Arjun Neil Alim

The resurgence of interest in the Hong Kong stock market – about US$35 billion of listings in 2025 – has helped some private capital groups including Sweden’s EQT, Warburg Pincus and Carlyle exit some smaller companies they took venture capital-style stakes in, rather than buyout investments.

World’s biggest private equity houses struggle to exit China deals

The challenge comes as higher interest rates depress valuations and firms face a more mature, competitive industry