Rise of the China PIPE deal
It has taken Indian fund managers years to convince their LPs of the merits of PIPE deals, and efforts haven’t been wholly successful. The knee-jerk response, “Why should I pay you fees to invest in companies that I could just invest in myself?” had to be gently countered by observations on the merits of flexibility. Ignoring 7,000 companies because they are publicly listed doesn’t necessarily make sense when some might be mismanaged gems trading at attractive valuations.
Are we about enter a similar debate on China PIPE deals? The plunge in public market valuations has certainly made such transactions more of a talking point among investors. At AVCJ's recent China Forum,...
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