Asia
European infrastructure: Bubble at the core
Asian investors are drawn to the diversification and yields offered by European infrastructure, but certain segments of the market are overheating. Prices are getting bid up and returns are likely to be pushed down
Former ADB executive named EMPEA CEO
The Emerging Markets Private Equity Association (EMPEA) has named Robert W. van Zwieten as its president and CEO, following the departure of founding president Sarah Alexander earlier this year. His appointment is effective immediately.
Cambridge Associates to offer discretionary services in Singapore
Cambridge Associates has received a license to offer discretionary portfolio management services via its Singapore affiliate. The group has been operating in Asia since 2001, offering independent research and advisory services to institutional investors....
LP interview: Hermes GPE's Saki Georgiadis
Two years since opening an office in Singapore, Saki Georgiadis, head of Asia for Hermes GPE, reflects on the benefits of having an on-the-ground presence in Asia
MGPA deal expands BlackRock's Asia footprint
Asia Square, a twin tower complex in Singapore's Marina Bay, is set to be city state’s most environmentally friendly building. Designed by architects Denton Corker Marshall, it will house the world’s largest solar panel roof installation and the first...
The case for an LP presence in Asia
Time zones are a thorn in the side of LPs seeking to be more than just passive capital providers and participate more fully in GP relationships. The reality for the North American contingent that still meets the bulk of Asian managers’ capital needs is...
Q&A: Intel Capital's Sudheer Kuppam
Sudheer Kuppam, managing director for India, Japan, Australasia and Southeast Asia at Intel Capital, outlines his plans to usher Asian consumers onto technology platforms by meeting local needs in local languages
Structured solutions: GPs consider equity alternatives
Mainstream GPs in Asia are becoming more open to investments based on debt rather than equity, addressing entrepreneurs' reluctance to give up stakes in their businesses. How significant is the opportunity?
Warburg Pincus raises $11.2b for global fund
Warburg Pincus has reached a final close of $11.2 billion on its latest global fund, one of the largest private equity vehicles raised since the global financial crisis. The firm fell short of its $12 billion target – as well as the $15 billion amassed...
Carlyle reaches $1.5b on fourth Asia buyout fund
The Carlyle Group has so far raised $1.5 billion for its fourth Asia buyout fund, which is expected to reach a final close of $3.5 billion by the end of this year. William E. Conway, the private equity firm’s co-founder and co-CEO, said in the first quarter...
Canary in the coal mine: GP economics under stress
Still dealing with the fallout from a fundraising boom, mid-market PE firms in Asia face the prospect of smaller vehicles in coming vintages, and team volatility comes as part of the package
Baring Asia-owned Nord Anglia completes WCL bolt-on
Nord Anglia Education, an international schools operator owned by Baring Private Equity Asia, has completed the bolt-on acquisition of WCL Group for $222 million. The deal strengthens Nord Anglia’s presence in North America and the Middle East, taking...
NYSTRS commits $85m to KKR's second Asia fund
New York State Teachers’ Retirement System (NYSTRS) has committed $85 million to KKR’s second Asia fund. The vehicle had received $4.8 billion from investors as of mid-April and is expected to announce a final close of $6 billion within the next two months....
Haves and have nots
It probably comes as no surprise to most readers that Asia Pacific fundraising in the first quarter of 2013 was much slower than in the past. When I covered the tough fundraising conditions in the March 18 viewpoint, I observed that the market is divided...
CalSTRS commits to FountainVest, Bain Asia funds
The California State Teachers’ Retirement System (CalSTRS) committed $120 million to Asia-focused GPs during the final three quarters of 2012, according to a recent disclosure. The pension system also revealed that its private equity portfolio delivered...
Blackstone targets $4b for Asian real estate fund - report
The Blackstone Group is said to be targeting $4 billion for its Asian real estate fund, making it the largest real-estate fund ever devoted to the region.
eFront launches Sydney office
Financial software provider eFront, a leading supplier to alternative investment managers, has opened an office in Sydney. This is the company’s first foray into Australia but its fifth base in Asia Pacific, complementing existing locations in Beijing,...
University of Michigan commits to Morgan Stanley Private Equity Asia IV
The University of Michigan has committed $25 million to Morgan Stanley Private Equity Asia’s (MSPEA) fourth pan-regional fund. The vehicle, which reached a first close of $750 million towards the end of last year after less than six months in the market,...
Kuwait-based Asiya launches Hong Kong operation
Kuwait’s Asiya Investments has opened a Hong Kong office, only its third service center globally, in response to rising demand from Arab investors for exposure to Asia.
Carlyle passes $1b mark on fourth Asia buyout fund
The Carlyle Group has raised more than $1 billion for its fourth Asia buyout fund, having reached a first close of $700 million last December, according to sources familiar with the situation. The private equity firm is targeting a final close of $3.5...
New Mexico State Investment Council commits to Affinity Fund IV
New Mexico State Investment Council (NMSIC) has agreed to invest up to $75 million in Affinity Equity Partners’ fourth pan-Asia fund. The vehicle reached a first close of $1.5 billion in early March and has a hard cap of $3.5 billion.
Q&A: Baring Private Equity Asia's Jean Eric Salata
Baring Private Equity Asia closed its fifth fund at $2.46 billion in early 2011. CEO Jean Eric Salata tells AVCJ why the firm has taken its time investing the capital and where he now sees value emerging in the market
New Jersey commits $500m to Blackstone's debut Asia real estate fund
New Jersey Division of Investment plans to commit $500 million to The Blackstone Group’s debut Asia real estate fund. The vehicle’s existence was confirmed last December when Tony James, Blackstone’s president, told a conference that it was a “golden...
AVCJ at 25: Michael Chae of The Blackstone Group
Michael Chae, head of international private equity at The Blackstone Group, arrived in Asia after the global financial crisis and as the pre-IPO fever was about to turn. Changing times require changing strategies