CLSA likes Asian property and it likes the Asian consumption theme. It is less avid for technology, concepts, start-ups and infrastructure.
Coull remains tough on valuation and sensible exit strategies, noting that any private-equity firm that is not mindful of these will find itself in the bottom quartile of performers. He says, given the increase in market volatility this year, private-equity firms can not just rely on making profits by virtue of high beta in rising markets across the board.
Veteran funds, those established in 2000 and 2001,...
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