Fund Management

Western GPs seeking access to China are pondering how the growth of locally denominated funds might work to their advantage.

Guido Gamucci is chairman of Permira's operation in Asia. Previously responsible for the firm's Milan office, he relocated to Japan in 2005 and is poised to move to Hong Kong when the UK buyout group opens its second office in the region next year. In October, Permira made headlines for doing not just one, but two large deals in Asia. First came an $838 million investment for a 20 percent stake in Galaxy Entertainment, a Macau-based casino operator; then followed a $2.2 billion secondary deal to acquire Arysta Lifescience, a Japanese agrochemical company, from Olympus Capital. For Permira, it was the first investment in Japan since its arrival two years ago.

In the past, private equity-backed Chinese companies often listed in London and New York. Now the smart money is on well-designed "onshoring" strategies instead, writes Robert Abbanat.

Terra Firma's Guy Hands has brought a fresh perspective to EMI.

Sir David Walker's report on transparency and disclosure has encouraged UK industry body the BVCA to name and shame non-compliers with his proposed code.

As Merrill Lynch, Citi and Morgan Stanley reeled from the sub-prime meltdown, alternative investment executives loomed as potential saviors.

Several big buyouts have collapsed as a result of the liquidity crunch. For private equity firms, getting out of a broken deal can be a long and painful process.

Warburg Pincus' new fund enjoys a term concession more common to hedge funds.

Russia's emerging private equity market is growing up. Leverage levels are rising as deals become more mainstream and international interest grows. But investing in Russia is still a challenge for non-locals. Nicholas Lockley reports.

The emerging markets of Asia have become compelling investment destinations on several counts: growing affluence, large populations and double-digit economic growth among them. Sharon Lim reports on their prospects.