Performance
Value add
The fundamentals behind the private equity model imply that, by injecting capital in a company in return for an equity stake, the firm is able to change, alter, tinker and build a stronger, more profitable company.
The cleantech sector: renewable?
Since the COP15 debacle in Denmark nearly a year ago, it has been more or less all downhill for the clean/green sector that as recently as 2008 looked to be on the threshold of political and market breakthroughs – notably in carbon pricing – that most...
Indian private equity's characteristics
Even though the Indian economy is booming as never before, the private equity market is facing several barriers to entry.
India private equity: taking up the challenge
With the immediate GFC fast receding, India continues to enjoy on-target GDP growth of around 8.5%, according to the Ministry of Finance.
India emergent
Whether you follow US President Barack Obama’s line that India has already emerged or not, there is no doubt that Asia’s other great continental economy is now being viewed internationally as one of the key pivots in the great transfer of macroeconomic...
H&Q Korea completes divestment of NPS-sponsored Fund I
H&Q Korea has completed the full divestment of its first domestic Korean fund, the H&Q NPS Private Equity Fund I (PEF I), which closed in October 2005 at KRW300 billion ($293 million), with the sale of its last portfolio company, KSNET, a leading payments...
Insights from the India Web Seminar 2010
An online panel aired ahead of the 11th annual AVCJ India Forum explored the economic outlook for India, the abundance of uninvested capital in the market and difficulties for foreign firms in highly regulated sectors.
New BCG/IESE study sees emerging markets "come of age" as returns improve
A new joint study released by the Boston Consulting Group and the IESE Business School, based on analysis of data from the International Finance Corporation (IFC), has highlighted the increasingly strengthening returns from private equity in emerging...
Broad sunlit uplands?
The annual Asian gathering of all the best and brightest in the region’s private equity concluded with an upbeat mood that few would have predicted the same time a year ago.
LPs back on course
While private equity funding sources continue to diversify, traditional limited partners remain the sine qua non of how the asset class survives and thrives.
Picking the winners
“Active management works,” was the resounding message of the keynote address given by Steven Barnes, MD of Bain Capital at the AVCJ Forum.
3i half-year results highlight Asia macro strength, but see little investment, divestment
3i Group's half-year results to Sept 30th 2010, just released, highlighted the contribution of Asian markets and companies to the UK listed private equity leader's gross portfolio return of 8.7% and a 3.8% return on opening shareholders' equity, but showed...
Marks warns don't position for prosperity: AVCJ Forum
Howard Marks, Founding Partner at Oaktree Capital and one of the world’s foremost distressed investors, shared his views on global markets in his keynote speech opening the second day of the AVCJ Forum in Hong Kong, advising caution and noting that: “we...
Bonderman hails emerging markets at AVCJ Forum
David Bonderman, Founding Partner at TPG Capital, emphasized emerging markets opportunities in preference to Western ones in his opening keynote speech at the AVCJ Forum today: “When we look at the Top Ten IPOs of 2001, they were all in the West. If you...
AVCJ Forum 2010 begins with LP, PE Leaders Summits
The 23rd Annual AVCJ Forum 2010, Asia’s Private Equity Week, kicked off in Hong Kong’s Four Seasons today.
Hopu reaches its end
Following earlier reports last month (soon denied) that Hopu Investment Management was to break up without seeking to raise a second fund, the $2.5 billion China-linked private equity and multi-strategy investment firm now indeed appears to be heading...
LPs see their money bloom?
As a momentous year for private equity draws to a close against a background of secular macroeconomic shifts in the global balance of power and lasting regulatory change for the industry, one group’s reactions to the GFC aftermath and expectations for...
Returns, the second time around
With the global private equity debate still dominated by the $400 billion+ overhang of capital seeking a home, some 10% of it in Asia Pacific, expectations have been building of a new spate of secondary buyout deals that would put more of this capital...
China winning out?
Mass media have imprinted characteristic images of China on the public’s awareness: a populous country experiencing high-velocity economic growth representing the positive aspects of the nation; but juxtaposed alongside this, the negative impressions...
Asian funds: arithmetic or geometry?
Private equity has been forced to deal with rising levels of skepticism and caution post the GFC, with much of it reserved for leading industry brand names – generally the major buyout vehicles.
Tectonic shift toward Asia Pacific?
It's that time again: another year for Asia Pacific private equity brings round another fixture in the region’s industry calendar – the AVCJ Asia Pacific Private Equity & Venture Forum.
PE-invested Krispy Kreme Australia sees restructuring after financial setbacks
Doughnut market leader Krispy Kreme’s poor financial performance in Australia, where it is invested by Souls Private Equity, has prompted a month-long management restructuring process aimed at jumpstarting the retailer’s profits.
MSPE Sihuan Pharma IPO looks to strong healthcare exit
Morgan Stanley Private Equity investee Sihuan Pharmaceutical is on track to raise $741 million, potentially rising to $850 million if a greenshoe option is exercised, after pricing its IPO high at 26.7x next year's earnings, in the world's second largest...
Partners Group in Asia
At its annual investor roundtable in Hong Kong last week, Partners Group, the Zug-headquartered $25 billion private markets investment management firm, outlined its global strategy and its view of fundamental investment drivers post the GFC.