Regulation
Trans Pacific Partnership: A rising tide
When the US withdrew from the Trans Pacific Partnership, the remaining participants decided to go it alone. Hopes are high that the deal will result in improved business environments across Southeast Asia
Malaysia PE: Shaken, not stirred
Malaysian investors are unfazed by a period of political tumult that has directly embroiled the country’s government-guided private equity industry. An erratic growth trajectory now appears set to stabilize
India raises cap on local PE fund exposure to offshore companies
The Securities and Exchange Board of India (SEBI) has raised the limit on capital that can be invested by local private equity and venture capital funds in overseas companies from $500 million to $750 million.
China-US trade: Balance of power
A long-smoldering trade dispute between the US and China has begun to reverberate globally across a range of sectors. Private equity must not ignore the potential impacts
Hong Kong biotech IPOs: Capital injection
The move to allow zero-revenue biotech companies to list in Hong Kong has spurred investor interest in healthcare. But valuations are high and success in this capital-intensive space is by no means guaranteed
Abraaj files for restructuring
The Abraaj Group – which has been under pressure since governance concerns emerged in February – has appointed provisional liquidators to work on a restructuring of the firm after a second creditor filed a petition seeking to recover unpaid debts.
Hong Kong technology IPOs: Size matters
Hong Kong has altered its IPO regime to attract tech companies with unorthodox shareholding structures and biotech start-ups with no revenue. But only certain businesses are welcome to apply
Hong Kong to accept New Third Board companies
Chinese companies listed on the National Equities Exchange & Quotation (NEEQ) – a market aimed at smaller, less proven companies and qualified investors – will be encouraged to go public in Hong Kong.
China unicorn total surpasses 160
China had 164 unicorns worth a collective $628.4 billion at the end of last year, a government report stated, as the prospect of A-share listings by domestic internet companies was once again raised.
China tightens controls on LP participation in offshore funds
China's National Development and Reform Commission (NDRC) has implemented rules that effectively add another layer of approval for LP commitments by domestic investors to offshore private equity funds.
Hong Kong IPOs: Open season
Hong Kong is proposing to loosen its listing requirements - with a view to attracting Chinese technology IPOs - in a measured way. However, changes of such significance are rarely implemented smoothly
CSRC eases rules for VC firms to exit start-ups
Shares held by venture capital investors will be subject to a shorter lock-up period after their portfolio companies list on Chinese stock exchanges in a move designed to encourage long-term investment.
Augentius appoints new Asia head
Fund administrator Augentius has appointed Jimmy Leong as managing director for Asia following the departure of Alexander Traub to Alter Domus.
Demonetization drives surge in Indian fintech investment
India’s demonetization policy has been the principal driver for a surge in financial technology investment in the country, according to research by Accenture and CB Insights.
Chinese fund abandons Xcerra deal, cites CFIUS problems
Sino IC Capital, a technology-focused PE fund manager backed by the Chinese government, has become the latest investor to fall foul of US regulators following the termination of its acquisition of semiconductor and electronics manufacturer Xcerra.
Australia distress: The luxury of time
Two pieces of legislation – one enacted and the other pending – are expected to facilitate corporate restructuring in Australia. It remains to be seen how turnaround investors take advantage of this
Warburg Pincus abandons Tata Technologies investment
Warburg Pincus has called off a planned $360 million investment in Tata Technologies, the engineering outsourcing and product development IT services arm of Indian conglomerate Tata Group.
India budget promotes start-ups, but leaves GPs waiting
India’s latest Union Budget promises strong support for domestic entrepreneurs and venture capital investors, but provides few specific measures to benefit the private equity industry.
China insurance and PE: Get real
The asset management units of Chinese insurance companies can no longer launch debt-like products masquerading as private equity, amid concerns about rising corporate and local government debt burdens
Chinese banks to launch debt-for-equity swap funds
Chinese banks will be allowed to raise capital from third-party investors to participate in debt-for-equity swap programs as regulators look for additional ways to alleviate the country’s corporate debt problem.
China fintech: Follow the consumer
A crackdown on cash loans has undermined investor confidence in China’s fast-growing online consumer-lending market. However, VC players are confident that start-ups can find other angles
Korean political crises present PE opportunities
A turbulent 2017 for South Korea in both domestic and international politics has complicated private equity agendas across a number of sectors, but GPs are tracking some positive aftereffects.
India removes limits on foreign investment in retail
India has broadened its regulations on foreign direct investment (FDI), permitting unconditional 100% FDI in sectors including single-brand retail trading (SBRT).
China’s Hony Capital to set up mutual fund unit
Hony Capital is poised to become the latest Chinese private equity firm to enter the mutual fund business.
