Analysis
3Q analysis: Haves and have nots
Third quarter analysis: Fundraising fortunes become ever more polarized; Korea continues to be the stand-out buyout market, while India shows growth from a very low base; China IPOs are on the comeback trail
India IPOs: The road less taken
India is launching a pilot scheme that will allow certain companies to list overseas without first going public domestically. VC investors see the positives but they want further clarification on the rules
Acquisition finance: Familiar territory?
Once regarded warily by banks due to the lack of security in providing offshore financing against onshore assets, Asia buyouts that rely on offshore holdco structures are increasingly sought after.
China retail: Asset-heavy to asset-light
Facing competition from e-commerce platforms, China’s traditional offline retailers are moving online – and the ideal combination is a combination of the two. PE investors are seeking opportunity in the disruption
Online tourism: Ticket to ride
Online tourism is on the rise in emerging Asia and numerous venture-backed businesses are looking to hitch a ride on the consumer growth trend. The key is finding the right niche
Portfolio: CVC Capital Partners and Hong Kong Broadband Network
Hong Kong has one of the most saturated and advanced broadband markets in the world. Finding new areas of growth is difficult but not impossible, says Hong Kong Broadband owner CVC Capital Partners
Tech IPOs: An issue of control
Alibaba Group wants the Hong Kong Stock Exchange to permit a bespoke IPO structure that would allow management to retain board control. By refusing, is the bourse going to forgo more China tech business?
CFOs: Hunters, not farmers
The ideal private equity portfolio company CFO is a rare creature in any market. Asia presents its own challenges in terms of recruiting appropriate talent and the issues this person must address
Infrastructure fundraising: A beast with two heads
At one end of the market large institutional investors are looking to access Asian infrastructure through separate accounts or independently; at the other, plenty of LPs are still looking to make fund commitments
Indonesia: Infrastructure gridlock
There is substantial demand for infrastructure investment in Indonesia and plenty of opportunities to participate, yet progress is slow. Does the does the sector still hold promise for private equity?
India real estate: The long game
India's economic slowdown has created opportunities for real estate investors still convinced by the country's long-term fundamentals and with strategies that take capital where it is most needed
China cleantech: Addressing overcapacity
China's cleantech sector was the factory to the world, churning out solar panels and wind turbines for export. After the bottom fell out of the market, domestic demand took center stage - how is PE responding?
India cleantech: Expansion time
PE-backed companies have carved out a sizable share of India's nascent renewable power production sector, particularly in the wind space. The quickest to scale up will gain a competitive advantage
Hong Kong start-ups: The Silicon Harbour
Hong Kong is touting itself as Asia's next great tech start-up hub. It must first address expensive real estate, the role of government as facilitator, and strategic positioning vis-à-vis mainland China
Niche funds: Finding an angle
China has seen a proliferation of niche funds in recent years as GPs try to stand out from the crowd with differentiated strategies. Are investors – institutions, individuals or governments – buying into the story?
Secondaries: Bifurcation point
More LP interests in Asian funds are coming onto the secondary market, but the region remains the industry’s future rather than its present. Which investors will be around to witness it coming to bloom?
Litigation funds: The justice league
Litigation financiers are increasingly looking for opportunities in Asia, many making their investments out of private equity-style funds. But do they bring the same returns?
RMB fund-of-funds: Patience is a virtue
As some global fund-of-funds struggle to raise funds, their renminbi counterparts are struggling to find a purpose – government-backed vehicles excepted. A more mature LP base should bring more demand
Portfolio: Everstone Capital and IndoStar Capital Finance
While PE investors have been keen to capitalize on India’s financial services industry, Everstone Capital took a unique approach to the sector – building an independent non-banking financial company
Patent funds: Creative returns
Asia is now responsible for just over half of all patent filings worldwide. Will independent patent funds, which have already won a niche following in the US, catch on over here?
Asia Incubators: From acorns to oaks
As Asia’s tech start-up community flourishes, more incubators are setting up shop in the region in a bid to emulate Silicon Valley success – but what is the best way to do it?
Taiwan IPOs: An alternative exit
With the nascent T-shares program plus a string of incentives, Taiwan wants to establish itself as a hub for China IPOs. Can it pare down the regulatory detritus and make this dream come true?
Taiwan GPs: Cross-strait strategies
Taiwanese GPs are looking for investments in the higher growth markets of mainland China. But how do they differentiate themselves from Chinese private equity firms chasing similar deals?
Tech giants and VC: When the chips are down
Taiwan has a long history as a tech manufacturing powerhouse, but with the decline of the PC times have changed. Can the wavering tech giants re-invest themselves and what can VC do to help?