Analysis
China cross-border deals: Inside out and outside in
Many mid-cap Western companies want to boost their China exposure, but lack the resources to address the market properly. Some – but not all – PE firms are able to pick apart broken strategies and build them anew
Big data, big deal?
Following the success of India’s business process outsourcing industry, big data is being touted as the next major opportunity for technology investors in the country
The debt deadline: Japans's SMEs at a crossroads
Japan’s Debt Moratorium Law, seen by some industry participants as an impediment to PE deal flow in the last three year, is set to expire at the end of March. Does this spell new opportunities for the industry?
4Q analysis: End-of-year blues
Direct investors stand out as those around them fade; the fundraising climate continues to weaken; a few bright spots in the IPO market
Project Europe: China targets high-end manufacturing
Chinese strategic investors are bidding up manufacturing assets in Europe. There is room for PE players to participate, but they will generate value by identifying high-tech targets early in the value chain
China's B-share exodus
China International Marine Containers’ landmark B-share to H-share conversion could be the first of many such migrations. Does Hony Capital’s participation point to a role for private equity?
China take-privates: A challenging proposition
Management buyouts of US-listed Chinese companies are all the rage, but these transactions present unique challenges in terms of execution. Only the good survive.
India webinar: Relighting the fire
Investor sentiment toward Indian private equity has weakened considerably over the last year. AVCJ, supported by KPMG, hosted a webinar in December at which industry leaders assessed the various challenges
VCs and mobile internet: The race to stay relevant
Venture capital investors targeting the mobile and social media space are only as good as their understanding of the consumer habits and technologies that underpin industry trends
2012: That was the year that was
The broad trends and particular highlights of private equity fundraising, investment and exit activity in Asia
Predictions for 2013
Growth capital, buyouts, public and private exits, secondaries and new frontiers – private equity professionals from Asia and beyond predict the future
China wine funds: Sour grapes?
Wealthy Chinese may recognize wine’s investment potential, but inexperience, taxation issues and limited access to top-tier vineyards means many domestic wine funds often promise more than they can deliver
Secondaries: Sleight of hand
Are LPs using synthetic solutions like total return swaps to trade fund positions behind the managers’ backs? Some industry participants are suspicious; others are skeptical.
Cleantech: Moving beyond subsidies
With its reputation for lackluster returns and dependence of government support, investors have shied away from cleantech, but GPs are bullish about its ability to stand on its own feet
Beyond banks: Alternative financing in India
Recognizing India’s demand for financial products that involve more than just equity, traditional PE firms are targeting structured credit, joining distressed players that used to call the territory their own.
Power play: India's power sector
Private equity investors are less bullish on India’s power sector in the light of widespread negative investor sentiment, but lower valuations and long-term fundamentals still offer attractive entry points
India exits: Sticking point
India’s private equity industry is caught in a bind: LPs are wary of committing capital to GPs without evidence of exits, but weak capital markets – and in some cases an unwillingness to sell – are limiting liquidity
VC tackles China dining: Fast food, quicker expansion
Qiming Venture Partners decided to create a China casual dining chain from scratch in order to replicate an outsourcing model that has worked in other industries. Cloud 9 is now aggressively building out its network
Co-investment: Friends with benefits
Co-investment deals have been on the rise in recent years, enabling GPs to take on bigger deals and offer LPs fee-less returns. What is driving this trend and are such deals always a good idea?
Auctions: The new normal
Private equity firms love selling assets via auction but hate buying them through such channels. As Asian company owners become more sophisticated, bidding contests for large assets are becoming more frequent.
PE & PR: Private equity's public face
Private equity is more entrenched and better understood in some Asian markets than others. What do the various stakeholders - entrepreneurs, government, media, public - make of the asset class?
PE & PR: Sustainable alpha
Increasing numbers of PE firms are upping their commitment to environmental and social governance issues at future and existing portfolio companies. What’s their motive?
PE & PR: A good citizen
Private equity globally is under more scrutiny from more directions than ever before, placing a higher value on good branding and reputation. Does the asset class also suffer from the same profile problem in Asia?
Asia fundraising: In Volcker's shadow
With the Volcker Rule and Basel III compliance forcing US financial institutions to pull back from private equity, some Asian GPs are in a state of flux. New fundraising strategies are required