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LingYanTeoManager-AsianFundManagers19June2017,Asia-PacificFundFinanceSymposium,HongKong
PrivateCapitalinAsia-Pacific
InsightintothisDiverseMarket
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Overview• Asia-PacificFundraising–strongstartto2017• Highestaveragefundsizethisyear• StrongdealacMvitylastyear
• AsianLPsdominateinfrastructure
• PosiMveAsia-PacificOutlook
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AboutPreqinPrivateEquity&VentureCapital HedgeFunds RealEstate PrivateDebtInfrastructure Natural
Resources
SanFrancisco NewYorkLondon
HongKong
ManilaSingapore
Clientsincludeover44,000industryprofessionalsfrom16,000firms
MulMaward-winningservice
Dataavailableviaonlinedatabases,publicaMonsandresearchreports
www.preqin.com
Asia-PacificPrivateCapitalFundraising
193 190 189 187
157
101
36 39.7 44.836.1 36.2 36.1
0
50
100
150
200
H12012 H12013 H12014 H12015 H12016 H12017(todate)
H12012-H12017Asia-Pacific-FocusedPrivateCapitalFundraising
No.ofFunds AggregateCapitalRaised($bn)
Source:PreqinPrivateEquityOnline
49%61%
55% 59% 59% 59%
26%
23%26% 24% 28% 27%
18%12% 15% 13%
10% 11%7% 4% 3% 4% 3% 3%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2012 2013 2014 2015 2016 2017
%ofT
otalCapita
l
PrivateCapitalFundraisingbyGeographicFocus,2012-2017YTD
US Europe Asia-Pacific ROW
N.B.Figuresbasedonfundprimarygeographicfocusi.e.won’tcapture$investedinAsiabyvehicleswithprimaryinvestmentfocusoutsideofAsia-Pacific
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AverageFundSizeatAll-TimeHigh
Source:PreqinPrivateEquityOnline
050
100150200250300350400450
2012 2013 2014 2015 2016 2017YTD
AverageFund
Size
($mn)
YearofFinalClose
AverageFundSizeofAsia-Pacific-FocusedPrivateCapitalFunds
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ImportanceofPrivateEquityinAsia
0%10%20%30%40%50%60%70%80%90%100%
2012 2013 2014 2015 2016 2017YTD
AggregateCapitalRaised($bn
)
YearofFinalClose
Asia-Pacific-FocusedAggregateCapitalRaisedbyAssetClass,2012-2017YTD(AsatMay2017)
NaturalResources
Infrastructure
RealEstate
PrivateDebt
PrivateEquity
Source:PreqinPrivateEquityOnline
www.preqin.com
2016:RecordYearforInfrastructure
Source:PreqinInfrastructureOnline
020406080100120140160180200
0
100
200
300
400
500
600
700
800
2012 2013 2014 2015 2016 2017YTD
AggregateDealValue($bn)No.ofD
eals
NumberandAggregateValueofInfrastructureDealsCompletedinAsia-Pacific,2012-2017YTD(AsatMay2017)
No.ofDeals AggregateDealValue($bn)
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RiseofVentureCapital
Source:PreqinVentureCapitalOnline
0
10
20
30
40
50
60
70
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
2012 2013 2014 2015 2016 2017YTD
AggregateDealValue($bn)No.ofD
eals
VentureCapitalDeals*inAsia-Pacific,2012-2017YTD(AsatMay2017)
No.ofDeals AggregateDealValue($bn)
*Figuresexcludeadd-ons,grants,mergers,secondarystockpurchasesandventuredebt
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HighestIRRbyAsia-FocusedFunds
15.7%
11.1%
13.0%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Med
ianNetIR
R
VintageYear
PrivateCapital-MedianNetIRRsbyVintageYearandGeographicFocus(AsatMay2017)
Asia
Europe
NorthAmerica
Source:PreqinPrivateEquityOnline
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WherearetheLPs?
Source:PreqinOnlineProducts
68%
67%
35%
49%
52%
16%
18%
13%
17%
16%
8%
10%
37%
21%
25%
7%
6%
15%
13%
7%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
NaturalResources
PrivateDebt
Infrastructure
RealEstate
PrivateEquity
BreakdownofAsia-Pacific-FocusedPrivateCapitalLPsbyLocaMon
NorthAmerica Europe Asia RestofWorld
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Outlook–3,100+PrivateCapitalFundsinMarket
51% 54%
20% 18%
18% 21%
11% 7%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
No.ofFundsRaising AggregateCapitalTargeted
Prop
orMo
nofTotal
PrivateCapitalFundsinMarketbyGeographicFocus
US Europe Asia-Pacific ROW
Source:PreqinPrivateEquityOnline
N.B.Figuresbasedonfundprimarygeographicfocusi.e.won’tcapture$investedinAsiabyvehicleswithprimaryinvestmentfocusoutsideofAsia-Pacific.
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Outlook-LPs
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Outlook-GPs
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KeyTakeaways• Asia-PacificFundraising–strongstartto2017• Averagefundsizeisgrowing• Importanceofprivateequity• Riseofventurecapitalandinfrastructure• PosiMveoutlook:
Ø 21%ofcapitalbeingraisedbyfundsontheroadfocusedonAsia-Pacific(2ndonlytoUS)Ø 95%ofLPslookingtomaintainorincreasetheirPEallocaMontoAsiaØ 86%ofGPslookingtoinvestthesameormorecapitalinAsiain2017thanin2016.
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DataSources
• Freereportsavailablefromwww.preqin.com/research
• Preqin’sonlineservices:www.preqin.com/services
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FollowusonTwiker:www.preqin.com/Twiker
FindusonLinkedIn:www.preqin.com/LinkedIn
LingYanTeo–[email protected]