It's no secret that raising Asia-Pacific private equity funds has become extremely difficult, with regulatory uncertainty, geopolitical tensions and shifting risk appetites contributing to one of the region's toughest-ever fundraising environments.

According to Private Equity International data, funds in the region raised $49.2 billion last year, down substantially from $77.6 billion in 2022 and less than half the $122.9 billion raised in 2021. Only 187 funds held a final close in 2023 – roughly half the 365 closed in 2022 and less than a third of the 637 closed in 2021.

With LPs more selective than ever in the region, the onus is on GPs to stand out from the crowd. In this episode, PEI Group Hong Kong bureau chief Alex Lynn sits down with three of the region's most senior fundraisers – Monument Group partner Niklas Amundsson, Atlantic-Pacific Capital partner Vincent Ng and Asante Capital's head of Asia Ricardo Felix – to discuss how shifting LP appetites are reshaping these markets.

To read more about what to expect from APAC private equity in 2024, read our story in Private Equity International here.