Investments
PE & Asian banks: Once-in-a-decade opportunity
GPs like targeting banks during downturns, investing in stronger players at discount valuations and backing them to come out the other side with increased market share. Will it be more of the same with COVID-19?
AVCJ Awards 2020 - last call for nominations
Nominations for the 2020 AVCJ Private Equity & Venture Capital Awards will close on September 30 at 6 p.m. Hong Kong time. Please take the opportunity to have your say on the year's outstanding firms, fundraises, investments and exits.
Southeast Asia macro: Encouraging minefield
Southeast Asia benefits from an enviable macro outlook versus other markets, and investment in the region is set to recover relatively quickly. But is that enough?
Large-cap vehicles support PE fundraising revival in second quarter
Asia private equity fundraising rebounded from a seven-year low in the first quarter of the year to reach $24 billion for April through June, but commitments were concentrated on a handful of managers.
Foreign investment restrictions: Looking inward
China is the implied threat as governments look to protect vulnerable domestic companies from foreign corporate raiders. On balance, PE investors are unlikely to benefit from moves towards de-globalization
ESG and VC: Deferred dialogue
Institutional LPs are traditionally less engaged with VC versus PE when it comes to responsible investment standards. A multitude of drivers are changing this, but not quickly
Facebook takes 9.9% stake in Reliance's India app platform
Facebook has acquired a 9.9% stake in Jio Platforms, the holding company behind a number of apps and the parent of India's largest telecom operator.
China's Pinduoduo invests $200m in electronics retailer Gome
Chinese social e-commerce platform Pinduoduo – which has several VC backers - has invested $200 million in Gome Retail, one of the country's leading household appliance and electronics retailers.
India imposes FDI hurdles for Chinese investors
India has increased the regulatory requirements for inbound investments from groups in bordering countries in what is seen as a move to restrict Chinese activity.
LPs worried about denominator effect as capital calls rise - survey
LPs are receiving more capital calls from private equity firms following the coronavirus outbreak, with the concurrent drop in public market valuations prompting concerns about overallocation to the asset class, according to a survey by the Institutional...
Asia PE investment falls to six-year low in first quarter
Private equity fundraising, investment and exits all fell to multi-year lows in the first quarter of 2020 as the economic fallout from coronavirus outbreak forced investors to focus on existing portfolio exposure and made them wary of making new commitments.
Storm warning: Investors prepare for macro difficulties
The coronavirus outbreak appears to be fast-tracking a long-expected economic downturn. The situation is very different from the aftermath of the global financial crisis, but PE investors may still draw instruction from the events of 2008-2009
Europe's Eurazeo promotes Asian agenda
Eurazeo’s Europe-China fund – a joint effort with China Investment Corporation (CIC) and BNP Paribas – will come online at the end of this month with an initial EUR400 million ($445 million) in dry powder. It is the France-based GP’s latest milestone...
KKR looks to invest one-third of its impact fund in Asia
KKR expects to deploy one-third of its recently closed debut global impact fund in Asia and is adding dedicated resources in the region to work on deal sourcing and execution.
Australia technology: Taking care of business
Investors are quietly leveraging subtle advantages in the Australian enterprise software space to create global leaders. The market will not remain an overlooked goldmine for long
Coronavirus: PE impact assessment
Existing analysis of the impact of COVID-19 on PE and VC in Asia is largely based on anecdotes and incomplete datasets. A detailed prognosis must wait - and then the broader implications for consumption habits will take even longer to emerge
Asia PE fundraising falls 28% in 2019
Capital committed to Asia-focused private equity managers fell 28% year-on-year to $104.4 billion in 2019, largely due to a drop-off in activity in the pan-regional buyout and venture capital segments. Investments and exits were also down on the previous...
GPs need more than just an ESG mindset
Private equity firms must move beyond approaching investments simply with an ESG mindset and cultivate a more results-driven approach to environment, social and governance issues, industry participants told the Hong Kong Venture Capital & Private Equity...
GIC, ESR team up on $500m China venture
ESR, an Asia Pacific-focused logistics real estate platform, has formed a joint venture with Singapore’s GIC Private with a view to investing $500 million in high-quality facilities in China.
Impact investment: Gray areas
The notion of delivering measurable positive social and environmental impact while simultaneously generating risk-adjusted financial returns has struck a chord with many LPs. But impact strategies can still be a tough sell
Uncertain times: The outlook for Asia
Private equity activity is lagging in Asia across fundraising, investment and exits as a result of political and economic headwinds. But there is still appetite for new managers and strategies
Q&A: Oaktree Capital's Howard Marks
Howard Marks, co-chairman of Oaktree Capital Management, discusses populism, deficit, trade wars, the shift in focus from public to private markets, and why his default position is one of caution
GPs see specialization as antidote to challenging market - AVCJ Forum
Investors at the AVCJ Forum offered optimistic outlooks for 2020 but said tighter deal markets would demand specialization in defensive sectors and a closer watch on valuations.
Asian outposts: LPs see value in a local presence
Few institutional investors have the scale, resources or mandate to establish private markets platforms within Asia. Those that do are looking to make it pay off through co-investment