"Scale, Sophistication and Global Relevance" -- Asia's Private Equity Market

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 23 August 2018

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

"The scale of deals we're seeing [in Asia] is something we've never seen before," says Alison Mass of the Goldman Sachs Investment Banking Division. While Mass has been traveling to Asia for more than twenty years to meet with private equity clients, her most recent business trip with colleague Brian DeCenzo felt different in terms of the industry's maturation and international sophistication. In this episode, Mass and DeCenzo explain why global private equity firms are raising multi-billion dollar funds in Asia, the impact of increased Chinese buyers in global auctions, how Asian companies are embracing innovation and more. This podcast was recorded on July 31, 2018. The information contained in this recording was obtained from publicly available sources and has not been independently verified by Goldman Sachs. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the information contained in this recording and any liability as a result of this recording is expressly disclaimed. The recording should not be relied upon to evaluate any potential transaction. Goldman Sachs is not giving investment advice by means of this recording, and this recording does not establish a client relationship with Goldman Sachs. Copyright 2018 Goldman Sachs & Co. LLC. All rights reserved.

Transcript

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0:00.0	This is exchanges at Goldman Sachs where we discuss developments currently shaping markets, industries,
0:14.2	and the global economy. I'm Jake Stewart, Global Head of Corporate Communications here at the firm.
0:19.2	One of our recent episodes was all about Chinese markets, what to make of trade tensions and the continued opening up of the stock market there.
0:25.0	But one big area we didn't touch on was what the private equity landscape in China looks like today.
0:30.0	Joining us to talk about that and other topics, Allison Mass and Brian Descendo from our Investment Banking Division.
0:36.0	Allison runs the Financial and Strategic Investors Group within that division and Brian runs the Innovation Lab for the Investment Bank.
0:44.0	Allison, Brian, welcome to the program.
0:46.0	Thank you.
0:47.0	So, Allison, let's start with you.
0:48.0	You've been going to Asia for over 20 years
0:50.0	to meet with private equity clients.
0:52.0	Have you watched, particularly the Chinese private equity market mature
0:56.0	and what's been different that you've seen in your most recent trip there?
1:00.0	When Brian and I came back, we were traveling together over the course of about a week
1:05.1	earlier this year, there were three things that really hit me.
1:08.6	One, the scale of both the funds and the deals being done.
1:14.0	Second is the sophistication of the clients we met with and the discussions that we were having
1:20.0	were just on a completely different level.
1:22.0	And third, just their relevance to the global markets
1:24.8	when I came back and we looked at the number of deals
1:27.3	are being done, the fees paid.
1:29.5	It just really hit me.
	...

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