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?
Moderated by: Zhan Yang, Principal, COLLER CAPITAL
Wanlin Liu, Managing Director, THE CARLYLE GROUP
David Wong, Partner, PAG
Eric Xin, Senior Managing Director and Managing Partner, CITIC CAPITAL
Paul Yang, Member & CEO of Greater China, KKR
Moderated by: Sally Shan, Managing Director, HARBOURVEST PARTNERS
Xiangming Fang, Deputy General Manager, CCT FUND MANAGEMENT COMPANY LIMITED
Lili Zheng, Executive Director, Fund Investments, PING AN INSURANCE (GROUP) COMPANY OF CHINA
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:
- Where can managers find growth in today’s market? What are the new opportunities?
- Are we expecting more corporate carve-out deals as the result of corporate deleveraging?
- How has the shake up of RMB fund market impacted investment landscape?
- What are the best practices to evaluate risks under current investment climate?
Moderated by: Paul Liu, Founder and CEO, HUISHENG CONSULTING
Linda Cai, Partner, LOYAL VALLEY CAPITAL
Jing Hong, Founding Partner, GAOCHENG CAPITAL
Tony Jiang, Co-Founder and Partner, OCEAN LINK
Jim Tsao, Chairman and Head of China, PERMIRA ADVISERS CHINA LIMITED
Jessie Yan, Director, LUNAR
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?
Moderated by: Jenny Yao, Partner / Head of Healthcare, KPMG
James Ieong, CEO and Managing Partner, PAGODA CAPITAL PARTNERS
Richard Lu, Managing Director, SDIC FUND MANAGEMENT
Jonathan Wang, Partner, ORBIMED; Founding Partner, ORBIMED ASIA
Steven Wang, Managing and Founding Partner, HIGHLIGHT CAPITAL
Brian Gu, Vice Chairman and President, XPENG MOTORS
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?
Moderated by: Natasha Buckley, Investment Practices Senior Manager - Private Equity, PRINCIPLES FOR RESPONSIBLE INVESTMENT (PRI)
Jiang Bao, Deputy Director, NATIONAL COUNCIL FOR SOCIAL SECURITY FUND (NSSF)
Frankie Fang, Managing Partner, STARQUEST CAPITAL
Jun Ma, Director of the Center for Finance and Development, TSINGHUA NATIONAL INSTITUTE OF FINANCIAL RESEARCH
Vivian Zheng, Partner, ADVANTAGE PARTNERS
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?
- How is the retreat of renminbi funding reshaping the market?
- How do VCs consider mid/growth/expansion-stage opportunities?
- Are China-driven cross-border deals a permanent feature of the landscape or a temporary trend?
Moderated by: Xun Zeng, Partner, COOLEY LLP
Jeffrey Chi, Vice Chairman – Asia, VICKERS VENTURE PARTNERS
Herry Han, Founding Partner, LIGHTSPEED CHINA PARTNERS
Yiran Liu, Partner, VISION PLUS CAPITAL
Bin Yue, Founding Partner, GAORONG CAPITAL
Bill Sacher, Partner & Head of Private Credit, New York, ADAMS STREET PARTNERS
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?
Moderated by: Tim Burroughs, Managing Editor, ASIAN VENTURE CAPITAL JOURNAL
Victor Ai, Managing Director, CHINA EVERBRIGHT LIMITED
Stephen Dai, Executive Director, Innovative Consumption & Services Investment Dept., LEGEND HOLDINGS
Fred Fei, Managing Director, SAIC CAPITAL
Sandy Xu, CEO and Founding Managing Director, MYRTUS CAPITAL
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?
Moderated by: Henry Yin, Partner, COOLEY LLP
Eric Chan, Managing Director, JP MORGAN ASSET MANAGEMENT
Esther Wong, Managing Director, SENSETIME
Richard Zhang, Chief Investment and Financing Officer, Full Truck ALLIANCEYES
Leo Zheng, Founder and CEO, LIGHTHOUSE CAPITAL
Jacqueline Zhang, Executive Director, HOPU INVESTMENTS