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MUS in a strategic alliance with Joseph Perella’s new gig May 22, 2006

Posted by fukumimi in Finance, Japan.
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Mitsubishi UFJ Securities (part of the MUFG group of which our firm is also a member) has announced that it is investing $100M in Joseph Perella's new financial services outfit, which is still in stealth mode and bears no name. It has been reported that Perella was looking for about $1B in total, so this chunk of money is a significant position for a Japanese securities house. 

The PR is here 

With financial deregulation which will allow overseas companies to engage in M&A activity targetting Japanese companies more freely, cross border M&A dealflow with Japanese players is likely to become more active.

MUS, whilst a second tier securities/investment house in terms of scale (top tier being Nomura, Daiwa and Nikko), is a member of the world's largest financial group (MUFG), has strong ties to the Mitsubishi "keiretsu", and compared to top tier houses has less overseas exposure which makes sense from a geographical fit perspective, with Perella having announced that his outfit will have offices in New York, London and the Middle East. 

It'll be interesting to see if MUS can be an effective partner for Perella and company (who have attracted not only some significant names from MS, but from GS and others as well).

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