Increasing outbound M&A activity from Asia, fuelled by growth in foreign reserves and strategic interest in moving up the value chain and securing access to natural resources:

• Technology, industrials;
• Natural resources, oil and gas;
• Agri-food;
• Consumer brands.

European investors' (e.g. family offices) interest in gaining emerging markets exposure faces challenges:

• Market knowledge and transparency;
• Difficulty in selecting the best and most trustworthy teams/partners;
• Limited access to attractive proprietary direct investments (typically via funds or funds of funds promising co-investments).