22
Sep
The LP view: Moving beyond the noise
China’s private equity market has moved past its lowest point, and as geopolitical and fundraising anxieties ease, LPs are refocusing on investment fundamentals. A new dynamic is taking shape: domestic government funds remain highly active, while Middle Eastern and non-North American LPs are accelerating deployment. Meanwhile, a growing secondaries market is allowing investors to find liquidity and reshuffle portfolios into non-sensitive sectors. Are LPs ready to deploy capital at scale, or are they still waiting on the sidelines? Our panel of investors will assess the current landscape and discuss their strategies for the market.
- What will trigger the next wave of global capital returning to capture China’s rebounding growth?
- How will the continued institutionalization of active domestic RMB capital redefine the local investment ecosystem?
- How is the secondary market revitalizing the ecosystem as portfolios reshuffle into resilient, non-sensitive sectors?
- How are GPs evolving their strategies to meet increasingly sophisticated LP expectations and capture sustainable alpha in the China market?
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SpeakersLu Chai Corporate/Transaction Partner Han Kun Law Offices LLP
Doris Guo Partner Adams Street Partners
Jea Young Huh Manager, Financial Institutions and Funds Clients Department, Global Asian Infrastructure Investment Bank
Eric Wong Head of Alternative Investments BOC Life
Ellen Min Executive Director - Investments Lexington Partners
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Ms. Chai's practice focuses on public and private mergers and acquisitions transactions, private equity transactions and securities offerings and exchange listings. She has advised a number of clients in Greater China on cross-border M&As, SEC-registered and non-registered securities offering and listings on the Stock Exchange of Hong Kong. She also advises clients on ongoing regulatory and reporting requirements. Ms. Chai has represented many Chinese and international clients in a broad range of transactions in different industries, including financial services, insurance, telecommunications, TMT, consumer goods, mining, power and energy, manufacturing, and healthcare. Prior to joining Han Kun, Ms. Chai served as the general counsel of a private equity firm. Prior to that, she practiced in the Hong Kong and New York offices of Sullivan & Cromwell LLP.
Ms. Chai graduated from Northwestern University School of Law with a Juris Doctor degree. She received her Bachelor of Arts degree in English language and literature and Bachelor of Economics degree in business administration from Tsinghua University.
Doris (Partner) is responsible for all aspects of the primary investment process, including fund selection, due diligence, negotiations, monitoring, and general partner relationship management within China.
Prior to joining Adams Street, she was a Senior Associate for Adveq Investment Management Co. Ltd., a global private equity firm, responsible for sourcing and executing growth/buyout funds and secondary investments in China and Japan. Prior to Adveq, she focused on direct investment activity for C.V. Starr Investment Advisory Asia Ltd.
Doris was named one of Private Equity International (PEI)’s 40 under 40: Future Leaders of Private Equity.
Jea Young Huh oversees AIIB’s global infrastructure private equity and debt funds, venture capital funds, direct co-investments, and co-financings with financial sponsors within the Bank’s Financial Institutions and Funds Clients Department. Before joining AIIB in 2021, he spent 16 years at Korea Investment Corporation, where he held multiple leadership roles in both the Seoul headquarters and the New York office, including Head of Global Private Equity Investments and Head of Global Real Estate Investments. His previous experience also includes roles at Kyobo Life Insurance, Samsung Corporation, and Lehman Brothers in Tokyo. Huh holds an Master’s in Business Administration from Georgetown University’s McDonough School of Business and a BA in Japanese and Economics from Hankuk University of Foreign Studies in Seoul.
Eric Wong has 20 years experience in finance and joined BOC Life as head of Alternative Investments in 2022. Before that, he spent most of his career in leveraged & structured finance and investment banking with BOC International, direct investment in Asia private credit (Dignari Capital) and China private equity (ABCI).
Mr. Wong holds a master degree in global finance from NYU Stern/HKUST, and a bachelor of arts degree from CUHK, majoring in philosophy.
Ellen Min is an Executive Director on the Secondary investment team primarily focused on the evaluation and monitoring of non-U.S. secondary opportunities including partnership and GP-led transactions.
Ellen joined Lexington in 2021 from Morgan Stanley, where she was an associate in investment banking, in Hong Kong.
She graduated from Indiana University, Kelley School of Business with a BS in Accounting and Finance and from Duke University with an MA in Economics.