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Southeast Asia Private Equity Pulse: 2024 in review
The private equity (PE) activity in Southeast Asia (SEA) witnessed good momentum in 2024 compared to the previous year.
In 2024, there were a total of 67 deals deploying over US$15.8b in capital.
Infrastructure was the most active sector, contributing 40% of SEA’s total PE deal value in 2024. With demand created from the migration to cloud and the progressive maturing of artificial intelligence (AI) technology, PE firms remain highly active in building out digital infrastructure capabilities in telecommunications, tower companies, data centers and fiber optics across the region. With countries such as Indonesia, Vietnam, Thailand, Malaysia and the Philippines leading major infrastructure initiatives, SEA has also become a compelling destination for investors looking to benefit from the shift in global supply chains.
Other sectors such as real estate and consumer constituted 20% and 13% of the total PE deal value, respectively. The rising middle class consumer theme in SEA is a megatrend that will drive PE interest in various sectors such as consumer, health care and financial services. Business services also remains an attractive investment thesis given the significant opportunities for consolidation in this space.
Read past issues of our Quarterly Private Equity Pulse.