Published by Asia Asset Management – 11th Sep 2017
After weeks of shrill Cassandra warnings of the risks for institutions ploughing money into private equity (PE) funds at a period of peak valuations and peak dry powder, perhaps it’s now time to take a slightly more optimistic view of the case for dry powder. In other words, why PE firms may be doing the wise thing in sitting on their dough instead of deploying it.
UBS Group’s (UBSG.S) asset management unit said on Thursday it aims to launch its first Chinese private fund by the end of the year, as Europe’s fourth-biggest money manager seeks a slice of China’s fast-growing, 10 trillion yuan ($1.54 trillion) private fund market.
Singapore’s Fullerton Fund Management (Fullerton), controlled by Temasek Holding, the city state’s sovereign wealth fund, would become one of the largest asset managers in Southeast Asia if speculation of its merger with NTUC Income becomes a reality.
BNP Paribas Asset Management (BNP Paribas AM) has appointed Rakesh Vengayil as deputy chief executive officer (CEO) for Asia Pacific. He also takes over the role of CEO for Hong Kong from Tino Moorrees, who has decided to pursue other interests and opportunities outside of the company.