Opinion
Core-plus investment: Expectations game
Capital-flooded markets and rising pressures to deploy have precipitated more flexible investment strategies in private equity. GPs must be careful when crossing between asset classes
China SOE investment: Uphill battles
Reform efforts in China’s state-owned enterprise space have experimented in mixed ownership with mixed results. Private equity investors see significant opportunity but must proceed with caution
AI risk: Watching the watchers
Facial recognition specialist Megvii is leading the integration of artificial intelligence into daily life in China. As business details come to light, investor concerns around this process are crystalizing
PE and diversity: Reaching out
Should the private equity industry's efforts to redress its gender balance extend to selling students on the asset class as a fulfilling, long-term career option?
Women in PE: Change on the agenda
As the private equity industry continues to formalize its approach to gender diversity, deep cultural changes will define the difference between best intentions and best practice
India exits: Milking unicorns
Partial exits from Oyo by Sequoia Capital India and Lightspeed India Partners underline the importance of securing liquidity from a technology unicorn while it is still on the rise
China consumer: The low road
Pinduoduo's success in bringing e-commerce to China's lower-tier cities has inspired a host of other start-ups to do the same, but they must be mindful of broader consumer trends
Exit strategy: Good timing
KKR helps make the argument for realizing early exits when it supports a fundraising process, but LP reactions to this approach remain a mix of approval, suspicion and resignation
Southeast Asia PE: Integration angst
Slow progress in the effort to improve Southeast Asia’s multilateral economic cooperation reveals deep rooted challenges for investors, including cultural and regulatory barriers
Fund manager due diligence: Culture club
Truly understanding a GP involves digging beneath the track record and presentations into the human dynamics that can make - or break - a team
China-US trade: Suboptimal outcomes
The China-US trade war appears set to enter new territory as legislators contemplate financial sector clampdowns including stock exchange listing restrictions. Investors are bracing for the worst
The 20-year review
AVCJ's Japan Forum has been going for two decades, a period during which the industry has embarked on several roller-coaster journeys. For now, though, the market appears to be in good health
Sovereign wealth: Getting creative on co-investment
Sovereign wealth funds are dialing up their direct exposure to technology and healthcare start-ups, but this trend is accompanied by a varied collection of co-investment models
Whale watching: Mid-cap GPs engage large-cap LPs
Recent appointments by two Asian GPs - Everstone Group and Legend Capital - offer insights into how smaller managers are trying to forge meaningful relationships with large institutional investors
Southeast Asia venture debt: Getting acquainted
A host of early movers in Southeast Asian venture debt are attempting to fill one of the last big gaps in the region’s start-up infrastructure. The outlook is promising, but adoption rates remain a concern
China-US trade: Opening gambit
Investors see short-term challenges in the ongoing China-US trade conflict, but longer-term opportunities are expected to emerge from the decoupling of the two economic giants
Vietnam PE: Proving ground
Global investors are demonstrating a more consistent sense of confidence in Vietnam as record levels of IPO and private equity activity suggest the country has largely dispelled a reputation for volatility
Asia's middle market: Lost in space
Growing fund sizes in certain Asian markets are redefining what constitutes a middle-market GP. Are these managers evolving alongside the opportunity set or careering dangerously outside of their sweet spot?
Southeast Asia VC: Growth agenda
Growth funds targeting B and C rounds for technology start-ups continue to gain traction with Southeast Asia venture capital managers keen to fill the late-stage funding gap
Indonesia: All about the tech
The center of gravity within Indonesia's private markets appears to have shifted from PE to VC. Is it a structural or a cyclical phenomenon?
EVs: Chemical balance
Investors targeting electric vehicles must consider strategies that support the underlying technical development of the industry. The underdeveloped battery segment is ripe for digitization
China's acquisitive conglomerates: Tables turned
The troubles at China's HNA Group, Wanda Group and Anbang Insurance have removed a once popular exit channel for private equity, but now GPs may see these companies as a source of deal flow
China fundraising: What LPs want
Investors share the most important qualities that can help Chinese GPs gain traction in a challenging fundraising environment
Asia PE: Shifting sands
The private equity industry in Asia is bifurcating on various trend lines around fundraising, exits, and institutionalization. GPs may require a more complex playbook to survive and thrive