HKVCA Private Equity Fundamentals Course 2019 - Module 2
Date: Wednesday, 18 September 2019
Venue: B4, The HKU Town Centre, 3/F, Admiralty Centre, HK
Time: 14:00 to 17:55
 | | Organized annually, the HKVCA’s Private Equity Fundamentals Course comprises seven tailormade modules and a case study session to provide participants with in-depth information and analysis of private equity and venture capital, either as industry entrants or for those seeking to refresh their skill sets. Covering the entire fund-raising process from strategy to distribution of returns, data on global funds and investment activity, current issues and fund marketing, it is particularly relevant for those practitioners keen to expand their technical ability and know-how. Delivered by leading industry specialists and experts with experience in different fund strategies, marketing, deal making, and the pros and cons of investing in private equity as an asset class, each module will be taught relative to real case studies to show how investors finance through the different stages of a company’s lifecycle, and explain financing as financial intermediaries practice it. The course also includes a curated section devoted specifically to ESG investing, which plays an increasingly important role in determining the future financial performance of companies and their risk and return. | | Date | Time | Session | Venue | CPT/CPD | | | Sept 10 (Tue) | 10:00 – 13:30 | Module 1: PE Basics | HKU MBA Centre | 3 | | | Sept 18 (Wed) | 14:00 – 17:55 | Module 2: Early Stage Investment | HKU MBA Centre | 3 | | Sept 26 (Thur) | 14:00 – 16:30 | Module 3: The Investment Decision | CUHK MBA Centre | 2 | | Oct 10 (Thur) | 14:00 – 17:20 | Module 4: Valuation / ESG / “High Level” Tax Issues | CUHK MBA Centre | 3 | | Oct 15 (Tue) | 14:00 – 17:05 | Module 5: Transaction Documentation | HKUST Business School | 2.5 | | Oct 22 (Tue) | 14:00 – 17:15 | Module 6: Post Investment | CUHK MBA Centre | 3 | | Nov 8 (Fri) | 11:00 – 14:30 | Module 7: Tax / Fundraising | KPMG Office | 3 | | Nov 12 (Tue) | 14:00 – 17:15 | Case Studies: CVC / HKBN & Pacific Coffee | HKUST Business School | 3 | | | | | | | | Venue: | | | The University of Hong Kong (HKU) MBA Centre: B2, The HKU Town Centre, 3/F, Admiralty Centre, HK (Sept 10) | | | The University of Hong Kong (HKU) MBA Centre: B4, The HKU Town Centre, 3/F, Admiralty Centre, HK (Sept 18) | | | Hong Kong University of Science and Technology (HKUST) Business School: 15/F, HK Club Building, Central, HK | | | The Chinese University of Hong Kong (CUHK) MBA Centre: Diamond Room, Unit B, 1/F, Bank Of America Tower, 12 Harcourt Road, Central, HK | | | KPMG Office: 8th Floor, Prince’s Building, 10 Chater Road, Central, HK | | | | | | REGISTER NOW Register in a group of 2 or more from the same company and enjoy a 10% discount. | | HKVCA Member | Non-Member | | Per Module | HK$1,400 | HK$3,000 | | Case Studies | HK$1,400 | HK$3,000 | | All 8 Sessions | HK$8,960 HK$11,200 (20% off) | HK$19,200 HK$24,000 (20% off) | |
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CPT and CPD points can be claimed after attending each session. Participants who would like to claim CPD points have to update their Mandatory CPD Training Records with the CPD points for the course.
Certificates will be granted upon completion of each session. Cancellations must be made in writing at least 7 working days prior to the event. No refund will be made thereafter.
Registrations cancelled will receive a refund, minus a HK$300 cancellation processing fee. | | Module 7 sponsored by |  | | | 
| | | Module 2: Early Stage Investment | 18 September (Wed)
14:00-17:55 | HKU MBA Centre | | | | - Introduction and Overview of Early Stage Investment
- How Investors Screen Deals: The Selection Process and Criteria
- The Valuation of Early Stage Investment
| Gordon Yen
Founding Managing Partner,
Radiant Tech Ventures | | 14:00 – 15:15 | | | | 15:25 – 16:10 | Negotiation and Term Sheets | John E. (Jack) Lange
Partner,
Paul, Weiss Betty Yap
Managing Partner,
Paul, Weiss | | 16:10 – 17:55 | - Post Investment and Exit
- Entrepreneurship: What Makes a Successful Entrepreneur?
| K O Chia
Director,
Grace Financial | | Module 3: The Investment Decision –
Due Diligence Pricing and Structure | 26 September (Thu)
14:00-16:30 | CUHK MBA Centre | | | | Deal Sourcing/ Preliminary Assessment of a Potential Deal - Right management?
- Right industry?
- Right company?
Investment Committee Proposal
Due Diligence - Financial, legal and operational
- Due diligence procedures
| Ivan Chan
Executive Director,
Morgan Stanley | | 14:00 – 15:10 | | | | 15:30 – 16:30 | Deal Financing - Equity finance for acquisition vehicles
- Debt finance for acquisition vehicles
| Michael Prahl
Partner,
Asia-IO Advisors | | | Module 4: Valuation / ESG / “High Level” Tax Issues | 10 October (Thu)
14:00-17:20 | CUHK MBA Centre | | | 14:00 – 15:00 | Valuation Issues | Robert Kwok
Partner,
Transaction Advisory Services,
Ernst & Young | | 15:00 – 16:00 | ESG | Alvin Lam
Principal,
CVC Capital Partners | | 16:20 – 17:20 | “High Level” Tax Issues | Patrick Yip
Vice Chair,
Deloitte China | | | Module 5: Transaction Documentation | 15 October (Tue)
14:00-17:05 | HKUST Business School | | | 14:00 – 14:55 | Deal Protection and Risk Allocation Issues - Protecting the deal via exclusivity arrangements and break / termination fees
- Allocating risk via warranties, indemnities, disclosures and other contract provisions
| Simon Cooke
Partner,
Latham & Watkins
(Hong Kong) | | 15:05 – 16:00 | Non-leveraged Transactions/VC Transactions - Term sheet
- Articles of association of target company: terms of shares/anti-dilution issues/transfer procedures
- Investment/subscription agreement and shareholders agreement: information rights, board representation, investor protection covenants
- Management carrots and sticks: milestones, ratchets, options, warrants, terms of service agreements/non-competes
- Other documents
USD plus RMB funds – “dual” funds | Rocky Lee
International Partner,
King & Wood Mallesons
Helen Huang
Co-Chief Executive,
Hong Kong,
King & Wood Mallesons | | 16:10 – 17:05 | Buyouts - Term sheet
- Acquisition agreement
- Other documents
- Financial and security documentation
| Matthew Puhar
Partner,
Akin Gump Strauss
Hauer & Feld
Naomi Moore
Partner,
Akin Gump Strauss
Hauer & Feld | | | Module 6: Post Investment | 22 October (Tue)
14:00-17:15 | CUHK MBA Centre | | | 14:00 – 15:30 | Management of Portfolio Companies - Aligning interests of investors and management
- Value creation
- Corporate governance
- Monitoring reports
- Board/shareholders’ meetings
| John Levack
Vice Chairman,
HKVCA | | 15:45 – 17:15 | Exit Strategies - How to prepare for exits
- IPOs
- Secondary buyouts
- Trade sales
| Michael Chan
Senior Vice President, Marketing Development Division,
HKEX Bonnie Lo
Partner & COO,
NewQuest Capital Partners | | | Module 7: Tax / Fundraising | 8 November (Fri)
11:00-14:30 | KPMG Office | | | 11:00 – 11:30 | Understanding the Accounting of Private Equity Funds | Arion Yiu
Partner,
KPMG | | 11:30 – 12:15 | Fundraising (Part 1) - Fundraising environment
- Why LPs invest in private equity
- Types of LPs that invest in PE funds
| Dennis Kwan
Managing Director,
MVision Private Equity Advisers | | 12:45 – 13:30 | Fundraising (Part 2) - What LPs expect of GPs
- How to approach LPs
| Jonathan Lee
Director,
MVision Private Equity Advisers | | 13:30 – 14:30 | Tax Considerations in Structuring PE Funds | Malcolm Prebble
Partner,
KPMG China | | | | | 14:00 – 15:30 | CVC / Hong Kong Broadband - From MBO to IPO in < 3 Years | Alvin Lam
Principal,
CVC Capital Partners NiQ Lai
Co-Founder & CEO,
Hong Kong Broadband Network Limited Roger King
Adjunct Professor of Finance, HKUST Winnie Peng
Associate Director,
Tanoto Center for Asian Family Business and Entrepreneurship Studies, HKUST | | 15:45 – 17:15 | Pacific Coffee – Evolution of Business through PE Investment Rounds | Roger King
Adjunct Professor of Finance, HKUST Winnie Peng
Associate Director,
Tanoto Center for Asian Family Business and Entrepreneurship Studies, HKUST Oscar Chow
Managing Director,
Polaris Holdings | | | | Notes
1. Registration must be followed by payment to secure your place.
2. Registration will be confirmed upon receipt of payment.
3. Should you require an invoice, please contact us.
4. Cancellation must be made in writing at least 7 working days prior to the event. No refund will be made thereafter.
5. Information is subject to change. The HKVCA retains the right to make changes as it deems necessary.
6. Priority will be given to HKVCA Members.
7. No shows will be charged.
8. Seats are limited at first-come-first-served basis.
9. An additional charge may apply to accommodate special dietary requests.
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