Programme - Private Equity Leaders' Summit, 13 November
Tim Burroughs, Managing Editor, ASIAN VENTURE CAPITAL JOURNAL
Asian private equity: A new maturity (Joint session with the Venture Capital and Limited Partners’ Summits)
Private equity investment and exits both hit record highs in Asia last year, despite an abundance of capital entering the
asset class, which has driven up competition and valuations. For leading managers at the top end of the market, staying
ahead means increasing product offerings, widening team skillsets, innovative deal sourcing, driving value creation, utilizing
technology in portfolio management, and carefully considering exit options. Our panel will share their tips for achieving
- What are GPs doing to differentiate themselves as the industry matures?
- How are technology trends impacting private equity?
- How is the exit market developing in Asia?
- What are the implications of ever larger pan-regional funds?
Kirk M. Beaton, Partner, LEXINGTON PARTNERS
Nicholas Bloy, Managing Partner, NAVIS CAPITAL PARTNERS
Charles Ong, Co-Chairman and Co-CEO, RRJ GROUP
Bobby Pauly, Partner, TATA OPPORTUNITIES FUND
Yichen Zhang, Founder, Chairman and CEO, CITIC CAPITAL HOLDINGS LIMITED
Data presentation: What LPs can expect going forward? (Joint session with the Venture Capital and Limited Partners’ Summits)
Oliver Gottschalg, Associate Professor, HEC SCHOOL OF MANAGEMENT, PARIS
Networking coffee break
Best practices: Fund structuring and management
Global tax and regulatory developments are forcing private equity firms to look more closely at their choice of fund domicile.
Even though many choose to remain in the Cayman Islands, they are reviewing governance and operational protocols for fear
of doing more than is permitted in a particular jurisdiction and triggering anti-avoidance mechanisms. It is just one of various
threats to conventional thinking on setting up funds. Our experts assess the options for GPs.
- For what reasons would a manager stop using Cayman as a fund domicile?
- How are parallel and feeder structures used to meet the needs of different LPs?
- What are the latest developments regarding BEPS and AIFMD?
- What will the industry look like in five years based on the current policy trajectory?
Lorna Chen, Head of Greater China and Partner, SHEARMAN & STERLING LLP
Kathy Chen, Partner and CFO, SBCVC
Jason Chong, CFO, Asia Pacific, EQT PARTNERS ASIA LIMITED
Markus A. Federle, General Counsel and Head of Group Compliance, SAMENA CAPITAL INVESTMENTS LIMITED
Grace Lee, Partner and CFO, QIMING VENTURE PARTNERS
Threats and opportunities: Future-proofing your portfolio
Technology is redefining industry boundaries and business models, at times playing havoc with investment theses and value
creation strategies. As part of their due diligence and portfolio monitoring, private equity firms must develop capabilities to
assess the potential for disruption in different industries and devise appropriate responses. In this session a diverse group
of industry experts share their views on how private equity firms should address the threats and opportunities presented by
- How is technology factored into initial investment theses?
- In what ways has technology impacted value creation plans?
- What are the talent requirements at the fund and portfolio level?
- Should private equity firms share ideas with venture capital investors?
Paul Ford, Partner, Deal Advisory, Head of Private Equity, KPMG FAS CO., LTD.
Gaurav Ahuja, Managing Director, CHRYSCAPITAL
Edwin Fua, Partner, NAVIS CAPITAL PARTNERS
Shota Kuwaki, Director, CLSA CAPITAL PARTNERS (JAPAN) KK
Chester Moynihan, Managing Director, ALLEGRO FUNDS
Plenary address: Story of an Asian brand that broke USD 1 billion in revenue and a USD 2 billion valuation (Joint session with the Venture Capital and Limited Partners’ Summits)
Ravi Thakran, Chairman and Managing Partner, L CATTERTON ASIA
Networking lunch break
Due diligence: Keeping pace with change
Doing business in Asia can be a complex process and GPs need strong due diligence systems in place to support investment
decisions. In addition to sourcing accurate financial information, operating practices and the people tasked with executing
them must be scrutinized. Companies have arguably never been more vulnerable given the rise in cybercrime. And for some
investors, due diligence is no longer just a pre-investment consideration; it continues, in some form, throughout the holding
- How do you evaluate reputational risk?
- What are the best practices for making valuation assessments?
- What systems can be employed to monitor investments on a continuous basis?
- How have the different risk factors evolved in Asia?
Matt Fish, Partner, OC&C STRATEGY CONSULTANTS
Jaideep Das, Partner, ERM
Kyle Shaw, Founder and Managing Partner, SHAWKWEI & PARTNERS
David Shen, Regional Managing Director, OLYMPUS CAPITAL HOLDINGS ASIA
Andrew Thompson, Head of Private Equity Asia Pacific, Head of Deal Advisory, KPMG
A matter of compliance: Building a strong back office
Private equity firms need to have the systems and processes in place to meet the information needs of stakeholders based
in different geographies and with their own ideas of what constitutes best-in-class reporting. This is particularly important for
GPs that are trying to broaden their LP bases and become more institutionalized, but back office competence is increasingly
regarded as a baseline industry requirement. Our panel of experts consider how the landscape is evolving.
- How are GPs responding to LP demands for clearer and more frequent reporting?
- What back office functions could and should be outsourced?
- Are GPs prepared for sustainability reporting?
- What tools can be used to enhance data gathering, analysis and reporting?
Alex Wilmerding, Partner, PANTHEON VENTURES
Katsuya Baba, Partner, ADVANTAGE PARTNERS
Bonnie Lo, Partner and COO, NEWQUEST CAPITAL PARTNERS
Kapil Kirpalani, Chief Compliance Officer, KKR
Jessie Yan, Director and General Counsel, LUNAR
The debt portion: Getting deal financing
With dry powder at record levels globally and in Asia, valuations are being driven up and leverage is becoming increasingly
prevalent in Asia on regional control buy-outs. As GPs look to enhance returns through recapitalisations and minority backleverage,
how should sponsors go about arranging finance for their deals? A panel of experts will highlight the current trends
and discuss the options and relevant challenges in financing private equity deals in Asia.
- Which markets will be the most active for leveraged buyouts in the next five years?
- What are the sources of capital? How to choose the best option/combination for a deal?
- What challenges do sponsors face in securing financing?
- How to structure your deal to maximize the chance of securing financing?
Rupert Manduke-Curtis, Founder, AMC CAPITAL ADVISORS LTD
Lyndon Hsu, Managing Director, Global Head, Leveraged and Structured Solutions, STANDARD CHARTERED BANK
Rahul Patkar, Managing Director, GOLDMAN SACHS
Edward Tong, Senior Vice President, Head Private Debt Asia, PARTNERS GROUP
Networking coffee break
Asian venture capital: Moving to the next level (Joint session with the Venture Capital and Limited Partners’ Summits)
There is already evidence of differentiation in Asia’s venture capital industry, whether it involves sector specialization, pursuing
distinct early or late-stage strategies, or teams with local agendas spinning out from international firms. But can this conviction
about an approach to investment and the expectation that it will deliver rich deal flow translate into consistent and meaningful
returns? Investors from across the region share their views on how to build a sustainable industry.
- When will Asia’s unicorns deliver on their heady valuations?
- What strategies are being used to achieve rapid scale across multiple markets?
- How do investors make themselves the partner-of-choice for local entrepreneurs?
- In what ways is the quality of start-up founders and teams improving?
James Lu, Partner, COOLEY LLP
Amit Anand, Founding Partner, JUNGLE VENTURES
TC Meenakshisundaram, Founder and Managing Director, CHIRATAE VENTURES INDIA ADVISORS
Shinichi Takamiya, Partner and Chief Strategy Officer, GLOBIS CAPITAL PARTNERS
Steven Wang, Managing and Founding Partner, HIGHLIGHT CAPITAL
The LP view on Asia: Can performance be sustained? (Joint session with the Venture Capital and Limited Partners’ Summits)
As the private equity industry continues to mature in Asia, there is more differentiation in what GPs are trying to do and LPs
have the information to say with greater certainty what works and what does not. Nevertheless, there is general concern about
the amount of capital being raised and whether it can be deployed efficiently in a climate of high valuations. Our panel of
leading investors discuss the role of Asia in their portfolios.
- What are the pros and cons of larger fund sizes in Asia?
- Does the consolidation of LP relationships create space in funds for smaller investors?
- How is technology contributing to investment decision making?
- What about Asian private equity keeps investors awake at night?
Chris Lerner, Partner and Head of Asia, EATON PARTNERS
Camilla Axvi, Head of Private Equity, AP2
Alicia Gregory, Head of Private Equity, MLC
Gregory Jania, Head of Fund Investments, Global Private Equity, APG US ASSET MANAGEMENT
Hideya Sadanaga, Managing Director, Head of Private Equity Investment, JAPAN POST BANK
Korea: Where success has no limit (Joint session with the Venture Capital and Limited Partners’ Summits)
Jinyo (J.Y) Jung, Deputy Director, INVEST KOREA (KOTRA)
Close of summit