Programme Day 3

Day 1 | Day 2 | Day 3

  • Friday, 2nd March 2018

  • 09.00

    Succession the right way

    LPs in Australia are concerned about the long-term team stability of the GPs in their PE portfolio. Some of them have attempted to address succession issues, but with mixed results. While others do not see it as an issue for their fund despite questions from investors. So how do you find the right balance, will founders want to relinquish power to retain key staff, and what does good succession look like? In this session, a panel of GPs and LPs will debate the following topics:

    • Who owns the track record?
    • How concerned are LPs that GPs are not prepared?
    • What models exist, and what have we seen from GPs across the globe?
    • What is the outlook for succession in Australia given the maturity of funds and make-up of senior management?

    Moderated by:

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    Tim Burroughs Managing Editor, ASIAN VENTURE CAPITAL JOURNAL

    Panellists:

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    Justin Ryan Managing Partner, QUADRANT PRIVATE EQUITY
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    Will MacAulay Investment Manager - Unlisted Assets, HESTA
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    John White Partner, NEXT CAPITAL
  • 10.00

    Keynote address

    Investing in disruption: How the Future Fund utilises private equity and venture capital globally to access the next generation of opportunities

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    Raphael Arndt Chief Investment Officer, FUTURE FUND
  • 10.30

    Networking coffee break

  • 11.00

    Asia highlights: Where, why, and how for LPs

    The onus is on GPs to prove they have the capability to prosper now that beta and bull markets are a thing of the past. As the asset class continues to mature in the region, GPs are evolving to add to their offerings and institutionalise their firm to attract a wider LP base. Our Asian experts will share their thoughts on delivering performance in the current environment and how Australian LPs should commit to the region to ensure they have a diversified portfolio.

    • How can Asian managers capitalise on the desire from LPs to look outside of the mega global players for regional exposure?
    • Are spin-out funds with niche strategies and terms garnering interest?
    • What strategies are attracting LPs to funds, and where have we seen the best returns?
    • How can new LPs looking at Asia create a balanced portfolio across the region?

    Moderated by:

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    Hemal Mirani Managing Director, HARBOURVEST PARTNERS (ASIA)

    Panellists:

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    T.J. Kono Partner, UNISON CAPITAL
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    Kay-Mok Ku Managing Partner, GOBI MANAGEMENT (SOUTHEAST ASIA)
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    Jessie Yan Director, LUNAR
  • 11.45

    New wave of LPs for alternatives

    The growth in variety in the LP community has long been touted as the new source of capital for private equity, however GPs have struggled to make a breakthrough. From family offices, HNWI’s, and corporate investors, the potential for GPs to broaden their LP base of both domestic and international LPs is present. However, these groups are characterised by a high level of patriarchal involvement, minimal reliance on formal programmes run by professionals, and a preference for direct investment. Our panel looks at how PE can work with these groups and how interest in alternatives can be translated into financial commitments.

    • What type of non-traditional LPs have made commitments to private equity?
    • Are they able to react faster to opportunities than other LPs?
    • To what extent are they competitors for deals rather than partners?
    • How do you source new LPs and present the PE opportunity?

    Moderated by:

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    Sheridan Lee Founder and Principal, SHED ENTERPRISES

    Panellists:

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    Graeme Bibby Chief Investment Officer, MUTUAL TRUST
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    Daniel Bowden Partner, STAFFORD PRIVATE EQUITY
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    Mark De Ambrosis Managing Director, ARMITAGE ASSOCIATES
  • 12.30

    LPs’ views on Australasia and beyond

    The world offers a myriad of strategies, fund types, specialties, and terms. Do you commit big to a handful of mega funds, or seek out the niche country only managers with deep rooted connections and expertise? Alternatively, do you try a combination of both, and if so, which geographies, what role should Australia play, and how do you strive to get the balance right? 

    • Which are the most interesting sectors, regions, and strategies?
    • Have LPs adjusted their expectations for returns from Asia?
    • How you do you execute direct investments whilst managing fund relationships?
    • Is manager consolidation the way of the future?

    Moderated by:

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    Alex Wilmerding Partner, PANTHEON VENTURES

    Panellists:

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    Adriana Ballard Senior Investment Officer, EMPLOYEES RETIREMENT SYSTEM OF TEXAS (ERS)
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    Jenny Newmarch Portfolio Manager - Growth Assets, FIRST STATE SUPER
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    Raju Ruparelia Director, Private Capital, ONTARIO TEACHERS' PENSION PLAN (ASIA) LIMITED
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    Cameron Sinclair Director, Private Equity, FUTURE FUND
  • 13.30

    Lunch and Close of Forum