SBI-backed Japan firm plans $630m fund to buy cross-held shares

TOKYO -- Japanese investment firm Keystone Partners will set up a 100 billion yen ($630 million) fund to purchase companies' cross-shareholdings, smoothing the way for sellers that face difficulty unloading them on the market. 

Keystone, which is more than 30% owned by financial group SBI Holdings, will reach out to businesses looking to sell, negotiate a price, then dispose of the acquired stock over time via channels such as buybacks or third-party placements.