Industry
Timeline: 2018 by numbers
A selection of the key fundraising, investment and exit events - presented in chronological order - from the past 12 months
Bain closes fourth Asian fund at $4b hard cap
Bain Capital has reached a first and final close on its fourth Asia-focused private equity fund at the institutional hard cap of $4 billion. Employees of the firm and related parties will contribute a further $650 million.
Australia's Advent promotes Rob Hooke to partner
Australian lower middle market private equity firm Advent Partners has promoted Rob Hooke to partner.
Five trends for 2019
AVCJ looks at how its 2018 predictions turned out and identifies some key themes for the year ahead
ICG backs spin-out of Standard Chartered Private Equity
Intermediate Capital Group (ICG) has agreed to support a spin-out of Standard Chartered’s private equity business, taking the majority of the remaining $1 billion in assets off the bank’s balance sheet.
New faces, old faces: Asia PE people moves
A selection of the transfers, promotions, arrivals and departures in the private equity community in 2018
Natixis merges regional PE units
The asset management business of Natixis has launched a global private equity firm by merging three existing PE affiliates, including Singaporean fund-of-funds Eagle Asia Partners.
Everstone's IndoSpace closes India logistics fund at $580m
IndoSpace, a joint venture between Everstone Group and US-based Realterm Global that develops Indian industrial and logistics facilities, has closed its third fund at $580 million.
ADB backs Creador's Southeast Asia fund
Creador has raised $50 million for its fourth Southeast Asia and India-focused private equity fund from the Asian Development Bank (ADB).
DCM promotes Ray Zhao to partner
DCM, which targets venture capital investments in China, Japan, and the US, has promoted Beijing-based Ray Zhao to partner.
Infrastructure Capital raises $109m for Australia renewables fund
Australian specialist fund manager Infrastructure Capital has raised A$150 million ($109 million) for a renewable energy fund, including a A$100 million commitment from the government’s Clean Energy Finance Corporation (CEFC).
Washington State commits $200m to China-focused Centurium
Centurium Capital, a private equity firm established by former Warburg Pincus China head David Li, has received a $200 million commitment to its debut fund from Washington State Investment Board.
The crystal ball: Predictions for 2019
Industry participants share their outlooks on some of the biggest economic drivers of the day, including fast-growing sectors and shifting deal making factors across Asia’s varied markets
CDC backs Asia PE, VC funds
UK-based development finance institution (DFI) CDC Group has made commitments to several private equity and venture capital funds based in Asia as part of its global investment strategy.
Taiwan LPs: Increased exposure
As much as $10 billion could be released for investment in private equity following a hike in alternatives allocations for Taiwanese insurers. However, the major players will still deploy their capital with caution
2018 in review: Volatility vortex
Pan-regional funds attract the bulk of capital while the renminbi space withers; mixed fortunes for internet IPOs and trade sales; big buyouts fail to deliver but growth-stage tech stays strong
NZ Super appoints Stephen Gilmore as CIO
New Zealand Superannuation Fund has named Stephen Gilmore (pictured), who was most recently chief investment strategist with Australia’s Future Fund, as its new CIO.
SGG acquires PE fund administrator Augentius
Private equity and real estate fund administrator Augentius has been acquired by SGG Group, an investor services provider to alternative asset managers, corporations, and high net worth families.
Singapore's Jungle increases target for Fund III
Singapore-based Jungle Ventures has raised the target for its third Southeast Asia-focused VC fund from $150 million to $200 million.
Hong Kong to amend unpopular PE tax exemption
Hong Kong plans to amend the tax exemption for private equity funds, which was introduced in 2015 with a view to making it easier for GPs to operate locally but has been criticized by industry participants as unworkable.
Lexington leads $1b stapled secondary for TPG Asia
Lexington Partners has backed a GP-led tender offer for TPG Capital’s fifth and sixth Asia funds, taking out existing positions held by LPs and investing new capital into the firm’s seventh pan-regional vehicle. The transaction represents a total capital...
PE and SMEs: Southeastern bind
Difficulties connecting private equity investors with small to medium-sized enterprises in traditional industries remain a key barrier to growth in Southeast Asia. Novel approaches will be necessary
Eastspring expands China footprint with Shanghai office
Eastspring Investment, a Singapore-based asset manager backed by Prudential, has opened a new office in Shanghai as part of an ongoing China expansion strategy.
China's Gaorong closes fourth US dollar fund at $500m
Chinese venture capital firm Gaorong Capital has raised $500 million for its fourth US dollar-denominated fund. The majority of commitments came from existing LPs, with two endowments coming in as new investors.