Danger Signals Ahead For Asian PE Firms – And It’s Not The Macro You Need To Be Worried About

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Professor Peter Goodson, Berkeley – Hass Business School and Retired Clayton, Dubilier & Rice Partner is speaking at SuperReturn Asia 2014, Hong Kong, 22-25 September. The following is a preview of Peter’s presentation on Day Two of the Main Conference, Danger Signals Ahead for Asian PE Firms and It’s Not the Macro You Need to Be Worried About…A Must Do for GPs: Develop Business-Building Competency or Face Extinction’

Are we approaching a code red situation for GPs without operational capabilities in a crowded and competitive environment?  Too much capital, in too few hands and targeting too short a list of tiny company’s spells trouble. Bad things happen when dry powder builds. Important regions are experiencing unexpected business cycles which dampen outlooks contrasted with pricey acquisition markets.  Sponsors have struggled with exits. Growth equity (aka minority ownership) often seems to be a convenient excuse for GP passivity, but not easy to justify two and twenty fees when one can invest in a liquid passive fund ownership strategies for pennies.

In an environment where GPs are under the microscope, light touch strategies based on monitoring results that have already occurred coupled with hands off board participation are no longer sustainable.

Growth equity is no excuse for ‘spectatorship’. The new imperative for GPs is to be able to demonstrate that you are earning your two and twenty.

Most growth market businesses are under performing to potential and cry for help from grizzled and granular operating experience. The session will examine these questions through the lens of real world examples:

  • How do local firm’s best build affordable and effective operating models?
  • What are winning strategies to drive change when you are only a minority investor?
  • How do you best record operational value attribution for LP’s to justify the two and twenty they pay you?

Download the conference programme and see the full speaker list at www.superreturnasia.com

 

Peter Goodson is a pioneer in the private equity discipline as an early stage partner at Clayton, Dubilier & Rice. CD&R specializes in accomplishing significant operational improvements at companies like Hertz, Lexmark and Home Depot. Prior to his private equity career Mr. Goodson was the founder of Kidder, Peabody’s M&A practice. “Retired” he is an award winning MBA Professor at the University of California’s Berkeley – Haas Business School, Chairman of the Value  Operations Board of  Mekong Capital, a  board member for the Tata Growth Fund and a fellow of Dartmouth’s’ Tuck Center for Private Equity.

60 Seconds With Stephen Hoey, KPS Capital Partners

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Stephen Hoey, Partner, Administration, Chief Financial And Compliance Officer of KPS Capital Partners shares some insights into what makes an ideal private equity CFO in our latest 60 Second interview. Extra due diligence – burden or a good long-term thing for the industry?  Both. It is certainly a burden for those of us on the GP…

5 Unmissable Guest Speakers At SuperReturn Asia 2014

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The SuperReturn Asia 2014 conference in Hong Kong, 22-25 September, promises a quality programme featuring 60+ LP speakers and only the very best GPs from the Asia-Pacific region. You can also expect to see and hear from experts from outside the industry, including these five inspirational guest speakers:   The Branding Expert Ken Segall Tuesday 23…

Evolution of the Secondaries Market – Andre Bourbonnais CPPIB

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André Bourbonnais spoke at SuperInvestor last year and will join us again in Paris this November. We caught up with André at the 2013 event to ask about CPPIB’s recent transactions and what the next 12 months will bring. How do you see the market for your particular type of investments? Last year you made…

Turning your Back Office into a Competitive Advantage

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As global alternative investment managers drive international operational improvements in their portfolio companies, are there lessons to be learnt and applied for GP operating models? Gordon Stuart, Chief Financial Officer of TMF Group, a private equity backed international professional services firm in over 75 countries, examines the challenges of cross-border operations. Sometimes in corporate life…

Ted Beneski – A Look At Insight Equity’s Acquisition Strategy

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60 Seconds With J. Daniel Parker of Helmsley Trust

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Private Equity Focuses On Africa

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The Clash of Historical Memory: The “Century of Humiliation” vs. the “Post- WWII Liberal World Order ”

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By David Blair This article was first published in China Currents, 2013: Vol. 12, No.2. The U.S. and China share many fundamental interests. Their economies are so tightly intertwined that any disruption would be extremely painful to both sides. There are no substantial, quantifiable disagreements between the two countries — meaning that there are no…

Asia Is The Place To Be: Opportunities in Asian Private Equity – Alberto Forchielli

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What does an expert in international business development think is the most compelling reason to invest in Asian private equity? We recently caught up with Alberto Forchielli of Mandarin Capital Partners at the SuperInvestor Asia 2014 conference, where he represented Cross Border Investment in the Big Debate: ‘Where Will The Best Returns Be Found Over…