Private equity fund managers expect limited partners to increase allocations to the Asia Pacific.
“Asia is reaching, in terms of size, skill, depth, and maturity, a stage where it probably will attract more capital as it has more experienced managers, more exit avenues, and mature private markets to take such capital,” said Sunil Mishra, a partner responsible for primary investments at Adams Street Partners, at DealStreetAsia’s Asia PE-VC Summit 2021.
Adams Street Partners has a global portfolio and invests up to 60% of what it does annually in the US. While the firm sees its Asian allocation increasing, the market has to sit alongside some of the other attractive returns seen in the rest of the world, he added.
Hemal Mirani, managing director at HarbourVest Partners, noted that the global coronavirus pandemic has broadened participation for many investors who may not have had budgets to travel to the region.
The downside, she said, is that new LP-GP relationships are harder to form online in the current situation.
HarbourVest Partners, a private markets asset manager based in the US, opened its office in Singapore in June, expanding the firm’s footprint to 11 locations worldwide. Based in Singapore, Mirani oversees the firm’s operations and strategy for the Asia Pacific, including Beijing, Hong Kong, Seoul, and Tokyo.
Catch the full video of the discussion here:-