By most measures, China has emerged as the destination of choice for investors in emerging markets private equity. However, the rapidly evolving regulatory landscape and mushrooming of new funds have left ample opportunity for confusion and misunderstanding. This article clarifies the different types of private equity activity taking place in… Read More
Jie Gong and Neil Harper, Portfolio Managers at Morgan Stanley Alternative Investment Partners Private Equity Fund of Funds group, lead investment activities for Asia and EMEA (Europe, Middle East and Africa), respectively. They discuss their views on the current state of the private equity industry from a global perspective… Read More
We are pleased to present the fifth issue of the Bulletin, marking a milestone for both this publication and the EMPEA Legal and Regulatory Council as we enter our second year. As investors and regulators grapple with how to balance a new appreciation for risk with the requirement to… Read More
In the current economic environment, competition for capital is fierce and GPs must increasingly look for new funding sources to complement their traditional investor base. This report takes another step toward providing a greater understanding of the pools of capital outside of North America and Western Europe that may potentially… Read More
In this issue Articles Value Creation by Venture Capital Investors: The Experience of IDG Ventures India Inside Perspectives: An Interview with Cartica Capital’s Teresa Barger Viewpoint from EMPEA president and Ceo sarah alexander Amidst a background of growing macroeconomic and policy uncertainty in developed markets, investors are paying greater… Read More
EMPEA has embarked upon a series of initiatives focused on rejecting the premise that there is a tradeoff between financial performance and impact as broadly defined. These initiatives include conferences, such as our inaugural Capital Impact 2011, a series of Impact Case Studies and forthcoming research examining the best… Read More
In this issue Chinese Government Urged to Regulate Popular Foreign Investment Structure Steve Xiang, Antony Wang and Wenfeng Li, Weil, Gotshal & Manges LLP EMPEA Submission to Securities and Exchange Board of India (SEBI) Regarding Proposed AIF Regulations Mara Topping, White & Case LLP The… Read More
On 30 August 2011, EMPEA submitted comments on draft regulations (the “Regulations”) promulgated by the Securities and Exchange Board of India (SEBI). These regulations proposed a framework for the Indian government to regulate private pools of capital (referred to as “Alternative Investment Funds” or “AIFs.”)… Read More
An internal draft memorandum reportedly prepared by the Chinese Securities Regulatory Commission (“CSRC”) for submission to the China’s State Council (the “CSRC Memo”) has heightened concerns in the foreign investment community regarding the future viability of the widely-used variable interest entity (“VIE”) investment structure in China. The negative view… Read More
Kohlberg Kravis Roberts & Co. L.P. invested US$150 million for a 33% stake. Company Headquarters: China Business focus: Dairy cow farming and milk production Revenue: US$172 million (FY 2011) impact highlights Modern Dairy’s revenues grew from RMB184 million (US$27 million) in FY2008 to RMB1,113 million (US$172 million) in… Read More
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