• Public vs private ownership and governance - assessment of impact
   on investment performance and corporate outcomes
• Nature of corporate governance issues as they affect private
   equity - impact of evolution in CSR, environmental and ethical standards
• GP governance models: migration of many GPs from captive to
   independent to public status over time - evaluation of pluses and
   minuses of each form
• GP-LP relationships: is the form of private, one-on-one dialogue
   out-dated? Is there a better 21st century governance model for rapidly
   changing markets?
• Thinking ahead - new corporate governance trends and their potential
   impact on private equity

Moderator: John Barber, Partner, Bridgepoint Capital Ltd.

Panellists:
Ralph Aerni, CIO/Head Private Equity, SCM Strategic Capital Management AG
Max Römer, Founding Partner, Quadriga Capital Services GmbH
Jeremy Sheldon, Corporate Partner, Head of Private Investment Funds (London), Ashurst
Ad van den Ouweland, Senior Vice President, Robeco Group

• Benchmarking international codes of governance
• Lessons learned - from SMEs to public companies
• Assessing:

  - The added value of governance - beyond words
  - The degree of compliance after 1 year - the Spanish case study
  - The importance of networks at the Board - how the law of physics
    can be applied to networking

Speaker: Ana María Llopis Rivas - Presentation (2.44mb, PDF), CEO of Global Idea Flow, Non executive Independent Director of British American Tobacco & ABN Amro

 
Crisis, Cycles - What is Up for Private Equity?

Follow up of previous session, with a venture capital and private equity orientation.
Keynote speaker shares the stage with other panellists.

Moderator: Mark Mulligan, Financial Times

Panellists:
Patricia M. Cloherty, Chairman and CEO, Delta Private Equity Partners, LLC
Herman Daems, Chairman, GIMV NV
Anne Glover, CEO, Amadeus Capital Partners
Helmut Schühsler, EVCA Chairman 2007–2008
Urs Wietlisbach, Executive Vice Chairman, Partners Group

• What went wrong in the leveraged loan market?
• When and how will the leveraged loan market be back?
   (which structures, senior/mezzanine, high yield bonds, CLO’s,
   stapled transactions)
• What impact on markets if and when recession hits Europe?
• How to navigate in this market?
• Debt at a discount? Is it worth it?

Moderator: Mark Mulligan, Financial Times

Panellists:
Walter Butler - Presentation (599kb, PDF), Managing Partner, Butler Capital Partners
Ryan Marshall - Presentation (278kb, PDF), Managing Director, Kohlberg Kravis Roberts & Co.
Phillip Tamplin, Vice President, Credit Suisse

 
Afternoon 'Breakout' Focus I

This afternoon features several stream breakout sessions for venture, buyout, associate members, etc. They will focus on core issues influencing the venture capital and private equity market today.

Parallel Session 1 - Credit Crunch and Liquidity: Buying and Selling in a changing Environment

• Fundraising, valuation and exits
• How and how much has the credit crunch affected mid market buy out?
• Data, indicators, price levels, offer/demand
• The new/additional role of mezzanine in mid market since the crunch
• Impact on distressed capital
• Changing terms in light of changing market conditions
• How to satisfy all stakeholders: lenders, borrowers, and equity holders?
• Impact of changing CLO market on funding

Moderator: Paul Watters - Presentation (97kb, PDF), Director, Standard & Poor's

Speakers:
Nathalie Faure-Beaulieu, Regional Managing Director for Northern Europe, European Capital
John Fitzgerald, Portfolio Manager, Apollo Management International LLP
Sucheet Gupte, Associate Director, Standard & Poor's
Jonathan Rowland, Head of Financial Sponsors and Infrastructure, Citigroup Global Markets

Parallel Session 2 - Cleantech: The next Dotcom?

• Too much investing, too quickly? Examples include biofuels - a dead
   end, as we go back to producing crops for food? Have any of the
   issues cleantech is meant to address actually come under
   control – eg climate change, water shortage, energy saving and
   efficiency, etc?
• From upstart to the single largest investment category in
   4 or 5 years – why?
• Assessing exit opportunities and returns?

Moderator: Ali Erfan, Senior Advisor, Ithmar Capital

Panellists:
Gina Domanig, Managing Partner, Emerald Technology Ventures AG
Elizabeth Parrott, Manager - Western Europe, London Stock Exchange
Joern Pelzer, Partner, Pinova Capital
Patrick Sheehan, Partner, Environmental Technologies Fund
Richard Youngman, Managing Director, Cleantech Group - Europe

Parallel Session 3 - Impact of European Regulation on Private Equity Firms and Funds

• Broad impact of MiFID on private equity
• How are firms coping with execution and conflicts policies?
• How has recent European regulation affected the capacity to promote
   private equity to individual investors?
• What optimal capital structures should firms consider using?
• Is overlap between the MiFID and Prospectus Directive concept of a
   qualified investor" leading to a better definition of private placement
   for private equity funds?
• How does MiFID treat the qualification of local advisors to pan-European
   fund structures and connected tax issues?

Moderator: Daniel Tunkel, Partner, SJ Berwin LLP

Panellists:
Fabio Brunelli, Partner, Di Tanno e Associati
Maria Gracia Rubio, Partner, Baker & McKenzie Madrid S.L.
Daniel Schmidt, Partner, Proskauer Rose LLP

Parallel Session 4 - Risk and Reward - Private Equity and Venture Capital in Central and Eastern Europe

• What makes markets in transition attractive?
• IPOs as lucrative exit routes
• Did lenders appetite change recently?
• Getting the right mix of local knowledge and global experience

Moderator: Laszlo Olah, Managing Director, Mezzanine Management Hungary and President, HVCA (Hungarian Venture Capital and Private Equity Association)

Panellists:
Patricia M. Cloherty - Presentation (291kb, PDF), Chairman and CEO, Delta Private Equity Partners, LLC
Robert Manz - Presentation (41kb, PDF), Managing Partner and Board Member, Enterprise Investors Corporation
Matthew Strassberg, Partner, Mid Europa Partners LLP

Parallel Session 5 - Venture Market Statistics - Updates from PEREP_Analytics

• Average venture fund size per country
• Number of funds raised per country
• Market statistics based on the location of the portfolio company
• Divestments of venture backed companies by exit method
• User feedback on methodology and data

Moderator: Christoph Kaserer, Chair of Financial Management and Capital Markets at Munich Technical University, Chairman of the PEREP Analytics Governing Body

Panellists:
Mirela Ene - Presentation (1,003kb, PDF), Head of Research, EVCA
Dan Magirescu, Statistics Manager, PEREP Analytics

 
Afternoon 'Breakout' Focus II

Parallel Session 1 - New Geographical Frontiers in the Emerging Markets: Sourcing Deals or Sourcing LPs?

• Why European LPs and GPs need an emerging markets strategy
• Investing, fundraising and exiting in emerging countries markets
• Global vs. local: what pays more global private equity brands vs. local-grown teams

Moderator: Simone Cimino, Chairman, Cape Natixis SGR S.P.A.

Panellists:
Lay Hong Lee, Managing Director, Eagle Asia Partners
George Osorio, Managing Partner, Conduit Capital Partners
Witold Radwanski, Partner & CEO, Krokus PE
Alexia Tye, Partner, AddVenture

Parallel Session 2 - Building Global Leaders out of Europe

• What do winning Boards do?
• Where are those huge 10X market opportunities in a market downturn?
• When does every other non-Metropolis city of Europe get its Skype deal?
• Why is one of the most successful European tech start-ups run by a 31
   year old woman whom the venture capital community didn’t back?
• Should we encourage entrepreneurs in Europe to believe that they have
   everything that it takes to be the start-ups first CEO?
• Is it important for entrepreneurs to remain in control of their start-ups?

Moderator: Julie Meyer, CEO, Ariadne Capital

Panellists:
Eric Achtmann, Managing Partner, PolyTechnos Venture-Partners GmbH
Tomasz Czechowicz, Managing Partner, MCI Management SA
Carles Ferrer Roqueta, General Partner, Nauta Capital SGECR
Chad Raube, Investment Partner, Dawn Capital

Parallel Session 3 - Valuation of Portfolio Companies: The Role of the IPEV Guidelines and the Need for an appropriate Communication towards Stakeholders

• How does the current debate on fair value affect the private equity
   industry?
• How to communicate the valuation of your portfolio companies to
   stakeholders in an adverse economic environment?

Panellists:
Herman Daems, Chairman, GIMV NV
Didier Guennoc, International Private Equity Valuation Board Secretary
Carol Kennedy, Senior Partner, Pantheon Ventures Limited

Parallel Session 4 - From Financial to Social Returns… How can Private Equity make a Difference?

• Many private equity firms actively contribute to venture
   philanthropy/social entrepreneurship programmes. They use private
   equity-like techniques and focus with the sole aim to help others
• Find out why and how
• Will you be the next to join the club?

Moderator: Serge Raicher - Presentation (343kb, PDF), Partner Pantheon Ventures, Chairman-Elect EVPA

Panellists:
Carlo Umberto Bonomi, Partner, InvestIndustrial Advisors, S.A.
Stephen Dawson, Chairman, Impetus Trust
Jean-Louis Delvaux, Deputy CEO, Natixis Private Equity
Shaks Ghosh, CEO, Private Equity Foundation

Parallel Session 5 - Buyout Market Statistics - Updates from PEREP_Analytics

• Average buyout fund size per country
• Number of funds raised per country
• Market statistics based on the location of the portfolio company
• Divestments of buyout backed companies by exit method
• User feedback on methodology and data

Moderator: Christoph Kaserer, Chair of Financial Management and Capital Markets at Munich Technical University, Chairman of the PEREP Analytics Governing Body

Panellists:
Mirela Ene - Presentation (882kb, PDF), Head of Research, EVCA
Dan Magirescu, Statistics Manager, PEREP Analytics

 
Networking and Refreshment Break

 
Afternoon 'Breakout' Focus III

Parallel Session 1 - Distressed Funds & Special Situations

Moderator: Cem Meric, Principal, LGT Capital Partners Ltd

Panellists:
Silvio Castelletti, Partner, I2 Capital Partners SGR SpA
Patrick Kalverboer, Partner, H2 Equity Partners B.V.
Ernst Ludes, Partner, EQT Partners
Jan Zarzycki, Director, Deutsche Bank

Parallel Session 2 - Fundraising for Venture Capital Funds – a Tale of two Worlds?

• In current market conditions, which funds can raise money and why?
• Where are we in the cycle?
• Family offices: ahead of the curve?
• What is most important: stage or geography or industry sector?
• Which are the developing trends?

Moderator: Christian Schneider - Presentation (129kb, PDF), Managing Partner, FiveLakes Venture Partners

Panellists:
André Jaeggi, Managing Director, Adveq Management AG
Dominique Peninon, Managing Partner, Access Capital Partners S.A.
Bernhard Schirmers, General Manager, SHS Gesellschaft für Beteiligungsmanagement mbH
Angela Willetts, Investment Manager, Capital Dynamics Ltd

Parallel Session 3 - Global Dynamics - Global Scenarios for Private Equity and Venture Capital

• De-globalization and growth of world population
• Long-term tech trends & needs
• The ethics of investing
• Managerial economics, strategy and innovation

Moderator: Joerg Kreisel, CEO, JKIC

Panellists:
Herman Daems - Presentation (142kb, PDF), Chairman, GIMV NV
Juan Garin, Deputy Director of Consulting, Oxford Analytica Ltd
Frank Salzgeber, Head of Technology Transfer Programme Office, European Space Agency
Rolf Wickenkamp - Presentation (69kb, PDF), Founder and Executive Partner, CAM Private Equity Consulting & Verwaltungs-GmbH

 
Cocktail and Gala Dinner

Held at the 'Las Ventas' Madrid Bullring.

 
Networking Coffee

 
Welcome Address by the New Chairman