By Malvika Joshi
Availability of ample dry powder and the absence of a window for launching IPOs will lead more PEs to seek exit through secondary transactions in 2019.
Deal activity looks set to increase as the industry holds $56 billion in dry powder, pushing total AUM to $199 billion.
This also comes at a time when Warburg Pincus LLC is looking to raise its second China-focused private equity fund of up to $4 billion.
For AirAsia, the deal marks another move to monetise its assets as Asia’s biggest budget airline seeks to transform itself into an asset-light, digitally focused firm.
For the latest fund, the target markets will be North Asia, China, Southeast Asia, Australasia and the Indian subcontinent.
GIC has joined Coller Capital and Neuberger Berman in leading the GP-led restructuring process for Thomas H Lee Partners’ largest fund.
Last week, KKR cut its A$1.8 billion buyout proposal for the struggling Australian company. This came seven weeks after KKR upped its indicative bid to access MYOB’s financial records.
Promoters of Mindtree are reluctant to sell their stakes as they want to prevent Baring from taking control in the company.
GIP will be investing in buyout opportunities, besides assisting global infrastructure developers and operators willing to set up shop in India to de-risk their equity exposure.
The PE firm had earlier raised $150 million for its second fund that was closed in 2017.