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Asia-Pacific private equity shows green shoots of recovery

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India and Japan have become hotspots for PE investorsDeal value increased, exits recovered, fund-raising remained challenging, dry powder declined

SINGAPORE, March 24, 2025 /PRNewswire/ — Despite another year of uncertain macroeconomic conditions, Asia-Pacific’s private equity (PE) market is showing signs of recovery after two years of decline as deal value rose 11% to $176 billion in 2024, according to Bain & Company’s Asia-Pacific Private Equity Report 2025 launched today. While the recovery is supported by moderate investments across the region, deal count declined 9% when compared with 2023.

Overall, Asia-Pacific deals were larger. Average deal size in the region rose to $133 million, up 22% over 2023 and 12% higher than the previous five-year (2019-2023) average. The number of megadeals, or deals valued at $1 billion or more, increased by 50% compared to 2023, lifting average deal size.

Buyouts continued to be in favor as they accounted for over half of 2024’s total deal value. Notably, the share of buyout deals rose in traditionally growth deal markets, including India, Southeast Asia, and Greater China. Lower interest rates across most of the region also fueled more buyouts.

In 2024, carve-out deals totaled 19% of all buyouts over $100 million. Despite lower average returns, 44% of Asia-Pacific general partners (GPs) surveyed by Bain consider carve-outs a top investment opportunity, possibly due to immense opportunities in Japan and Korea when conglomerates rationalize operations and sell off business units.

“Investors are still wary of market uncertainty and so we continue to see them favoring buyouts as a way for greater control to manage risks and ensure a clear path to increase value. For those looking at carve-outs, it is essential to have an actionable value creation plan,” said Sebastien Lamy, co-head of Bain & Company’s Asia-Pacific PE practice.

“And while most markets in Asia-Pacific saw deal value rising in 2024, the actual dealmaking activity varied widely across the region. India and Japan are looking to be hotspots as their active investor pools have risen and major global PE funds are planning to deploy more capital in these markets.”

Greater China continued to lead with the highest deal value in the region, but deal value only rose modestly compared to 2023, and its share of the market continued to drop accounting for 27% of the region’s total deal value in 2024. India was Asia-Pacific’s top performer, with deal value and count rising. The market remains one of the fastest growing in the region based on GDP, and investors are drawn to its strong growth fundamentals. Australia–New Zealand’s deal value more than doubled, fueled by the $16 billion AirTrunk deal. Japan’s deal count was unchanged, but deal value was down sharply vs. the previous year, which included multiple megadeals. In South Korea and Southeast Asia, dealmaking revived, with gains in deal value.

Some of the largest global fund managers with over two decades of investment experience in Asia-Pacific PE are shifting their focus away from China. Last year, these GPs closed almost twice as many deals in Japan and India compared to the average from 2014 to 2018. Their investments in Greater China, by contrast, declined to less than one-third of the same period. Looking forward, major global PE funds plan to deploy more capital in India and Japan.

Similarly, limited partners (LPs) recognize the attractiveness of India and Japan and endorse the strategic shift to those markets. In Preqin’s 2024 global LP survey, Japan ranked No. 4 globally for the best PE investment opportunities in developed markets (after the US, Western Europe, and the UK)—and among emerging markets, India ranked No. 1 globally.

Looking at industries, while technology continued to lead with the highest share of deal value and count across the region, its share of deal value shrank to 25% in 2024, down from 50% in 2018, as GPs sought greater diversity in their portfolios in an uncertain environment. Investments in communications and financial services showed the highest growth rates in deal value over the previous year, powered by several large deals in data centers, and sizable deals in property loan and personal loan businesses in India.

The challenging private equity environment in Asia-Pacific is squeezing out bottom-ranked investors. In 2024, the number of active investors declined 10%—the second drop in two years. In contrast, the top 20 investors’ share of total deal value remained high at 41%. Japan and India are proving to be attractive markets for PE investors as the number of active investors in Japan rose 14% in 2024, bucking a regional trend of shrinking competition, while in India, active investors rose 29%, helping fuel an increase in deal count and deal value. Global investment firms are also setting up offices in these two markets.

Deal multiples—the ratio of enterprise value to EBIDTA—edged up to 12.8 from 10.3 a year earlier due to rising valuations of comparable companies listed on public markets across the region and public market recoveries or rallies.

Most markets saw some improvement in exit value and count in 2024, with India being the region’s largest exit market in terms of value and count, supported by a vibrant IPO market. Due to a sharp decline in China’s exit market – partly driven by Greater China’s weak stock market performance – total exit value and count for the region were roughly flat, ending two years of precipitous decline.

For the third consecutive year, investors raising new funds (excluding RMB funds) continued to face significant challenges. The value of Asia-Pacific-focused funds raised in 2024 slumped to a 10-year low of $74 billion, down more than 20% year on year, and 43% lower than the previous five-year average. Global fund-raising in 2024 was down 23%, excluding RMB funds, and Asia-Pacific’s share of global fund-raising was a low 7%, down from 13% in 2021.

Dry powder, or total unspent PE capital, declined for the Asia-Pacific region from its record level in 2023. A challenging fund-raising environment contributed to the dip.

“Green shoots are appearing in Asia-Pacific’s PE market and despite ongoing challenges and a still uncertain macro environment, fund managers are more optimistic about 2025,” said Prabhav Addepalli, a Bain & Company PE partner, based in New Delhi. “The region’s fund managers have mixed expectations on future returns, but our survey highlighted a noticeable optimism, with 87% of respondents stating they believe returns will not decrease in the coming three to five years, up from 61% in 2023.”

Media contact:
Ann Leeann.lee@bain.com

About Bain & Company

Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future.

Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today’s urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.

View original content to download multimedia:https://www.prnewswire.com/news-releases/asia-pacific-private-equity-shows-green-shoots-of-recovery-302409146.html

SOURCE Bain & Company

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IMDA and Tencent Debut “Beyond the Screen” to Champion Real-World Connection through Digital Play

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The launch is marked by the signing of an agreement between IMDA and Tencent to advance healthy digital habits and safe, responsible use of digital technologies among youths, parents, and families.

SINGAPORE, May 2, 2026 /PRNewswire/ — The Infocomm Media Development Authority (IMDA) and Tencent today jointly launched “Beyond the Screen: Healthy Digital Play”, a new digital wellbeing campaign that encourages healthy digital habits by bringing families into the conversation and strengthening real-world connection through healthy gameplay.

The campaign encourages families to bridge the gap between play and purpose through gaming. It showcases how digital play can foster deeper understanding, facilitate balanced routines, and build stronger connections at home.

“Digital spaces are already a natural part of how young people learn, play, and connect today,” said Mr Murphy Zhao, Country Manager of Tencent Singapore and Head of Tech Group, Tencent Games. “As a company with deep expertise across digital entertainment and communications, we want to play a constructive role by helping families build meaningful digital habits that extend beyond the screen.”

Advancing Family Digital Wellness In Partnership with IMDA

As part of the launch, IMDA and Tencent also signed an agreement to strengthen collaboration on initiatives in digital wellbeing. The agreement was signed by Ms Joanna Lam, Cluster Director for Digital Readiness, IMDA, and Mr Murphy Zhao, Country Manager of Tencent Singapore and Head of Tech Group, Tencent Games. The collaboration builds on Tencent’s ongoing cooperation with IMDA, in support of the national Digital for Life (DfL) movement, focusing on promoting online safety and healthy digital habits among youths, parents, and families.

Tencent will co-develop educational content with IMDA, as well as organise four community outreach activities, reaching out to an estimated 4,000 participants. The company will also commit S$ 25,000, which totals to S$ 50,000 with the government’s dollar-to-dollar matching, to the DfL Fund. The DfL Fund provides support for projects and activities promoting digital inclusion, digital literacy and digital wellness. 

“Ensuring digital wellness is increasingly important, particularly for our children who are digital natives,” said Ms Joanna Lam, Cluster Director for Digital Readiness, IMDA. “Tencent has been a DfL partner since 2022, and I thank them for their continued commitment to the DfL cause. We look forward to deepening our collaboration with Tencent to empower parents and youths with practical guidance to build healthy digital habits and navigate the digital world safely together.”

Leading the Conversation on Healthy Digital Play

The inaugural Singapore launch event was officiated by Ms Jasmin Lau, Minister of State, Ministry of Digital Development and Information, and also hosted social service organisations from Singapore, Malaysia, Thailand, Indonesia, and the Philippines. At the event, families participated in gamified quiz experiences and took home educational materials designed to transform gaming into healthier routines at home. 

The programme also featured a parenting talk that shared practical guidance on utilising games as a bridge for conversation at home. The session highlighted how, when guided by constructive routines, gaming can support the development of soft skills such as communication, teamwork, strategic thinking, and persistence.

During the event’s expert insights session, Mr Narasimman S/O Tivasiha Mani, psychotherapist and co-founder of local youth charity Impart, said, “Healthy gaming is not built through one-off rules. It grows through rapport, shared understanding, and everyday conversations. Through a collaborative process between educators, families, and the wider community, it becomes easier to set shared expectations and support balanced habits that carry beyond the screen.”

Building a Scalable Digital Wellbeing Framework for Southeast Asia

While digital habits may look different across the region, the underlying need is the same — helping families build healthier, more confident relationships with the digital world.

“Beyond the Screen” is part of Tencent’s broader commitment to fostering intentional digital play, equipping youths, parents, and educators with practical resources to build balanced routines, encourage respectful interactions, and strengthen open communication at home.

Insights from the Singapore launch will inform the rollout of the campaign across Southeast Asia in 2026, with local adaptations to meet the needs of diverse communities in the region.

About Digital for Life Movement

A Digital Future for All – In our increasingly digital world, everyone can play a part to help create a more inclusive digital future.

The Digital for Life (DfL) national movement, launched on 8 February 2021, aims to galvanise the community across the 3Ps (Private, Public and People) to help Singaporeans embrace digital as a lifelong pursuit and enrich lives through digital technology.

The DfL fund was also set up to support projects and activities promoting digital inclusion, digital literacy and digital wellness. Learn more about the DfL movement at digitalforlife.gov.sg.

About Infocomm Media Development Authority

The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation by developing a vibrant digital economy and an inclusive digital society. As Architects of Singapore’s Digital Future, we foster growth in Infocomm Technology and Media sectors in concert with progressive regulations, harnessing frontier technologies, and developing local talent and digital infrastructure ecosystems to establish Singapore as a digital metropolis.

For more news and information, visit www.imda.gov.sg or follow IMDA on LinkedIn (IMDAsg), Facebook (IMDAsg) and Instagram (@imdasg).

About Tencent 

Tencent is a world-leading internet and technology company that develops innovative products and services to improve the quality of life of people around the world. Our communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained. Our financial technology business covers payment, credit, wealth management and insurance sectors, as we support our partners’ business growth and assist their digital upgrade through FinTech and other enterprise services. We also publish some of the world’s most popular video games and other high-quality digital content, enriching interactive entertainment experiences for people around the globe. Tencent was founded in Shenzhen, China, in 1998, and has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/imda-and-tencent-debut-beyond-the-screen-to-champion-real-world-connection-through-digital-play-302760594.html

SOURCE IMDA; Tencent

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Does Your Building Have Fire Sprinklers?

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Fast Guard Service alerts real estate owners and property managers: 2026 fire code updates to NFPA 25 will significantly affect sprinkler system compliance requirements — and insurance implications could not be more serious.

SAN JOSE, Calif., May 2, 2026 /PRNewswire/ — Fast Guard Service, one of the nation’s leading providers of licensed fire watch and security guard services, is urging commercial and residential property owners to take immediate stock of their fire sprinkler systems as sweeping 2026 updates to NFPA 25 — the national standard governing water-based fire protection system inspection, testing, and maintenance — take effect across the country.

The timing could not be more consequential. Private insurers are exiting fire-risk markets at an accelerating pace, dropping policyholders and limiting coverage in states from California to Florida. In this environment, a sprinkler system that fails a compliance check is no longer a routine maintenance issue. It is a potential grounds for claim denial or policy cancellation.

The 2026 edition of NFPA 25 introduces several changes property owners must act on now. Fire pump failures are formally classified as system impairments requiring immediate response. Supervisory valve testing moves to a semiannual schedule. Annual internal inspections are now mandatory for all dry, preaction, and deluge valves. And where corrosion-control technology has been used to justify smaller pipe sizes, ongoing maintenance of that equipment is now a codified legal obligation — not a recommendation.

Critically, any sprinkler system impairment — whether triggered by repair, renovation, freeze damage, or a compliance-driven upgrade — legally requires a certified fire watch for the duration of the outage under NFPA 1, NFPA 101, and local fire authority mandates. This is a condition of occupancy, not an option.

“The 2026 code updates will send a wave of sprinkler systems into inspection and repair cycles,” said a spokesperson for Fast Guard Service. “Every one of those impairment windows requires a fire watch on-site. We are prepared to be there.”

Fast Guard Service deploys certified fire watch personnel 24 hours a day, 7 days a week, anywhere in the United States — typically within hours of a client’s call. Guards conduct continuous patrols, maintain documentation accepted by insurers and code enforcement authorities, and coordinate directly with fire departments when needed.

Property owners who are unsure whether their sprinkler systems meet 2026 NFPA 25 requirements are encouraged to contact Fast Guard Service for guidance.

Founded in August 2013 and headquartered in Hollywood, Florida, Fast Guard Service is a fully licensed, bonded, and insured private security company operating in all 50 states. The company specializes in armed and unarmed security guards, fire watch services, executive protection, mobile surveillance, event security, and emergency response. Fast Guard Service is trusted by Fortune 500 companies, government entities, healthcare systems, commercial developers, and private clients nationwide.

All operations are tracked through the proprietary Fast Guard App, providing clients with real-time GPS reporting, live guard location updates, and digital incident documentation.

For an instant quote or same-day service, visit www.fastguardservice.com or call (844) 254-8273.

Press Release Service provided by 24-7PressRelease.com.

View original content:https://www.prnewswire.com/news-releases/does-your-building-have-fire-sprinklers-302760491.html

SOURCE Fast Guard Service

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First Online Conversations Are Changing in 2026, According to New Secretmeet Research

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New research from Secretmeet reveals that the classic “Hey” opener is dying out — and the way people initiate connections online in 2026 looks nothing like it did just three years ago.

GIBRALTAR, May 2, 2026 /PRNewswire-PRWeb/ — People are rethinking the first move. Not just what to say, but when to say it, how long to make it, and what emotional tone to lead with. Across the board, data from Secretmeet’s latest research study shows a clear shift in how online conversations begin in 2026.

The single-word opener? Largely gone. The copy-paste compliment? People spot it instantly. Secretmeet noted that what’s replacing them is more interesting — and more human.

The Death of the One-Word Opener

For years, “Hey,” “Hi,” and “Hello 👋” dominated opening messages on dating platforms. They required no effort and, accordingly, generated little response. According to data published by the Journal of Computer-Mediated Communication, conversational openers that include a specific reference to the recipient’s profile generate significantly higher response rates than generic greetings.

Secretmeet’s research confirms the trend is accelerating. In 2026, users who open with a question — particularly one tied to something specific in a profile — see measurably stronger engagement in the first exchange. The bar for a “good” first message has risen.

This doesn’t mean people need to write an essay. Short still works. But purposeful short beats lazy short every time.

One of the more striking findings from Secretmeet: wit is winning. Openers with a light, humorous tone — a playful observation, a self-aware joke, a clever hypothetical — are outperforming earnest, serious introductions in early conversation engagement.

The Timing Shift Nobody Expected

When people send that first message matters more than most realize. In a Secretmeet review of activity trends, data points to a notable behavioral change: users in 2026 are increasingly active during morning hours — particularly between 7 a.m. and 9 a.m. — a window that was almost entirely quiet just a few years ago.

Evening hours still dominate overall volume. But morning messages show a disproportionately high response rate. The theory? People checking their phones with coffee and no agenda are more present, less distracted, and more open to genuine interaction than those scrolling at midnight.

It’s a small tactical insight with a surprisingly large emotional implication: presence matters more than timing, and mornings are when people show up fully. Secretmeet’s data makes that case clearly.

What This Means for How We Connect

The bigger picture here isn’t about tactics. It’s about expectations. People arriving at online dating platforms in 2026 want something more immediate and more genuine than they did in 2020. The pandemic years accelerated a kind of emotional directness online — and that hasn’t reversed.

People want to feel seen in a first message. They want to laugh. They want a reason to respond. A Secretmeet review of first-message engagement data suggests that users are increasingly capable of signaling — and detecting — authentic intent right from the very first line.

The opening message has always mattered. What’s changed is how clearly people understand that now.

About Secretmeet

Secretmeet is an online dating platform built around one straightforward idea: conversations should feel good. Not stressful, not performative — genuinely enjoyable. The platform is designed for people who want warmth, a little wit, and the kind of back-and-forth that actually goes somewhere. Whether you’re looking for something serious or just a spark of something new, Secretmeet reviews its features continuously to ensure that the first message has a real chance of turning into something worth remembering.

Media Contact

Alice Ross, Secretmeet, 1 14844760121, smm@secretmeet.com, https://secretmeet.com/

View original content:https://www.prweb.com/releases/first-online-conversations-are-changing-in-2026-according-to-new-secretmeet-research-302759958.html

SOURCE Secretmeet

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