Asia
MBK sets $6.5b hard cap for fifth North Asia fund
MBK Partners is looking to become the sixth pan-Asian private equity manager to cross the $6 billion threshold, having set the hard cap for its fifth fund at $6.5 billion.
Impact investment: Gray areas
The notion of delivering measurable positive social and environmental impact while simultaneously generating risk-adjusted financial returns has struck a chord with many LPs. But impact strategies can still be a tough sell
Baring Asia to buy Lumenis from XIO for $1b
Baring Private Equity Asia has agreed to buy Lumenis, an Israel-headquartered medical devices manufacturer that counts Asia as its largest market, from XIO Group for a valuation of $1 billion.
Hamilton Lane appoints Asia investment heads
Hamilton Lane has named Mingchen Xia (pictured) and Collwyn Tan as co-heads of the firm’s investment business in Asia. They already cover fund investments and co-investments, respectively, in the region.
KKR targets $12.5b for fourth pan-Asian fund
KKR is looking to raise $12.5 billion for its fourth pan-Asian fund. It is likely to be the largest-ever Asia-focused, US dollar-denominated fundraise, surpassing Hillhouse Capital’s $10.6 billion close last year.
NewQuest collects $1b for Asia secondaries fund
NewQuest Capital Partners has closed its fourth secondaries fund at the revised hard cap of $1 billion, comfortably exceeding the $540 million raised in the previous vintage.
Uncertain times: The outlook for Asia
Private equity activity is lagging in Asia across fundraising, investment and exits as a result of political and economic headwinds. But there is still appetite for new managers and strategies
LPs going direct 'not a front of mind issue' in Asia - AVCJ Forum
Large institutional investors pursuing direct deals on a solo basis represents a logical evolution of the private equity industry and shouldn’t necessarily be regarded as a threat, Asia-focused buyout managers told the AVCJ Forum.
Fundraising gap impedes mid-market exits – AVCJ Forum
Polarization in fundraising has left middle-market investors with difficult options for realizing exits, according to industry participants at the AVCJ Forum.
GPs see specialization as antidote to challenging market - AVCJ Forum
Investors at the AVCJ Forum offered optimistic outlooks for 2020 but said tighter deal markets would demand specialization in defensive sectors and a closer watch on valuations.
Asian outposts: LPs see value in a local presence
Few institutional investors have the scale, resources or mandate to establish private markets platforms within Asia. Those that do are looking to make it pay off through co-investment
LPs rank attitude higher than policy in ESG – AVCJ Forum
Investing with an environmental, social, and governance (ESG) mindset in Asia is more important than having an ESG policy, LPs told the AVCJ ESG Forum.
Due diligence & psychology: Internal audit
PE investors – whether they are putting money into companies or funds – must apply more psychologically informed tactics to remain competitive. It is the industry’s most intellectual frontier
Investcorp backs $500m Asia food fund
Investcorp has teamed up with China Resources and Fung Investments, the private investment arm of the founding family of Hong Kong consumer goods and supply chain conglomerate Fung Group, to raise a $500 million Asia food fund.
Q&A: TPG's Jon Winkelried
Jon Winkelried, co-CEO of TPG, on taking the helm at a founder-led firm, finding growth opportunities in complementary strategies, and negotiating a difficult year for the Rise Fund
HQ hires AB Value's Kitamura for Japan coverage
Motoya Kitamura, previously managing partner of Japanese secondaries investor AB Value Capital Partners, has joined HQ Capital as a managing director.
ESR raises $1.6b in up-sized HK IPO, gains on debut
Pan-Asian logistics and fund management platform ESR gained 5.4% on its first day of trading in Hong Kong after completing Asia's second-largest IPO of the year.
KKR plans Asia tech fund
KKR plans to raise a growth-stage technology fund focused on Asia, expanding a strategy that is already operational in North America, Europe, and Israel.
Manulife secondaries business to target Asia
Manulife Investment Management will target Asia with a newly launched private markets secondary business.
PE-backed ESR relaunches Hong Kong IPO
Pan-Asian logistics and fund management platform ESR has relaunched a Hong Kong IPO that was pulled in June amidst unrest in Hong Kong and concerns about the valuation.
HarbourVest boosts Australia, New Zealand IR coverage
HarbourVest Partners has appointed Warwick Mancini as a principal with responsibility for investor relations in Australia and New Zealand.
Permira closes seventh global PE fund at $12b
Permira has reached a final close on its seventh global private equity buyout fund at the hard cap of EUR11 billion ($12.1 billion).
LGT closes fourth Asia fund-of-funds at $1b
LGT Capital Partners has closed its fourth Asia Pacific fund-of-funds at the hard cap of $1 billion. It had initially targeted a final close in October 2020.
MoFo adds fund formation partner in Hong Kong
Morrison & Foerster (MoFo) has bolstered its Asia fund formation capabilities with the appointment of Nicholas Sheets as a partner based in its Hong Kong office.