Analysis
Vietnam investment: Familiar faces
Regional private equity firms are refocusing on Vietnam, widening the exit options for local GPs that specialize in bringing companies to scale. But sizeable deals are scarce and valuations are rising
Japan fundraising: Middle market momentum
Japan’s buyout space has been thrust into the spotlight following a flurry of fundraising activity by domestic private equity firms. Can the middle market retain its sweet spot status?
One Belt One Road: Critical mass
One Belt One Road aims to recast two continents’ worth of disconnected developing markets as a global economic nucleus. It is a geopolitical watershed with deep and complex investment potential
Chinese universities and technology: Making a market
While US universities use licensing to commercialize technologies, their Chinese peers play a more active role in cultivating start-ups because the country has yet to develop a supporting ecosystem
Alternative exits: Tricks of the trade
Trade sales can provide investors in underperforming companies with an opportunity to reshape their investments, but they must be willing to let go of previous expectations and show flexibility
Portfolio: Archer Capital and Australia's Allity
During its ownership of Allity, Archer Capital has focused on putting the aged care company a cut above the competition. Now the GP believes its premium care bet is poised to pay off
Korea healthcare: Quickening pulse
Korea’s government is playing a long game by propping up the local health tech start-up ecosystem. VCs that share this vision are identifying the obstacles and planning for growth
China's sharing economy: The peer effect
Bicycle-sharing is following the lead of ride-hailing in China – with start-ups consuming large amounts of capital in a battle for market share. What does it say about the broader sharing economy opportunity?
Indonesia's GP landscape: Slim pickings
While the number of GPs active in Indonesian venture capital has mushroomed in recent years, there has been no change on the private equity side. The market suffers from talent and perception issues
1Q analysis: Whale watching
KKR’s first close dominates fundraising activity, but mid-market showing still impresses; Japan leads the way as Asia exits remain reasonably strong; investment slows, if China state-backed deals are ignored
Indonesia resources: Storms and blue sky
Indonesia’s resources sector has proven a socially and politically tumultuous investment environment in recent years. GPs are monitoring the headline issues and maintaining long-term confidence
Indonesia VC: Corporate kingpins
The corporates and family groups that dominate Indonesia’s economy are becoming increasingly active in the VC space. To independent GPs, they are more friend than foe, but agendas and approaches vary
China outbound M&A: The smarter money
Despite regulatory curbs on Chinese outbound investment, companies are still interested in M&A opportunities – and they are pursuing less high-profile assets with greater sophistication
Asia fundraising: Retail channels
Private equity firms keen to diversify their LP bases are looking to establish relations with Asia’s high net worth segment, and the private banks and wealth managers who facilitate access to this community
China edtech: Tangible teachings
Educational hardware remains an emerging investment segment globally. In China, cultural shifts are piquing expectations for a local boom, but success will depend on various cross-market diversifications
Secondaries: A cautionary tale
Cracks have appeared in the secondary transactions through which Standard Chartered Private Equity had sought to secure its future, underlining the challenges for investors of bank-led deals
China NPL securitization: Pass the parcel
China wants to use securitization and debt-for-equity swaps to address its non-performing loan problem. Even without structural concerns and political agendas, they are unlikely to supplant portfolio sales
Portfolio: Eight Roads and China's DeltaHealth
Eight Roads decided to leverage the development of China’s healthcare sector by building a hospital, but addressing the various challenges that come with a greenfield strategy requires very patient capital
Due diligence: Behind the curve
Gaining an accurate impression of an industry is vital for investors, but this can be difficult in markets where information is patchy or unreliable. Those who hope to prosper must learn to judge data carefully
VC value-add: Personal touch
Chinese VC firms are expected to offer value-added services as a way of differentiating themselves from the competition. Are formalized concierge services for founders and their families a step too far?
PE and smart manufacturing: Intelligent designs
The emergence of internet-connected manufacturing has created a new investment area that will impact adjacent sectors and even entire economies for decades to come. PE is among the early movers
Dual currency fundraising: Servant of two masters
A resurgence in renminbi fundraising has prompted GPs best known for US dollar funds to enter the local currency market. Addressing conflicts of interest in an increasingly complex industry will prove difficult
China NPLs: Great expectations
Foreign private equity firms are positioning themselves to address an anticipated surge in non-performing loan sales to third-party investors. Will the reality match the hype?
China cloud computing: Billowing forth
China’s nascent cloud computing industry appears set to replicate a US-style growth trajectory. Venture investment, however, may play a larger role due to a range of cultural and economic differences