Asean targets private market gap with new council

KUALA LUMPUR: Asean’s private markets are running at just a third of the global average, a gap regional leaders plan to close with the launch of the Asean Private Markets Council (APMC).

A study by Asean-BAC Malaysia and McKinsey & Company found that private equity and venture capital in the bloc account for only 0.5 per cent of GDP, compared with the global average of 1.5 per cent – highlighting the region’s limited capacity to fund high-growth, innovative companies.

Asean-BAC chairman Tan Sri Nazir Razak, who spearheaded the council’s creation, said as much as US$60 billion in capital remains sidelined from Asean’s private markets.

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