Asia
Carlyle CEO Kewsong Lee steps down
Kewsong Lee has resigned as CEO of The Carlyle Group just over two years since assuming the role on a solo basis, with co-founder Bill Conway taking over in an interim capacity.
Ex-EQT partner wins funding for Asia ESG services platform
Tak Wai Chung, who until early last year was a Singapore-based partner at EQT, has secured funding for a pan-Asian platform that will provide software solutions to corporates that need to meet environment, social, and governance (ESG) requirements.
Bain targets $5b for fifth Asia fund
Bain Capital has launched its fifth Asia-focused private equity fund with a target of USD 5bn. It comes a couple of months after the firm closed its latest regional special situations vehicle on USD 2bn.
Seed platforms: Fishing minnows from ocean liners
Accelerators and seed investors are increasingly pursuing global mandates and building out large, international teams. The challenges are starting to cast shadows over the benefits, but it’s early days
ESG in M&A: Eloquent exits
Private equity firms are increasingly presenting portfolio companies’ sustainability credentials in a prepared and formal way in trade sale situations. It appears to be worth the trouble
KKR seeks up to $1.5b for Asia tech fund
KKR has launched its debut Asia-focused technology growth fund, two-and-a-half years after first indicating it would add this strategy in the region.
Navis enters Asia credit space
Navis Capital Partners has launched a credit unit that will provide financing to companies in Asia that require growth capital but are reluctant to bring in equity investors.
B Capital raises $250m for global early-stage fund
Los Angeles and Singapore-headquartered B Capital Group has closed its first dedicated early-stage fund with USD 250m in commitments. It will target the US and Asia.
Asia logistics: Cost and complexity
Investment opportunities are expected to emerge as companies look to technology as a means of easing inflationary pressure on supply chains. Will Asia’s shallow pool of specialist logistics GPs deepen?
2Q analysis: Substituting China?
India and Southeast Asia come to the fore as China demonstrates weakness in both growth-stage investment and fundraising; exits continue to struggle amid reluctance from strategic buyers
LP interview: MetLife Investment Management
A preference for control-oriented strategies has left MetLife Investment Management with an Asia portfolio split equally between developed and emerging markets. There are no plans to upset the balance
Asia's Emerald Hill makes top 10 in global fund-of-funds ranking
Emerald Hill Capital Partners, which closed its last fund in 2014 and decided against raising a successor vehicle several years ago, is the sole Asian representative in the top 10 of a global fund-of-funds performance ranking compiled by business school...
Baring Asia exits Cath Kidston to UK turnaround investor
Baring Private Equity Asia (BPEA) has exited Cath Kidston, a UK lifestyle retailer that underwent a restructuring during the initial phase of COVID-19, to turnaround investor Hilco Capital.
Singapore-based Timothy Zee leaves PAG
Timothy Zee, a Singapore-based managing director with PAG whose primary responsibilities included deal sourcing and business development, has left the firm after 10 years.
Fund focus: LGT eyes a buying opportunity
As LGT Capital Partners starts deploying its USD 1.65bn Asia fund-of-funds, it hopes that rationalising valuations and some consolidation of GP relationships will contribute to a strong vintage
PAG's Hong Kong IPO on hold amid weak market
Asia-focused private equity firm PAG has put its Hong Kong IPO on hold, three sources familiar with the situation told Mergermarket, AVCJ’s sister title.
LGT raises $1.65b for Asia fund-of-funds
LGT Capital Partners has closed its fifth Asia-focused fund-of-funds with USD 1.65bn in commitments, up from approximately USD 1bn in the previous vintage.
L Catterton seals $360m Asia strip sale
A Hamilton Lane-led consortium has agreed to support a USD 360m continuation fund comprising structured minority interests in investments held by consumer sector specialist L Catterton’s third Asian fund.
Placement agents: Asian entries
Asia’s sparse placement agent scene is fleshing itself out despite macro headwinds, but the model is being revised to adapt to a changing market. This appears irreversible
Clifford Chance poaches Asia funds partner from Kirkland
Clifford Chance has bolstered its Asia private funds offering with the recruitment of Liyong Xing, formerly a partner at Kirkland & Ellis.
Crypto: Something for everyone?
Traditional VCs are becoming more active in Asia’s blockchain and web3 space, despite structural and philosophical obstacles to participation. Can they withstand the crypto winter?
