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Southeast Asia Quarterly Private Equity Update: Q2 2024
In Q2 2024, Southeast Asia (SEA) saw a total of 28 deals, deploying over US$5.6b and nine PE-backed exits.
The infrastructure sector accounted for more than 78% of PE investments by value in SEA, primarily driven by Global Infrastructure Partners’ announced conditional acquisition of Malaysia Airports Holding for US$3.1b. Real estate and technology sectors constituted 12% and 4% of PE deal value, respectively.
Singapore and Malaysia contributed to the majority of deals, representing some 92% of the total PE deal value and about 57% in PE deal volume in Q2 2024.
As well, the quarter saw an uptick in the exit activity, with nine PE-backed exits, up by 300% in terms of exit value, compared with Q1 2024.
PE secondaries are expected to become a popular exit route in SEA, as investors increasingly explore liquidity options, including general partner (GP)-led secondaries, platforms and continuation funds.
As well, PE deals accounted for 16% of overall M&A deal volume in SEA in Q2 2024, compared with 9% in Q1 2024.
Read past issues of our Quarterly Private Equity Update here.