LPs
Regional funds and global LPs
One week out of every month, a certain Asia-based fund manager embarks on a trip that takes in three board meetings in three different countries. At each hotel, a packet of documents awaits, which must be reviewed before each meeting. Once he returns...
VIDEO: HarbourVest Partners' Sebastiaan van den Berg
It is a well established trend that Australian LPs are increasingly looking to internationalize their private equity exposure, arguably at the expense of domestic GPs. Foreign investors looking to enter Australia are not deterred. Sebastiaan van den Berg,...
Partners Group adds to India direct investment capabilities
Partners Group has appointed Cyrus Driver as a managing director with the brief to strengthen the company’s direct investment activities in India. The move comes as Partners Group seeks to ramp up its direct investment capabilities across the region.
PE firms lag behind VCs in adopting social media
Venture capital firms have long embraced social media for everything from networking with entrepreneurs to sparking dialogue about industry trends. Why are private equity players so slow to join in?
ADIA hires Axa executive for emerging markets PE
Abu Dhabi Investment Authority (ADIA) has poached Axa Private Equity COO Christophe Florin to head up its emerging markets private equity team. He led Axa’s Asian operations between 2005 and 2008.
CIC gets a further $50b from Beijing
China Investment Corp. (CIC) has secured an additional $50 billion in capital from the government, having already received a $30 billion late last year.
Comply or die? GPs, technology and reporting standards
Fund managers are dealing with the challenges of an increasingly demanding LP base. Asian GPs looking for institutional money must invest in compliance or rely on their track records to carry them through
Washington State Investment Board re-ups in FountainVest
Washington State Investment Board has committed $150 million to FountainVest China Growth Capital Fund II. FountainVest Partners, set up by former Temasek Holdings executives in 2007, raised $950 million for its first vehicle four years ago and is targeting...
Playing the Asia expectations game
The institutional LPs that attend AVCJ events are a mixed bunch. A few maintain a presence in Asia and are clued up as to the up-and-coming markets and managers, key investment opportunities and general fundraising climate. Another group comprises frequent...
EMPEA: More than 50% of LPs to expand SE Asia footprint
Global LPs expect to increase commitments to emerging markets in the next two years, including less-penetrated areas such as Southeast Asia and Latin America, according to a survey released by the Emerging Markets Private Equity Association (EMPEA).
Mubadala posts $1.1b loss due to volatile markets
Mubadala, the Abu Dhabi sovereign wealth fund that counts The Carlyle Group among its investments, announced a loss of AED4.2 billion ($1.14 billion) in 2011, up significantly on the AED338 million deficit posted a year earlier, due to volatile global...
Direct investment: Silent partners?
Limited partners are attracted by the low costs and potentially high returns of direct investment opportunities in Asia. Those with a finger on the market’s pulse are likely to prevail, provided they don’t get too greedy
Former STIC executive becomes CIO at KIC
Don Lee Dong-ik, former head of investments at PE firm STIC Investments, has been named CIO of Korea Investment Corp. (KIC), the country’s sovereign wealth fund. The first Korean national to get the job, Lee told AVCJ that the appointment is a huge...
NSSF: Still room to increase PE investments
China's National Council for Social Security Fund (NSSF) has the capacity to boost its commitments to private equity considerably, having put only 2.2% of its capital into the asset class, according to Wang Zhongmin, the fund's vice chairman.
Asian LPs join Latin America’s PE carnival
Asian investors are upping their commitments to Latin American private equity funds in a bid to be part of another emerging markets growth story
Indian LPs: Emerging or defunct?
Having a larger domestic LP base in India could create a more sustainable fundraising environment for GPs, but few industry participants expect institutions to be let off the leash in the near term
Los Angeles pension fund invests $25m in Hony V
Los Angeles City Employees’ Retirement System (LACERS) committed up to $25 million to Hony Capital Fund V, which closed in January at $2.4 billion, $1 billion larger than its predecessor.
Family offices eye larger private equity allocations
Family offices are looking to invest more in private equity over the next 12 months at the expense of their cash allocations. A survey of 32 family offices conducted by London-based private market advisory firm Somerset Capital found that 63% plan on...
Indian VC’s social imperative
Social venture capital funds have sprung up in India under the notion that they can support marginalized communities and achieve financial returns. Time will tell if this is possible.
US pension funds move to raise alternatives exposure
Two US pension funds, Georgia Employees’ Retirement System (GERS) and Ohio State Teachers’ Retirement System (OSTRS) have made moves to boost their exposure to alternative investments.
CPPIB names Mark Wiseman as new CEO
Mark Wiseman will become the next CEO of Canada Pension Plan Investment Board (CPPIB) when current head David Denison retires at the end of June.
Australian fundraisers feel the strain
Are changes in superannuation laws the cause or the scapegoat? Either way, Australia’s fundraising landscape is undergoing substantial change. Local GPs must choose between going offshore or going out of business
Western Australia moves forward on sovereign fund plans
The Western Australia government appears to have accelerated plans to set up a sovereign wealth fund to accrue a portion of the profits being generated by the region’s natural resources. Premier Colin Barnett mooted the prospect of a future fund that...
Korea’s LP problem
Both the GP and LP bases in South Korea are relatively narrow. Once fund managers have more to show for themselves in terms of track records, it will be easier to distinguish wheat from chaff