Private Equity in Asia Faces Uncertainty as Deals Plummet and Profits Fall.

Private equity deals in the Asia-Pacific region fell by 44% to $198 billion in 2022, compared to $354 billion in 2021, due to macroeconomic uncertainties, rising costs, and poor company performance. Nearly 70% of surveyed fund managers expect the negative trend to continue into 2024. The traditional strongholds for internet and tech deals, Greater China, India, and Southeast Asia, all experienced sharp declines. However, there was a rise in the number of deals related to environmental, social, and corporate governance (ESG). General partners surveyed by Bain say they will continue to focus on ESG-related investment in the following years.