The mega deal drought that lasted more than half-a-year was finally broken by the third quarter of 2002. The last private equity transaction that exceeded $100 million took place back in March when US-based Farallon Capital invested $520 million into Indonesia's Bank of Central Asia. By the two months ending mid-September, however, three transactions were, or were in the process of being, completed. Their combined transaction total would command an amount in the vicinity of $620 million (figure 1). All three transactions were undertaken by the Asian arms of global private equity houses. At a time when the Asian private equity industry is facing its most extensive consolidation to-date, the active participation of these non-indigenous Asian firms is not only a pledge of faith in the regional market, but also an affirmation of their central position in driving forward private equity outside of Japan.
January 06 2003
