Industry
Hong Kong's VMS appoints PE head
Hong Kong-based multi-strategy alternatives asset manager VMS Group has appointed Jianming Zou, formerly of New Horizon Capital, as head of private equity.
Australia's PEP ups target for latest secure assets fund
Pacific Equity Partners (PEP) has increased the target for its second Australia and New Zealand-focused secure assets fund to AUD 1.4bn (USD 949m), while pursuing a deal that would round off Fund I and fall into Fund II.
Australia's Heal Partners closes debut fund on $137m
Australia’s Heal Partners, a health, education, and lifestyle-focused venture capital firm, has closed its first fund on AUD 200m (USD 137m). The target was AUD 100m.
US regulator gets access to Chinese audits
The threat of delisting that has haunted Chinese companies that trade on US exchanges appears to have receded after the US regulators announced they had gained full access to the audits of these companies for the first time.
Campbell Lutyens recruits Suvir Varma as Asia chairman
Suvir Varma, formerly head of Bain & Company’s financial investor practice in Asia Pacific, has been appointed chairman for Asia Pacific at placement agent Campbell Lutyens.
PAG closes fifth credit fund on $2.6bn
PAG has closed its fifth pan-Asian private credit fund at the hard cap with USD 2.6bn. It is said to be the largest direct lending fund raised in the region to date.
AVCJ daily bulletin returns January 5
AVCJ's daily bulletin is taking a short break for the festive holiday season.
2023 preview: Buyouts
Even though debt is more readily available in Asia than in the US or Europe, financing costs are up, and buyout investors are reluctant to move for assets in an uncertain and overvalued market
2023 preview: Fundraising
Fundraising is difficult for all but the fortunate few private equity managers in Asia. GPs are delaying launches, shaking up strategies, and offering sweeteners; LPs are in no hurry to make commitments
2023 preview: Private debt
Asia-based private debt managers hope to take advantage of renewed LP appetite for the asset class, while enjoying higher returns driven by rising interest rates and widening spreads
Q&A: CICC Capital's Mengyang Yang
Mengyang Yang, an executive director and head of private equity in Hong Kong at CICC Capital, on China’s post-pandemic revival, plans for a flagship US dollar fund, and managing guidance funds
2023 preview: Mass access to PE
More individuals will be able to invest in private equity as fund fractionalisation technology matures. But a global downturn, ever-malleable regulations, and blockchain gloom loom large
2023 preview: India PE
India’s domestic growth story appears unobstructed, but some international investors could hold their fire. The local PE industry will not graduate to the next level without that foreign capital
2023 preview: Australia PE
Market pressures on Australian businesses, including an increasingly serious labour shortage, are a challenge and opportunity for domestic private equity. So is China, but in less discernible ways
2023 preview: China macro
Private equity is eager to re-engage with China as a sudden post-pandemic re-opening reminds investors focused on the country to expect the unexpected. A weak global picture could spoil the party
2023 preview: Southeast Asia VC
Southeast Asia VC is in fair position to hobble through a global downturn and cooling appetite for all things tech despite controversial politics in the region’s largest market and a dicey IPO outlook
2023 preview: Japan middle market
Confidence in Japan’s middle market is whipping up new deal flow, new funds, and new exit channels that will play out in 2023. This includes the possible reanimation of a dormant IPO market
To pastures new: Asia PE people moves
A selection of the transfers, promotions, arrivals, and departures in the private equity community in 2022
Q&A: Bain Capital's David Gross-Loh
David Gross-Loh, a managing director and a founding member of the Asia business at Bain Capital, on expanding into Osaka, targeting large-cap carve-outs in Japan, and the availability of deal financing
Dalma Capital buys Singapore's Global CIO Office
Dalma Capital Group, a Dubai-headquartered alternative investment management platform, has agreed to buy The Global CIO Office, a Singapore-based outsourced CIO business that primarily serves family offices.
2022 in review: End of the party?
Fundraising favours the few; deployment becomes progressively slower as investors agonise about valuations, macro prospects, and financing costs; sponsor-to-sponsor deals prop up exits
Overallocation-driven secondary sales more talk than action – Coller
More LPs are considering sales of private equity positions via the secondary market as they find themselves overallocated to the asset class following sharp adjustments in public markets valuations, but Coller Capital has yet to see this translate into...
Raffles Family Office appoints digital assets CIO
Raffles Family Office, a Hong Kong-based multi-family office, has named Zann Kwan as CIO and managing partner of its digital assets unit.
Goldman invests in KKR-owned Goodpack as part of refinancing
Goldman Sachs Asset Management (GSAM) has made a structured investment in Goodpack, a Singapore-based container manufacturer controlled by KKR, as part of a broader refinancing transaction.