AVCJ

Weekly digest - September 14 2022

Weekly digest - September 14 2022
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14 September 2022
KOREA: A GOOD TIME TO BE DIFFERENT?
COVER STORY
Macro uncertainty and liquidity risk are pushing Korean GPs to think beyond buyouts, double down on operations, and consider all their exit options.
TALKING POINTS
AVCJ AWARDS 2022 - NOMINATIONS CLOSE SEPTEMBER 22
Industry participants have until September 22 to put forward firms, fundraises, investments, and exits they believe worthy of consideration. For more information, go to www.avcjforum.com/awards.
PROFILE
KEVIN LEE OF CRESCENDO EQUITY PARTNERS
KEVIN LEE OF CRESCENDO EQUITY PARTNERSKevin Lee founded Crescendo Equity Partners to spot overlooked Korean technology suppliers and reposition them as global leaders of their niches. This required a rare combination of skills.
FUND FOCUS
BARING RESTOCKS ITS DRY POWDER
BARING RESTOCKS ITS DRY POWDERBaring Private Equity Asia claims a pipeline full of USD 1bn-plus investment opportunities to meet the needs of an USD 11bn-plus fund – but for now it is being cautious about pursuing them.
DEAL FOCUS
ANCHORAGE EXITS RAIL OPERATOR, LAUNCHES FUND IV
ANCHORAGE EXITS RAIL OPERATOR, LAUNCHES FUND IVAustralia-based Anchorage Equity Partners has extended a string of exits in recent months with the sale of rail operator, while going to market seeking AUD 500m (USD 339m) for its fourth fund.
DEAL FOCUS
L'OREAL SHOWS ITS STAYING POWER
L'OREAL SHOWS ITS STAYING POWEREurope-based personal care giant L'Oréal looked past short-term impediments like lockdowns and asset price corrections to join Cathay Capital in supporting Chinese perfume brand Documents.
By the Numbers
AVCJ RESEARCH
A ROCKY ROAD IN HONG KONG
Does the flurry of new filings by private equity-backed companies - including high-profile names like Leapmotor, Fourth Paradigm, and Keep - suggest that Hong Kong is getting over its IPO funk? It remains to be seen, but 2022 has been dismal to date. According to AVCJ Research, there have only been about half a dozen offerings by companies with financial sponors with total proceeds falling short of USD 1bn. This compares to USD 17.7bn from around 30 IPOs in 2021. Most recently, Dingdang Health made it to the finish line, albeit with far fewer proceeds than expected when the company first sought to list last year (it was rejected). Others, however, have fallen short, with YH Entertainment pulling the plug during the pricing process.
CHART
All of the trends featured here were sourced from AVCJ's proprietary database, AVCJ Research, featuring comprehensive information on private equity deals, fundraises and exits.
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UPCOMING EVENTS

 

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