GPCA Southeast Asia Members Meeting & Reception
21 September 2023
Marina Bay Sands, Singapore
GPCA hosted its third Southeast Asia Members Meeting of the year and annual Singapura Sundown Reception on 21 September 2023 in Singapore, with over 110 attendees, including invited guests from the investment community and government.
The meeting featured a research presentation with key takeaways from GPCA’s Mid-Year 2023 Industry Data & Analysis, and an investors panel with Edward J. Grefenstette (The Dietrich Foundation), Sharon Liang (Siguler Guff), Sudhir Variyar (Multiples Alternate Asset Management), Craig Thorburn (Future Fund) and Srini Nagarajan (British International Investment) moderated by GPCA CEO Cate Ambrose, with closing remarks by GPCA Asia Council Chair Brian Lim.
Discussion points include:
- Going forward it will be more difficult to generate private capital returns, leaving less room to accommodate execution, geopolitical and currency risks.
- The pendulum has swung back to LPs in LP-GP negotiations, and many institutional investors are striving for “true partnerships” with managers.
- Many LPs are currently taking a pause on actively deploying in China but acknowledge that the current moment may represent an attractive entry point for select opportunities.
- Chinese investors are shifting attention and resources to Southeast Asia, and there could be attractive synergies between the two markets. The local context in Southeast Asia is different, however, and investors will have to adapt their approaches.
- While the attention on India is creating good momentum around fundraising, investors are looking to stay disciplined to achieve success over a long-term time horizon.
- Talent management at the portfolio company level is a key focus for fund managers, as well as institutional investors and development finance institutions doing direct deals.