Asia Private Equity Forum 2014 Highlights
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.
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