Analysis
Asia's sovereigns: Partners or competitors?
Asian sovereign wealth funds are increasing their exposure to private equity firms globally. They have one eye on returns and another on beating GPs at their own game
China MBOs: The problem with privatizations
With stock prices undervalued, company chairman and private equity investors are eyeing potential privatizations among US-listed Chinese companies. It isn’t as easy as it seems.
China forestry assets: A due diligence nightmare
Opaque regulation and uncertainty about ownership in China’s forestry industry represent a challenge to strong investor oversight.
China due diligence: Suspicious minds?
The quality of private equity firms’ China due diligence has been called into question over the last 12 months - growth capital players may have too little time and too much money.
Asian infrastructure: Building blocks
There is no denying the potential for infrastructure investment in Asia. Although the policies and structures governing private equity involvement are improving, it remains difficult terrain.
Skylark exit helps consign buyout boom to history
With Skylark sold and Yayoi likely to follow it, Japan’s megadeals of 2006-2008 are finally being dismantled and the – relatively meager – profits returned to investors
VCs monetize energy efficiency
Chinese government incentives to firms operating in the energy-efficient vehicles industry have been generous. Is there a catch?
China exits: How much longer can the pre-IPO party last?
Chinese private equity funds that were drawn into the market by high public exit valuations are being given pause for thought. It represents a tipping point for Shenzhen’s ChiNext and SME Boards
Diamonds lurk among the Japanese midcaps
Deal-making opportunities remain in Japan’s mid-cap space, spurred by domestic consolidation and corporate ambitions for overseas expansion
Japan's secondary funds look to consolidate
The cross-ownership of Japanese companies creates rich pickings for secondaries players looking to gather up and exit
Third Quarter 2011: Venture capital deals steal the spotlight as buyouts wane
Third quarter analysis: Early-stage deals gain traction in Asia; mixed messages on China fundraising; weak public markets see trade and secondary sales thrive
Japanese LPs: Conservative investors
With Japanese LPs still wary of private equity investing amidst ongoing global economic uncertainty, GPs find it difficult to secure commitments
Fund formation: Singapore asserts its onshore qualities
Until two months ago, Han Ming Ho, a Singapore-based partner at Clifford Chance specializing in fund formation, had never heard of buyout firms using his home city as a conduit for investments into Australia. “It had never been mentioned before and then...
Australia portfolio companies: Debt burdens
High profile debt woes among portfolio companies in Australia has put some private equity firms on the defensive – for now
Telecom firms struggle to offload towers
India’s cellular towers are crucial in supporting its burgeoning mobile market, but when it comes to selling these assets, operators find that less may be more
Investors in the dark on Indonesian bank ownership
Foreign investors in Indonesian banks might soon face a conundrum: After years spent working to establish a local presence in the market, they may be forced to sell down.
India's alternative lenders
India needs alternative funding channels. A characteristic of most financial sectors in emerging nations is limited product range, which means capital often fails to reach those enterprises with the potential to deliver the best returns. A truck company,...
Group-buying sites remain a VC risk
Group-buying websites in China is the trend that keeps on growing. In the last 18 months, an estimated 3,600 participants entered the market. Industry sources say 10% of those have received capital from outside sources – much of it from domestic and overseas...
Chinese outbound M&A: Unfamiliar territory
Griffin's Foods is inching its way to market. For some weeks now, rumors have been circulating that Pacific Equity Partners (PEP)-owned New Zealand snack foods business was being primed for sale. The whispers accelerated last week when reports emerged...
Japanese outbound M&A: Strategic imperative
Indonesian snacks and beverages producer GarudaFood appeared to be heading The Carlyle Group’s way in mid-June. The PE firm was said to have outbid Japanese beverage firm Suntory by agreeing to pay $200 million for a 25% stake in the company. Then silence....
PE firms struggle to secure Woori stake
It was the $6 billion question: Would the Korean government sell control of the country’s third-largest lender to a private equity firm? Had the answer been yes - and Korea Deposit Insurance Corp. (KDIC) exited Woori Financial Group to one of three local...
Private equity's fashion fix
Fashionable women the world over aspire to own something – a handbag, a coat, a pair of leather pumps – by a designer of such legacy and prestige as Valentino. But in May 2007, global private equity investor Permira pulled the ultimate one-upmanship:...
Japan's airlines explore budget options
The next 18 months will see Japan finally fall in with what has become an established trend regional and global aviation and roll-out low cost carriers (LCCs). Private equity has featured in the development of these airlines in Asia, notably Malaysia-based...
Australia pursues Myer profits offshore
The Australian Tax Office (ATO) tells AVCJ that it can’t comment on an ongoing legal matter. This is unfortunate because no else understands how the country’s main revenue collector picks its fights – or what message it wants to send to foreign investors....