Sohn Hong Kong 2026 – Endurance’s Beselin and Parkway’s Rupp on Activism vs Quality Compounding in Asian Markets

At the 2026 Sohn Hong Kong Investment Conference, moderator Maria brought together two managers with meaningfully different approaches to generating returns across Asia: Chris Beselin, Founding Partner of Endurance Capital, and Dan Rupp, Founder and CIO of Parkway Capital Ltd. Beselin built his career at European activist firm Cevian Capital before relocating to Vietnam in 2012 and founding Endurance Capital in 2014 as the first local activist investment fund in the region.

Rupp spent roughly 17 years at Hong Kong-based Overlook Investments before launching Parkway Capital on January 1, 2024; he holds an MBA from Yale School of Management and the CFA designation. Their session covered portfolio construction, management access, the durability of their respective strategies, and a frank exchange about the hardest moments each has faced as a fund manager.

Where Each Manager Finds Their Edge

Beselin opened by identifying three pillars of Endurance Capital’s edge. First, being a collaborative activist means the firm can act as its own catalyst for unlocking value rather than waiting for external events. Second, running a concentrated portfolio of just ten holdings lets the team deploy significant manpower against every position. Third, a five-year holding horizon creates what Beselin called a time horizon arbitrage: the fund is simply willing to wait longer than most participants.

Rupp’s edge is built on breadth rather than depth. Parkway Capital operates across 11 markets in Asia, giving the team a universe of roughly 12,000 stocks. From that pool, Rupp said, the fund needs only 20 to 25 great ideas. Volume matters too: the team targets 300 company meetings per year. Markets across the region do not all move together, which means capital can shift into dislocated markets after they fall – but only if the research is done beforehand so deployment decisions can be made quickly once valuations compress.