Maple-Brown Abbott’s Geoff Bazzan has been investing in the Asia-Pacific region for over 20 years and the current rush into China venture capital investments puzzles him.
The Sydney-based investment management firm’s head of Asia-Pacific equities can’t figure out why so many investors are willing to pay high valuations for many illiquid assets.
“There might be the odd tenbagger that one will find,” he said during a telephone call with FinanceAsia, but exiting an investment at 10 times the initial cost is tougher when “valuations are far more extended, or premiums are much higher, in the unlisted space.”
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