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_________________________________________________________ Members Only Event Date: Feb 14, 2014 (Fri) Time: 08:00  - 09:00 Venue:              Hong Kong Club, 1 Jackson Road, Central, HK Fee: Full Member (Corporate): One free pass per company                   Full Member (additional pass)/ Associate Member: HK$200     _________________________________________________________ Members Only Event Transferring deal risks to the insurance market: the use of warranty and indemnity insurance and other transaction liability insurance solutions in M&A deals Date:  Feb 27, 2014 Time: 12:30 - 14:00 Venue:                       Latham & Watkins, Hong Kong Office, 18th Floor, One Exchange Square, 8 Connaught Place, Central, HK Fee: Full Member (Corporate): One free pass per company Full Member (additional pass)/ Associate Member: HK$200 CPT: 1 point Speakers: Rod Brown, Corporate Partner, Latham & Watkins LLP Justin McCarthy, Regional Director, Aon Mergers & Acquisitions Solutions Sandra Lee, Regional Associate Director, Aon Mergers & Acquisitions Solutions Full Speakers Bio          _________________________________________________________ HKVCA 11th Annual Golf Day 2014  Format: Modified Scramble Date:  March 21, 2014 (Fri) Time: Check-In and Breakfast: from 7:45am Shotgun Start: 9am Venue:             The Shek O Golf and Country Club                                  Fee: HKVCA Member HK$2000* Non-member HK$2600* Caddy HK$450^ *Fee inclusive of breakfast and lunch ^Caddy fee subject to change Platinum Sponsor:  Gold Sponsors:          Luncheon Sponsor:  Breakfast Sponsor:   _________________________________________________________ Save the Date  _________________________________________________________ Save the Date Event highlights 2014 Asia Private Equity Forum The 2014 Asia Private Equity Forum (APEF) was successfully held on Wednesday 15 January at the Hong Kong Convention & Exhibition Centre. More than 400 attendees heard 52 speakers address a variety of topics on private equity markets across Asia. Opening remarks were made by HKSAR Government Financial Secretary John Tsang, and Dr Shangzhi Wu, Chairman of CDH Investment, presented the opening keynote on private markets in China. Panel speakers addressed the latest trends and direction of private markets in China and India, the maturing market of Southeast Asia, and the challenges and opportunities in regional and global funds in Asia. Luncheon keynote speaker Steve Martinez, Head of Asia Pacific & Senior Partner, Private Equity for Apollo Management, discussed the role of the global GP in Asia. In the afternoon session, attendees split into two streams. Stream A looked at current issues in Asian fundraising and investor relations and the challenges for exits and liquidity in Asia. Stream B focused on the private capital markets of Japan and South Korea. Thanks go to Mark O’Hare, Founder and Chief Executive of Preqin, for his presentation “How Limited Partners View the Current Environment for Asian Private Equity”, and Weijian Shan, Group Chairman and Chief Executive Officer, PAG Capital, for the closing keynote, “The Rise of the Asia-based Alternative Asset Management Firm”. Media coverage of the Forum was wide-ranging and highlighted the key takeaways from the event, namely: Hong Kong is mulling the introduction of profit tax exemption for offshore funds, and more than 370 private equity firms in the city have capital under management of about US$100 billion. Several of the media reports further emphasized the Asia-Pacific region’s attractive economic growth rates, rising consumption and a 'pleasing' decline in corruption. Some media noted that cross-border transactions will become increasingly prominent in China private equity deal flow as the country’s economy matures and domestic companies seek to expand overseas. Liberalization of the Chinese economy will also provide new opportunities for the brave investor, while reduced valuations in India are making that market more attractive, despite risks associated with the depreciating rupee. The HKVCA would like to thank Citigate for its help in organizing media participation at the Forum and subsequent media coverage. Media Coverage on Jan 16, Jan 21 and Jan 24.  More Photos can be viewed here 2014 Gala Dinner The HKVCA’s 2014 Gala Dinner was held after the successful conclusion of the Asia Private Equity Forum (APEF) on Wednesday 15 January. A sell-out event saw close to 170 people sit down together to enjoy an evening of good food and friendship forged around the theme of the Chinese New Year, the Year of the Horse, and the Chinese character “福”, which means fortune and luck. Table decorations included horse toys and figurines as symbols of the upcoming New Year, and a multi-course Chinese banquet was served to honored guests. Entertainment was in two parts: a rope skipping performance by the Hong Kong Rope Skipping Club, runner up of the World Rope Skipping Competition; and dinner speaker George Anson, Managing Director, HarbourVest Partners and Chairman of the European Private Equity and Venture Capital Association, who gave attendees an overview of the industry as seen from Europe. The evening also featured a presentation highlighting the HKVCA’s 2013 activities and achievements. More Photos can be viewed here _________________________________________________________ Other Supported Events: SVCA Private Equity Conference 15 April 2014 The 4th Annual SuperReturn China 2014 7 - 9 April 2014 Entrepreneur Day 2014 "Fund & Mentor" Session 2 May 2014

New Members Welcome

Full Member

Ascendent Capital Partners (Asia) Ltd.

CDH Investments

CDH manages over $12 billion from more than 100 international and domestic institutional investors, including sovereign wealth funds, China’s National Social Security, pension funds, insurance companies, endowments & foundations, family offices and fund of funds. It also manages capital for high net worth individuals.

CDH has more than 100 investment and other professionals operating in offices in Hong Kong, Beijing, Shanghai, Singapore, Shenzhen and Jakarta.

CDIB Capital International (Hong Kong) Corporation Limited

China AMC Capital Management

Harvest SCP

Quilvest Hong Kong Ltd

SL Capital Partners LLP

SL Capital is part of the Standard Life Group, formed in 1825. SL Capital has raised €6.5 billion for16 private equity pooled and separate accounts, with a European and North American focus. SL Capital has over 170 clients from 24 countries, and works with several of the world’s leading pension plans, including California Public Employees’ Retirement System.

SinoVest Capital Ltd

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Overseas Full Member

Advent International

Founded in 1984, Advent International is one of the largest and most experienced global investors dedicated solely to private equity. Since inception, the firm has invested in more than 280 buyout transactions in 36 countries and today has €24.3 billion in assets under management. The firm focuses on growth and traditional buyout and strategic repositioning transactions across five core sectors, including technology, media and telecoms; business and financial services; healthcare; industrial; and retail, consumer and leisure.

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Hogan Lovells is an international legal practice with over 2,500 lawyers operating out of 45 offices worldwide, including 9 in Asia. Our private equity and venture capital team offers transpacific capabilities that very few competitors can match, representing funds in early, middle, and later stage venture capital and private equity investments and exits.

Most Enterprises (HK) Limited

Most Enterprises is established in 2007 and headquartered in Hong Kong and Chinese mainland business in Chengdu. The company specializes in investments and related advisory business in non-ferrous metal mining exploration, mineral processing business, including but not limited to direct investments and co-investments in natural resources projects, merger and acquisition advisories for its partners, and financing advisories for the acquisitions and further business expansions.

Probitas Partners

Probitas Partners is a preeminent alternative investment fundraising and advisory firm. We serve institutional investors seeking to invest capital and fund sponsors seeking to raise capital for private equity, real estate, infrastructure, credit, and special situations strategies. These services are offered by a global team dedicated to providing the best Results.

Simmons & Simmons

Simmons & Simmons is a leading international legal practice with over 1,500 staff worldwide, including 230 partners, and a total legal staff of over 900. Our current client base includes a significant number of the current FTSE 100 and Fortune Global 500 companies and we advise the top 10 investment banks, many of the world's largest financial conglomerates and more than half of the top 50 European hedge fund managers. We provide services from 22 locations based in Europe, the Middle East and Asia.

Recent Events Report

HKVCA-HKU PE Fundamentals Course
Dec 2, 2013

The HKVCA-HKU Private Equity Fundamentals Course is a comprehensive and intensive training program that has been specially designed for MBA students at the University of Hong Kong (HKU). The goal of the course is to provide these students with greater insight into and a more significant understanding of the fundamental principles involved in the private equity and venture capital industry.

We would like to thank our speakers for their invaluable contribution and support. The HKVCA’s Anna Cheung spoke on due diligence and the investment committee process, while Bonnie Lo, from NewQuest Capital Partners, spoke on deal sourcing and valuation.

Anna Cheung discussing due diligence and the investment committee process.

Bonnie Lo spoke on deal sourcing and valuation

Thanks also to David Pierce and K O Chia who presented the first session on Nov 20, as well as to members of the Education Committee, especially John Levack, for organizing this leading initiative in ppartnership with the HKU MBA programme.

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HKVCA Christmas Cocktail 2013 
Dec 9, 2013

On the evening of Dec 6 2013, HKVCA Christmas Cocktail attracted more than 80 participants attending this spectacular night. Special thanks to our speaker Bertram Lai, Head of Research from CIMB, on subject "The Horizon of the IPO Market in Hong Kong and China". Thanks also to our Venture Committee and especially to our cocktail sponsors Teresa Ng and Patrick Lim from MB Global and Simon Mak from Ascent Partners.

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HKVCA LP Luncheon
Dec 9, 2013

HKVCA LP Committee hosted a year end luncheon to review the Association's progression in 2013 and to discuss the upcoming HKVCA initiatives in the following year. We would like to thank all 21 representatives from 19 limited partner institutions to spare their busy schedules to join this lunch in the magnificent "Piso Comendador Arnaldo de Oliveira Sales" in Club Lusitano.

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An Exclusive HKVCA Members’ Tour at NEST
Dec 9, 2013

Nest has been investing in Hong Kong's entrepreneurs and talent since 2010, and a great supporter to build and shape the start-up eco-system here in Hong Kong to nurture this powerful new industry. HKVCA Chairman, Conrad Tsang, led the staff team for a tour of Nest's incubation centre and to learn on its seed stage investment model.

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Brownbag Technical Series - Updates on AIFMD and FATCA
Dec 9, 2013

On December 13, 2013, a luncheon talk was held at the offices of O'Melveny & Myers LLP which was attended by an audience of 15 dedicated members. Speakers James Ford, Partner of O'Melveny & Myers LLP, and Angelica Kwan, US Tax Partner of the PricewaterhouseCoopers Limited, shared their expertise on the current updates of both technical implementations from Europe and from USA. They also discussed the most recent developments in various jurisdictions when dealing with both directives and issues that matters to the Hong Kong investors.