Asia-focused buyout managers do not expect an economic downturn to impact the returns underwritten into investments at the portfolio level as long as leveraged financing remains competitively priced and new paths to liquidity continue to emerge.
Polaris Capital Group has reached the hard cap of JPY150 billion ($1.4 billion) for its fifth Japan buyout fund and expects to announce a final close later this month, according to CEO Yuji Kimura.
Buoyed by strong macro fundamentals and robust returns, Japan’s buyout managers continue to attract capital while most other strategies across Asia struggle. Will this popularity be sustained?
Texas County & District Retirement System (TCDRS) has put $200 million towards Hillhouse Capital’s latest Asia fundraising effort, committing to three separate funds.
FountainVest Partners has set a target of $2.8 billion for its fourth China-focused fund, with a first close of more than $1 billion expected as soon as this week.
China's Hillhouse Capital has split its current fundraising effort into separate buyout and growth strategies – having raised a single pool in the previous vintage – and is seeking $12 billion across the two funds.
Polaris Capital Group has won support from Pennsylvania Public School Employees’ Retirement System (PSERS) for a Japan buyout fund of up to JPY150 billion ($1.4 billion), twice the size of its 2016 vintage predecessor.
Tatsuo Kawasaki, a partner at Unison Capital, on supporting existing investments and making new ones, expectations of distress in Japan, and why a platform approach makes sense for healthcare
Bain Capital has launched a dedicated Japan fund with a target of JPY100 billion ($946 million) as local and foreign managers ready themselves for a much-anticipated rise in buyout deal flow in the country.
KKR has surpassed the $12.5 billion target for its fourth pan-Asian buyout fund, with a final close expected at the end of this year or early in 2021.
CLSA Capital Partners (CLSA CP) has closed its fourth Japan mid-market fund at $450 million after approximately three months in the market.
Australia's Adamantem Capital launched its second fund shortly before COVID-19 began to escalate, but the first close still features sizeable commitments from new investors that were unable to perform due diligence in-person
Private equity investors in China must develop new operational capabilities to deliver returns because they can no longer rely on macroeconomic tailwinds to drive growth, according to McKinsey & Company.
New Zealand PE firm Direct Capital and the government’s Accident Compensation Corporation (ACC) have taken a combined 50% stake in local logistics operator Mondiale for an undisclosed sum.
ByteDance, the PE-backed owner of TikTok and the Toutiao news aggregation service, has acquired VC-backed Chinese medical information platform Baikemy for RMB500 million ($72 million).
Pacific Equity Partners (PEP) has reached a final close on its sixth Australia and New Zealand-focused buyout fund at the hard cap of A$2.5 billion ($1.8 billion).
Indian private equity firm True North closed its sixth fund last year at about $600 million, falling short of a revised target.
KKR expects to complete a first close of $10 billion on its fourth pan-Asian fund at the end of June.
MBK Partners has closed its fifth North Asia-focused fund at the hard cap of $6.5 billion. It is the joint third-largest PE vehicle raised for deployment across the region and MBK has become the seventh manager to cross the $6 billion threshold.
KKR sees its significant exposure to Asia – which accounts for more than 30% of the firm’s overall private equity portfolio – as a source of strength as the region appears to be emerging from the coronavirus pandemic faster than the US and Europe.
Archipelago Capital Partners is seeking $250 million for its second Southeast Asia fund and has received a proposed $25 million LP commitment from the International Finance Corporation (IFC).
The middle-market private equity firm expects COVID-19 to generate more deal flow as founder-owners and corporates come under stress
Risa Partners, a Japanese mid-size investment bank controlled by a subsidiary of NEC Corporation, has launched its fifth corporate solutions fund with a target of JPY15 billion ($139.5 million).
CVC Capital Partners has closed its fifth Asia fund at the hard cap of $4.5 billion. The firm said the step up from $3.5 billion for Fund IV reflects an expansion in its regional investment capabilities.