GPs
New faces, old faces: Asia PE people moves
A selection of the transfers, promotions, arrivals and departures in the private equity community in 2018
DCM promotes Ray Zhao to partner
DCM, which targets venture capital investments in China, Japan, and the US, has promoted Beijing-based Ray Zhao to partner.
Washington State commits $200m to China-focused Centurium
Centurium Capital, a private equity firm established by former Warburg Pincus China head David Li, has received a $200 million commitment to its debut fund from Washington State Investment Board.
The crystal ball: Predictions for 2019
Industry participants share their outlooks on some of the biggest economic drivers of the day, including fast-growing sectors and shifting deal making factors across Asia’s varied markets
Hong Kong to amend unpopular PE tax exemption
Hong Kong plans to amend the tax exemption for private equity funds, which was introduced in 2015 with a view to making it easier for GPs to operate locally but has been criticized by industry participants as unworkable.
Lexington leads $1b stapled secondary for TPG Asia
Lexington Partners has backed a GP-led tender offer for TPG Capital’s fifth and sixth Asia funds, taking out existing positions held by LPs and investing new capital into the firm’s seventh pan-regional vehicle. The transaction represents a total capital...
Eastspring expands China footprint with Shanghai office
Eastspring Investment, a Singapore-based asset manager backed by Prudential, has opened a new office in Shanghai as part of an ongoing China expansion strategy.
Taiwan PE remains a tough sell for LPs – AVCJ Forum
Appreciation of Asia’s private equity has grown among LPs as commitments to the asset class pay off in developed and emerging markets, but investing in Taiwan is difficult to justify due to the absence of a strong local identity.
Secondary restructurings: Opportunistic delays
Creative secondary deals are presenting private equity investors with new options for extending exposure to prized assets. Although a modest trend, it evokes big questions about best conduct
Morgan Stanley's Matsuyama joins Carlyle Japan
The Carlyle Group has named Tomofumi Matsuyama (pictured), a former executive at Morgan Stanley, as a managing director of its Japan buyout team.
Golden Gate commits $18m to Malaysia
Singapore-based Golden Gate Ventures has committed to invest MYR75 million ($18 million) in Malaysian technology start-ups and opened a new office in the country.
Evolving India: Sophistication on demand
India's private equity market has reached a new level of maturity, and GPs must show they can keep pace with increasingly sophisticated entrepreneurs and LPs' expectations for returns
Q&A: Tata Opportunities Fund's Paddy Sinha
Paddy Sinha, a managing partner with Tata Opportunities Fund, discusses macroeconomic and policy developments in India, the availability of buyouts, and the outlook for exits
India PE spin-outs: Standing tall
India provides fertile ground for spin-outs by increasingly confident PE veterans, but LP skepticism remains a major hurdle. Managers must demonstrate their investment skills quickly or risk being left behind
India macro: Steady as she goes
India’s economy is expected to remain stable in the face of global volatility, but trouble spots remain. Investors must structure their portfolios carefully to ensure they are not caught off guard by sudden shocks
China Everbright sets up $288m fund with local government
China Everbright (CEL) has set up a RMB2 billion ($288.2 million) fund-of-funds with the local government of the city of Liyang in Jiangsu province.
Deal sourcing: Priority access
While proprietary deals are not always possible in Asian private equity, there are many ways for GPs to gain an edge even when competing with multiple bidders for the same asset
PAG confirms $6b close on third Asia buyout fund
PAG Asia Capital has announced that its third pan-regional fund has closed at the hard cap of $6 billion – confirming an AVCJ report from last week.
India GPs focus on investee alignment – AVCJ Forum
Investment and exit opportunities in India’s private equity market continue to improve, thanks in part to growing confidence among GPs in their ability to partner with portfolio companies through crucial stages of development.
Investors seek new openings as China tech matures – AVCJ Forum
Investors in China’s technology space must learn to play contrarian angles as consumer-facing segments become increasingly difficult to penetrate.
Talent acquisition the biggest challenge for Asia PE – AVCJ Forum
Finding talented personnel to source and execute investments remains the biggest challenge facing Asia’s private equity industry, GPs told the AVCJ Forum.
GP stakes: Succession scenarios
Funds dedicated to acquiring stakes in alternatives managers represent a small but growing industry niche. They target GPs with strong records, stable fee streams and a need to address inter-generational change
Weathering cycles requires focus on fundamentals – AVCJ Forum
Private equity firms looking to maintain momentum across macro cycles must focus more on asset selection and value creation, industry participants told the AVCJ Forum.
LPs drive evolution in Asia back office practices – AVCJ Forum
Growing demand for information and reporting among a shifting LP base is leading Asian GPs to improve their back office structuring, investors told the AVCJ Forum.