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APER0812YE

APER 2008 Year End Review

A year of extreme volatilities is now behind us all. During these difficult 12 months, Asian private equity continued to register staunch commitments from investors, although investment and divestment activities showed marked declines:-

Institutional Investors
  
  • 339 limited partners were known to have make 449 fund allocations in 2008, representing moderate increases of 7.2% and 5.9% respectively compared to those for 2007
  • Institutions from mainland China remain to be the most active players, the number of fund allocations made by them increased by 68.1% to 195
  • Institutional investors from USA known to have made only 45 allocations, representing a 43.8% decrease of that for 2007
  • Government-related agencies, which participated in almost a quarter of the fund allocation number, have emerged as the most active investor group

Institutional Investors’ Allocation Pace of Asian Private Equity Funds - by Number of Allocations (2008)

Funds
  
  • US$47.8 billion of fresh capital came into the market in 2008, representing an increase of 16.8% compared to 2007
  • Asian private equity aggregate fund pool surged to US$253.9 billion by the end of 2008
  • The number of funds contributing to the fresh fund pool in year 2008 was 178, a slight 11.0% decrease compared to the 200 record in 2007
  • The average fund size has increased by 31.2% to US$268.4 million, from US$204.5 million recorded for 2007

Asian Private Equity Fund Pool – Aggregate (2003 - 2008)

Investments
  
  • US$46.3 billion in deal value had been transacted, virtually the same compared to the US$46.9 billion for 2007
  • 789 transactions were known to have been completed in 2008, a 13.0% decline compared to 907 in 2007
  • The average deal size has increased to US$66.4 million in 2008, compared to the US$57.6 million

Investment Pace in 2008 (1H & 2H)

Divestments
  
  • 176 divestment processes initiated by investors, a 60.2% decrease compared to 442 for the same period in 2007
  • US$8.6 billion has been returned to investors for an aggregate invested capital of US$3.1 billion
  • Initial Public Offerings (‘IPOs’) and/or sales through the secondary market accounted for 64.2% of the divestment movements, while trade sales took up 31.3%
  • IPOs, however, only accounted for a mere 10.5% of the realised capital, while trade sales returned over US$7.6 billion to investors

Asia: Divestment Profile (2007 & 2008)

The only Year End Review that separately examines trends in

  • Asia (including Japan)
  • Asia (ex-Japan)
  • China
  • India
  • Japan
Contents

The Early Winter - An Overview of Asian Private Equity in 2008
Summary Points: Institutional Investors, Funds, Investments, Divestments (Asia including Japan)
Data Overview & Analysis (Asia including Japan)
Data Overview & Analysis (Asia excluding Japan)
Data Overview & Analysis (China)
Data Overview & Analysis (India)
Data Overview & Analysis (Japan)

Selected Charts

A total of 57 charts are available with the Year End 2008 Review. Some selected charts follow.


Figure
Title
Fig. 1 Asian Private Equity Fund Pool – Aggregate (2003 - 2008)
Fig. 2 Profile of Institutional Investors in Asian Private Equity Funds - by Locations (2008)
Fig. 3 Institutional Investors’ Allocation Pace of Asian Private Equity Funds - by Number of Allocations (2008)
Fig. 4 Annual Growth Percentage of Asian Private Equity Fund Pools (2003 - 2008)
Fig. 5 Profile of Asian Private Equity Fund Pool (2008)
Fig. 6 Billion Dollar Funds - by Quarterly Aggregate (2008)
Fig. 7 Investment Pace in 2008 (1H & 2H)
Fig. 8 Asia Ex-Japan: Investment Destinations (2008)
Fig. 9 Asia Ex-Japan: Stages of Investment (2008)
Fig. 10 Capital Realisation (2004 - 2008)
Fig. 11 Asia: Divestment Profile (2007 & 2008)
Fig. 12 Capital Realisation Profi le – by Markets & by Exit Routes (2008)
The Early Winter
charts also for ..
Asia Including Japan
Asia Excluding Japan
China & India and Japan

 

Now Available
The full 36-page issue of the APER Year End Review 2008, with full charts and analysis, is now available for HK$5,065 / US$649 / SG$1055 / GB430. Please contact us to order.

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