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Laxman Pai, Opalesque Asia: The secondaries market within Asia-Pacific is evolving and investor interest is manifest in the growing fund flows throughout the first half of 2021, said a study.
According to Preqin Secondary Market Update H1 2021, in the first six months of the year, $543mn was raised across markets including China, Japan, and South Korea. This is 62% more than the aggregate capital raised during the whole of 2020 ($334mn).
China attracts the largest fund flows and this dominance appears to be increasing throughout 2021.
In January 2021, China-based CGP Investment and SIIC co-established a JPY 5.1bn secondaries fund, focusing on healthcare, information technology, and consumers upgrades. In February 2021, TR Capital, a Hong Kong-based secondary fund of funds manager, announced a successful close of its fourth fund in the series, which was oversubscribed at its hard cap of $350mn.
In another sign of investor demand, during August 2020, Gopher S Fund V, managed by China-based Gopher Asset Management, reached a second close at JPY 2bn - this fund took just two months to hit the final close.
The fundraising successes within Asia-Pacific have attracted several new managers. These include South Korea-based Meta Investment, China-based Shenzhen Capital Group, and Singapore-based Foundation Private Equity. Rising investor interest has caught the attention of managers seeking to capture the upside.
Although Asia-Pacific accounts for a relative...................... To view our full article Click here
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