Wednesday, 4 March 2020
Limited partners' session (invitation only)
In a confidential setting, hear first-hand about private market investing from your peers, many of whom have decades of experience investing in global markets and working with GPs. Attendance is open to LPs with current commitments in the alternatives space, as well as to those currently not allocating but who wish to find out more about the industry. The session includes presentations, an interactive panel with the experts, and a practical group discussion. A wide range of topics crucial to your future investment strategy will be covered, including:
- Where is the next geography and investment strategy for diversification?
- What effect will consolidation of the industry have on the ability to deploy to alternatives?
- How are the roles of advisors evolving to become important partners?
- How is speed of GP capital deployment effecting the ability to analyse performance prior to committing to a future fundraise?
- How do you gain better access to co-investment and become a value partner in addition to a provider of capital?
- What trends are LPs seeing for whole portfolio returns vs alternatives?
Registration and networking coffee break
Opening keynote address
Global alternatives: Navigating market instability
As the wait for the inevitable downturn continues, private markets remain popular with LPs, enabling managers to raise ever larger funds across multiple strategies and bespoke accounts. Understanding how and when the wave of macro issues might come to fruition and effect markets, predicting investments that are less exposed to downside risk and have growth potential, and having the skills to predict, plan, and stay ahead of the curve is paramount. Our panel examines the world in 2020 and beyond, as well as what private market managers can do to prevail in these conditions.
- What are the main threats that could damage the current buoyancy in the investment arena and are they likely to occur?
- Are we in a period of the new normal for multiples and returns, and are LPs accepting of this change?
- Where are the best bets for investments looking at a five-year hold and exit horizon?
- Has the blurring of asset classes in alternatives become less important if the return profile remains?
Australasia: Finding your place in the investment arena
Market activity has been steady over the last 12 months, especially in the mid-market where deal flow and competition has seemed less challenged than at the big end of town where deals have been harder to get across the line. The exit market is experiencing bumps, especially the IPO route for private equity, and as we brace for potential headwinds, all industry participants regardless of their position in the market must be ready to roll up their sleeves. In this session, a panel of the regions’ leading investors will debate the hot topics:
- What sectors are best before and after a downturn for resilience and distressed opportunities?
- Is buy-and-built the safe bet for capturing growth in the current climate?
- Why are we seeing a rise in public to private deals and how are these being executed?
- How are LPs viewing Australia and are GPs achieving diversification in their investor base?
Deal origination to exit: Building operational teams that deliver
In a low growth environment having the ability to generate alpha is a must. For years value creation has been an industry buzz word, and now GPs – big and small – are looking to go beyond this term and upskill their team and practices to match both LP expectations in 2019, the needs of their portfolio, and to develop their business as the private equity industry evolves. From cradle to grave, how do you expand your business to include the HR skills needed to build management teams, data science technology for portfolio monitoring, sales strategy for greater market share, and ESG, diversity, and leadership training?
- What tools can be used to enhance data gathering, analysis, and reporting?
- How do you build a cohesive team of experts, and when and how should they work?
- What does a modern private equity team look like in 2019?
- What does best practice look like and is there an industry one-size-fits-all?
Data presentation: Private equity performance update – how Australasia fares on the global stage
Networking coffee break
Portfolio construction: What LPs want
Even though capital continues to flood into alternatives and accessing top managers can be difficult, LPs have plenty of choice in terms of geography and strategy. The challenge is building a portfolio that fits their risk-return profile. It is not simply a case of deciding between a global fund and a collection of smaller managers. Broader considerations such as exposure to technology across the portfolio, the importance of co-investment and what constitutes an appropriate Australia allocation also come into play. Leading LPs address the key issues.
- Have LPs adjusted their return expectations for Asia?
- How is the role of third-party advisors changing?
- What is required to be an effective co-investor?
- Is ESG playing a larger role in asset allocation?
Global Venture Capital: Making the headlines
Early-stage exposure to the next generation of ground-breaking technology companies has become a prized commodity in the LP community, no more so than among the super funds in Australia. However, finding fund managers with capacity for a new investor and the expertise to find start-ups that flourish requires skill. In this session, leading investors discuss the global opportunity for venture investing and where the next wave of investments will be found.
- To what extent is global venture capital all about the US, China, and Israel?
- Is the valuation vs profitability problem creating major bumps for investors?
- How are global GPs collaborating with their Australian counterparts?
- How can you get the best out of your global venture portfolio?
Close of day 1 conference
2020 AVCJ Gala Dinner – in partnership with Australian Investment Council