The combination of a maturing Asian private equity landscape and a fast-emerging continuation fund opportunity is placing greater emphasis on the role of the LP advisory committee
Global expansion remains a bright spot in China’s investment landscape as private equity firms slow deployment domestically in favour of supporting China-related entrepreneurs or business concepts in other markets, the AVCJ Private Equity & Venture...
The Carlyle Group and Trustar Capital, private equity owners of McDonald’s China, are poised to abandon plans for a single asset continuation fund in favour of exiting part of their holdings and rolling over the rest into other funds.
Few, if any, LPs are so desperate to divest China exposure that they will sell fund positions at any price. The main sticking point for secondary transactions is a disconnect on valuations
Australia's Pacific Equity Partners (PEP) has raised a single-asset continuation fund of approximately AUD 400m (USD 268m) for Up Education, a vocational education business it has held since 2015.
Placement agent Monument Group has merged with Mozaic Capital Advisors, a US-based boutique advisory firm focused on secondary transactions, following an eight-year strategic partnership.
Private credit and secondary continuation funds have emerged as popular themes globally as high interest rates, geopolitical tensions, and macro uncertainty persist, GPs told the AVCJ Private Equity & Venture Forum Japan 2023.
A pullback by US investors is exacerbating difficult fundraising conditions in China. Most managers are either delaying their return to the market or pulling every lever to secure commitments
Generating liquidity and rebalancing portfolios are the overwhelming priorities for LPs looking to sell in the secondaries market in the next two years, according to Coller Capital’s latest private equity barometer survey.
NewQuest Capital Partners and GIC have supported a USD 267m continuation fund for Capital Group Private Markets spinout Everbridge Partners, two years after a larger deal involving some of the same assets failed to close amid portfolio volatility.
Secondaries investors see a lot of potential GP-led deal flow coming out of China, but completion rates are being held back by caution among buyers and a reluctance among sellers to compromise on valuations.
Boutique investment bank Greenhill, arguably best known in private equity for advising on LP and GP-led secondary transactions, has agreed to an acquisition by Japan’s Mizuho Financial Group.
Dennis Kwan, formerly of Chinese private equity firm Harvest Investments Management and placement agent MVision, has joined boutique investment bank Jefferies to lead secondaries coverage in Asia.
Asia secondaries specialist Foundation Private Equity has acquired stakes in three portfolio companies held by India’s Carpediem Capital through the purchase of new and existing shares.
BDA Partners, a global boutique investment bank that focuses on Asia, has entered the private capital advisory (PCA) space with the appointment of secondaries specialist Dominik Woessner.
Private equity investors at the Mergermarket M&A Forum Southeast Asia sensed that something has to give in a deadlocked regional exit market, where the bid-ask divide could break in either direction.
Coller Capital has completed the first deal from its debut renminbi-denominated secondaries fund, participating in a CNY 315m (USD 46m) GP-led transaction involving healthcare assets held by Chinese VC firm Legend Capital.
As macro uncertainties add red tape to fundraising processes and oblige some managers to operate on a deal-by-deal basis, the improvisational, survivalist nature of Asian private equity is on display
17Capital is a credit provider to the private equity industry, lending against fee streams at the GP level and the fund level. Pierre-Antoine de Selancy, the firm’s managing partner, assesses the market
Capital Square Partners and Basil Technology Partners have joined forces, with HarbourVest Partners, NewQuest Capital Partners, and Committed Advisors backing a USD 700m fund comprising Asia IT services investments from both GPs
TR Capital has sold China-focused luxury streetwear brand Evisu United – one of two assets it acquired through fund restructuring for Cassia Investments – through a sale to an unnamed financial sponsor. The size of the deal was not disclosed.
TR Capital first worked with Samara Capital on a single-asset continuation fund for Sapphire Foods India – and saw the local Yum Brands franchisor go public about three months after the deal was announced. It has now reunited with Samara for what amounts...
Fundraising is difficult for all but the fortunate few private equity managers in Asia. GPs are delaying launches, shaking up strategies, and offering sweeteners; LPs are in no hurry to make commitments
IPOs and trade sales have been muted in 2022, but industry participants expect strategic investors to be more active in Asia next year, especially as valuations moderate. Increased secondary deal flow is also likely