GPs
Hong Kong promises to push forward with PE tax exemption
Hong Kong’s financial secretary, John Tsang, reaffirmed the government’s plans to extend the profits tax exemption for offshore funds to include private equity, promising to “take forward the legislative work as soon as possible.”
Dinneen leaves Siguler Guff for EMPEA
Patricia Dinneen has left Siguler Guff and joined the Emerging Markets Private Equity Association (EMPEA) as a senior advisor. Ralph Jaeger is replacing Dinneen as portfolio manager responsible for Brazil, Russia, India and China (BRIC), as well as certain...
Australian pension funds: Indecent disclosure?
The Australian government is expected to halt and wind back superannuation fund disclosure requirements that go beyond global norms. Industry participants are hopeful for the best, but mindful of the worst
ESG: Nice guys finish last?
Responsible investment has is now a priority for many institutional LPs. GPs might recognize the importance of environmental, social and governance principles in this context, but acting on them can be challenging
Fund admin: In house or out?
Asian private equity is becoming institutionalized, with increasingly sophisticated and international LPs asking GPs to bulk up their back office capabilities. Third-party administrators sense an opportunity
Navis raises $1.3b for seventh Asia fund
Navis Capital Partners will complete fundraising for its seventh Asia vehicle next week with up to $1.3 billion in commitments from LPs. Work will then begin on a shariah-compliant parallel fund, which is expected to close in June, taking the final total...
CDH to close China fund at $2.55b
CDH Investments will reach a final close on its fifth US dollar-denominated China fund at the end of next week, having raised the hard cap to $2.55 billion in order to accommodate investor demand.
A new constituency
As one GP now puts it, sovereign wealth funds "are now the 1,000-pound gorilla in the room."
CDH chairman eyes China cross-border opportunities
Cross-border transactions will become increasingly prominent in China private equity deal flow as the country’s economy matures and domestic companies seek to expand overseas, according to Shangzhi Wu, chairman and managing director of CDH Investments.
An issue of GP sustainability
Amongst the key issues raised at our AVCJ Forum last November was the fact that many Asian private equity firms lack a long-term business model for both their investments and themselves. This issue will become increasingly important as the industry continues...
Has Asian PE lost its mojo?
Rewind 14 months to the 2012 AVCJ Forum and LPs were lukewarm on Asia. Several institutional investors participating in panels said it was difficult to justify committing more than 10% of their private equity allocation to the region until risk factors...
PSERS, Louisiana Teachers commit to CVC's fourth Asia fund
CVC Capital Partners has received $175 million in commitments to its fourth Asia Pacific fund from Pennsylvania Public School Employees’ Retirement System (PSERS) and Teachers’ Retirement Systems of Louisiana (TRSL).
Onward bound: Asia PE people moves
A selection of the transfers, promotions, arrivals and departures in the private equity community in 2013
Indian GPs emphasize value-add - AVCJ Forum
Operational involvement is increasingly a priority for Indian private equity firms as new money slowly trickles into country-focused funds, GPs said at the AVCJ India Forum.
China due diligence: Playing it safe
The catalogue of deals gone bad in China is long and undistinguished. Private equity firms, and the third-party advisors that work with them, are rethinking their approach to due diligence
PE sees shift in due diligence focus to management - AVCJ Forum
Private equity advisory firms are placing greater emphasis on management integrity as they seek to refine the due diligence process for portfolio companies, say industry participants.
LPs say Asian GPs lack long-term investment model - AVCJ Forum
Global institutional investors are becoming more cautious in allocating capital to Asian private equity funds, citing the region's weakening economic performance and concerns that GPs’ short-term investment horizons are not beneficial to the broader...
VC fundraising: Where angels flock
Venture capital fundraising has become difficult for all but the select few in Asia as LPs concentrate their resources on established names. Where will replacement investors come from?
Q&A: Intel Capital's Arvind Sodhani
Arvind Sodhani, president of Intel Capital, explains his passion for wearable technology, why cleantech is now a turn-off, and how the group’s investment strategy tracks trends in innovation
Malaysia rising
It's been a few years since Southeast Asia, spurred by rising interest in Indonesia, emerged as the hottest region for LPs seeking private equity exposure. While the frenzy has eased recently, the region remains an attractive location, especially for...
On the shoulders of giants: DFIs and first-time funds
Backing from a development finance institution can be the making of a first-time GP in a far-flung jurisdiction. Working with this kind of LP, however, comes with its own set of challenges
Australia’s IFM changes name, opens Tokyo office
Industry Funds Management has changed its name to IFM Investors. The move comes shortly after the Australia-headquartered group consolidated its private equity and private assets divisions into one team and as it expands its presence in global markets,...
Axa spins off private equity unit
Axa Private Equity - now renamed Ardian - has completed its spin-out from the Axa Group in deal which values the unit at EUR510 million ($690 million).
PE managers target diversification through greater transparency
Private equity fund managers are placing greater emphasis on transparency – specifically more frequent and detailed reporting on fund holdings and associated risk factors – as a means by which to differentiate themselves in a challenging fundraising...