Asia’s private equity firms, making the top 300 global list, up by 100% in 5 years

Last week, Thailand’s Prime Minister, Thaksin Shinawatra, said wealthy Thais should help contribute to a Venture Capital Fund, to help build entrepreneurs in Thailand. That comes on top of Thailand’s current Prime Minister, Yingluck Shinawatra, creating a “Seed Money Fund” to help student start up business. Both Thaksin and Yingluck are trying to jump start Thailand’s PE and VC business. While Thailand is not in the top PE and VC list in Asia, Hong Kong and Singapore are struggling to be the home of Asia’s PE and VC firms. This week, PEI published the 2013 PEI 300, proprietary list of the biggest private equity firms in the world. Compiled by PEI Research & Analytics team, it ranks managers according to how much capital they’ve raised for direct private equity investment in the last five years. Once again, TPG tops the list, despite its five-year fundraising total being almost one-third down on this time last year. For Asia, in 2009, there were 24 Asia-based firms in the PEI 300 list, accounting for about 4 percent of the total capital amassed by the 300 in the preceding five years. This year, there were 53 Asia-based firms, accounting for about 10 percent of the total capital raised by the collective group. PEI says, “That’s a big jump, and demonstrates very clearly that firms in the region have been attracting a greater share of investor capital in the last few years.” PEI says one notable example is Hong Kong-based RRJ Capital, the biggest climber on this year’s list (up 113 places to no. 48). It didn’t even exist in 2009; but since its foundation in 2011, it has already amassed $5.8 billion. LPs clearly believe that the excellent credentials of its team – led by Richard Ong, the former head of Asia investment banking at Goldman Sachs, and his brother Charles Ong, previously the chief investment officer of Singaporean sovereign wealth fund Temasek Holdings – makes the firm an attractive way to tap into the China growth story (Source).

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