Regulation
Korea to broaden retail exposure to domestic private equity
South Korean regulators will make it easier for domestic retail investors to participate in private equity as part of a series of reforms designed to boost the country’s capital markets.
Cautious optimism in Taiwan
“We have prepared a statement if you want it.” Within minutes of a panel concluding at the AVCJ Taiwan Forum in September, a piece of paper landed in my lap from the American Chamber of Commerce In Taipei’s (AmCham) private equity committee, which...
China to resume IPOs in 2014 – CSRC
The China Security Regulatory Commission (CSRC) plans to re-open the IPO market in January. About 50 firms are expected to pass the regulator’s review and become the first batch to list.
Taiwan proposes changes to M&A regulations
Taiwan’s cabinet has approved the first amendments to the territory’s Business Mergers and Acquisitions Act in nearly a decade, including a provision that raises the level of shareholder support required for a take-private transaction to go through....
More than 50 Chinese PE firms suspected of illegal fundraising
More than 50 Chinese private equity firms are suspected of illegal fundraising activity, according to the head of a taskforce charged with tracking down offenders. A total of RMB16 billion ($2.6 billion) and more than 100,000 people are thought to be...
Chinese insurers’ PE investment scope to further relax - CIRC
China Insurance Regulatory Commission (CIRC), the Chinese insurers’ regulator, is looking to raise the cap on industry players’ exposure to private equity to 20%-30% of total assets.
China to modify IPO approvals system
The China Securities Regulatory Commission (CSRC) will move towards a registration-based system for IPOs in place of the current approval-based system. This is intended to make it easier for companies, especially smaller ones, to raise capital.
Australian Tax Office warns foreign investors on compliance
The Australian Taxation Office (ATO) has written to 130 private equity firms offering to “assist with their compliance” as it scrutinizes the pipeline of upcoming IPOs to ensure foreign investors don’t avoid paying local tax.
Hong Kong PE regulation: The quest for certainty
Proposals have been released on extending Hong Kong’s offshore funds tax exemption to include PE and setting up open-ended investment companies. Market watchers are encouraged, but know they must be patient
Hong Kong's FSDC makes proposals for PE tax exemption, OEICs
Hong Kong’s Financial Services Development Council (FSDC) has released proposals for extending the profits tax exemption for offshore funds to include private equity and introducing open-ended investment company (OEIC) structures through which managers...
Fundraising: The JOBS Act and general solicitation
The removal of restrictions on general solicitation in the US potentially allows private equity firms to tap accredited investors that previously fell beneath their radar. However, managers are reluctant to rush in
Exits: Stuck in China
The weak IPO market has left many China PE firms holding assets for longer than expected. While growth deals will remain dominant, there will be change in how and with whom they are done
Indian regulator issues guidelines for SMEs to list without IPO
The Securities and Exchange Board of India (SEBI) has issued guidelines allowing small and medium-sized enterprises (SMEs) to list without an IPO, offering new fundraising and exit options for start-ups.
General Atlantic, India Equity Partners seek action against Fourcee Infrastructure
General Atlantic (GA) and India Equity Partners (IEP) are pursuing legal action against their portfolio company Fourcee Infrastructure Equipments, accusing executives of “extensive forgery and willful deceit.”
Burden of compliance
Alternatives fund managers have a mountain to climb, but they are confident of reaching the summit. This, broadly speaking, is the conclusion drawn from State Street's recent global manager survey, in which the regulatory obstacles facing the industry...
India eases offshore listing rules
Indian companies will be allowed to pursue IPOs overseas without first listing domestically in a move that should please private equity and venture capital investors looking for alternative exit routes. The broader policy objective is to shore up capital...
Japanese government panel suggests pensions shift to alternatives
A Japanese government-appointed advisory panel has suggested that the country's JPY160 trillion ($1.6 trillion) public pension system - which includes the JPY120 trillion Government Pension Investment Fund (GPIF) - reallocate a portion of its holdings...
WL Ross settles with SEBI over SpiceJet case
WL Ross has paid INR11 million ($177,000) in a settlement with the Securities and Exchange Board of India (SEBI), ending a long-running case over its investment in low-cost Indian airline SpiceJet.
Litigation funds: The justice league
Litigation financiers are increasingly looking for opportunities in Asia, many making their investments out of private equity-style funds. But do they bring the same returns?
Taiwan regulators stress commitment to PE – AVCJ Taiwan
Taiwan’s minister of economic affairs stressed that the government sees private equity as an important contributor to local economic development, highlighting draft legislation that promises to ease the deal approvals process. However, PE investors...
Indonesia VCs, incubators form lobbying alliance
Eight Indonesian venture capital firms and incubators have come together to form a lobbying group known as the Alliance of Venture Capitals in Indonesia (AVCII). Members include CyberAgent Ventures, East Ventures, GEPI, Grupara, Ideosource, Jakarta Founders...
Q&A: FCC Partners' C.Y. Huang
C.Y. Huang, president of FCC Partners and chairman of the Taiwan M&A and PE Council (MAPE), explains why he sees the tide turning for foreign private equity in Taiwan and where the opportunities lie
Taiwan IPOs: An alternative exit
With the nascent T-shares program plus a string of incentives, Taiwan wants to establish itself as a hub for China IPOs. Can it pare down the regulatory detritus and make this dream come true?
Taiwan buyouts: Back from the brink?
After a spike in buyouts in the mid-2000s, Taiwan sank from view due to private equity firms’ concerns about unpredictable deal approvals. Regulators are now trying to tempt them back with promises of reforms