Programme Day 1
Registration and refreshments
Keynote panel: Private equity as a catalyst for growth
As the dark clouds of economic uncertainty loom on the horizon, private equity will need to become more than just a source of capital. With its track record of building better companies and navigating them through economic cycles, private equity investors are the ideal partners for sustained growth. In fact, many in the industry has transcended those characteristics to also be the beacon for responsible and sustainable investing. Our panel of industry leaders showcase successful examples, discuss failures and share best practices for the future.
- What is the role of private equity in the domestic and global economy?
- How can private equity create better companies that stand the test of the times?
- Are Chinese GPs ready for the upcoming opportunities and challenges?
- How to work with entrepreneurs/CEOs, co-investors, LPs and government officials to create win-win situations?
Chinese private equity: finding opportunities in a shifting landscape
Chinese private equity is at a turning point. Domestic growth and consumer spending slowdown, government’s efforts on corporate deleveraging leading to tighter liquidity, all act to cool the market. Cashed-up investors, though, see this as a good time to invest in economic shifts, corporate restructuring, industry transformation and moderated valuations. A group of China experts discuss:
- How has the private equity landscape changed in the past 12 months?
- What are the new opportunities? Is there a risk of overcrowding in certain sectors?
- Is the shake-up of RMB fund market re-directing capital to USD fund market?
- Which strategy is leading the way in China - VC, growth, or buyouts?
The rise of corporate investors
The role of Chinese corporate investors, including SOEs, private conglomerates and unicorns, has changed significantly. From private equity beneficiaries in their infancy, to strong partners in co-investments and exits, these companies have grown into leading enterprises. Now many have created dedicated investment platforms and sector-focused funds leveraging their industry expertise. How will this trend impact the evolution of Chinese private equity? Our panel of corporate investors and corporate spinout funds evaluate the opportunities and challenges ahead.
- Are corporate investors more strategic or financially focused, and what are their investment approaches?
- How different are corporate investors from GPs in operational value creation, deal selection and exits?
- How are these up-and-coming managers gaining traction from LPs?
- Where do corporate investors / spin-out managers fit in the PE ecosystem? Can they be synergistic instead of competitive?
Nurturing responsible investing in China: Key drivers, opportunities and challenges
Political pressure and environmental events coupled with the growing demands from international LPs have raised the awareness of responsible investing in private equity in China. Despite slow implementation, with the growing need for solutions to water shortage, climate change, energy efficiency and food safety, the opportunity to grow responsible investments into profitable investments is real. Our group of seasoned investors discuss:
- What are some regulations, policy drivers, and best practices that different countries have adopted and what do these mean for China?
- Where do you see the most attractive opportunities?
- How do successful fund managers integrate ESG strategies into their investments to maximize value and impact?
- What are the top five ESG considerations that LPs look for when evaluating a GP?
China Venture Capital: The golden age
2018 has been a fruitful year for Chinese venture capital: for the first time, Chinese start-ups have outpaced US peers in VC investment volume. More investors are joining the VC party – from angel funds to PE/VC and international corporate venture arms – and banking on Chinese entrepreneurs for the next game-changing innovations. Will the golden age continue, or peak? Our tech-savvy investors consider:
- Where are the most exciting innovations and entrepreneurs?
- What are the new fund structures and strategies?
- Will there be more international participation?
- How is the retreat of renminbi funding reshaping the market?
China late-stage tech bubble: is the end coming?
From SoftBank’s Vision Fund and SWFs to traditional PE firms, large-cap investors continue to invest in technology. Bigger funds are raised, capital focuses on a few deals, valuations are pushed even higher, while more and more enterprises are pushed into high growth without a solid operating history. As the economy slows and exits close, how much further can investors and unicorns go? Our panel of tech experts delve deep into the market.
- Are the unicorns dying?
- Are large, highly visible deals distorting the landscape?
- How should investors evaluate and justify valuations?
- Will Shanghai's new technology and innovation board enable easier exits?
Chinese healthcare: the promise remains
Despite overpriced assets, excessive capital, breakneck investment pace and unrealized exits, China’s healthcare sector remains a top focus among investors of all stages and types. The fundamentals supporting growth remain unchanged, and investors have dug deeper in sourcing targets across sub-segments, created products/services that better suit the Chinese market, and employed novel strategies for value creation. Our sector specialists discuss:
- Is Chinese healthcare overheated? What are the new drivers?
- Where are the most attractive targets in devices, services and pharmaceuticals?
- How is escalating trade tension affecting cross-border deals?
- How are successful GPs exiting their investments? How have the incentives for listing in HK and China affected IPOs as an exit route?