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Japan’s Mizuho to acquire U.S. private equity agent Capstone, source says -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: This is a man passing by the logo of Mizuho Financial Group in front of Mizuho Bank’s Tokyo headquarters on May 18, 2011. REUTERS/Yuriko Nakao/File Photograph

TOKYO (Reuters), Mizuho Financial Group intends to buy U.S. private placement agent Capstone Partners as part of its expansion in investment banking.

Capstone, a Dallas-based private equity firm, helps to find partners for their funds. This allows them to raise capital for credit and private equity companies worldwide.

Capstone, which will be acquired by Mizuho in the United States after the transaction, is likely to become part of Mizuho’s American holding company. This, according to the source, won’t allow the identity to be revealed as the information was not made public.

Mizuho will not disclose the price of acquisition, according to the source.

Capstone Dallas’s office was closed during normal business hours.

Mizuho has been struggling at home to fix a series of system failures for years and is now set to name Masahiro Kikihara its senior executive officer to address the problem.

Capstone is part of Japan’s efforts to purchase more businesses abroad, in particular in countries with faster growth.

Mizuho is the third megabank, but it has been more slow than its bigger competitors, SumitomoMitsui (NYSE 🙂 Financial Group, and Mitsubishi UFJ Financial Group.

This news was previously reported by The Business Daily.

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