Michel Brekelmans is the founder and managing director of SCP/Asia, a Singapore-based boutique strategy consulting firm.
Asia's private equity industry is facing unprecedented challenges. Bain & Company's recently released Asia-Pacific Private Equity Report paints a grim picture for 2024: deal value in 2023 will fall to $147 billion, down 35% from the previous five-year average, and 2021 and showed a staggering 59% decline from its peak. .