Documente Academic
Documente Profesional
Documente Cultură
Free For Foundations, Endowments, Pension Funds, ILPA Members & SWFs
Email: lgriffin@icbi.co.uk to apply
4th Annual
Conference organised by
ICBI
www.superreturnemergingmarkets.com
Investor Summit: Monday 25th June, 2012 Main Conference: Tuesday 26th Thursday 28th June, 2012 InterContinental Hotel, Geneva
120+
Private Equity, Growth Capital & Venture Capital In Converging, Emerging & Frontier Economies
Insights From 85+ LPs & FoF Speakers Including
A Forum For LPs To Compare & Contrast Investment Opportunities Across Regions
NEW
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Industry Experts
TPG Cambridge Associates China New Enterprise Investment Apax Partners Jadwa Investment VCCEdge Global Environment Fund Citic Private Equity Funds Management Citadel Capital Helios Investment Partners Actis Apollo Global Management Macquarie Infrastructure & Real Assets Tuninvest - Africinvest Innova Capital Bain Capital Asia Mid Europa Partners Advent International Watledge Consulting eleQtra Clearwater Capital Partners SEAF Spring Capital Abraaj Capital PEAROnline Probitas Partners Brookfield OMelveny & Myers Africa Finance Corporation Baring Private Equity Partners Northstar Pacific Pacific Agri Capital CeTIM Saints Capital GSR Ventures Enterprise Investors Pomona Capital UFG Private Equity Aureos Advisors Quvat Management BTG Pactual Absa Capital Standard Chartered Bank Wermuth Asset Management Medu Capital Beltone Financial Axonia Partners New Russia Growth CEPRES IDFC Private Equity Shoreline Capital Cordiant Capital Adlevo Capital Preqin Simba Capital ENS The Economist Saatchi & Saatchi Switzerland HEC School Of Management Transparency International GIIRS Creador Global Environment Fund
Pedro Simko Member of the Worldwide Executive Board SAATCHI & SAATCHI
Deborah Hardoon Oliver Gottschalg Professor, Strategy Department Senior Research Coordinator TRANSPARENCY HEC SCHOOL OF INTERNATIONAL MANAGEMENT
Plus!
Featuring:
Teachers Private Capital, Siguler Guff, Overseas Private Investment Corporation, Granite Capital Management, OBVIAM, Morgan Stanley Investment Management, Lyrique, Bimcor, DB Private Equity, RWB, FMO, National Holding, DEG, Sarona Asset Management, CDC Group and many more
Co-Sponsors
Associate Sponsors
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@SuperReturn
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For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
INVESTOR SUMMIT
Featuring LP Perspectives & Focus On Frontier Markets
Monday 25th June, 2012
08.15 08.40 Coffee & Registration Chairs Opening & Welcome
LP INTERVIEW
09.30 An Interview With An Institutional LP: Which Geographies Are They Focusing On Now & How Is Their Investment Model Evolving? Jane Rowe, Senior Vice President, TEACHERS PRIVATE CAPITAL LP Interviewed By: Oliver Gottschalg, Professor, Strategy Department, HEC SCHOOL OF MANAGEMENT
An extraordinary insight from a leading private equity academic into the performance of those funds who have achieved great returns in developed markets and are now moving into emerging economies. Does the one size-fit-all approach work?
10.00
KEYNOTE INTERVIEW
Topic tbc Tom Speechley, Senior Partner, ABRAAJ CAPITAL & Sev Vettivetpillai, CEO, AUREOS ADVISORS
LP Interview
Monday 25th June, 09.30am
DFIs
10.20 What Can DFIs Do To Encourage More Commercial Investment Into The Funds They Back? How Are DFIs Aligning & Standardising Their Investment Terms? Moderator: David Wilton, CIO, IFC Joachim Schumacher, First Vice President, Equity & Mezzanine, DEG Gerhard Pries, CEO & Managing Partner, SARONA ASSET MANAGEMENT Jay Koh, Head of Investment Funds & Chief Investment Strategist, OVERSEAS PRIVATE INVESTMENT CORPORATION Coffee
10.50
An opportunity to hear from one of the most sophisticated LPs in the world, as Jane Rowe discusses how Teachers Private Capital will invest in the future and why they are increasingly moving away from traditional fund models to a direct & co-investment strategy.
LP CONCERNS
11.20 Opacity, Lack Of Exits, Indiscipline, Mediocre Performance, Manager Turnover, Questionable Manager Motivation, Illiquidity, Market Distortion By New Large Investors: Why Do LPs Continue To Allocate To Emerging Market Private Equity? Anselm Adams, Director - Senior Private Equity Portfolio Manager, PECA Robert Wages, Head of Private Equity, NATIONAL HOLDING Amin Al-Rashid, CEO, AR INVESTMENT PARTNERS Paul Newsome, Executive Director - Head of Investment, UNIGESTION
RETURN EXPECTATIONS
To What Extent Will Returns From Emerging Markets Private Equity Live Up To Expectations? Can High Growth & High Returns Continue As Markets Converge? Moderator: Kelly DePonte, Partner, PROBITAS PARTNERS Anubha Shrivastava, Managing Director Asia, CDC GROUP Gert-Jan Monster, Senior Investment Officer Private Equity, FMO
11.50
With increasing concerns around valuations in emerging markets some managers are moving into new, underdeveloped frontier economies. What are the risks associated with these markets & how do managers mitigate them? Are DFIs the only LPs ready to invest here? An afternoon dedicated to a series of discussions & presentations on the key issues surrounding investment in frontier markets.
GP DISCIPLINE
12.20 Discipline Is A Scarce Commodity Among GPs Discuss Moderator: Alexandre Alfonsi, Founding Partner, AXONIA PARTNERS Neil W. Harper, Managing Director, MORGAN STANLEY ALTERNATIVE INVESTMENT PARTNERS Hans Van Swaay, Partner, LYRIQUE Nicolas Drapeau, Director, Private Markets, BIMCOR
12.50
Lunch Plus! LP Lunch Hosted Lunch Table Hosted By: David Wilton, CIO, IFC & Scott McCormack, Partner, GRANITE CAPITAL MANAGEMENT
ALIGNMENT OF INTEREST
14.00 How Are LPs Harnessing The Changing Balance Of Power Between LPs & GPs? How Do GPs Manage The Competing Demands Of Their Investors? Howard F. Searing III, Director, Portfolio Manager, DUPONT CAPITAL MANAGEMENT Nicolas Drapeau, Director, Private Markets, BIMCOR
EMERGING MANAGERS
Discerning Quality Managers With Little Or No Track Record: What Are The Indicators Of Solid Performance? Joachim Schumacher, First Vice President, Equity & Mezzanine, DEG Rod Evison, Managing Director Africa, CDC GROUP
With transparency on the top of LPs list of concerns, this is a fascinating opportunity to hear from the organisation which compiles the worlds most trusted and widely used index of corruption. Find out how Transparency International measures corruption and how a lack of transparency affects businesses in different markets.
DUE DILIGENCE
14.30
What Do Experienced Investors In Emerging Markets Look Out For When Performing Due Diligence On Emerging Markets Funds? How Does This Differ From Developed Markets? Wael Aburida, CEO, ADDAX BANK
SMEs
What Are The Ways In Which SME Investors Discern The Credibility Of An Entrepreneurial Business? How Do Institutional Investors Gain Access To SME Deals & How Do They View The Risks? Hubertus van der Vaart, Executive Chairman & Co-Founder SEAF
LP Perspectives Stream
Monday 25th June, 11.20am 17.00
15.00
Afternoon Tea
A chance to hear from LPs on what they are looking for from an emerging markets manager; topics will include LP/GP alignment of interests, due diligence, return expectations and a master class in fundraising. If you want to know what LPs are thinking, dont mis this valuable insight.
PANEL DISCUSSION
What Is The Commercial Justification For Impact Investing? Is This Just An Asset Class For DFIs & Development Capital? Can Commercial LPs Be Convinced Of The Benefits? Vivina Berla, European Managing Director & Senior Partner, SARONA ASSET MANAGEMENT Mark Goldsmith, Director, Environment, Social and Governance ACTIS
17.00
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
INSTITUTIONAL LP PERSPECTIVES
08.40
LP
How Are Large Institutions Responding To Sluggish Growth In The Global Economy? What Impact Will This Have On Allocations To Emerging Market Private Equity? Anders Strmblad, Head of Alternative Investments, AP-FONDEN 2 Courtney Villalta, Senior Investment Manager, TEACHER RETIREMENT SYSTEM OF TEXAS Jane Rowe, Senior Vice President, TEACHERS PRIVATE CAPITAL Dirk Meuleman, Fund Manager, Private Equity & Infrastructure, MN SERVICES
09.10
KEYNOTE ADDRESS
Hisham El-Khazindar, Managing Director & Co-Founder, CITADEL CAPITAL
Large institutions are increasingly consolidating their portfolios around select managers. Is this the best way to gain access to the best returns and how will it impact allocations to emerging markets?
TURKEY
10.30
Cambridge Associates present some of the results from their comprehensive data, comparing performance statistics from regions and countries around the world.
11.00
Morning Coffee
SUB-SAHARAN AFRICA
11.55 - 12.25 How Can LPs Get Comfortable With Investing In African Private Equity? What Are The Options For LPs Wanting To Access The Growth Story Across This Diverse & Fragmented Continent? Dushy Sivanithy, Principal, PANTHEON, Andrea Heinzer, Investment Manager and Partner, OBVIAM Scott Nelson, Head of ENS Africa, ENS Davinder Sikand, Regional Managing Partner & Executive Director & Deputy CEO, AUREOS ADVISORS Jeffrey Leonard, Founder & CEO, GLOBAL ENVIRONMENT FUND Comparing Returns Across Emerging Markets Private Equity: Which Regions & Countries Have Outperformed? Miriam Schmitter, Managing Director, CAMBRIDGE ASSOCIATES Lunch Plus! LP Hosted Lunch Tables Hosted By: Courtney Villalta, Senior Investment Manager, TEACHER RETIREMENT SYSTEM OF TEXAS & Dirk Meuleman, Fund Manager, Private Equity & Infrastructure, MN SERVICES Stream A: Asia Stream C: Emerging Market Themes Stream B: Emerging Europe Chair: Martin Haemmig, CETIM Chair: Mark OHare, PREQIN CEE How Is The Euro Crisis Impacting Investment In Central & Eastern Europe? Will These Economies Emerge Relatively Stronger Once The Dust Has Settled? How Is The Nature Of Deal Flow Changing & What Are The Best Methods Of Exploiting Attractive Valuations? Anne Fossemalle, EUROPEAN BANK FOR RECONSTRUCTION & DEVELOPMENT Gabriel Kamensky, SWISS RE PRIVATE EQUITY PARTNERS Pierre Mellinger, PINEBRIDGE INVESTMENTS Thierry Baudon, MID EUROPA PARTNERS NEW DATA
After 2011s lively debate on which region provided the best returns; this years audience vote on the strategy LPs should use when accessing emerging markets. A proponent of each strategy will battle it out in a 5 minute speech before the audience have their say via real time electronic polling.
12.45
13.10
John Micklethwait, the Editor-in-Chief of one of the worlds most respected newspapers, gives his unbiased thoughts on where the world is heading, and shares his view on current political and economic instability. A fantastic presenter not afraid to speak his mind, this is a session that cannot be missed.
Topic & Speaker tbc 14.30 If you are interested in speaking during this session, please contact James Roberts at jroberts@icbi.co.uk or Tel: +44 (20) 701 77944
INFRASTRUCTURE RUSSIA MYTHS & REALITIES How Are Private Equity Investors Capitalising On The Perceived Vs. Actual Risk: Why Does Russia Get Such Urgent Need For Infrastructure Across Many Emerging A Bad Press? How Justified Is This, & What Returns Are NEW DATA - INDIAN PRIVATE EQUITY Markets? How Do Managers Overcome The Inherent Risks People Actually Seeing On The Ground? Is Now The 15.00 15.30 Of Nationalisation, Illiquidity & Long Term Investing? Right Time To Take Advantage Of Attractive Valuations? Gad Cohen, ELEQTRA Moderator: Jorgen Smeby, SIMBA CAPITAL 15.00 Where Are Returns Being Generated In Indian Private Equity? New Research From The Cutting Edge Oliver Andrews, AFRICA FINANCE CORPORATION Henry Potter, ALPHA ASSOCIATES Kunal Srivastava, VCCEDGE David Creighton, CORDIANT CAPITAL Robert Sasson, UFG PRIVATE EQUITY Ben Way, MACQUARIE Jochen Wermuth, WERMUTH ASSET MANAGEMENT INFRASTRUCTURE & REAL ASSETS INDIAN GPs Timothy Krause, IFC GLOBAL FINANCIAL MARKETS 15.30 16.00 AGRIBUSINESS POLAND Examining How Indian GPs Discipline & Strategy Has What Are The Current Opportunities In The Agribusiness How Are Polish Private Equity Firms Generating The Evolved In The Context Of High Valuations, Best Returns In The Region & How Will They Sustain Value Chain & How Does Investing Vary Between Regions? Overcrowding & Lack Of Exit Opportunities What Do LPs Need To Understand Before Investing? Long Term Growth? How Do LPs See Poland As An Shashank Singh, APAX PARTNERS 15.30 Jeff Leonard, GLOBAL ENVIRONMENT FUND Investment Destination? Rahul Bhasin, BARING PRIVATE EQUITY PARTNERS Hubertus van der Vaart, SEAF Krzysztof Kulig, INNOVA CAPITAL Raja Parthasarathy, IDFC PRIVATE EQUITY Bill Randall, PACIFIC AGRI CAPITAL Dariusz Pronczuk, ENTERPRISE INVESTORS
INDIA WORKSHOP
A great chance to have lunch and conversation with some of the biggest investors in the industry; delegates sign up on the day to share lunch and informal discussion with two LPs. Hosts include Courtney Villalta, Senior Investment Manager, TEACHER RETIREMENT SYSTEM OF TEXAS & Dirk Meuleman, Fund Manager, Private Equity & Infrastructure, MN SERVICES
India Workshop
Tuesday 26th June, 15.00 16.00
This session shall begin with a presentation of new research on where returns are being generated in Indian private equity before breaking out into a panel discussion with respected Indian GPs.
16.00
Afternoon Tea
Do Enough Attractive Deals Exist & How Does Private Equity Compete With Other Sources Of Finance To Access The Best Deals? Edmond Ng, AXIOM ASIA PRIVATE CAPITAL Vincent Chan, SPRING CAPITAL Xiaoyang Yu, CHINA NEW ENTERPRISE INVESTMENT
INDONESIA
Benefitting From The Natural Resources Boom In Indonesia: What Is The Optimum Way To Access 16.50 Investible Assets & How Is The Local Private Equity Community Evolving To Manage Institutional Capital? Patrick Walujo, NORTHSTAR PACIFIC Tom Lembong, QUVAT MANAGEMENT
17.2018.20 18.0019.30 19.30
DISTRESSED IN ASIA
How Are Firms Taking Advantage Of The New Distressed Opportunities In China & Emerging Asia? Robert Petty, CLEARWATER CAPITAL PARTNERS Benjamin Fanger, SHORELINE CAPITAL
This is your chance to meet and discuss your field of expertise or geography with like-minded colleagues. The session is informal and champagne is served throughout.
Champagne Networking Roundtables Your chance to participate in in-depth discussions around specialist topics. Sign up on the day to one of the roundtables. See page 8 for details.
Gala Networking Reception End of Day One
Relax and mingle at our fabulous drinks reception. A perfect way to discuss the days events whilst creating new contacts from across the industry.
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
CO-INVESTMENTS
08.40 Are Co-Investments The Best Way To Boost Returns & Access The Best Deals? What Are The Benefits To LPs In Terms Of Control, Alignment Of Interest & Reduction In Fees? What Are the Potential Pitfalls For LPs & GPs? Claudio Siniscalco, Principal, HARBOURVEST PARTNERS Jim Strang, Principal, HAMILTON LANE Paul Van Houtte, Head of International Equity & Funds, CASSA DEPOSITI E PRESTITI Alexandre Motte, Managing Director & Head of Co-Investment, AXA PRIVATE EQUITY
09.10
KEYNOTE ADDRESS
Topic tbc Alexander Abolmasov Managing Partner, NEW RUSSIA GROWTH
Open only to pension plans, foundations, endowments, DFIs, SWFs & ILPA members. This is an invitation only forum which allows LPs the chance to discuss fund performance, manager selection and other issues in an exclusive setting. To apply for a place, please contact Laura Griffin at: lgriffin@icbi.co.uk
INDIA
09.35 To What Extent Has India Disappointed? What Returns Do LPs Want To See & What Will Trigger The Required Level Of Exits? Anubha Shrivastava, Managing Director Asia, CDC GROUP Nils Rode, Managing Director, ADVEQ MANAGEMENT Idsert Boersma, Manager Private Equity, FMO Mintoo Bhandari, Senior Partner, APOLLO GLOBAL MANAGEMENT
10.35
One of the most sophisticated LPs in Europe, Nick Moakes of the Wellcome Trust speaks about where they expect to find alpha.
BRAZIL
11.15 Dealing With The Specific Challenges Of Investing Into Brazilian Private Equity: Managing In An Overheating Economy, Dealing With Macroeconomic Challenges & Balancing Local & Foreign LP Expectations Juan Pablo Zucchini, Managing Director, ADVENT INTERNATIONAL Carlos Hnein, Partner, QUILVEST Rafael Horta, Partner, BTG PACTUAL
LP/GP Speed Networking is a unique opportunity to meet & exchange business cards with 15 LPs in 15 minutes. LPs and GPs are separated into two groups and then meet each other one by one, explaining their fund in a one minute time slot and swapping business cards. If there is a fit, you can follow up later!
13.15
14.30
Pedro Simko of Saatchi & Saatchi will speak on the power of branding and why some brands create such a hold over us and others fail. Not to be missed for those looking to grow and develop businesses and brands in new markets.
Stream B: Middle East & On The Ground MIDDLE EASTERN PRIVATE EQUITY
How Are Fund Managers Broadening Out Of The GCC Region, Overcoming Political Instability & Poor LP Perceptions To Deliver Growth? When Will Exits Come Back To The Market? Moderator: Brad Bourland, JADWA INVESTMENT Wael Aburida, ADDAX BANK Mohamed Semary, ABRAAJ CAPITAL
NORTH AFRICA
15.20 Where Next For North Africa? How Have GPs Managed Their Investments Through Recent Turmoil, & How Can Managers In Other Regions Ensure They Are Prepared For The Unexpected? Hear Lessons Learned & Share Best Practice Ziad Oueslati, TUNINVEST- AFRICINVEST Angus Blair, BELTONE FINANCIAL Rania Gohar, IFC Stephen Murphy, CITADEL CAPITAL
Fundraising? Then take the opportunity to have an uninterrupted 90 second pitch to a panel of LPs. Get instant feedback, with a fabulous prize for the winner. This session is fun, informal and extremely popular. Sign-up details go out to all registered and paid delegates two weeks before the event.
SUB-SAHARAN AFRICA
15.50 How Are Private Equity Firms Tapping Into The Domestic Consumer & Natural Resources Sectors In Africa? How Are They Surpassing The Challenges Presented By Political Volatility, Governance & Competition From Other Capital Sources? Line Picard, AFRICAN DEVELOPMENT BANK Kayode Akinola, HELIOS INVESTMENT PARTNERS Yemi Lalude, ADLEVO CAPITAL
16.20
Afternoon Tea
Stream B
GAME
This session aims to target some of the toughest, and most challenging problems that managers face. Broken into a series of roundtable discussions each led by an expert in the field, the sessions focus on common problems such as currency concerns, governance & transparency and the pool of talent.
LP SIMULATOR GAME
Understanding What LPs Think About Each Emerging Market Today With: Judge Real-Life Fund Case Studies In This Interactive Session Simon Thornton, PEARONLINE Anne-Maree Byworth, WATLEDGE CONSULTING Solomon Wifa, O'MELVENY & MYERS
LP Simulator Game
Wednesday 27th June, 16.45 17.45
ESG
17.15 To What Extent Is Environmental & Social Governance A Priority For Commercial LPs? What Will Be The Impact Of New Measures On Emerging Market Fund Managers? Ritu Kumar, ACTIS Niclas During, CDC GROUP Maaike van der Schoot, ALPINVEST PARTNERS Geetha Tharmaratnam, AUREOS ADVISORS Gala Networking Reception End of Day Two
New for SuperReturn Emerging Markets, we are pleased to introduce the LP Simulator Game. Attendees will get to choose from a selection of anonymous real emerging market case-study funds, and make investment decisions in groups over champagne. Then LPs provide feedback on how they approach fundraising problems today.
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
EUROPEAN LPS
09.10 How Are European LPs Allocations To Emerging Markets Private Equity Changing? How Do They View Emerging Markets Within Their Wider Portfolio? Moderator: Janusz Heath, Managing Director, CAPITAL DYNAMICS Ivan Vercoutere, Partner, LGT CAPITAL PARTNERS Hans Van Swaay, Partner, LYRIQUE Erik Kaas, Partner, PARTNERS GROUP Gerhard Bauer, Investment Director, ALLIANZ CAPITAL PARTNERS
09.50
KEYNOTE ADDRESS
David Bonderman, Founding Partner, TPG
KEYNOTE
David Bonderman, Founding Partner, TPG and one of the biggest names in global private equity, will share his thoughts on the global emerging markets in a keynote address.
11.00
REAL ASSETS
11.30 Are Real Assets The Best Hedge Against Inflation? What Is The Optimum Way Of Accessing The Asset Class? Moderator: Berry Polmann, Executive Director, ADVEQ MANAGEMENT Michael Flood, Managing Director, NORTHLEAF CAPITAL PARTNERS Harry van den Heuvel, Senior Investment Manager Alternatives, ACHMEA
This is a chance to have your say and hear your views analysed by some of the biggest names in the industry. The SuperReturn audience votes on a series of questions using anonymous real-time electronic polling. The results are then analysed by our expert panel. Not to be missed.
Strategy Discussion
Thursday 28th June, 12.00
12.40
Beginning with a data presentation on how successful different strategies are across emerging markets, the session continues with a panel discussion involving proponents of buyout, growth and venture.
Using electronic polling, the SuperReturn audience choose the next hot emerging market economies. We then create a brand new emerging market acronym from the results. Hosted by Patricia Dinneen, Managing Director, SIGULER GUFF
A panel of LPs discuss what GPs need to do now to get capital allocated in a tough fundraising environment. The session is followed by a series of roundtable discussions led by speakers from throughout the day.
16.00
See the latest event photos on our ICBI- Events Flickr page.
Would You Like To Join The Speaker Faculty At SuperReturn Emerging Markets?
Please contact James Roberts at jroberts@icbi.co.uk or Tel: +44 (0) 20 7017 7944
Tune into SuperReturn TV to watch highlights from our events and interviews with speakers
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
Interviewed By: Oliver Gottschalg, Professor, Strategy Department, HEC SCHOOL OF MANAGEMENT
See bio above
KEYNOTE INTERVIEW
Topic tbc Tom Speechley, Senior Partner, ABRAAJ CAPITAL
Tom Speechley is a Senior Partner of Abraaj Capital and the Chief Executive Officer of Riyada Enterprise Development (RED), Abraajs small and medium enterprise (SME) investment platform. He joined Abraaj Capital in 2006 and is a member of the Abraaj Holdings Board of Directors, as well as the groups Executive and Investment Committees. Mr. Speechley is responsible for the firms SME investment program including the RED and Kantara Funds totalling some US$ 650 million of capital.
09.30
LP INTERVIEW
An Interview With An Institutional LP: Which Geographies Are They Focusing On Now & How Is Their Investment Model Evolving? Jane Rowe, Senior Vice President, TEACHERS PRIVATE CAPITAL
Jane Rowe is responsible for strategic portfolio growth and deal stewardship, including global fund and private equity investments. Teachers Private Capital is the private equity department of the C$107billion Ontario Teachers' Pension Plan. Janes strong background in credit and equity investing was developed during a more than 20-year career at the Scotiabank Group of companies where she held senior roles at Scotia Merchant Capital Corporation, the bank's Canadian private equity fund, was President and CEO of RoyNat Capital Inc, Scotiabank's wholly owned mid-market merchant bank, and was President and CEO of Scotia Mortgage Corporation.
10.20
Jay Koh, Head of Investment Funds & Chief Investment Strategist, OVERSEAS PRIVATE INVESTMENT CORPORATION
Leading the Investment Funds Department, which provides support for private equity investment into emerging markets, Mr. Koh oversees 33 active funds with over $2.3 billion in commitments, with an additional $1.5 billion approved to 19 funds. As Chief Investment Strategist, Mr. Koh guides development of new products and strategic relationships for OPIC. Mr. Koh also served at OPICs Chief Financial Officer from 2010-2011. Prior to joining OPIC, Mr. Koh invested in private equity and growth equity, both in the United States and internationally.
DFIs
What Can DFIs Do To Encourage More Commercial Investment Into The Funds They Back? How Are DFIs Aligning & Standardising Their Investment Terms? Moderator: David Wilton, CIO, IFC
David Wilton is Chief Investment Officer for IFCs Private Equity and Investment Funds Department with responsibility for IFCs investment programme in emerging market funds globally, and a member of the Pension Finance Committee of the World Bank Group. David joined the Funds Department of IFC at its inception in 2000 and has been responsible for turning around the portfolio and developing the funds strategy. David previously worked in the World Bank Pension Fund where he was responsible for bringing the private equity and real estate portfolios back into internal management.
10.50 Coffee
"I can comfortably say it was the best event I attended this year"
Selcuk Yorgancioglu, Senior Partner, Abraaj Capital
LP Perspectives Stream
11.20
LP CONCERNS
Opacity, Lack Of Exits, Indiscipline, Mediocre Performance, Manager Turnover, Questionable Manager Motivation, Illiquidity, Market Distortion By New Large Investors: Why Do LPs Continue To Allocate To Emerging Market Private Equity? Anselm Adams, Director Senior Private Equity Portfolio Manager, PECA
Anselm is the Managing Director of family office Adams Capital Partners, and advisor through Private Equity Capital Advisers Limited of a fund managing over US$100m in private equity assets: fund-of funds, funds and direct investments. He has more than 18 years experience in private equity, venture capital and investment banking.
FRONTIER MARKETS
Accessing Attractive Valuations & Benefitting From Lack Of Competition In A High Growth Environment: How Do Managers Balance The Risks With The Potential Rewards? Moderator: Patricia Dinneen, Managing Director, SIGULER GUFF
Patricia Dineen has primary responsibility for managing the BRIC Opportunities Funds, focusing on private equity investments in Brazil, Russia, India and China. Prior to joining Siguler Guff in 2004, she was at Cambridge Associates where she led the emerging markets private equity advisory business. Previously, she worked for 10 years at British Telecommunications. She has also held positions at Hughes Communications, RAND Corporation, and the White House.
Featuring 'Meet the LP' Hosted Lunch Tables Hosted By: David Wilton, CIO, IFC & Scott McCormack, Partner,
EMERGING MANAGERS
Discerning Quality Managers With Little Or No Track Record: What Are The Indicators Of Solid Performance? Joachim Schumacher, First Vice President, Equity & Mezzanine, DEG
See bio above
Jay Koh, Head of Investment Funds & Chief Investment Strategist, OVERSEAS PRIVATE INVESTMENT CORPORATION
See bio above
12.20
GP DISCIPLINE
Discipline Is A Scarce Commodity Among GPs Discuss Moderator: Alexandre Alfonsi, Founding Partner, AXONIA PARTNERS
Alexandre is a Founding Partner of Axonia Partners, a private equity and corporate finance advisory firm. Within Axonia Partners, Alexandre specialices in advising private equity teams and organisations on their fundraising, secondary transactions and special situations worldwide (including Emerging Markets in particular), and has over 17 years of relevant experience acquired in various professional settings internationally.
14.30
SMEs
What Are The Ways In Which SME Investors Discern The Credibility Of An Entrepreneurial Business? How Do Institutional Investors Gain Access To SME Deals & How Do They View The Risks? Hubertus van der Vaart, Executive Chairman & CoFounder, SEAF
Bert van der Vaart was one of two co-founders of SEAF in 1989, when it was known as the CARE Small Business Assistance Corporation (CARESBAC). Mr. van der Vaart negotiated the establishment and capital raising of CARESBAC-Polska, SEAFs first fund in Poland in 1992. He joined SEAF on a full time basis in 1994 as Director-General of that fund. While serving as DirectorGeneral of CARESBAC-Polska from August 1994 until May 1997, the company completed 27 investments and realised its first 6 exits.
11.50
RETURN EXPECTATIONS
To What Extent Will Returns From Emerging Markets Private Equity Live Up To Expectations? Can High Growth & High Returns Continue As Markets Converge?
Moderator:
12.20
"The content and attendee seniority was very good: a very useful conference to have participated in"
Marleen Groen, CEO, Greenpark Capital
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
INVESTOR SUMMIT
LP Perspectives Stream
Nicolas Drapeau Director, Private Markets BIMCOR
Bimcor is a mid-size corporate pension plan based in Canada with an active allocation to private equity and infrastructure. Before joining Bimcor, Nicolas worked for Pantheon Ventures, a large global fund of funds in their London office for three years after a four year spell with the European team of the Russell private equity fund of funds in Paris. He started his career at Caisse De Dpt Et Placement Du Qubec focusing on international fund investments.
14.30
DUE DILIGENCE
What Do Experienced Investors In Emerging Markets Look Out For When Performing Due Diligence On Emerging Markets Funds? How Does This Differ From Developed Markets? Wael Aburida CEO ADDAX BANK
Wael has twenty years of senior level experience in private equity, mergers and acquisitions, and investment banking. Prior to becoming the CEO of Addax Bank in the UAE, where Wael works on fund selection, he was the director of M&A and Strategic Investments for Waha Capital, a Middle Eastern asset manager.
12.50 Lunch
Featuring 'Meet the LP' Hosted Lunch Tables Hosted By: David Wilton, CIO, IFC & Scott
How Are LPs Harnessing The Changing Balance Of Power Between LPs & GPs? How Do GPs Manage The Competing Demands Of Their Investors? Howard F. Searing III Director, Portfolio Manager DUPONT CAPITAL MANAGEMENT
Mr. Searing joined DCM in 2002 as a performance analyst and is now a member of the investment team responsible for partnership selection and portfolio management. Prior to joining DCM, Mr. Searing worked as a performance analyst at Morgan Stanley Investment Advisors where he was responsible for monitoring and reporting on performance for retail and institutional clients. Prior to joining Morgan Stanley Investment Advisors, Mr. Searing worked at Garban Securities, Inc. in the Mortgage Backed and Asset-Backed trading area.
15.50 16.20
PANEL DISCUSSION
What Is The Commercial Justification For Impact Investing? Is This Just An Asset Class For DFIs & Development Capital? Can Commercial LPs Be Convinced Of The Benefits? Vivina Berla European Managing Director & Senior Partner SARONA ASSET MANAGEMENT
Vivina Berla has eighteen years experience in the institutional investment management world including as a Managing Director at Merrill Lynch Investment Managers and Gartmore. Vivina has been directly involved with private equity funds of funds business as a GP and LP and has extensive experience of Emerging Markets having lived, worked and travelled through Latin America, Asia and Africa since the late 70s.
What a great conference....It was a big privilege and enormous pleasure to participate. Having worked in Emerging Markets for most of my life, I commend SuperReturns for bringing together such knowledgeable investors to focus on such relevant issues in a variety of thought-provoking formats.
Patricia Dinneen, Managing Director, SIGULER GUFF & COMPANY
16.20
17.00
End of Summit
DAY 1
TUESDAY 26TH JUNE 2012
08.15 Coffee & Registration 08.30
MAIN CONFERENCE
partnership agreements with general partners and outside fund managers. Prior to joining the Private Markets Group of TRS in 2006, Courtney worked at Tejas Securities Group in Austin, Texas, where she focused on high yield bonds and corporate M&A, and the finance/lending group of Texas Department of Economic Development in the Office of the Governor.
10.30
TURKEY
Will The Returns From Private Equity In Turkey Live Up To Expectations? How Will Turkish Private Equity Absorb The Amount Of Capital Currently Being Allocated & Where Will The New Deals Come From? Moderator: Daniel Morgan, Director, ADVENT INTERNATIONAL
Daniel Morgan joined Advent International in January 2008 and is head of the firms Istanbul office. He has over 14 years of private equity experience. Prior to Advent, he worked for two years as a Director of Kaupthing Banks Principal Investment team within the banks specialist private equity division. Before Kaupthing, he spent nine years with 3i in London and Stockholm in venture capital, growth and buyout positions.
INSTITUTIONAL LP PERSPECTIVES
How Are Large Institutions Responding To Sluggish Growth In The Global Economy? What Impact Will This Have On Allocations To Emerging Market Private Equity? Dirk Meuleman, Fund Manager, Private Equity & Infrastructure, MN SERVICES
Dirk Meuleman is Fund Manager Private Equity & Infrastructure at Mn Services where he focuses on making private equity and infrastructure fund investments in Europe and emerging markets, portfolio construction and monitoring of private equity & infrastructure funds. Mn Services is an independent fiduciary manager that manages assets on behalf of pension funds and multi nationals. Mn Services is based in The Netherlands and the UK.
KEYNOTE ADDRESS
Hisham El-Khazindar, Managing Director & CoFounder, CITADEL CAPITAL
Prior to co-founding Citadel Capital, Mr. El-Khazindar was Executive Director of Investment Banking at EFG Hermes, where he advised on key transactions, and where he started his career in 1996. In 1999-2000, he was on secondment to Goldman Sachs in London, advising firms on strategic options and M&A transactions. Mr. El-Khazindar sits on the boards of leading companies including ASEC Holding and El Sewedy Cables. He was Chairman of the Capital Markets and Investment Committee at the American Chamber of Commerce in Egypt, was a member of US-Egyptian Business Council.
09.45
Nevena is an Investment Manager at IDEA Capital, where she is responsible for investments in a variety of private equity funds globally. Prior to IDEA, Nevena was a Senior Associate at Coller Capital in London, where she worked on the origination and execution of secondary investments. Previously, Nevena was with Campbell Lutyens in London and Morgan Stanley Investment Banking in New York.
Seluk Yorganciolu, Executive Director & Turkey Country Head, ABRAAJ CAPITAL
Seluk started his career at Interbank in Turkey as a management trainee in 1992. Between 92 and 98 he worked for ABN AMRO Group out of Amsterdam and London as part of the Emerging Markets Investment Banking Group. His last job there was with Equity Capital Markets JV, ABN AMRO-Rothschild in London. Throughout this period, Seluk focused on Emerging Europe, worked on transactions and built connections in Turkey, Russia, Kazakhstan, Poland, Czech Republic, Hungary, Poland and Romania.
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
DAY 1
11.30 12.45
MAIN CONFERENCE
Vincent Chan, CEO, SPRING CAPITAL
Vincent is the CEO of Spring Capital, an independent US$250m private equity firm focusing on early growth lower mid-market in China. Prior to Spring Capital, he worked as the Managing Director and Head of China of JAFCO Asia from 2000 - 2007. In 2011, Vincent was named to the Forbes China Midas List for the Sixth time. He is currently the co-President of the Hong Kong Venture Capital and Private Equity Association (past Chairman, 05/06) and the Fifth Year at the Listing Committee of the HKEX.
16.50
INDONESIA
Benefitting From The Natural Resources Boom In Indonesia: What Is The Optimum Way To Access Investible Assets & How Is The Local Private Equity Community Evolving To Manage Institutional Capital? Patrick Walujo, Co-Founder & Co-Managing Director, NORTHSTAR PACIFIC
Patrick Walujo is co-founder and co-managing director of Northstar Equity Partners, a leading private equity fund with primary focus on Indonesia. Northstar is the Indonesian Partner of Texas Pacific Group, one of the worlds leading private equity funds. Before co-founding Northstar, Mr. Walujo was Senior Vice President of Pacific Century Group in Tokyo, Japan. Prior to working at Pacific Century Group Japan, he was an associate at the investment banking division of Goldman, Sachs & Co., in London and New York.
STREAM A: ASIA
Chair:
Country Specific: Yibing Wu, President, CITIC PRIVATE EQUITY FUNDS MANAGEMENT
Prior to joining CITIC PE, Dr. Wu worked as Managing Director of Legend Holdings, responsible for overall business operations and oversaw its direct investment business. During his tenure at Legend Holdings, he successfully led the equity investments in financial, energy and consumer sectors as well as a number of growth capital investments in new energy and hightech arena. Prior to that, Dr. Wu spent 3 years full time leading the entire process of IBM PCD acquisition, serving as Chief Strategy Officer, Chief Integration Officer, Chief Transformation Officer / Chief Information Officer of Lenovo Group.
Dr. Martin Haemmigs venture capital research covers 13 countries in Asia, Europe, Israel, and USA. He lectures and/or researches at Stanford University, UC Berkeley, INSEAD, UniBW Munich, ETH Zurich, as well as at Chinas Peking, Tsinghua, Renmin, Fudan and JiaoTong University, plus Indias Institute of Technology, Science and Management in Delhi, Mumbai, Bangalore and Hyderabad. He is author for books on the Globalization of Venture Capital (English & Chinese). He is a former Senior Advisor on Venture Capital at Stanford University - SPRIE and was the advisor on venture capital & internationalization for Chinas largest science park (Zhongguancun).
17.20 18.20
14.30 11.35
What Do The High Growth Numbers Coming Out Of Africa Actually Mean? How Do These Break Down In Terms Of Jurisdictions & Investible Opportunities? Razia Khan, Head of Research Africa, STANDARD CHARTERED BANK
Razia currently works both in the African Regional Office, advising the Executive Committee on matters relating to Africa, and at the Wholesale Bank, where she provides in-depth analysis on African economies to the Bank's clients. Standard Chartered Bank provides regular monthly and adhoc theme-based publications on African economies and markets, and has received recognition for providing the best research on Africa. In 2006 and 2007, the Bank won Banker Magazines 'Best Bank in Africa' award. During her time with Standard Chartered Bank, Razia has been acknowledged as the leading analyst on African economies.
15.00
INDIA WORKSHOP
NEW DATA INDIAN PRIVATE EQUITY
15.00 - 15.30
ESG: Frederic Sicre, Partner, ABRAAJ CAPITAL South East Asia: Speaker tbc Middle East: Robert Wages, Head of Private Equity, NATIONAL HOLDING Cleantech: Martin Haemmig, Adj. Professor, CETIM Latin America: Ralph Keitel, Principal Investment Officer, IFC
18.00 19.30
Where Are Returns Being Generated In Indian Private Equity? New Research From The Cutting Edge Kunal Srivastava, Research Director, VCCEDGE
VCCircle.com, founded in 2005, is the leading source of independent news, information and data for the investment ecosystem. VCCircle is relied upon by an influential global community of deal makers and entrepreneurs for trusted news and incisive analysis related to Indian investments, M&A, venture capital, private equity, investment banking, public equity, and innovative business models. VCCircle.com has 2 million page views and 200,000 unique visitors a month with 25,000 daily newsletter subscribers. The readership comprises of CXO level professionals and entrepreneurs such as CEOs, directors, corporate development and strategy heads, M&A heads, corporate finance departments, fund managers, investment bankers, financial advisers, and policy makers.
11.55 12.25
SUB-SAHARAN AFRICA
How Can LPs Get Comfortable With Investing In African Private Equity? What Are The Options For LPs Wanting To Access The Growth Story Across This Diverse & Fragmented Continent? Dushy Sivanithy, Principal, PANTHEON
Dushy focuses on the evaluation, selection and monitoring of European investment opportunities and is a member of the European Investment Committee. Dushy has specific responsibility for German and Central and Eastern European Primary Funds. Dushy also focuses on venture and cleantech funds in Europe. Prior to joining Pantheon, Dushy worked for Hermes Private Equity as an analyst working on both fund and direct investments. Previously, he worked for Morgan Stanley as a research analyst in the investment banking division, primarily involved in the telecoms and media sectors.
15.30 16.00
INDIAN GPs
Examining How Indian GPs Discipline & Strategy Has Evolved In The Context Of High Valuations, Overcrowding & Lack Of Exit Opportunities Shashank Singh, Partner & Co-head India, APAX PARTNERS
Shashank Singh is a Partner in the Tech & Telecom team and co-heads the India office. Shashank joined Apax Partners in 2004 in London and opened the India office in 2007. Shashank has been involved with a number of key deals including iGATE Patni, TIM Hellas, Weather Investments, TDC, Bezeq and Synetrix. Previously, Shashank was a strategy consultant with Monitor Company, specialised in in the telecoms and technology sectors.
CEE
How Is The Euro Crisis Impacting Investment In Central & Eastern Europe? Will These Economies Emerge Relatively Stronger Once The Dust Has Settled? How Is The Nature Of Deal Flow Changing & What Are The Best Methods Of Exploiting Attractive Valuations? Anne Fossemalle, Director Equity Funds, EUROPEAN BANK FOR RECONSTRUCTION & DEVELOPMENT
Anne Fossemalle has been the Director in charge of Equity Funds at the European Bank for Reconstruction and Development since 2009. Previously, she was the Director, Bank Equity, responsible for EBRDs direct investments in banks. Prior to this appointment, she was a Senior Banker in the Financial Institutions group, where she led various debt and equity transactions with banks, and was responsible for EBRDs relationship with international banking groups.
Davinder Sikand, Regional Managing Partner & Executive Director & Deputy CEO, AUREOS ADVISORS
Dr. Leonard is the CEO and co-founder of Global Environment Fund. Since 1990, GEF has provided growth capital to high-growth, emerging businesses whose products and services provide cost-effective solutions to environmental and energy challenges. With approximately $1.2 billion in assets under management, GEF holds investments and maintains regional offices in key rapidly growing countries including: Brazil, China, India, and South Africa. In Africa, GEF manages timberland-related assets in five countries. Dr. Leonard also serves as Chairman of Emerging Markets Private Equity Association.
16.00 16.20
Afternoon Tea
DEALS IN CHINA
Do Enough Attractive Deals Exist & How Does Private Equity Compete With Other Sources Of Finance To Access The Best Deals? Edmond Ng, Managing Director, AXIOM ASIA PRIVATE CAPITAL
Edmond Ng is a founder and Managing Partner of Axiom Asia Private Capital, an Asia focused private equity fund of funds management firm with $1.4 billion under management. Prior to setting up Axiom Asia, Edmond was a director at Kennen Investment Holdings; a boutique advisory firm with a focus on sourcing private equity and real estate investment opportunities for international investors, and Y Beauty, a Hong Kong based beauty company. Edmond was Vice President in GIC Special Investments (GIC SI), the private equity arm of the Government of Singapore Investment Corporation (GIC).
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
DAYS 1&2
15.00
MAIN CONFERENCE
18.00 19.30 16.50
17.20 18.20
Mark OHare is Founder and Chief Executive of Preqin, the alternative assets information service. Before Preqin, Marks initial career was as a Manager with Boston Consulting Group, where he advised clients in Europe, the US and Africa, across several industries including financial services, healthcare, retail, industrial and consumer products
14.30
18.00 19.30
INFRASTRUCTURE
How Are Private Equity Investors Capitalising On The Urgent Need For Infrastructure Across Many Emerging Markets? How Do Managers Overcome The Inherent Risks Of Nationalisation, Illiquidity & Long Term Investing? Gad Cohen, Partner, ELEQTRA
Gad Cohen is a Partner of eleQtra Ltd, the manager of InfraCo Africa and the InfraCo SubSaharan Infrastructure Fund (ISSIF). Gad Cohen has over 18 years of professional experience in the development and financing of infrastructure projects in the power and transportation sectors. Prior to co-founding the eleQtra Group, Mr. Cohen held a series of senior positions at ABB Equity Ventures, the development and equity investment arm of ABB Ltd., including as Head of the Global Power Group where he was responsible for the development and investments in power generation projects worldwide.
Timothy Krause, Head of Russian Bank Opportunity Fund, IFC GLOBAL FINANCIAL MARKETS
Tim has 20 years of experience investing in emerging markets, and specializes in financial sector investments. Currently, Tim manages IFC's financial sector investment portfolio in Central and Eastern Europe, which is approximately US$2 billion. In the 12 months ending June 30, 2011, Tim's team committed $1.4 billion in new equity, quasi-equity and debt investments in the region.
15.30
Oliver Andrews, Director and Chief Coverage Officer, AFRICA FINANCE CORPORATION
Oliver Andrews is AFC's Director and Chief Coverage Officer. In this capacity, he leads both the corporation's infrastructure project development and technical advisory activities. Oliver is former CEO of London-based TCI Infrastructure Limited. He has a background in engineering, transport, power and project finance, with over 30 years experience in the transport sector and 20 years as an infrastructure project developer and strategic adviser
POLAND
How Are Polish Private Equity Firms Generating The Best Returns In The Region & How Will They Sustain Long Term Growth? How Do LPs See Poland As An Investment Destination? Krzysztof Kulig, Partner, INNOVA CAPITAL
Krzysztof Kulig has been with Innova Capital for 11 years. He is responsible for developing investments in financial services and B2B services across the region. He has been responsible for Innovas two main transactions in financial services, namely: PolCard S.A. and Dom Finansowy QS. Mr. Kulig is also in charge of talent recruitment, having joined Innova from Heidrick & Struggles where he was a principal consultant and head of the e-business and professional services operations. Prior to that, Mr. Kulig worked for five years at Euronet Services, where he was the Managing Director and Vice-President of the Polish subsidiary.
Ben Way, Senior Managing Director, MACQUARIE INFRASTRUCTURE & REAL ASSETS
Ben Way is a Senior Managing Director of the Macquarie Group (Macquarie) who has been based in Asia for over 10 years. Mr Way leads Macquaries unlisted infrastructure and real asset fund activities in Asia which includes managing US$4bn of equity under management deployed in assets across Taiwan, China, Korea, Japan and the USA.
Chairs Opening & Welcome George Siguler, Managing Director & Co-Founder, SIGULER GUFF
George is founding principal of Siguler Guff & Company which has over $7 billion assets under management. He is also a founding partner of Russia Partners, L.P. In 1991, Mr Siguler became head of PaineWebbers private equity group, where he spearheaded the formation of Russia Partners and several domestic private equity funds until Siguler Guff became independent in 1995. Mr Siguler was a founding partner of Harvard Management Company in the early 1970s and initiated and managed its private equity programme.
15.30
08.40
AGRIBUSINESS
What Are The Current Opportunities In The Agribusiness Value Chain & How Does Investing Vary Between Regions? What Do LPs Need To Understand Before Investing? Jeff Leonard, Founder & CEO GLOBAL ENVIRONMENT FUND
As well as the Global Environment Fund, Dr. Leonard is also Managing Partner of the GEF U.S. Growth strategy and Chairman of the investment committee of all GEF funds. In addition to his abiding commitment to GEF, Dr. Leonard is the Chairman of the Board of Directors of the Emerging Markets Private Equity Association (EMPEA) and has previously served as CoChairman of the Clean Technology Venture Network (now the Cleantech Group). He serves also on the boards the National Council for Science and the Environment (NCSE) and the New America Foundation.
CO-INVESTMENTS
Are Co-Investments The Best Way To Boost Returns & Access The Best Deals? What Are The Benefits To LPs In Terms Of Control, Alignment Of Interest & Reduction In Fees? What Are the Potential Pitfalls For LPs & GPs? Claudio Siniscalco, Principal, HARBOURVEST PARTNERS
Claudio Siniscalco joined HarbourVests London-based subsidiary in early 2007 and focuses on originating, evaluating, and executing direct investments in growth equity and buyout transactions in the EMEA region. He is also involved in originating European mezzanine and senior loan investments. Claudio serves as a board member of Panda Security, Polynt, and TynTec and has been involved with several of the firms other direct investments, including Acromas, Nordax, Skylark, SuperMax, Takko, and World-Check.
16.50
DISTRESSED IN ASIA
How Are Firms Taking Advantage Of The New Distressed Opportunities In China & Emerging Asia? Robert Petty Managing Partner CLEARWATER CAPITAL PARTNERS
Rob Petty is Managing Partner and Co-Founder of Clearwater Capital Partners, and a member of the firm's Investment Committee. Turnarounds and restructurings in Asia has been the focus of Mr. Pettys nearly 30-year. His previous experience encompasses roles at Amroc Investments LLC, Peregrine Fixed Income Ltd, and Lehman Brothers Holdings, Inc. Mr. Petty serves on the boards of four Clearwater portfolio companies and two non-profit organizations.
Paul Van Houtte, Head of International Equity & Funds, CASSA DEPOSITI E PRESTITI
Paul Van Houtte initially worked for a VC fund targeting European growth companies after which he joined European Investment Fund focusing on primary fund investments in the VC and Buy Out area across Europe. After having launched the secondary investment area for EIF as Head of Secondary Investments, he later guided private equity investments in the MENA region for the European Investment Bank. Currently Paul is Head of International Equity and Funds for Cassa Depositi e Prestiti.
Alexandre Motte, Managing Director & Head of Co-Investment, AXA PRIVATE EQUITY
Alexandre Motte started his career as an M&A analyst with BNP in New York. He then worked for eight years with The Boston Consulting Group, where he was a Principal, focusing on healthcare and consumer goods. He joined AXA Private Equity Co-Investment team in 2007, and is heading the Co-Investment activity since 2010.
09.10
KEYNOTE ADDRESS
Alexander Abolmasov, Managing Partner, NEW RUSSIA GROWTH
Mr. Abolmasov is a Managing Partner of NRG, Russia-based private equity investment management firm. Prior to joining NRG, Alexander was a Corporate Finance Director of Arbat Capital, an investment company with over US$ 700 mn under management. Before that, Alexander worked for Zindel Investment Partners as a director responsible for deal origination, execution and portfolio company development. Earlier he worked for an investment banking boutique, where he managed M&A transactions in Oil & Gas, Utilities, Retail, Forestry and other sectors with total deal value over $500m. Alexander also ran a successful leasing company as an executive director.
17.20 18.20
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
DAY 2
09.35
MAIN CONFERENCE
12.05 12.35
INDIA
To What Extent Has India Disappointed? What Returns Do LPs Want To See & What Will Trigger The Required Level Of Exits? Anubha Shrivastava, Managing Director Asia, CDC GROUP
Anubha Shrivastava is a Managing Director at CDC Group plc, a fund of funds business owned by the British Government that invests in the developing economies of Africa, Asia and Latin America. She is responsible for the Asian investment portfolio spanning across South and South-East Asia and China. Anubha Shrivastava commenced her private equity career in 1999 with General Motors Asset Managements Private Equity Group in New York, USA. She was involved in the global private equity fund-of-funds portfolio as well as the global co-investment programme.
15.50
SUB-SAHARAN AFRICA
How Are Private Equity Firms Tapping Into The Domestic Consumer & Natural Resources Sectors In Africa? How Are They Surpassing The Challenges Presented By Political Volatility, Goverance & Competition From Other Capital Sources? Line Picard, Chief Investment Officer, Private Sector Operations and Microfinance, AFRICAN DEVELOPMENT BANK
After having worked for more than 15 years in the private sector in Canada and in Latin America in financial institutions and asset management, Ms Picard joined the African Development Bank in 2008 where she has been involved in the origination and supervision of Private Equity Funds on the African continent.
12.35
Interviewd by:
THE WELLCOME TRUST & Paul Van Houtte, Head of International Equity & Funds, CASSA DEPOSITI E PRESTITI Plus! VIP Hosted Lunch table With: Pedro Simko, Chairman & Client Director EMEA, SAATCHI & SAATCHI SWITZERLAND
14.30 14.50
LATIN AMERICA
What Is The Best Strategy For Accessing Latin America? To What Extent Are Smaller Managers Challenging The Dominance Of The Largest Funds & Are LPs Ready To Invest On A Country Specific Level? Ralph Keitel, Principal Investment Officer, IFC
Since joining IFC in early 2006, Ralph has been responsible as regional lead for IFCs private equity fund activities in Eastern Europe/Russia (2006-2008), Africa (2008-2011) and, since 2011, Latin Ameria. Prior to joining IFC, Ralph was with Caisse de Dpt et Placement de Qubec (CDP) in Montral, where he was responsible for a portfolio of venture capital funds in North America and Europe.
BRAZIL
Dealing With The Specific Challenges Of Investing Into Brazilian Private Equity: Managing In An Overheating Economy, Dealing With Macroeconomic Challenges & Balancing Local & Foreign LP Expectations Juan Pablo Zucchini, Managing Director, ADVENT INTERNATIONAL
Juan Pablo Zucchini joined Advent International in 1996 and has 12 years of private equity experience in Latin America. From 2001 to 2003, he worked as a Director in Advents So Paulo office focusing on investments in the business services industry. From 2003 through 2007, he worked in Buenos Aires and is now located in So Paulo. Prior to Advent, Juan Pablo spent three years with Perez Companc Group, where he worked on several major Argentine privatisation projects, concentrating on the oil and gas and energy industries.
STREAM A: AFRICA
14.50
ESG
To What Extent Is Environmental & Social Governance A Priority For Commercial LPs? What Will Be The Impact Of New Measures On Emerging Market Fund Managers? Ritu Kumar, Senior Advisor ESG, ACTIS
Ritu joined Actis in 2006 as a member of the ESG team in London, and has over 20 years of experience working with industry on environmental and social issues. Ritu has worked with the United Nations Industrial Development Organisation and established the European affiliate of a leading Indian organisation, The Energy and Resources Institute (Europe), in 2000.
11.45
15.20
What Does New Leadership, Slowing Growth, Social Change & Changing Capital Flows Mean For China In The Next Decade? Peter Cornelius, Chief Economist, ALPINVEST PARTNERS
Peter Cornelius heads AlpInvest Partners economic and strategic research, one of the worlds largest private equity investors. Prior to his current position, he was the Group Chief Economist of Royal Dutch Shell, chief economist and Director of the World Economic Forums Global Competitiveness Programme, Head of International Economic Research of Deutsche Bank, a senior economist with the International Monetary Fund, and a staff economist of the German Council of Economic Advisors. A German national, Peter Cornelius is the chairman of the European Venture Capital and Private Equity Associations working group on developing private equity risk measurement guidelines.
NORTH AFRICA
Where Next For North Africa? How Have GPs Managed Their Investments Through Recent Turmoil, & How Can Managers In Other Regions Ensure They Are Prepared For The Unexpected? Hear Lessons Learned & Share Best Practice Ziad Oueslati, Founding Partner, TUNINVEST - AFRICINVEST
Mr. Oueslati is currently the MD and co-founding Partner of TunInvest - AfricInvest the first private equity fund management company in the Maghreb and one of the leading players in Sub-Saharan Africa. Mr. Oueslati participated in the structuring and raising of several investment funds targeting the Maghreb and Sub-Saharan Africa totaling about US$ 800 million. He is a board member of several North African and sub-Saharan companies. Mr. Oueslati has structured over 50 investments in Africa in several industrial and service sectors. He has also conducted on behalf of European financial institutions financial and strategic advisory work in the African continent.
Maaike van der Schoot, Corporate Social Responsibility Officer, ALPINVEST PARTNERS
Maaike is AlpInvest Partner's Corporate Social Responsibility (CSR) Officer and responsible for the development and implementation of the CSR policy. AlpInvest Partners is a leading global private equity asset manager with assets under management of more than 31bn. Maaike joined AlpInvest Partners in 2002. Prior to her current role, she was an investment manager in the Co-Investment team and before she was an investment banking analyst at Morgan Stanley in London.
10
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
DAYS 2&3
17.45 18.30
MAIN CONFERENCE
THURSDAY 28TH JUNE 2012
08.30 Coffee & Registration 09.00 12.00
New Data: Examining The Most Effective Strategies Across Emerging Markets Daniel Schmidt, Founder & CEO, CEPRES
09:10
How Are European LPs Allocations To Emerging Markets Private Equity Changing? How Do They View Emerging Markets Within Their Wider Portfolio? Moderator: Janusz Heath, Managing Director, CAPITAL DYNAMICS
Janusz is a Managing Director in the Investment Management team at Capital Dynamics and has over 26 years of private equity experience. Janusz has a leading role in developing the firms emerging markets expertise and during his tenure as head of Asset Management; he was instrumental in building the Asset Management team at a time of substantial growth for the firm. Prior to joining Capital Dynamics, he was head of Central & Eastern European private equity at Allianz Specialised Investments (formerly Dresdner Kleinwort Capital), having previously been deputy chairman and managing director of PTP-Kleinwort Benson.
Dr. Daniel Schmidt is the founder and CEO at CEPRES, the investment decision platform. CEPRES provides its exclusive members of GPs, LPs and Intermediaries the deepest online data and tools for supporting private equity investing including risk and return analysis and comparative research. With detailed data on more than 30,000 private equity backed companies and the broadest network of participants, CEPRES is able to connect large parts of the global private equity community and deliver specialist access for emerging markets, infrastructure, mezzanine and other key sectors.
12.20 12.40
Sonny Wu focuses on investments in the semiconductors, new materials, and new energy sectors. He has made extensive investments related to LED technology, and is an active board member for LatticePower, ShineOn, and Times Energy. Sonny is currently on the boards of Panovel, PowerLayer, Quanray Electronics, Sigma Resources, and SMiT. Prior to GSR, Sonny held key executive positions at Nortel Networks and led the investment in Shanghai ASMC (HKEX: 3355) in 1994. He served as Managing Director for Shanghai Nortel Semiconductors Corp. and Guangdong Nortel Telecom Corp. in 1995.
Panel Discussion: Comparing Investment Strategies In Emerging Markets Sonny Wu, Managing Director, GSR VENTURES
15.20 16.20
Andrew joined ECP in May 2011 from Amundi Private Equity Funds where he was the Chief Investment Officer of the Kantara Fund, a 150m buy out and expansion capital fund investing in North Africa. Prior to Amundi, Andrew worked for Actis as country manager for Egypt. During this time he was responsible for successful investments in Celtel, the pan-African mobile phone operator and Orascom Telecom Algeria, and was also involved in the first management buy-out in Egypt and acquisition of the Sidi Krir Independent Power plant in Egypt by Globeleq.
1) Pool Of Talent
How Do You Find, Retain & Incentivise Managers? What Are The Main Barriers To Successful Recruitment? Led By: Idsert Boersma, Manager Private Equity, FMO
See bio on page 10
09.50
2) Currency
Exploring How Fund Managers Mitigate Currency Risk Using Global Diversification, Hedging & Local Currencies
KEYNOTE ADDRESS
David Bonderman, Founding Partner, TPG
TPG and its affiliates have approximately $48 billion of capital under management. Portfolio companies controlled by TPG have combined revenues of over $85 billion, operate in more than 130 countries and employ approximately 600,000 people. Among the portfolio companies of TPG are: PETCO; IMS Health; Avaya; Harrahs Entertainment, Energy Future Holdings (TXU); Neiman Marcus; SunGard and Univision. Prior to forming TPG in 1992, Mr. Bonderman was Chief Operating Officer of the Robert M. Bass Group, Inc. (now doing business as Keystone Group, L.P.) in Fort Worth, Texas.
What Are Good Investor Relations? LPs Give A Truthful Account Of Common Mistakes & Discuss The Dos & Donts Of Investor Relations Moderator: Simon Thornton, CEO, PEARONLINE
See bio above
SL Capital Partners is a private equity fund of funds manager, with operations in both Europe and North America, that is focused on investing in buy-out funds, both primaries and secondaries, and co-investments. SL Capital Partners currently manages around 6.5 billion of private equity money on behalf of around 160 clients worldwide.
10.15
14.30
Speaker tbc
16.20 Afternoon Tea
16.45
LP SIMULATOR GAME
Understanding What LPs Think About Each Emerging Market Today
New for SuperReturn Emerging Markets, we are pleased to introduce the LP Simulator Game. Attendees will get to choose from a selection of anonymous real emerging market case-study funds, and make investment decisions in groups over champagne. Then LPs provide their feedback on how they approach fundraising problems today. Led By: Simon
14.45 16.00
Panel Discussion: In A Tough Fundraising Market, What Are LPs Looking For When Investing With A Manager & How Should GPs Hone Their Fundraising Strategy Accordingly? Patricia Dinneen, Managing Director, SIGULER GUFF
See bio on page 6
Simon founded PEARonline in 2005 to provide private equity GPs and placement agents with a solution to web-based communication with LPs for fundraising and fund reporting. From 1999 to 2004, Simon headed Landmark Partners European operations, and was responsible for investor relations and fundraising in Europe and the Middle East as well as sourcing European acquisition opportunities.
REAL ASSETS
Are Real Assets The Best Hedge Against Inflation? What Is The Optimum Way Of Accessing The Asset Class? Moderator: Berry Polmann, Executive Director, ADVEQ MANAGEMENT
Berry Polmann leads Adveq's global real assets initiative. In addition, he is responsible for Adveq's client relations in the Netherlands and the UK. Prior to joining Adveq in 2007, Berry worked as a manager at PricewaterhouseCoopers where he served Switzerland based private equity funds, hedge funds, and real estate funds with audit, fund structuring, and tax related services. He was also a member of PricewaterhouseCoopers' European team for pan-European asset pooling for pension funds.
Panel discussion will then break up into round table discussions led by the panellists
15.10 16.00
17.45 18.30
As Senior Manager Alternatives, Harry is, among other things, responsible for optimising internal processes, manager selection and monitoring asset managers concerning alternatives. Achmea is a large European insurance company based in the Netherlands with operations across Europe. Currently Achmeas alternative portfolio consists of more than 60 direct, fund and fund of funds investments in commodities, hedge funds, infrastructure, micro finance and private equity. Prior to Achmea, Harry was with F. Van Lanschot Bankiers N.V. for more than three years, where he managed and advised on investment portfolios of private clients.
Roundtable Discussions Patricia Dinneen, Managing Director, SIGULER GUFF Peter McKellar, Partner & CIO, SL CAPITAL PARTNERS Rania Gohar, Investment Officer, IFC Thomas Clausen, Managing Partner & Co-Founder, CAPVENT Julien Kinic, Managing Director, IDI EMERGING MARKETS Ivan Vercoutere, Partner, LGT CAPITAL PARTNERS Hans Van Swaay, Partner, LYRIQUE Erik Kaas, Partner, PARTNERS GROUP Gerhard Bauer, Investment Director, ALLIANZ CAPITAL PARTNERS Berry Polmann, Executive Director, ADVEQ MANAGEMENT Michael Flood, Managing Director, NORTHLEAF CAPITAL PARTNERS Harry van den Heuvel, Senior Investment Manager Alternatives, ACHMEA
16.00 End of Conference
For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
11
Pedro Simko, Member of the Worldwide Executive Board, SAATCHI & SAATCHI
Examining The Evolving Relationship Between Geopolitical & Macroeconomic Instability: How Will The World Change Over The Next 5 10 Years & What Does This Mean For Emerging & Converging Markets?
John Micklethwait is one of the worlds foremost authorities on globalisationhow it works and where its headedand a leading proponent of its positive impact and potential. He is the co-author/co-editor of two books on globalisation: A Future Perfect: The Challenge and Promise of Globalization and Globalisation: Making sense of an integrating world. His book, The Company: A Short History of a Revolutionary Idea, was named one of the ten best books of 2003 by BusinessWeek. Mr Micklethwait is also an expert on American business and culture, and on American politics and American foreign and defence policy. He was head of the magazines U.S. section from 1999 to 2006. He is the co-author, with Adrian Wooldridge, of The Right Nation: Conservative Power in America and bestseller The Witch Doctors. His forthcoming book, Masters of Management: How The Business Gurus and Their Ideas Have Changed The WorldFor Better and For Worse is a revised and expanded edition of The Witch Doctors. Mr Micklethwait is currently editor-in-chief of The Econonmist, the worlds leading business and current affairs weekly. He is a winner of the Wincott Award, Britains leading prize for financial journalism and was named Editors Editor of the Year at the British Society of Magazine Editors 2010 annual awards. He has appeared on television and radio throughout the world and written op-ed articles for the worlds premier print news journals.
THE IMPORTANCE OF TRACK RECORD: NEW DATA Analysing A GPs Track Record: How Relevant Is A GPs Success In Developed Markets When Looking To Invest In Emerging Markets For The First Time? Can Success In These Different Markets Be Compared?
Olivers current research focuses on the strategic logic and the performance determinants of private equity investments. A second stream of work looks at the implications of employee motivation for firm performance in different settings. In parallel to his faculty position at HEC, he is affiliated with INSEAD as a visiting researcher and the coordinator of the HEC Buyout Research program. His work has been published in leading academic journals and in various publications for practitioners. He regularly presents his research at academic conferences and private equity symposia and serves as an advisor to leading investors in the private equity industry. At HEC, he teaches a core course on business strategy and offers an elective on Management Buyouts.
How Does Transparency International Measure Corruption & Analyse The Effect It Has On Businesses In Emerging Markets? What Can Be Done To Mitigate The Challenge Of Corruption?
Deborah is responsible for three of Transparency Internationals (TI) quantitative global corruption measurement tools which use different methodologies to measure various aspects of bribery and corruption around the world. Prior to working at Transparency International, Deborah was an Economic Planner in the Ministry of Finance in Lesotho, and spent three years as a commercial analyst with BP. Deborah has an MA in Economics from the University of British Columbia.
"This conference was the best I have attended in a while. Very well represented, with discussion panels and presentations lively, to the point and relevant in the current market environment." Sean Glodek, Director, DARBY PRIVATE EQUITY
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For latest programme and to register: www.superreturnemergingmarkets.com Tel: +44 (0) 20 7017 7200 Fax: +44 (0) 20 7017 7807 Email: info@icbi.co.uk
0 By & 70 ok ril Bo h Ap to t 20 Up ve Sa
Free For Foundations, Endowments, Pension Funds, ILPA Members & SWFs
Email: lgriffin@icbi.co.uk to apply
4th Annual
Conference organised by
ICBI
www.superreturnemergingmarkets.com
Investor Summit: Monday 25th June 2012 Main Conference: Tuesday 26th Thursday 28th June 2012 InterContinental Hotel, Geneva
120+
Private Equity, Growth Capital & Venture Capital In Converging, Emerging & Frontier Economies
A Forum For LPs To Compare & Contrast Investment Opportunities Across Regions
Brookfield Asset Management Inc. (NYSE: BAM / TSX: BAM.A / Euronext: BAMA) is one of the worlds leading alternative asset managers offering investment strategies in real estate, infrastructure, power and private equity to institutional investors. The firm currently has approximately $150 billion of assets under management and over 500 investment professionals and 18,000 operating employees in over 100 offices and operating locations around the world. Brookfield was founded in 1899 when Brazilians and Canadians joined together to form Sao Paulo Tramway, Light and Power and currently has R$23 billion in assets under management in Brazil.
ENS is Africas largest law firm, with over 400 legal, forensic, tax and IP practitioners. The firm was established over 100 years ago and currently operates out of its Johannesburg, Cape Town, Durban and Stellenbosch offices. The firm was recently recognised as one of the fastest growing companies in the world and was voted Legal Adviser of the Year for Sub Saharan Africa, International Law Firm of the Year and Middle East & African Law Firm of the Year 2010. ENS was also rated the Most Trusted Law Firm and Client Care Law Firm of the Year in Africa. ENS is proud to be a level 3 BBBEE contributor.
Actis is the only pan-emerging market private equity firm.With a growing portfolio of investments in Asia, Africa and Latin America; we currently have US$4.5bn funds under management. Our work at Actis is driven by the conviction that we bring more than capital to our investments; we bring benefits to our investee companies, investors and broader society. We call this ethos the positive power of capital. Combining the expertise of over 100 investment professionals on the ground in nine countries, we are proud to actively and positively grow the value of those companies in which we invest.
Citadel Capital (CCAP.CA on the Egyptian Stock Exchange) is the leading private equity firm in the Middle East and Africa. Citadel Capital focuses on building regional platforms in select industries through acquisitions, turnarounds, and greenfields executed via Opportunity-Specific Funds. The firm's 19 OSFs now control Platform Companies with investments worth more than US$ 9.0 billion in 15 countries spanning 15 industries, including mining, cement, transportation, food and energy. Since 2004, Citadel Capital has generated more than US$ 2.2 billion in cash returns to its co-investors and shareholders (on
NRG is a leading independent alternative investment manager with a focus on Russia & CIS: The private equity fund Volga River One focuses on providing growth capital to mid-market companies and has made six portfolio investments to date (telecoms, retail, food production). Size - $177m, first closing - 2006; number of LPs 20. The mezzanine focused fund, Volga River Growth focuses on providing growth capital. Target size $250m, first closing $135m in 1Q2011 with EBRD as a lead investor.
Associate Sponsors
Clearwater Capital Partners, LLC (Clearwater or the Firm") is an investment firm founded in December 2001 to invest in special situations and distressed or otherwise undervalued assets and securities located in Asia, excluding Japan (the Asia Region). Clearwaters investment strategy is to leverage its distinct advantages in due diligence and execution capabilities across local currencies, languages and jurisdictions to build a diversified, cash generative and non-correlating portfolio of investments in the Asia Region. Clearwater combines the disciplines of private equity and credit investing to capitalize on what the Firm perceives to be a historic opportunity for special situations investing in the Asia Region. Clearwaters investment portfolios are diversified across various economies that comprise the Asia region and over 25 industries. Clearwater has more than 75 professionals across its six primary offices, located in New York, Singapore, Hong Kong, Mumbai, Seoul and Beijing. The Firm manages approximately $1.7 billion and has completed approximately 250 investments.
OMelveny & Myers LLP is a leading global law firm with over 800 lawyers in 15 offices across Asia, Europe and the US OMelveny has one of the largest private equity practices in the world with a prominent emerging markets practice acting for some of the largest funds raised for emerging markets Named Asia Fund Formation Law Firm of the Year (for last two years) and one of Europe's top three Fund Formation Law Firms, by Private Equity International's readers; China VC/PE Foreign Fund Raising Legal Advisor of the Year by Zero2IPO Research Center (for last two years) Clients include The African Development Bank, CDC Group plc, CLSA, Crescent Capital, Development Partners International, the Government of Singapore Investment Corporation, IDG Capital Partners, KV Asia Capital, Lok Foundation, Primavera Capital Group, Shenzhen Fortune Venture Capital and Turk Venture Partners www.omm.com
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I can comfortably say it was the best event I attended this year
Selcuk Yorgancioglu, Senior Partner Abraaj Capital
DATES
Investor Summit: Monday 25th June 2012 Main Conference: Tuesday 26th Thursday 28th June 2012
www.superreturnemergingmarkets.com
VENUE DETAILS
InterContinental Hotel, Geneva 7-9 Chemin Du Petit-Saconnex Geneva 1211 Switzerland Tel:+41-22-9193939 Fax:+41-22-9193838 Email:inter-geneva@intercontinentalgeneva.ch Download hotel booking form on www.superreturnemergingmarkets.com
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