Ernst & Young
Japan buyouts: Bucking the trend
Japan remains a private equity hotspot despite muted buyout activity elsewhere in Asia. Take-private and sponsor-to-sponsor opportunities make for a more textured local market
India consumer media: Showtime
Investors navigate slim margins and a complex cultural landscape as new digital channels help Indian media rebound from COVID-19. Sector leaders are flirting with global expansion, but is it too early?
India IPOs: A pleasant surprise
The lack of a reliable IPO channel is a longstanding exit obstacle for venture capital investors in India. Domestic listings may, unexpectedly, prove to be the answer
Japan activists: Enablers or destabilizers?
The corporate governance scandal at Toshiba underlines the increasing influence of activist investors in Japan. For private equity firms, there are two sides to the coin
India-China-US: Byte back
Historically a neutral power, India appears to be siding with the US in a multi-faceted war with China. This could have far-reaching consequences for VC investors and the technology ecosystem
Macro and diversity: All hands on deck
As women participate in economies across Asia in larger numbers, investors must consider how this impacts their target markets. Gender-balanced portfolios will no longer be a nice-to-have
India IPOs: Long-term horizons
Indian PE and VC investors expect domestic and overseas public markets to become increasingly attractive exit avenues for their portfolio companies as the global macroeconomic volatility dissipates
Southeast Asia exits: Greener pastures
Southeast Asia’s internal growth and rising appeal among global investors in recent years have fed expectations that PE and VC exits will follow. The logic is sturdy but detailed projections are elusive
Hong Kong tax: Playing catch-up
Hong Kong is introducing various initiatives intended to encourage private equity firms to bring more of their operations onshore. A failure to act may see Singapore emerge as Asia’s jurisdiction of choice
Valuation standards: Counting their blessings
Asian GPs’ portfolio valuation practices remain largely opaque, despite the value of standard frameworks. LP demand will be key to moving the industry in a more transparent direction
Hong Kong tax: A life less certain
Hong Kong introduced legislation intended to give private equity investors greater tax certainty, but the implementation guidelines have moved it further from this goal. The implications could be wide-ranging
Bain sues Big Four auditor over India kidswear deal
Bain Capital is taking legal action against EY – formerly Ernst & Young – in a US court, alleging that its now worthless investment in India’s Lilliput Kidswear was made on the basis of false financial statements that the accounting firm had audited.
Held to account: The Big Four in China
A legal ruling might ban the Big Four accounting firms’ China affiliates from working on US-listed Chinese companies. VCs aren’t worried about IPO prospects, but there are longer-term concerns
E&Y: India is world’s fourth most attractive FDI destination
India is the fourth most attractive investment destination globally, after the US, China and the UK, according to an Ernst & Young survey. Investors are drawn by the strong potential of the country’s domestic market, cost competitiveness and access...
KKR, Temasek circle India’s TVS Logistics – sources
Private equity giant KKR and Singaporean sovereign wealth fund are among four PE investors said to be in talks to invest around $50 million in Indian logistics company TVS.
India Awards: Financial Advisor of the Year – Ernst & Young
Ranjan Biswas, national director for transaction advisory services for Ernst & Young India, looks at the role financial advisors can play in facilitating private equity transactions.
China exits: How much longer can the pre-IPO party last?
Chinese private equity funds that were drawn into the market by high public exit valuations are being given pause for thought. It represents a tipping point for Shenzhen’s ChiNext and SME Boards
PE-backed IPOs reach four-year high in second quarter
Chinese and Indian firms contributed $2.7 billion of the $17.2 billion raised through IPOs by private equity-backed companies worldwide in the second quarter of 2011, according to Ernst & Young. The proceeds, which came from 45 offerings, represent the...