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9월
사모 시장: 회복탄력성을 향한 길
거시경제 및 지정학적 압박이 딜 언더라이팅에 부담으로 작용하면서, 사모 시장은 장기적인 불확실성 환경에 진입했습니다. 이에 따라 투자자들은 비즈니스 모델의 회복탄력성, 진화하는 리스크 요인, 그리고 엑시트 시나리오 설계에 초점을 맞추며 자본 배분 기조를 더욱 보수적으로 전환하고 있습니다. 보유 기간이 길어지고 유동성 확보에 대한 요구가 지속됨에 따라, 기존 포트폴리오 전반에 대해서도 동일한 의문들이 제기되는 상황입니다. 결국 운용사들은 그들이 전략적 원칙을 고수하면서도 상황에 적응하는 과정 사이에서 균형을 잘 유지할 수 있다는 것을 보여줘야 합니다.
- 외부 변동성에 대응해 내부 프로세스가 변화했는가?
- 지역과 자산군에 따라 리스크 프라이싱은 어디까지 변화하고 있는가?
- 향후 12개월간 유동성 전망은 어떻게 되는가?
- 글로벌 맥락에서 아시아, 그리고 한국은 어떤 위치에 있는가?
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SpeakersTim Burroughs Managing Editor, Global Private Funds, and Managing Editor, AVCJ Mergermarket
Michael Taylor Partner & Co-Head of Co-Investments Adams Street Partners
Yan Yang Managing Director, Head of APAC Investment BlackRock Private Equity Partners
Saurabh Chatterjee Managing Director ChrysCapital
Jin Oh Partner Goodwater Capital
Tadasu Matsuo Managing Director, Head of Global Alternative Investments Japan Science and Technology Agency (JST)
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Tim Burroughs is managing editor of Asian Venture Capital Journal, having joined the publication in May 2011. He is responsible for all editorial content put out under the AVCJ brand, including Asian Venture Capital Journal, AVCJtv, AVCJ Awards and AVCJ.com. Tim previously spent five years at China Economic Review, serving as editor-in-chief and then editorial director. Located in Greater China since 2003, during which time he has lived in Beijing, Qingdao and Hong Kong, Tim has been a China-based contributor for publications including The Sunday Times, Sunday Telegraph, BBC and China Daily. Prior to moving to China, he trained and worked as a journalist in the UK. He was honored at the Society of Publishers in Asia awards in 2007, 2008 and 2010, and at the State Street Institutional Press Awards - Asia in 2012.
Mike is a member of the Co-Investment Team. In this role he sources, screens, executes, monitors, and coordinates the exit of co-investments.
He joined the Adams Street Co-Investment Team in 2020 after spending eight years as a member of the Adams Street Primary Investment Team.
Prior to joining the firm, he worked at Bank of America Merrill Lynch as an Investment Banking Analyst within their Global Industrials Group. His work focused on the automotive sector.
Mike is a member of Adams Street’s Co-Investment Committee and New Product Committee.
Mr. Yan Yang, M.D., CFA, CAIA, Managing Director, is Head of APAC Investment of BlackRock Private Equity Partners within BlackRock Private Financing Solutions (“PFS”).
Prior to joining BlackRock in 2011, Mr. Yang had worked at China Investment Corporation ("CIC") in Beijing where he was covering primary PE funds, direct co-investments and secondary investments globally. Prior to CIC, Mr. Yang worked at GE Asset Management and managed U.S. private equity assets, both funds and co-investments, for the GE Pension Trust. Mr. Yang started his career at GE Healthcare's information technology business.
Mr. Yang holds a MD degree in Clinical Medicine from the Peking Union Medical College, and an MBA from the Robert Emmett McDonough School of Business at the Georgetown University.
Saurabh Chatterjee is a Managing Director at ChrysCapital where he manages the Fundraising and LP Relations functions, and is also a voting member of the firm’s investment committee. Prior to joining ChrysCapital in 2016, he was with Providence Equity Partners’ investment team in their New Delhi Office. Before Providence, he worked at the Boston Consulting Group and CIVC Partners, a Chicago-based middle market private equity firm. Saurabh received an MBA from Kellogg School of Management and a BA in Economics from Carleton College.
Jin is an Investing Partner at Goodwater Capital. He supports Goodwater’s global investment efforts, with a particular focus on the Asia Pacific region.
Jin was previously an executive at Toss, where he joined as an early employee. He helped the company raise capital from global investors and make critical acquisitions, propelling Toss to over $1B of revenue within four years. Toss today is the leading fintech platform in South Korea, serving over 40% of the population monthly.
Prior to joining Toss, Jin was a Principal at NamuCorp, a private equity firm focused on global buyouts of financial services companies. Jin started his career in investment banking at BMO Capital Markets and MergerTech Advisors, focusing on TMT.
Tadasu Matsuo leads JST’s alternative investment from January, 2022.
Before joining JST, he led HarbourVest Partners Japan as a managing director and co-head from April, 2020. As a head of alternative investment, he oversaw Japan Post Insurance’s alternative investment, ranging from private equity and infrastructure funds to real estate and hedge funds since September 2016. Before joining JP Insurance, he headed Daido Life’s alternative investment.
Served as Senior Managing Director, he also engaged in private equity fund investment and headed a business development of Alternative Investment Capital (AIC), a leading private equity FOF manager and gatekeeper in Japan. Before seconded from Daido Life to AIC, he managed Daido Life's private equity and other alternative investment for five years. Previously he was in charge of group's business development and investor relations at T&D Holdings, a listed holding company of Daido Life.
Prior to joining Daido Life, Mr. Matsuo held such posts as Director and Managing Director and served as an M&A advisor to various insurers' transactions at PwC Financial Advisory Services Japan from 1999 to 2002. Earlier in his career, he worked for Nippon Life Insurance Company for 13 years, where he managed overseas sovereign credit loans and investments.
Mr. Matsuo received his MBA from Duke University and BA in Economics from The University of Tokyo. He passed the US CPA exams.