AVCJ Private Equity & Venture Forum AVCJ私募股权与创业投资论坛 GLOBAL PERSPECTIVE, LOCAL OPPORTUNITY 全球视角 本土机遇 26-27 May Park Hyatt, Beijing 5月26-27日 北京柏悦酒店 China中国 2011 China: The world’s largest PE market by 2020? 中国:2020年世界最大私募股权市场? 10 TH ANNUAL 第十届 avcjchina.com All information in this brochure is correct at the time of printing. The organiser reserves the right to amend any details. 这份册子上所有的信息均已核对。本集团方保留细节修改权利。 Dated: 8 April 2011 CO-SPONSORS 联合赞助单位 ASIA SERIES SPONSOR 亚洲系列赞助商 INVESTMENT PROMOTION PARTNER 投资推广伙伴 SUPPORTING ORGANISATIONS 支持机构 INTERNATIONAL BUSINESS NEWSPAPER 国际商业报纸及新闻网 KNOWLEDGE PARTNER 专业支持单位 EXHIBITORS 参展单位 TM LEGAL SPONSOR 法律赞助单位
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China: The world’s largest PE market by 2020?中国:2020年世界最大私募股权市场?
10TH ANNUAL 第十届 avcjchina.com
All information in this brochure is correct at the time of printing. The organiser reserves the right to amend any details.这份册子上所有的信息均已核对。本集团方保留细节修改权利。
Dated: 8 April 2011
Co-sponsors联合赞助单位
AsiA series sponsor亚洲系列赞助商
investment promotion pArtner投资推广伙伴
supporting orgAnisAtions支持机构
internAtionAl Business newspAper国际商业报纸及新闻网
KnowleDge pArtner专业支持单位
exhiBitors 参展单位
TM
legAl sponsor法律赞助单位
robert li, partner, BioVEdA CHinA
“A valuable networking [opportunity] that is different from other vC/pe meetings.”
vincent guo, Director, public policy & researchCHinA VEnTurE CAPiTAl AssoCiATion
“i want to thank AvCJ for organising such a high quality, very informative conference. i thoroughly enjoyed the event.”
What our delegates say 与会嘉宾的评语
China’s premier international private equity conference, AVCJ’s Private Equity & Venture Forum - China, will return for its 10th anniversary edition from 26 – 27 May at the Park Hyatt in Beijing.
Leading institutional investors will share their views on how they measure their China allocation relative to elsewhere in the region and the world, as well as what their hopes are for returns from the market.
Thought-leading private equity fund managers will work through these controversial issues and more:
• Will China become the world’s largest PE market by 2020?• Who are the new PE LPs? What is their investing focus? How can
GPs engage with them?• The RMB debate: Are investments in RMB-denominated funds
essential to success in China?• Fundraising: Who will be the new investors, and what will be the
new channels in the next investment cycle?• Exits: How are GPs planning their exits in this cycle? Are
international exchanges becoming more, or less, important?• The PRC’s position relative to global economies, and its most
investable trends
AVCJ China Private Equity & Venture Capital Awards AVCJ has launched the China Private Equity & Venture Capital Awards, to recognise and honour firms and practitioners who have helped drive the growth of private equity in China. The winner of each category will be revealed at the forum. Details will be announced via www.avcjchina.com. Stay tuned!
Five reasons to attend:w Meet established and new Chinese and overseas lps
w Learn the lessons of industry pioneers
w Share your insights with your global and domestic peers and investors
w Identify the critical issues and opportunities affecting your decisions
w Build unique strategies to make you an industry leader!
Who you will meet at the Forum:• private equity professionals• pe limited partners / institutional investors• placement agents and investment consultants• Fund administration professionals • C-level executives• risk consultants, insurance carriers and brokers• Due diligence providers• leveraged credit and mezzanine providers• Commercial and investment bankers• Corporate finance executives• Corporate development executives• legal and accounting professionals• management consultants
for the latest confirmed speakers updates获取最新的演讲嘉宾资料
John Zhao Founder & Ceo, honY CApitAl senior vp & executive Director legenD holDings
赵令欢总裁,弘毅投资,
执行董事、高级副总裁,联想控股
Jie gong executive DirectormorgAn stAnleY AlternAtive investment pArtners龚洁执行董事摩根士丹利AIP私募股权基金
suyi Kim senior principalCpp investment BoArD金秀咿资深董事加拿大年金计划投资亚洲委员会
Judy Ye Director and head emAlternAtives AsiA managing partner Yimei CApitAlJudy Ye 董事, emAlternAtives AsiAmanaging partnerYimei CApitAl
tom Doctoroff north Asia Area Director greater China CeoJwt唐锐涛北亚区域总监,大中国区首席执行官,智威汤迅中乔广告有限公司
Corporate Leader 企业领袖
Keynotes 主旨演講
Andrew liu managing partner & Ceo, AsiaunitAs CApitAl廖骏伦执行合伙人兼行政总裁,亚洲区unitAs CApitAl
tony C. luh Founding managing partnerDFJ DrAgonFunD ChinA陆景锴创始合伙人德丰杰龙脉中国基金
James mi managing DirectorlightspeeD venture pArtners宓群董事总经理光速创投
mark Qiu Ceo & managing DirectorChinA renAissAnCe CApitAl investment inC. (CrCi)邱子磊行政总裁及董事总经理崇德投资
homer sun managing DirectormorgAn stAnleY privAte eQuitY AsiA孙弘董事总经理摩根士丹利亚洲私募基金
Frank tang CeoFountAinvest pArtners唐葵总裁方源资本
sebastiaan C. van den Bergmanaging DirectorhArBourvest pArtners (AsiA) limiteD 高峻董事总经理harbourvest
patricia m. Dinneen managing Director siguler guFF & CompAnY llCpatricia m. Dinneen 董事总经理尚高资本
peng Zhao head of ChinapArtners groupJudy Ye 赵鹏中国首席代表合众集团
maarten ruijs managing partnerCvC CApitAl pArtners
André loesekrug-pietriChairman & managing partnerA CApitAl group龙博望创始人及董事长A CApitAl group
ChinA BAnKing regulAtorY Commission
中国银行业
监督管理委员会
Regulatory 监督管理
James h. Boettcher general partnerFoCus ventures包泽民执行合伙人FoCus ventures
shirley Chen managing Director & head of private equityChinA internAtionAl CApitAl CorporAtion ltD陈十游董事总经理、直接投资部主管中国国际金融有限公司
York Chen Founding managing partneriD teChventures ltD.陈友忠创始管理合伙人智基创投股份有限公司
grant Kelley head of AsiaApollo gloBAl reAl estAte mAnAgement
henry Chenpartner, Co-head of AsiapermirA ADvisers陈林正合伙人及亚洲联席总裁permirA
Fredrik Åtting senior partnereQt pArtners欧庭高级合伙人殷拓集团
Kai Fu lee Chairman & Ceo, innovAtion worKs李开复董事长兼首席执行官创立创新工场
hiro mizunopartnerColler CApitAl 水野宏投资合伙人科勒资本
day 1: Thursday, 26 May 20118:30 Registration and refreshments 9:00 Welcome remarks
THEME 1: THE GLOBAL OUTLOOK FOR PRIVATE EQUITY
9:05 Opening keynote address: China PE’s role in the global portfolios in 2020
9:30 International PE leaders’ panel: The key changes and trends for private equity over the next decade
The GFC overturned the way we invest in every asset class –includingprivateequity.Withahaltingrecoveryunderway,nowisthetimetoconsidertheplaceofPEintheneweconomiccycle.HasPEanychancetoreturnto,orevensurpass,itsglorydayspriorto2008?Whichmarketsandinvestorswillsettheagendaandstandardsfortheindustrygoingforward?SeasonedexpertsrevealthemostimportanttrendsforPEinthe2010s.
•Are there still liquidity issues in the market, and how is theindustrydealingwiththem?
•HowwillDodd-Frank in theUS, theEU’snewfund lawsandotherlegislativechangesaffectthePEinvestmentlandscape?
10:30 Networking coffee break
10:50 Fireside chat with industry veterans: Will China become the world’s largest PE market by 2020?
After spending the entire post-war period in the shadow of theWest,Chinahasemergedfromtheglobalfinancialcrisisasthehottestinvestmentdestinationandthenewmarketineveryone’ssights, with huge foreign currency reserves and a slate of newnationalchampionshungry forexpansion,athomeandabroad.Someindustryveteranshaveevenclaimedthatitcouldhavetheworld’sbiggestPEmarketwithinadecade.Isthisfeasible?Andifso,howwoulditaffectPEworldwide?
•WhatcanChinalearnfromtheUSandEuropeanexperience? •HowcanChinaavoidthetrapthatJapanhasfallenintopost-war? •What policies does China need – currency convertibility,
11:35 LP leaders’ panel: How will GP/LP relations and future allocation change?
Thepast18monthshaveseenaflighttoqualityandacompletere-assessment of fund models, managers and opportunities.Evenhotandhigh-growthmarkets likeAsiahaveseengreaterdemands on PE professionals from their LPs. As marketscontinuetostabilize,thetimeisrighttoassesswhatLPswantinfutureandwhatprivateequitycandeliver.
reasonable?Isreformneeded? •What is the role of leverage in performance post-GFC? How
shouldLPstreatit?
12:20 Experts’ debate: Control investment versus growth capital: Which will dominate the future China market?
12:50 Networking lunch
THEME 2: CHINA’S PE FUTURE: MARKET CHARACTERISTICS, M&A DYNAMICS, RMB FUNDS AND SOURCES OF CAPITAL
13:50 CEO dialogue: The China market, brands and consumers in 2020
China’s surging economy and rising disposable incomes, theemergenceofnewmarketsegmentssuchasfemaleconsumersandtheyoung,andthenationalpolicyshift towardspromotingdomestic consumption, are all bolstering investment intothe country. As international brands continue to roll out theirofferings and try to build market share, they are seeing localpeerssteppingforwardasstrongcompetitors.HowwilltheChinaconsumermarketdevelopoverthenexttenyears?
•How will Chinese consumer businesses grow and investoverseas, in types of business, modes of entry and marketgrowthapproaches?
14:35 Will China be able to build globally recognised brands by 2020?
TomDoctoroff,NorthAsiaAreaDirectorandChinaCEOat topglobal ad agency JWT and recognised authority on the Chinaconsumermarket,outlinesthefutureofChinesebrands.
15:05 China M&A in the 2010s: From a destination to an initiator
ChinaislookingincreasinglytoM&Atocapturetheenergyandresources it needs to fuel its robust economic growth, as wellasthemanagementknow-how,R&Dcapabilitiesandaccesstoforeign markets to move its labour-intensive economy up thevaluechain.Seasoneddeal-makersoutlinetheChinaM&Astoryforthecomingdecade:
16:05 The RMB debate: Is RMB investing essential to success in China?
As most of the world’s leading name-brand PE firms eithercontemplateorcreatetheirownRMBfunds,LPsandthemarketasawholeisgrapplingwiththemeritsandchallengesofthesenewvehicles.TheChineseauthoritiesclearlywanttoencouragethem, and are even prepared to allow global institutions toparticipatetohastentheirmaturity.Butwhataretheirtruemeritsandbenefitsforinternationalplayers?
programme Simultaneous interpretation in Chinese and English
16:50 Private equity as a driving force for economic transition and corporate social responsibility in China
17:20 Fundraising: New capital, investors and channels in the next investment cycle
The GFC has introduced new priorities and risk/rewardassessmentsintoglobalinvesting.Oldinstitutionshavelosttheirpowerasnewones increasinglyset theagenda.Andwithnewinvestorsandnewvaluecasescomenewstrategies toengagethemasthe‘newnormal’takeshold.
09:30 Exits: New tactics, new channels China has seen some remarkable exits over the last year,
especiallyontheturbochargedShenzhenChiNextgrowthboard.Meanwhile,ChinalistingscontinuetolightuptheHKSE.Butthemarkethasalsobeenconspicuouslyvolatile,withmanykeyPE-backed listings trimmed or withdrawn. What should GPs andadvisorsdotoexitwellintheyearahead?
10:20 VC: Winning strategies for a highly fragmented game Venture investors no longer rest on their laurels – if they ever
did – and most now seek hands-on operational improvementsto supplement money and financial wizardry at their investeecompanies. In China’s highly fragmented and regionalised VCgame,theGPswhocanlearntobuildandsupporthigh-growthcompanieswillbethewinners.
•What are China’s hottest venture sectors? Biotech?Cleantech?Web2.0?Whataretheirgrowthdriversandthekeyconstraints?
•Examplesofvaluecreationstrategies •Risk/returnprofilesacrossdifferentdealstages •Is the VC market too fragmented and over-invested? Will it
consolidateinthemediumterm?
11:00 Networking coffee break
11:20 Case study: GP/entrepreneur engagement and value creation
11:50 Investing in SOEs: Mission Impossible? AsmanyleadingSOEsbusythemselveswithplansforoverseas
expansion and acquisitions, some are sitting waiting forconsolidationoroutsidestimulus.AsmallselectgroupofChinaGPs have developed the skill sets and relationships needed toworkwithandinvestwiththem.Theopportunitysetisenormous:soarethechallenges.
5 easy ways to register• Online registration at http://www.avcjchina.com/book-now.html• E-mail to [email protected]• Call Anil Nathani at +(852) 3411 4938• Fax the completed registration form to +(852) 3411 4948, OR• Mail it to: 20/F, Tower 2, Admiralty Centre, 18 Harcourt Road, Admiralty, Hong Kong
Cancellation / refund policy: A cancellation charge of US$300 is applicable to written cancellations received on or before 12 May 2011. No refund will be made for cancellations after the date due to the costsassociated with administering the conference. Pay in advance: We will include registrants’ names on the official delegate list should we have received your registration fees on or before 19 May 2011. All payments should be made prior to the events. Regrettably, no entrance will be permitted for payments not received before the events take place.取消预订与退款原则说明:取消预订席位须于2011年5月12日之前或当日,以书面形式提出取消申请,300美元注册费将如数奉还。逾期将不与办理,还请见谅!预付费原则:参会费用请于2011年5月19日之前或当日付清,以便我们为您办理其余参会事宜。所有本次参会嘉宾均须提前付清款项后,方可入场。
I enclose a cheque payable to AVCJ Group Ltd. 附上支付给 AVCJ Group Ltd. 的支票。
I will arrange a bank transfer to HSBC, One Queen’s Road Central, Hong Kong: A/C# 004-502-118953-001 (SWIFT code: HSBCHK HHH KH) Any bank charges must be prepaid. Please fax a copy of the transfer slip to +(852) 3411 4999 or +(852) 3411 4948 我将安排银行汇款至HSBC,香港中环皇后大道中一号:帐户号码:004-502-118953-001 (SWIFT code: HSBCHK HHH KH) 所有的银行费用须提前支付。请将转帐单传真一份至:+(852) 3411 4999或+(852) 3411 4948
Please charge my credit card: (US$/HK$) 信用卡支付: (美元/港币) Visa MasterCard American Express
Note: Credit card payment is subject to a 5% surcharge. 注意:信用卡支付将额外加收5%
Registration Details 注册详情
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I plan to attend the Evening Cocktail Reception on Thursday, 26 May at 18:05 (Ballroom Foyer, The Park Hyatt Beijing)我打算参加5月26日,星期四晚上18:05的鸡尾酒欢迎宴 (大宴会厅迎宾区,北京柏悦酒店)
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Booking Details 预订详情 Early Bird Rate before 18 April 2011 提前注册(在2011年4月18日之前) US$1,695 / HK$ 13,200 Standard Rate after 18 April 2011 标准会费(在2011年4月18日之后) US$1,995 / HK$ 15,500 Group Rate Only applicable to second and additional registrants from the same office. US$1,495 / HK$ 11,600
团体会费只适用于同一机构的第二次或多次注册
Chinese Domestic Company Rate Only applicable to pure domestic Chinese companies without offices outside China or in Hong Kong. US$1,095 / HK$ 8,500 中国内地公司、机构价格仅适用于没有在中国境外或香港办事处之纯中国本土公司或机构 Fees include two-day conference, refreshments and lunch, evening reception and all conference documents.费用包括两天的会议,茶点和午餐,一天的鸡尾酒会以及会议的所有文档材料。
Venue and Accommodation 酒店预订详情Park Hyatt, Beijing 北京柏悦酒店2 Jianguomenwai Street, Chaoyang District, Beijing 100022, People’s Republic of China / www.beijing.park.hyatt.cnA limited number of rooms at the Hotel have been reserved at a special rate of RMB1,600 per room per night (Room rate is subject to room availability, Service charge not included) for AVCJ Forum participants on a first-come first-serve basis. Please book your room directly with the hotel and identify yourself as an AVCJ Forum participant to qualify for the rate.
Please note AVCJ Private Equity & Venture Forum does not bear the responsibility for participants’ travel and accommodation arrangements.
Room Cancellation: To cancel your room, please contact the hotel directly with a minimum 48 hours notification. Late cancellation or “no show” (equivalent to the full duration of stay) will be automatically posted to the individual credit card by the hotel.