Japanese Parking Company is the first exit from Riverside Asia-Pacific Fund
The Riverside Company has completed the first exit from its Riverside Asia-Pacific Fund I (RAF I). The successful realization of Japanese coin parking lot operator Shinsouki comes after four years of steady organic and add-on growth following Riverside’s 2008 acquisition.

Shinsouki is the largest operator of parking lots in Niigata City. Through the 2009 acquisition of MAOS, the company added a strong presence in Tokyo. Most of the lots the company operates are unmanned, and built on leased land in high-density areas. The company combines deep knowledge of its geographies with close relations with landowners to develop lots in favorable and profitable areas. Shinsouki and MAOS collectively operate and manage more than 8,000 parking spaces.

“This is a tremendously rewarding realization for a variety of reasons,” said RAF Fund Manager Stuart Baxter. “As the first platform investment Riverside ever made in...