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By John Mackie of the British Venture Capital Association

Venturing into India: a legal and structural overview By Siddharth Shah of Nishith Desai Associates, Mumbai

Getting nowhere: private equity in China By Jonathan Zhou, Fangda Partners, Shanghai, China

Private equity trends and developments By Al Donald, Kon Mellos and Nick Wormald of Freehills in Sydney and Melbourne

By Asia Private Equity Review

The European private equity and venture capital industry By EVCA – The European Private Equity and Venture Capital Association

The mega deal drought that lasted more than half-a-year was finally broken by the third quarter of 2002. The last private equity transaction that exceeded $100 million took place back in March when US-based Farallon Capital invested $520 million into Indonesia's Bank of Central Asia. By the two months ending mid-September, however, three transactions were, or were in the process of being, completed. Their combined transaction total would command an amount in the vicinity of $620 million (figure 1). All three transactions were undertaken by the Asian arms of global private equity houses. At a time when the Asian private equity industry is facing its most extensive consolidation to-date, the active participation of these non-indigenous Asian firms is not only a pledge of faith in the regional market, but also an affirmation of their central position in driving forward private equity outside of Japan.

After graduating in Economics and Law from the University of Sydney in 1977, Andrew worked in resource and industrial project development, and focused on identifying opportunities for adding value in the Australian resource sector.

The Securities (Miscellaneous) (Amendment) Rules 2002, which came into effect on November 15 2002, introduced new exemptions for section 80 of the Securities Ordinance for relieving prohibition of the uncovered short selling of securities.

On November 7 2002, the China Securities Regulatory Commission and the People's Bank of China jointly issued the Interim Measures on Administration of Domestic Securities Investment of Qualified Foreign Institutional Investors (QFII). These measures allow foreign investors to invest in publicly traded, yuan-denominated A shares, treasury and corporate bonds listed on the Shanghai and Shenzhen stock exchanges. The new rules became effective December 1.