The 15th China Private Equity Summit, organized by the Hong Kong Venture Capital and Private Equity Association (HKVCA), took place on May 30, 2016. Attracting more than 500 venture capital and private equity practitioners, leading corporations, and other industry professionals and participants from across the region, the Summit discussions focused on the latest developments and trends in the private equity market in China.
Held at the Hong Kong Convention and Exhibition Centre, distinguished guests at this one-day event included: Professor K C Chan, Secretary for Financial Services and the Treasury of the Hong Kong SAR Government; Lei Zhang, Chairman & CEO, Hillhouse Capital Management Group; Fritz Demopoulos, CEO, Queen’s Road Capital; and Frank Tang, CEO & Managing Partner, FountainVest Partners.
The Summit explored a number of important and timely issues, including how GPs and LPs see the changes in the China market; the opportunities and challenges for PE investors in terms of financial market reform and liberalization of cross-border transactions; Chinese overseas investment; the regulatory and taxation environment; privatizations and backdoor listings; whether TMT venture capital investment is exhibiting evidence of being in a bubble; and the opportunities that may arise from SOE reforms.
We would like to thank our extremely knowledgeable audience of attendees who came from across the Asia region, making this year’s Summit a most profitable and valuable networking opportunity for participants. Thank you also to our media partners and supporting organizations. Finally, the HKVCA would like to express our sincere thanks to our sponsors, whose substantial contributions and support made the event not only possible, but indeed an unprecedented success.
- More photos can be viewed here.
- Video highlights can be viewed here.
- Media coverage can be viewed here.
- Professor KC Chan's speech can be viewed here. | | _ | | Limited Seats Available | | | | Sponsored by
. | .gif)  | | We will be holding our only wine tasting event of the year on June 13, 2016. While previously we have organized two such events annually, this year we are breaking with tradition and holding one very special wine tasting event that we are sure our members will want to attend. Don’t miss the only opportunity to join your colleagues and fellow members at what will certainly be a most memorable “evening of wine”. | | Theme: A saucy affair... | | | Chateau Grand Mayne, Saint-Emilion Grand Cru, 1998
Louis Latour Hospices de Beaune, Beaune 1er Cru "Brunet", 2011
Cos d'Estournel Blanc 2012
Torbreck Steading 2012
Trimbach Reserve Riesling 2013
Albert Grivault Meursault 2010 | | | | Date: | 13 June, 2016 (Mon) | | Time: | 18:30 - 20:30 | | Venue: | Harcourt Suite, Hong Kong Club, 1 Jackson Road, | | Central, Hong Kong | | (Room reserved and hosted by the name of Mr. Marcus Thompson) | | Fee: | HKVCA Member: HK$680 per person | | Non Member: HK$1,200 per person | | | Priority is given to HKVCA members. | | . | | Instructed by Debra Meiburg, Master of Wine | | | Complete the survey and enjoy 5% off! | | | As part of our ongoing efforts to better serve you, we are conducting a specially focused survey to determine our members’ thoughts and opinions on our wine tasting events. We truly appreciate your feedback and hope that you will take a few moments to complete the short survey by clicking on the link immediately below. | 
 
| | HKVCA Members Event |  | | HKVCA Members Monthly Breakfast Meeting - July | | | | Sponsored by |  | | | | Date: | 8 July, 2016 (Fri) | | Time: | 8:00 - 9:00 | | Venue: | Victoria Suite, Hong Kong Club, 1 Jackson Road, Central, HK | | (Room reserved under the name of Mr. Johnny Chan) | | Fee*: | Full Member (Corporate): one free pass per company | | *Note, free pass no shows will be charged full price | | Associate member/ Full Member (additional pass): HK$280 | | *An additional charge may apply to accommodate special dietary requests. | | *There will be no breakfast meetings in Aug and Sept | |
|  | | HKVCA Luncheon Talk: Cyber Security Threats to Private Equity | | | | Sponsored by | .png) | | | | Speaker: | Ben Wootliff, Partner, Control Risks | | Date: | 5 July, 2016 (Tues) | | Time: | 12:15 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, | | Bank Street, Central, Hong Kong | | Fee*: | Full Member (Corporate): one free pass per company | | *Note, free pass no shows will be charged full price | | Full Member (Additional Pass)/ Associate Member: | | HK$450 per person | | Non Member: HK$800 per person | | *An additional charge may apply to accommodate special dietary requests | | CPT: | 1 point | |
| | | HKVCA Luncheon Talk: Managing ESG from a GP’s Perspective | | | | Sponsored by |  | | | | Speakers: | Joseph Wan, Operating Partner, Cinven HK Limited | | Alvin Lam, Senior Managing Director, CVC Capital Partners | | Date: | 11 July, 2016 (Mon) | | Time: | 12:15 - 14:00 | | Venue: | The China Club, 14/F, The Old Bank of China Building, | | Bank Street, Central, Hong Kong | | Fee*: | Full Member (Corporate): one free pass per company | | *Note, free pass no shows will be charged full price | | Full Member (Additional Pass)/ Associate Member: | | HK$450 per person | | Non Member: HK$800 per person | | *An additional charge may apply to accommodate special dietary requests | | CPT: | 1 point | |
| | Members Only Event | 
| Date: | 22 August, 2016 (Mon) | | Time: | 12:00 - 12:30 AGM | | 12:30 - 14:00 Luncheon | | Venue: | The China Club, 14/F, The Old Bank of China Building, | | Bank Street, Central, Hong Kong | | Fee*: | Full Member (Corporate): one free pass per company | | *Note, free pass no shows will be charged full price | | Full Member (Additional Pass)/ Associate Member/ Overseas Member/ Individual Full Member: | | HK$450 per person | |
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This comprehensive training course is designed for those wishing to increase their knowledge of core fundamentals of private equity and venture capital. The course also refreshes and upgrades the skill set of professionals in the industry.
The modules are led by highly experienced, leading industry practitioners and experts who have unparalleled experience in deal-making, structuring, value-creation in companies, and exits. Instructors will draw on actual, real cases to illustrate and share lessons learned through trial and error over the years.
The course provides in-depth technical and practical know how on venture capital and private equity.
| | *Topics include: | | | | September 21 (Wed) | - Early Stage Investment | | September 21 (Wed) | - Module 1: PE Basics | | September 23 (Fri) | - Module 2: The Investment Decision | | September 30 (Fri) | - Module 3: Transaction Documentation | | October 5 (Wed) | - Module 4: Post Investment | | October 7 (Fri) | - Module 5: ESG/ LP Universe/ Fundraising | | October 7 (Fri) | - Case Study: Pacific Coffee | | October 7 (Fri) | - Case Study: CVC/ HKBN | | | | CPT: 3 points for Module 1-4, 2.5 points for Module 5 and 1.5 points per case study | | | | *The above information is subject to change until final confirmation. | | | Group Discount: | | Register in a group of 2 or above within the same company can enjoy 10% off discount. | |
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HKVCA Supporting Events:
EmTech Hong Kong
7-8 June 2016
LendIt China 2016
12-19 July 2016
AVCJ ESG Forum 2016
9 September 2016 | | | . | |
New Members Welcome
Corporate Full Members
Acuie & Co.
Caldera Pacific (Hong Kong) Ltd
Caldera Pacific Ventures provides growth capital to early-stage companies in Asia Pacific. Caldera aspires to be the partner of choice for high quality companies that seek long-term capital to execute a growth strategy. Through active involvement, Caldera works with management teams to develop their businesses, implement strategies and adapt to inevitable market changes. Caldera invests primarily in financial services, finTech, Information technology and consumer goods.
Eastspring Investments (Hong Kong) Ltd
Eastspring Investments is a leading Asia-based asset manager and manages investments on behalf of institutional and retail clients. As the Asian asset management business of Prudential plc., an international financial services group, it has one of the widest footprints across the continent and are committed to delivering high quality investment outcomes for clients over the long-term. It provides investment solutions across a range of asset classes including equities, fixed income, multi asset, infrastructure and alternatives.
Fountainhead Partners Company Ltd
Fountainhead Partners is a Hong Kong-based multi-family office, founded by a group of industry veterans and a few families and institutional investor. Fountainhead strives to be the elite force in advising top families and entrepreneurs. We are transparent, focused, efficient and with full interest alignment. We believe wealth is the product of our capacity to think. Therefore, we want to work with the brightest minds in all disciplines.
Greenwoods Investment Management
Greenwoods PE is the private equity manager under the Greenwoods platform. Inheriting Greenwoods’ philosophy of value investing and leveraging the robust resources of the overall platform, Greenwoods PE focuses on healthcare, consumer and services, TMT (IT, Media and Telecom) and advanced manufacturing investment opportunities.
Silver Spring Capital Management Ltd
Silver Spring Capital Management is an alternative investment provider, with a focus on private equity and corporate investment services. Our business strategy centers on rapidly growing cross border trade and investment activities between India, China, Africa and ASEAN in the infrastructure space.
Corporate Associate Members
Houlihan Lokey
Houlihan Lokey is a global investment bank with expertise in mergers and acquisitions, capital markets, valuation, financial restructuring, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, and the Asia-Pacific region.
Spencer Stuart & Associates (HK) Ltd
Recent Events Report
HKVCA Luncheon Talk
6 Jun 2016
A luncheon talk with speaker from Preqin was held on 6 June 2016 at the China Club. Almost 50 attendees had participated the tremendous seminar. The topic of talk was “What the Numbers Show about Private Equity”, and the speaker – Mr. James Grove from Preqin shared the latest trends in the private equity market in Asia, the quality of data, the paucity of performance information and the best practice of leveraging private equity date to achieve goals. James shared his experiences on the aspects of how to support investors, fund managers and their respective advisors with the best and most comprehensive information to help them make the beast decisions and achieve their objectives. We would like to express our thanks to our extremely knowledgeable speaker and offer special thanks to our sponsor, Preqin, whose support made the event possible and successful.
HKVCA Breakfast Meeting
3 Jun 2016
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The HKVCA’s monthly breakfast meeting was held at the Hong Kong Club on 3 June, 2016, hosted by our Vice Chairman, John Levack. The event was substantially oversubscribed and, as has been the case in previous months, proved to be an extremely popular activity for our members. Close to 70 persons attended and were able to take advantage of this valuable opportunity for networking and a chance to reconnect with fellow industry practitioners. We would like to thank each of our members for their enthusiastic participation as well as our sponsor - KPMG for helping make this regular event such a success.
HKVCA Luncheon Talk - Technical Update
9 May 2016
A luncheon talk with speakers from Advantage Partners and PwC was held on 9 May 2016 at the China Club. The talk was on the advantages of operating under the new tax exemption law and the speaker – Mr. Makoto Takada from Advantage Partners and Ms. Yuka Matsuda from PwC Japan shared their experiences on the ways the new law would enhance the attractiveness of Hong Kong as a private equity hub and serve to encourage GPs to upgrade their services from “advisor” to “manager” in Hong Kong. The presentation has also indentified the commercial reason for “managing” from Hong Kong and the operational implications of changing from advisory to management and the issues such a move might create for GPs. We would like to express our thanks to our extremely knowledgeable speakers and offer special thanks to our sponsor, PwC, whose support made the event possible.
Industry News
Hong Kong government aims to further promote PE investments
30 May 2016
(Asia Asset Management by Ching-hoo Hui) - The Hong Kong government aims to cement Hong Kong’s position as the regional private equity (PE) hub and has launched multiple initiatives to facilitate the industry’s growth over the past 18 months, says Ka-Keung Chan, the secretary for financial services and the treasury.
Speaking at a summit organised by the Hong Kong Venture Capital and Private Equity Association (HKVCA) in Hong Kong on May 30, Mr. Chan remarked that Hong Kong was the fastest growing PE hub in Asia in terms of fundraising.
View full article here
ICBC setting up $1.1 bln Europe fund to tap new overseas markets: Reuters
31 May 2016
(Reuters by Sumeet Chatterjee) - The Asia unit of the Industrial and Commercial Bank of China Ltd is setting up a 1 billion euro ($1.1 billion) fund to invest in central and eastern European countries under its "One Belt, One Road" strategy.
Central and Eastern Europe represents a key part of China's strategy to carve out new overseas export markets between Asia and Europe for its companies as the domestic economy slows.
View full article here
What’s prompting Hony Capital to pursue L&M Handbags?
31 May 2016
(EJ Insight by Tin-yau KO) - The handbag maker said in an exchange filing Monday that its controlling shareholders have agreed to sell their 50.03 percent stake to Hony Capital, a Beijing-based private-equity firm backed by Lenovo.
Hony made a cash offer of HK$487 million or HK$1.18 per share, marking a discount of 20.3 percent to L&M Handbags’ closing price on May 26 prior to a trading halt or 18.1 percent discount to the average trading price in the five days prior to the suspension.
View full article here
Participate in the fifth annual Women in Alternative Investments Survey
KPMG’s Global Alternative Investments practice is thrilled to announce the launch of the fifth annual Women in Alternative Investments Survey.
The goal is to reach as many female industry executives as possible to ensure a collective voice. To this end, we cordially invite you to participate in the survey to provide your feedback and valuable insight. We also encourage you to share this survey with the women within your professional industry networks.
As always, all responses will be strictly confidential. Survey responses will be aggregated and analysed, and findings will be shared in a comprehensive report highlighting trends that will impact women in the alternative investment industry in 2016 and beyond.
Please click the link below to complete the survey, which should take no more than 20 minutes.
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