Samson Wong, Chief Investment Officer for Private Markets at the Hong Kong Monetary Authority (HKMA) Exchange Fund Investment Office, expressed guarded optimism about private equity in the Asian Private Equity Forum 2026, emphasizing disciplined, long-term strategies amid a volatile macro environment.
Reflecting on 2025, Wong described it as a "very complex year" marked by US policy uncertainty, escalating geopolitical risks, public market volatility, and fiscal pressures in Western economies affecting interest rates. Despite these headwinds, he noted improving deal activity, including blockbuster transactions and innovative liquidity tools such as continuation vehicles, though fundraising remains challenging with HK$1-2 trillion in dry powder.
Wong underscored HKMA's approach since entering private equity in 2008, that is, geographic diversification across Asia, Europe, and North America, consistent deployment to avoid vintage-year pitfalls, and partnerships with top-tier, institutionalized general partners.
He said Hong Kong has the broadest and deepest private equity talent in Asia, and HKMA will continue to support local general partners through partnerships, fostering ecosystem growth under market uncertainty, but remain "selective" in terms of their ability to generate revenue and profits cyclically, and that they can maintain their presence in Hong Kong.
Gloria Leung
