Analysis >> Regulation
Regulation: Dialogue in the dark
The Committee on Foreign Investment in the US has a huge a backlog of applications to process and a staffing shortage. Potential buyers have little choice but to be patient
China M&A: Outbound 2.0
Following the issuance of regulatory guidance, the aggression and opportunism that once characterized corporate China’s approach to overseas M&A will be replaced by moderation and consideration
Korean fintech: Financial times
Korea’s financial technology sector is affording start-ups disruption opportunities based on an outdated infrastructure environment. Early movers are experimenting with a number of business models
Korea securities firms: Brokerage bonanza
Korean securities firms are building PE teams with a view to raising capital from third-party investors. There is government support for these efforts, but independent GPs aren’t worried about increased competition
India's goods and services tax: A fair fight
While India’s new goods and services tax regime has caused temporary dislocation, private equity players are confident that their portfolio companies are set for long-term success
PE executives in government: Late to the party
With private equity executives playing an unprecedented role in the Trump administration, the advantages that PE can bring to government – and vice versa – has come into the spotlight
Hong Kong tech IPOs: Compromise solution
Hong Kong wants to reinvest itself as a destination for Chinese technology listings with a new board that would be open to companies that are pre-profit and have dual-class share structures. Will it fly?
PE and Islamic finance: Underlying themes
Encouraging trends in population, social mobility, commodities, technology, and governance standards are converging on Islamic finance. PE plays a small role with strong upside in Asia
India demonetization: After the storm
In the aftermath of India’s demonetization policy, the direst predictions have failed to materialize. But the experience has also shown how little power PE firms have in some situations
Vietnam SOEs: Shifting ground
Vietnam’s state-owned enterprise (SOE) privatization initiative continues to produce investment opportunities, but private equity firms must be prepared for a hard sell when negotiating
Indonesia resources: Storms and blue sky
Indonesia’s resources sector has proven a socially and politically tumultuous investment environment in recent years. GPs are monitoring the headline issues and maintaining long-term confidence
China outbound M&A: The smarter money
Despite regulatory curbs on Chinese outbound investment, companies are still interested in M&A opportunities – and they are pursuing less high-profile assets with greater sophistication
China outbound M&A: Time will tell
Restrictions on outbound investment have China’s investor community scrambling to adapt, but devising a proper response depends on future decisions from notoriously opaque regulatory agencies
Cost conundrum: Super funds, fees and private equity
Australian regulators want greater consistency in how superannuation funds report costs and fees to members. While sound in principle, the draft measure is problematic in practice, especially for private equity
Hong Kong tax: A life less certain
Hong Kong introduced legislation intended to give private equity investors greater tax certainty, but the implementation guidelines have moved it further from this goal. The implications could be wide-ranging
Tech & government: Living laboratories
As governments of Southeast Asia’s emerging economies look to create more workable VC policy environments, start-ups and investors have proliferated across a patchwork of imperfect systems
Tech & government: 20 years of early days
Since the dawn of the internet in the mid-1990s spurred a global rebalancing of economic power, Asia’s newest VC heavyweights have raised questions as to how this technology-driven shift will be governed
Hong Kong tax policy: An unfortunate first
Hong Kong is the only major international center openly seeking to treat carried interest as income rather than capital gain for tax purposes. The private equity industry wants to know where it stands
Asia PE-backed IPOs: Fits and starts
Development has been inconsistent in Asia’s IPO markets, with frequent pacing issues and challenges unique to each region. But in the right hands, they can still be highly rewarding for PE investors
China regulation: Low-gear revolution
A nationwide extension of the relaxed foreign investment policies available in China's free trade zones should simplify a cumbersome deal-making environment. Wider sector openings, however, remain on hold
Taiwan regulation: Forward views, sideways moves
The Taiwan government is attempting to reconcile its conservative tendencies with a need for innovation as the local venture capital industry marks mixed progress in filling an early-stage vacuum
Not-so private equity: An industry responds to US regulation
As regulatory pressure to increase fee transparency among US private equity funds ramps up, the industry will have to learn how to follow new rules, even as they’re being formed
American dreams: China targets US semiconductor assets
Chinese interest in semiconductor assets has again put the Committee on Foreign Investment in the US under the spotlight. Not all deals get through, but corporate China is generally braver and better informed
China SOE reform: No change?
The mixed ownership model that features in China’s latest push on state-owned enterprise reform sounds exciting in theory but some private equity investors must revise their expectations in practice