Key facts
- Goldman Sachs Asset Management identifies Japan, South Korea, and Australia as key regions for corporate buyouts.
- The firm is preparing to launch its first dedicated Asia Pacific private equity fund with a target of $2 billion.
- Asia-Pacific private equity deal value increased by nearly 25% in the first three quarters of 2025.
- Take-private transactions are a significant trend in the region, with Japan and Australia showing high activity.
- Bain Capital's Satoshi Ueyama advised caution regarding AI investments, noting potential overexcitement.
Goldman Sachs Asset Management sees significant buyout opportunities in Japan, South Korea, and Australia, according to Stephanie Hui. Hui stated that corporate buyout and private equity activity in Japan is in its "early innings" and the country's stock market is well-positioned for consolidation.
Private equity deal value in the Asia-Pacific region rose by nearly 25% to US$137 billion in the first three quarters of 2025 compared to the same period in 2024. While the number of deals saw a slight decline, the value indicates a trend towards larger transactions, with buyout deals increasingly comprising majority stakes rather than minority investments.
The region is experiencing a surge in take-private activity, with Japan, Singapore, China, and Australia leading the charge. As of December 15, 2025, there had been 106 take-private deals in APAC, valued at US$45.6 billion, surpassing the full-year figures for 2024. Transportation, real estate, and machinery have been prominent sectors for these deals.
Meanwhile, Satoshi Ueyama, chief strategist at Bain Capital Japan, cautioned that while AI presents opportunities, the market may be overexcited, and not all AI investments will prove successful. His firm is focused on identifying AI-enabled winners in the service and consumer application sectors.
Reflecting its strategic focus on the region, Goldman Sachs plans to launch its first dedicated Asia Pacific private equity fund, targeting $2 billion. Japan is expected to receive half of this capital, with India, South Korea, and Australia also being key markets. This move comes amid reassessments of investment strategies by global investors due to geopolitical tensions and macroeconomic headwinds.