September 2009 * Le Méridien Beach Plaza, Monte Carlo * Call the Bookings Hotline on +44 (0)20 7368 9465

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Pre-Conference Fund Raising Forum
Monday 15th September 2008

LP Perspectives & Fundraising Strategies to Adapt to New Market Conditions

There is little doubt that economic conditions have forced institutional investors to rethink their investment strategy and made fundraising more challenging for private equity firms. Focusing on enhancing institutional investor knowledge of the asset class, the day will also examine how private equity firms can boost fundraising activities by through improved strategies while taking into account current investor motivation. The Fund Raising Forum provides the perfect forum for investors to discover more about the asset class while giving them access to the top funds that are currently looking to raise capital. All attendees will have the opportunity to directly contribute to the debate and channel the course of discussion.

11:15
Registration and morning coffee
12:00
Lunch: Join your peers for the perfect start to the Fund Raising Forum
13:00

Chairman’s Opening Address:

Vince O’Brien,
Director,
Montagu Private Equity

 


13:15

European Pension Fund Perspective: How ATP Denmark has Adapted its Portfolio to Deal with Current Market Conditions

  • The current ATP portfolio structure and recent changes that have been made
  • ATP’s approach to alternative investing
  • The significance of private equity for ATP and how the management team selects its private equity partners
  • Expectations for returns given current market conditions

Bjarne Graven Larsen,
CIO,
ATP Denmark

 

Bjarne is the Chief Investment Officer at the Danish Labour Market Supplementary Pension (ATP) and Chairman of Private Equity Partners. Bjarne Joined ATP in April 1999. He holds an MA in Economics and previously held positions in the Danish Central Bank, the Ministry of Finance, and Realkredit Denmark.


13:45

Avoiding the Pitfalls When Approaching the Co-Investment Market Given Current Market Conditions

  • Why co-investing makes sense: rationale for co-investing from both GP and LP perspectives
  • The impact of latest market developments on GP and LP motivations
  • How to co-invest: designing a best-of-breed co-investment programme
  • Where to co-invest: co-investing across different strategies, sectors and geographies

Chairman: James Pitt,
Managing Director,
Lexington Partners

 

James Pitt is a Managing Director of Lexington Partners and head of European private equity co-investments based in London. He joined Lexington in 2006 from AXA Private Equity where he was responsible for a range of private equity activities within the firm’s $10 billion private equity programme.

Piers Dennison,
Managing Director,
Candover

 

Piers joined Candover in 2003. He came from the Boston Consulting Group, where he worked for seven years as a management consultant, specialising in the retail and telecommunications sectors.

John Hess,
Chief Executive Officer,
Altius Associates

 

John is the CEO and a Director of Altius. He is responsible for the overall strategy and financial planning of the firm, plans the marketing strategy and directs the client relationship responsibilities.

Robert Mason,
Head of Private Equity Investments,
Lord North Street

Robert joined Lord North Street in May 2007 and has responsibility for Private Equity investments. In 1983 joined he joined JP Morgan where he started the European Leveraged Transaction Group for the bank in 1987. In 1989 he founded European Acquisition Capital, an independent Private Equity investment firm.


14:15

Diversification through the Cycles: How to Add Value and Balance to the LP Portfolio by Diligently Investing in Private Equity Funds of Funds

  • Strategies for to achieving superior manager selection
  • How to create access to best-in-class managers
  • Constructing a well-balanced, and risk adjusted portfolio
  • What the current expectations should be with regards to returns

Session Chair: Ilona Brom,
Managing Director,
Wilshire Private Markets Group

 

Ilona is responsible for origination, due diligence, and monitoring of buyout and venture capital investments in Europe. Prior to joining WPMG, she worked in corporate bond research, most recently as Vice President with Morgan Stanley (London). Ms. Brom was also previously with ABN AMRO Bank in Amsterdam.

Alison Esselink,
Investment Manager,
AlpInvest Partners

 

Alison joined AlpInvest Partners in 2005 from The Boston Consulting Group, where she provided strategy and organizational advice to leading companies in Europe. Previously, Alison was an associate at Focus Ventures, responsible for investments in software and internet-related companies. She has also worked in marketing and business development for USWeb, an Internet consultancy. At AlpInvest Partners, Alison is responsible for sourcing, evaluating, and executing fund opportunities in Europe.
.

Marc der Kinderen,
Partner,
747 Capital

Marc co-founded 747 Capital and co-manages the day-to-day operations. He oversees the investment professionals, and is actively involved in the fund manager selection process. Steven van de Wall, Senior Portfolio Manager, Delta Lloyd Asset Management

Steven van de Wall,
Senior Portfolio Manager,
Delta Lloyd Asset Management

 

Steven is Head of Alternative Investments within Delta Lloyd Asset Management and responsible for Delta Lloyd's investment activity in Private Equity. These activities include investing as a Limited Partner in fund of funds and single funds (primary and secondary) as well as co-investments and strategic participations in companies not quoted on the stock exchange.


14:45

LP Strategies for Optimising Private Equity Returns

  • How the institutional investor appetite for private equity changing
  • Which industry sectors within private equity are expected to out-perform
  • What returns LPs are expecting from private equity in the medium-term
  • How investors can actively engage in active portfolio management to maximise returns

Chairman: Andrew Sealey,
Managing Partner,
Campbell Lutyens

 

Andrew joined Campbell Lutyens in 1990 and became the Managing Partner in 2003. He also leads the firm’s financial advisory activities which focus on secondary transactions and fund restructurings. Previously he was responsible for developing the firms activities in fund placement.

Peter McKellar,
Chief Investment Officer,
Standard Life Private Equity

 

Peter is a member of the Investment Committee manages the day to day activity of Standard Life European Private Equity Trust. He currently manages in excess €6.0 billion of private equity money on behalf of around 100 clients worldwide.

Greg Holden,
Partner,
Adams Street Partners

 

Greg is a Partner at Adams Street Partners primarily specialising in the sourcing and execution of secondary investments. He also is also a key contributor in all fund investment decisions for the firm.

Erwin Roex,
Partner,
Coller Capital

Prior to joining Coller Capital, Erwin also established a London office focused on mid-market buyouts for Alpinvest and founded Alpinvest Mezzanine. Before this, Erwin was Managing Director Structured Finance at WestLB Europa and the bank’s risk manager for Benelux. Erwin has been a non-executive director of numerous companies, and has sat on the advisory boards of Lexington Partners and Intermediate Capital Group.


15:15
Coffee Break
15:45

Why Private Equity is an Excellent Portfolio Diversifier for Institutional Investors Given Current Market Conditions

  • The role of private equity in enhancing institutional investor portfolio management and strategy
  • An overview of the European and global private equity market place
  • How the credit crunch has affected private equity as an asset class and the opportunities that have been presented as a result
  • Where institutional investors are likely to realise exceptional gains through private equity investing

Andrew Beaton,
Managing Director,
Capital Dynamics

 

Andrew is a Managing Director and co-heads the Capital Dynamics Co-Investment team. He has over 20 years’ private equity investing experience. Andrew joined GE Capital in 1988 and held a number of senior positions in Europe and the USA before becoming CEO of the European private equity activities of GE Capital


16:15

How to Effectively Prepare for Making Investments in First Time Funds

  • The major drivers for investor interest in these types of funds
  • The pros and cons of investing in first time funds
  • How to approach key diligence procedures when engaging in investing
  • Sourcing, post-investment value-add, exit opportunities and team economics

Chairman: Graham McDonald,
Head of Fund Investments,
Bank of Scotland

Graham McDonald is Head of Fund Investments within Bank of Scotland Corporate and is responsible for the Bank's investment activity in Private Equity. These activities include investing as a Limited Partner in Primary and Secondary Funds as well as Co-Investment activity. Co-Investment activities include underwriting and syndications.  In addition, the Fund Investment Business is responsible for building relationships and the provision of debt products at GP level and Fund level.

Craig Donaldson,
Partner,
HG Capital

Craig has over 16 years experience in advising institutional investors on global alternative investment strategies. His responsibilities have included acquisitions and disposals, portfolio management, financial analysis, fundraising and client service.

Gordon Hargraves,
Managing Director,
RHO Capital Partners

 

Prior to joining Rho, Gordon managed the private equity investment effort for the National Bank of Kuwait in New York. Previously, Gordon was with GCC Investments in Boston, focused on direct growth investments. Gordon received an MBA from the University of Chicago.

Jason Katz,
Founder Partner,
Kings Park Capital

 

Jason launched Europe’s first Leisurecfund of €250 mns in 2008 supported by over 30 UK and European leisure senior executives and some leading individual private equity investors to target lower mid-market companies within attractive segments of the European sector .He led the top –ranked UBS Travel and Leisure team which he founded for nine years, some of whom have joined KPC. The fund has had a First “ trade “ close of €70mns before the summer and have made two first investments.


16:45

Advantages of Diversifying your Portfolio into Specialist Private Equity and Venture Capital Investments

  • Current LP requirements when selecting funds
  • How to accelerate fundraising when there is reducing scope for LPs to be decisive
  • How to access and identify potential new LPs to this asset class from non-traditional geographies
  • Are there lingering key concerns with the European venture fund offering?

Session Chair: Jeryl Andrew,
Partner,
Advent Venture Partners

 

Jeryl has worked in the venture capital industry since 1987. She spent ten years with the London-based venture group, Abingworth and four years at the fund-of-funds manager, VenCap International, as Director, Fund Investments, growing the venture fund investment activities in the USA and developing and implementing the strategy for European private equity fund investment.

Rod Selkirk,
Chief Executive,
Hermes Private Equity

 

Rod joined Hermes Private Equity in April 2002. Prior to that he had been a Managing Director for Bridgepoint Capital (previously NatWest Equity Partners prior to the buyout from Natwest). Rod had been at Bridgepoint for 11 years where he headed up the UK Regional offices and latterly had responsibility for fund-raising. Prior to Bridgepoint he was with 3i for 9 years.

Michael Dymond
Senior Associate,
Private Equity Funds of Funds Group,
AIG Investments

Michael joined AIG Global Investment Group as an Associate in 2007. He is responsible for sourcing, performing due diligence, analyzing and monitoring private equity fund investments.

Klaus Matzka,
Managing Partner,
GCP Gamma Capital Partners

Richard Sachar's Bio.Richard Sachar,
Managing Director,
Almeida Capital

 

Richard Sachar is Managing Director of Almeida Capital. Richard has 18 years experience in private equity placement, fund management and consulting.
Prior to Almeida, Richard was an Investment Director at Greenoak Capital Management, a fund of funds manager. He was responsible for market and fund research, making private equity fund investments and marketing to institutional investors. Before Greenoak, Richard was a Director at BZW Securities (now Credit Suisse) where he was a member of the highest ranked media team in the UK. He was responsible for research and marketing to institutional investors. Richard previously spent eight years in management consulting with McKinsey & Company and Accenture


17:15

The Impact of the Current Market Environment on Fundraising Strategy and How to Best Adapt

  • How current market affect institutional investor mindset and allocations to private equity
  • How to engage in enhanced marketing and relationship building during recession
  • Utilising secondaries as a key management tool in portfolio management
  • How to adapt investor relations programmes to make them suitable for volatile conditions
  • The relevance of regulations and liquid to illiquid parameters

Chairman: Justin Bower,
Managing Principal,
Park Hill

 

Justin is a Managing Principal in the Park Hill Group, a division of the Blackstone Group and is based in London. He is a member of Park Hill’s private equity and hedge fund distribution team and before joining Park Hill was an Executive Director at UBS Investment Bank in the Private Equity Funds group in London, covering primarily institutional clients throughout Europe.

Erin Harrell,
Director, Investor Relations,
3i Buyouts

 

Erin became Investor Relations Director of 3i Funds in 2005, having joined 3i’s buyout business from Industri Kapital where she had been since 2001. Previously, Erin worked in venture capital as an investment manager in the Nordic Region, after having trained in investment banking at Chase Securities in New York where she was part of the Global Media & Telecom Group.

Xavier Caron,
Head of Fund of Funds,
BNP Paribas Private Equity

 

Xavier, who joined BNP Paribas as head of its fund of funds team, after setting up CPR Private Equity in 1999 to invest in Europe growth capital and buyout funds. In 2004 CPR became part of Crédit Agricole Asset Management and was later renamed Crédit Agricole Asset Management Capital Investors. The fund has €1.2bn ($1.7bn) under management dedicated to private equity fund investment.

Jonny Maxwell,
Global Head Private Equity Fund of Funds,
Allianz

 

Jonny is Global Head Private Equity Fund of Funds and has overall responsibility for Allianz’s indirect private equity activities, operating out of locations in Munich, New York, Singapore and London. Prior to joining Allianz in 2007, Jonny was Chief Executive at Standard Life Investments (Private Equity).

Annette Wilson,
Investor Relations Director,
Palamon Capital Partners

 

Annette E. Wilson joined Palamon Capital Partners in 1999 and serves today as Investor Relations Director. Prior to taking on the role of Investor Relations Director in 2005, Mrs Wilson served as Palamon’s founding Chief Financial Officer.


17:45 Chairman’s Closing Address.
18:00
Wine reception with entertainment



Conference Agenda

Capital Creation 2008 provides you with a unique opportunity to forge new professional acquaintances and strengthen existing relationships whilst debating the challenges and turbulence that current market conditions present. Play an integral role in shaping the direction of the industry over the coming year whilst also benefiting from learning how to maintain or improve rates of returns during increasing market uncertainty.

Day One
Tuesday 16th September 2008

08:15
Registration and morning coffee
09:15

Chairman’s Opening Address

Mary Kuusisto,
Partner,
Proskauer Rose LLP

 

Mary B. Kuusisto is a partner in the Tax Department of Proskauer Rose and is also a member of the Firm’s Private Investment Funds Group. She currently splits her time between Proskauer Rose’s London and Boston offices. Mary concentrates on tax planning for and structuring of domestic and offshore venture capital, buyout and other private equity financing partnerships, as well as advising those partnerships on operational issues and global investments in tax-transparent and corporate portfolio companies. She also advises investment fund managers and general partner with respects to tax planning, compensation arrangements and economic structures.


09:30

How the Mid-Market Needs to Adapt in Order to Cope with the Shock in the Credit Market

  • How the mounting sequence of events in the financial markets have affected the mid–market and the competitive space
  • Is private equity capable of outperforming in a bear market?
  • Relearning the lessons of the early 90’s
  • Active portfolio management to generate enhanced returns

Chairman: Michael Hoffman,
Co-founder Palamon
Capital Partners

 

Michael co-founded Palamon Capital Partners in 1999 and is Chairman and a member of the Operating Committee. Michael has extensive experience in private equity, built up over the past twenty years.

Ross Marshall,
Chief Executive,
Dunedin

 

Ross joined Dunedin in 1994. He has over 20 years private equity experience, including leading the negotiations for the MBO of Dunedin in 1996. His responsibilities include day-to-day management of Dunedin, chairing Dunedin’s investment committee and investor relations.

Vince O’Brien,
Director,
Montagu Private Equity

 

Vince joined Montagu Private Equity in 1993 from Coopers & Lybrand and has worked in the private equity industry for more than 15 years. An Oxford graduate in Modern History and a qualified Chartered Accountant, Vince is responsible for fund raising and all aspects of investor relations.

Roberto Pilotto,
Director,
PPM Managers

 

Roberto heads PPM Managers, the London based Funds of Funds investment unit of Prudential plc. He is a member of the Advisory Board of several mid-market buy-out funds in Europe and Asia, where PPM has been investing since 2000. Prior to joining in 2002, Roberto was based, for five years, at the European Bank for Reconstruction and Development where he was instrumental to the expansion of the US$ 1.5 billion private equity funds programme.

Göran Barsby,
Partner Buyouts,
CapMan

 

Göran joined CapMan in 2003. Prior to joining CapMan Göran worked for Ahrens Tillväxtkonsulter AB, consulting Sweden’s most rapidly growing companies. He has held a variety of international CEO positions with food packaging companies Tetra Pak and Tetra Laval, media group Bonnier, food producer and marketer Procordia and technology company Toolex Alpha.


10:00

The Future Prospects for Global Venture Capital

  • What is driving the globalisation of venture capital
  • How far can globalisation go
  • Where is venture now in emerging markets and where it is heading
  • Is the emerging markets model of venture capital different from that of the US? How and why?

Simon Cook,
Chief Executive Officer,
DFJ Esprit LLP

 

Simon has been involved with a number of Europe’s most successful technology start-ups and has been involved with the UK venture capital industry since 1995. In 2006 he led the merger of Cazenove Private Equity with Prelude Ventures and in 2007 he completed the next stage of Esprit’s expansion plan, negotiating the partnership with DFJ to form DFJ Esprit. Previously Simon was a partner with Elderstreet Investments and a Director at 3i in Cambridge.


10:30

Maintaining Fund Performance: What Can Go Wrong and How to Avoid the Mistakes

  • Where deals are currently failing and why: how to minimise the risk
  • Areas of due diligence that can prevent mistakes being made
  • Portfolio management techniques to spot problems early
  • How to identify and then manage problematic situations

Chairman: Richard Green,
Managing Partner,
August Equity

Richard joined August Equity in 1988 and has been joint Managing Partner of the business since 2000. He has been responsible for the acquisition of many companies, sat on the boards of various portfolio firms and been responsible for leading the fund raising for three limited partnerships.

Michael Diehl,
General Partner,
Activa Capital

 

Prior to founding Activa Capital, Michael has 14 years experience as a specialist on French equities, previously as Director of French equities with UBS Warburg (Paris). Previously Michael worked as a French equity specialist with Bankers Trust Paris (ex-NatWest Markets), was Director of French Equity Sales and Analysis at Nomura Bourse (Paris), which he founded, and was a French equity analyst with Kleinwort Benson, where he established the Paris-based Equity Research Department.

John Barber,
Partner,
Bridgepoint Capital

 

Rod Selkirk,
Chief Executive,
Hermes Private Equity

 


11:00
Coffee Break and Networking
11:30

Bridging the Communication Gap: How the Industry Should be Positioning Itself to Overcome its Negative Image in a Time of Economic and Financial Stress

  • Should the industry be doing things differently and why
  • How to capitalize on opportunities thrown up by the current environment
  • To what extent can bad news be buried and what are the consequences?
  • Who within the industry should be stepping up to the plate

Session Chair: Carol Kennedy,
Senior Partner,
Pantheon Ventures

 

Carol is a member of Pantheon’s International Investment Committee. She is a member of the GIPS (Global Investment Performance Standards) Executive Committee of the CFA Institute.

Christina Pamberg,
European Head of Investor Relations,
KKR

 

Christina joined Kohlberg Kravis Roberts & Co. (KKR) in 2005 and is responsible for investor relations, capital raising and co-investment syndication activities for Europe. Prior to joining KKR, Christina was with HarbourVest Partners.

Chris Davison,
Head of Corporate Communications,
Permira

 

Chris is Director of Communications, overseeing Permira’s media relations and public affairs activities worldwide. Prior to joining Permira in 2005, Chris spent four years at Almeida Capital/Alt Assets where he launched a research business covering the private equity industry, with a particular focus on servicing the informational requirements of institutional investors.

John Barber,
Partner,
Bridgepoint

 

John joined Bridgepoint in 2007 as the Partner responsible for its Investor Services team. He was previously a managing director at Helix Associates, the private equity placement agents and previously co-founded Yucatan Foods in Santa Monica, California, where he arranged several rounds of equity and debt financings.


12:00

The Growing Importance of Private Equity in the Middle East and North Africa Region’s Economic Landscape

  • Private Equity within the broader economic landscape in the MENA region
  • Key trends supporting the development of Private Equity in the region
  • The road ahead: Opportunities and challenges for the regional Private Equity industry

Walid Zein,
Managing Partner,
EFG-Hermes Private Equity

 

Walid joined EFG Hermes Private Equity in 2008 as one of its Managing Partners based out of Dubai

Prior to joining EFG-Hermes Private Equity, Walid was an Executive Director with Goldman Sachs in its Investment Banking Division. Mr Zein spent four years with Goldman Sachs in London primarily advising clients in the Telecoms Media and Technology sectors in Europe, the Middle East and Africa on M&A and capital markets transactions. In 2007, Walid relocated to Dubai to participate in building the Goldman Sachs franchise in the Middle East and North Africa.

NEW SESSION
Crimson & Co

Presentation details to be announced shortly

12:30
Alfresco Lunch on the Terrace
  Track A Track B
14:00

Life After a Successful Funding: What Strikes Fear into the Hearts of Private Equity and Venture Capital Veterans?

  • The essential ingredients as to why these GPs were successful in raising new funds
  • Assessment of the value of ongoing communication with LPs and if their expectations are becoming more onerous, post funding
  • The biggest issues and fears now facing venture or private equity investors after fundraising
  • Has the changes in the market conditions affected the investment strategy and how is that managed with LPs?

Chairman: Mark Maclean,
Managing Director,
Matrix Private Funds Group

 

Mark has had over 25 year’s international experience in investment banking, mergers and acquisitions and institutional private placement.

Gary Le Sueur,
Partner,
Scottish Equity Partners

 

Gary is a partner in Scotish Equity Partners and focuses on investing in technology companies in the oil & gas, environmental and cleantech sectors, as well as crosssectoral and later stage companies. Over the past 10 years with SEP, Gary has invested in a wide range of technology businesses, from early through to late stage.

Harold Kaiser,
Managing Partner,
Litorina Kapital

 

Harold is a managing Partner and founder of Litorina Kapital since 1998. Litorina is a leading Swedish PE firm focusing on acquiring and industrially developing small to mid-sized primarily Swedish companies. Harold Kaiser has been active in the Nordic M&A market since 1985 and involved in numerous transactions in different capacities.

Mario Visioni,
Partner,
Alto Partners

 

Mario has thirteen years of private equity experience. In Alto Partners, Mario Visioni focuses on deal structuring, execution and monitoring, with significant expertise in financial monitoring and reporting. He has particular expertise in the leather and luxury goods, and leisure and lifestyle sectors.

How to Add Value to Portfolio Companies in the Lead to Exit

  • How to increase the value of a portfolio during a difficult banking environment
  • Leveraging PR and marketing in achieving effective exits in volatile markets
  • Is there a long-term impact in the fundamentals affecting the ability of GPs to effectively exit companies?

Session Chair: Jane Kirby,
Director,
Equity Dynamics

 

Jane co-founded Equity Dynamics, a private equity focused PR consultancy. Previously Jane headed up the PR and marketing for Barclays Private Equity and other Blue Chip corporates.

Neil MacDougall,
Managing Partner,
Silverfleet Capital

 

Neil MacDougall heads up a team of 50 staff based in offices in London, Munich, Paris and Chicago. He joined PPM in 1989 and was appointed Managing Director in 2004. Neil is a director of Sterigenics International Inc. and TMF Group Holdings B.V. Before joining PPM, Neil was a Strategic Management Consultant at Bain & Co.

Christiian Marriott,
Director,
Barclays Private Equity

 

Christiian is a Director in the London office and focuses on Investor Relations. Before joining Barclays Private Equity in 2007, Christiian was Investor Relations Director for Mezzanine Management, with responsibility for structuring and marketing mezzanine funds investing across Europe and in the US. .

Ross Marshall,
Chief Executive Officer,
Dunedin Capital Partners Ltd

 

Ross joined Dunedin in 1994. He has over 20 years private equity experience, including leading the negotiations for the MBO of Dunedin in 1996.

14:30

The Prospects for Making Substantial Returns by Investing in Russia, MENA and Emerging, and Mature Asian Economies

  • The evolution of the private equity sector in Russia and the mature and emerging Asian economies
  • Transactions, players, environment
  • Identifying the most lucrative opportunities: why these markets are attractive
  • What it involves to become an investor in Regions such as Russia, China and Japan: the legal frameworks
  • Due diligence considerations and hidden liabilities

Moderator: Andrew Beaton,
Managing Director,
Capital Dynamics

 

Alexey Panferov,
Managing Partner, CEO,
New Russia Growth

 

Alexey started his career in Moscow based Bank Zenit in 1995 (in 2006, Bank Zenit was ranked 16-th among Russian banks in terms of assets). In 7 years he advanced from a junior trader position to Member of the Board and Head of Investment Banking Department. In 2002, Alexey Panferov was hired by MDM Bank (4-th largest privately owned bank in Russia) to head its IB Department which included M&A, Capital Markets, Trading, Research, FX, Money Markets and Commodities. As a Member of the Board he was also in charge of Treasury and Asset Management. During 4.5 years under Alexey’s management MDM’s IB Department became a market leader in several areas including trading and capital markets.

Willie W.L Kung,
Chairman,
Cathay Asia

 

Before becoming chairman of Cathay Asia Willie was director of Investments at the Prudential Asia Infrastructure Mezzanine Capital Fund. Prior to this he was Director of Global project and structured finance for GE Capital. Mr Kung has over 23 years experience in East Asian finance.

Seiko Okuyama,
Director,
Antfactory International

Nikko antfactory specialises in private equity investments, including buyout, venture capital, and secondary investments. Specialising in small to medium-sized investments in Japan.

The Rising Prospects for European Venture Capital: Crank’s Hobby or Real Business? What they have to Offer to Convince LPs

  • The strength of European Venture Capital and how to further improve on it
  • Individual successes versus poor aggregate performance
  • Drip feeding: strength or weakness? Capital efficiency and how it translates into superior performance
  • No Ecosystem? Well, look again! Why those Europeans still in the market are so bullish about the prospects for their business

Chairman: Klaus Matzka,
Managing Partner,
GCP Gamma Capital Partners

Klaus has 15 years of entr preneurial and VC experience and is a founding partner of gcp gamma capital partners. Prior to GCP Klaus founded the incubator iLab24 for seed and pre-seed ICT investments.

Kurt Müller,
Partner,
Target Partners

 

Kurt has been a successful high-tech entrepreneur and executive for more than 25 years. In 2000 he co-founded Target is now one of the largest early-stage Venture Capital funds in Germany.

Pekka Mäki,
Managing Director,
3TS Capital Partners

 

Pekka is the managing partner of 3TS and is primarily responsible for general management of 3TS. He is also active in investment structuring, negotiations and portfolio management.

Maurizio Caio,
Managing Partner,
TLcom Capital

Maurizio is a founder and Managing Partner of TLcom Capital LLP, where he has been focusing on communications technology, internet and digital media since the firm’s foundation in 1999

Richard Anton,
Partner, 
Amadeus Capital

Richard is a partner at Amadeus Capital Partners Limited, where he specialises in communication and software company opportunities. Since joining in 1998, Richard has taken the lead in many investments and has served as non-executive director on the boards of several portfolio companies.

15:00

Effectively Engaging the Opportunities Presented by the Small and MidCap Market in German Speaking Countries

  • German Mittelstand, Growth Industries, Growing PE Awareness, Buy and Build
  • Effectively engaging local staff and local funding
  • How to profit from the increased deal flow for small caps in this region
  • Why the geography is ideal for CEE cross boarder deals
  • How to exit after buy-and-build for foreign investors

Dr. Anthony Bunker,
Managing Partner,
AVIDA MidCap Management

 

Dr. Bunker is Managing Partner of AVIDA MidCap Management GmbH and responsible for the acquisition, structuring and management of the mid cap private equity activities and has 18 years private equity experience in Germany. Before joining AVIDA Group he worked for a mid cap investment bank in Germany where he was responsible as managing director for corporate private equity investments and turnaround situations. Dr. Bunker studied Management Science in Cambridge and Canterbury and holds a German PhD and a MA (Mphil) degree.

Re-evaluating the Relevance of Mezzanine During a Global Down-Turn

  • How mezzanine funds have made a huge comeback as banks and hedge funds have pulled back dramatically in financing LBO and growth capital deals
  • The advantages of structuring buy-out deals with mezzanine financing: Is the mezzanine form of financing ultimately better for the entrepreneurs?
  • The evolution of sponsored and sponsorless mezzanine transactions

Lorenzo Lorenzotti,
Managing Director,
Altium Capital

Lorenzo is Managing Director at Altium Capital Gestionhaving joined them in 2005. Prior to this he was at Rolaco Services, as Senior Vice President, responsible for managing a private equity portfolio consisting of over 50 funds

Adrian Lurie,
Investment Director,
Indigo Capital

 

Adrian is the Investment Director at Indigo Capital, a long-established investment management firm specialising in the provision of mezzanine and junior capital to privately-owned European businesses. Adrian focuses on UK and German investments. Tom Attwood, Managing Director, Intermediate Capital Group*

15:30

Why Natural Resources Will Form an Integral Part of the Portfolio: How to Achieve Enhanced Commodity Exposure

  • Natural resources in the spotlight: what the main drivers are
  • Attractiveness of asset class: a large and diversified universe
  • Case study of a typical investment
  • The Partners Group approach

Reto Börlin,
Head of Natural Resources,
Partners Group

 

Reto Börlin has been leading Partners Group's natural resources efforts for the past 12 months. Prior to that he was a portfolio manager in the listed alternative investments team where he still is a member of both the listed private equity and listed infrastructure investment committee

Finding the Right Partner: Utilising New Administration Outsource Capabilities to Enhance Efficiencies, Aid Competitiveness and Increase Financial Returns

  • Industry trends, challenges, and key benefits driving the outsourcing movement
  • Creating efficiencies and profits through cash and liquidity management
  • Optimal flow of funds to/from investors to investments
  • Carry Plans: Managing and motivating Partners through high service carry plan administration

Sekou Kaalund,
Managing Director and Head of Business Development,
JP Morgan

 

Private Equity Fund Services Sekou is a Managing Director and serves as Head of Business Development for JPMorgan Private Equity Fund Services (PEFS), a role he assumed in 2007.

16:00
Coffee Break and Networking
16:30

What State is the Industry in Now and How to Maximise Our Chances of Survival

Plenary Speech and Discussion led by Jon Moulton,
Managing Partner,
Alchemy Partners

 

Jon Moulton is the managing partner of Alchemy Partners and one of the founding fathers of the modern private equity industry. He played a part in setting up Permira, originally an arm of Schroders, in 1985, as well as setting up Alchemy in 1997 after leaving Apax. An outspoken member of the private equity buyout industry and having presented a documentary on the UK's Channel 4 on the credit crisis Jon also won the 2007-8 private equity personality of the year award. During this session Jon will discuss:

  • Politics
  • Industry returns and valuations
  • Leverage loss – good and bad effects
  • How to prosper in the next few years

17:00

Disclosure : Walker is Working and Why

  • Transparency is something to embrace and even "reputation enhancing"
  • Confidence through facts
  • A level of best practice that will benefit the industry
  • Clarity and understanding of the benefits of the PE model
  • Why Pan-European Regulation is not the answer

Simon Walker,
Chief Executive,
British Venture Capital Association

 

Simon is Chief Executive of the BVCA. Between 2003 and 2007 he worked at Reuters and subsequently became director of corporate communications and marketing. Prior to this he was communications secretary to HM The Queen at Buckingham Palace. He was previously director of corporate affairs at British Airways and a non-executive director of Comair Ltd (South Africa).

17:30

Special Guest Keynote and Discussion: The Impact of Peak Oil on The World Economy: Is the Liquidity Crisis Just the Beginning?

  • Why society is deluding itself in thinking that alternatives like biofuels and hydrogen will solve the looming transport fuel deficit
  • How traditional economics critically underestimates the importance of energy, and therefore the severity of the last oil shock
  • Why governments, oil companies, and environmentalists oppose the theory, and why they are wrong
  • How the oil reserves of Middle East OPEC countries are almost certainly far smaller than claimed, meaning the global peak will come sooner rather than later
  • How the impact of peak-oil will affect society and the fundamentals of traditional economies

David Strahan,
Critically Acclaimed Author and Producer,
BBC Money Programme & Horizon

 

David Strahan is an award-winning business correspondent, investigative journalist and documentary film-maker, with many years experience of popularising some of the most difficult and important stories in business and science. For a decade he reported and produced major investigations for BBC television’s flagship business strand The Money Programme, and for its world-renowned science documentary series Horizon, making highly acclaimed films such as Inside the Enron Scandal and The Moscow Theatre Siege. He is now also the author of a provocative but authoritative book about ‘peak oil’, called The Last Oil Shock.


18:30 Chairman’s Closing Comments
20:00

Capital Creation 2008 GALA DINNER AND COCKTAILS.

Until late. You’ve been focussed and hard working all day, so now its time to relax and enjoy yourself! All attendees are invited to attend The Capital Creation Gala Dinner and Cocktail Evening.

 

Day Two
Wednesday 17th September 2008

08:30
Registration and morning coffee
09:00 Chairman’s Welcome Address
09:15

Human Capital in Private Equity Firms: Addressing Team Stability Over the Long Term, and Managing Generational Changes in the Business

  • • How to retain staff and maintain motivation through a recession or downturn
    • Talent management and reward systems
    • How to manage generational changes in the team
    • Carry distributions among team members
    • How to deal with departures

Chairman: Eric Warner,
Head of M&A and Private Equity Europe,
Mercer

 

Eric is Head of Mercer’s European M&A and Private Equity consulting practice and is a Worldwide Partner. He joined Mercer in 2001, to develop the business with private equity firms based in the UK and throughout Continental Europe.

Giuseppe Campanella,
CEO of Fund of Fund,
State Street Global Investments

 

Giuseppe is the CEO of State Street Global Investments and based in Italy and has extensive experience in co-investments with investments across a wide range of industries.

Richard Green,
Managing Partner,
August Equity

 

Richard joined August Equity in 1988 and has been joint Managing Partner of the business since 2000. He has been responsible for the acquisition of many companies, sat on the boards of various portfolio firms and been responsible for leading the fund raising for three limited partnerships.

Roberto Pilotto,
Partner,
PPM Managers

 

Roberto heads PPM Managers, the London based Funds of Funds investment unit of Prudential plc. He is a member of the Advisory Board of several mid-market buy-out funds in Europe and Asia, where PPM has been investing since 2000.


09:45

The Growth and Evolution of Secondaries: Is the Secondary Sector Still Providing a Good Investment Opportunity?

  • Return expectations for the secondaries market: where to now given market conditions?
  • The rise of secondaries as a portfolio management tool
  • Are secondaries capable of outperforming in a downturn? Lessons from the last cycle
  • How transaction types and structures have evolved in an increasingly sophisticated market
  • Segmentation of secondaries: The strategies that provide the best returns
  • Should institutional investors be currently investing in secondary funds?

Chairman: Elly Livingstone,
Partner and Head of Global Secondaries,
Pantheon Ventures

 

Elly leads Pantheon’s global secondary investment activity and is a member of the Investment Management Committee. Prior to joining Pantheon,

Christiaan de Lint,
Partner,
Headway Capital Partners

 

Christiaan is a founder of Headway Capital. Prior to Headway, Christiaan was part of the investment team of Coller Capital where he sourced, evaluated and closed private equity secondary investments. Before Coller Capital, Christiaan worked at Citigroup’s Alternative Investments Strategies in London.

Daniel Green,
Investment Director,
Greenpark Capital

 

Daniel is an Investment Director at Greenpark Capital, a global private equity secondaries investment advisor based in London. Daniel is responsible for deal sourcing and execution and has over seven years of secondaries investing experience involving transactions world-wide.

Bernhard Engelien,
Director,
Cogent Partners

 

Berhard is a Director in Cogent Partner’s London office and advises clients in continental Europe, the UK and the Middle East. Prior to joining the firm, Bernhard was an Associate Principal at McKinsey & Company where he worked for 6 years serving financial services companies and private equity firms on a broad range of strategy and corporate finance topics in multiple geographies including the UK, continental Europe and the Middle East. He was also a leader of McKinsey’s European Banking & Securities practice

Tim Drake,
Senior Counsel,
Proskauer Rose

 

Tim is Senior Counsel in the London office of Proskauer Rose. Tim has over 20 years experience in the law, and has principally worked as a Mergers & Acquisitions lawyer on a wide variety of transactions, including: BCCI liquidation; restructurings of Isosceles (now Gateway), IPO of Future Network plc and the formation of DFJ Esprit


10:15
Coffee Break and Opportunity to Network
  Track A Track B
10:45

How Private Equity Firms Should Position to Respond to Changes in Small to Mid-Market Leveraged Buyouts: Generalists vs Specialists

  • Trends and issues in being a pan- European group versus a local private equity player
  • Advantages of being a generalist investor versus sector focused
  • Emerging trends in private equity deal flow across sectors and geographies: The regions and sectors that are likely to be in favour over the coming years
  • How private equity firms can position themselves to respond to a changing environment

Karsten Langer,
Partner & Head European Origination,
The Riverside Company

 

Karsten manages Riverside’s European transaction origination activities. He joined Riverside in 2006 and is based in Brussels. From 2000 to 2006, Mr. Langer was Managing Partner of M&A International, an independent corporate finance firm in Brussels.

How to Optimise Returns as a Private Equity Institutional Investor

  • How to determine the optimal size of a fund investment programme
  • Utilising diversification as a critical tool in risk management
  • How to set the correct regional bias: global or regional programmes?
  • The market environment for funds, directs, buyouts and venture
  • How to setting a suitable risk/return target suitable for current market conditions
  • Correct execution in terms of timing

Andrew  Claerhout,
Managing Director,
Teachers' Private Capital

 

Andrew joined Teachers' in 2005 and has been involved in many large transactions Previously, Andrew worked at EdgeStone Capital Partners, Pacific Equity Partners and Bain & Company.

Neil Harper,
Executive Director,
Morgan Stanley Investment Management

Neil managers Morgan Stanley's Private Equity Fund of Funds group and leads European investment activities from the London office. He has 17 years of relevant industry experience. Prior to joining Morgan Stanley AIP, he was a partner at McKinsey & Company in Europe, North America and Asia.

Helen Steers,
Partner,
Pantheon Ventures

Helen leads Pantheon's European primary investment activity and is a member of the Investment Management Committee and the European Investment Committee

Gillian Brown,
Head of Private Equity,
British Airways Pension Investment Management

Gillian joined British Airways Pension Investment Management Ltd in March 2008. She has over 21 years’ experience in private equity fund investing, having been responsible for managing both fund of funds and pension fund portfolios

11:15

Listed Private Equity: Alternative or Complement to Limited Partnership Funds

  • How listed private equity provides a permanent capital vehicle for GPs
  • Using listed private equity to achieve and manage allocations
  • What the buying opportunities are for listed private equity given the current climate
  • Benefits and constraints of listed private equity for different sizes and types of investor

MODERATOR: Andrea Lowe,
Principal,
iPEIT

 

Andrea is the Principal of iPEIT, which seeks to raise awareness and understanding of listed private equity through research and information (www.ipeit.com). Andrea has over 20 years experience in financial services marketing strategy, research and communications. She worked for fund manager GT Management (later INVESCO) in San Francisco and London before launching KL Marketing, an investment management marketing consultancy.

Wilken von Hodenberg,
Spokesman of the Board of Management,
Deutsche Beteiligungs AG

 

Wilken von Hodenberg joined Deutsche Beteiligungs AG in 2000 as a Member of the Board of Management and its Spokesman. His previous experience includes 15 years in investment banking, as well as three years as the
finance director for a major German retail chain.

Neil Sneddon,
Private Equity Funds,
F&C Asset Management

 

Neil is a director in the Private Equity funds team at F&C Asset Management plc. Neil joined F&C in June 2005 when the private equity business of Martin Currie was acquired by F&C along with the management contract for Martin Currie Capital Return Trust. Neil is involved in the investment management of F&C Private Equity Trust and F&C European Capital Partners LP as director in supporting the development of F&C’s private equity funds business.

Louisa Symington-Mills,
Analyst- Alternative Investments,
RBS Global Banking & Markets

 

Louisa is a research analyst in the alternative investment funds team at RBS. The team specialises in exchange traded, closed-end investment companies that invest in alternative assets, with a main focus on listed private equity and listed hedge funds. Louisa started her career as a fund analyst at M&G Investment Management, before spending three years as a research analyst at Pragma Wealth Management, a fund of hedge funds.

What Real Assets Can Bring to Your Portfolio

  • Why real assets offer an improvement in your “Efficient Frontier” due to uncorrelated positive returns
  • Introduction to timber where 70% of the value is from biological growth
  • Investing in oil & gas and de-bunking myths, like the concept of “Peak Oil”
  • Gaining exposure to aircraft leasing: giving investors access to value creation normally available only to industry operators
  • The next big thing: Why wind energy is becoming increasingly attractive to investors.

Chairman: Pete Flynn,
Director,
Candela Capital

Richard Bowley,
Co-founder,
Stafford Timberland

As Co-founder of Stafford Timberland Richard focuses on internationally diversified timberland fund of funds investments, investing internationally on behalf of specialised, sophisticated institutions.

Simon Oddie,
Co-founder,
Gemini Oil & Gas

Simon has over 30 years' experience in the oil and gas industry, including 21 years of international experience and was a founder partner in the year 2000. He was previously CEO of the Italian subsidiary of Enterprise Oil plc

Thomas Rottner,
Managing Partner,
Platina Partners

Thomas joined Platina in 2002 from Sithe Energies, responsible for acquisitions in Europe. Platina Finance is a private equity firm specialising in buyouts and renewable energy

Richard Noble,
Partner,
SkyTech AIC

Richard has more than 30 years experience in the aircraft manufacturing, marketing and finance industries. He has worked successfully to bring new aircraft financing, marketing and management products to the attention of the world's airlines and financial institutions.

 

11:45
Coffee Break and Opportunity to Network
12:05

The New Wave of Capital Creation – What Can LP’s Specialising in Smaller, Emerging or ‘New Managers Speak’ Offer Investors?

  • What qualifies as a managers as ‘emerging’
  • Why emerging managers are increasingly attractive in terms of risks vs returns
  • What investors require from emerging managers
  • How to avoid the biggest mistakes when investing in emerging managers
  • Case studies in successful emerging managers

Chairman: Pete Flynn,
Director,
Candela Capital

David Seligman,
Managing Director,
Edmond
de Rothschild Private Equity Select, LLP

David heads Edmond de Rothschild Private Equity Select, a fund-of-funds team based in that seeks to select the best mid-market LBO funds run by European private equity managers.

Martin Dreher,
Director,
ABN AMRO

 

Martin is a very experienced private equity investment adviser to institutional pension funds. He previously worked at Strategic Capital Management AG where he had responsibility for the selection of private equity fund investments for institutional client private equity programmes. Originally with ViaNova Capital, the firm has now been integrated within ABN AMRO

David Jeffrey,
Managing Partner,
Parish Capital

Parish Capital provides access to experienced private equity managers focused on small and niche opportunities. David joined the Parish Capital team in 2006 to head the London office and spearhead the European strategy for the company.


12:35

Final Discussion and Chairman’s Closing Summary: How Serious Are the Threats to Our Industry? How to Optimise Operations, Assets, and Exit Strategies Given Short to Medium Term Expectations

  • The key trends in European mid-market buyout activity and what this means to the industry if they continue
  • What is the current and future appetite of banks to fund transactions is likely to be
  • How have terms changed and what this means for the sector
  • The alternatives to traditional bank debt that are becoming increasingly available and how to access them
  • The future prospects for access to debt: Is the golden age well and truly over?

Chairman: Vince O’Brien,
Director,
Montagu Private Equity

 

James Mawson,
Editor,
Private Equity News

James has been editor of Private Equity News since June 2006 and has been covering the sector since 1999 within financial services.


13:15
End of Conference