Private equity investments in Asia-Pacific slip in Q2

Private equity and venture capital investments in the Asia-Pacific region, excluding Japan, totaled $6.01 billion in the second quarter, down 34.5% from $9.18 billion a year ago, according to S&P Global Market Intelligence data.

The number of deals also slipped to 46 from 60 a year prior.

Aggregate transaction value in the first half of 2023 slid 40.3% year over year to $14.37 billion from $24.06 billion. Deal volume went down to 93 from 121 transactions.

Private equity transactions accounted for 6% of all second-quarter M&A deals in the region, which had a combined value of $98.11 billion. M&A deals totaled $180.48 billion in the second quarter of 2022, 5% of which had private equity involvement.

Largest deals

In the largest private equity-backed deal in the region in the first half of 2023, Bain Capital LP's Bain Capital Investors LLC offered to buy the remaining 57.83% stake in China-based hyperscale datacenter solutions company Chindata Group Holdings Ltd. in a take-private transaction valued at $2.26 billion, according to Market Intelligence data.

Kirkland & Ellis LLP and Morgan Stanley were Bain's advisers for the proposed deal. Citigroup Global Markets Asia Ltd. and Gibson Dunn & Crutcher LLP were advisers to the special committee formed by Chindata.

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The second largest deal was MBK Partners and Unison Capital Korea Inc.'s $1.82 billion acquisition of a 65.1% stake in South Korea-based dental implants company Osstem Implant Co. Ltd.

NH Investment & Securities Co. Ltd. was the financial adviser of the buyers, according to Market Intelligence data.