Private equity and the state
The state, particularly in Asian countries, has always played a big role in the private equity industry. While almost all growing regional economies have helped nurture PE through sovereign wealth funds – fueled by foreign exchange and other cash reserves – participating as limited partners or co-investing in deals. Some of these sovereign funds have also competed with private equity as buyers of assets in Asia and the West.
The Chinese government, in its various levels, has been influential in private equity over the last few years. While the difficulty in acquiring regulatory approval for certain deals remains an obstacle...
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