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Investment Spotlight: Changes in China

24 January 2013

WEBCAST PRESENTATION (PDF)

An EMPEA Professional Development Webcast with Ernst & Young
24 January 2013 

China is in a period of unprecedented change. The last decade has seen the country embark on one of the steepest of growth trajectories, resulting in enormous economic and social transformation. But the country has experienced significant deceleration in the last 12 months – a challenge that China's new leadership will need to address. How does this affect the PE industry in China – both global and local investors who have continued to invest and expand throughout this evolution?

Join EMPEA and Ernst & Young for a Professional Development Webcast that takes a look at what 2013 will hold for PE investors in China.

  • What were the top trends in PE investing and fundraising in 2012?
  • How will recent regulatory changes and proposals affect the industry?
  • What is the potential impact of leadership changes in government?
  • What are the expectations for the IPO market – historically the preferred exit route for PE investors?


 

Panelists Include

Philip Bass
Global Private Equity Markets Leader, Ernst & Young

Philip has more than 30 years of financial, tax and transactions experience working with both private equity funds and large multinational corporations.

Philip is part of the Global Private Equity leadership team and serves as Ernst & Young’s Global Private Equity Markets Leader, where he develops and executes the firm’s private equity strategy. In this role, he is responsible for identifying value creation strategies that are relevant to private equity, developing the go-to-market strategy, and, ultimately, driving the execution of these across our private equity priority accounts.

Teaming with EMPEA, he also led the study on private equity exits, “How do Private Equity Investors Create Value” launched in Latin America in 2012.  Philip previously served as Ernst & Young’s Americas Markets Leader for Transaction Advisory Services and as the lead transaction partner for several of the firm’s largest transaction accounts.

 

John MacArthur
International Tax Services, Asia-Pacific Financial Services Leader, Ernst & Young

John MacArthur joined Ernst & Young’s Asia-Pacific Financial Services Office in 2011 and is based in Hong Kong. John is a Principal with 26 years of practice experience in serving global financial service clients and is currently one of the leaders of the firm’s Global Private Equity Tax Committee. The committee addresses emerging international tax issues that impact the private equity and global venture capital industries.

Prior to moving to Hong Kong, John led the firm’s International Tax Services (ITS) and Financial Services Tax Practice for nine years in the western portion of the US, based in San Francisco, California. He also practiced in Ernst & Young’s National Tax Department in Washington, D.C. and in our ITS Capital Markets and Financial Services groups in New York.

John left the firm and served as the lead tax lawyer for Morgan Stanley’s Global Structured Products Group in New York from 2000-2002. He and his team were responsible for structuring cross-border investment and financing transactions for the firm and its clients worldwide.

He is a frequent speaker at conferences, such as the Alliance for Tax, Legal and Accounting Seminars (ATLAS), Private Equity International (PEI) and the Tax Executive Institute (TEI). He has also authored articles in the Journal of International Taxation and other publications. John received a BA, cum laude, in Economics, with Distinction, from St. Olaf College, Northfield, Minnesota ; and a JD, from William Mitchell College of Law, St. Paul , Minnesota , where he served as the Editor-in-Chief of the William Mitchell Law Review.

 

Bob Partridge
Managing Partner, Private Equity and Transaction Advisory Services Leader, Greater China, Ernst & Young

Bob leads Ernst & Young’s focus on Private Equity across Greater China, and also leads its Transaction Advisory Services practice. Bob was instrumental in building our private equity focus across the Asia Pacific region.

For the past decade, Bob has been involved in many China/Asian transactions having assisted many global and regional private equity firms (and multi-national corporations) in investing into China (and nearly every Asia Pacific country). Bob has personally lead the financial and tax due diligence on many of China’s landmark PE transactions.

Bob’s industry experience is diverse and includes technology, manufacturing, industrials, distribution, logistics, retail, consumer products and financial services, among others. 

Bob is a frequent speaker on the challenges for private equity firms investing across China/Asia, Chinese companies “going out” and multi-national corporations forming joint ventures in China.

Bob is a certified public accountant in the US. He is also actively involved in the Hong Kong Venture Capital & Private Equity Association, and the Hong Kong Institute of Directors.

 

Robert Petty
Managing Partner and Co-Founder, Clearwater Capital Partners

Robert Petty is a co-founder and Managing Partner of Clearwater Capital Partners and is a member of the Firm's Investment and Management Committees. Since founding the Firm in 2001, Mr. Petty and his partner Amit Gupta have utilized their backgrounds in credit-oriented investment strategies and invested profitably across cycles, sectors and geographies building an Asia-focused business that today is one of the largest credit investing firms in the region. Over his nearly 30-year career, Mr. Petty has focused on investing in Asia-dedicated special situations and credit investments, including turnarounds, restructurings, stressed credits and distressed-for-control transactions. Mr. Petty’s principal responsibilities encompass portfolio management, origination and overall management of the Firm. Prior to founding Clearwater, Mr. Petty held senior positions at Amroc Investments LLC, Peregrine Fixed Income Ltd. and was with Lehman Brothers Holdings, Inc. for thirteen years.

Mr. Petty sits on the Board of four Clearwater portfolio companies and also serves on the Boards of two non-profit organizations, The Emerging Markets Private Equity Association (EMPEA) and EngenderHealth. Mr. Petty holds a bachelor of arts degree in Political Science from Brown University and is based in Hong Kong.

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