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Given how sentiment withered as 2018 wore on, it comes as little surprise that 2019 has thus far been characterized by uncertainty. Concerns about the macro climate, high valuations, and unclear paths to exit are primarily to blame. GPs want to be sure their thesis is watertight before pulling the trigger, which means more time spent on due diligence and value creation plans. Our panel of top investors assess the current state of the market.
Cloud computing and advancements in connectivity allow businesses to perform functions that were facets of science fiction just a few years ago. These changes have also created a swath of data management challenges, including system breaches and information theft. The potential consequences at fund or portfolio company level – such as willfully misdirected drawdown notices or loss of intellectual property – are wide-ranging. In this session, a group of experts explain how they manage cybersecurity.
The role of the CFO/COO has evolved in tandem with the private equity industry itself. Whether it involves the addition of new strategies, addressing more complex regulatory environments, taking advantage of technology and financial innovation, or meeting demanding reporting requirements, staying ahead of the curve is a challenge. This panel discusses how firms develop the people, processes and skillsets to be best in class at both the GP and portfolio company levels.
Many private equity firms have been relatively slow in implementing technology to advance their own businesses. For administration and back office functions alone, a wealth of resources is now available that take the capture of information to a new level, as well as facilitating communication with LPs. On the deal side, data can play a transformational role in sourcing, due diligence and value creation. Our experts chart the progress being made in this area.
Investors have more information at their disposal than ever before, but how do they identify actionable data amidst the white noise? Knowing what to look for doesn’t just stop a private equity firm from backing the wrong thesis or entrepreneur, it can turn a good investment into a great one by offering insights into what can be done to maximize value post-acquisition. Our panellists explain what they do to understand to really understand businesses.
Never before has so much been expected during the fund administration and formation process. From selecting a domicile, regulatory reporting requirements, to staying ahead of technological and product progression. For service providers, the complexity is in achieving the goal of structuring the most efficient and effective fund vehicles in the most appropriate jurisdictions for GPs and their investors. In this session, a panel of experts reviews the prevailing trends across fund set-up and administration and how to manage the needs of a diverse LP base.
Levels of development vary markedly across Asia’s venture capital markets, but all are to some extent benefiting from growing investor interest – domestic and international, high net worth and institutional – in the asset class. The combination of maturity and the scope to participate at more points along the value chain as start-ups stay under private ownership for longer is encouraging diversification in strategy and skillsets. Investors operating in different markets share their tips for success.
Asian investors have become a mainstay of the alternatives space. Those with more advanced programmes have built up strong in-house skills and become active co-investors, with direct investment the next priority in select areas. For more recent arrivals, the challenge is choosing where and with whom to allocate capital, always conscious of j-curve mitigation. Our panellists explain how their approaches are evolving and what managers must do to win favour from Asia.