Fundraising hits a record quarterly high, thanks entirely to Chinese government-backed vehicles; Australia, Southeast Asia compensate for investment slowdown in China; India shines on exits
Selling Asian LPs on private credit strategies remains difficult for the most part, but fund managers are generally confident that interest in the asset class is set to take off
After several years of rapid growth, secondaries volumes slowed in the first half of 2016, while fundraising reached an all-time high. Opinion is divided on the prospects for an increasingly nuanced market
The proliferation of side letter provisions submitted by LPs as conditional on their participation in a fundraise is adding to administrative workloads. Private equity firms must negotiate carefully
Fee discounts and co-investment often dominate GP-LP discourse, but longer-term issues surrounding economics and governance are increasingly important to negotiations over some Asian GPs’ fund terms
China shores up Asia investment activity, driven by tech-related deals; robust VC fundraising in China, Southeast Asia masks weak region-wide activity; volatility prolongs the exits downturn
Deal-by-deal investment is gaining traction in Southeast Asia due to a reluctance to back blind pool funds in the region and highly localized deal-sourcing. It is unclear whether the dynamic could, or should, remain
Asian secondaries players are counting on an explosion in demand for alternative liquidity solutions over the next few years, but cutting deals in this niche market requires a nimble approach
There is growing interest among Japanese institutional investors for exposure to alternatives. However, this doesn’t mean commitments will come quickly, or go to private equity first
After a dormant 2015 during which no funds were raised, New Zealand has seen a flurry of activity in the first half of this year. It is piquing enthusiasm – albeit cautiously – for a fledgling VC space
GPs in Asia are devoting more resources to investor relations in response to increased reporting requirements and a challenging fundraising environment. But finding the right IR formula is not easy
Whether they are US dollar managers upgrading their LP bases or renminbi GPs tapping offshore investors for the first time, China PE firms increasingly see the reputational value of independent administration
As Thailand’s government signals its intention to embrace venture capital, the harder but less visible work of transforming a traditionally risk-averse culture grinds on
The forces behind a bumper year for South Korean venture fundraising serve as a reminder that local players must do more to build much-needed international relationships
Having spent the last couple of years in a politics-driven limbo, Australia’s renewable energy sector is seeing renewed investor interest. Nevertheless, the market still presents various challenges
Only the good prevail as LPs appear wary of China funds; investors continue to seek technology start-up exposure but the check sizes are falling; Korea delivers exits, but other markets fail to shine
Over the past three years, Standard Chartered has completed Asia’s largest secondary direct deal and put its PE unit in a position to raise fresh capital. But it is not necessarily a harbinger of things to come
Renminbi-denominated fund-of-funds have found a new lease of life in China as new private sector entrants and reformed state-backed incumbents look to tap a growing domestic LP base
The rapid growth of online finance technology has turned China into a hotbed for illegal fundraising, with local PE fund managers drawn into the mess. Can new regulation restore investor confidence?
Australia’s innovation agenda is intended to serve as the foundation stone of a technology-driven economy. Do the promises made to start-ups address areas where they want to see change?
While Australia’s lower middle market still offers opportunities for conventional GPs, some managers see growing potential in alternate fund models. Skepticism is strong among their peers
Wary of blind pools and keen to play a more active role in private equity, family offices are considering direct investment opportunities. Strategies and capabilities vary, as does the level of risk
At $920 million, Sequoia Capital latest India fund is the largest ever VC vehicle raised in the country. How will the technology sector accommodate this quantum of capital?
Growing appetite for co-investment among foreign and local institutions in Asia has given rise to a wider variety of advisors offering customized solutions to those with limited in-house resources