The rise of holdco PIK debt has created Australia-based financing structures in which senior lenders and mezzanine providers can coexist. They also offer GPs greater flexibility at what...
Financing | 06 May 2015
It has become increasingly costly for private equity firms to access borrower-friendly US financing for leveraged buyouts in Asia. The US markets are fickle and volatile, but Asian banks are also stepping up
Financing | 22 Apr 2015
There is money to be made providing debt-based solutions to growing Indonesian companies that struggle to get financing from other sources. But enter uninformed or unprotected at your peril
Financing | 18 Mar 2015
Led by SVB India, venture debt providers are beginning to take root in India. Can this nascent asset class replicated its success in developed markets and become a viable option for domestic start-ups?
Financing | 04 Feb 2015
Investors see great potential in Asia’s private debt markets, but some GPs and LPs’ attitudes towards downside protection and enforceability keep them out of emerging markets
Financing | 19 Nov 2014 |
The rise of peer-to-peer lending businesses in China is good for small companies that can't get bank financing and VC firms looking to ride the next wave. But concerns remain over regulation and reliability
Greater China | 15 Oct 2014 |
With bumper LBOs few and far between, banks see limited opportunities for leveraged finance in Indonesia. And in the prevailing economic climate, they aren’t generous at acquisition or operating company level
Financing | 12 Mar 2014 |
The low-hanging fruit created by the post-global financial crisis troubles of highly-leveraged Australian companies has mostly been picked. Distress investors are looking in smaller and less obvious places
Distressed/Special Situations | 26 Feb 2014 |
Once regarded warily by banks due to the lack of security in providing offshore financing against onshore assets, Asia buyouts that rely on offshore holdco structures are increasingly sought after.
Financing | 16 Oct 2013 |
The withdrawal of Western banks from Australia's leveraged financing market has created opportunities for others. A general sense of caution means that, while debt is available, it won't necessarily come quickly
Financing | 27 Feb 2013 |
Burning through cash and with no public market exit in site, many of China’s e-commerce players are losing the confidence of their investors. New rounds of funding come at depressed valuations – if they come at all
Venture | 20 Feb 2013 |
Numerous private equity and hedge funds are pursuing alliances with one another in Asia. Could a multi-strategy approach be the golden strategy for the region’s investment environment?
GPs | 22 Aug 2012 |
Australia’s banks have proposed a standard set of rules on who can do what in the event of a default. They say it will stimulate the mezzanine market but junior lenders claim the measures are too restrictive
Mezzanine | 29 Feb 2012 |
Spooked by wider economic issues, European banks are pulling back from the leveraged buyout market. This presents a further challenge to private equity firms already adjusting to tighter financing conditions
Financing | 08 Feb 2012 |
Until two months ago, Han Ming Ho, a Singapore-based partner at Clifford Chance specializing in fund formation, had never heard of buyout firms using his home city as a conduit for investments into Australia. “It had never been mentioned before and...
Southeast Asia | 06 Oct 2011 |
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The Australasian alternative assets industry is evolving and this is creating a new set of challenges for participants. Funds seeking new commitments typically require the lion share to be from offshore, the deal environment is competitive and in general market activity has slowed reflecting the regions overall macro-economic story. However, a handful of funds have had successful fundraises and it is clear that the GPs that measure up when benchmarked on a global stage will continue to drive the domestic industry forward.
This is an intriguing time as Australasian PE matures. Succession planning strategies, sourcing offshore commitments, creating a team that can deliver real operational value, customising the PE model and finding attractive investment and exit opportunities in a slow market are all key topics for debate.
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9-10 March 2016, China World Summit Wing, Beijing