Asia Private Equity Fundraising
Asia Private Equity Fundraising Rebounds
Robert Morse, Citigroup's (C.N) former top investment banker in Asia, set out to raise money last year, with plans to launch a private equity/financial services firm.
Primus Financial Holdings raised $1 billion from a single wealthy Asian family by its April launch and $200 million later from a different investor, he told the Reuters Private Equity and Hedge Funds Summit this week.
Carlyle Group CYL.UL is raising a $3 billion Asia buyout fund, nearly double its previous one, while Affinity Equity Partners is out raising another Asia fund expected to top the $2.8 billion it raised before.
Private equity fund-raising flows are returning to Asia as finding and completing deals remains much harder than in the U.S. and Europe, because of local competition, foreign investment restrictions, and unpredictable governments. Source
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