...From Singapore to India, rivalry is mounting for coveted assets.
It's little wonder. The likes of Alibaba Group Holding Ltd., SoftBank Group Corp. and Tencent Holdings Ltd. have deep pockets and plenty of patience. They invest in firms such as Paytm Mobile Solutions Pvt., Lazada Group SA and Ola to increase usage of their own apps, or sometimes just to kill the competition. Profitability, a key concern of private equity firms, goes out the window when the objective is eyeballs.
Someone should let the world's pension funds and family offices, the main investors in private equity, know. Fundraising for Asian targets continues apace, even as dry powder, or unspent capital, reaches record highs.
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