Capital Creation Growth Economies Stream

10.30 Registration and refreshments Registration and refreshments

10.50 Chairperson’s welcome and opening remarks Chairperson’s welcome and opening remarks

11.00 Great opportunity or great myth? Leading LPs share their expectations of PE in growth economies going forward Ferdinand Seibert, Managing Director, Zurich Alternative Asset Management Olaf Neubert, Managing Partner, Hedges Capital Great opportunity or great myth? Leading LPs share their expectations of PE in growth economies going forward The attractiveness of emerging vs. developed markets – are they really the panacea to low developed market growth? Which regions deserve the most attention and why Regional vs. Thematic vs. Diversification drivers Considerations when choosing and assessing fund managers in growth economies Implications of being a foreign investor on due diligence The heightened importance of alignment with other LPs What investors need to see to justify commitment Counterbalancing the risks in frontier markets What happens when things go wrong – preparedness strategies and contingency plans Moderator: Olaf Neubert, Hedges Capital Ferdinand Seibert Managing Director, Zurich Alternative Asset Management Olaf Neubert Managing Partner, Hedges Capital

11.45 Secondaries in growth economies: Gaining access to these opportunities and how do you price the risk? Are these trades still a drop in the ocean compared to the record deal-flow in developed markets? Secondaries in growth economies: Gaining access to these opportunities and how do you price the risk? Are these trades still a drop in the ocean compared to the record deal-flow in developed markets? The evolution of secondary opportunities in growth economies Growth in the market driven by liquidity requirements Increasing the attractiveness of frontier investment With China driving the current wave, where will the next originate? Comparing established vs. emerging secondaries strategies Is now the right time for the emerging markets? Origination: where the deals are being sourced, who the sellers are what are their motivations? Skill sets and relationships needed to be effective in emerging markets Finding, evaluating and transacting growth economy secondaries Which markets provide the best fit and an attractive secondaries market Identifying, managing and mitigating the risks involved Secondaries as a tool for GPs for IR and addressing LP liquidity concerns Moderator: Mark McDonald, Keyhaven Capital Partners

12.30 Expert quick-fire insight debates Hear the perspectives of several key opinion leaders as they present their market view and make a case for and against investing in growth economies. Each quick-fire debate, supported by academic research, will run for 10mins and will allow you to interact and vote – only one team can win!Topics for debate include: Private Equity only delivers consistent alpha returns in sophisticated financial markets Separating Alpha from Beta in growth economy fund managers First time funds in frontier markets outperform latter funds BRICs vs. Frontier Markets; are Frontier Markets worth risk? Can they really be tomorrow’s BRICs? Moderator: Sarah Alexander, EMPEA

13.20 Speaker-hosted round-tables & close of Growth Economies stream Engage in discussion and debate with the previous session’s speakers and panellists. This is your opportunity to network and speak openly about any questions not covered during their session and continue the incisive debate. Beyond Brazil: Where next for Latin America? Mark Ramsey, Executive Director, Macquarie Capital Russian PE: the best market to invest or the most difficult one? Oleg Jelezko, CEO, Da Vinci Capital Management A question of risk: Effectively measuring the attractiveness of a rapidly growing region. Alexander Groh, Professor of Finance, EMLYON Business School

14.00 End Of Capital Creation Growth Economies Stream Day End Of Capital Creation Growth Economies Stream Day