Registration and refreshments

Welcome remarks

International leaders' panel: Going strong - China's PE outlook for 2012
China's dynamic PE field continues to grow, recording some of its biggest figures ever in 2011 with $11.7 billion in investments for the year. Capital constraints around the globe fuelled by factors such as the Eurozone's continuing debt woes and the stalled US economy, along with the limited availability of bank funding for Chinese SMEs, have all contributed to the growth of the industry, and 2012 is forecast to be another banner year. Still, ongoing challenges, such as an imbalance between deals and exits, remain.

• Is the growth that China's PE industry has seen in the past two years sustainable in the long-term?
• Are we headed toward global recession 2.0, or are we merely witnessing a prolonged recovery?
• What are the most attractive sectors for PE investment in 2012?
• Given the strength of the local industry, what can be done to increase allocations?

Networking coffee break

The continuing evolution of China's capital markets and the significance for PE
While the growth and increasing international usage of the renminbi is often discussed and debated, the evolution and future of China's capital markets is less well understood. As the markets continue to be reformed and revised, PE leaders need to adapt their strategies to the changing environment to stay ahead of the game.

• What is the current state of development of China's capital markets and what further reforms are needed?
• What can investors with a medium-term view plan for in the coming 5-10 years?
• How can PE professionals best utilise capital markets to access growth in China?
• What impact is the coming political transition expected to have on capital markets?
• The future of currency controls and the resulting impact on China PE
• What effect will the 12th Five Year Plan have on China's capital markets?
• Will capital market reforms change the exit-via-IPO dominated nature of China's PE market?

Venture capital in China
The universal labeling of China being the world's factory will soon come to an end as Mainland companies and entrepreneurs continue to move up the food chain and become the world's leading source of innovation. While technology will obviously play a big part, Chinese startups also seek to address other fundamental issues, such as food, restaurants and accommodation, faced by the local market. With a potential market of 1.3 billion plus consumers, it is possible for Chinese startups to experience growth at pace only few Silicon Valley startups can dream of. China's top venture capitalists discuss their view on what the next big big thing will be.

Networking lunch

Executive address

Global aspirations: China goes abroad
Thanks to years of strong domestic performance, corporations in China are now equipped to expand outward as they search for acquisitions, non-organic growth, foreign brands that will sell well at home and the capture of foreign market share. Overseas expansion involves a litany of challenges, and Chinese firms are now partnering with PE firms to assist in their outward growth. In December for example, a division of China Development Bank (CBD) signed agreements with KKR, Permia and TPG to aide investment into and out of China.

• How can PE help Chinese companies expand overseas?
• What barriers and limitations exist, and how can these be overcome?
• Can PE help Chinese firms manage commercial and political sensitivities when investing outward?
• The history of M&A is littered with value destroying deals - how can investors back the right companies?
• Is outward investment the first step toward China building globally recognized brands?
• What are the most attractive sectors and regions for outward growth?

Navigating the regulatory landscape
In mid-December, Beijing announced some of the first steps toward directly regulating the PE industry. The five-part regulations were issued by the National Development and Reform Commission (NDRC) and outline requirements on fundraising activities, information disclosure and also detail an expanded PE manager filing system that will cover the entire industry.

• What regulations now exist for PE in China and what impact do they have on fundraising and fund management?
• How do regulations in China compare to other markets in the region?
• Will we see more new regulations targeting the PE industry in the coming year?
• What is the current process from start to finish of launching a new fund in China, and is this process likely to change in the coming years?
• What regulatory ambiguities still need clarification?

Networking coffee break

The continuing ascendance of RMB denominated funds
RMB denominated funds continue to gain strength in China and now account for a much larger percentage of the market than dollar funds. In the first 11 months of 2011, RMB funds accounted for 75% of all PE funds, raising $3.1 billion from 295 funds closed. International firms can now raise RMB funds as well, but to do so they are required to form a JV with a Chinese partner. Many believe that local GPs meanwhile, while largely unknown outside of Asia, have an advantage in fundraising and investing.

• As China's PE market is increasingly dominated by RMB funds, what will global GPs need to do to adapt and prosper?
• What is the process for finding and building a successful JV relationship with a Chinese firm to launch a RMB fund?
• What appeal do dollar funds still hold and what is the level of interest from LPs?
• What regulations and restrictions exist for RMB funds vs. USD funds?

Close of conference day 1

Speed-networking cocktail

Registration and refreshments

Opening remarks

25 Years of Asian Private Equity
From a handful of pioneering funds braving the once difficult investment landscape, Asian private equity has, in the last 25 years, grown to become a highly sought after asset class. Long gone were the days Asian GPs fought long and hard for corporate crumbs, as private equity firms have become preferred partners for corporate Asia. While relatively young, the Chinese market has seen many generations of private equity and venture capital firms come and go. A group of investors that has not only survived, but has also prospered share the knowledge that can only come from experience.

Case study: Finding value in China's 2nd-3rd tier cities

Networking coffee break

The future of exits in China: Is IPO dominance forever?
China remains the only market globally where IPO exits dominate the PE sector. In 2010 for example, more than 70% of all exits in China were via IPO, compared to a global average of just 10-15%. However, IPOs in China have underperformed in 2011 and exits via this method are decreasing. Many professionals are now revaluating their strategies by prioritizing performance improvement and looking at exit options such as secondary buyouts and strategic purchases.

• What are the reasons IPO exits continue to dominate in China?
• If equity markets continue to be volatile, will it spell an even further decrease in IPO exits?
• How appealing are trade sales and buyouts as exit vehicles?
• What role do market regulations play in formulating exit strategies, and will this change as China unveils increased PE legislation?

LP expectations: Capturing growth and returns in China

• What are the most and least attractive attributes of China funds?
• How does China compare to other Asian markets in terms of length of investment?
• Do up-and-coming markets such as Indonesia now hold more promise than China?
• How concerning is the upcoming political transition? From an investor's point of view, is its significance being overblown?
• If growth in China slows this year, will demand for exposure to the market follow in lockstep? Should it?

Networking lunch

Close of conference