AVCJ Private Equity Forum Singapore 2024
The Westin, Singapore and Online
25
Apr
Asian LPs: Adapting to a new reality
Asia’s LP pool is deepening – institutional players are growing in size and sophistication; family offices and private wealth channels are increasingly accessible – yet market conditions are to some extent constraining commitments. Given concerns about performance and a widespread desire for more concentrated portfolios, manager selection has never been more important. Seasoned investors explain where they are putting their money and why.
- Have terms and conditions re-aligned to the benefit of LPs?
- Which geographies and strategies are most popular in 2024?
- How does LP maturity and type influence portfolio priorities?
- Have LPs re-written pacing models and assumptions on returns and distributions?
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SpeakersPang Lee Partner COOLEY LLP
Saima Rehman Investment Officer, Private Equity Funds, East Asia Pacific IFC
Sean Low CEO GOLDEN VISION CAPITAL
En Yaw Chue Chief Investment Officer AZALEA INVESTMENT MANAGEMENT
Ruoyu Han Director, Investment Advisory Department JAPAN POST INVESTMENT CORPORATION
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Pang Lee is a partner in the Shanghai office of Cooley LLP and the founding partner of CYL & Partners, a firm of Hong Kong solicitors which practices in association with Cooley HK, a HK registered law firm. His practice is focused on the formation and operation of various private investment funds, with a focus on venture capital funds, buyout funds and investment advisory businesses. He has been involved on behalf of sponsors and investors in the formation of some of the largest and most active funds and managers in the region. His practice is focused particularly on fund managers making investments around the Pacific Rim, with an emphasis on Greater China, Southeast Asia and India. Pang also has experience advising clients on a variety of issues including carried interest arrangements, co-investments and strategic joint venture arrangements.
Pang is a regular speaker and moderator at venture capital industry conferences.
Pang received his JD from the University of Pennsylvania Law School and his BS in Biology from Massachusetts Institute of Technology. Pang is fluent in English and is a native Cantonese speaker. He is admitted to practice in New York and Hong Kong.
Saima Rehman is responsible for leading investments in private equity and venture capital funds, and managing portfolio in the East Asia Pacific region. Before joining the Funds group, her experience covered principal investments, syndications and structured finance covering South Asia with IFC and prior to that with IDLC Bangladesh. She has an MBA from INSEAD.
Golden Vision Capital (Singapore) is a new Single Family Office set up in Aug 2021 to make PE and VC direct investments in Southeast Asia, leveraging on the family and team’s strong business connections in the region. It also invests in leading PE Funds, and co-invests alongside them. Its CEO Sean Low, CFA is an industry veteran with 25 years of deal sourcing, investment and business development experience, including 17 years in the PE & Infrastructure department of GIC, Singapore's SWF, where he helps to oversee GIC's PE, Infra, Private Debt & VC investments in US, Europe and Asia at different times, and took part in some of GIC’s landmark deals in each region. He played a leading role in expanding GIC’s private debt program, and last served as an active member in GIC Credit Business group which help review GIC’s overall credit investment strategy across public and private markets. Sean was also senior advisor to Yangzijiang Financial Holdings Limited (ww.YZJFIN.com), an investment management Firm listed on SGX with NAV in excess S$4b. He advised its Investment Committee on PE and Private Credit portfolio construction, funds and deals selection and risk management.
Sean began his career in Singapore Economic Development Board (EDB), after he was awarded the EDB Scholarship in 1993. He served first as Assistant Head of InfoComms & Media group, and then as Director of Chicago Centre. Sean currently chairs the Investment Committee at CFA Singapore, and was elected the Treasurer of Singapore's VC & PE Association in 2021. He graduated from Trinity College, University of Cambridge with BA (1st Class Honours), MA and M Eng. (Honours). He completed National Service in Singapore as a commander of a Brigade Reconnaissance Team in the Singapore Army.
Mr CHUE En Yaw is the Chief Investment Officer at Azalea Investment Management Pte. Ltd. and leads the investment team. He is a key member of the team that successfully launched the Astrea transactions and Altrium programmme. Mr Chue joined the Azalea Group in 2018 and was deeply involved in the Astrea Platform since 2014.
Mr Chue joined Temasek in 2010 and was a senior member of the Private Equity Fund Investments team covering fund relationships in Asia as well as global secondaries. At Temasek, Mr Chue played a key role in the launch of the Astrea II transaction in 2014. Prior to joining Temasek, he was with Standard Chartered Private Equity and JAFCO (Asia) Investment for almost 10 years. He started his career as an auditor with Arthur Andersen LLP in 1997. Mr Chue is a Chartered Accountant and a CFA charterholder.
Ruoyu is a Director of Asia Investments for Japan Post Investment’s private equity fund investment advisory program. Before being assigned to Japan Post Investment, he was involved in the Asia private equity investment program in Japan Post Bank. Prior to joining Japan Post Bank in February 2022, he contributed to private equity fund investment, private debt fund investment, structured finance, and corporate finance at Sumitomo Mitsui Trust Bank, in both Tokyo and New York offices. He holds a M.A. in Economics and a B.A. in Liberal Arts, from Waseda University in Japan.