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Asian PE funds continue to grow
Private Equity, Asset Management
Private equity fundraising has supposedly stalled across the globe, but apparently, Asia didn’t get the memo.
Hot on the heels of RRJ Capital’s record-breaking $4.5 billion fund raise, Preqin reports that Asia-focused private equity funds are continuing to grow despite all the turmoil in the region.
26 Asia funds apparently raised $15 billion in the third quarter, more than double what they raised in Q2, and two of those funds actually cracked Preqin’s top 10 list:
This underscores just how investors love Asia at the moment. Despite their apparent exit from the region, North American investors were among the largest contributors to RRJ’s third fund, while GLP’s CLF Fund II – currently the world’s largest China-focused infrastructure fund – seems to have attracted its fair share of foreign investors as well.
A lot of these funds are dry powder though. With the contagion from China’s downturn still a huge matter of concern, capital deployment within the region has certainly not been what it used to be.
As equity prices creep lower however, these guys should have more than a few options to work on pretty soon.
Photo: Pictures of Money