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Creating Investment Value Through a New Framework

We have been involved in a wide range of investments—from growth investments and buyouts in Japan to various opportunities across the Asian region. Walking alongside companies in their journeys of growth and transformation, and pursuing long-term value creation together with our investors, has been a source of great pride for us.

Now, with Felicity Global Capital Pte. Ltd. based in Singapore and Felicity Capital Co., Ltd. in Japan as our two core entities, we have established a new corporate structure to drive our fund operations more strategically and dynamically. Our focus will be on two main pillars: investments in Asian companies and succession investments within Japan.

Through this restructuring, we have strengthened our expertise in each region and sector, and built an operating framework that can respond to new challenges with greater agility and flexibility. Going forward, we will not limit ourselves to existing investment areas, but will boldly venture into new domains beyond our current scope. By making flexible yet fundamental investment decisions in the face of a constantly changing economic environment, we aim to create sustainable value.

The name Felicity means “bliss” or “supreme happiness.” It reflects our wish to deliver “happy outcomes” not only to our investors and portfolio companies, but also to all stakeholders—including society at large—through our investments.

In this era of change, we move forward into a new phase with sound judgment and strong execution. We sincerely thank you for supporting the first step of the Felicity Group’s new journey.

July 31, 2025
Felicity Global Capital Pte. Ltd.
Felicity Capital Co., Ltd.
Group Representative
Tomohiro Fujita

News
Notice Regarding Changes to the ACA Group’s Corporate Structure (Company Names, Representatives, etc.)
July 31, 2025

(New Name) Felicity Global Capital Pte. Ltd.
(Former Name) ACA Investments Pte. Ltd.

Since its establishment in 2008, the ACA Group has operated investment funds based in Japan and Singapore, forming and managing funds across diverse areas such as buyouts, business succession, healthcare, Asian investments, and secondaries. Over the past 17 years, we have built a strong track record in these fields.

We hereby announce that, effective July 31, 2025, our Group’s corporate structure (including company names and representatives) will change as follows.

Changes Related to the Singapore Entity

Effective July 31, 2025, ACA Investments Pte. Ltd. (“ACAI”), our Singapore-based entity, will change its name to Felicity Global Capital Pte. Ltd. (“FGC”). In conjunction with this, the 66% voting rights in ACAI previously held by ACA Partners Pte. Ltd. (“ACAP”) will be transferred to Felicity Global Holdings Pte. Ltd. (“FGH”).

Mr. Tomohiro Fujita, who has served as Chief Investment Officer (CIO), will assume the role of Group Representative for FGC. Mr. Akihiro Azuma, who has served as ACAI’s Representative, will step down from that role but will continue as the Representative of ACAP.

The capital and business alliance between Daiwa Securities Group Inc. and ACAI, concluded in 2018, will be succeeded by FGC, ensuring that the cooperative relationship continues. There will be no changes to the management or operation of the funds currently managed by ACAI; FGC will continue to manage all such funds with full responsibility.

Changes Related to the Japan Entity

From ACA Co., Ltd. (“ACA Japan”), a wholly owned subsidiary of the former ACAI, the Daiwa ACA Business Succession Funds No. 1 and No. 2, along with their associated team members, have been separated via a corporate split and transferred to a newly established company, Felicity Capital Co., Ltd. (“FC”).

FGC has acquired all shares of FC. Going forward, FC will serve as a core company of the Felicity Group, managing funds primarily in the business succession field.

New Operational Structure

With this reorganization, the businesses previously operated under the same group have been reorganized, and will now be managed independently as follows:

FGC Group (FGC/FC):

Based in Singapore, managing Asian investment businesses.

Operating buyout funds, including business succession funds in Japan.

ACA Japan:

Continuing to operate buyout and secondary funds based in Japan.

Capital relationship with the Felicity Group (formerly ACAI Group) will be dissolved.

Going Forward

With this restructuring, the FGC Group will operate under a new independent framework, pursuing business development individually. By leveraging our strengths and expertise, we will continue to provide high-quality investment services to our investors, portfolio companies, and all stakeholders.

We sincerely appreciate your continued support and patronage.

Company Profiles

Felicity Global Capital Pte. Ltd.

Chairman: Tomohiro Fujita
Address: 6 Temasek Boulevard #29-04 Suntec Tower Four, Singapore 038986
Capital: SGD 13,716,823
Business: Fund management
Subsidiary: Felicity Capital Co., Ltd.
Contact:
Singapore: ‪+65-6890-0730‬ (main line)
Japan (forwarded to Singapore HQ): ‪+81-3-5357-1026‬

Felicity Capital Co., Ltd.

President & CEO: Tomohiro Fujita
Address: 6th Floor, Nagatacho Glassgate, 2-16-9 Hirakawacho, Chiyoda-ku, Tokyo
Capital: JPY 10 million
Business: Fund management
Contact: ‪+81-3-5375-1025‬ (main line)

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