LPs
Japanese LPs: The long walk
PE firms have been trying to open up the Japanese LP market for years. Now that local institutions are showing a greater appetite for alternatives, it is unclear who will manage their investment programs
Key person clauses: Man overboard
The complexity of a private equity firm’s key person clauses – and the number of people they encompass – says much about its institutionalization. The transition is not always easy, for GPs or LPs
Talent shortages hinder Asian LPs' private equity returns
Asian LPs see a shortage of qualified professionals capable of executing investment programs as the biggest obstacle to improving their private equity returns.
LPs warn of impending downturn in Asia
Institutional investors are preparing for a downturn in Asia – and emphasizing the importance of disciplined deployment – as they see worrying “pro-cycle market behavior” in the private markets space globally.
Korea Post Insurance to allocate $200m to global buyout funds
Korea Post Insurance plans to allocate $200 million to as many as three managers focusing on global buyouts, predominantly in North America and Europe.
Temasek unit targets $500m PE fund-backed bond issue
Retail investors in Singapore will be able to get exposure to the Temasek Holdings private equity portfolio through a $500 million bond issuance backed by 36 funds, including vehicles managed by The Blackstone Group, KKR, Silver Lake Partners, and TPG...
US pension funds: Going direct
California Public Employees’ Retirement System's (CalPERS) decision to launch a private equity direct investment strategy sets it apart from its counterparts, but the plan will need conviction and focus to succeed
San Francisco pension fund backs China's SBCVC - update
San Francisco City & County Employees’ Retirement System has committed $25 million to SBCVC’s sixth China fund, which has a target of $500 million. The GP closed its previous VC vehicle at $459 million in 2016.
CalPERS to launch direct private equity investment unit
California Public Employees’ Retirement System (CalPERS), the largest public pension fund in the US, plans to deploy up to $13 billion a year in direct private equity deals through two newly formed funds.
Japan Post Bank targets $76.5b alternatives portfolio
Japan Post Bank plans to increase the size of its alternatives portfolio more than fivefold in the next three years to JPY8.5 trillion ($76.5 billion). More than JPY2 trillion of this will be allocated to private equity.
CPPIB's Asia private equity exposure tops $13b
Canada Pension Plan Investment Board (CPPIB) continues to ramp up its exposure to Asian private equity, with called and uncalled commitments rising 27% to C$17.1 billion ($13.3 billion) for the 12 months ended March 2018.
Tech entrepreneurs and family offices: Collective might
Investment firms are emerging in Asia that leverage the collective wealth, knowledge and networks of the region's most successful internet entrepreneurs. These are family offices, but not necessarily in the traditional Western model
Indonesia VC: Levels of comfort
For all the fervor about technology opportunities in Indonesia, independent local VC firms are thin on the ground. Traditional LPs want to see more evidence of performance before getting involved
Australia's NAB to sell MLC wealth management arm
National Australia Bank (NAB) has confirmed it will sell MLC, a wealth management unit that operates the country’s largest retail superannuation fund.
PennSERS to invest $75m in Hahn & Co's Korea fund
Pennsylvania State Employees’ Retirement System (PennSERS) has agreed to commit up to $75 million to Hahn & Company’s third Korea-focused fund.
CPPIB promotes Kim in Asia leadership reshuffle
Canada Pension Plan Investment Board (CPPIB) has promoted Suyi Kim to the role of senior managing director and head of Asia Pacific, along with additional changes in the firm’s Asian leadership.
Australia’s QIC receives $427m super fund mandate
The global private capital division of Australia’s QIC has received a A$550 million ($427 million) private equity mandate from domestic superannuation fund Rest.
LP interview: Hermes GPE
Hermes GPE has fine-tuned its co-investment strategy since establishing a presence in Asia. Iesan Tsai, the group’s regional head, will work with portfolio GPs or fund-less sponsors in pursuit of the right deal
Private equity AGMs: In the spotlight
The quality of a private equity firm’s AGM says a lot about the quality of the firm itself. LPs make their assessments based on informal conversations and observations as much as what happens on stage
Impact investment: A new breed
Global GPs have the potential to draw fresh sources of capital to Asia's impact investment funds
Impact agenda: Attracting institutional capital
Global PE firms are launching impact funds tailored to appeal to institutional investors that have so far largely ignored the space. There will be growing pains, but the benefits should be wide-ranging
LPs want stability plus innovation from Chinese GPs - AVCJ Forum
Team turnover remains a key concern for LPs making commitments to Chinese private equity firms, but even the most stable of GPs must demonstrate an ability to evolve in response to a fast-changing environment, investors caution.
HarbourVest closes flagship fund-of-funds at $1.7b
HarbourVest Partners has closed its latest fund-of-funds targeting European and Asian markets with $1.7 billion in commitments.
OTPP appoints Asia head
Ontario Teachers’ Pension Plan (OTPP) has appointed Datuk Ben Chan, formerly of Malaysia’s Khazanah Nasional, as regional managing director for Asia Pacific.