Asian PE investors must accustom themselves to longer holding periods and more aggressive value creation initiatives if they are to achieve their target returns in a pricey market, according to Bain & Company.

“You used to be able to buy something at a cheaper multiple, drive a bit of growth, and sell for a higher multiple. Now you need to focus more on value creation,” said Johanne Dessard, a global practice director in Bain's PE practice.