Day 1: Thursday, 21 July 2011
Registration and refreshments
||Opening keynote address: SE Asia through a China lense: How the region stands to benefit from China’s continuing development
Weijian Shan, Group Chairman & CEO, PAG
||Regional roundup: Hot sectors & geographies, trends and trials for PE
A geographically and politically diverse region, Asia presents a wide selection of niches to investors, especially in the two largest economies; China and India:
- Where are the biggest growth capital opportunities around the region? Are they being squeezed by buyout shops at the top end?
- What are the drivers for distressed investments, and where are these deals being seen lately?
- If regional stock markets suffer a correction during 2011, is there enough depth in the PE market for secondary PE investments to create exits for primary investors?
- Is the trend towards larger funds across all segments sustainable? What is the end-game?
Moderated by: Karam Butalia, Executive Chairman, KV ASIA CAPITAL
Peter Amour, CEO, AIF CAPITAL
Grant Kelley, Co-Head of Asia Pacific, APOLLO GLOBAL MANAGEMENT
Ming Lu, Partner, KKR ASIA LIMITED
Networking coffee break
|| Case study: Performing effective change management
Alex Teo, CEO, KING'S SAFETYWEAR
Gerald Chiu, Partner, NAVIS CAPITAL PARTNERS
||Water-buffalo in a China-shop? Opportunities for SE Asian PE fund managers
Will China live up to the prediction of its becoming the world’s biggest PE market by 2020? What seems for sure is that it will continue to grow exponentially - driven more and more by domestic, rather than foreign money. Singapore sits at the junction of China and South-East Asia, making it ideally placed to benefit from China’s labour-rate arbitrage – moving manufacturing facilities to Vietnam – and its continuing voracious appetite for commodities. Largely sourced from Indonesia.
- How is the appreciating Renminbi, and domestic inflation, changing China’s investing landscape?
- What role does Singapore play for China funds and their portfolio companies?
- Where are the outsourcing destinations for Chinese companies? What are they outsourcing, and why?
- Which commodities are in hottest demand by Chinese companies? How can PE play this demand to its investors’ advantage?
Moderated by: Markus Ableitinger, Director, Head Asia Investment Management, CAPITAL DYNAMICS
Kenneth Yeo, Investment Director, ALLIANZ CAPITAL PARTNERS
Yong Kwek Ping, Chief Executive Officer, INVENTIS INVESTMENT HOLDINGS (CHINA) LTD
Finian Tan, Chairman, VICKERS VENTURE PARTNERS
|Incubating and harnessing innovation: VC models and opportunities across Asia
VC in Asia is increasingly moving beyond the “localization” model, towards supporting development of essential emerging technologies in the telecoms, healthcare and energy spaces. Encouraged by government initiatives around the region:
- Is it useful to think of “Tech Venture” (as promoted by governments from Singapore to China) and “Growth Venture” (most India VC) separately, in the Asian context?
- How do these two different elements of the VC community compare in terms of risk and return?
- How do Beijing, KL, Singapore and Taiwan differ in their approaches to innovation? And where are the other important centres?
- What role do university research departments play in incubating new technologies around the region?
- How do LPs view the funding of these emergent technologies?
Moderated by: Yinglan Tan, Head (Projects), NATIONAL RESEARCH FOUNDATION
Peter Chan, Pee Teck, Managing Partner, CREST CAPITAL ASIA
Pierre Hennes, Managing Partner, EXTREAM VENTURES
Manik Arora, Founder & Managing Partner, IDG VENTURES INDIA ADVISORS PVT LTD
Ian Goh, Partner, MATRIX PARTNERS CHINA
Kee Lock Chua, Group President & CEO, VERTEX VENTURE HOLDINGS LTD
Networking coffee break
|ASEAN integration: Accelerating regional growth
In aggregate, the ASEAN region has an economy larger than India’s. With regional free-trade agreements now fully in place will ASEAN countries now see a similar level of interest to that garnered by their northern cousin over the past 3-5 years?
- Why isn’t more PE capital coming into SE Asia?
- Can cross-border M&A help PE drive alpha in the region?
- How are domestic funds faring, compared to their regional and global counterparts?
- Is intra-regional trade driving growth in individual countries? Which countries are the biggest beneficiaries?
Moderated by: Vincent Huang, Partner, PANTHEON
Chye Lin Loh, Managing Partner, AUREOS CAPITAL
Chris Chia, Managing Partner, KENDALL COURT CAPITAL PARTNERS
Andy Ho, Managing Director and Head of Investment, VINACAPITAL INVESTMENT MANAGEMENT LTD
Here be Dragons: Harnessing commodities & GDP growth in the land of the Komodo
According to reports by Transparency International, Indonesia is winning its battle to stamp out official and business-related corruption. An effort backed by popular campaigns in the press and even by graffiti artists. In doing so its reaping the dividend of its youthful population and significant natural resources:
- In which companies is private equity investing, and what are the limitations to investment as a domestic and as a foreign fund?
- What steps is Indonesia’s government taking to encourage FDI?
- Can PE play effectively in the commodities space? How?
- How are companies from around the region competing to service the country’s growing consumer class, and how can PE best help?
Moderated by: Stephen Choi, Senior Vice President, CDIB CAPITAL LIMITED
Veronica Lukito, CEO and Managing Director, ANCORA CAPITAL MANAGEMENT PTE LTD
Patrick Alexander, Managing Director, BATAVIA INVESTMENT MANAGEMENT
Jean-Christophe Marti, Partner, NAVIS CAPITAL PARTNERS
End of day 1
Day 2: Friday, 22 July 2011
||Registration and refreshments
Indian interests – in South-East Asia and beyond
India’s growth continues apace, with Prime Minister Manmohan Singh’s latest Union budget squarely targeting the rural poor and agriculture. Perhaps in homage to the success of Rahul Gandhi – scion to India’s First Family – in mobilizing the rural vote in the most recent elections: What does this mean for the economy though, and India’s globe-spanning industrial elephants?
- What will be the key growth arenas for India over the coming 2-5 years?What part does Singapore play in the flow of commodities from SE Asia to India? And does it have regional competition?
- How is Singapore making itself more attractive as a domicile for funds investing both in SE Asia, and India?
- What are Indian companies’ aspirations in SE Asia and the wider region and the world?
- Can Singapore secure its relationship to India, as Hong Kong has with China?
Moderated by: Harjit Bhatia, Chairman & Chief Executive Officer, ASIA GROWTH CAPITAL ADVISOR (HK) LIMITED
Anuj Kumar, Managing Director, AXIS PRIVATE EQUITY
Shankar Narayanan, Managing Director, THE CARLYLE GROUP
Mukund Krishnaswami, Director, LIGHTHOUSE ADVISORS INDIA PRIVATE LIMITED
Veronica John, Managing Director, SERASI CAPITAL, SINGAPORE
||Networking coffee break
The building blocks of progress: Infrastructure opportunities across the region
India and China are two headline infrastructure opportunities in Asia, but beyond the headline-making high-speed railways being rolled out across China, and the government’s ambitious road-building target across India, there are plenty of other arenas in which the region’s governments are jousting for supremacy:
- How is India tackling its power generation, transmission and distribution challenges, and what is PE’s role in this sector?
- Is PE relevant to the infrastructure space in China? Or is foreign capital swamped out by state funds?
- Where else in the region are national and state governments encouraging the use of foreign capital to build?
- How can institutional money best be invested in these opportunities? And what are the capital-markets parallels for each route?
- What are the headline risks to the sector, both in terms of regulation and capital risks?
Moderated by: Colin Clinton, Director, OVE ARUP & PARTNERS
Anil Ahuja, Head of Asia, 3i ASIA LTD
Joseph W Ferrigno III, Managing Partner, AMCG PARTNERS
Lachmi-Niwas Sadani, Managing Director & CIO - NIIM, NOMURA GROUP
||A sharp exit: Secondary investments and global IPOs
A flurry of exits in Q4 2010 and PR 2011 may have allayed some of LPs concerns about Asian PE, and be part of the reason for the influx of capital the region is seeing. Capital markets in the region have generally been seeing a withdrawal of capital over the same period though, leading some to question the future of IPOs on local and regional exchanges:
Moderated by: Diana Koh, Head, Private Equity Group, KPMG IN SINGAPORE
- How do valuations compare between regional and global exchanges?
- What is the global appetite for Asian IPOs?
- How are Asian PE fund managers preparing their portfolio companies for trade sale?
- How do LPs feel about the growing secondary PE investment trend?
Alexander I. McCloskey, Principal, EMERALD HILL CAPITAL PARTNERS, LTD.
Simon Lim, Director & Head of South East Asia, Listings, Singapore Exchange (SGX)
Institutional Investors’ regional review
LPs have been pumping money into Asian private equity over the back end of 2010 and early 2011, as the region demonstrates remarkable stability following the post-Lehman shock. As part of this, they have funded many established names spinning out from old funds, together with a handful of new entrants:
- What has prompted LPs to accept new-manager risk on top of the much-touted other business and commercial risks they attach to Asia? Or has the risk-premium balanced inverted between Asia and the west?
- Do LPs prefer global, regional, or country-fund-managers for accessing SE Asian markets?
- Where do funds-of-funds fit in this mix? Are LPs becoming more confident in their direct-investing capabilities?
- How do LPs view PE versus the other components of the alternative assets “bucket” ?
- How can institutional investors successfully execute more direct and co-investments, without building GP-sized teams? And does this create conflict with their GPs?
Moderated by: Suvir Varma, Partner, BAIN AND COMPANY
Mayukh Mitter, Managing Director, Direct Investments Group, GIC SPECIAL INVESTMENTS
Saki Georgiadis, Principal, HERMES GPE
Kelvin Chan, Managing Director, PARTNERS GROUP (SINGAPORE) PTE. LTD.