• Line in the sand: Healthcare investment in Asia

    17 Jul 2019

    The report assesses the investment patterns of outbound healthcare assets undertaken by investors from Asia, in the light of increased scrutiny of tech investment by the US government.
  • Seeking the driver’s seat

    29 Apr 2019

    Japan’s automakers seize upon opportunities arising from revolutionary changes in the global auto industry, such as car-hailing operations and electric vehicles.
  • Asia Private Equity Review: 2018 year end data issue

    15 Feb 2019

    Highlights from the Asia Private Equity Review's 2018 year-end data issue released in January 2019. 
  • Data File: Healthcare – Oncology (2015- 2018)

    06 Jan 2019

    While the oncology segment of health sciences continues to grow, investment opportunities for private equity investors in Asia are many, offering hope to patients and prospects for investors. Asia Private Equity presents an overview of the sector. 
  • In the name of growth 

    10 Oct 2018

    Two recent, large fundraising developments in China, by HIllhouse Capital Group, a private equity investment management firm, and Ant Financial, a fintech company affiliated with Alibaba, underscore investors' confidence in China's growth. 
  • Private Equity in Asia & South Korea Successes & Scars

    27 Jul 2018

     A luncheon presentation at CFA Korea Society in July 2018 on:

                Private Equity in Asia & South Korea: Successes & Scars
    o   An overview of the private equity’s trends in Asia and in South Korea
    o   South Korea’s latest status in the Asian private equity market
    o   Private equity -
          - Promises: why institutions are making allocations to private equity?
          - Challenges: what are the factors behind Asian private equity’s increasingly rugged investment landscape
    o   What are the winning and the risky investment formulas
    o   What have been the lessons learnt
    o   Case studies: successes and failures
  • Roofs in Demand 

    09 Jul 2018

    Key Points 
    ˖ President Xi Jinping’s advocacy of both housing purchase and rental in October last year has led to an investment boom in this sector –
    ˚ US$1.4 bn committed to 10 property rental platforms since May 2017
    ˚ capital deployments have been focused on China’s affluent cities – Tier 1 and New Tier 1 cities
    ˖ Soaring property prices and millennials’ quest for improved lifestyle have led to increased demand for rental apartments
    ˚ in 2016: the Rmb25,896 commanded per square metre in Tier 1 cities was six times that for 2002
  • The Next Gold Medal 

    09 Apr 2018

    Key Points 

    The 2018 Winter Olympics sheds light on the changes taking place in South Korea where geopolitical forces have been unpredictable

    South Korea, as an export nation, is searching for its next export, with its shipbuilding industry having gone through a period of brutal consolidation 

    Private equity investment trends, especially by non-domestic investors, are hinting that those in Non-Heavy Industries could be South Korea’s next winning industry, based on their commitments and performance results of deals in this sector
  • Healthcare 2017 Update for the period 2012 to 2017

    17 Jan 2018

    Investing in healthcare is now a consummating topic among private equity investors. Following our earlier APER Healthcare Report (2011 - Jun 2016), this 2017 Update (2012-2017) is a comprehensive and incisive summation of the latest healthcare investment dynamics in the Asian private equity market. 
  • A Dragon In Mekong 

    21 Dec 2017

    Key Points 
    The listings of two real estate assets, one in Vietnam and another in Singapore, are sharply different –
    in Vietnam: the debut of Vincom, which raised US$740 m, was the largest of a privately-held company in the country
    in Singapore: the S$64.7m (US$47.9 m) raised by the Singapore-based APAC, was subdued
    Warburg Pincus, an investor in Vincom, records US$348.3 m in distribution
    The Northstar Group, an investor in APAC, records US$21.4 m in distribution
    The share acquisitions of Vinamilk by two trade buyers also highlight the value surge of Vietnam-based assets –
    in Aug 2014: investors paid 85,648 Vietnamese dong, or US$4 for each of Vinamilk’s shares
    in Nov 2017: investors paid 179,805 Vietnamese dong per share 
  • Private Equity in Asia: Successes & Scars

    18 Oct 2017

    Kathleen Ng, Managing Director at Centre for Asia Private Equity Research Ltd. conducted a workshop on "Private Equity in Asia - Successes & Scars" to CFA Society Beijing on October 12, 2017. Workshop covers.

    Part I - Latest Landscape of Private Equity in Asia

    Part II - Private Equity in Asia - Promises, Opportunities & Challenges

    Part III - Private Equity in Asia - Successes & Scars

    Beijing CFA Presentation
  • APER-Next Horizon for HoChiMinh

    12 Sep 2017

    Key Points 
     • Vietnam’s GDP grows at 5.7% during 1H 2017 while real retail sales growth jumped by 8.4% in the same period
     • Since the beginning of the year, HOSE has hosted the debuts of 3 billion-dollar companies, highlighting Vietnam’s buoyant stock market
     • Vietnam recorded its single largest round of investment from private equity investors in 2016 when Warburg Pincus and VinaCapital committed an aggregate US$300 m to a hospitality platform
     • EQT Partners is the latest foreign private equity firm to make its footprints in Vietnam
  • APER - Under Deployed

    Susan Loo    CAPER
    04 Jul 2017

    Key Points
    • Private equity capital is under deployed in Asia. The US$127.2 bn in transaction volume in 2016 represents only 0.48% of Asia’s GDP; whereas in the US, it was more than 1%

    • Asia has room to absorb over US$130 bn of capital deployment from private equity

    • In the 10 years from 2007 to 2016, China’s GDP has nearly tripled, but private equity investment, as a percentage of its GDP, on average, accounted for 0.3% of the country’s economic output

    • Australia/New Zealand enjoys the highest percentage of private equity capital deployment, at 2.5% of its GDP in 2016, suggesting that a market with a mature private equity infrastructure is a magnet for capital 
  • Myanmar – One Year After

    04 May 2017

    Key Points 
    Interest from Australia, Switzerland and UK governments to assess commercial feasibility of wind energy in Myanmar is the latest that evidences keen interest from foreign countries in Myanmar 
    Since August 2016, two Myanmar-focused funds have been launched, each with US$100 m as the target size 
    Myanmar has been able to attract a broad spectrum of investors –
    Global firms: TPG and 500 Startups 
    Development financing institutions and impact investors, including –
    Accion International, IFC, Norfund, and FMO 
  • APER Dataroom - Food & Beverage report (Part I)

    12 Mar 2017

    Asia is now home to 4.5 billion people, or 60% of the world’s population. Its food and beverage (‘F&B’) industry, according to Asia Pacific Food Industry, a trade publication, would have reached US$3.23 trillion in 2016. The sheer population size in this region, along with improved living standards, has propelled the F&B sector to be a main investment theme for private equity investors.
  • APER - Japan Reboots

    07 Feb 2017

    Key Points • Prime Minister Shinzo Abe’s “Kakehashi” initiative announced in 2015 is an impetus for the prevailing technology investment fever • 2016: ◦ US$835 m deployed to technology companies is a 325% increase to that for 2015 ◦ The 112 deals recorded is an all-time high ◦ Deals between US$10.1 m and US$50 m register the biggest increase, suggesting investors are directing capital to mature technology companies ◦ Domestic investors are asserting their profile, accounting for 52.4% of the transaction sum for the year, whereas that for 2014 was 26.6%
  • APER - The Breakthrough

    27 Dec 2016

    Key Points • Launch of the US$1 bn Breakthrough Energy Ventures highlights the growing profile of individual investors • Individual investors have been actively participating in Asia deals, with surging numbers in recent years – ◦ 2011 – 2013: 64 deals ◦ 2014 – 2016: 207 deals
  • Data on Q3/2016 Asia PE Movements

    24 Oct 2016

    The third quarter of the year recorded robust investment activities, with five deals, each at US$3.6 billion and above; a barometer of investors’ confidence to commit to such sizeable deals. Yet in the technology sector, investors continued to adopt caution, as there has been no increase of transaction volume. The worrying development is the 32% decline of distribution, at US$5 billion. It is the smallest quarterly sum since the last three months in 2012.
  • APER - An IPO of Two Enterprises

    05 Oct 2016

    Key Points: o IPO of Postal Savings Bank of China (‘PSBC’) is the largest since Alibaba was listed in 2014; o The two IPOs are sharply different: a. US$7.4 bn raised by PSBC is a third of the US$25 bn raised by Alibaba; b. 77% of the amount raised by PSBC has been subscribed by cornerstone investors, whereas such commitments were not necessary in Alibaba’s IPO; c. PSBC has to settle for the lower IPO price while that for Alibaba was top of the range; o Institutional investors that subscribed to PSBC’s shares last year recorded a 5% gain on their books, but will not sell for 36 months from 17th Dec 2015 (An article from October 2016 Issue of Asia Private Equity Review)
  • Southeast Asia: Data on Private Equity Investment for 1H/2016

    03 Oct 2016

    Transaction total • US$2.9 bn • a 61% increase Average deal size • US$46.9 m • a 56.4% increase Singapore is the most favoured market in Southeast Asia recording US$1.3 bn The Philippines & Vietnam capture the frontier market limelight, recording US$326.9 m and US$179.7 m, respectively