Private equity may have attracted disdain and notoriety for asset stripping in parts of Europe, but in Asia it has gone from being a ‘slightly dodgy’ industry to one which is gaining legitimacy.
“A lot of what was driving Europe and North America was too much leverage and so those growth rates were clearly unsustainable. And so now, most investors in Europe and North America realise that for the next two decades the economic growth rate, industry growth rates, company growth rates in Asia, are going to be two, three, four times greater than that of their home markets. And so there will be, and there is already starting, a massive shift in the geographic allocation of assets from the industrialised markets into Asia.”
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