Private equity consolidation trends and the impact of the US tariff hike moves on the region’s investment landscape topped the list of most-loved stories in April.
The month also saw our team bring you an important story on a potential strategic partnership brewing between TikTok and Traveloka as the ByteDance-owned short video platform pushes ahead with its superapp strategy. From Vietnam, we covered Creador’s investment in Long Chau Pharmacy and an investor exit from GIC-backed clinic chain Nhi Dong 315.
From India, we brought you an exclusive on TPG-backed platform Asia Healthcare’s potential investment in a fertility chain and Investcorp’s $5-billion strategy slowing down in the country.
From Greater China, we looked at the impact of the tariffs on investors following the ‘China plus one’ strategy and featured an interview with the top executive at CDH Investments.
In case you missed reading these stories, here is a recap of the most-read articles in April:-
Southeast Asia
Indonesian conglomerates said to be backing new PE fund
Indonesia presents an attractive investment opportunity for both local and global PE players thanks to its demographic benefits and steady economic growth.
Private equity merger signals watershed moment in SE Asia
SE Asia’s oldest PE firms may be edging towards consolidation, as a tough fundraising environment pushes local GPs to consider mergers with global platforms.
Private equity money rewrites the playbook at Asian schools
As fund managers push for revenue growth to unlock outsized returns down the line, schools are often forced to make strategic shifts.
Trump’s tariffs pour fuel on an already smoldering SE Asia exit landscape
A harder environment for exports means investors should enhance their focus on sectors with strong domestic demand, such as healthcare, education and tech services.
Creador picks 13% stake in Vietnam’s Long Chau Pharmacy at $1.5b valuation
This is also Creador’s second investment in the Southeast Asian pharmacy retail landscape, following BIG Pharmacy in Malaysia.
Asia’s smaller PE firms turn to stake sale as money dries up
The prolonged fundraising drought in private markets is pushing small local firms in APAC to offload their stakes to external investors to stay afloat and remain competitive.
Thien Viet Securities exits GIC-backed clinic chain Nhi Dong 315
Singapore’s GIC had reportedly invested an additional $135 million into the Vietnamese healthcare chain, bringing its total funding in the business to nearly $200 million.
TikTok and Traveloka: Strategic partnership—or acquisition—in the making?
With TikTok Shop gaining ground against e-commerce incumbents in Indonesia, adding travel and lifestyle services could further embed the platform into users’ daily lives.
Greater China
SE Asia to see more direct investments from China than fund flow: CDH
Proven business models in China can also be replicated in Southeast Asia, according to Thomas Lanyi, managing partner at CDH.
How will US tariffs impact ‘China plus one’ plans and investors in world’s No 2 economy?
Investors who have thrived from the “China plus one” strategy are caught off guard by America’s proposed high tariff hikes on emerging Asian countries, particularly Vietnam.
India
Investcorp’s $5b India strategy slows down as market reality hits home
Since its India entry seven years back, the firm has deployed about $1 billion in companies such as Global Dental Services, Safari, XpressBees, and FreshToHome.
Asia Healthcare in talks to invest in Indian fertility chain
Asia Healthcare platform, set up by TPG Growth, raised $170 million from GIC in 2022, followed by another $150 million last year.
India hosted most IPOs in Q1, but market may have neared a peak: EY report
India hosted the most initial public offerings globally in the first quarter of 2025, continuing the momentum witnessed last year, when the country had emerged as a global IPO hotspot. Yet, a 23% year-on-year (YoY) fall in IPO volume and a modest 12% growth in proceeds in the country in Q1 suggest India has “approached an IPO peak”.
