East Asia

China funds are trading at a 50% discount to NAV even after a decline in private markets valuations, managing director Kent Chen tells PEI.

Tokyo Stock Exchange reforms are presenting buying opportunities for GPs including KKR, a conference has heard.

Speaking at the HKVCA’s Asia Private Equity Forum on Friday, Eric Mason, head of PE at the Church Pension Fund, told delegates that using NAV facilities to create distributions increased financial risk.

Buyers need to understand the fundamentals of Chinese secondaries before evaluating discounts, according to Coller Capital’s Zhan Yang.

Covenants and leverage are much tighter in loans to sponsors across the region, according to head of APAC private credit Celia Yan.

PEI caught up with StepStone CEO Scott Hart and partners Vincent Hsu and Adam Johnston to discuss the firm’s decision to open a Singapore office this week.

VMS Group is aiming to raise at least $100m by final close to pursue global AI opportunities.

GP stakes, healthcare and Middle Eastern investors will be front of mind for Asia-Pacific markets in 2024.

Though GP stakes transactions have been few and far between in the region, a growing number of participants are setting up shop in APAC.

The parallel fund will invest alongside Hahn & Co IV, which is expected to close near its $3.25bn target in Q1 2024, PEI understands.