Speed despite the bumps: PE & VC in Asia
BY ALB |
In much the same way that Asia stood as a beacon of strength amid the global financial crisis, even as Western economies took pounding after pounding, the private equity scene on the continent has remained relatively robust compared to the more traditional economic powerhouses. According to a report by research firm Preqin, as of August 2011, Asia-Pacific fundraising for the year to date stood at 29 percent compared to the pre-downturn year of 2008. In comparison, the figures for North America and Europe were 24 percent and just 16 percent. More tellingly, a greater amount of capital was being sought by Asia-Pacific focused funds than ever before, unlike North America and Europe, where the total amount of capital sought by funds was lower than in 2008.