Analysis
Australian agriculture: Mean fields?
The Australasian agricultural space is increasingly interesting to LPs that want an inflation hedge and a proxy to rising demand for quality food in emerging Asia, but local superannuation funds are slow to bite
Placement agents: Tapping tomorrow's investors
Asian LPs are a small but increasingly conspicuous part of the global institutional investor community. How can placement agents nurture pockets of growth in a potentially lucrative yet hugely imbalanced market?
China reverse mergers: In through the out door
With China IPOs still stuttering, a number of private equity investors in need of an exit have opted to go public through reverse mergers. Is the risk-reward good enough for this to become the normal?
1Q analysis: Big fish, small fish
Country fund stars, China VCs make their mark on fundraising; the trade sale spike won't be sustained and the IPO surge may falter too; South Korean buyouts continue to create headlines
Operational value-add: Home-made remedies
Private equity firms, and the LPs, are placing greater emphasis on adding value to portfolio companies. But what is the best way of developing operational capabilities in Asia, and who should pick up the tab?
Japan regulation: Taxing tactics
Investors are concerned about the potential repercussions for the economy – and their portfolio companies – of Japan’s staged consumer tax hike. Could it really derail the country’s fragile recovery?
China healthcare: Innovation issues
There is plenty of buzz about investment in Chinese healthcare but the pharmaceuticals segment has yet to fulfill its promise as an R&D hub. Should PE and VC investors be looking for different angles?
Portfolio: CDH, Mekong and Mobile World
Early investor Mekong Capital and recent addition CDH Investments have guided Mobile World through rapid growth and growing pains. Now the Vietnam-based mobile phone retailer is about to go public
India film funding: Bollywood bets
The rapid growth of India’s movie industry is drawing in private equity investors looking for exposure all along the value chain. Those unable to stomach the risk will aim for distribution rather than production
Singapore VC: Silicon dreams
Buoyed by government support and increasing private sector interest, Singapore has created a legion of tech start-ups that now require further investment. Can it become Southeast Asia’s answer to Silicon Valley?
China regulation: Big before their time
Domestic Chinese private equity managers are now officially permitted to pursue multiple strategies. But is the industry ready for the ‘mega asset management' model the regulator envisages?
PE and elections: A vote of confidence?
Investors often cite elections as impediments to deal flow, as applications are delayed or applications held over until votes are counted. With Indonesia and India preparing for elections, what does it mean for PE?
Portfolio: CITIC Capital Partners and Elgin Equipment
When CITIC Capital Partners joined Audax Group in acquiring Elgin Equipment, its brief was to re-position the clean coal equipment business from low-growth America to high-growth China
Korea M&A: Regulatory relief
The Korean government’s recently announced M&A stimulation package includes a relaxation of restrictions on domestic private equity firms. But how much change are these reforms likely to bring?
Stapled secondaries: Shades of gray
Secondary restructuring opportunities are on the rise in Asia, but investors are wary of giving managers fresh primary capital on top. Deal flow is hard to source, even harder to execute, and highly bespoke
Indonesia acquisition finance: Squeezed at the margins
With bumper LBOs few and far between, banks see limited opportunities for leveraged finance in Indonesia. And in the prevailing economic climate, they aren’t generous at acquisition or operating company level
Indonesia VC: Lucrative clicks
E-commerce has emerged as the star of Indonesia’s expanding start-up space. Early-stage investors are scrambling to fill their shopping carts, but you have to pick the right spots and deploy the right resources
Indonesia macro: Tipping point?
Indonesia appears to have weathered the worst of its recent economic storms, but the route towards long-term sustainable growth has yet to be mapped out. PE investment theses rely on sensible navigation
China tech M&A: Money to burn
Chinese technology firms are becoming increasingly acquisitive, with certain players snapping up assets within months of going public. What is driving this change?
India due diligence: Smoke and mirrors
A number of accounting scandals involving India-based private equity portfolio companies has contributed to the erosion of investor confidence in the country. Due diligence processes are being tightened in response
Australia buyouts: Patience is a virtue
Due to a combination of factors, not least the revival in Australia’s public markets, mid-market private equity deal flow was slower in 2013 than previous years. GPs are waiting for conditions to become more opportune
The IT crowd: Australia embraces crowdfunding
Australia has embraced crowdfunding as a supplement to an early-stage traditional VC market that has yet to regain its former strength. Industry participants are seeking differentiation and deregulation
Australia distress: Sifting the strain
The low-hanging fruit created by the post-global financial crisis troubles of highly-leveraged Australian companies has mostly been picked. Distress investors are looking in smaller and less obvious places
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