The PEI Africa Forum
Regional risk, institutional capital and growth
15th & 16th June 2011, London
Day One - 15th June 2011
08.00 – 08.50
Welcome Coffee
08:50 – 09:00
PEI welcome
Colm Gilmore, Director, Conferences, PEI
09:00 – 09:15
Chairman’s welcome address
Andrew Reicher, Programme Manager, Private Infrastructure Development Group
The Business Case for Africa
09:15 – 09:45
Opening keynote address
Why would you invest in Africa when other countries GDP figures are better?
- Developing a reasonable business case for Africa
- Why would you invest in Africa when you can invest in China, Brazil or India
- Where does Africa fit in an emerging market portfolio?
- How are the natural resources of Africa shaping PE investment?
Danny Truell, Chief Investment Officer, Wellcome Trust
09:45 – 10:15
Data snapshot: Return of frontier markets – Africa’s decade
- Current trends and developments shaping investments in the region
- The structural case for African growth
- Soaring food and fuel prices – how much of a threat?
- The market assessment
Razia Khan, Regional Head of Research, Africa, Standard Chartered
10:15 – 11:00
Panel discussion
Unlocking and mobilising African institutional money
- Why haven’t certain LPs invested in Africa yet?
- Identifying risk-return expectations
- Is the traditional ten year blind pool fund right for African investors?
- How much African money is on the sideline?
Moderator
Patrick Deasy, Partner, Corporate Finance, SJ Berwin
Panellists
Ian Anderson, Africa Programme Manager, The Gatsby Charitable Foundation
David Ashiagbor, Economic Adviser, Economic Affairs Division, Commonwealth Secretariat
Hurley Doddy, Co-Founder & Co-CEO, Emerging Capital Partners
Tshepidi Moremong, Chairlady, Board of Directors, AVCA
11:00 – 11:30
Morning refreshments
11:30 – 12:15
Panel discussion
Fundraising - Where are the commercial LPs?
- Identifying sources of capital available in the current market
- Attracting private non-DFI money
- What do investors want to see in fund structures?
- How difficult has it been out on the road?
Moderator
Warren Hibbert, Managing Partner, Asante Capital
Panellists
Doug Agble, Partner & Co-founder, 8Miles
Runa Alam, CEO and Partner, Development Partners International
Riaz Currimjee, Managing Director, Surya Capital
Theodore Giletti, Director, Angola Capital Partners
12:15 – 12:30
PEI special guest
Why Africa?
Bob Geldof KBE, Chairman & Co-founder, 8 Miles
12:30 – 14:00
Lunch
Fund Management
14:00 – 14:45
Panel discussion
African Infrastructure
- Identifying investors’ appetite for African infrastructure investments
- What is needed in delivering a successful project?
- How are governments supporting Africa’s need for infrastructure?
- Lessons learnt from recent projects
Moderator
David Creighton, President & CEO, Cordiant Capital
Panellists
Kudzayi Hove, Senior Vice President & Head Equity Investment, Africa Finance Corporation
Andrew Johnstone, Managing Director, African Infrastructure Investment Managers, Macquarie
Karim Sadek, Managing Director, Citadel Capital
Eytan Stibbe, Founding Managing Director and Chief Investment Officer, Vital Capital Fund
14:45 – 15:30
Workshop sessions
Workshop A
Dealing with economic and political risk
- Managing uncertainty in the market place – Interest rates, inflation and global currency
- How can you best deal with current social and political risks?
- Anticipating new risks on the horizon – What does the future hold?
Moderator
Hakim Khelifa, Senior Partner, Africinvest
Panellists
Zin Bekkali, Chief Executive Officer, Silk Invest
Rafi Ghazi, Managing Partner, LML Linked Matters
Keith Gubbin, Director, Africa Asset Management
Workshop B
Fund structures – What is the current state of play?
- Identifying fund structure that work for Africa
- Aligning the interests of GPs and LPs
- What new structures are out there?
- How will the AIFM Directive affect African PE investments?
Moderator
Patrick Deasy, Partner, Corporate Finance, SJ Berwin
Panellist
Richard Arlove, Chief Executive Officer, Abax Corporate Services
Azeem Adil Zainulbhai, President and CEO, Crescat Excolatur
Raj Morjaria, Partner, Aureos Capital
Jesper Persson, Senior Investment Officer, European Investment Bank
15:30 – 16:00
Afternoon refreshments
Managing Risk
16:00 – 16:30
Keynote presentation
How to best position your fund
- Capitalising on PE investment opportunities
- Where are the choicest opportunities for Private Equity to make a profit and be a trusted partner for development?
- Private equity as a force for good
Mark Florman, Chief Executive, BVCA
16:30 – 17:00
PEI Interview
Where to next for Africa?
- "Lions, tigers and lambs" - What’s what and who’s who in the "new" Africa?!
- Reassessing the impact of political and regional risk on foreign direct investment in the continent
- Identifying investment opportunities and the right partners
- Overcoming the obstacles and building long term sustainability
Interviewee
The Rt Hon Lord Boateng PC DL, Non Executive Director and Advisor, AEGIS Consulting
Formerly Chief Secretary to HMT and British High Commissioner to South Africa
Interviewer
Philip Borel, Senior Editor, Private Equity, PEI
17:00 – 17:15
Chairman’s closing comments and close of day one
Andrew Reicher, Programme Manager, Private Infrastructure Development Group
17:15 – 19:00
Cocktail reception
Day Two - 16th June 2011
08:00 – 09:00
LP breakfast (by invitation only)
Hosted by: Rod Evison, Managing Director, Africa and Latin America, CDC Group
09:00 09:05
PEI welcome
Nicholas Lockley, Deputy Director – Conferences, PEI
09:05 – 09:15
Chairman’s welcome address
Martin Poulsen, Chief Private Equity Officer, Private Sector and Microfinance Department, African Development Bank
LPs Expectations
09:15 –09:45
Opening keynote address
LP Perspective: What’s right and wrong with Africa
- Where does Africa fit within an investment portfolio?
- What are challenges when investing in Africa?
- The potential for Africa going forward
- Dealing with key risks
Rod Evison, Managing Director, Africa and Latin America, CDC Group
09:45 – 10:15
Data snapshot: The African economic growth story - A platform for private equity investment success
- Key economic statistics produced by African Development Bank
- What do these mean for private equity investors in Africa?
- Which sectors and regions offer the most attractive opportunities?
Martin Poulsen, Chief Private Equity Officer, Private Sector and Microfinance Department, African Development Bank
10:15 – 11:00
LP Panel discussion
Identifying key challenges and opportunities
- What is the appetite for investment in the market?
- What are LPs risk-return expectations?
- Direct versus indirect investments
- What fund structures appeal most?
Moderator
Dr Yemi Osindero, Head, West Africa Principal Finance, Standard Chartered Bank
Panellists
Janusz Heath, Managing Director, Capital Dynamics
Ralph Keitel, Principal Investment Officer, International Finance Corporation
Joachim Schumacher, First Vice President, Head of Equity and Mezzanine, DEG
Dushy Sivanithy, Principal, Pantheon Ventures
11:00 – 11:30
Morning refreshments
11:30 – 12:00
The LP Clinic: How to best position your fund in today’s market
Practical tips and guidance for African fund managers from 2 seasoned investors.
Moderator
Nicholas Lockley, Deputy Director – Conferences, PEI
Panellists
Jesper Persson, Senior Investment Officer, European Investment Bank
John Rowland, Investment Manager, Consensus Business Group
12:00 – 12:45
Panel discussion
The “missing middle” – How have they performed?
- What are the current market risk-return expectations?
- What returns have actually been achieved?
- Providing financing and strategic support
- Lessons learnt from recent investments
Moderator
Andrew Gaines, Managing Director, DeRisk
Panellists
Stephen Dawson, Chairman, Jacana Venture Partnership
Christopher Egerton-Warburton, Partner, Lion’s Head Global Partners
Coco Ferguson, Partner, Maris Capital
Zain Latif, Principal, TLG Capital
12:45 – 13:00
Chairman’s closing remarks
Martin Poulsen, Chief Private Equity Officer, Private Sector and Microfinance Department, African Development Bank
13:00 – 14:30
Lunch