Private Equity Fund Managers Targeting Buyout Opportunities in the Far East

by Wan Ping Chia

  • 08 Aug 2012
  • PE

At present, there are 144 private equity fund managers globally who include buyout investments, either via buyout funds or as part of a broader investment strategy, targeting the Far East region. Countries included in the region and targeted by these managers include Brunei, Cambodia, Fiji, Indonesia, Japan, Laos, Malaysia, Mongolia, Myanmar, North Korea, South Korea, Philippines, Singapore, Thailand, Timor-Leste, and Vietnam.

Fund managers targeting buyout investments in the Far East come from a mix of regions around the world, including Asia, Eastern and Western Europe, the Nordic region, the Middle East and the US. Unsurprisingly, a large number of the fund managers are based in Asia, which is home to 71% of the total number of GPs targeting investment opportunities in the Far East.

On the other hand, while US-based managers only make up 15% of the total number of GPs targeting buyout investments in the Far East, they represent a larger proportion of the capital raised in the region. Kohlberg Kravis Roberts (KKR) is one of the most prominent GPs based in US and is currently raising KKR Asia Fund II, a successor fund of KKR Asia Fund. KKR Asia Fund is a $4bn buyout vehicle that was closed in 2007 and included Japan within its investment focus.

UK-based managers constitute 4% of the total number of GPs targeting buyout investments in the Far East over the last 10 years. One example is CVC Capital Partners, a UK-headquartered GP that specializes in buyout funds and successfully closed CVC Capital Partners Asia Pacific III with over $4.1 bn in capital commitments in 2008. The vehicle includes countries such as Japan, South Korea, and Singapore within its geographic focus.

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