Asia Pacific is currently undergoing huge shifts. Given Asia size, diversity and the relative maturities of its various economies, some of these trends are idiosyncratic, but others apply more widely. Social, demographic and technological change is evident across much of the region. The rise of Asia Pacific middle class is just one significant transformer. According to Bain and Euromonitor, by 2030, Asia Pacific will boast more than three times the number of middle-class consumers than Europe and North America combined. Growing investor interest The shifts described above, along with sustained industrial development and favourable macro conditions, could facilitate Asia Pacific continued economic growth. Over the past decade, Asia Pacific private equity AUM grew at 2.4 times North America rate and 3.0 times that of Europe. Its deal value was around $200 billion in 2022. Distinctive characteristics Asia private markets differ from those in Europe and the US. While the latter two are weighted towards the buyout segment, growth investment accounted for more than half of deal value in Asia Pacific in 2022. Family-owned and entrepreneur-led businesses dominate the region private equity markets.