The Emerging Markets Private Equity Forum: London 2008
Co-hosted by Private Equity International and the Emerging Markets Private Equity Association (EMPEA)
The largest annual meeting of dedicated emerging markets practitioners
The Intercontinental Hotel, London
04-05 November, 2008
Day 1: Tuesday 4th November, 2008
08:00 - 08:45
Coffee and Registration
08:45 – 09:00
Chairman’s welcome
Philip Borel, Editor-in-Chief, PEI Media
09:00 – 09:25
Keynote address: Why emerging markets – what makes them the place to invest?
• Where are the major challenges and how do you mitigate various risks (economic political, regulatory, governance)
• Are more and more GPs focusing on ESG issues and if so, what’s in it for them?
• Making the case for investors - what are their greatest objections to emerging markets?
Sameer Al Ansari, Executive Chairman & CEO, Dubai International Capital
09:25 - 10:15
Panel session: Brave new world – what’s next for emerging markets private equity?
• Have emerging markets GPs altered their strategies to adjust to credit concerns?
• What are new, emerging sources of funding: what types of LPs are actively looking at emerging markets and what role will sovereign wealth funds play?
• Where do strategic opportunities lie in emerging markets and in what new frontier markets?
Moderator:
Sarah Alexander, President, EMPEA
Panel Member:
Thomas Barry, CEO & Founder, Zephyr Management
Dr Archana Hingorani, Executive Director, IL&FS Investment Managers Limited
Yasser El Mallawany, Chairman, EFG-Hermes Private Equity
Graham Thomas, Global Head, Standard Bank Private Equity
10:15 – 10:45
Coffee
10:45 – 11:20
Keynote address: Macro economic trends and the impact on private equity in emerging markets
Bill Emmott, International Author & Ex-Editor of The Economist
11:20 – 12:00
The big debate: This House believes that the Western credit crisis is good for emerging markets private equity
Moderator:
Nicholas Lockley, Deputy Director Conferences, PEI Media
For the motion:
Antonio Boncristiano, Co-Chief Executive Officer, GP Investments
Jonathon Bond, Partner, Actis
Against the motion:
Dr Ahmed Heikal, Chairman & Co-Founder, Citadel Capital
Chris Rowlands, Managing Partner – Asia, 3i
12:00 – 12:45
Panel session: Energy and cleantech – it’s not just oil and gas
• How can investors take advantage of government investments and environmental policy enforcement?
• Where are the next hot markets?
• Is the green movement a fad or fact of life for emerging market economies?
Moderator:
Nicholas Parker, Chairman & Managing Partner, Cleantech Group LLC
Panel Members:
Roger Berry, Head of Investor Relations, Climate Change Capital
Bill Pearce, Director, Overseas Private Investment Corporation (OPIC)
Raj Pai, Managing Director, Global Environment Fund Group- South Asia Clean Energy Fund.
Adam Wolfensohn, Managing Director, Wolfensohn & Company
12:45 – 14:15
Networking Lunch: delegates will be offered the opportunity to join fellow interested delegates in designated regional “sectors”
• ASIA
• AFRICA
• LATIN AMERICA
• MIDDLE EAST
14:15 – 15:00
Regional Roundtables – Part I
Turkey
Facilitator:
Sarah Alexander, President, EMPEA
Participants:
Ferhat Guven, Managing Director, Paladin Realty Partners – EurAsia
Dan Morgan, Director, Advent International
Seymur Tari, Managing Director, Turkven
China
Facilitator:
Amanda Janis, Editor, PrivateEquityOnline
Participants:
Innes Meek, Portfolio Director - China, Malaysia & Afghanistan, CDC Group
Steve Wu, Managing Partner, Aureos Sino Investment Advisors Limited
North Africa
Facilitator:
Jennifer Choi, Director of Research, EMPEA
Participants:
Jean-Guillaume Habay, Director, Swicorp
Ziad Oueslati, Founding Partner, Tuninvest Finance Group
Adel Saudi, Chief Executive Officer, Tuareg Capital
Russia/Ukraine
Facilitator:
Shannon Delany, Director of Conferences and Professional Development, EMPEA
Participants:
Michael Katsnelson, Head - Moscow office, Quadriga Capital
Lucy Nicholls, Partner, Adams Street Partners
Johan Werbrouck, Founder & Managing Partner, Steinberg Capital
15:00 – 15:45
Regional Roundtables – Part II
Middle East
Facilitator:
Philip Borel, Editor-in-Chief, PEI Media
Participants:
Nigel Clark, Partner, Clifford Chance
Shailesh Dash, Managing Partner, Global Capital Management
Ali Erfan, Senior Advisor, Ithmar Capital
Latin America
Facilitator:
Jennifer Choi, Director of Research, EMPEA
Participants:
Erik Carlberg, Founding Partner, Alta Growth Capital
Duncan Littlejohn, Managing Director for Latin America, Paul Capital Partners
Erik Peterson, Regional Managing Partner, Aureos Capital Latin America
India
Facilitator:
Nicholas Lockley, Deputy Director of Conference, PEI Media
Participants:
Leo Puri, Managing Director, Warburg Pincus
Chris Rowlands, Managing Partner – Asia, 3i
Anubha Shrivastava, Managing Director, CDC Group
Sub-Saharan Africa
Facilitator:
Shannon Delany, Director of Conferences and Professional Development, EMPEA
Participants:
Ngalaah Chuphi, Partner, Ethos Private Equity
André Pieterse, Chief Executive Officer, Absa Capital Private Equity
Soula Proxenos, Managing Director, International Housing Solutions
15:45 – 16:15
Coffee
16:15 – 17:15
Workshops
Workshop A: Infrastructure – turning potholes into gold
• Where to invest – part of or total supply chain?
• Regulatory risks and the role of public private partnerships
• Case Study: Overview of a successful investment, entry to exit
Moderator:
Raja Parthasarathy, Managing Director, IDFC Private Equity
Participant:
Orli Arav, Director, Frontier Markets Fund Managers
Raymond Fung, Head of Infrastructure – East Asia, Babcock & Brown
Workshop B: Terms and conditions for funds in emerging markets
• Should terms and conditions be different from mature markets?
• Carried interest: Deal by deal or fund-as-whole - which is preferable for emerging market investors?
• Room for manoeuvre – ensuring flexibility within your agreements
Moderator:
Geoffrey Kittredge, Partner, Debevoise & Plimpton LLP
Participant:
Andrew Bentley, Partner, Campbell Lutyens
Mark Kenderdine-Davies, General Counsel & Company Secretary, CDC Group
Workshop C: Identifying and planning strategies to combat high profile risk
• Does an emerging market always mean a high level of risk?
• Identifying an acceptable level of risk – what are the main threats?
• Strategies and procedures to mitigate potential risk
• Benefits of local knowledge
Moderator:
Charles Hecker, Director - Russia & CIS, Control Risks
Participant:
Henry Potter, Partner - Investments, Alpha Associates
Thomas Smith, Managing Director, Lombard Investments
Workshop D: Fundraising in tough times
• Why private equity firms in the emerging markets space are relishing the global economic picture
• Accessing capital – are returns meeting LP expectations in these markets?
• Developing and sticking to a successful strategy
• Highlighting emerging market success stories
Moderator:
Paul Denning, Chief Executive Officer, Denning & Company
Participant:
Natalie Braun, Partner, SVB Capital
Paul Marson-Smith, Managing Partner, Gresham
17:15 – 17:50
On stage interview: How sovereign wealth funds are increasingly impacting global emerging markets
Interviewer:
Amanda Janis, Editor, PrivateEquityOnline
Interviewee:
Dag Detter, Senior Advisor in the Private Equity Industry
17:50 – 19:50
Cocktail Reception hosted by Debevoise & Plimpton LLP
Day 2: Wednesday 5th November, 2008
07:30 – 08:30
LP Breakfast
This breakfast meeting is by invitation only and is hosted by EMPEA
08:00 – 08:45
Coffee and Registration
08:45 – 09:00
Conference review/preview and Chairman’s welcome
Roger Leeds, Chairman, EMPEA
09:00 – 09:20
Keynote address: The LP perspective on emerging markets
• What private equity offers investors looking at emerging markets?
• Regional versus country focus investing – what is best for you?
• Entering an emerging market – co-investing and local partners
• The ethical/social role of investors in emerging markets – should there be one?
Solomon Owayda, Chief Investment Officer, SVG Advisers
09:20 – 10:00:
Panel session: The development of professional standards within the private equity industry and the impact on emerging markets
• What lessons have mature market players learnt?
• Why should those operating in emerging markets take note?
• Meeting investors’ expectations and maintaining standards
• Is self-regulation the answer?
Moderator:
Jennifer Choi, Director of Research, EMPEA
Panel Members:
Patricia Cloherty, Chairman & CEO, Delta Private Equity Partners
Javier Echarri, Secretary General, EVCA
Sir Michael Rake, Chairman, BT Group
Simon Witney, Partner, SJ Berwin
10:00 – 10:40
Panel session: ESG - the next new thing: environmental, social and governance issues that will affect funding and investment decisions in emerging markets
• What should firms focus on when introducing good corporate citizenship guidelines with respect to ESG issues?
• Is it all about the returns – how important are social and environmental issues?
• Does solid corporate governance just mitigate risk or does it also create value?
Moderator:
Geoffrey P. Burgess, Partner, Debevoise & Plimpton LLP
Panel Members:
Leo Lueb, Head of Private Equity, PGGM Investments
Vincent Neate, Partner, KPMG
Prof. Luc Nijs, Founder & CEO, Horizon
Tom Rotherham, Senior Advisor - Private Equity Workstream, UN Principles for Responsible Investment
10:40 – 11:10
Coffee
11:10 – 11:40
Keynote address: Emerging Markets PE: Now it REALLY gets interesting
John Zhao, Chief Executive Officer, Hony Capital
11:40 – 12:30
Closing panel session: What constitutes the right investment proposition in emerging markets
• Why emerging markets?
• The management selection process – the importance of track records
• Local GPs or global – does it matter?
• What are realistic return rates and time scales for opportunities in emerging markets?
• How important is ESG when selecting the fund?
Moderator:
Edward Gander, Partner, Clifford Chance
Panel Member:
Ritesh Anand, Investment Manager, Wellcome Trust
Kathleen Bacon, Managing Director, HarbourVest
Janusz Heath, Managing Director, Capital Dynamics
David Pierce, Chief Executive Officer, Squadron Capital Advisors
12:30 – 14:00
Lunch & close of conference