Are any of the megafunds doing well in China?
I think lots of the megafunds have operations in Mainland China/HK, but are any of their funds doing well? From what I understand the Chinese government places a lot of restrictions on foreign investors and there's quite a bit of red tape, even for the RMB funds. Anyone know which of the U.S. megafunds are doing the best in China?
My understanding has been that there is too much capital chasing too few deals. My experience is entirely US based though so I dont knwo for sure.
The 'megafunds' in China are Hony Capital, CITIC, KKR, PAG (asia focused) etc they are not (with the exception of KKR) the usual Blackstone, caryle, tpg etc
They all have excellent track records and as far as I can tell are doing well. Whether they will be able to get decent exits given the state of capital markets currently is less clear. I suspect we will start to see lots of sponsor-to-sponsor exits over the next few years.
Just wanna add on for your global "megafund", Carlyle Asia growth actually doing okay, and TPG Asia's China portfolio are doing well too. Blackstone are not really strong in China
here's a good overview: http://www.8financestreet.com/users/8-finance-street/posts/32-asia-priv…
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