Programme Day 1
Day 1 | Day 2
Registration and refreshment
Bin Qi, Executive Vice President, China Investment Corporation
The private markets outlook for 2018
Institutional investors are confident that alternative assets, especially private equity, will continue to deliver superior returns, and are making larger allocations. Global and pan-Asian managers are raising correspondingly bigger funds for various strategies, sectors, and regions, in record time. Despite the bullishness, investors still worry about deal flow, valuations, and future prospects. Our panel examines the current state of the market and discusses what industry leaders are doing to achieve Alpha.
- What are the key factors affecting the investment landscape?
- What is the impact of prolonged high valuations? How has this affected the investment cycle?
- How are international GPs adopting their strategies for investing in China? How do they hedge against the risks?
- How are cross-border themes playing out? Are they triggered by the One Belt, One Road initiative and the evolving Chinese economy?
Moderated by: Peter Kim, Partner, COLLER CAPITAL
Julian Cheng, Co-Head of China, WARBURG PINCUS
John Lindfors, Managing Partner, DST INVESTMENT MANAGEMENT
Frank Su, Senior Principal, CPPIB
The evolution of the China deal opportunity
Chinese private equity continues to evolve, from its original focus on growth capital, into more diverse approaches, including privatisations, succession planning situations, and corporate carve-outs. However, new opportunities present new challenges and GPs must adjust their strategies to succeed. Our panel analyse developments and discuss how to access emerging opportunities.
- How has the deal environment evolved in the last 12 months? Where are the opportunities?
- Is specialisation the new key to success?
- What factors are bringing GPs, LPs, and strategic investors together? What aligns them and what sets them apart?
- How do you develop a compelling strategy and communicate it to LPs?
Moderated by: John Gu, Head of Private Equity and Head of Deal Advisory, M&A Tax, KPMG CHINA
Tim Li, Managing Director, GOLDMAN SACHS
Olivia Ouyang, Director, Private Capital, ONTARIO TEACHERS' PENSION PLAN (ASIA) LIMITED
David Qiu, President & Partner, PAGAC
Jingjing Yan, Director, LUNAR
Private equity’s role in the Belt and Road initiative
The Chinese government’s Belt and Road Initiative (BRI) continues to gain momentum with investments into the economies along the “Belt” and the “Road” surging in the last two years. While the focus currently on the infrastructure and related projects, new investors are looking towards emerging opportunities in various sectors that will enhance transnational connectivity and resolve long term development needs for the BRI countries. The investment potential is enormous but complex. Our panel of senior policy makers and investment professionals highlight the opportunities that will emerge in the next five years.
- What are the potential mid-to-long term investment opportunities triggered by the Belt and Road Initiative? How can PE investors play a role?
- What new policies and enhanced initiatives are in the pipeline to facilitate BRI-related investments?
- Where are the most attractive opportunities for financial investors and how can funds get in the game?
- What are the key challenges encountered – from dealsourcing to deal execution – and how can they overcome?
Moderated by: Myron Zhu, Co-Head of Private Equity Asia Pacific, Aberdeen Standard Investments
Honghui Cao, Deputy Director General Research & Development, CHINA DEVELOPMENT BANK
Yi Bao, Founder and Chairman, CEDARLAKE CAPITAL
Jiangdong Hu, Richard, Head & Managing Director, Overseas Infrastructure Fund Department, CHINA EVERBRIGHT LIMITED
Fanglu Wang, Senior Managing Director, CITIC CAPITAL; Managing Partner, CITIC CAPITAL SILK ROAD FUND
Victor Koo, Chairman, HEYI HOLDINGS (Founder of Youku)
Ravi Thakran, C hairman and Managing Partner, L CATTERTON ASIA
Value creation: Go beyond the basics
If GPs are going to deliver Alpha in 2018 and beyond, they have to understand changing business models and consumer behaviour, and the impact of disruptive technologies. GPs need to retool their value creation capabilities, and while the basic ingredients for success remain the same, only those who can transform portfolio companies profitably will outperform. Our panel of experts ask:
- What approaches to value creation have been most successful, and can international experiences be applied in China?
- What are the best ways to ensure management team buy-in?
- How can GPs take advantage of new and potentially disruptive technologies to create value for portfolio companies?
- How do you build an efficient operating team?
Moderated by: Doris Guo, Partner, ADAMS STREET PARTNERS
Tony Jiang, Co-Founder and Partner, OCEAN LINK
Ken Shi, Managing Director, MORNINGSIDE VENTURE CAPITAL
Xiaoli Wu, Managing Director, BOYU CAPITAL
Vivian Zheng, Partner, ADVANTAGE PARTNERS
The rise of distress investing in China
The Government’s stringent control on NPLs, alongside the growing bubble of corporate debt, continues to drive distress and restructuring opportunities in China. While the industry has been previously dominated by a handful of local GPs and AMCs, foreign distressed investors and specialists arms of private equity firms are increasingly important competitors. How will China's distress landscape evolve over the next five years? Our panel of professionals discuss:
- Which themes offer the most promise for distress investors?
- How much competition is there from local and foreign players?
- What are the resources required for post-deal management?
- What is the risk/return expectation for the asset class?
Moderated by: Wilson Pang, Lead Partner of Turnaround, Restructuring Services and PSG China, KPMG
James Feng, Founding Partner, POSEIDON CAPITAL GROUP
Xuemei Hu, Former Deputy General Manager of Financial Institution Business Department, China Cinda Asset Management
Greg Peng, Founding Partner & CEO, CINDAT CAPITAL MANAGEMENT
Selina Zheng, Founding Partner & President, DCL INVESTMENTS
Chinese venture capital: The next level
Chinese venture capital is booming again. The proliferation of state-backed funds, the emergence of spinouts from global and domestic brand names, the wave of opportunities in areas such as AI, robotics, and big data, as well as revived exit routes via M&A and IPO at home and abroad, all support Chinese venture capital’s next phase of growth. However, obstacles along the way include sustainability of capital, availability of attractive deals, and intense competition. Our panelists discuss:
- Where are the most exciting innovations and entrepreneurs?
- How is renminbi fundraising reshaping the market?
- Will new fund managers continue to get traction? Is the market saturated with players?
- How is the exit environment developing? Are venture capital secondaries a viable option?
Moderated by: Jordan Silber, Partner, COOLEY LLP
Jeffrey Chi, Vice Chairman – Asia, VICKERS FINANCIAL PARTNERS
Allen Guo, Founding Partner, 2048 CAPITAL
Will Jiang, Founding Partner, N5CAPITAL
Xiaodong Jiang, Managing Partner, LONG HILL CAPITAL
Peter Mao, Partner, PANDA CAPITAL
Chinese technology: Going global
China has emerged as a leader in global technology, with its proliferation of creative business models and products that have triumphed domestically. Chinese tech investors are eager to take these innovations overseas, especially to Southeast Asia and India, and other high-growth markets with rising tech-savvy middle classes. But execution challenges range from identifying the right partner to perfecting a product that works across borders. Our panel of experienced deal-makers analyse the trends, and share their experiences and tips for success.
- What types of technologies/products are suited to expansion, and how are deals sourced?
- What are the new drivers for cross-borders activities?
- Are China-driven cross-border deals a permanent feature of the landscape or a temporary trend?
- How do you manage cross-border business and post-deal integration?
- Are Chinese products and technologies really applicable to other markets?
Moderated by: Chris Lerner, Partner and Head of Asia, EATON PARTNERS
Ke Wei, Partner and Investment Committee Member, HUAXING GROWTH CAPITAL
Winston Cheng, President of International, JD.COM
Jenny Wu, Managing Partner, BAIDU CAPITAL
Jing Wu, Partner, QIMING VENTURES
Wei Zhou, Founding and Managing Partner, CHINA CREATION VENTURES (CCV)