PRIVATE EQUITY | Cesar Tordesillas, Hong Kong

Private equity attracted to HK

Hong Kong is attracting venture capital investment, said John Tsang, Financial Secretary of Hong Kong.


"Private equity is an important component of Hong Kong's asset-management business. Our  region has become a magnet for venture capital investment,"he said during the second Asia Private Equity Forum .

"We are also attracting more financial talent from around the world. General partners, fund-of-funds managers, fund administrators, consultants, and other service providers all give quality support to the private equity industry," Tsang said.

Total capital under management in private equity in Asia has been rising steadily in recent years. It reached some 360 billion U.S. dollars in 2011, a 22 percent increase over a yearearlier.

Last year, Hong Kong ranked second for capital under management in the region, accounting for 19 percent of the total. Taken together, Hong Kong and the Chinese mainland manage over half of the total private equity in Asia.

Hong Kong is home to around 375 private equity firms, with over 250 of these companies having their regional headquarters in the city.

"Hong Kong is an ideal launching pad for private equity funds seeking opportunities in the Chinese mainland, with an open and internationalized market, the rule of law supported by an independent judiciary, and a low and simple tax regime," Tsang said.

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