Qatar’s QIA, Orix to Start $2.5 Billion Japan-Focused PE Fund

Qatar’s sovereign wealth fund is teaming up with Orix Corp. to start a $2.5 billion private equity fund targeting Japanese companies, people familiar with the matter said.

The investment is Qatar Investment Authority’s first in a Japan-focused private equity fund, said the people, who asked not to be identified before an announcement. Orix will provide 60% of the capital, with QIA contributing the rest, the people said.

QIA joins a growing list of global investors seeing growing potential in buyouts in Japan. Firms from Blackstone Inc. to KKR & Co. have been stepping up investments in the country, where ...