Secondaries in Asia: Small beginnings
The global secondary investments industry announced its arrival in Asia not with a bang, but with a spate of office rentals. HarbourVest Partners’ moved first, relocating Tim Flower, a London-based vice president, to Hong Kong in October of last year. Lexington Partners followed suit a couple of months later when Kirk Beaton also made the journey from London to Hong Kong.
Although secondary investments have been present in Asia for some years - with the more mature markets of Australia and Japan leading the way - the major protagonists were mid-market firms. They were engaged...
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