Asia's Private Capital Landscape Shifts

A networking panel in our Singapore office examined the current dynamics of Asia's private capital markets, against the background of SuperReturn Asia 2025.

Paul Robine, founder and CEO of TR Capital, and Ben Harris, Principal at OCP Asia, were joined by HSF Kramer partners Benjamin Lohr and Salonika Rathod, with the panel moderated by the firm's Asia Head of M&A, Malika Chandrasegaran.

In the context of persistent limited liquidity and significant changes to the architecture of global trade, the panel discussed three aspects of Asia's private capital market: fundraising, private credit and secondaries.

Market headlines

1. Geopolitical shifts: Panellists agreed that although tariffs have not had a significant impact on portfolio companies yet, there is a notable shift in investor sentiment towards Asia and Europe.