Michelle Phillips
In China, some see evidence of a gradual shift toward control investments due to a generational change and slowing GDP growth, delegates heard at the HKVCA Forum in Hong Kong.
Advantage Partners will sell a coffee shop franchise to MBK Partners for about $480 million, highlighting a growing trend of GP-to-GP secondaries in Japan.
China’s deals, exits and fundraising have been disappointing, but panelists at the HKVCA Asia Private Equity Forum agreed that the downs are necessary for the industry to evolve.
The New Funds Law passed by China does not encompass private equity, though some believe that may change.
Deal volume and value dropped year-on-year across the region in 2012, according to data from Mergermarket, with one exception: Korea.
A PRC Supreme Court ruling in favour of profit guarantees is reassuring for PE investors in China, according to a Ropes & Gray report.
With the IPO window virtually shut across Asia, private equity investors are considering secondaries or trade sales, according to an Ernst & Young survey.
Actis has taken a minority stake in Nanjing Micro-Tech, a Chinese medical equipment provider.
Carlyle has fully exited Hong Kong-listed China Pacific Insurance for a return estimated to be close to 6x, according to reports.
KKR has made a follow-on investment in a water treatment provider in China.