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Christopher Flowers is back in Tokyo, eyeing a second opportunity to make money from Shinsei Bank Ltd.

The founder of New York-based private equity firm J.C. Flowers & Co. teamed up with Ripplewood Holdings LLC founder Timothy Collins to start Shinsei back in 2000 and, with it, an era of customer-friendly banking in Japan. The investor group then sold most of its holdings for a multibillion dollar profit.

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