Asia
AVCJ journalists win awards
Asian Venture Capital Journal was honored at the 2018 State Street Institutional Press Awards, Asia Pacific, winning three categories outright and receiving highly commended citations in two more.
PAG confirms $6b close on third Asia buyout fund
PAG Asia Capital has announced that its third pan-regional fund has closed at the hard cap of $6 billion – confirming an AVCJ report from last week.
LPs still keen on Asia despite slow distributions - AVCJ Forum
Institutional investors remain committed to Asia even though distributions from funds targeting the region can be slower to come than those in the US and Western Europe, the AVCJ Forum heard.
China's Ucommune gets $200m in Series D round
Chinese co-working space operator Ucommune, formerly named UrWork, has raised $200 million in Series D funding led by All-Stars Investment, with participation from CEC Capital.
GP stakes: Succession scenarios
Funds dedicated to acquiring stakes in alternatives managers represent a small but growing industry niche. They target GPs with strong records, stable fee streams and a need to address inter-generational change
Weathering cycles requires focus on fundamentals – AVCJ Forum
Private equity firms looking to maintain momentum across macro cycles must focus more on asset selection and value creation, industry participants told the AVCJ Forum.
GP stakes: A matter of ownership
Many private equity firms in Asia have been approached about selling a GP stake, whether it is to facilitate succession or in return for supporting a fundraise. Responses to such propositions are mixed
PAG to make first and final close of $6b on third Asia fund
PAG Asia Capital is set to make a first and final close on its third pan-regional fund on November 15 at the hard cap of $6 billion. The vehicle has been in the market for approximately six months, having set an initial target of $4.5 billion.
Operational value-add: Sweat equity
As Asian GPs trial a range of operational value-add strategies with an eye on shifting market dynamics, they are discovering that helping portfolio companies requires self-inspection
Operational value-add: Sign of the times
Budding interest in operational value-add marks a new level of maturity in Asian private equity. Trial-and-error experimentation has progressed slower than the macro motivators
Q&A: Warburg Pincus' Chip Kaye
Chip Kaye, co-CEO of Warburg Pincus, discusses market fluctuations, global dislocation, expanding into Southeast Asia, raising a companion fund for China, and innovation in the secondaries space
Asia private equity: Tipping point?
Asian PE appears to be entering a transitional period as an assortment of macro issues loom over the global economy. GPs anticipate an adjustment in valuations, but woe betide he who tries to call the cycle
SBI-backed Bcause gets funding for Asia crypto push
Bcause, a US-based cryptocurrency services company backed by SBI Holdings has received a commitment of undisclosed size from China Health Checkmate (CHC) to support an Asian expansion.
3Q analysis: Favoring the few
Brand names dominate Asia fundraising to an unprecedented degree; China IPOs continue despite weakening markets; Taiwan, Australia and Singapore deliver an unlikely investment boost
Bain seeks $3.5b for fourth Asia fund
Bain Capital Private Equity has set a target of $3.5 billion for its fourth Asia fund and is expected to complete a first and final close in December.
Asia PE salaries rise as war for talent intensifies - survey
Private equity compensation rose across the board in Asia Pacific last year – a trend that is seen to reflect rising competition for talent as the number of firms and volume of capital in the region continues to grow.
CLSA launches early-stage fintech unit
Hong Kong’s CLSA has launched an investment unit called AlphaLabs that will back early-stage financial technology companies in Asia.
Shaw Kwei closes fourth Asian fund at $812m
Shaw Kwei & Partners, a middle-market private equity firm that primarily focuses on the industrial, manufacturing and services sectors in Asia, has closed its fourth fund at $812 million.
Avenue Capital raises $450m for Asia special situations fund
Avenue Capital Group has rebooted its Asia franchise by raising a $450 million fund that will target special situations opportunities across the region.
PE exposure helps Asian family offices outperform peers - survey
Asian family offices outperformed their counterparts globally in 2017 thanks to their relatively high exposure to private equity and emerging market public equities, according to a survey.
Asia leveraged finance: Institutional aspirations
PE firms can obtain financing for leveraged buyouts in Asia on increasingly favorable terms, but this doesn’t necessarily point to institutionalization – or at least, not yet. For now, banks still lead the way
Asia fundraising: The $10b club
Hillhouse Capital has broken the record for Asia private equity fundraising by collecting $10.6 billion for its most recent vehicle. But how will the firm put all this money to work?
Secondary staples: Structural dynamics
GP-led restructurings are going mainstream, including complex transactions that combine primary and secondary commitments. As deal demand grows, so do concerns about risk
Equis hires UTIMCO's Mark Warner as partner
Asia-focused infrastructure investor Equis Group has appointed Mark Warner, who previously led natural resources investments at the UTIMCO, the University of Texas and Texas A&M University endowment, as a partner.