LPs
Fund focus: Into the white space
The arrival of Odyssey Private Equity – a collaborative effort by former executives from two of Australia’s best known GPs – once again draws attention to the hole in Australia’s lower middle market
HPEF strikes incentive deal with LPs over Asia fund
HPEF Capital Partners – formerly known as Headland Capital Partners – has won LP approval for an incentive scheme that ties in a reconstituted team to manage the existing portfolio, and the principals still hold expectations of raising a successor...
Australia's Hostplus commits $65m to seed investor Artesian
Australian superannuation fund Hostplus has committed A$85 million ($65 million) to local seed investor Artesian, taking the venture capital firm’s funds under management to more than A$150 million.
Cost conundrum: Super funds, fees and private equity
Australian regulators want greater consistency in how superannuation funds report costs and fees to members. While sound in principle, the draft measure is problematic in practice, especially for private equity
The hybrids: GPs seek to work with Australian family offices
Australia’s lower middle market is rich in investment opportunities but underpenetrated by private equity. Local family offices are increasingly keen on participating, although in their own way
Singapore's Temasek opens San Francisco office
Singapore’s Temasek Holdings has opened an office in San Francisco, expanding its US presence following the establishment of a New York office in 2014.
Azerbaijan fund commits $100m to e-Shang Redwood's Japan vehicle
Azerbaijan’s state oil fund (SOFAZ) has agreed to invest $100 million in a Japan-focused logistics vehicle being raised by e-Shang Redwood (ESR), a pan-Asian logistics services company that has a string of private equity backers.
Unigestion acquires European rival Akina
Switzerland-based wealth management firm and PE fund-of-funds Unigestion has acquired the Europe-focused private equity business of its rival Akina Partners.
Renminbi fundraising: Policy power
The launch of several huge government-backed funds has skewed renminbi-denominated fundraising in China. What does their arrival mean for valuations and for the nascent independent LP community?
India budget promotes foreign investment, clarifies PE tax
India’s new Union Budget includes several measures intended to provide much-needed clarity related to tax burdens for investors in Indian companies including private equity funds.
Hong Kong Monetary Authority to boost long-term investments
The Hong Kong Monetary Authority (HKMA) plans to increase investments from the its long-term growth portfolio (LTGP) – the majority of which is deployed in private equity – in response to a “high complex and unpredictable” global political and...
NYSTRS commits $100m to MBK's fourth North Asia fund
New York State Teachers’ Retirement System (NYSTRS) has disclosed a commitment of $100 million to MBK Partners’ fourth North Asia buyout fund, which closed at $4.1 billion in December 2016.
LP interview: The Dietrich Foundation
The Dietrich Foundation has an unusually large allocation to PE and VC, and to China venture capital in particular. CIO Edward J. Grefenstette discusses the considerations that underpin this exposure
China fundraising: Venture rising?
With the pace of fundraising picking up in China's venture capital industry, offshore LPs face challenges keeping up with the latest developments
LPs see limitations as well as opportunities in Asia co-investment
Co-investment opportunities are increasing in Asia, with LPs pushing for direct exposure to deals and GPs more willing and able to bring them in, but they do not appeal to all institutional investors.
LPs must address staffing constraints as Asian opportunities multiply
Global LPs targeting increasingly complex opportunity sets in Asia must streamline their activity and employ a range of techniques to reconcile shortages in investment team resources, panelists told the Hong Kong Venture Capital & Private Equity Association's...
Fund focus: LPs sign up for Axiom’s simple solution
Changes in the market and turnover in the team notwithstanding, Axiom Asia secured $1 billion for a fourth fund much like its previous three: a co-mingled fund-of-funds that offers exposure to hard-to-access GPs
Axiom raises $1b for fourth Asian fund-of-funds
Axiom Asia has closed its fourth pan-regional fund-of-funds at just over $1 billion, sticking to its tried and tested model of a single co-mingled vehicle with no separately managed accounts. The initial target was $750 million.
Korea Teachers' Pension appoints new CIO
Korea Teachers’ Pension has appointed David Park, formerly CIO of Allianz Life Insurance Korea, as its new chief investment officer. His two-year term began on January 2.
GP-LP: Rules of engagement
Large LPs want to reduce the number of PE managers in their portfolios and generate more value from the outperformers that remain. The GP-LP relationship is becoming closer and more complicated
Asian LPs contribute 23% of Apax's $9b global fund
Asia-based investors account for just under one quarter of commitments to Apax Partners’ latest global fund, which has closed at the hard cap of $9 billion after less than a year in the market.
OPIC backs Unreasonable Capital
The Overseas Private Investment Corporation (OPIC) has committed $5 million to the debut fund being raised by Unreasonable Capital, which focuses on social and environmental issues in emerging markets.
HarbourVest's Kelvin Yap promoted to managing director
HarbourVest Partners has promoted Hong Kong-based Kelvin Yap, who focuses on growth equity and buyout investments in Asia Pacific, to managing director.
Primavera closes second China fund at $1.9b
Primavera Capital Group has reached a final close on its second US dollar-denominated China-focused fund at $1.93 billion, exceeding the target of $1.5 billion.