December 26, 2016
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Assignment of all the stakes in Universal Home, Inc. (70.21% of the total outstanding shares) held by the investment fund managed by DRC Capital (Japanese Limited Partnerships DRC I) was completed on December 26, 2016. The stakes were sold to Iida Sangyo Co., Ltd., a core company in Iida Group Holdings, Co., Ltd., the Japan's largest housing developer group. DRCI has been instrumental in enhancing profitability and the growth of Universal Home after its investment in November 2008. Iida Sangyo will take over the business growth by exerting synergies expected between the two companies.
With this divestment of Universal Home, DRCI has completed all its investment activities which resulted in the fund's overall investment return of 19% in a gross IRR, and it will move on to winding-up of the fund.
