Agenda09.30 - 10.15CST
Chinese healthcare investments witnessed a slowdown due to a series of COVID-19 curbs, regional tensions, and updated policies. The long-term importance, defensibility and attractiveness of this sector however has not diminished, and investors are returning to companies in the sector. Hot spots include innovative medications in the pharmaceutical sector and biotechnology startups. Our panel of healthcare experts will assess the industry outlook and provide their predictions for the next 12 months.
10.15 - 11.00CST
- How have private equity and venture capital investments in healthcare fared in the past year, and where are the continued opportunities in the sector?
- How will regulatory policy changes affect dealmaking in the sector?
- What are some potential sub-sectors that investors should be on the lookout for?
- How are GPs applying AI and machine learning into their companies in the healthcare sector?
The challenging macro condition have affected private exits in China as GPs pivoted from tried-and-true strategies and focused on selling to those that truly understand the opportunity…other GPs. According to AVCJ Research, secondary exits accounted for 55.9% of total Chinese PE exits from just 16.3% in 2021. By contrast, the more traditional routes of trade sales and IPOs accounted, respectively for 28% and 15% of 2022’s $4.8 billion tally. Will exits may quickly bounce back in 2023/24 as economy improves, GPs get more comfortable with secondary deals and IPO market returns. Our panel discuss the outlook for exits in China.
11.00 - 11.30CST
- How are GPs and LPs looking at exits and generating liquidity during uncertain times?
- Will secondary transactions become the mainstream of deal flow? What are the challenges and how did the players overcome?
- Will M&A exits become more common due to regulatory restrictions and the long IPO backlog?
Networking break11.30 - 12.15CST
Private credit is seeing phenomenal growth across the globe and it is no exception in China. Filling the gap created by banks becoming more risk adverse is becoming even more pertinent in a challenging economic environment, but credit investors in China also need to be flexible. An influx of sub-strategies – offered by specialists, multi-asset managers and technology platforms – means investors (and companies) have more access points than ever before. Our panelists share their views on how to navigate China’s vast and diversified market.
12.15 - 13.15CST
- What are the top-of-mind challenges for credit investors right now?
- How have credit strategies have been successfully deployed in China?
- How to capture the special situations, distressed assets and NPL opportunities appearing in some industries?
- What is the latest on venture debt in China?
Given the recent economic uncertainties across the globe, it comes as no surprise that LP sentiments towards investing into Chinese private equity and venture capital funds have been negatively impacted. While some institutional investors continue to do re-ups into existing managers to take advantage of the lower valuations, most are hesitant to invest in new managers and are taking a “wait and see” approach to allocating capital in the region. Our panel of investors will take stock of the current situation and discuss their strategies for the region.
13.15 - 14.15CST
- How do global LPs view the Chinese private equity and venture capital market in the long term, and will their investment strategies change? What strategies are they looking for?
- What changes are LPs expecting more from their GPs given the current climate?
- Will local RMB investors fill the void left by the usual USD investors?
- What is the role of secondaries?
End of conference and networking lunch
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