Investments
Asia PE investment hits $183b in 2018
Private equity investment in Asia slowed to $183.3 billion in 2018 – from $207.3 billion the previous year – as a decline in large-scale buyout activity offset a surge in late-stage rounds for technology companies.
2018 in review: Volatility vortex
Pan-regional funds attract the bulk of capital while the renminbi space withers; mixed fortunes for internet IPOs and trade sales; big buyouts fail to deliver but growth-stage tech stays strong
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
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
LP interview: Sweden's AP2
Swedish pension fund AP2 could be about to see a significant jump in its private equity allocation. Head of alternatives Anders Strömblad outlines what the organization looks for in prospective portfolio GPs
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
GP stakes: A matter of ownership
Many private equity firms in Asia have been approached about selling a GP stake, whether it is to facilitate succession or in return for supporting a fundraise. Responses to such propositions are mixed
Bain scores three wins at AVCJ Awards
Bain Capital completed a hattrick of wins at the 2018 AVCJ Private Equity & Venture Capital Awards, securing the prizes for firm of the year, deal of the year, and exit of the year – each one in the large-cap category. Quadrant Private Equity was named...
China looks further afield for deals as US tensions mount - M&A Forum
The escalating Sino-US trade war and tighter US regulatory scrutiny of inbound deals has promoted Chinese buyers to pursue investments in new markets, but they must be prepared to overcome opposition in these destinations as well, the China M&A Forum...
Q&A: Eurazeo's Eddie Chen
Eurazeo is a publicly-listed French private equity firm, formed in 2001 through the merger of Eurafrance and Azeo. China head Eddie Chen explains why the GP opened a Shanghai office five years ago
US regulation: Cold shoulder
New trade legislation in the US is set to have important ramifications for Chinese private equity deal making in a range of data-related technology segments. Macro effects, however, may be muted
Data infrastructure: Steel and thin air
Wrongly dismissed as a mere communications upgrade, data infrastructure is a new asset sub-class unto itself. A growing field of investors is recognizing the evolving opportunity set
Automation and investment: Channeling the flow
Investors are beginning to experiment with automation in various aspects of the deal-making process. Results to date are encouraging but lack detailed cost-benefit insight
PE and tech investment: Forward planning
The growing influence of technology across every industry is forcing PE firms to review approaches to investment. Ensuring the right people have the right information sits at the heart of these efforts
Sovereigns in alternatives: Watch the throne
Sovereign wealth funds are said to be pulling back from unlisted assets, a move motivated by intense competition and high valuations, as well as target allocations being reached
PE-backed Chinese car trading platform Souche buys rival
Souche, a Chinese online car trading platform that has received investment from Alibaba Group as well as from several PE players, has acquired industry peer Cheyipai.
PAG sells GP stake to Blackstone fund
The Blackstone Group’s Strategic Capital Holdings Fund has acquired a minority interest in Asia-focused alternative investment firm PAG for an undisclosed sum.
Asia risk: Bullish on the brink
Investors appear to be discounting Asia risk in the face of rising political concerns, ranging from North Korea to Myanmar
Asia takes emerging markets fundraising to post-crisis high - EMPEA
Emerging markets private capital fundraising – led by emerging Asia – reached its highest point since the before the global financial crisis in 2017, according to EMPEA, with capital dispersed more evenly across different strategies than ever before.
Australia agriculture: Fruitful endeavors
Despite their strong growth potential, Australian food crops have attracted little activity from the private equity community. Investors’ interest is restrained by the high hurdles to managing these assets
Indian family offices: Family matters
The shift from blind pool funds to direct investments doesn’t reflect the preferences of all Indian family offices, but exposure to fast-growing technology start-ups is an increasingly powerful draw
GPs should take more care when targeting family offices - AVCJ Forum
Family offices represent an attractive and flexible source of capital for private equity firms, but GPs could do more to ensure the opportunities they pitch are a good fit for their audience.
Specialization key to success in India PE – AVCJ Forum
Private equity has proven its worth as an asset class in India, but industry participants say achieving success in the market requires a specialized approach.
Japan Post Bank pursues global PE strategy – AVCJ Forum
Japan Post Bank’s has fully embraced the global remit of its recently launched private equity program, making commitments to funds around the world through fund-of-funds while considering direct investments in its home market.
