How is private equity in Asia riding the downcycle?

2021 was a record fundraising year for private equity (PE) firms globally and Asia was no exception. But global market volatility, rising geopolitical risks, and growth and inflation concerns have characterised much of 2022 so far. 

Will the macro-environment impact private equity in Asia? What effect is record dry powder having on the industry? Should fund managers be doing anything differently? What is the exit outlook for private equity investments?