Agenda

Tuesday, May 12, 2015

  • 7:15 – 8:30

    The Brazil Breakfast, hosted by ABVCAP and Apex-Brasil
    Plaza Ballroom
    An invitation-only networking event for limited partners and special guests. During the seated breakfast, participants will hear from our keynote David Rubenstein, Co-Founder and Co-CEO at The Carlyle Group, on his perspectives of Brazil´s PE and where the country stands in comparison to other markets invested by The Carlyle Group.
  • 7:00 – 8:30

    Registration & Breakfast
  • 8:25 – 8:30

    Opening Remarks & Welcome
    Ritz-Carlton Ballroom

    • Maria C. Kozloski, Global Head and Chief Investment Officer, Private Equity Funds, International Finance Corporation (IFC)
  • 8:30 – 9:00

    Keynote Address: Rules of the Road – How to Spot the Rise and Fall of Nations
    Ritz-Carlton Ballroom

    Featuring:

    • Ruchir Sharma, Head of Emerging Markets and Global Macro at Morgan Stanley Investment Management, Author of Breakout Nations
  • 9:00 – 9:50

    Plenary Panel: Crystal Ball Session – Where are Next Opportunities to Unlock the Power of Private Equity in Emerging Markets?
    Ritz-Carlton Ballroom

    • How have global macroeconomic and geopolitical trends affected the environment for private equity in emerging markets? Where are trends working in favor of private equity, and where are global forces holding the industry back?
    • In many emerging economies, strong growth opportunities can be hampered by barriers to accessing resources and information, either through lack of infrastructure or through restrictive policies. How do successful fund managers approach these challenges to unlock the underlying opportunity set?
    • Market driven returns are paramount to investors across all asset classes, but is there an increased focus on measurable social impact? How can private equity players effectively communicate the impact of the asset class on the business ecosystem in emerging markets?
    • Do you see more or less opportunities for private equity in emerging markets now or five years ago? Where do you plan to focus? What concerns you?

    Panelists:

    • Wesley Clark, Founder, Wesley K. Clark & Associates
    • Robert Petty, Managing Partner and Co-Founder, Clearwater Capital Partners
    • Renosi Mokate, Chairperson of the Board of Trustees and Chairperson of the Investment Committee, Government Employees Pension Fund (GPEF)
    • Eytan Stibbe, Founding Partner, Vital Capital

    Moderator:

  • 9:50 – 10:50

    Plenary Panel: The Asset Allocation Game – Weighing Emerging vs. Developed Markets & Private Equity vs. Other Asset Classes
    Ritz-Carlton Ballroom

    • Where are the returns going to come from? Frontier, BRICS, US, Europe?
    • What has changed in the last year? And, what’s going to change now?
    • How does the renewed focus on security worldwide affect the picture?
    • What is the relationship between AUM and returns? Does it matter by asset class?
    • Thinking beyond the asset allocation game, and considering the role of partners.

    Panelists:

    Moderator:

    • Prakash Mehta, Partner, Co-Head Investment Management Practices, Akin Gump Strauss Hauer & Feld LLP
  • 10:50 – 11:10

    Networking & Refreshments Break
    Sponsored by Udo Udoma & Belo-Osagie

  • 11:10 – 11:55

    • Breakout Session A: Sub-Saharan Africa
      • For a market long associated with small ticket sizes, how is the recent influx of capital (over US$4 billion in 2014) affecting the region’s investment environment?
      • Fund managers are increasingly adopting pan-African, rather than country-specific, remits. What benefits does this approach offer, both in terms of attracting LP commitments and creating value within portfolio companies? What are the drawbacks?
      • Which markets in Sub-Saharan Africa do you expect to offer the most exciting investment opportunities in the next 3-5 years, and conversely, which will be the most challenging?
      • DFIs have played an important role in Sub-Saharan Africa’s private equity industry. How has the makeup of your LP base evolved, and how do you see local LPs playing a role in the industry going forward?

      Panelists:

      • Anthonie de Beer, Partner, Ethos Private Equity
      • Hurley Doddy, Managing Director, Founding Partner and Co-Chief Executive Officer, Emerging Capital Partners (ECP)
      • Okechukwu Enelamah, Chief Executive Officer, African Capital Alliance
      • Kevin Nijiraini, Regional Lead, Sub-Saharan Africa, International Finance Corporation (IFC)

      Moderator:

      • Aubrey Hruby, Visiting Fellow, Africa Center, Atlantic Council
    • Breakout Session B: Southeast Asia
      • The region continues to rank among the most attractive emerging markets globally for investment, and LPs have higher net return expectations for Southeast Asia than for any other single region or market. How can fund managers deliver on this perceived potential?
      • What are the essential elements to a successful investment strategy in Southeast Asian markets?
      • 2015 is nominally the launch year for the ASEAN Economic Community (AEC). How will ASEAN integration play out in the short and medium term?
      • In 2014, China experienced its slowest rate of economic growth in 25 years. What knock-on effects will rebalancing in the region’s largest market have on Southeast Asia?

      Panelists:

      • Peter Cornelius, Managing Director, AlpInvest Partners
      • David Do, Managing Director, VI Group
      • Paul Kang, Senior Partner, Head of Southeast Asia, Headland Capital
      • Pote Videt, Managing Director, Lombard Investments

      Moderator:

      • Marsha Vande Berg, Former CEO, Pacific Pension Institute and Senior Fellow, International Financial Systems, Harvard University
  • 11:55 – 12:45

    Plenary Panel: Exit Readiness – Examining Value Creation Throughout the Deal Lifecycle
    Ritz-Carlton Ballroom

    • How important is a well-articulated value creation strategy to investors?
    • What are the most common value creation opportunities that managers should look for in their portfolio companies, and at what stage in the deal lifecycle should investors be reviewing these areas?
    • How do successful fund managers execute value creation strategies in specific areas such as corporate governance, management best practices and decision making processes?
    • How do you parlay a value creation strategy into a successful exit? What should be the end game to attract strategic buyers or launch a successful IPO?

    Panelists:

    Moderator:

  • 12:45 – 13:10

    Keynote Interview: Insights from a University Chief Investment Officer
    Ritz-Carlton Ballroom

    • Lawrence Kochard, Chief Executive Officer & Chief Investment Officer, University of Virginia Investment Management Company (UVIMCO)

    Interviewer:

  • 13:10 – 14:10

    The India Luncheon, hosted by IVCA
    Plaza BallroomA networking event for LPs and GPs, featuring an expert panel with representatives from IVCA, Baring Private Equity Partners, ChrysCapital, ICICI Ventures, Gaja Capital, KKR, and Nishith Desai Associates. Advance RSVP is required.

  • 13:10 – 14:40

    Networking Lunch
  •  

    Regional Breakout Sessions
  • 14:40 – 15:25

    • Track A: Latin America & Mexico
      Salon I-II

      • For the 2nd year in a row, EMPEA’s 2015 Global LP Survey ranks Latin America ex. Brazil as the most attractive emerging market. What factors do you think have led to the region’s popularity with investors?
      • The energy sector has been seen as a major area of opportunity in the region, with major reforms and deal flow in several key markets. How will the global fall in oil prices towards the end of last year affect the industry, and where do you continue to see opportunities?
      • While Brazil is the largest and most dominant single market in Latin America, the Pacific Alliance is quickly gaining ground. Is it only a matter of time before the Pacific Alliance catches up?

      Panelists:

      Moderator:

      • Ralph Keitel, Latin America and Caribbean Regional Lead, Global Private Equity Funds, International Finance Corporation (IFC)
    • Track B: India
      Salon III

      • EMPEA’s 2015 Global LP Survey ranks India as the 4th most attractive emerging market for investment – up from 8th in the previous year. What do you think is driving this change in sentiment?
      • Has the changing political climate over the past year translated into substantive improvement in India’s economic or regulatory environment?
      • India’s exit environment has been a top concern for LPs. What are GPs doing to address this? What expectations do you have for the exit environment going forward?
      • To what degree do you see increasing overlap between venture capital fund managers and growth investors? How do you see increasing VC activity affecting deal flow for investors involved in later stage financing?

      Panelists:

      • Raamdeo Agrawal, Joint Managing Director, Motilal Oswal Financial Services Limited and Chairman, Motilal Oswal Private Equity
      • Satish Mandhana, Managing Partner & CIO, IDFC Alternatives Limited
      • Sunish Sharma, Managing Partner, Kedaara Capital Advisors LLP
      • Ramesh Venkataraman, Senior Managing Director, Private Equity, Samena Capital

      Moderator:

    • Track C: CEE/CIS & Turkey
      Plaza Ballroom

      • CEE/CIS and Turkey have faced numerous and diverse challenges in recent years. How do you see private equity in this diverse landscape adapting going forward? Are there opportunities to be had despite, or as a result of, the recent difficulties?
      • Despite these macro-level difficulties, fundraising in CEE and CIS reached US$2 billion in 2014. What is the source of investors’ presumed optimism? As some markets within the region have become more difficult, have other markets become more attractive?
      • Due to the political and economic situation, GPs are likely to focus their efforts on existing portfolio companies. How are GPs continuing to add value? How do you see the exit climate in the region?

      Panelists:

      • Anne Fossemalle, Director, Private Equity Funds, European Bank for Reconstruction and Development (EBRD)
      • Lenna Koszarny, Founding Partner and Chief Executive Officer, Horizon Capital
      • Ron Slimp, Managing Partner, TD International, LLC
      • Anthony Stalker, Partner and Chief Operating Officer, ADM Capital Europe LLP
      • Memet Yazici, Managing Partner, TRPE Capital

      Moderator:

  • 15:35 – 16:20

    • Track A: China
      Salon I-II

      • How will China’s economic slowdown and resulting shift in economic policies effect fund managers’ current and future investments?
      • Chinese companies have seen an increase in funding that is prompting concerns about potential overvaluation. How will this trend play out, and how can fund managers make strategic investments within this over-hyped environment?
      • Exits in China were fairly robust in 2014, driven by a few high-profile IPOs, and domestic stock markets also saw a dramatic increase in activity in Q1 2015. How will these trends affect managers’ exit strategies for the short and long term?

      Panelists:

      • Yi Li, Partner and Head of Business Development, Lunar Capital
      • Sheng Lu, Head of Investor Relations and Communications, BVCF China
      • Chauncey Shey, Managing Partner, Softbank China VC
      • Anson Wang, Managing Partner, CMIA Capital Partners Private Limited

      Moderator:

      • Rebecca Xu, Co-Founder and Managing Director, Asia Alternatives Advisor Hong Kong Limited
    • Track B: MENA
      Salon III

      • Recent EMPEA research has found that private equity offers greater access to consumer-driven opportunities in the MENA region. How does this play out in your portfolio, and what other opportunities is private equity uniquely positioned to take advantage of in the region?
      • How does the private equity environment in the Middle East differ from that in North Africa, and what are the implications of these differences for LPs looking to commit to the region?
      • How has the committed fund model been applied in the Middle East, and are there alternatives that investors have become accustomed to?
      • How has political unrest influenced MENA’s private equity industry? What are the key challenges to greater private equity investment in the region?

      Panelists:

      Moderator:

    • Track C: Brazil
      Plaza

      • Currency problems, political instability, and lack of economic growth have all had an impact on Brazil in the last 18 months. How are these issues affecting fundraising and investment activity? Does the perceived climate of instability in Brazil actually open up opportunities?
      • 2014 fundraising in Brazil eclipsed US$4 billion, with a handful of large, established players accounting for the bulk of capital raised. Do you foresee this trend continuing? What does this mean for the PE ecosystem in the long run?
      • – Exits globally have been on the rise but in Brazil continue to be challenging. Does the lack of capital markets options shape your investment strategies? How do you choose and structure your portfolio companies to best position them for when exits are difficult?

      Panelists:

      Moderator:

  • 16:20 – 16:40

    Networking & Refreshments Break
  • 16:40 – 17:10

    Fireside Chat: Innovation in Emerging Economies
    Ritz-Carlton Ballroom

    • Oliver Samwer, Founder and Chief Executive Officer, Rocket Internet

    Interviewer:

    • Ben Parr, Managing Partner of DominateFund and Author of Captivology: The Science of Capturing People’s Attention
  • 17:10 – 18:00

    Plenary Panel: Ask the LPs
    Ritz-Carlton Ballroom

    Pose your questions to our panel of LPs to uncover valuable information about investor appetites, motivations, and pain points.

    • Where do emerging markets fit within private market strategies today?
    • Which emerging markets investment themes hold the most promise, and which macro trends are most worrying?
    • The investor’s view on evolving terms and conditions: observations on what is “market” and negotiating tactics in challenging times
    • Reporting and transparency: how managers should respond to growing LP needs for information

    Panelists:

    • Travis Angevine, Director of Private Markets, Alfred I. duPont Testamentary Trust
    • Peter Keehn, Global Head of Private Equity, Allstate Investments
    • Craig Payne, Managing Director, BlackRock Private Equity Partners
    • David Wilton, Managing Director, Morgan Stanley Alternative Investment Partners

    Moderator:

    • Jennifer Choi, Managing Director, Industry Affairs, Institutional Limited Partners Association (ILPA)
  • 18:00

    Closing Remarks
  • 18:00 – 19:00

    Cocktail Reception
    Sponsored by Etihad Airlines

Wednesday, May 13, 2015

  • 7:15 – 8:30

    LPs-Only Breakfast, hosted by EMPEA (By Invitation Only)
  • 7:30 – 8:30

    Registration & Breakfast
  • 8:30 – 8:35

    Opening Remarks & Welcome
    Ritz-Carlton Ballroom

  • 8:35 – 9:00

    Executive Interview
    Ritz-Carlton Ballroom

    Interviewee:

    • Jin-Yong Cai, Executive Vice President & CEO, International Finance Corporation (IFC)

    Interviewer:

    • Henny Sender, Chief Correspondent, International Finance, FT
  • 9:00 – 9:30

    A Conversation With Alan Greenspan
    Ritz-Carlton Ballroom

    Speaker:

    • Alan Greenspan, Economist and Former Chairman of the Federal Reserve of the United States

    Interviewer:

  • 9:30 – 9:40

    Setting the Stage: Regulating a Mature Asset Class & Examining Various Stages of Regulatory Development
    Ritz-Carlton Ballroom

    • What are the current regulatory trends and tools? From examination scrutiny to big data. To what extent do industry regulators talk to and learn from each other?
    • What are current regulatory enforcement priorities and what should private equity participants focus on to stay out of trouble?
    • What form of regulation do market participants want and why? Are different regulatory approaches leading to competition across markets?
    • SEC Priorities for 2015: the changing regulatory landscape, observation of current enforcement cases and examination trends and industry recommendations.

    Panelists:

    • Simon Johnson, Ronald A. Kurtz Professor of Entrepreneurship and Professor of Global Economics and Management, MIT Sloan School of Management
  • 9:40 – 10:20

    Plenary Panel: Regulating a Mature Asset Class & Examining Various Stages of Regulatory Development
    Ritz-Carlton Ballroom

    Panelists:

    • Alison Harwood, Global Practice Manager, Capital Markets, Pensions, Insurance, and Investment Funds, Finance and Markets Practice, International Finance Corporation (IFC)
    • Simon Johnson, Ronald A. Kurtz Professor of Entrepreneurship and Professor of Global Economics and Management, MIT Sloan School of Management
    • Igor Rozenblit, Co-head Private Funds Unit, Office of Compliance Inspections and Examinations, US Securities and Exchange Commission

    Moderator:

  • 10:20 – 10:40

    Networking and Refreshment Break
  • 10:45 – 11:15

    Keynote Discussion: Driving African Growth Through Entrepreneurship
    Ritz-Carlton Ballroom

    • Ashish J. Thakkar, Founder, Mara Group and Mara Foundation and Co-Founder, Atlas Mara

    Moderator:

    • Dan Keeler, Editor, Frontier Markets, The Wall Street Journal
  • 11:15 – 11:55

    Keynote Discussion: The Importance of Sustainable Business Practices in Emerging Markets
    Ritz-Carlton Ballroom

    • Socio-economic circumstances across global emerging markets present challenges for countries, communities, businesses and investors. How are shifting and competing trends such as liberalization and urban growth, persistent poverty and resource constraints, coupled with the explosion of social media, shaping the landscape for global business players?
    • These markets also present complex sustainability and governance challenges. How should private equity investors approach these markets and challenges to demonstrate their commitment to sustainable business practices and sound corporate governance?
    • How important is the role of private companies in spurring the transition from business as usual to sustainable economic growth?
    • Investor expectations are evolving, and environmental issues, sustainability and business integrity is not only a DFI concern. To what extent are mainstream investors adopting sustainability requirements, and what are the implications for private equity fund managers?

    Featuring:

    • Mark Tercek, President and Chief Executive Officer, Nature Conservancy
    • Tam Nguyen, Global Head of Sustainability, Bechtel
    • Ritu Kumar, Director of Environmental and Social Responsibility, CDC Group PLC

    Moderator:

    • Yana Kakar, Global Managing Partner, Dalberg Global Development Advisors
  •  

    Breakout Sessions
  • 12:00 – 12:45

    • Track A: Venture Capital
      Salon III

      • What is the state of the Venture Capital industry in emerging markets? How large is the market?
      • Is Venture Capital in emerging markets qualitatively different from VC in developed markets?
      • What are the key trends – in terms of both opportunities and challenges – in the EM VC industry?
      • What are the key risks of Venture Capital investing in emerging markets?

      Panelists:

      Moderator:

      • Nikunj Jinsi, Global Head of Venture Capital, International Finance Corporation (IFC)
    • Track B: Terms & Conditions – Defining the LP/GP Relationship
      Plaza Ballroom

      • What will be the likely impact of increased industry regulation across the globe on terms and conditions for funds operating in emerging markets?
      • What measures are LPs imposing on EM GP’s to ensure that high standards are met? How much variation is there between managers and geographies?
      • Conflicts issues between LPs – are all LPs treated equally?
      • Confidentiality issues – tensions between operational transparency needs and investor nondisclosure requirements

      Panelists:

      • Erik Bosman, Director of Private Equity, FMO – Netherlands Development Finance Company
      • Mounir Guen, Chief Executive Officer, MVision Private Equity Advisers
      • Jonathan Haddon, General Counsel and Secretary, Darby Overseas Investments, Ltd
      • Christian Kallen, Principal, Hamilton Lane
      • Wen Tan, Partner, FLAG Squadron Asia Limited

      Moderator:

  • 12:45 – 14:00

    Networking Luncheon
    Ritz-Carlton Ballroom
  • 14:00 – 14:45

    • Track A: Impact Investing
      Salon III

      • What evidence exists that Impact Investing can generate attractive financial returns as well as social and environmental benefits?
      • How is Impact Investing evolving? How large is the universe of fund managers? The universe of LPs?
      • Have there been successful exits from Impact Investing yet? If yes, what? If not, why not? What are the main challenges?
      • What is the role of innovation in contributing to the growth and success of Impact Investing? New technologies? New financing structures? New business models?
      • Is Impact Investing becoming more mainstream yet? What trends do you expect for the next 2-3 years?

      Panelists:

      • Monica Brand, Managing Director, Frontier Investments Group, Accion
      • Gloria Nelund, Chairman and Chief Executive Officer, TriLinc Global
      • Vineet Rai, Chief Executive Officer and Managing Director, Aavishkaar
      • Wolf Witt, Associate Director, Zurich Alternative Asset Management

      Moderator:

    • Track B: Deal Structuring
      Plaza Ballroom

      • Examining three emerging markets PE case studies with a focus on due diligence and deal structuring
      • Explore deal structuring to mitigate commercial and legal risks and address anti-corruption issues
      • Ensure best practice corporate governance
      • Create a platform for a profitable exit and maximize social impact

      Panelists:

      • Drew Guff, Managing Director, Russia Partners
      • Brenda Hansen, General Counsel, MicroVest
      • Matthew Morrison, Director, Head of Credit Risk Management, Calvert Social Investment Foundation
      • Dennis Soliven, Principal Counsel, International Finance Corporation

      Moderator:

  • 14:50 – 15:30

    Plenary Panel: Emerging Markets Private Equity Data Presentation
    Ritz-Carlton Ballroom

    Panelists:

    Moderator

  • 15:30 – 15:50

    Networking and Refreshment Break
  •  

    Best Practices Seminars
  • 15:50 – 16:35

    • Track A: Risk Sharing Partnerships
      Salon I-II

      • How can risk sharing partnerships fit into an investor’s overall risk mitigation strategy?
      • At what point should one engage a risk sharing partner?
      • What types of risk sharing partnerships exist in the market, and how should investors evaluate these partnerships in terms of cost-benefit analysis?
      • What are common structures for risk sharing partnerships, and what are the differences in protecting LPs, funds or specific deals?

      Panelists:

      • Justin Willmott, Vice President, Underwriter, Sovereign Risk Insurance
      • Edith Quintrell, Director, Operations Group, Multilateral Investment Guarantee Agency (MIGA)
      • Chris Vermont, Managing Director, GuarantCo, Frontier Markets Fund Managers

      Moderator:

    • Track B: Investing in Women
      Salon III

      • The market for women-owned enterprises is huge ($300 billion in financing gap globally). How do traditional PE investors tap into this opportunity?
      • How do we apply the lessons learned from the US experience of investing in women to emerging markets?
      • Beyond capital, what other value-additions should investors consider when investing in women-owned enterprises?
      • How will this field develop in the future? What is the next frontier in this space?

      Panelists:

      Moderator:

    • Track C: ESG
      Plaza Ballroom

      • Does managing E&S risks and understanding of value of sustainable business really lead to better performance at the ground? Is the cost proportionate to achieved performance gains?
      • Are the current E&S risk management requirements really necessary or it’s just another compliance mechanism set by “enlightened” LPs?
      • Is there a smarter way to address such risks? Wouldn’t, for instance, compliance with country E&S legal framework lead to similar outcomes?

      Panelists:

      Moderator:

      • James Brice, Managing Director, EBS Advisory (Pty) Ltd
  • 16:45 – 17:30

    • Track A: Co-Investments
      Salon I-II

      • What is driving the trend toward co-investments and is it a sustainable long term strategy?
      • How are LPs successfully implementing co-investment strategies?
      • What are the major pain points for both LPs and GPs engaging in co-investments?
      • How have co-investment strategies affected LPs’ investment portfolios?

      Panelists:

      • Rashad Kaldany, Executive Vice-President, Emerging Markets, The Caisse de Dépôt et Placement du Quebec (CDPQ)
      • Jay Koh, Managing Director, Siguler Guff & Company
      • Martin Kimmig, Managing Director, The Rock Creek Group
      • Dalein van Zyl, Principal Metier

      Moderator:

    • Track B: Power Generation
      Salon III

      • What are the risks, issues and misconceptions with power sector opportunities in emerging market countries?
      • Which emerging markets have been, or on track to become, attractive investment destinations based on strong, stable, and market friendly energy policy?
      • What role does carbon footprint play in an investment strategy for a power focused LP or GP?
      • Can renewable power play a role in EM power markets?
      • What are appropriate return expectations for power investors in emerging markets?

      Panelists:

      Moderator:

      • Brooks Preston, Head of Investment Funds Department, Overseas Private Investment Corporation
    • Track C: Building an Entrepreneurial Ecosystem: Finance and Beyond for SMEs
      Plaza Ballroom

      • How can we generate more investment-ready SMEs and what are the elements of a strong entrepreneurial ecosystem?
      • What is the role of specific business development interventions?
      • Who will fill the talent gap at the middle and upper management levels in emerging markets?
      • How can we best link finance providers with technical assistance providers?
      • What investment structures are best suited for the longer term development cycle of most SMEs?

      Panelists:

      • Anthony Oboh, Chief Executive Officer, Unique Venture Capital
      • Rhett Morris, Director, Endeavor Insight
      • Rik Vyverman, Head Ventures Equity, ResonsAbility

      Moderator:

      • Randall Kempner, Executive Director, Aspen Network of Development Entrepreneurs
  • 17:35 – 18:00

    The Perfect Pitch
    Salon I-II
    *Advanced signup is required. Space is limited.
    Learn how to craft the best pitch as GP attendees present their two minute “elevator pitch” and gain on-the-spot feedback from our expert panel of judges.

    Judges Panel:

  • 18:00

    Closing Remarks

  • 18:00 – 19:00

    Cocktail Reception