Asia’s Private Equity News Source avcj.com November 17 2015 Volume 28 Number 43 EDITOR’S VIEWPOINT Taiwan PE exits could hit a record high in 2015, but uncertainties remain Page 3 NEWS Accel, CDH, CITIC Capital, Formation 8, Golden Gate, IFC, Lyfe, Providence, Sankaty, Source Code, Temasek Page 4 ANALYSIS Draft rules for PE-backed take-privates are met with cautious optimism Page 13 INDUSTRY Q&A CDIB Capital’s Paul Yang Secret ingredients discusses differentiated cross-border strategies Can private equity help Taiwan consumer brands find success in China? Page 7 Page 15 FOCUS FOCUS A political football The next big things Cross-strait M&A still presents a challenge Page 10 Taiwan tries to forge a start-up ecosystem Page 12 PRE-CONFERENCE ISSUE AVCJ PRIVATE EQUITY AND VENTURE CAPITAL FORUM TAIWAN 2015 Anything is possible if you work with the right partner Unlocking liquidity for private equity investors www.collercapital.com London, New York, Hong Kong EDITOR’S VIEWPOINT
[email protected] Managing Editor Tim Burroughs (852) 3411 4909 Associate Editor Exit issues Winnie Liu (852) 3411 4907 Staff Writer Holden Mann (852) 3411 4964 Creative Director Dicky Tang Designers THREE TIMES IN THE PAST FIVE YEARS, have been strained). This doesn’t appear in the Catherine Chau, Edith Leung, the sale of Taiwan-based cable television Taiwan data, but should the PE firm sell Eastern Mansfield Hor, Tony Chow provider China Network Systems (CNS) has been Broadcasting – an asset it bought for $1.3 billion Senior Research Manager announced. On two of those occasions it failed in 2006 – before the end of 2015, that would Helen Lee to go through – first the regulator nixed an significantly boost the annual total.