American private investment firm Bain Capital is reportedly expanding its operations in Japan by increasing its staff headcount in the region by 25%.

The move comes as the interest in deals from businesses undertaking overhauls spurs competition amongst the private equity firms in the region, reported Bloomberg.

Last year, the company increased its Tokyo headcount by 25% to over 50 employees, by hiring investment professionals.

Bain Capital managing director David Gross-Loh told the news agency that the firm is now looking to ramp up the hiring programme.

The company invested over $2bn in Japanese transactions last year, including a take-private deal by nursing-home provider Nichiigakkan.

“While there is still uncertainty arising from the pandemic, we continue to see Japan as an extremely attractive investment destination,” Gross-Loh said.

As corporate Japan looks to utilise private equity firms to strengthen their profit divestments and management buyouts, firms such as Carlyle Group and KKR have beefed up hiring initiatives in Tokyo.

Japan moves by other companies

Last December, Vontobel Asset Management opened an office in Japan and named Goji Yoshino as the country head for Japan.

The company registered the Japan outpost as an investment advisory and agency business in the country.

In July last year, investment manager Grantham, Mayo, Van Otterloo (GMO) agreed to purchase Usonian Investments, a value-oriented Japan equity manager that manages over $1bn.

Earlier last year, it was reported that American investment bank Goldman Sachs is seeking to tap the rich in Japan by expanding its wealth management operations to the country.

The bank is anticipating assets under management of JPY1trn ($9bn) in the next five to ten years.

In 2019, Swiss banking group UBS and Japan’s Sumitomo Mitsui Trust announced plans to launch a new wealth management joint venture (JV) targeted at the affluent in Japan.

The Swiss bank, which operates in Japan through branches in Tokyo, Osaka, as well as Nagoya, held the controlling stake in the JV with a 51% holding.