26
Apr
New sources of capital: Democratisation of private equity
There are grounds to believe that the current macroeconomic landscape could advance the introduction of mass-market individual investors into private equity. With the influx of family offices and private wealth platforms in the region, and amid a more difficult fundraising environment, fund managers might be more interested in accessing this untapped investor base. As often is the case, technology and regulation play a part and our panel considers the long-term implications of democratising access to private equity.
- What is the role, both good and bad, of technology platforms in democratisation?
- What needs to be done on the regulatory/reporting front?
- Which sectors and strategies get the most traction with these investors?
- Are semi-liquid products the best way to reach the mass affluent?
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SpeakersHerbert Suen Head of Private Wealth Solutions Asia BLACKSTONE
Oi-Yee Choo Chief Executive Officer ADDX
Victor Jung Managing Director, Head of Digital Assets HAMILTON LANE
Sean Low CEO GOLDEN VISION CAPITAL
Bertrand Ng Senior Vice President ICAPITAL
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Herbert Suen is a Senior Managing Director in the Private Wealth Solutions group and is based in Singapore.
Before joining Blackstone, Mr. Suen worked at Barclays Wealth as Head of Managed Products in Asia. Prior to Barclays, Mr. Suen worked at Credit Suisse overseeing Fund-based advisory portfolio solutions for private wealth clients. Before that he also worked at Societe Generale Corporate & Investment Bank, Franklin Templeton and Mitsubishi Corporation in various capacities including financial engineering and business development.
Mr. Suen received a Master of Science (with Distinction) in Mathematics for Finance & Actuarial Science jointly from Paris Dauphine University and City University of Hong Kong. He graduated from Curtin University of Technology with a Bachelor of Science in Computer Science and a Bachelor of Arts (with Distinction) in Asian Studies. He is a CFA charter holder and a certified FRM. He speaks fluent English, Cantonese, Japanese and Mandarin.
Oi-Yee was appointed CEO of ADDX in March 2022. She has 20 years of capital raising and M&A advisory experience. Before joining ADDX as Chief Commercial Officer in January 2020, Oi-Yee was with UBS for 6 years, and was Head of Investment Banking for UBS Singapore. She joined UBS from Morgan Stanley, where she was Head of Singapore Investment Banking. Prior to Morgan Stanley, she ran the Southeast Asia real estate investment banking franchise for Nomura Singapore. She started her investment banking career with Citigroup, covering Singapore corporate and real estate clients.Between 2006 and 2008, Oi-Yee was Senior Vice President, Strategy and Business Development, for Parkway Holdings, the largest healthcare company in Asia, and helped create the Parkway Life REIT. Oi-Yee graduated from Nanyang Technological University with a Bachelor of Accountancy. She also has a Master of Business Administration from Manchester Business School.
Victor Jung is a Managing Director and Head of Digital Assets based in Zug where he leads technology and digital initiatives in relation to products, assets, clients, distribution channels, and applying diverse technologies.
Prior joining Hamilton Lane, Victor was Head of Liquid Private Markets and Distribution Partners APAC and Head of Client Solutions Southeast Asia, Hong Kong and Taiwan for Partners Group based in Singapore. Victor started his career at KB Asset Management as an investment manager in the Alternative Investment Division. Victor is a thought leader in the fintech/wealth tech industry having led market’s first digitized private markets solutions via partnerships with leading fintechs throughout his career.
Victor holds a B.A. in Politics and International Relations from Korea University. He is a Certified Commercial Investment Member (CCIM).
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.
Bertrand joined iCapital in January 2022 as Senior Vice President on the Client Solutions APAC team, where he is responsible for building the enterprise sales cycle for Southeast Asia and Australia.
Bertrand began his career at JPMorgan Private Bank where he spent more than 12 years across multiple roles in Singapore and Hong Kong. He began his career as an Investment Specialist in Singapore and subsequently moved to Hong Kong when he was appointed the Chief of Staff to the International Private Bank CEO. In that stint, he was responsible for starting up what is now known as the single-coverage model for the Private Bank in Asia. Bertrand moved back to Singapore in 2018 as an Alternative Investments Specialist for South Asia and was also the designated media spokesperson for Singapore.
Bertrand holds a Bachelor’s degree in Business Management from Singapore Management University (SMU).