Programme Day 2
Day 1 | Day 2
Registration and refreshments
Fireside chat: The evolution of the LP-GP relationship
The rise of family businesses and conglomerates in the ASEAN private markets narrative
Southeast Asia’s fragmentation, its various economies at wildly different stages of development, and its relatively underdeveloped private equity ecosystem, come part and parcel with other difficulties for investors – especially from outside the region. They may find it hard to avoid partnering with, or competing against, very well-supported entities connected to local corporates. As family businesses and conglomerates look to shift focus from their traditional areas of investment, such as manufacturing and property, to more disruptive and tech-enabled businesses – through the establishment of corporate VC arms, special funds, or balance sheet investment – they have definitely announced their presence in the private equity and venture capital ecosystem.
- What has been the driver for change in investment theses, and how are deals being executed and managed?
- How can family businesses and conglomerates add value in addition to investment?
- Is the platform approach helping or hindering?
- Can collaboration exist with private equity over deal sourcing?
Networking coffee break
Cross border M&A in the era of protectionism
Despite the global political and trade challenges, cross-border deals continue to be on the rise in Southeast Asia. Local companies that have found success domestically are looking for overseas growth opportunities as they look to expand and spread their business risk across a number of geographies and economies. Inbound investors are attracted by the solid macro and consumer landscape, and the opportunity to utilise their expertise and connections to propel local businesses into bigger and better entities. A panel of experts will discuss the following topics and how the region can prosper:
- How to manage the rise of political and macro risks?
- What are the dynamics in the marketplace, and what is driving cross-border deals?
- How can private equity play a role as a partner to strategic investors?
- What geographies and sectors are proving to be the most attractive?
Women in alternatives
In the alternative assets industry, women are underrepresented – much more than in many other industries. Although Asia (China, HK, and Singapore in particular) ranks slightly better than North America and Europe in many asset categories, there is still plenty of work that can be done to increase the number of women in the industry – especially as investment professionals. Our diverse panel will showcase the different roles women play within their organisations, and the opportunity set available.
- What is the current landscape for women in the alternative assets industry?
- Why do women continue to be under-represented at senior levels in the industry?
- Do funds promote gender diversity on portfolio company boards?
- When and how should the industry be encouraging more women to look at venture capital as a career path?
- When putting together a diversified portfolio, do firms actively look to have portfolio companies with women founders?
LPs’ views on Southeast Asia and beyond
For many institutional investors, Southeast Asia remains a niche market, either too small or too risky for a dedicated allocation. Deal flow is driven by large, usually intermediate, transactions that are contested between the flagship Asia funds. The collection of markets with different regulatory and cultural barriers – populated by company founders who are not wholly familiar with private equity – adds to the complexity of the region for LPs. However, SEA is becoming more attractive because of the growth of experience in the market and the establishment of a stable of talented managers in recent years. A panel of international LPs will debate this compelling market, their cases for committing capital, and where they place the region on the risk and reward scale.
- To what extent do macro, political, and regulatory challenges in the region effect LPs’ appetite for the region?
- How best to navigate the fragmented regional markets? Which are the most interesting sectors, regions, and strategies?
- Is Southeast Asia only viable when viewed as one investment destination, or do LPs investigate specific countries?
- How should you evaluate new fund managers?