Foundation Private Equity
LPACs: Conflicts and complexity
The combination of a maturing Asian private equity landscape and a fast-emerging continuation fund opportunity is placing greater emphasis on the role of the LP advisory committee
China fundraising: Zombie apocalypse?
A pullback by US investors is exacerbating difficult fundraising conditions in China. Most managers are either delaying their return to the market or pulling every lever to secure commitments
Foundation secures secondary deal with India's Carpediem
Asia secondaries specialist Foundation Private Equity has acquired stakes in three portfolio companies held by India’s Carpediem Capital through the purchase of new and existing shares.
2023 preview: Exits
IPOs and trade sales have been muted in 2022, but industry participants expect strategic investors to be more active in Asia next year, especially as valuations moderate. Increased secondary deal flow is also likely
Asia secondaries: Layers and structures
With private market valuations yet to see a meaningful reset in Asia and heightened risk factors in China, investors are exploring ways to drive secondary deal flow by closing the bid-ask spread
China secondaries: Liquidity play
Under pressure to generate returns amid a challenging fundraising environment, Chinese GPs are beginning to revise pricing expectations to get traction with continuation funds
Profile: Foundation Private Equity’s Jeremy Foo
Moving from direct investment to secondaries with Foundation Private Equity took Jeremy Foo outside his comfort zone, but past experiences of liquidity crunches have proved instructive
Deal focus: Foundation eyes Bright future
In leading a USD 82m cross-currency restructuring of a consumer-tech portfolio managed by China’s Bright Capital, Foundation Private Equity opted for a structure that is unusual yet prioritises alignment
Deal focus: India's Prime Venture secures four-year extension
Foundation Private Equity has made its first foray into India, taking out all the LPs in Prime Venture Partners' debut fund through a tender offer process
GPs see more paths to liquidity in Southeast Asia - AVCJ Forum
SPAC deals and GP-led secondary transactions are bringing more liquidity options to Southeast Asia, a geography where private equity investors have often struggled to achieve exits, industry participants told the AVCJ Singapore Forum.
Secondaries: Straight outta Asia
The growing secondaries opportunity in Asia is attracting more global capital, but managers with strategies dedicated to the region are few. This is changing, albeit gradually
Q&A: Foundation Private Equity’s Jason Sambanju
Having made his name in Asia secondaries at Paul Capital, Jason Sambanju struck out on his own in 2017 with Foundation Private Equity. He explains why there is room for a local GP dedicated to LP-style deals
Tikehau backs Asia secondaries specialist Foundation PE
Tikehau Capital has taken a majority interest in dedicated Asia secondaries investor Foundation Private Equity, supporting the firm’s $110 million first close on its debut fund.
Asia secondaries: Continuation conundrum
The rapid ascent of single-asset continuation vehicles in the US and Europe might be emulated in Asia, but investors are approaching the market with measured optimism
ESG & secondaries: Finer filters
Rising sustainability standards pose unique challenges for investors that prefer buying into existing portfolios. Interestingly, increasingly complex deal structures are making it easier
Asia secondaries: Waiting for the flood
Secondary investors expect deal flow to rebound strongly once there is more certainty on valuations. In Asia, the opportunity will be larger and more nuanced than the post-global financial crisis frenzy
Preferred equity: Last in, first out
Issuing preferred equity to secondary investors is a short-cut to liquidity for China VCs with valuable portfolios but few exits. The strategy isn’t universally popular, but what will it take for GPs to make the leap?
The crystal ball: Predictions for 2019
Industry participants share their outlooks on some of the biggest economic drivers of the day, including fast-growing sectors and shifting deal making factors across Asia’s varied markets
Secondary restructurings: Opportunistic delays
Creative secondary deals are presenting private equity investors with new options for extending exposure to prized assets. Although a modest trend, it evokes big questions about best conduct
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
Temasek and CFOs: PE to the people
It has taken Temasek Holdings four secondary transactions over 12 years to create a product that allows retail investors to participate in its private equity portfolio. Will others follow suit?
GP-led secondaries: Stigmatized no more
Traditionally perceived as a recourse for private equity firms in trouble, GP-led secondary transactions are starting to be used by brand-name managers as a liquidity solution for LPs
Deutsche's Jason Sambanju launches secondaries firm
Jason Sambanju, the former head of Asian private equity secondaries at Deutsche Bank, has launched his own investment firm – Foundation Private Equity – which will pursue secondary opportunities in the region.