LPs
China guidance funds: Money monsters
Government guidance funds are the policy-driven big beasts in China’s renminbi-fundraising landscape. While GPs may have little choice but to engage, they can do so judiciously
Ping An gives third-party investors exposure to PE portfolio
The international investment and asset management arm of China’s Ping An Insurance has raised $875 million through a secondary sale of part of its private equity portfolio.
Thailand’s 9 Basil raises $120m for debut fund
9 Basil, a Thailand-based GP launched last year by local multi-family office Blueprint Forest, has raised $120 million for its debut fund.
Japanese LPs stress importance of consistent deployment - AVCJ Forum
Institutional investors must maintain a reasonable pace of deployment in alternatives despite the coronavirus pandemic fostering economic uncertainty and hindering efforts to perform due diligence on managers, the AVCJ Japan Virtual Forum heard.
Polaris wins PSERS support for $1.4b Japan fund
Polaris Capital Group has won support from Pennsylvania Public School Employees’ Retirement System (PSERS) for a Japan buyout fund of up to JPY150 billion ($1.4 billion), twice the size of its 2016 vintage predecessor.
Alternative fund structures: Alternate universe
Irregular fund structures, including single-asset platforms, are often the most appropriate inroad for investors in developing Asia. But it has taken a pandemic to bring them to the fore
Ex-Unigestion Asia head joins Campbell Lutyens
Eric Marchand, who left his role as Unigestion’s head of Asia Pacific private equity earlier this year, has joined Campbell Lutyens as a senior advisor.
GGV targets $2b for China, US tech investments
GGV Capital will return to market with its latest set of China and US-focused funds, seeking to raise an aggregate $2 billion, up from $1.88 billion in the prior vintage.
Subscription credit: Fine lines
Increased standardization on disclosure has improved the visibility LPs have into how private equity firms are using subscription credit lines, but they must be mindful of attempts to loosen terms.
LPs see decoupling as bigger issue than delisting - AVCJ Forum
The long-term implications of US-China decoupling are of greater concern than the prospect of Chinese companies being forced to delist from US stock exchanges, LPs told the AVCJ China Forum.
LP interview: Canada Pension Plan Investment Board
For Canada Pension Plan Investment Board, COVID-19 has reinforced the key tenets of its Asia investment strategy, from being flexible on timeline to putting boots on the ground
US LPs in China: Willing buyers?
There is no clear evidence of US LPs passing on China funds as a result of tensions between the two countries, but their current or future reluctance could be shrouded in various obfuscations
Q&A: Starquest Capital's Frankie Fang
Frankie Fang, founding managing partner of China-focused fund-of-funds Starquest Capital, discusses early-stage valuations, specialization among domestic managers, and renminbi fundraising
Temasek sees portfolio shrink, ups investment pace
Temasek Holdings has deployed a record S$32 billion ($23.3 billion) in the past year – with technology and healthcare the main beneficiaries – even as the impact of COVID-19 saw its overall portfolio shrink in value for the first time since 2016.
Australia's Future Fund posts negative return, sells part of PE portfolio
Future Fund has posted its first yearly negative return since the global financial crisis, amid economic chaos caused by COVID-19, and rebalanced its private equity portfolio as part of efforts to avoid “excessive risk.”
Australia's IOOF to buy NAB wealth management arm
Australian financial advisory, investment management and superannuation provider IOOF Holdings has agreed to acquire MLC, the wealth management arm of National Australia Bank (NAB), for A$1.44 billon ($1.03 billion).
LPs warn of adverse ESG impact in India - AVCJ Forum
LPs told the AVCJ India Virtual Forum that Indian private equity firms may struggle to raise capital from international investors if they don't make progress on environment, social and governance (ESG) issues.
L Catterton Asia: Unhappy families?
The merger of Catterton and L Capital was unique in its size and scope, creating the world’s largest consumer-focused private equity firm. However, perspectives on the experience remain polarized
CDC commits $10m to India’s Chiratae
UK-based development finance institution CDC Group has committed $10 million to the fourth fund being raised by India’s Chiratae Ventures.
OMERS names new Asia infrastructure head
Ontario Municipal Employees Retirement System (OMERS) has appointed Prateek Maheshwari, an existing managing director at the firm, as its head of infrastructure in Asia.
Hillhouse founder emphasizes tech transformation opportunities
The most attractive investment opportunities in a post-COVID-19 world involve helping traditional businesses that have been “victims of the creative destruction of technology” play catch-up, according to Lei Zhang, founder and CEO of Hillhouse Capital.
LPs & climate change risk: Numbers game
With more information at their fingertips, institutional investors are better positioned to understand and act on climate risks and opportunities in their portfolios. But private markets are still playing catchup
OMERS loses Asia private equity head
David Payne, who has led Asia private equity coverage at Ontario Municipal Employees Retirement System (OMERS) for two-and-a-half years, has left the firm.
De-risking measures limit COVID-19 damage to GIC portfolio
Singapore’s GIC Private said that steps taken last year to de-risk its portfolio – reducing its allocation to equities in favor of cash and evaluating deals with more caution – have limited the negative impact of COVID-19.
