Analysis
ASEAN: The integration effect
The Association of Southeast Asian Nations is gradually bringing the region’s economies closer together. Private equity investors stand to benefit but not all businesses are suited to cross-border expansion
SE Asia media peaks PE's interest
A year ago, global private equity firms stopped ignoring Southeast Asia’s media industry and put the sector on their priority list. What changed?
Southeast Asia's renewables: Ignored no more?
Aggressive government targets have drawn private equity and venture capital firms into Southeast Asia’s renewable energy. But success and sustainability depend on more than just government subsidies.
PE and FATCA: Complain but comply
Asian GPs have lagged behind other regional institutions in getting to grips with the Foreign Account Tax Compliance Act. The time has come to face the impact these rules could have on local firms
SEC registration: Are Asian GPs taking it seriously?
Three months after US regulators introduced new rules for reporting and registration of private investment advisers, PE firms are changing the way they do business – but much less so in Asia than in the US
Endowments: Still gold standard?
North American endowments took a beating during the financial crisis and the recovery process has been slow. But they retain the ability to uncover high-quality GPs, in the US and beyond
Asia LP interests: The price factor
Global LPs have no intention of reducing their exposure to Asia. This has put upward pressure on secondaries prices, but assessing fair value is more difficult than it seems
India embraces e-payment
With established market leaders in India’s mainstream e-payment space, VCs are targeting opportunities in the unbanked and mobile payment markets
Indian microfinance: Back from the brink
The dust is finally starting to settle on the suicide scandals that rocked Indian microfinance in late 2010. Is the industry still an attractive proposition for private equity?
Australia's old media: Where did it all go wrong?
Traditional media in Australia has been colonized by buyout houses since 2006, but a number of these assets are now in distress. Can private equity use this situation to its advantage?
Growth capital mezzanine: The third way
Growth capital mezzanine players are still few in number in Asia. Will struggling equity markets and tighter credit conditions open up the market for these alternative capital providers?
Innovative intermediaries: China's boutique advisors
Boutique corporate financial advisors are expanding in China, taking advantage of deals that lie beyond the reach of global investment banks. In the absence of pre-IPO deals, future success relies on differentiation
TPG secures pact with Korea's Vogo
Comparisons between TPG’s tie-ups with Northstar and Vogo are flawed – one is fully formalized, the other is loose. But the private equity firm does appear ready to re-engage with South Korea after a long absence
VCs park their cash in Indian taxi firms
Venture investment in Indian taxi companies is no new phenomenon, but the profile of the firms which are commanding capital appears to be changing
Art and wine funds: The Passion Portfolio
The increase in wealth creation in China has created a generation of HNW individuals intent on investing in art. But can the momentum behind this so-called emotional asset class be sustained?
Chinese outbound strategies bet on home's appeal
Chinese companies have been more ambitious in seeking offshore acquisitions of late, but private equity players remind companies that the best tactic is to act according to ability.
China property firms turn to PE as lender of last resort
Tightening policies imposed on Chinese real estate developers in recent years have accelerated the appetite for alternative financing channels. It represents a massive opportunity for private equity
Indian family offices add to GPs' options
An increasing number of Indian PE firms are tapping local family offices for capital. Will this new wave of investors stick with the asset class in the long term?
Energy investing: Keeping Asia's lights on
North American PE firms have become established oil and gas investors. Asian GPs are only just coming around to the idea, but the long-term potential is huge – provided you hire the right management
Private equity in China: Enemy of the state?
The likes of Hony Capital and CITIC Capital have made a name for themselves by turning around loss-making state-owned enterprises. Although lucrative, this area is not for PE firms that are either too foreign or too faint-hearted
Foreign RMB funds at a crossroads
Apparent confirmation that foreign-invested renminbi funds can’t qualify for local treatment has left the leading overseas private equity firms in a quandary. Life has become harder, but all is not lost
Bridging the gap: China fund T&Cs
Differences between the Chinese and US private equity markets are reflected in fund terms and conditions. LPs that back managers operating US dollar and renminbi funds should look carefully at the small print
Russia builds PE ties with China
Russia and China’s sovereign wealth funds have joined forces to boost cross-border trade. For Moscow, it is a much-needed opportunity to diversify the economy and attract more foreign investment
FX hedging: Know your risk
Private equity firms are hedging the currency risk of their investments in Asia Pacific longer and later in the investment cycle than ever before