ltd.
Contact: Client Solutions
Email: clientsolutions@aizawa-am.co.jp
Tel： +81-(3)-6263-9690