Big is Better: Are mega funds making a comeback?
As the Asian private equity industry's biggest funds gear up for the next big round of fundraising, the question that comes to mind is “how large will Asian private equity funds become?” While Asian funds will still have a long way to go before they can justify 10-digit vehicles, it will come as no surprise that, given the buoyant economies of Asia and increasing valuations of target companies, larger funds for established Asian funds is well justified.
Take, for example, Baring Private Equity Asia and the $2.46 billion it raised for its most recent fund. Marketing begun last year with a target of (only) $1.75 billion, yet interest was so strong that...
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