East Asia

The government’s apparent endorsement of subscription credit lines could enable Japanese private equity funds to compare more favourably with their overseas peers.

'Stars are aligned' for Asia Private Assets Fund as investors prioritise diversification, managing director and co-head of Asia investments Collwyn Tan tells PEI.

The effort would be Advent’s second fund in Asia, having raised – and subsequently wound down – a $725m Japan fund in 2008.

The wealth manager is currently seeing an average low-single-digit allocation towards private markets among clients, Martin Leung, head of alternative investments Hong Kong, tells PEI.

Jamie Hill and Michelle Cheh are both 10-year veterans of the firm.

Khazanah joins a number of APAC sellers this year, with Malaysia's EPF and China Investment Corp also looking to offload portfolios.

China buyouts cannot rely on the same cost-cutting measures or buy-and-build strategies as those in the US, according to CDH managing partner Max Hui.

Geopolitical tensions and regulatory uncertainty have contributed to China’s shrinking role in APAC’s private equity markets.