Programme Day 2
Registration and refreshments
The reality of Chinese outbound investment
Due to the China-US trade war and the tighten up of regulatory reviews to Chinese investment last year, Chinese buyers have diversified investments into other regions. European nations, from infrastructure investments in CEE to high tech companies in the Nordics, have received strong interests from Chinese investors. More investors are venturing to other markets in Asia and emerging economies, where they see opportunities to scale up and synergies with the Chinese government’s initiatives. Seasoned professionals uncover the real picture on outbound investment and predict the outlook.
- Where are deals being seen? China-US vs China-Europe vs China-Asia?
- What deals are still going through? How are these deals structured?
- What are the new sectors and destinations that Chinese investors favour?
- Why is private equity a natural partner for corporates in making outbound acquisitions?
Moderated by: Daisy Shen, Partner, Deal Advisory, KPMG CHINA
Eddie Chen, Managing Director and Head of China & Asia, EURAZEO S.E.
Khaled Ben Jilani, Senior Partner and a Member of the ExCom, AFRICINVEST
David Lin, Managing Director, PRIMAVERA CAPITAL
Jeffrey Wang, Partner and Managing Director, BDA PARTNERS
Xiaolin Zheng, Strategic Investment Director, JD.COM
Exit conundrum: Finding liquidity
Private equity investors are under pressure to generate returns – or at least show paths to liquidity. Despite stock market volatility, the CSRC has promised to accelerate IPO approval and the establishment of the “technology innovation board” by the Shanghai stock exchange. Trade sales are becoming more viable as valuations fall, with ample opportunities for restructuring. Our panellists consider each option and predict the exit outlook for 2019.
- Which exit routes proved most fruitful in 2018?
- How do the region’s capital markets compare? Will new CSRC initiatives reopen local IPO markets for exits?
- How is the secondaries market developing in China?
- Despite incentives on domestic IPO, is it an exit route of choice?
Moderated by: Weichou Su, Partner and Head of Asia, STEPSTONE GROUP
Will Chen, Founding Managing Partner, CLEARVUE PARTNERS
Sean Fan, Managing Director, GOLDMAN SACHS
JP Gan, Managing Partner, QIMING VENTURE PARTNERS
Min Lin, Partner, NEWQUEST
Lin Wang, Founding Partner, CDH INVESTMENTS
Global Limited Partners’ views on China
Despite concerns over the trade war with the US, slumping economic indicators and unrealised returns, China remains Asian private equity’s most important market. With billions invested, a bevy of unicorns, and a growing middle class of 440 million consumers, China should remain part of any diversified private equity portfolio. A panel of global LPs discuss:
- How does China compare with other markets in a global PE portfolio?
- What strategies are of interest to LPs?
- What are LPs expecting from GPs in the current low-growth climate, and what are the major challenges in GP selection?
- How are foreign LPs viewing about co-investments in China?
Moderated by: Chris Lerner, Partner and Head of Asia, EATON PARTNERS
Clare Bai, Managing Director, Private Equity Investment Department, CHINA INVESTMENT CORPORATION
Edward J. Grefenstette, President/CEO and Chief Investment Officer, THE DIETRICH FOUNDATION
Peter Keehn, Global Head of Private Equity, ALLSTATE INVESTMENTS
Ralph Keitel, Principal Investment Officer and Regional Lead East Asia, Private Equity Funds, INTERNATIONAL FINANCE CORPORATION
Networking lunch and end of conference