HKVCA Email Newsletter

HKVCA Journal

The HKVCA is proud to have published the inaugural issue of our research journal. Among the topics covered in this first issue are the various strategies being used to take advantage of opportunities in cross-border M&A, in direct secondaries and in nexus oil and gas deals.

We are grateful as well to the Emerging Markets Private Equity Association for providing us with a snapshot of the state of Asia private equity, which compliments the focused discussion on the opportunities emerging outside Mainland China and the growth of crowdfunding as an innovative alternative funding route.

Finally, our inaugural issue offers various technical insights into Asian fund formation in the light of tightening regulations in private equity worldwide. In particular, we discuss the HKVCA's efforts working with the Hong Kong Government on tax reforms highly relevant to private equity general partners and funds.

We would like to express our gratitude to all members who contributed to this inaugural issue of the Journal, and to Messrs. T.K. Chiang and Joseph Ferrigno for their work as editors. We hope that this and the Journal issues to come will prove to be useful platforms for the sharing of HKVCA members’ stories and ideas, and that they may inspire investors and members of the private equity community worldwide.

You may download the inaugural HKVCA Journal by clicking on this link.

Upcoming Events

Sponsored by:

Date:	January 9, 2015 (Fri)
Time:	08:00 - 09:00
Venue:	Victoria Suite, Hong Kong Club, 1 Jackson Road, Central, Hong Kong (Hosted by Mr Johnny Chan. On Behalf of HKVCA)
Fee:	Full Member (Corporate): One free pass per company
	Full Member (Additional pass)/ Associate Member: HK$250 Members Only Event

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Date:	January 21, 2015 (Wed)
Time:	08:30 - 17:30 followed by cocktail reception
Venue:	S221, Hong Kong Convention and Exhibition Centre
CPT:	6.5 points

Full speakers list can be viewed here

Full programme can be viewed here

Sponsors list can be viewed here

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Gala Dinner Cocktail Sponsor:

Date:	January 20, 2015 (Tue)
Time:	18:30 - 21:30
Venue:	Hong Kong Country Club
	Members Only Event

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Co-hosted event

Date:	January 22, 2015 (Thurs)
Time:	10:30 - 16:00 followed by cocktail reception
Venue:	Offices of Debevoise & Plimpton, 21/F AIA Central 1 Connaught Road Central Hong Kong
Fee:	HKVCA and EMPEA Member: complimentary General registration: US$465 per person

View the preliminary agenda

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Co-organized Event

Asian Financial Forum 2015

AFF Deal Flow

Jointly organized with the Hong Kong Venture Capital and Private Equity Association (HKVCA), over 720 companies have taken part in this deal-sourcing and matchmaking session over the years, including investment project owners, corporate investors, high net-worth individuals, and senior professionals from intermediaries and professional services providers.

Building on previous success, AFF Deal Flow in 2015 will be extended to a full-day programme. In addition to the one-on-one business matching meetings, sector-specific presentation sessions by project owners, as well as a dedicated networking areas with thematic roundtables will be newly launched to facilitate more industry exchange and business discussions.

Standard Fee:	US$1,100 / HK$8,600
Special Discount for HKVCA members:	US$660 / HK$5,160 Applicable to registration with code MHKA104

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Date:	April 24, 2015 (Fri)
Time:	Check in and breakfast: 7:15 am Shortgun Start: 8:15 am
Venue:	The Hong Kong Golf Club (Fanling), No. 1 Fan Kam Road, Sheung Shui, New Territories
Fee*:	HKVCA Member: $2,900 Non-member: $3,700 *Fee inclusive of golf cart, light breakfast and lunch

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Save the Date

Date:	March 13, 2015 (Fri)
Time:	14:30 - 18:00
CPT:	3.5 points

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Save the Date

Date:	June 1, 2015 (Mon)
Time:	08:30 - 17:30 followed by cocktail reception
Venue:	N201, Hong Kong Convention and Exhibition Centre
CPT:	6.5 points

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Other Supporting Events:

SuperInvestor Asia 2015
2-4 Feb 2015

The 5th Annual SuperReturn China 2015
23-25 March 2015

...

New Members Welcome

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Full Member

North Head Partners

North Head Partners is an M&A advisory and fund management company based in Hong Kong, with a seasoned professional team. Its scope of business covers investment banking, PE M&A, finance solutions and structured asset finance.

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Associate Member

Toppan Vite Limited

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Advocacy and Consultation

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Recent Events Report

Brownbag Luncheon - Embracing O2O with leading edge Chinese Innovation
4 December 2014

At a brownbag luncheon on Thursday, December 4th, Serge Hoffmann of Bain & Company gave a presentation to 22 members on the current key e-commerce trends in China. Among the topics addressed were the options traditional offline players have to invest and build their omni-channel capabilities, ways to leverage digital tools so as to increase engagement with end customers and the trends and opportunities to enhance the online ecosystem.

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Masterclass - Investment Workshop on Education Markets
10 December 2014

On 10th December, Amit Garga and Karan Khemka, partners at
The Parthenon Group, offered their expertise to an audience of 50 members at an HKVCA Masterclass on how to execute successful investment strategies in the education sector. They also discussed the unique opportunities that are present in China’s education market. The class was comprised of case studies involving a number of actual successful education deals, with some key takeaways that included identification of the drivers of value creation, the benefits and challenges of investing in education, and which specific segments in the China market are most attractive.

We would like to thank
The Parthenon Group for their sponsorship of this important event.

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HKVCA Christmas Cocktail 2014
12 December 2014

On the evening of Friday, December 12th the HKVCA held its Christmas cocktails party on the 27th floor of Club Lusitano. More than 80 people from all sectors of the industry attended this much loved annual event. We would like to offer our special thanks to Dr Alfred Cheung who spoke on the subject of "Cool Logistics Opportunities in China". Thanks also to our Venture Committee and especially to our cocktail sponsors, Dr. Alfred Cheung, Teresa Ng and Patrick Lim from APTTPA and Simon Mak from Ascent Partners.

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Research Corner

HKVCA Members are encouraged to support the EMPEA's FundLink

For more details, please find here http://empea.org/research/data-and-statistics/fundlink/

Deadline is January 13.

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Industry News

HKVCA Submits Comments to the FSTB on Offshore Funds Tax Exemption

Fri, Dec 12, 2014

HKVCA lodged a submission to the FSTB's Consultation on Offshore Funds Tax Exemption.

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Tsinghua University PE unit acquires Hong Kong private jet business
Fri, Nov 28, 2014

(AVCJ by Winnie Liu) - Tsinghua Holdings Capital, a private equity fund ultimately controlled by an investment arm of Beijing's Tsinghua University, has acquired Hong Kong-based private jet company Sino Jet Management.

Financial terms were not disclosed. This is Tsinghua Holdings' second acquisition in business aviation services space after it bought a controlling stake in Beijing Bear Jet Aviation last year.

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HKVCA Submits Comments to the HKEx on Weighted Voting Rights
Fri, Nov 28, 2014

The HKVCA submitted its comments on the HKEx's consultation on Weighted Voting Rights (WVR).

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Wiser Capital Management acquires majority stake in Kong Shum Union Property
Thurs, Nov 27, 2014

(HKVCA) Hong Kong based private equity firm Wiser Capital Management acquired a controlling stake of GEM listed Kong Shum Union Property Management (Stock Code:8181), valuing the professional property management company at HK$245 million. Existing shareholders - the Ho family - totally divested 300 million shares, or 75% ownership, to Wiser Capital for HK$184 million.

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Emerald Hill North Asia head to set up China fund-of-funds
Wed, Nov 26, 2014

(AVCJ by Allen Lee) - Tommy Yip, partner and head of North Asia at Emerald Hill Capital Partners, has resigned from his position. He is expected to form a new China-focused fund-of-funds.

According to sources familiar with the situation, Yip's partner in his new venture will be Low Kah-Fai, executive director of Eagle Asia Partners, another Asia-focused fund-of-funds. The venture will be backed by an unnamed strategic investor and back funds investing in China's "new economy," notably technology, media and telecom and also healthcare.

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