THE PERE FORUM: ASIA 2009
Realty check: Back to basics?
Day One, Wednesday, February 11, 2009
8:00– 8:45
Registration & Continental breakfast
8:50 – 9:00
Welcome from PERE magazine and Chairman’s introduction
David Hawkins, Co-founder, PEI Media
9:00 – 9:30
Keynote address: Making the most of market dislocations in Asia today
• The impact of changed asset valuations
• Is market dislocation more of a threat than an opportunity?
• The best approach to investing in a new era particularly with regards to China
Ronnie C. Chan, Chairman, Hang Lung Properties Limited
9:30 – 10:15
The GP Panel: investment realities today
Leading managers discuss how they are approaching today’s markets.
• The markets and sectors that matter
• Changed agendas amongst developers
• Do investment theses change in differing market conditions or should your strategy stay the same?
Moderator:
Nirav Kachalia, Managing Director of Investments, Morgan Creek
Panel Members:
Raj Bhandari, Managing Partner, ADAM Realty Partners
Richard Price, Chief Executive Officer, ING Real Estate Investment Management Asia
Rong Ren, Chief Executive Officer, Harvest Capital Partners
Jon-Paul Toppino, Representative Director, Secured Capital Japan
10: 15 – 11.00
| The Big Debate: This House believes that mature Asian markets (Japan and Australia) are more attractive as investment destinations for PERE investors than China and India |
Moderator:
David Hawkins, Managing Director & Publisher, PEI Media
For the Motion:
Fred K. Schmidt, President, Representative Director, Morgan Stanley Capital K.K.
Bryan Southergill, Executive Director & Head of Asia Real Estate, Global Special Opportunities Group, J.P. Morgan Securities (Asia Pacific)
Against the Motion:
Goodwin Gaw, Chairman & Managing Principal, Gaw Capital Partners
Timothy Grady, Managing Director & Head of Global Commercial Real Estate, Merrill Lynch (Asia Pacific)
11.00 – 11:30
Coffee Break
11.30 – 12:15
The Deal Panel: making it happen
Investment professionals and bankers assess how deals are getting done
• The transaction life cycle today
• Asset valuation and pricing
• Deal financing & refinancing realities
Moderator:
Albert Tan, Partner, Haynes and Boone, LLP
Panel Members:
Fergal Harris, Regional Head, SE Asia, Commercial Real Estate, Standard Chartered Bank
Morgan Laughlin, Managing Director, Regional Head of Real Estate Finance Asia Pacific, RBS
Benett Theseira, President, Direct Investment, Pacific Star Group
Kenny Tse, Managing Director, Head of China Real Estate, Aetos Capital Asia
12:15 - 12:45
On-stage interview: opportunity in adversity
• What is meant by distressed real estate today?
• The dynamics of distressed versus opportunistic strategies
• Lessons to be learnt from investing across the region’s 2006-2007 boom
Interviewer:
David Hawkins, Co-founder, PEI Media
Interviewee:
Andrew Wood, Chief Investment Officer, MGPA
12:45-2:15
Networking lunch
2:15 – 3:15
Roundtables Series 1: Markets
Country specialists host roundtables designed to give delegates deep insight into two of the most talked about real estate markets in Asia today
Overcoming refinancing and regulatory stumbling blocks in Japan
Facilitator:
Fred Uruma, President & CEO, Touchstone Capital Securities
Participants:
Morgan Laughlin, Managing Director, Regional Head of Real Estate Finance Asia Pacific, RBS
Jon-Paul Toppino, Representative Director, Secured Capital Japan
Spotlight on Australia: how it differs from other Asian markets?
Facilitator:
David Hawkins, Co-founder, PEI Media
Participants:
Adrian Baker, Director, CBRE Investors Global Multi Manager
Tarun Gupta, Chief Executive Officer - Australia, Lend Lease Investment Management
Victor Lor, Director, Investment Banking, Real Estate, Lodging & Leisure – Asia, UBS AG
Robb Macnicol, Division Director, Macquarie Capital Advisors
3:15-3:45
Tea break
3:45 - 4:45
Roundtables Series 2: Sectors
Sector specialists host a series of roundtables to give delegates a sense of how key sectors are evolving across the region
Logistics: has its time come?
Facilitator:
Jonathan Brasse, Associate Editor, Private Equity Real Estate
Participants:
Sandeep Aneja, Chief Operating Officer & Managing Director, Milestone Capital Advisors
Daniel McDonald, Managing Director - Hong Kong, Goodman Asia
Jonathan Yap, Executive Vice-President, Real Estate Funds Business, Ascendas Land (S)
Retail: the impact of a changed macro-environment
Facilitator:
Morgan Parker, President, Taubman Asia
Participants:
David Fletcher, Managing Director, Pradera
Paul Hart, Executive Director, Knight Frank
Office: a safe investment in turbulent times?
Facilitator:
John Saunders, Managing Director, Asia Portfolio Manager, MGPA
Participants:
Ng Beng Tiong, Fund Director, ARA Managers (Asia Dragon)
Robert Hattersley, Chief Investment Officer, Lend Lease Investment Management
Andrew Ness, Executive Director & Head of Research Asia, CBRE Research, CB Richard Ellis
4:45 – 5:30
Stories from the frontline: anatomizing recent developments
Industry practitioners detail how they executed specific recent transactions and refinancings and debate the lessons they learnt from them
• Profiling the asse and financing structure
• Explaining the rationale
• Describing the process and outcome
Moderator:
Michael Smith, Managing Director, Head of Asian Real Estate, Investment Banking Division, Goldman Sachs (Singapore)
Panel Members:
Pietro Doran, Chairman & Principal Partner, Doran Capital Partners
Don Lam, Co-Founder & Chief Executive Officer, VinaCapital Group
Ng Beng Tiong, Fund Director, ARA Managers (Asia Dragon)
5:30 – 7:30
Cocktail reception co-hosted by MGPA
Day Two, Thursday, February 12, 2009
8:00 – 8:45
Continental breakfast
8:45 – 9:00
Chairman’s welcome
Peter Mitchell, Chief Executive Officer, APREA
9:00 – 9:30
Keynote address: the real estate proposition revisited
• Are US institutional funds still going to invest in Asian real estate over 2009-2010?
• How best to approach institutional investors this year?
• The outlook for allocations and speculation on which markets will be hottest
Michael McCook, Independent Consultant, (former CalPERS Head of Global Real Estate)
9:30 – 10:15
The China panel: new factors, new results
Investment professionals and advisors discuss how private equity real estate investing in China has changed
• A review of the past 12 months for China’s real estate markets
• Opportunities amongst constrained developers
• Moving from the generalist to the specialist
Moderator:
Patrick Boot, Managing Director, Pacific Alliance Real Estate, Pacific Alliance Group
Panel Members:
Stanley Ching, Managing Director & Head of Real Estate Group, CITIC Capital
Wilson Leung, Managing Director, Angelo Gordon Asia
Richard van den Berg, Managing Director & Country Manager - Greater China, ING Real Estate Investment Management
Zheng Xiaoping, Principal, BAZO Investments (Asia)
10.15 – 10.45
| Keynote interview: the different dimensions to real estate investing in India |
A leading managing partner discusses how the range of real estate investment opportunities has changed across the Indian market
• When is it necessary to recalibrate your strategy?
• Some lessons learned
• The infrastructure proposition
Interviewer:
Michael McCook, Independent Consultant
Interviewee:
Shahzaad Dalal, Vice Chairman and Managing Director, IL&FS Investment Managers
10.45 – 11.15
Coffee break
11.15 – 12.00
The LP Panel: how to be restrained, radical and realistic
A group of leading LPs discuss how their real estate investment strategies have developed and what they are now looking for from fund managers.
• Where are you investing and where, not?
• Assessing the relationship with your managers
• Fundraising today: who, how and why
Moderator:
Richard Johnson, Chief Executive Officer, Standard Chartered - Istithmar Real Estate Fund Management (Singapore)
Panel Members:
Bart Coenraads, CIO & Head of Private Real Estate, Fortis Investments
Ian Hally, Head of Strategy & Indirect Investment - Asia Pacific Real Estate, Aviva Investors Asia
William Shaw, Director - Asia, Composition Capital Partners
12.00 – 12.45
Closing Panel: The road less travelled
Leading private equity real estate practitioners discuss some of the key messages coming from the markets as they consider the next 12 months
• Some data points set to shape the coming year
• The meaning of local knowledge when put into practice
• Where will your firm be in 12 months’ time?
Moderator:
David Schaefer, Managing Director & Head - Asia Pacific, Citi Property Investors
Panel Members:
Subhash Bedi, Managing Director, Red Fort Advisors
Jack Chandler, Chief Executive Officer, Asia Pacific, LaSalle Investment Management
Simon Treacy, Chief Executive Officer - Asia Investments, MGPA
12:45 – 14:00
Closing Lunch and end of conference