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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.
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.
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.
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.
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.
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.
A sector expert will sit at each table to lead discussions on trends, opportunities and challenges.
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.