Analysis
Asia travel & hospitality: Ready to board?
The outlook for international tourism remains uncertain, but this hasn’t stopped some private equity and venture capital investors targeting travel and hospitality assets in Asia. It pays to be selective
Australia IPOs: Window of opportunity
Australian public market investors are famously unforgiving of private equity when IPOs fail to perform. The markets are open for business again, but how long will the golden period last?
The big C: China biotech start-ups get cutting edge on cancer
The evolution of cancer treatments in China is a bellwether for biotech development in the country and its capacity for genuine innovation. Most PE and VC investors aren’t shying away
Taiwan & tech tensions: Silicon island
Taiwan’s technology sector must play an awkward balancing game amid US-China tensions. This could be a surprisingly favorable position for opportunistic investment and global diversifications
Asset allocation: So long, silo?
The total portfolio approach remains on the margins of asset management. Advocates of the model hope LPs will reconsider as they look for alpha beyond the areas where they normally find it
Virtual AGMs & IR: Close encounters
The technology is available to facilitate informal discussions at virtual AGMs, but do these solutions present an acceptable substitute for physical interaction, and do GPs and LPs want to use them?
Virtual AGMs & IR: Up in the air
Private equity firms are still finding their feet with annual meetings that no longer take place on the ground. Like it or not, virtual engagement is set to become a larger part of investor relations from now on
Asia consumer & brands: Mark tank
Local consumer brands in developing Asian markets are beginning to displace established global players. Investors are supporting the uprising and contemplating global breakouts of their own
Asia consumer & technology: Multifarious merchants
Technology is changing the way consumers interact with retailers both concrete and virtual. Ramping up the sociability factor has become a priority amid increasingly pervasive mechanization
Asia consumer: Sale of the century
The traditionally slow-changing retail sector received an unexpected incentive to smarten up quickly this year. When the dust settles, shopping will never be the same again
Model behavior: China to Southeast Asia tech transplants
Plenty of internet start-ups in Southeast Asia have been inspired by Chinese forebears, but transplanting ideas from one market to another is often fraught with complications
Portfolio: Archipelago Capital Partners and Timuraya Tunggal
Archipelago Capital Partners is playing a subtle but foundational role in Indonesia’s ongoing industrialization by taking the helm of longstanding chemicals producer Timuraya Tunggal
China apartment rental start-ups: In arrears
There were doubts about the viability of long-term property rental platforms in China before COVID-19. Post-pandemic regulation is creating further problems
Japan fundraising: Middle-market machine
Buoyed by strong macro fundamentals and robust returns, Japan’s buyout managers continue to attract capital while most other strategies across Asia struggle. Will this popularity be sustained?
Southeast Asia start-ups: Trials of leadership
COVID-19 has forced start-ups founders in Southeast Asia – many of whom have never experienced a crisis before – to make tough decisions. For investors, it represents a key test of management credentials
China guidance funds: Money monsters
Government guidance funds are the policy-driven big beasts in China’s renminbi-fundraising landscape. While GPs may have little choice but to engage, they can do so judiciously
3Q analysis: Guarded reengagement
Fundraising focus shifts to China venture, but it’s the same polarization story; upturn in trade and secondary sales suggests the COVID-19 freeze is thawing; healthcare retains its investment appeal
Alternative fund structures: Alternate universe
Irregular fund structures, including single-asset platforms, are often the most appropriate inroad for investors in developing Asia. But it has taken a pandemic to bring them to the fore
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
GP profile: Redpoint China Ventures
Redpoint China Ventures spun out from its US parent in 2016, but the knowledge it retained – and the communication that remains – has been key to moving early on enterprise technology
PE & Asian banks: Once-in-a-decade opportunity
GPs like targeting banks during downturns, investing in stronger players at discount valuations and backing them to come out the other side with increased market share. Will it be more of the same with COVID-19?
Portfolio: Pioneer Capital and Natural Pet Food Group
Pet ownership is no longer a hobby – it’s an emotional market in the same vein as mother-and-baby. Pioneer Capital knows that grain-based kibble will not do
China AI: A rude awakening
Two years ago, artificial intelligence start-ups were the bright young things of China’s technology sector. Now these companies are struggling to justify their lofty valuations
Asia exits: Liquidity lags
Private equity exits – outside of the public markets – are gradually emerging from a COVID-19 hibernation. But sellers must be mindful of timing, structure, and which buyers they are targeting