In 1991, the private markets landscape looked remarkably different than it does today. “Private equity” really just meant “buyout” and there were only a smattering of funds to choose from. Today, this asset class paints a different picture.
The proliferation of funds and strategies available to LPs today is one of the biggest and more notable changes in the asset class over the last several years. One specific area that has been attracting an increasing amount of LP attention recently is the private markets landscape in Asia.
Just like its cultures, cuisines and languages, Asia’s private markets landscape is very large and diverse, with enormous regional variations. There are five key regions: China, India, North Asia (Japan and Korea), South East Asia (“SEA”) and Australia.
The Asian market as a whole has experienced drastic growth in terms of private market maturity as well as LP appetite. We expect this trend may continue, albeit gradually. Fundraising activity in Asia, however, tells a less nuanced story, increasing by more than three times, from $30 billion in 2009 to $110 billion in 2017. China represents the majority of fundraising activities in Asia, while SEA, India and Japan also saw meaningful increases.
To continue on our tour of the private markets in Asia, check out Hamilton Lane’s white paper, “Private Markets in Asia: A Country-by-Country Guide”.
To learn more about how Cobalt LP can help with your private markets portfolio in today’s private markets landscape, click here.
