Will PE firms sitting on record $388b dry powder in Asia reap reward for patience?

Private equity firms, sitting on a record $388 billion of dry powder in Asia, may be about to get their reward for patience. Cash is king as corporate finances are stretched by the coronavirus outbreak. Having sat on their hands for much of the past year in protest at unappealing valuations, the virus-induced stock market meltdown is creating a potential parade of bargains. Blackstone Group Inc.’s reported plans to acquire Hong Kong-listed property company Soho China Ltd. may be just the start.