COMING EVENT

Date: August 15, 2011

Time: 12:15 – 2:00 pm

Venue: 33/F Alexandra House, 18 Chater Road,
Central, Hong Kong (PAMA Group’s Board Room)

Speaker: Dr. Ji-Woong Chung
Assistant Professor in Finance, CUHK
Dr. Ji-Woong Chung is an Assistant Professor in Finance at the Chinese University of Hong Kong since 2010. Ji-Woong's current research interests include private equity, cash management, capital structure, and capital raising. He received his Ph.D. in Finance from the Ohio State University. He is the inaugural winner of the PhD prize of Coller Institute of Private Equity at London Business School in 2010, and he has recently received the Wharton WRDS Award from the 2011 Western Finance Association.

Registration: Limited to first 20 Full Members
(Sandwich lunch will be provided)

COMING EVENT
 

Date: August 25, 2011 (Thursday)

Time: 6:30 – 9:30 pm

Venue: The Dublin Jack Irish Pub
1/F, 17 Lan Kwai Fong, Hong Kong

Fee: Cash bar basis

Registration: First-come-first-serve basis

COMING EVENT

Date: September 5, 2011 (Monday)

Time: 2:30 – 4:30 pm

Venue: HKIS Learning Centre
8/F Jardine House, 1 Connaught Place, Central, Hong Kong

CPT points: 2

Outline:
  1. Typical types of illiquid/hard-to-value investments.
  2. Factors to be considered in valuing different types of illiquid/ hard-to-value investments.
  3. Types of valuation methods and models used to value different illiquid/hard-to-value investments.
  4. Definition and examples of observable and unobservable inputs to models.
  5. Key factors affecting the judgement in picking the valuation model used, such as:
    • a. When a readily available market price should/should not be used;
    • b. Impact of the last trade price and transaction volume;
    • c. Reliability of the quoted prices from various sources;
    • d. Advantages/disadvantages of various models.
  6. How to assess the reliability of the inputs and parameters used in the models.
  7. Are there any trends noted in the use of valuation advisors? How to assess the reliability of the prices used by the valuation advisors.
  8. Who has the final say if the manager and the valuation advisor come up with different prices on an illiquid/hard-to-value asset?
  9. Estimated market share of major valuation advisors. Any specialisation among the valuation agents?
  10. Common deficiencies and malpractices in relation to valuation of hedge fund assets, and how to identify them.
  11. Are there any particular valuation-related issues that regulators should pay attention to?
  12. Industry trends, both in general and in relation to valuation.

Speaker: Dr. Cindy Ma
Managing Director,
Houlihan Lokey’s NY Office

Accreditation:
2 CPT Points can be claimed for full attendance. Licensed individuals may claim SFC CPT Points on the courses taken which their employers consider as relevant to the functions performed by them.

COMING EVENT
 

Date: September 8, 2011 (Thursday)

Time: 12:30 – 2:00 pm

Venue: The China Club,
14/F Old Bank of China,
1 Bank Street, Central, Hong Kong

CPT points: 0.5

Outline:
  • Future mining company and commodity market development trends and investment highlights
  • Hong Kong mining company fund raising and investment market development situation and future potential
  • Investment strategy and technical discussion

Speaker: Ms. Amy Cheng
Managing Director, BOC International

Accreditation:
0.5 CPT Points can be claimed for full attendance. Licensed individuals may claim SFC CPT Points on the courses taken which their employers consider as relevant to the functions performed by them.
COMING EVENT

Date: October 17, 2011 (Monday)

Time: 12:30 – 2:00 pm

Venue: The China Club,
14/F Old Bank of China,
1 Bank Street, Central, Hong Kong

CPT points: 0.5

Speaker: Mr. Eric Landheer
Senior Vice President and Head of Issuer Marketing,
Hong Kong Exchanges and Clearing Limited (“HKEx”)


Accreditation:
0.5 CPT Points can be claimed for full attendance. Licensed individuals may claim SFC CPT Points on the courses taken which their employers consider as relevant to the functions performed by them.
SAVE THE DATE

SAVE THE DATE


COMING EVENT

HKVCA Members are invited to join the next breakfast meeting to networking and information share.


Date:
 September 2, 2011 (Friday)
 
 October 7, 2011 (Friday)

Time: 8:00 - 9:00am

Venue: The Hong Kong Club

Seats are limited and registration is on first-come-first-serve basis.

For enquiry, please call (852) 2845 6100.
RESOURCE

PE-exits hitting a record-high in Asia
Private Equity-backed IPOs surge in Asia and Top 10 PE-backed IPO this year

PBoC Issues Guidelines for Inbound FDI in RMB – PE Fund Opportunities
On 8 June 2011, the People’s Bank of China (PBoC) issued a new set of guidelines “Notice on Clarification of Cross-Border RMB Business Related Issues.

SEC Adopts Revised Qualified Client Standards for Performance Fees Under the Advisers Act
On July 12, 2011, the Securities and Exchange Commission (the “SEC”) issued an order raising the dollar amount thresholds advisory clients must meet in connection with performance-based or incentive fees charged by registered investment advisers……

NEW FAQs Section
To enhance the support to members, a new FAQs section under Resource Page has been launched.  Members are welcomed to raise questions related to the industry through the webpage. The questions will be vetted and answered by Resource committee in batches.

HKVCA JOB VACANCY
Position Membership and Development Manager
   
Responsibilities
  • Develop strategy and execute plan to retain and expand membership.
  • Active engagement and interaction with the current membership and wider community to ensure effective monitoring and enhancement of existing member relationships, design and implementation of evaluation programs for different categories of the membership, and membership services.
  • Effective administration of all membership activities, including data base development and maintenance, member communications and development and achievement of budgets. 
  • Continuous collaboration with Committees to ensure programs are responsive to member interests and to assist in building audience for planned programs.
  • Development of communications vehicles, including membership brochures, newsletter, website to communicate regularly the programs and purposes of the Association.
  • Assist in the identification and development of potential donors/sponsors, with the ability to cultivate relationships with them, write and edit proposals and the ability to make effective presentations to donors.
  • Assist in the development and implementation of a strategy for fundraising.
   
Requirements
  • Bachelors degree required
  • Creative, have high level of initiative and be able to manage multiple projects independently
  • Interpersonal, organizational, writing, verbal and computer skills.
  • Work independently and as part of a team, to meet deadlines and to follow through on details
  • Familiar with financial services in Hong Kong
  • Strong English and Chinese language skills, with fluency in Mandarin
  • Experience in fundraising/membership development an advantage 
   
Contact Details Please send your CV and cover letter (in English) to:
Executive Director
Hong Kong Venture Capital And Private Equity Association
Room 801 Dina House, Ruttonjee Centre
11 Duddell Street
Central, Hong Kong
OTHER EVENT Supported by HKVCA

SuperReturn Asia 2011

Date: September 19 – 22, 2011
Venue: JW Marriott HK, Pacific Place, 88 Queensway, HK
Organizer: ICBI
Registration: 15% Discount For HKVCA Members – Quote VIP code: FKR3A4BHKEM1

SuperReturn Asia is Asia's leading private equity event which brings together 800 attendees over 4 days. With 150 speakers already confirmed including over 60 LPs, the programme is an unmissable line-up of the top LP and GPs in the region.

Just some of the LPs attending in 2011 include:
Temasek Holdings * Future Fund * CDB Capital * Stanford Management Company * Teachers’ Private Capital * PSP Investments * CPP Investment Board * QIC * Carnegie Corporation of New York * SVB Capital * AP2 and many more…

Plus choice of 2 pre-conference China or LP/GP Relations summit days.
15% Discount For HKVCA Members – Quote VIP code: FKR3A4BHKEM1
Call ICBI on +44 (0) 20 7017 7200
Email:  info@icbi.co.uk
Website: http://www.informaglobalevents.com/FKR3A4BHKEM1

OTHER EVENT Supported by HKVCA

Techventure 2011

Date: October 12-14, 2011
Venue: Singapore
Organizer: Singapore Venture Capital and Private Equity Association (SVCA) and the National Research Foundation (NRF) of the Singapore Prime Minister’s Office
Registration: Special price of SGD950/pax for HKVCA members. Quote VIP Code: 8681

Techventure is a summit event for the Venture Capital and Private Equity industry. Launched in 1997, it has grown into a lead event in Singapore for innovators, entrepreneurs, angel/VC/PE investors, from all over the world, to network, interact and transact.

The Guest of Honour for Techventure’s 15th Anniversary is Deputy Prime Minister Teo Chee Hean .The event is expected to attract more than 600 top investors and innovators, captains of industry and VIP guests. They represent some of the world’s most influential investors and iconic innovators. It is indeed a rare opportunity to hear such luminaries share in sights about Asia’s opportunities.
Registration online: please click
http://techventure.com.sg/partner_registration.html

For more information, please visit: www.techventure.com.sg.
OTHER EVENT Supported by HKVCA

24th Annual AVCJ Forum 2011

Date: November 7 – 11, 2011
Place: Grand Hyatt, Hong Kong
Organizer: Incisive Media
Registration: HKVCA members can enjoy 10% off discount on registration


The world’s top private equity and venture capital professionals will gather in Hong Kong from 7 - 11 November at the 24th Annual AVCJ HK Forum. Sign up now to secure your place among Private Equity’s elite.
Leading our faculty of the best and brightest in Private Equity are renowned keynote speakers:

  • John Connaughton, Managing Director, BAIN CAPITAL
  • David Rubenstein, Co-Founder & Managing Director, CARLYLE GROUP
  • Christopher Flowers, Chairman and Chief Executive Officer, J. C. FLOWERS & CO. LLC
  • Howard Marks, Chairman, OAKTREE CAPITAL MANAGEMENT
  • David Bonderman, Founding Partner, TPG CAPITAL

Visit www.avcjforum.com for the latest programme and line-up of confirmed speakers.
Last year’s Forum attracted over 1,000 participants from 33 countries, including more than 250 LPs representing over $3,500 billion in assets under management and more than $550 billion of capital allocated I private equity.

 
   
EVENT CALENDAR

Year 2011

August 15
HKVCA Talk: Performance Persistence in Private Equity Funds
August 25
PE Young Professionals Cocktail
September 5
Masterclass on Valuation
September 8
Luncheon Talk on Mining
October 17
Luncheon Talk on HK Stock Exchange
November 21
The 8th Wine Tasting Event
Year 2012

January 17, 2012
Gala Dinner
January 18, 2012
The 2nd Asia Private Equity Forum
February 2012
Private Equity Fundamentals Course
March 16, 2012
The 9th Annual Golf Day
The above is subject to change
NEW MEMBERS WELCOME

Full Member

Acorus Capital
Represented by
Ms Maxine Barnett


Acorus Capital invests in Asian growth capital SMEs. We are one of the only Asia based Private Equity funds with a unique and deep network into to African business community. Benefactors of our niche strategy are those companies involved in Construction, Production and light Manufacturing, Mining, Clean Energy and Healthcare.

Bain Capital Asia, LLC
Represented by
Mr Jim Hildebrandt & Mr Danny Lee


Bain Capital Asia is the Asian private equity affiliate of Bain Capital, dedicated to investment opportunities in the Asian market. With offices in Hong Kong, Shanghai and Tokyo, our experienced, multi-national staff pursues a wide variety of investment opportunities.

On Capital
Represented by
Mr Laurie Kan & Mr Alain V. Fontaine


ON Capital, founded in 2004, is a leading private equity fund management firm focused on China. With offices in Beijing and Hong Kong, ON Capital is dedicated to investing in significant minority or controlling stakes in high-growth private companies seeking private equity capital for business development and expansion.

Lexington Partners Asia Ltd
Represented by
Mr Kirk M Beaton & Mr Ronnie Shen


Lexington Partners is a leader in the global secondary private equity and co-investing markets, with $20 billion in committed capital and over 1,100 global private equity investments.

Associate Member

Herbert Smith
Represented by
Mr Andrew Tortoishell & Mr Shaun Langhorne


With market leading practices across Asia, Europe and the Middle East, including its association with Al-Ghazzawi in Saudi Arabia, and its alliance with Gleiss Lutz and Stibbe in Europe, Herbert Smith is consistently ranked as a leading international law firm.

International SOS (HK) Ltd
Represented by
Mr ST Lee


International SOS is the world’s leading international healthcare, medical assistance, and security services company. We help organizations manage the health and security risks facing their international travelers and expatriates.

John Lees & Associates Ltd
Represented by
Mr John Lees & Mr Daniel Martin


The Asia-Pacific region includes some of the world's most dynamic, fastest growing economies. John Lees Associates assists in navigation of the rewarding, but sometimes complex, Asian commercial environment. With offices strategically located in Hong Kong, Shenzhen and Macao, JLA is a highly capable and experienced partner to businesses, investors and institutions operating, or seeking to operate, in Asia.

Phyllis K Y Kwong & Associates
Represented by
Dr Phyllis K Y Kwong


Established since 1991, Phyllis K. Y. Kwong & Associates is a Hong Kong based solicitors firm committed to serving businesses in Greater China, especially the burgeoning SMEs. We are one of the Hong Kong pioneers in cross-border and cross-jurisdictional legal services with particular focus on private equity investments, mergers & acquisitions, corporate pre-IPO restructuring, relocation to Hong Kong, corporate legal advisor and incorporation of companies & general corporate services.

PAST EVENT HIGHLIGHT
HKVCA Luncheon Meetings




HKVCA Cocktail Mixers




HKVCA Masterclasses

HKVCA Representative Office in Beijing
香港创业及私募投资协会
驻北京代表处
For more information about HKVCA Beijing Representative Office, Please contact Mr. Kelvin Bian, Tel: 010-88087035.
Partnership with Beijing PEA.

有关香港创业及私募投资协会 北京代表处的详情,请邮件联系边先生或致电010-88087035 , 与北京股权投资基金协会互为合作伙伴。
The Hong Kong Business Angel Network ("HKBAN"), a network established by the founding members HKVCA, Hong Kong Science and Technology Parks and the technology transfer offices of the major universities in Hong Kong. HKBAN is a platform for angels and entrepreneurs to facilitate the funding and development of young businesses.

HKVCA is now soliciting the registration of angels who invest in seed and early stage opportunities raising up to HK$5,000,000. Please recommend colleagues, friends and investment partners who may be appropriate as angel investors.

For registration, please send the completed form to Sam Wong at swong@hkvca.com.hk or Tel: 2845 6100.
 
JOB CORNER ON HKVCA WEBSITE


Attracting and retaining talent has always been the key to long-term success of any great company. HKVCA welcomes member firms to advertise their openings on HKVCA website. If there are vacancies in your firm, please fill in the attached form and email to enquiry@hkvca.com.hk

Each opening will be posted on HKVCA's website for one month. The service is free of charge.

:: Job Placement Form ::

See Job Opening
STATUS AS A RECOGNISED INSTITUTION FOR PROVIDING CPT (CONTINUOUS PROFESSIONAL TRAINING)
The Hong Kong Securities and Futures Commission (HKSFC) has approved HKVCA as a Recognised Institution for Providing CPT (Continuous Professional Training). HKVCA's training courses, seminars, summits, conferences and forums may be applicable for claiming CPT points. For more details, please refer to "Education" section of our website.
HKVCA SPEAKERS


HKVCA receives regular requests from various trade bodies and associations for speaker roles. Would you like to get involved and speak on behalf of HKVCA and promote our association and industry? Please contact Patricia Chiu at Tel: (852) 2845 6100 or patchiu@hkvca.com.hk to enroll on our speakers list.
HKVCA Corporate rate is available

at Hong Kong:
• Conrad Hotel HK,
• Fleming Hotel HK


at Shanghai:
• L'otel Shanghai

Contact Ms. Lilia Chin at lchin@hkvca.com.hk for more details.
 
 

Hong Kong Venture Capital and Private Equity Association Limited
Tel: (852) 2845 6100      Fax: (852) 2537 0086
Website: http://www.hkvca.com.hk      Email: enquiry@hkvca.com.hk
 
Disclaimers
The HKVCA newsletter may contain information that is created and maintained by a variety of sources both internal and external to HKVCA. The newsletter may contain the personal opinions and other expressions of the persons who post the entries. HKVCA does not control, monitor or guarantee the information contained in links to other external web sites, and does not endorse any views expressed or products or services offered therein. In no event shall HKVCA be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any such content, goods, or services available on or through any such site or resource.