Analysis
Indonesia tech: Sleeping giant
Bullishness around Indonesia’s young online economy has been encouraged by a handful of VC-backed homeruns and promising demographics. Achieving scale in new business models remains a sticking point
Indonesia PE: The long game
Indonesia is an attractive market for private equity investors thanks to its strong macro fundamentals, but sourcing large-cap deals remains a protracted process as family owners look for partners they can trust
Indonesia tech IPOs: Fringe benefits
The Indonesia Stock Exchange has seen the first IPOs of domestic tech start-ups in Kioson and M Cash. The appeal of these listings may lie chiefly on the non-financial side
1Q analysis: The inevitable slow start
Traditional buyouts slip into the shade, allowing education and technology to shine; China IPOs and secondary buyouts stay strong in a weak exit market; fundraising suffers an early-year blip
Private equity AGMs: In the spotlight
The quality of a private equity firm’s AGM says a lot about the quality of the firm itself. LPs make their assessments based on informal conversations and observations as much as what happens on stage
Japan benchmarking: Body of evidence
The Japan Private Equity Association is pushing its members towards a performance benchmarking system in the hope that it will help persuade more foreign LPs to back local managers
Asia education: School's in
Education has emerged as the latest hot sector for private equity in Asia on the back of opportunities created by rising incomes and regulatory change. But higher valuations mean more pressure to deliver
Portfolio: Allegro Funds and Carpet Court
Carpet Court’s attractive growth plan was held back by its structural weaknesses. Under the ownership of Allegro Funds, the company has new focus as the leader in New Zealand’s fragmented flooring industry
Secondaries: Holding patterns
Advisory firms focused on private equity secondaries are confident that Asia will fulfill its potential as an expansion market for their services. They will not be able to effectively seize the opportunity remotely
Impact agenda: Attracting institutional capital
Global PE firms are launching impact funds tailored to appeal to institutional investors that have so far largely ignored the space. There will be growing pains, but the benefits should be wide-ranging
Cybersecurity: The dark side of disruption
Asian GPs are putting themselves at unnecessary risk by failing to prioritize cybersecurity. However, even smaller players with fewer resources at their disposal can implement effective countermeasures
Long-term capital: The patient play
Permanent and long-term capital structures are an attractive proposition for a wide range of players in Asia’s PE market, but bringing them from theory into practice presents numerous challenges
China family offices: In the money
Having made their fortunes turning start-ups into internet behemoths, Chinese tech founders are increasingly turning to family office structures for wealth management. It is an evolutionary process
Traditional Chinese medicine: Innovating antiquity
As the time-honored but largely unprofessional industry of traditional Chinese medicine reinvents itself for the 21st century, private equity could play a role in a massive healthcare overhaul
China-India tech investments: A running start
The past 12 months has seen a long-expected surge of investments into India’s technology sector by Chinese financial and strategic investors. They are providing a significant boost to the local market
Strategic players in China's tech space: The upstarts
A new generation of Chinese technology companies, led by Toutiao, Meituan-Dianping and Didi Chuxing, is challenging the incumbent giants. It is the inevitable consequence of a more complex environment
China buyouts: Responsible owners
From privatizations to succession planning to corporate carve-outs, China-focused GPs are seeing an increasing number of control buyout opportunities. But are they positioned to take full advantage?
Auto technology: Investment vehicles
New and old players are vying for market share as the global automotive industry experiences a multifaceted reboot. Investment inroads abound, but there is much uncertainty in the evolution
Japan mid-market: Realignment issues
Competition is intensifying in certain segments of Japan’s middle market, driving up valuations. Private equity firms must consider how they position themselves to maximize deal flow
Australia's IFM: The customized approach
IFM Investors has moved from fund-of-funds through co-investment to a direct approach designed to meet its superannuation fund clients’ concerns about access, cost, and transparency. Is it working?
Australia distress: The luxury of time
Two pieces of legislation – one enacted and the other pending – are expected to facilitate corporate restructuring in Australia. It remains to be seen how turnaround investors take advantage of this
New Zealand PE: Hidden gem
Private equity is taking a bigger piece of New Zealand’s small economic pie. Investors must act opportunistically to exploit substantial potential in an inconspicuous but engaging middle market
Australia consumer: Attitude adjustment
Demographic shifts are prompting Australian GPs to reevaluate domestic consumer plays with an eye toward processes rather than goods. Overseas markets are an increasingly important part of the equation
Portfolio: Ekuinas and Al-Ikhsan
Ekuinas sees Al-Ikhsan as a model Malaysian entrepreneurial success story, and since its investment the firm has focused on preparing the company to become a leader in Southeast Asia’s budding sportswear market
