Family-owned businesses in Asia are increasingly turning to private equity firms to drive growth as fewer heirs step forward and companies require external capital, DealStreetAsia reported. The pandemic accelerated succession planning, prompting some families to sell stakes or control to investors. Recent deals include L Catterton’s majority stake in Chinese beverage company Viee and a USD60m minority investment in India’s pet food firm Drools. Hong Kong-based Templewater bought Singapore’s Knight Auto Precision Engineering as its founder neared retirement. The trend reflects shifting attitudes among younger generations less inclined to inherit family businesses. Private equity is seen as a strategic partner providing growth capital and management expertise. Japan leads the region in such transactions, with many family-owned businesses facing succession challenges.