Fundraising is difficult for all but the fortunate few private equity managers in Asia. GPs are delaying launches, shaking up strategies, and offering sweeteners; LPs are in no hurry to make commitments
IPOs and trade sales have been muted in 2022, but industry participants expect strategic investors to be more active in Asia next year, especially as valuations moderate. Increased secondary deal flow is also likely
More LPs are considering sales of private equity positions via the secondary market as they find themselves overallocated to the asset class following sharp adjustments in public markets valuations, but Coller Capital has yet to see this translate into...
With private market valuations yet to see a meaningful reset in Asia and heightened risk factors in China, investors are exploring ways to drive secondary deal flow by closing the bid-ask spread
Hidden Hill Capital, which is backed by warehouse operator turned logistics and infrastructure investment manager GLP, has closed its debut growth-stage US dollar-denominated fund on USD 465m with secondaries specialist NewQuest Capital Partners among...
Patrick Reid, a UK-based managing director for alternatives distribution management at Morgan Stanley Investment Management, plots the future of themes around secondaries, longer holds, and hybrid approaches to PE
Quadrant Private Equity has closed a AUD 255m (USD 165m) single asset continuation fund for MotorOne, an Australia-based automotive after-market services provider it has owned since 2016.
China’s Welkin Capital has paused a planned USD 300m London IPO for an entity seeded with assets from its debut private equity fund, citing macro uncertainty and market volatility.
China-focused Welkin Capital is looking to raise up to USD 300m through an IPO for a London-listed investment entity seeded with assets from its debut private equity fund, which closed in 2017.
Hahn & Company has closed a USD 1.5bn single-asset continuation fund for Korea's Ssangyong C&E, giving it more time to complete the company's transition from cement maker to broader environmental services player
A Hamilton Lane-led consortium has agreed to support a USD 360m continuation fund comprising structured minority interests in investments held by consumer sector specialist L Catterton’s third Asian fund.
Under pressure to generate returns amid a challenging fundraising environment, Chinese GPs are beginning to revise pricing expectations to get traction with continuation funds
Affirma Capital is expanding its Korean coverage with the launch of dedicated private debt and secondaries businesses following a relaxation in local regulations.
Temasek Holdings-owned Azalea Investment Management is further expanding retail exposure to private equity through its latest issue of bonds – worth USD 754m in total – backed by LP interests in funds.
Building on unorthodox roots and a highly concentrated portfolio, EmergeVest wants to establish itself as a global-minded Asia specialist in technology-enabled supply chains
Hosen Capital, which makes investments in China’s consumer space, has closed a USD 280m single-asset continuation fund for Kilcoy Global Foods, a beef processing business it has owned since 2013.
Baring Private Equity Asia (BPEA) has completed a stapled secondary of nearly USD 900m, which saw an investor consortium commit capital to its eighth fund and take out positions in two earlier vehicles.
Moving from direct investment to secondaries with Foundation Private Equity took Jeremy Foo outside his comfort zone, but past experiences of liquidity crunches have proved instructive
Australia’s Pacific Equity Partners (PEP) is preparing to launch its second secured assets with an AUD 1bn (USD 724m) target while planning to spin out one of the top-performing Fund I investments into a single-asset continuation vehicle.
In leading a USD 82m cross-currency restructuring of a consumer-tech portfolio managed by China’s Bright Capital, Foundation Private Equity opted for a structure that is unusual yet prioritises alignment
Foundation Private Equity has made its first foray into India, taking out all the LPs in Prime Venture Partners' debut fund through a tender offer process
Cheap debt and a desire for assets that deliver technology-driven growth have propelled Asia private equity investment to new highs and supported a resurgence in exits. But fundraising still fails to convince
There is not enough capital in Asia to address the number of secondary opportunities – mirroring the situation globally – with investors claiming to have more transaction choices than ever before.
Eroding the alignment of interest between GP and LP – by tweaking the partnership structure, a manager overstretching to pursue multiple strategies, or conflicts emerging over secondaries – could harm returns at a time when valuations are already...