VIDEO: Steve Koltes of CVC Capital Partners

"In terms of the total PE business, it is about 20% and I think it will grow. We have opened new territories - Southeast Asia, for instance, having done deals in Malaysia, Indonesia, the Philippines - in additional to the traditional territories of Japan, Korea and Greater China," Koltes said.

With Europe and the US unlikely to see much growth, he expects the Asian share of CVC's private equity assets under management to reach 25-30%. However, at the same time, opportunities in Asia will increasingly have a global angle as regional portfolio companies receive assistance as they expand overseas.

"Take SPi Global, the Philippines business we bought [earlier this year]: we actually did that as a joint deal between the Southeast Asia team and the US team because they had quite a big business in the US," Koltes said. "I don't think there are many firms that can seamlessly and easily do those sorts of deals that bring the Asian companies to the European and US markets."

CVC is currently raising its fourth Asia-focused fund, reportedly reaching a first close of $2 billion this month. The firm's sixth Europe and North America vehicle closed earlier this year at the hard cap of EUR10.5 billion, with most commitments coming in the space of six months.

Comparing the processes for Fund VI and its 2008 vintage predecessor - which saw strong initial demand before the global financial crisis hit, after which fundraising became more challenging - Koltes identified the key differentiating factor as perceptions of Europe.

"In 2008, Europe really wasn't an issue per se - at least they hadn't realized it yet. In 2013, Europe is much more of an issue. Is Europe going to survive? Is the euro going to survive?" Koltes explained. "What helped us quite a bit was in 2012 when the European Central Bank drew a line under the euro said, ‘We are going to save it no matter what.' That is when sentiment started to tick up a little more."

He agrees that CVC has benefited to a certain extent from a flight to quality as LPs, still once bitten twice shy following their experiences during the global financial crisis, go with brand names they know best.

"Of course, there are some very good small players that have their following and can always raise money," Koltes said. "But in general LPs are much more detail-oriented, want to inform themselves better and will tend to go with the big global firms."

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