Asia

“I think it is light years ahead. They have, if not fully caught up, come very, very close. The management teams are sophisticated. The investors are sophisticated. The pools of capital are deep.”

“And in many ways, China today is just like Asia, 20, 25 years ago. The local investors are largely punters. They're largely short term. They don't really have the sophistication.”

“You know, if I could have one thing to do over, I would have realized that I should have hedged the currencies in Asia when current accounts went above five percent.”

“It's the finest energy asset in China, It's the finest infrastructure asset in Asia. It's the lowest cost producer of clean energy in a country that's choking on coal. This is really an important asset period in China.”

“You come to Asia at the time, there's literally nothing, nothing on a pan-Asian basis. There, it was IPL, which is a cricket league in India, but cricket won't cross geographies in Asia because no one really plays cricket in Asia except for India, and that was…”

“Today we're on TV across Asia, literally at the low end, a hundred hours a year at the high end, 2800 hours a year, 2800 hours. That's, you know, several hours a day, every single day of the year.”

“Cricket won't cross geographies in Asia because no one really plays cricket in Asia except for India”

“No one had ever tried to commercialize martial arts in Asia. That sounds as crazy as it sounds. You know, all the martial arts schools across Asia are very mom and pop and backwards in many ways.”

“Americans really love the underdog, the comeback story, the Rocky Balboa story. The American dream, you know, I think even Silicon Valley can fail a number of times and still be, end up being very wildly successful, you know, as an entrepreneur. In Asia, it's …”

“You had to go into it assuming there would be turnover, and so you'd have to take the extra time to really make sure you felt comfortable with everyone on the team so that you could make, because you would inevitably at some point probably have to make an asse…”

“Versus, I feel like sometimes in the U.S. You might be more willing to, okay, we can structure this in a way that will be protected if it doesn't, and it's, and we know how it would play out sort of in a U.S. Legal system and all of that sort of, in terms of k…”

“There were so many bodies that were buried that I, you know, I just, I know I never saw before when I would fly in for those weeks, and I, it's almost impossible. The stuff you heard about over lunch, just sort of randomly, you weren't even necessarily doing d…”

“The behavioral stuff's all the same. We all make the same mistakes. I have the same biases that I try to shed and my team tries to shed. Mr. Market has the same biases. They overreact to bad news and vivid recent information. They underreact to things which di…”

“Now, I think in Europe or in Asia, I think there are still cheap LBO opportunities, right? So a firm like Bain or Blackstone, they're still seeing opportunities to do really attractive buyouts ex-U.S. But within the U.S., you can't.”

“We support CDP. We're pushing all our companies to undertake CDP work, which is formerly known as Carbon Disclosure Project. It's been very successful in Europe and the U.S., been very unsuccessful in Asia.”

“All right, we can't label it as Asia because every country has its different culture and way of doing things, so we have to change our approach and realize that there it's a beta market, it's a volatile market, and it would only make sense on a net basis to do…”

“In the US, it's all about execution speed and technology, and we're going to go with the startups. We're only going to go occasionally with the fundamentals that have an edge or something depreciated. Asia, we said we're going to go only with the market neutra…”

“And for me, I want Asia to be 15 to 20% of my book over the next five years, coming out of a three percent position today.”

“Clearly Asia generates a fair amount of innovative companies relative to Latin America and Eastern Europe, Middle East Africa.”

“And so I started China Accelerator, which was the first accelerator program in Asia.”

“We have about 15% of the portfolio, public and private, in Asia. And we'll just, I'll start with China first. So it's, and of that, half of it is in China, half is elsewhere in Asia, which I actually think is a good number.”

“I think from an investable universe, half of the private equity in Asia had really ultimately been within China, and a lot of that was actually USD offshore. What's been interesting to watch is the size of the China private equity and venture market from a fun…”

“For investing in Asia. I always think it should be 500 basis points more. Europe should be two to 300 basis points more. Right? US is just more liquid.”

“You actually want to be investing in Asia for one simple reason. If the driving force in Asia is China, And that driving force is growing by five percent a year. Do you think that's beneficial for the region? Yes. But people look at your question, geopolitical…”

“We're going to expand our fundraising, adding people in Europe, adding folks down the road in Asia, entering the high net worth sector.”

“If you look at Asia as an example, we think they're out four to five years in front of the U S on how to use video from a concept of engaging the consumer.”

“We're the largest wealth manager in Asia. We're the largest wealth manager now in Latin America after our Credit Suisse acquisition. And we're the fourth largest wealth manager in the United States based on assets under management from wealth clients. Also the…”

“The capital raising that we did in Europe was tremendous and a little bit of a surprise for us, and I think this year may be that year for Asia, but being global is important because I think it's a global opportunity.”

“There was a period of time where of all the private money being invested in emerging markets around the world, 90% of that money went to Asia, of which 90% went to China. This concentration, 81% of all private investing money In emerging markets flowed to one …”

“Because I'm sick of people trying to run Asia from seven in the morning when they're busy or seven at night when they're tired. I said, Asia is going to be a more finessed market with the very Korea, China, onshore, offshore China, Japan, India, Southeast Asia…”

“In other parts of Asia, that dynamic doesn't exist. We're often looking, the ambit of what banks can do in that market is wide, and whenever you're trying to compete with someone with such a low cost of capital, you just have to step up the risk curve.”