Over the past few years, we have witnessed the rapid growth of Domestic Funds, in terms of AUM, track record, and investment experience. Some already raised US$ funds. In terms of aggregate fund sizes, some domestic funds are already comparable in sizes with their regional or even global counterparts. With China’s continuing development of the private equity industry and increasing overseas investment by Chinese private equity firms, are they now equipped to compete with their global peers, not only within China, but also in other parts of the world.
Opening Keynote by Francis Leung, Greater China Chairman, CVC Asia Pacific
Critical developments from the perspective of the offshore managers and domestic managers
  Offshore managers
  • Key winning attributes for GPs to excel in the Chinese PE market in the next five years
  • Public equity market: beta and beyond
    How should GPs deal with a volatile and unpredictable public equity market when it comes to entering and exiting investments?
    Offshore GPs listing companies at the onshore stock exchanges - sharing experience on best practice and lessons learnt
  • Franchise development
    Team growth management: quality control, cultivation of team cohesion
    Capability development: developing team depth, fostering new capability - which areas?
  • RMB strategy for offshore GPs
  Domestic Managers
  • Strategy and organization evolution
    Local funds historically have done well in pre-IPO situations, what is / should be the strategy of local Chinese PE going forward? How are they building their organization in light of their strategy?
  • Regulatory issues and competition with foreign funds
  • Chinese regulations, whether tax or otherwise, are fast evolving plus many foreign funds are raising RMB funds/ QFLP funds. How are the local managers addressing these challenges?
Ongoing changes and flux in regulatory regime
  • Updated industry catalogue for foreign investments;
  • VIE structure updates, particularly, the practical impacts of VIE structure on PRC AML filings and other governmental procedures;
  • NDRC filing requirements for onshore PE funds;
  • RMB direct investment;
  • SAFE Circular 19 and its impacts on the use of red-chip structure;
  • SAFE's new rules on reporting obligations in relation to stock options granted to PRC residents.
  • Market observations
  • Regulation affecting the PE fund managers and where is going (USA/Europe/HK/China)
  • latest QFLP status and practical difficulties
  • RMB denominated foreign funds/direct investment in China
  • New tax rule on the PRC partnerships
Luncheon Keynote by Xiaojie Huang, Founding Partner, Jiuding Capital
Chinese overseas investments – partnership with Private Equity
  • Key trends
  • Stumbling blocks
  • Access to investment opportunities
  • Long term succes
  Operational and Practical issues in PE Investment in China
  • Operational Involvement and Majority Control
  Venture Capital Scene in China
  • Technology Investment Trends
  • Best practice in VC investments
  • Influence of government policies
  • Regulations covering VC space
  • R&D shaping investment trends
  • PE appetite for technology investments
  • Talent flow
  • Exceptional opportunities 
Closing & Cocktail Reception
Some Confirmed Speakers:

Alice Chow     Managing Director, Squadron Capital
Alberto Forchielli     Managing Partner, Mandarin Capital Partners
Jie Gong     Executive Director, Morgan Stanley Alternative Investment Partners
Alvin Ho     Managing Director, Chepstow Capital Advisors
Xiaojie Huang     Founding Partner, Jiuding Capital
Vivian Lam     Managing Director, RRJ Capital
Francis Leung     Managing Partner and Chairman, Greater China, CVC Asia Pacific
Jie Lian     Partner, Primavera Capital
André Loesekrug-Pietri     Chairman & Managing Partner, A Capital Group
Xiaohu Ma     Partner, Morrison & Foerster
Margaret Shao     Managing Partner, Fortune Venture Capital
William Shen     Senior Partner, Head of Greater China, Headland Capital
Derek Sulger     Partner, Lunar Capital
Conrad Tsang     Partner and Managing Director, Baring Private Equity Asia
Zhong Wu     CEO, Chengdu Yinke Venture Capital
Shirley Xie     Partner, Financial Services Practice, PricewaterhouseCoopers
Alex Zheng     Founder, Co-win Capital

SFC: Licensed individuals may claim CPT points on the courses taken which their employers consider those courses as relevant to the functions to be performed by them.

HKVCA retains the right to make changes as it deems necessary



Date: May 25, 2012 (Friday)

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

  • The key benefits for companies listing on ASX relative to other markets;

  • The Australian regulatory requirements for listing and fundraising, and ongoing disclosure requirements;

  • The current Australian market environment for companies and details of equity funding mechanisms that have worked for recent listings.

Andrew Musgrave,
Asian Regional Manager,
Australian Securities Exchange
  Eddie Grieve,
Senior Manager,
Listings Business Development,
Australian Securities Exchange

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.


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

 June 1, 2012 (Friday)
 July 6, 2012 (Friday)

Time: 8:00 - 9:00am

Venue: The China Club   (pls note new venue)

Seats are limited and for members only


FAQs Section
Members are welcomed to raise questions related to the industry through the FAQs section under Resource Page. The questions will be vetted and answered by Resource committee in batches.

EOY Award 2012

The IFC’s 14th Annual Global Private Equity Conference
in Association with EMPEA

Date: May 14-17, 2012
Venue: The Ritz-Carlton, Washington, D.C.
Organizer: International Finance Corporation (IFC)
Emerging Markets Private Equity Association (EMPEA)
Registration: Qualified LPs Register for Free!*

Join IFC, EMPEA and 750+ delegates at EM PE Week in Washington, D.C.

At the Global PE Conference, over 750 key industry players from around the globe participate in thought-provoking discussions, debates and analyses around the theme of emerging markets prevailing in a new financial landscape. The Main Conference Forum on May 15th and 16th is part of a week of events focused on emerging markets private equity (EM PE), in conjunction with the second annual Institutional Investors-Only Summit on May 14th and the EMPEA Fundraising Masterclass on May 17th. Topics to be covered at this year’s program include identifying which markets and sectors present the most compelling investment thesis, examining private equity’s transformative role in emerging markets, and discovering how investors are best positioning themselves to maximize returns. Featuring renowned keynote speakers, panel discussions, dynamic debates and interviews on key issues, this week in Washington, DC draws EM PE’s leading fund managers, institutional investors, practitioners and government regulators. For more information, please visit


AltAssets’ LP-GP Forum

Date: May 22 – 23, 2012
Venue: London
Organizer: AltAssets
Registration: 20% discount offered to all HKVCA members

AltAssets’ LP-GP Forum: Asia Private Equity is an exclusive, invitation-only event to bring together up to 75 European LPs and 75 Asian GPs in a 'private club' environment. Taking place in London on 22nd & 23rd May, 2012, this unique event is designed to bring the very best private equity and venture capital fund managers, who operate in Asia, together with European institutional investors who have a strong interest in, or are already committed to, investing in Asia.



Canadian Oil and Gas Companies Investment Symposium in Hong Kong

Date: 25 June 2012
Venue: Hong Kong Exchanges and Clearing Limited (“HKEx”)
Exchange Exhibition Hall
1/F., One and Two Exchange Square, Central, Hong Kong
Organizer: Calgary Economic Development
The Canadian Chamber of Commerce
Program: 8:30-11:30 am – Presentations by Canadian Companies

12:00-1:30 pm – Keynote Luncheon

1:30-4:00 pm – One-on-One Meetings
Registration: Free for Qualified Investors
Submit this form before 1 June 2012

Riding on the recent successful listing from Canada, Calgary Economic Development is leading an investment mission of Canadian companies to Hong Kong. The focus will be on attracting investment into the oil and gas industry.

For any inquiry, contact Ruth Leung, email

May 4
Members Breakfast (HK Club)
May 25
Luncheon Talk on IPO in Australia
June 1
Members Breakfast (China Club)
June 7
The 11th China Private Equity Summit
June 22
The 25th Annual General Meeting
July 6
Members Breakfast (China Club)
The above is subject to change

Full Member

China Soft Capital Group
Represented by
Mr. Wang Guang Yu and Mr. Wong Wing Hang

China Soft Capital Group (CSC, known as China King Link Corp in China), founded in 2008, is an equity investment and asset management institution focusing on strategic emerging industries (high-end equipment manufacturing, new–generation of IT and new consumer upgrade). Today, CSC manages 4 capital funds (over RMB3B), and has offices in Beijing (HO), Shanghai, Hangzhou, Changzhou and Hong Kong.

The Blackstone Group
Represented by
Ms Carol Kim

Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, and credit businesses. The Blackstone Group also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at


Associate Member

Eaton Partners
Represented by
Mr Christopher Lerner

Eaton Partners, founded in 1983, is a leading independent private equity advisor and fund placement agent with over 50 professionals across six offices globally. Since 2005, Eaton Partners has raised over US$20 billion in funds spanning a diversified range of alternative investment strategies. Importantly, the Firm has a long standing commitment to Asia with a track record beginning in 1994 and one of the largest dedicated teams in the region. In Asia, Eaton Partners has offices in Hong Kong and Shanghai, where it was the first independent firm of its type to establish a presence in Mainland China.

Beijing PE Course
April 25 - 27, 2012

HKVCA and Beijing PE Association have developed strong bilateral ties under the “Exchange Representative Office Partnership Agreement” signed in 2011. As part of our practical collaboration, “HKVCA & BPEA PE Fundamentals Course 2012” was successfully held in April 25-27 in Beijing. This comprehensive training course covering six modules in 18 hours was led by a top tier faculty of highly seasoned senior industry practitioners and experts engaged in years of deal-making, structuring, value-creation in companies and exits. Instructors drew on their extensive real life experiences to illustrate their points. The course was found to be very valuable and highly rated by over 60 participants.

Jiangsu Changshu (HK) Financial and Investment Seminar
April 16, 2012

HKVCA and Jiangsu Changshu Southeast Economic Development Zone Committee co-organized the Seminar on Jiangsu Changshu’s Investment Opportunities drawing a focussed audience of more than 50 participants on April 16, 2012 at the Conrad Hong Kong. The seminar was followed by a networking lunch with the delegation led by the Vice Mayor Mr Shen Xiaodong. The signing of the Memorandum of Understanding and the success of the event strengthened business relationship and cooperation between Jiangsu and HKVCA.

2-Day Course on Financial Modeling & VC Investing
April 2-3, 2012

HKVCA co-organized the 2-day course with Wall Street Training. Hamilton Lin, President and Founder of Wall Street Training covered in great depth Revenue Modeling, Expenses Modeling, M&A Earnout Modeling, Valuation and VC Investing.

Luncheon Talk on Russia and the CIS
April 17, 2012

Sergio Men, Managing Partner of Eurasia Capital Partners spoke on investing in non-resource sectors in Russia and the Commonwealth of Independent States (CIS) – including investment priorities, current progress of the market and options for investment companies. The talk was attended by 40 participants.
China Private Equity Summit

The China PE Summit has earned a reputation for its excellence in addressing the important issues which are of interest to practitioners and professionals investing in China, its rich contents and bringing in the best industry experts on the topics. The Summit 2011 attracted more than 320 participants.

The next Summit will take place on June 7, 2012.
HKVCA Representative Office in Beijing
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。

Hong Kong Venture Capital and Private Equity Association Limited
Tel: (852) 2845 6100      Fax: (852) 2537 0086
Website:      Email: