The region's private markets have entered an exciting new phase defined by regional differences and more sophisticated investors, writes Hemal Mirani, managing director and head of APAC at Harbour Vest. Over the past four decades, Asia-Pacific has evolved from an emerging private equity market into one of the world's most dynamic private market hotspots. Once defined primarily by its growth potential, the region is now characterised by deeper market opportunities, increasingly sophisticated investors and a much broader range of private markets strategies.