HKVCA Fundraising Masterclass: Regulation, Taxation and Trends

Sponsored by

Venue

KPMG Office, 8/F, Prince’s Building, 10 Chater Road, Central, Hong Kong

CPT

2.5 points

Agenda

Time Content Speakers
9:30 – 10:45 Established PE Funds – legal and tax considerations
  • Use of offshore domiciles or onshore LPF regime
  • Fund structure (limited partnership/investment companies) and documents (i.e. LPA, side letters)
  • Regulatory issues on fund formation (licensing, securities laws, anti-money laundering issues)
  • Tax considerations
  • HK and SG – overview
  • OFC, VCC and LPF
  • Shawn Yang, Partner, Debevoise & Plimpton

    Sandy Fung, Partner, Alternative Investments, Tax, Hong Kong, KPMG China
    10:45 – 10:55 Break
    10:55 – 11:45 Fundraising
  • Fundraising landscape & Strategy
  • What’s the situation in the current volatile environment
  • Why LPs invest in private equity
  • Types of LPs that invest in PE funds
  • What LPs expect of GPs
  • How to approach LPs
  • Wendy Zhu, Partner, Managing Director & Global Head, AlpInvest Partners

    Josh Jacob, Managing Director, Constellar Capital
    11:45 – 12:35 IR
  • IR role in fund raising
  • LP reporting and technical expertise
  • How GPs govern their funds
  • How fund management and governance are evaluated (metrics, etc.) by LPs
  • Haide Lui, Head of Investor Relations, Ascendent Capital Partners

    Registration

    HKVCA Members: HK$1,800 per person
    Non Members: HK$3,600 per person

    Check
    Our check payable to the “Hong Kong Venture Capital and Private Equity Association Ltd” or “HKVCPEA Ltd”

    Remittance (net of any bank charges)
    Our payment slip of remittance (net of any bank charges) to the following bank account:
  • Bank: The Hong Kong and Shanghai Banking Corporation Limited, Hong Kong, Head Office
  • Account name: Hong Kong Venture Capital And Private Equity Association Ltd
  • Account no.: 567-614755-001 (Swift code: HSBCHKHHHKH)
  • Please provide a payment slip for our records. All bank charges should be pre-paid.

    PayPal
    PayPal (You will receive an invoice from PayPal. Please follow the payment instructions in the email.)

    Faster Payment System (FPS)
    Faster Payment System (FPS) to the following bank account:
  • FPS E-mail: fps@hkvca.com.hk
  • Account name: Hong Kong Venture Capital And Private Equity Association Limited
  • Terms & Conditions
  • Registration must be followed by payment to secure your place. Registrations will be confirmed upon receipt of payment. Should you require an invoice, please contact us.
  • Cancellations must be made in writing at least 7 working days prior to the event. No refunds will be made thereafter.
  • Information is subject to change. The HKVCA retains the right to make changes as it deems necessary.
  • Seats are limited on a first-come-first-served basis and priority will be given to HKVCA members.
  • Free pass no shows will be charged full price.
  • Speakers' Bios

    Wendy is a Partner, Managing Director and Global Head of AlpInvest Partners’ Primary Fund Investments team. She is also responsible for the Secondary and Portfolio Finance team in the Asia Pacific region and a member of the Operating Committee. She joined AlpInvest Partners in 2007 from Macquarie Funds Management, where she was Senior Vice President of Asia-Pacific regional private equity fund investments and co-investments. Previously, Wendy was a Director with Deutsche Bank Asset Management and an Associate Director at MetLife. Wendy received a BS in Business Administration and an MS in Accounting from the University of Southern California. She represents AlpInvest Partners on various Advisory Boards.

    Ms. Lui is Head of Investor Relations of Ascendent Capital Partners. Ms. Lui is responsible for IR and fundraising. 

    Prior to Ascendent, Ms. Lui spent over 10 years at HarbourVest Partners, focused on private equity fund investments across Asia. During that time, she served on the limited partner advisory committees of a number of pan-regional and China-focused private equity partnerships. Before that, Ms. Lui was with Morgan Stanley in the Global Capital Markets group in Hong Kong, focused on the origination and execution of equity financings, advising Asian and Chinese companies.

    Ms. Lui graduated from the University of Cambridge with a B.A. Honours in Natural Sciences.

    Josh Jacob is a Managing Director at Constellar Capital responsible for fundraising, sourcing, diligence and client relationships. Constellar Capital acts as an institutional bridge between the East and the West, with a deal log of world class managers for APAC investors across multiple strategies and asset classes in the Alternative Investment industry. Josh has over 19 years of global private market experience at various firms including Hamilton Lane, New Amsterdam Group and Centrum Capital.

     

    Shawn Yang is a partner of Debevoise & Plimpton LLP and registered foreign lawyer, based in the Hong Kong office. He is a member of the firm’s Investment Management Group. Mr. Yang’s practice focuses on private equity fund formation, secondaries and select investor-side representations.


    Mr. Yang’s recent experience includes representing clients such as Advantage Partners, EQT, Clayton, Dubilier & Rice, HarbourVest Partners, Morgan Stanley, KKR, Ontario Teachers’ Pension Plan Board and HongShan (formerly Sequoia China).


    Mr. Yang has been named in Private Equity International’s “Future 40 Leaders” list, and is named as a Next Generation Partner by The Legal 500 Asia Pacific – Greater China (2024) for Investment Funds. The guide describes him as “very detail-oriented and hands on” with “solid technical skills.” He has also been described as “very calm, commercial, able to think outside-the-box and to provide solutions.” Clients have also noted that he is “an excellent lawyer, exceptionally hardworking and very efficient.” Mr. Yang has been named by Asian Legal Business (2022) as one of Asia’s 40 Under 40 Lawyers and by IFLR1000 (2021/22) as a Rising Star in Hong Kong for Private Equity Funds.

    Mr. Yang received a J.D. in 2012 from the University of Virginia School of Law, where he served on the Managing Board of the Virginia Law Review, and a B.A. from the University of Southern California in 2008.


    Mr. Yang joined the firm’s New York office in 2012 and transferred to the Hong Kong office in 2013. He is a member of the Bar of the State of New York.

    Sandy is a tax partner in KPMG’s Asset Management group. She has more than 20 years of experience in performing tax structuring and advisory services to alternative investment funds including hedge funds, credit funds, special situation funds, real estate and infrastructure funds, private equity funds, venture capital funds etc. She also has extensive experiences in performing tax due diligence reviews and investment structuring in connection with M&A transactions.


    Sandy was an in-house tax advisor for several global Private Equity Funds. She has substantial experiences in implementing the proposed investment, ownership, financing structures and performing restructuring. She has also been focused on advising the potential tax issues that may arise from the Asset Management and the Exit stages.


    Sandy provides tax advisory services on investment structures in the Asia Pacific region and cross-border transactions. She advises on all aspects of investment structures, including substance requirements, ownership and holding structures, financing arrangements, debt push down strategies and divestment scenarios. Many of the assignments involve the effective use of double tax treaty and consideration of the potential direct, indirect, withholding taxes, capital and stamp duties etc.


    Sandy has extensive experiences in dealing with Hong Kong tax audit cases in fund industries.


    Sandy is a Bachelor of the Professional Accountancy in The Chinese University of Hong Kong and a Bachelor of Law in The University of London. She is a Member of the of the Hong Kong Institute of Certified Public Accountants (HKICPA), a fellow of UK Association of the Chartered Certified Accountants, a Member of The Institute of Taxation in Hong Kong, an Associate of the Chartered Governance Institute UK & Ireland, and an Associate of the Hong Kong Chartered Governance Institute (HKCSI).

    • Registration must be followed by payment to secure your place. Registrations will be confirmed upon receipt of payment. Should you require an invoice, please contact us.
    • Cancellations must be made in writing at least 7 working days prior to the event. No refunds will be made thereafter.
    • Information is subject to change. The HKVCA retains the right to make changes as it deems necessary.
    • Seats are limited on a first-come, first-served basis. For events open to both members and non-members, priority will be given to HKVCA Members.
    • Free pass no shows will be charged full price.
    • Registrants are reminded that slides produced by event speakers may not be available to attendees. Where slides are made available, only those who actually attend will have access to the slides and only upon completion of the event.
    • Please be advised that there will be no recording available for this event.
    • To avoid technical problems, online participants should log in to Zoom using the email address they provided when registering for the event, in case an online option is available.
    • Participants are hereby reminded that they are required to join the event at the beginning and remain until completion of the full event if they intend to claim all CPT (SFC licence) hours the event provides.
    • The Hong Kong Securities and Futures Commission (HKSFC) approved the Hong Kong Venture Capital And Private Equity Association (“HKVCA”) as a recognized institution for providing CPT (Continuous Professional Training). Registrants may claim CPT points on the captioned event if their employers consider this event to be relevant to the functions performed by them. Registrants should note that their employers, as the corporate license holder of your SFC registration, are responsible for determining whether our courses/events satisfy CPT requirements.
    • CPD points can be claimed after attending the event. Participants must follow the start and finish times as stated, otherwise CPD points may be deducted. 
    • Participants who would like to claim CPD points have to update their Mandatory CPD Training Records with the CPD points for the course.