Programme - Investment Summit (Day one), 13 November

Private Equity Leaders' Summit | Venture Capital Summit | Limited Partners' Summit | Investment Summit (Day one) | Investment Summit (Day two)


  • Wednesday, 13th November 2019

  • 08:00

    Registration

  • 08:50

    Opening remarks

  • 09:00

    Global private markets: Future echoes

    It’s dangerous to call the top of a market. As the wait for the inevitable downturn continues, private markets remain popular with LPs, enabling managers to raise ever larger funds. The flood of capital into the asset class also has implications for the channels through which investors can participate. Structures and strategies are evolving, offering greater variety in terms of risk, return and investment horizon. Our panellists consider what the present says about the future.

    • What are the biggest late-stage cycle concerns?
    • Which geographies present the most attractive opportunities?
    • How are macroeconomic issues shaping the investment environment?
    • What will characterize the next wave in private markets product innovation?
  • 10:00

    Networking coffee break

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  • 10:20

    Keynote interview

  • 10:50

    Asia buyouts: Maintaining a competitive edge

    A disproportionate amount of the capital allocated to Asian private equity in recent years has ended up with pan-regional managers, but what must these GPs do to stay relevant? LPs have more choice than ever before in terms of where to put their money and some might be comfortable enough to look beyond diversified portfolios of large-ticket bets. Our industry veterans explain how they leverage their resources to the full in a complex investment environment.  

    • How do managers define their investment DNA?
    • What has been the most significant change in the GP-LP relationship?
    • How have approaches to exit planning evolved in recent years?
    • What are the biggest challenges facing the industry?
  • 11:45

    Fireside chat

  • 12:25

    The middle market: What, why and how

    The middle-market has been a consistent performer in Asia, even as the success – and subsequent fundraising prowess – of certain managers has stretched the definition of this space to breaking point. Succession planning situations, corporate carve-outs, and partnerships with founder-entrepreneurs vary by geography, but demonstrating an ability to add value is a common theme. Our diverse collection of panellists drawn from across the region considers the key ingredients to a sustainable middle-market investment strategy.  

    • What is the optimal middle-market fund size for different jurisdictions?
    • How are vendors’ expectations of private equity changing?
    • What are the most challenging aspects of roll-up strategies?
    • How prominently does technology feature in value creation efforts?
  • 13:15

    Networking lunch

  • 14:15

    Track 1: Venture capital: Behind the headlines

    Early-stage exposure to the next generation of ground-breaking technology companies has become a prized commodity in the LP community. At the same time, the market is at risk of saturation as managers raise ever larger funds or introduce additional strategies and valuations reach new highs. It remains to be seen whether recent vintages can match the success of their predecessors. In this session, leading investors discuss how the opportunity set is evolving.

    • To what extent is global venture capital all about the US, China, and Israel?
    • Is there a sizeable gap between mega managers and the rest?
    • Are IPOs allowing start-ups to deliver on their private valuations?
    • What role are strategic investors playing in venture capital?

  • 14:15

    Track 2: The China opportunity: Digging deeper

    Almost every institutional investor has some exposure to China, whether it’s through global, regional and country-specific funds or portfolio companies in other markets selling to and sourcing from Chinese customers. The opportunity is obvious, but the landscape is increasingly complicated: growth is slowing, the institutional infrastructure is immature, relations with the US are fraught, while GPs and investment strategies are often unproven. In this special briefing, a selection of successful domestic managers offer their insights.

    • Is China decoupling from the US in terms of trade, technology and finance?
    • What skills are required to execute buyouts in China and do local managers have them?
    • Can state-owned enterprise reform translate into meaningful PE deal flow?
    • Is every investment essentially a technology investment?
  • 15:00

    Fireside chat

  • 15:30

    Networking coffee break

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  • 16:00

    Track 1: China: Finding the bright spots

    Is now the best time to invest in China? A slowing economy, trade tensions with the US, volatile public markets, and weak consumer sentiment have taken some of the shine off Asia’s largest economy. GPs must decide when, where and at what valuation to reengage. The ability to identify overlooked pockets of growth, drive value through operational involvement, and secure a path to exit have never been more important. Our China experts assess the market.

    • Should LPs be concerned at how much capital is entering technology deals?
    • How important is sector specialization in China?
    • Are there enough buyouts to justify a control investment strategy?
    • Where would you prefer to IPO – China, Hong Kong or the US?
  • 16:00

    Track 2: Distress: Capturing the advantage

    There is renewed interest in distress strategies, largely on the back of two developments. First, the growing pile of non-performing loans held by China’s banks, which has spurred hopes among investors of more portfolio sales. Second, reforms in India have forced a dozen large companies into bankruptcy and forced countless others to consider their options in terms of restructuring. Our panellists give their take on the competitive landscape and how best to crack these markets.

    • What are the main challenges in sourcing distress deals?
    • Where do the opportunities lie globally and across Asia?
    • Does a geographically flexible mandate work better than a single country strategy?
    • What on-the-ground resources are required to be successful?
  • 17:00

    Institutional perspective: How the LP model is changing

    Large Investors continue to push the boundaries of the GP-LP relationship, whether that involves forming strategic partnerships at the fund level or coming into deals as a co-underwriter. Customization is the name of the game and it’s here to stay provided the check sizes continue increasing. Our panel of leading investors share what they want from the asset class, how they plan on getting it, and their ideas for the PE model of the future.

    • Which GP-LP alignment issues are most concerning?
    • Does most favoured nation status still matter?
    • How do you mitigate the risks of increased private markets exposure?
    • What do LPs want from GPs in terms of sustainability, diversity and inclusion?
  • 18:00

    Closing remarks

  • 18:15

    Gala cocktail reception


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  • 19:00

    Gala dinner

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