11
Nov
Valuations: The great expectation
The market is still navigating a macro environment defined by a valuation gap and compressed traditional exit runways. Businesses built on pre ChatGPT assumptions may face accelerated obsolescence, while AI-enabled companies require different underwriting approaches given their scalability, capital intensity, and often uncertain monetisation timelines. Valuing a business today is complex and requires pricing in structural technological disruptions and navigating a rapidly maturing liquidity ecosystem.
- What methodologies are being employed to accurately value portfolios?
- What are some of the acute challenges in underwriting for companies that may be at risk against AI?
- Are managers turning to alternative sources of liquidity like secondaries and NAV financing?
- Will today’s valuation and exit landscape create future distressed opportunities?
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SpeakersDominic Soon Head of APAC Credit Research Debtwire
Richard McDade Managing Director ADM Capital
Zi H. Cheng Director Houlihan Lokey
Ali Abbas Alam Asia Head of Leverage Finance Capital Markets, DCM and Private Credit Jefferies
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Dominic Soon is Head of APAC Credit Research at Debtwire in Hong Kong and has 17 years of experience across Asian fixed-income markets. He specialises in high-yield, distressed debt and special situations and is responsible for a team of analysts that provides fundamental, bottom-up credit research.
Prior to joining Debtwire, Dominic was an Investment Analyst at a global multi-strategy fund, where he covered Chinese and Southeast Asian credits and convertible bonds. He also has been involved in several APAC restructuring processes spanning multiple jurisdictions.
Dominic holds a BSc in Accounting & Finance from the London School of Economics and an MSc in Accounting & Finance from Bayes Business School. He is a CFA charterholder
Mr. McDade is a Managing Director on the Investment Team at ADM Capital and a voting member of the Investment Advisory Committee. He has over 19 years’ experience in special situations lending and restructuring across Asian credit markets, and oversees the firm’s investments in Vietnam, Indonesia, Malaysia and Singapore. Prior to joining ADM Capital, he was Head of Structuring at Double Haven Capital (Hong Kong), focusing on distressed debt, special situations and private lending, and previously worked in the Restructuring team at Clifford Chance (Hong Kong).
Mr. Cheng is a Director in Houlihan Lokey’s Financial and Valuation Advisory business. He specializes in advising a diverse base of alternative asset investors, including hedge funds, private equity funds, venture capital funds, business development companies, limited partner investors, and corporations, on valuing illiquid securities throughout the capital structure. Mr. Cheng is based in the firm’s Hong Kong office. Before joining Houlihan Lokey, Mr. Cheng was an investment professional at various investment funds. Mr. Cheng holds a B.A. in Economics from Princeton University.
Ali Abbas Alam is Asia Head of Leverage Finance Capital Markets, DCM and Private Credit, based in Singapore at Jefferies Financial Group.
Ali has more than 29 years of experience in Private Credit, Investment Banking, M&A, Capital Markets and Corporate C-Suite roles.
Ali joined Jefferies from Ares Capital Management, where he focused on private credit transactions in South East Asia. Prior to Ares, Ali was with Credit Suisse for 16 years in Singapore. He was founding member and co-head of the Credit Suisse Asia Financing Group.