Speaking to Bloomberg Television at the World Economic Forum in Davos, Tang said Asia offers both a vast source of demand and a powerful engine of innovation, with China playing a central role despite recent economic challenges. Tang said global investor sentiment towards China has improved over the past year after a period in which the market was widely viewed as 'uninvestable'. Investors are now reassessing risk and recognising the resilience of high-quality Chinese businesses, he said. He acknowledged that domestic consumption remains China's biggest risk, citing weak job creation, lingering stress in the property sector, and broader economic headwinds weighing on consumer confidence. Still, Tang said the scale of China's domestic market continues to underpin long-term investment opportunities. Innovation remains a key driver, particularly in life sciences, where Chinese companies are producing globally competitive products. Tang also expressed optimism about Hong Kong's capital markets, pointing to a strong pipeline of IPOs that could provide exit routes for private equity investors....

'We want to make a toolbox of magnetically remote-controlled protein functions,' says Andrew York, a physicist at the Chan Zuckerberg Biohub in San Francisco, California. York is a co-author of a study, published today in Nature, that deployed the magnet-responsive proteins in bacteria1, as well as a co-author of a separate preprint study2 that demonstrated the use of similar proteins in nematode worms. Two years ago, while working at the biotechnology company Calico Life Sciences in South San Francisco, York and his former colleague biochemist Maria Ingaramo discovered that green fluorescent protein (GFP), a workhorse in biotechnology that is used to label other molecules, dims in the presence of a weak magnet3. The effect was small ' the brightness of GFP dimmed by about 1% near a magnet ' so the researchers engineered a more responsive protein, called MagLOV, the fluorescence of which dims by half or more in the presence of a magnet. To explore how best to harness MagLOV's properties, a team led by biophysicist Gabriel Abrahams and bioengineer Harrison Steel, both at the University of Oxford, UK, tested the basis for its sensitivity to magnetic fields....

Gross, who was appointed co-managing partner in 2024, will now lead Bain's global partnership. John Connaughton, co-managing partner since 2016, will move into the role of chair, according to a letter sent to investors. The appointment formalises a succession process that has been underway for several years. Gross previously built Bain Capital's Asia investment operations and played a central role in some of the firm's largest transactions, including the $18bn acquisition of semiconductor group Kioxia. Bain manages about $215bn in assets and has evolved into a multi-strategy platform spanning private equity, credit, real estate, life sciences, and venture investing. Unlike peers such as Blackstone and KKR, the firm has remained privately held. In a letter to investors, Bain said: 'We believe effective succession should be planned years in advance, ensuring we develop our leaders, expose them to the right experiences and provide the next generation with exciting growth opportunities.' Subscribe to our Newsletter to increase your edge. Don't worry about the news anymore, through our newsletter you'll receive weekly access to what is happening. Join 120,000 other PE professionals today....

The new vehicle is Lux's ninth fund and the largest the firm has raised since its founding in 2000. The fund was oversubscribed, with the venture capital firm turning away roughly $1bn in investor demand, according to its partners. Lux said the fund will target companies pursuing breakthroughs across physical, computational, and life sciences, with particular emphasis on technologies relevant to defence, aerospace, artificial intelligence, robotics, and energy. The firm's investment team plans to deploy capital through cheques ranging from $100,000 to $100m. The raise comes amid closer collaboration between Silicon Valley and Washington, as the US government seeks to accelerate investment in areas deemed strategically important. Lux has already built exposure to defence-related technologies, having backed companies such as Anduril Industries, Saildrone, and Astranis, all of which hold government contracts. Josh Wolfe, Lux co-founder and managing director, said: 'We happen to be in the companies delivering this at a critical time. Many feel very confident that this will be a company-making next few years for some startups.'...