KR2251 SI COV 2010:0 19/8/10 12:31 Page 1

attended200+ in LPs2009

Europe’s Foremost Plus Book by 3 September

Fundraising & Private Equity, Venture Capital SAVE up to Secondaries Summits & LP/GP Relationship Summit £700 "As a point of “ "SuperInvestor is one of the 10th Annual communication few events I appreciate between“ GPs and LPs, attending - it's ONE OF MY it's SECOND TO NONE." FAVOURITES."

Rod Selkirk, Managing Partner Wim Borgdorff, Managing Partner, Head of BRIDGEPOINT DEVELOPMENT CAPITAL www.icbi-superinvestor.com Fund Investments, ALPINVEST PARTNERS Why GPs Should Attend Hear from 220+ Speakers Including 90+ Leading LPs Global Economic Insight

BRILLIANT RENOWNED • Meet 200+ LPs in one single ECONOMIST location at one time Roger Bootle Founder & Managing Director, CAPITAL ECONOMICS • Uncover the investment Author plans & expectations of THE TROUBLE WITH MARKETS Stefan Hepp Wim Borgdorff Christophe Bavière Charles Baillie Global Credit Market Guru hundreds of European & Founder & CEO Managing Partner Managing Partner, Global Co-Head global investors SCM STRATEGIC Head of Fund IDINVEST Alternative CAPITAL Investments PARTNERS Investments & WORLD NO.1 CREDIT GURU MANAGEMENT ALPINVEST Manager Selection PARTNERS GOLDMAN SACHS Ed Altman • Enjoy brilliantly facilitated Max L Heine Professor of Finance networking for invaluable NYU STERN SCHOOL OF BUSINESS business opportunties Private Equity & LP/GP Why LPs Should Attend Relations Expert Kathleen Bacon Pierre Fortier Christopher Hunter Urs Wietlisbach • Meet and compare your Managing Director Vice-President, Managing Director Partner & Executive PRIVATE EQUITY AND Partnerships and HARBOURVEST CAMBRIDGE Vice Chairman INSTITUTIONAL INVESTMENT Syndication Private ASSOCIATES PARTNERS GROUP expectations & experience Equity, WORLD GURU with fellow LPs CAISSE DE DÉPÔT Josh Lerner ET PLACEMENT DU Jacob H Schiff Professor of QUÉBEC Investment Banking • Learn the latest on critical HARVARD BUSINESS SCHOOL changes such as global Gather Insights From Brilliant Minds regulation & the economy Insights from 90+ LP Speakers • Uncover new best practice,  The Wellcome Trust  Graphite Capital changes to terms, return  Feri Institutional Management Advisors  Adveq Management expectations & investment  Keyhaven Capital  Parish Capital Advisors opportunities Partners Europe Guy Hands Dominique Sanjay Patel Greg Brenneman  PPM Managers  SVB Capital Chairman & CIO Senequier Head of International Chairman  FHP  Alpinvest Partners The Fundraising Summit TERRA FIRMA CEO Private Equity CCMP CAPITAL  Metlife Investments  HarbourVest Partners AXA PRIVATE APOLLO  Pinebridge Investments  Capvent EQUITY MANAGEMENT  OMERS Capital Partners  Caisse de dépôt et • Learn the investment BRAND  Towers Watson placement du Québec NEW  Unigestion  CDC Group plans of 20+ LPs  Morgan Stanley  Allstate Investments Alternative Investment  Pantheon Ventures • Hear the results of 2 new surveys Partners  Adams Capital Partners   QIC Abbott Capital into LPs' & GPs' fundraising  Alpha Associates Management   Goldman Sachs BMP plans   Northwestern Mutual Arcano Capital John Hahn John Singer Roberto Quarta Jon Moulton  Capital Danske Private Equity Managing Director & Chairman Chairman Europe & Chairman  • Benefit from a masterclass in Head of European ADVENT Operating Partner BETTER CAPITAL  Darby Overseas Auda Investment Investment Activities INTERNATIONAL CLAYTON DUBILIER  Clearsight Investments Managers investor relations  PROVIDENCE EUROPE & RICE  Askar Capital Commenda EQUITY PARTNERS   National Pension Wilshire Private The Secondaries Summit Reserve Fund Markets Group  Drum Capital  Credit Suisse Private Back by  Alliance Trust Equity Equity Hear from all the market popular Partners  British Airways Pension demand  Adams Capital Partners leaders on this hot sector Investment Management  USS  Fondinvest Capital including: Coller Capital, Alpinvest  Idinvest Partners  SCM Strategic Capital Partners, HarbourVest Partners,  GE Asset Management Management   Caisse des dépôts et Pantheon Ventures & PEFOX Jeremy Coller Michael Queen Nikos Stathopoulos Richard Wilson Access Capital Partners  consignations CIO Chief Executive Managing Partner Senior Partner Hamilton Lane  BAML Capital Access  COLLER CAPITAL 3I GROUP BC PARTNERS APAX PARTNERS SL Capital Partners Funds Chair  Sponsored by BP Pension Fund  Akina Partners EVCA  The Investment Fund For  Quilvest Private Equity Foundations  PCGI  Westin Hotel, Paris DB Private Equity  The Kaiser Family Principal European Law Co-Sponsors:  Fundraising Summit: Cambridge Associates Foundation  16 November 2010 Firm Sponsor CPP Investment Board  European Investment  Secondaries Summit: Rho Fund Investors Fund  16 November 2010 Capital Dynamics  Jade Invest  Main Conference: Associate Sponsors: Altius Associates  AXA Private Equity  17-19 November 2010 Squadron Capital  LGT Capital Partners www.icbi-superinvestor.com Partners  Hermes Fund Managers  Axiom Asia  Alpinvest Partners Organised by:  Skandia Life   SWIP Advanced Capital Group  ATP Private Equity Partners KR2251 Sinvestor 2010:SuperInvestor 08 19/8/10 12:32 Page 2

16 November 2010 The Fundraising Summit

09.20 Coffee & Registration 12.35 16.50 09.50 Quick Fire Showcase – Do You Have Fundraising Talent? FUNDRAISING MASTERCLASS This is your opportunity to showcase the unique and compelling features of Analysing Issues And Overcoming Challenges To Secure Opening Remarks From The Chair your own fund, in just 90 seconds. Can you present your fund in a Guy Fraser-Sampson, Author, PRIVATE EQUITY AS AN compelling, yet light-hearted way, using no statistics or numbers, to an Capital In Today’s Market ASSET CLASS & A MULTI-ASSET CLASS audience of LPs and potential investors? And how will you be judged by your Blackberry Q&A with Moderator: Paul Denning, CEO, DENNING & CO INVESTMENT STRATEGY peers and a presentations expert? Those wishing to take part should register Paul founded Denning & Co. in 2001 and has been involved in the Guy Fraser-Sampson has over twenty years’ experience of the Private and apply quickly as places are awarded on a first-come first-served basis. investment banking industry for 35 years, having served 7 years pro-bono Equity industry, including as Investment Controller with the Abu Dhabi Led by Presentations Expert: as Commissioner of the San Francisco Employees’ Retirement System. He Investment Authority and subsequently as a Managing Director with Benjamin Ball, Director, BENJAMIN BALL ASSOCIATES has published several industry publications including: “How to Sell Horsley Bridge Partners. He has since gained equal prominence as an academic, Restricted Securities, a Guide to Rule 144” and “Stock Distribution, a teaching students at Cass Business School. Benjamin Ball spends his time helping management teams win pitches and communicate effectively in investor presentations. Recently he has run sessions Guide for Venture Capitalists”. for senior management at Coller Capital, Linklaters, BNP Paribas, & Doughty 09.55 Hanson amongst others. He has helped them with speeches, presentation Laurent de Rosière, Investor Relations Partner performance and pitch winning workshops. Previously, Ben ran the training BC PARTNERS business of Bladonmore; was a corporate financier at Durlacher and the director of strategy at Laurent de Rosière is a Partner based in London who joined BC Partners in LAUNCH OF NEW SURVEY DATA Cable and Wireless. November 2009 from Citigroup where he spent four years, most recently as Director in the Citi Alternatives Distribution Group, focusing on investor Quantifying The Scale And Scope Of The Fundraising relationships in Europe. Previous positions include: principal at Acanthus Deluge – Analysing The Volume Of Capital And Number Of 13.00 Lunch Advisers and Assistant Vice President in the Alternative Investments Group at LCF Rothschild. Funds Coming To Market in 2011-2013 14.30 Annette Wilson, Managing Director Investor Relations Simon Thornton, Managing Director, PEARONLINE PALAMON CAPITAL PARTNERS Simon founded PEARonline in 2005 to provide private equity GPs and Annette Wilson joined Palamon Capital Partners in 1999 as the Firm’s placement agents with a solution to web-based communication with LPs LP STRATEGY Founding Chief Financial Officer. Today she serves as Managing Director of for fundraising and fund reporting. From 1999 to 2004, Simon headed Assessing The Fundraising Environment – What Are The Investor Relations and Marketing. Mrs Wilson has extensive general and Landmark Partners’ European operations, and was responsible for investor financial management experience built up over her 25 year corporate relations and fundraising in Europe and the Middle East as well as sourcing Most Attractive Areas For LPs Over The Next 24 Months business career. Mrs Wilson is a member of the Investor Relations European acquisition opportunities. And Why? Committee of the British Venture Capital Association. 10.15 Moderator: Mark O’Hare, Julian Knott, Partner & Head Investor Relations, Founder & Managing Director, PREQIN COGNETAS Preqin is the alternative assets information service, which provides Julian joined Cognetas as an investment professional in 1987 and is now LAUNCH OF NEW SURVEY DATA extensive research and data on the global alternative assets industry, responsible for Investor Relations. Previously Julian had a ten year career in covering private equity, private real estate, infrastructure and hedge funds. banking ending up as a Vice President in the leverage buy-out group at What Does The Past Year Show About LPs’ Key Concerns, Preqin has 63 staff based in London and New York, providing market- Citibank. Julian is a member of the Investor Relations Committee of the Overall Fundraising And The Distribution Of Funds leading online and hard copy data services to many of the world’s leading British Venture Capital Association. Between Mega Buy Outs And Others? institutional investors, money managers and advisors. Preqin tracks fund returns, fund raising information, fund terms and conditions, profiles of the GPs running the funds, and Mads Ryum Larsen, Partner, IK INVESTMENT PARTNERS Kelly Deponte, Partner, PROBITAS PARTNERS the LPs investing in them. Before Preqin, Mark’s initial career was as a Manager with Mads Ryum Larsen is a member of the Executive Committee and the Kelly has 29 years of industry experience and is responsible for Probitas Boston Consulting Group. Head of Investor Relations at IK Investment Partners. He is a member of Partners' research. Prior to joining Probitas Partners, Kelly was Chief the board of Directors of Superfos. IK Investment Partners (formerly known Operating Officer and Managing Director at Pacific Corporate Group (“PCG”), Ralph Günther, Managing Partner, BMP as Industri Kapital) is a European private equity firm with Nordic roots, a leading provider of alternative investment advisory, management and Ralph Günther is serving as the Head of Private Equity Advisory and Fund- managing €5.7 billion in fund commitments. consulting services. Kelly oversaw the partnership investment program, which of-Funds Management at bmp AG in Berlin. Since 1999 Ralph has also been comprised more than $20 billion in capital dedicated globally to private equity. serving as member of the Executive Board of bmp AG. Bmp structures and manages private equity investment programmes for institutional investors. 17.25 10.35 Ignacio Sarría, Partner & CEO, ARCANO CAPITAL FUTURE SOURCES OF CAPITAL Will There Be Sufficient Liquidity For LPs To Invest In The From 2002 to 2005 Ignacio Sarría served as Head of the M&A department Where Is Investment Money Going To Come From In for Spain at Deutsche Bank. Before that, between 1996 and 2002 he worked Next Generation Of Funds? Examining Investors’ Capacity in the M&A department of Bankers Trust in Madrid and London. During his Future And How Will The Demands Of These New LPs Be To Supply Capital Given A Lack Of Distributions investment banking career, he specialised in structuring buyout deals Met? Overcoming The Challenge Of Successfully Finding Moderator: Guy Fraser-Sampson, Author, involving top-tier private equity funds. Long-Term Sources Of Renewable Capital PRIVATE EQUITY AS AN ASSET CLASS & A MULTI-ASSET CLASS Christen Estrup, Director Moderator: Mounir Guen, CEO, MVISION INVESTMENT STRATEGY Mounir Guen founded MVision in 2001. He is a veteran fundraising specialist, NORDEA ALTERNATIVE INVESTMENTS advisor and manager with 22 years of experience in the industry and has led Mr Estrup has been working for Nordea since early 2008 responsible for the development of MVision to the point where it is now the world’s leading Kelly Deponte, Partner, PROBITAS PARTNERS Nordea's Private Equity Fund of Funds programmes - part of Nordea Alternative For biography please see above. independent international private equity placement agent. Mounir has been Investments. Mr Estrup has 10 years’ experience within private equity and selected as one of the top 50 most influential personalities in Private Equity previously worked as Investment Director for Vaekstfonden, a Danish in Europe, and currently chairs the EVCA Placement Task Force as well as Simon Thornton, Managing Director, PEARONLINE government sponsored investment company, where he built the private equity fund For biography please see above. serving on the EVCA Investor Relations Committee and on the EVCJ Editorial Board. He programme. also served on the EVCA European Valuation Committee to establish policy currently in use. Lionel Bergeron, Principal, QUILVEST PRIVATE EQUITY Rainer Ender, Managing Director, ADVEQ MANAGEMENT He also lectures for the MBA Masterclass in Private Equity at the London Business School. Lionel has 11 years of private equity experience combining direct and fund investments. Before joining Adveq in 2001, Rainer was an underwriter for alternative risk Arnaud Lipkowicz, Partner, CREDIT SUISSE PRIVATE EQUITY Listed on the Luxembourg Stock Exchange, Quilvest is a global institution with more than transfer at Zurich Reinsurance Company. From 1997 to 2000 he was a $10 billion of assets under management with wealth management and private equity Arnaud Lipkowicz is a Partner in the London office of the Customized Fund Investment Group, manager in the Financial Risk Management Practice at Arthur Andersen. In Credit Suisse's private equity fund of funds' and separate accounts' manager with businesses. It is a global private equity investor active in both private equity funds and addition, Rainer served for several years on the Board of DTS, a regulated private companies in the Americas, Europe and Asia. approximately $25 billion in assets under management. Previously, Arnaud was a Vice derivatives trader in Switzerland. President - Director of Investments for the LCF Rothschild Group in London where he co- Christopher Bödtker, Managing Partner, AKINA PARTNERS founded and developed a European third-party Private Equity business. Christopher Bödtker founded Akina Partners in 1998, a firm which invests primarily in the 15.10 European middle market. Based in Zurich, Akina Ltd. became fully independent when a Robert Tomei, CEO & Founder management-led buyout was completed in May 2010. Previously, Akina was LODH Who Is Investing And Who Is Not? Understanding Which ADVANCED CAPITAL GROUP Private Equity and was a member of the Lombard Odier Group. LPs Have Money To Spend, And Changes To Their Robert Tomei is responsible for the approval of every Group investment, for Investment Strategies And Criteria evaluation and investments in venture capital, private equity, secondary and 11.00 Morning Coffee debt strategy partnerships. Some of his investments include partnerships such Uwe Fleischhauer, Managing Partner as NEA, ACCEL, Blackstone, BC Partners, Whitney, Summit, TPG, Bain, Cerberus and Matlin Patterson. Mr Tomei is a member of the CFA Institute and 11.35 FLEISCHHAUER, HOYER & PARTNER Since it’s founding in 1996, Fleischhauer, Hoyer & Partner Private Equity of the AIFI institutional investor board, he is also Chairman of the Investment Committee of Consultants (FHP) has been processing exclusively advisory and consulting the Peggy Guggenheim Foundation and member of the Young Presidents' Organization. Where Do Institutions Wish To Be In 2012/2013 In Terms Of projects around the private equity asset class as well as infrastructure and real Their Allocation Target And How Does This Compare To estate private equity. Moreover, FHP is one of Germany’s most respected Rob Barr, Partner, PANTHEON VENTURES independent research bodies and publishes on a regular basis market surveys Rob Barr joined Pantheon Ventures in 2005 and has 9 years of private Their Current Position? and studies on current topics in private equity. Uwe Fleischhauer advises institutional equity experience. Rob directs business development and client service Gail Guerin, Partner, GUERIN ASSOCIATES investors and corporate clients on their asset allocation and investment strategy. activities in Europe and the Middle East. Before joining Pantheon, Rob Gail Guerin is a marketing and fundraising specialist, the founder of Guerin Associates, and spent six years at Deutsche Asset Management, latterly as a Director of the co-founder of Talamore Group. Ms Guerin created both firms to capitalise on her years of Client Relations. Prior to this, he spent four years working in private equity experience positioning and marketing private equity strategies globally. Previously, she was a 15.30 for Morgan Grenfell Development Capital. Senior Partner and Director of Marketing and Investor Relations for Baring Private Equity Partners, London. GP STRATEGY 17.55 What Should GPs Be Doing Now To Appeal To Investors? 11.55 What Are LPs Really Looking For And How Can GPs FUNDRAISING WINNERS & LOSERS Differentiate Themselves? Who Will Win The Fundraising Game When The Floodgates END INVESTORS’ PLANS Open? Which Funds Will Be Oversubscribed And Which To What Extent Will LPs Stop Re-Upping With Their Moderator: Armando D'Amico, Managing Partner ACANTHUS Will Not Get Raised? Existing GPs? How Will LPs Refresh Their Portfolio And Acanthus Advisers is an independent private equity advisory firm providing Moderator: Juan Delgado-Moreira, Managing Director Reduce The Number Of GP Relationships? fund placement and corporate finance advisory services. Armando has more HAMILTON LANE Moderator: Michael Russell, Partner & Head of than 25 years' experience in private equity, banking and strategy consulting. Juan works on Hamilton Lane’s Investment Team based in the London office, Since establishing Acanthus in 1998, Armando has advised general partners, where he oversees European operations and is responsible for due diligence of Europe/EMEA, ALTIUS ASSOCIATES limited partners and financial institutions from across Europe. Altius advises and manages approximately €14 billion in the asset class investment opportunities in Europe. Prior to joining Hamilton Lane, Juan was an through fund-of-funds vehicles as well as separate account portfolios for large Jesper Knutsson, Senior Investment Manager investment associate at Baring Private Equity Partners. Previously, Juan held institutional investors. Michael Russell is a senior partner with overall senior research positions at institutions such as the University of Essex and was responsibility for investments and operations in the EMEA region. He has 17 DANSKE PRIVATE EQUITY a lecturer and Fulbright Scholar at Stanford University. years of private equity experience involving more than 25 separate account portfolios in Jesper is Senior Investment Manager at Danske Private Equity, which he joined Europe, the US and Australia. Michael serves as a member of the Professional Standards in 2006. Jesper has been involved in the due diligence on several funds in Laurent de Rosière, Investor Relations Partner, BC PARTNERS Committee of the EVCA (European Private Equity and Venture Capital Association) and, more Danske PEP III and Danske PEP IV, as well as being responsible for fundraising. For biography please see above. recently, as Chairman of the EVCA's Investor Relations Committee. He has 18 years of experience in private equity and investment banking. Paul Bekx, Partner & Managing Director David Lindstrom, Managing Director Philippe Roesch GILDE BUY OUT PARTNERS METLIFE INVESTMENTS Managing Director, Head of Private Equity Europe Paul Bekx came to Gilde early 2000, establishing their Paris office with a Based in London, David Lindstrom leads MetLife’s non-US private equity AUDA INVESTMENT MANAGERS primary focus on France and Belgium. He was heavily involved in the activities and European below investment grade fixed income investment Philippe Roesch is Head of Auda’s European private equity investment fundraising for successive Gilde Buy-Out Funds on behalf of the activities. He initially joined MetLife’s US private equity investment unit in activities, based in Bad Homburg / Frankfurt. He has 18 years of partnership, and has led or co-led various Gilde deals including Novasep, 1996. In 1998, he moved to London and joined MetLife Investment international fund-of funds and direct investment experience. Prior to Arovit, Betafence, Plastal and Armacell. Before that and from 1995, Paul Limited, the UK investment advisor to MetLife. joining Auda, he was Head of Private Equity at Harald Quandt Holding, where he was was a partner and investment director with HSBC Private Equity (now Montagu). responsible for the family’s global portfolio of private equity funds investments. He Raymond Abbott, Managing Director started his career in fund-of-funds investing in the mid-1990s as a Senior Investment Gordon Hargraves, Partner, RHO FUND INVESTORS Manager with Deutsche Beteiligungs-AG. Gordon Hargraves has been actively investing in private equity since 1993. He ALLIANCE TRUST EQUITY PARTNERS has overall responsibility for Rho Fund Investors’ ("RFI") activities. Since 1981, Raymond Abbott is Head of Private Equity for Alliance Trust. Raymond moved Rune Jepsen, Investment Manager, Global Private Equity RFI has successfully committed to, and realised substantial returns from over into private equity in 1991 with Friends, Ivory & Sime. After building up a 170 venture capital and specialised growth buyout funds worldwide. Prior to portfolio of venture investments with British Linen Bank in 1999 he then QIC Rune joined QIC in May 2006. Before that, from 2001 to 2006, Rune was joining Rho in 1999, Gordon was responsible for developing and managing the founded Albany Venture Managers in 2000. Alliance Trust acquired Albany private equity programme at the National Bank of Kuwait in New York. Ventures in 2006 and Raymond is now implementing a long term private equity investment part of the investment team at Danske Private Equity, a private equity program for the Trust. focussed fund-of-funds based in Copenhagen, Denmark. Danske Private Equity manages EUR 1.7bn on behalf of mostly Nordic institutions, which Catherine Lewis La Torre, Partner, FONDINVEST CAPITAL Fondinvest Capital is a leading European primary and secondary fund of Mark Boyle, Director Private Equity Funds it invests through commitments to private equity funds in both North € America and Western Europe. funds with 2 billion under management. Prior to Fondinvest, Catherine NORTHWESTERN MUTUAL CAPITAL was one of the founders of Proventure, a fund of funds specialised in Mark C. Boyle, CFA, is a Vice President of Northwestern Mutual Capital Ltd Craig Donaldson, Partner, HGCAPITAL European mid-market investments. Before that, she worked in Italy as an and has been located in the company’s London offices since early 2007. investment director for ABN AMRO Capital Investments and Sofipa. Northwestern Mutual Capital Ltd is a subsidiary of US based Northwestern Craig Donaldson leads the client services team. He sits on the firm’s Mutual Life Insurance, with over $145 billion in assets. Mr Boyle has been Executive Committee, Portfolio Review Committee and Valuation Committee. Craig has over 20 years’ experience in advising institutional Mounir Guen, CEO, MVISION involved in Northwestern Mutual’s investment business for 30 years and is a For biography, please see above. member of Northwestern Mutual’s private debt and equity group where he focuses on investors on alternative asset management strategies. private equity and mezzanine investments. Gurjeet Grewal, Investment Manager 18.45 Summit Drinks Reception - Open to Summit attendees only Anselm Adams, Chair, ADAMS CAPITAL PARTNERS THE WELLCOME TRUST Anselm is the Managing Director of family office Adams Capital Partners, a Gurjeet Grewal focuses on private equity, non directional hedge funds and member of ILPA, and advisor through Private Equity Capital Advisers Limited credit. Gurjeet also structured the Trust's bond issue in 2009 and has worked on 19.30 of a fund managing over US$ 100 M in private equity assets: fund-of-funds, co-investments made into global education. Gurjeet joined the Trust three years funds and direct investments. He has more than 18 years’ experience in ago from Credit Suisse where he worked in leveraged finance origination. Pre-conference End Investor-only Dinner private equity, venture capital and investment banking. Anselm has worked at Schroders, Merrill Lynch and Goldman Sachs. 16.20 Afternoon Refreshments Verification and registration are required for those wishing to attend the End-Investor Only Dinner. Please apply to Laura Griffin on [email protected].

2 W www.icbi-superinvestor.com • T +44 (0)207 017 7200 • F +44 (0)20 7017 7807 • E [email protected] KR2251 Sinvestor 2010:SuperInvestor 08 19/8/10 12:32 Page 3

16 November 2010 The Secondaries Summit

09.20 Coffee & Registration Pål Ristvedt, Partner Mike Custar LEXINGTON PARTNERS Managing Director 09.50 Pål Ristvedt is based in Lexington Partners’ London office where he is CREDIT SUISSE responsible for Lexington’s secondary activities outside the United States Mike Custar is a Managing Director of Credit Suisse in the Asset Opening Remarks From The Chair and leading a team focused on the sourcing, valuation and negotiation of Management division, based in New York. He is responsible for leading Brenlen Jinkens, Managing Director secondary purchases of non-US buyout, venture and mezzanine private Credit Suisse's secondary advisory business, where he advises both COGENT PARTNERS EUROPE equity partnerships. private equity and hedge fund investors in selling limited partnership Brenlen Jinkens is Managing Director of the firm’s London office and is interests, fund shares and direct equity investments in the secondary market. Mr Custar responsible for Cogent’s European strategy and business development. He 11.40 Morning Coffee joined Credit Suisse in May 2004 from PricewaterhouseCoopers (PwC), where he was a is also the Head of Research, Cogent’s fund monitoring and due diligence Director in PwC's Transaction Services team, leading both financial and operational due arm. Prior to joining the firm, Mr Jinkens was an Executive Director of 12.05 diligence for private equity clients. Lehman Brothers Europe, where he covered financial services technology businesses in the UK, Germany and Scandinavia. Mr Jinkens also started an online 15.45 Afternoon Refreshments financial services business, and worked for five years in the financial services practice of A DERIVATIVES EXCHANGE McKinsey & Company in Paris and London. He has nearly 20 years of experience advising financial services companies and other entities. The Future Of A Derivatives Exchange And Its Impact – 16.15 Assessing The Transaction Volume Of This New Trading 09.55 Platform And How Will It Develop? DIRECTS Kishore Kansal, Managing Partner, PEFOX The London Private Equity Futures and Options Exchange (“PEFOX”) is a Exploiting The Complicated Dynamics Of Directs And State Of The Union Address pioneering marketplace that offers its members the ability to negotiate and Tail-Ends And How Fast This Market Will Grow What Happened To The Wall Of Secondaries? Reviewing enter into derivatives on private equity fund interests. Investors are able to Moderator: The Critical Economy And Currency Issues Impacting The utilise derivatives as portfolio management tools to actively shape and rebalance their exposure to private equity. Kishore was employed Thomas Liaudet, Principal Secondaries Market, A Market Awash With Funds, And The previously as key member of the fund placement team of Campbell CAMPBELL LUTYENS Deals Done In 2010 Lutyens where he was responsible for GP and LP coverage. Thomas is a senior member of Campbell Lutyens’ secondary advisory team. With over 11 years’ experience in the private equity and venture Mark O’Hare, Managing Director, PREQIN capital markets, he has acted on behalf of a number of clients such as 3i For biography, please see page 2. 12.25 (LSE:III), Innovacom Gestion, General Electric (NYSE:GE), Access Capital Partners, DFJ End Investors Esprit, TeliaSonera (STO:TLSN) and AEA Technology (LSE:AAT) for the sale and financing 10.20 LPS’ APPETITE of private equity portfolios. Understanding The Appetite For LPs Currently Investing In Andrew Hawkins, Managing Partner MARKET DYNAMICS VISION CAPITAL How Core Is Private Equity To Banks And Other Financial Secondaries – To What Extent And How Will They Continue Vision Capital is an investment firm that mainly buys portfolios of Institutions And To What Extent Will These Assets Flow To Invest, And What Can Providers Do To Help? companies from private equity firms, financial institutions and corporations. Moderator: The firm pioneered portfolio acquisitions and continues to search for new Onto The Secondaries Market? Analysing The Current Michael Murphy, Managing Director ways to realise the strategic objectives of vendor’s management teams Dynamics Of The Secondaries Market - Supply, Demand CREDIT SUISSE and investors. In February 2009, Vision Capital announced the final closing Michael Murphy works in the Private Fund Group, based in London. He joined Credit of Vision Capital Partners VII LP (“VCP VII” or “the Fund”) at €680 million, almost double And Pricing Suisse First Boston in November 2000 when the firm merged with Donaldson, Lufkin & the size of its last fund which closed in 2006. Moderator: Wouter Moerel, Partner Jenrette where he was an Associate in DLJ's Private Fund Group. He joined DLJ from the Chart Group LP. Prior to that, he worked at Salomon Smith Barney in Healthcare Ken Sawyer ALPINVEST PARTNERS Investment Banking. Wouter Moerel heads AlpInvest Partners' European Secondaries Managing Director investment team. Prior to AlpInvest, Mr Moerel worked as a Principal John MacLean, Partner, ALTIUS ASSOCIATES SAINTS CAPITAL within the European buy-out fund of The Carlyle Group out of its London Part of the Investment Team, John MacLean is extensively involved in Ken Sawyer is founder of Saints, the largest global direct secondary firm in office, focusing on investments in the telecom & media sector. reviewing investment opportunities in Europe and South Africa relating to the world. Saints, founded in 2000, focused on providing liquidity for Previously, Mr Moerel worked in corporate finance divisions of JP buyout strategies, venture capital, secondaries and co-investments. He is investors and founders of private companies and has acquired investments Morgan Chase and Lehman Brothers in London. responsible for investment relationships with numerous general partners in in over 200 companies. Today, Saints manages over one billion dollars Europe and serves on Altius’ Investment Selection Committee. He joined which has been invested in companies in the technology, healthcare, consumer and Mark Burch, Managing Partner, ARCIS CAPITAL Altius in 2001, and has 9 years of private equity experience. industrial industries. Mr Sawyer has been selected as a member of the Forbes Midas list Mark Burch is the London based Managing Partner of ARCIS Group. Prior for the past few years, where he was recognised as one of the top 100 investors in to working with ARCIS, Mark was at ING Barings first in Investment Simon Moss, Principal, HERMES PRIVATE EQUITY venture capital globally. Banking, where between 1998 and 1999 he was Head of the European Simon is responsible for all manager relationships in Europe and for coordinating the Corporate Finance Group, and then subsequently as Head of a newly analysis, due diligence and monitoring of all European investments. His previous David Porter established Private Equity Group until 2001. He first joined Barings in 1988 experience includes KPMG Consulting and ACE Insurance. from Kleinwort Benson where he was a corporate financier from 1983 Managing Partner onwards. Founded in 1993 ARCIS Group advises €750 million of funds invested Malcolm B Nicholls III, Partner, PROSKAUER APPOSITE CAPITAL exclusively in private equity secondaries. Malcolm B. Nicholls III is a Partner in the Private Investment Funds Group David Porter has over 30 years' experience in private equity and investment at Proskauer resident in the Boston office. He has over ten years of banking. Apposite Capital LLP is an investment firm exclusively focused on Oliver Gardey, Partner, POMONA CAPITAL experience in the private equity field, with a focus on national and healthcare. Apposite invests globally in private companies involved in life Oliver joined Pomona Capital in 2009 and heads Pomona’s European international private equity transactions. Malcolm advises private equity sciences and healthcare services on a primary basis, as well as acquiring operations. He has 15 years of private equity experience. Prior to joining fund managers, institutional investors and investment advisors on a broad and managing direct Healthcare assets in the secondary market. Prior to co-founding Pomona, Oliver was a Partner at Adams Street Partners responsible for the range of issues, including fund formations, secondary transactions, Apposite in 2006, David worked on a number of large LBOs at Nomura's Principal European secondaries business and business development. He gained portfolio investments, internal governance and divestments and Finance Group. extensive private equity experience at NM Rothschild, JH Whitney and distributions. Smedvig Capital. Oliver managed and led the buyout of ISE, a leading manufacturer in the aircraft interior equipment sector. Geoffrey Geiger, Portfolio Manager, USS Geoffrey Geiger joined the USS in 2007 as a senior member of the private 16.50 Valérie Handal, Vice President equity team with a focus on developing the private equity co-investment HARBOURVEST PARTNERS programme. He focuses on sourcing, evaluating and monitoring co- Valérie Handal joined HarbourVest’s London-based subsidiary in 2006 and investment opportunities for USS and also assists the private equity team FUTURE DEALS focuses on originating and executing secondary investments, primarily in with manager selection and due diligence. In his role at USS, Geoffrey sits Future Deals In 2011- 2014: What New Developments Europe. Valérie has led a range of European secondary transactions and on a number of advisory boards for private equity funds. Geoffrey has been Should The Market Expect? currently serves on the advisory boards of several funds, including those working in private equity for over ten years. Prior to USS, Geoffrey was managed by Encore Ventures, Forbion Capital Partners, and RBS Asset with Klesch & Co in London for six years, where he worked on a number of buyout and Moderator: Management. Valérie joined the Firm from Merrill Lynch’s Private Equity Group in turnaround private equity transactions. Brenlen Jinkens London, where she served as a vice president. Managing Director Mathieu Dréan, Managing Partner, TRIAGO COGENT PARTNERS EUROPE Greg Holden, Partner, ADAMS STREET PARTNERS Mathieu Dréan joined Triago in 1998. Since its creation, Mathieu has been For biography please see above. Greg is a Partner who primarily specialises in the sourcing and execution of leading the operations of Triago's dedicated secondary team. Mathieu has secondary investments. He actively participates in all fund investment over 10 years of industry experience, as a global fundraising professional Charles Smith decisions at Adams Street. Prior to joining Adams Street Partners, Greg was and secondary transactions specialist. Prior to joining Triago, Mathieu was a with Coller Capital where he worked as a secondary investment manager Sales Manager in a trading company. Mathieu holds an MBA from the Managing Director responsible for the analysis, due diligence, negotiation and execution of ESSEC Business School. DB PRIVATE EQUITY secondary transactions of both limited partner fund positions and direct Based in London, Charles Smith is responsible for the investing and asset portfolios. Previously, he worked with Donaldson, Lufkin & Jenrette distribution activities of the Secondary Opportunities Funds. Charles and Credit Suisse First Boston in New York as a corporate finance associate. Greg is a 13.05 Lunch established the DB Secondary Team in 2006 having previously been the Certified Public Accountant and a member of the Adams Street Partners Secondary Head of UK Corporate Investments responsible for the restructuring of the Partnership Sub-Committee. Bank’s €6 billion proprietary private equity portfolio in the UK and US. From 1992 to 2003, Charles worked in mergers and acquisitions at Bankers Trust and Deutsche Bank in 11.0 0 Afternoon Chair London and New York, completing more than 30 transactions with an aggregate deal Marleen Groen, CEO value in excess of $15 billion across a wide range of industry sectors and geographies. Most recently he was Co-head of the Technology Media and Telecoms practice area GREENPARK CAPITAL within the M&A Group. PRICING Out of her nearly 25 years in the financial services industry, Marleen has Pricing In The Secondaries Market And The Discounts To spent close to 15 years in the global private equity secondaries market. Joe Topley NAV – Where Did This End Up In 2010 And Where Is It Since the mid-90s, she has been at the forefront of secondary investing in Europe where she has played a major role in pioneering innovative, highly Managing Director Going In 2011 And 2012? successful secondary transactions particularly in the mid-market. To date, PARISH CAPITAL ADVISORS EUROPE Moderator: Nigel Dawn, Managing Director Marleen has been responsible for well over $1.5bn of secondaries investments. In 2000 Joe Topley leads the firm’s secondaries investment programme. Before UBS INVESTMENT BANK Marleen founded Greenpark Capital, a leading global mid-market private equity joining Parish Capital, Mr Topley established and ran the secondaries Nigel Dawn is Global Co-Head of the Private Funds Group in New York. He secondaries investment firm based in London. investment programme for Nomura, based in London. Prior to that, Mr heads up the secondary market advisory team having established the Topley was a partner at Greenpark Capital, a secondaries firm based in secondary market advisory team in 2004 and has advised on over $15 14.30 London, where he led over 30 transactions of different types in a variety of markets. billion of secondary transactions. Clients have included leading US public Before joining Greenpark, Mr Topley worked as a telecoms investment banker for Credit investors, university endowments, banks, insurance companies, hedge Suisse, as a management consultant for the Coba Group and as a strategic planning funds and leading private equity general partners. He joined the firm in 1997 within the REGULATION analyst for Sega, the Japanese videogames company. fixed income area before taking responsibility for making direct equity investments to Examining the Critical US And European Regulatory And support the strategic aims of UBS Investment Bank business areas as part of the e- Francesco di Valmarana commerce function. Most recently, he was head of UBS Investment Bank’s third-party Tax Changes Impacting The Secondaries Market Going private equity funds team. As part of this role, Nigel structured and executed a $1.3 Forward – Opportunities Or Obstacles? Principal billion joint venture between UBS and HarbourVest Partners, Tresser, L.P., and reduced Nigel van Zyl, Partner PANTHEON VENTURES private equity exposure by selling third-party funds. Francesco di Valmarana joined Pantheon Ventures in 2008 and has 12 years SJ BERWIN of private equity experience. Francesco focuses on European secondary Timothy Jones, Partner & Deputy CIO Nigel van Zyl is a partner in SJ Berwin's international funds team, advising private equity transactions. He was previously with Unigestion, the Swiss fund managers and investors raising and investing in private funds across alternative asset management firm, where he managed the firm’s global COLLER CAPITAL the globe. Nigel also acts for a number of buyers and sellers of secondary Tim has overall responsibility for the firm’s origination activities and is secondaries programme. Prior to Unigestion he was a partner and co-founder of the interests in private funds and advises on bespoke and innovative structures European venture capital firm DN Capital, having spent three years as part of the Deputy CIO. Before joining Coller Capital in 2000, Tim was Global Head of to facilitate secondary transactions. ScotiaMocatta, a division of ScotiaBank, involved in: structured and European investment team at the global private equity firm Advent International. leverage finance, sovereign debt, resource banking and derivatives, with a 14.55 focus on emerging markets. Before this, he was Chief Executive of Pierre-Antoine de Selancy Mocatta Group, a global division of Standard Chartered Bank. He led the Founder sale of the business to ScotiaBank in 1997. Prior to this, Tim spent fifteen years with STRUCTURING Standard Chartered, primarily in Singapore, New York, and London. He is currently on the 17 CAPITAL advisory committees of 3i, ABS Ventures, Deutsche Bank Special Opportunities Fund, Structured Transactions: What New Structured Pierre-Antoine de Selancy has 16 years’ private equity experience, 12 of Deutsche Equity Partners, RBS Special Opportunities Fund, Shell Technology Ventures, Transactions Have We Seen And How Do They Bridge The which have been in the secondary market. Prior to founding 17Capital in Washington & Congress, DFJ Esprit II, Pearl Diver Capital and Euro Atlantis. 2008, he was a partner with AGF Private Equity, where he launched the Gap Between Buyer And Seller? secondary practice and was also in charge of a number of primary Carlo Pirzio-Biroli, Managing Director Andrew Sealey, Managing Partner commitments. His previous experience includes Fondinvest Capital in Paris, Coller Capital in London, and Paribas Affaires Industrielles in Paris and Hong Kong. 17Capital is the first DB PRIVATE EQUITY CAMPBELL LUTYENS dedicated provider of mezzanine financing to limited partners and funds in private equity. Based in London, Carlo Pirzio-Biroli is a Managing Director at DB Private Andrew joined Campbell Lutyens in 1990 and became the Managing Equity responsible for the investing and distribution activities of the Partner in 2003. He also leads the firm’s financial advisory activities Secondary Opportunities Funds. Carlo co-founded the DB Secondary Team which focus on secondary transactions and fund restructurings. in 2006 after participating in a senior role in the €6 billion restructuring of Previously he was responsible for developing the firm’s activities in 17.30 Summit Drinks Reception - Open to Summit attendees only DB’s proprietary private equity portfolio in 2002-06. Prior to joining fund placement. Deutsche Bank, Carlo was the CEO of CDB Web Tech SpA, a €400 million publicly listed 19.30 venture fund of funds; lead cross-business operational improvement projects as an 15.20 Executive in Corporate Initiatives at General Electric Corp. in Fairfield (CT); and advised Fortune 500 clients as consultant at The Boston Consulting Group in New York. Pre-conference End Investor-only Dinner COMPETITION Verification and registration are required for those wishing to attend the Gabriel Möllerberg, Executive Director Competition In The Secondaries Market – Are Holiday End-Investor Only Dinner. Please apply to Laura Griffin on GOLDMAN SACHS [email protected]. Gabriel Möllerberg is an Executive Director in the Alternative Investments Shoppers Here To Stay, What Is The Role Of Fund Of Funds & Manager Selection (AIMS) Group, based in London, where he is a Relative To Primary And Secondary Investors And How Do member of the investment team for the Private Equity Group focusing on You Best Differentiate Yourself For Successful Fundraising secondary investment opportunities in Europe. Prior to joining the Private Equity Group, Mr Möllerberg worked in the Investment Banking Division in Next Quarter? London. He joined Goldman Sachs in 2000.

W www.icbi-superinvestor.com • T +44 (0)207 017 7200 • F +44 (0)20 7017 7807 • E [email protected] 3 KR2251 Sinvestor 2010:SuperInvestor 08 31/8/10 17:08 Page 4

Dear Colleague MAIN CONFERENCE - DAY 1 17 November 2010 SuperInvestor’s blue-chip private equity conference is the very best European event for LP/GP 07.50 Registration & Coffee relations and networking. 08.20 Morning Chairman: Jonny Maxwell, Industry Veteran Not only will you benefit from the wisdom and insights of more than 220 leading international speakers in one place at one time, at a crucial time for the industry, but you will enjoy a superlative and CAPITAL OVERHANG unrivalled social agenda - guaranteeing you great business friendships and contacts. What Becomes Of The Capital Overhang? How Much Is Pressure Increasing On 08.30 GPs To Deploy Capital Due To Investment Periods Running Out And What Does This Mean For Deals, Returns And Fundraising? Add to that an understanding from more than 90+ LP speakers of what they are looking for in the Michael Queen, Chief Executive, 3I GROUP coming months and years ahead, and the ability to network with more than 650 of your colleagues, including 200+ LPs, attending. BIG BUY OUTS Is Mid Market The Only Game In Town? How Are Strategies Changing For Big Buy The time and money you save on travel, the meetings you will have and the clarity you will achieve Out Funds Now That The Debt Bubble Has Burst? will put you two steps ahead of your rivals in the challenging months ahead. Moderator: Juan Delgado-Moreira, Managing Director, HAMILTON LANE 08.55 Jörg Rockenhäuser, Head of Germany, PERMIRA Marc St John, Partner & Head of Investor Relations, CVC CAPITAL PARTNERS And don’t forget these fantastic innovations – the Fundraising Summit and the Secondaries John Hahn, Managing Director & Head of European Investment Activities Summit on 16th November, and the Strategy & Practice Stream on 18th. PROVIDENCE EQUITY PARTNERS Nikos Stathopoulos, Managing Partner, BC PARTNERS So take a look at some of the questions, speakers and features assembled, and book your place at The Opportunities And Challenges Of International Private Equity one incredible event. 09.30 Sanjay Patel, Head of International Private Equity, APOLLO MANAGEMENT With best regards Regulation, Fundraising And Fund Challenges In A Recession “Of all the private equity 09.55 Jonathan Blake, Senior Partner & George Pinkham, Senior Partner, Paris, SJ BERWIN Rebecca Hallewell conferences around, SuperInvestor is by far the best one to attend.” 10.20 Morning Coffee Sasha van de Water, Managing Director MID MARKET Conference Director, SuperInvestor 2010 KEYHAVEN CAPITAL PARTNERS Evaluating The Competitive Market Dynamics Of The Mid Market When There Is So www.icbi-superinvestor.com Much Capital – Where Will The Deal Flow Opportunities Arise? 10.50 Moderator: Louis Elson, Managing Partner, PALAMON CAPITAL PARTNERS Nigel McConnell, Managing Partner, COGNETAS John W. Jordan II, Chairman & Managing Principal,THE JORDAN COMPANY The Best And Most Valuable Networking Anywhere Andrea Bonomi, Chairman, INVESTINDUSTRIAL Anthony J. de Nicola, Co-President, WELSH, CARSON, ANDERSON & STOWE Before the Event “My SuperInvestor” is our online e-networker which allows you to upload your own profile for all the GUEST SPEAKER attendees to see, view the list of delegates attending and book meetings. Available two weeks before The Return Of Debt Finance And Leverage – Analysing The Current Conditions the conference, this innovative feature puts you in the driving seat of an agenda packed with meetings 11.20 And Outlook For Global Credit Markets and talks, allowing you to make every minute count. Credit Ed Altman, Max L Heine Professor of Finance STERN SCHOOL OF BUSINESS, NEW YORK UNIVERSITY Two Brilliant Summits – not to be missed – PERFORMANCE The Fundraising Summit features two brand new surveys, 20+ LPs, the Fundraising Masterclass and How Do You Decipher Performance And Measure Success? How Trustworthy Are Valuations And the Quick Fire Showcase for you to present your fund in super-quick time – 16th November. Which Deals Have Worked And Which Classes Of Investments Have Earned More? And after its hugely popular launch, the Secondaries Summit with this red-hot sector’s leading Moderator: Kathleen Bacon, Managing Director, HARBOURVEST companies all together on one focused day - 16th November. 12.00 Neil Harper, Managing Director MORGAN STANLEY ALTERNATIVE INVESTMENT PARTNERS During the Day Raymond Abbott, Managing Director, ALLIANCE TRUST EQUITY PARTNERS Gillian Brown, Head of Private Equity New! Live TalkBack Blackberry Questions BRITISH AIRWAYS PENSION INVESTMENT MANAGEMENT Send your questions in real time directly to the speaker / moderator using your Blackberry. The LP ACTIVISM questions are anonymous giving you the opportunity to put the world’s leading private equity players on LP Activism In Reshaping The Private Equity Market – How Active Have They Been, How the spot with the questions that really matter. Active Should They Be And How Can Investors Work Together To Affect Change? Moderator: Thomas Kubr, Managing Director & CEO, CAPITAL DYNAMICS Quick-Fire Showcase. Hosted by an industry presentations expert, this is your chance to sell your fund 12.35 Wim Borgdorff, Managing Partner Head of Fund Investments to all the other attendees. Taking just a few minutes and with no numbers allowed, you will be able to ALPINVEST PARTNERS bring your fund’s unique selling points to life and create great business openings – it’s been proven! - Dominique Senequier, CEO, AXA PRIVATE EQUITY Managing Director, Head of Europe 16th November Mona ElNaggar, THE INVESTMENT FUND FOR FOUNDATIONS tbc Peter Keehn, Global Head of Private Equity, ALLSTATE INVESTMENTS LP Breakfast hosted by ILPA – to be confirmed - 18th November This is open to pension funds, endowments, sovereign wealth funds and foundations. Please apply to 13.10 Lunch with VIP LUNCH TABLES Laura Griffin on [email protected]. LP Issues Infrastructure, India & Mid Market Chaired by: SJ BERWIN Distressed & Growth VIP hosted lunch tables with INFRASTRUCTURE  Josh Lerner, Jacob H Schiff Professor of Investment Banking, HARVARD BUSINESS SCHOOL - Infrastructure - Mitigating Inflation FUND OF FUNDS DISTRESSED 18th November Worries And Exploiting A Risk Averse Investment With Real Assets And Are Fund Of Funds Becoming Game On: Strategies And  Kathleen Bacon, Managing Director, HARBOURVEST - 17th November Irrelevant As The Market Corrects? Tactics For Redefining 14.40 Annual Cash Flows Moderator: What Is The Business Model For Distressed Investing FIRST STATE Fund Of Funds In A Contracting Q&A with INVESTMENTS Market? BROOKFIELD ASSET  Ed Altman, Max L Heine Professor of Finance, STERN SCHOOL OF BUSINESS - 17th November 3I, CVC CAPITAL PARTNERS FIRST RESERVE CORPORATION SVB CAPITAL MANAGEMENT  Roger Bootle, Founder & Managing Director, CAPITAL ECONOMICS - 18th November PARTNERS GROUP Speed Networking DUE DILIGENCE MID MARKET Changes To Due Diligence – DISTRESSED The speed networkers are divided into LPs and GPs, giving GPs a chance to introduce themselves and How Successfully Will Mid Market Buy- What Are People Doing Differently Analysing The Opportunity In give a summary of their fund. LPs have the chance to evaluate a large number of funds very quickly. Outs Fund Raise? How Will Closing Distressed And Turnarounds Below Target Impact The Nature Of The Compared To Five Years Ago And Pick up 20 business cards in 20 minutes and follow up great business opportunities later - 17th & Business And Its Positioning Within The What Are The Ten Critical Questions Moderator: 18th November 15.15 That Investors Should Ask? Market? Moderator: CLEARSIGHT INVESTMENT Moderator: WILSHIRE PRIVATE ALTIUS ASSOCIATES Champagne Roundtables MARKETS GROUP PORTFOLIO ADVISORS PPM MANAGERS AUDA INVESTMENT MANAGERS MHR FUND MANAGEMENT With more than 30+ tables to choose from, you will be able to take part in different discussions LGT CAPITAL PARTNERS ASKAR CAPITAL DRUM CAPITAL according to the host and the topic that interest you most. With champagne served throughout and DANSKE PRIVATE EQUITY ACCESS CAPITAL PARTNERS GE ASSET MANAGEMENT TPG CREDIT about ten to each table, you will enjoy the most heated/technical/interactive/informed and valuable ADVISORY BOARDS face-to-face discussion anywhere. This is wonderful stimulation, great fun and incidental networking at AIFM DIRECTIVE its best - and a perfect way to lead into the evening’s entertainment - 17th & 18th November. Determining New Best Practice On The AIFM Directive And Its Impact Advisory Boards – What Should Be Their Distressed And Turnaround War 15.50 On International Fundraising And Role And Composition, Should They Have Story – A Case Study In Success Rising-Star Showcase Structuring More Power And What Of Limited Liability? Moderator: PROBITAS PARTNERS MHR FUND MANAGEMENT Following an independent survey of LPs, this panel will feature those who came top of this poll and LOYENS & LOEFF who represent the very cream of the private equity industry and the top-quartile winners of tomorrow. PANTHEON VENTURES BRITISH AIRWAYS PENSION Don’t miss it - 19th November. 16.10 Title & Speaker to be confirmed INVESTMENT MANAGEMENT Title to be confirmed CPP INVESTMENT BOARD, PROSKAUER ALCHEMY PARTNERS In the Evening 16.30 Afternoon Tea plus: DEDICATED LP/GP “SPEED- NETWORKING” Meet and match your fund with LPs

LP-only Dinner for LPs to meet, talk and socialise in an exclusive context ahead of the conference. INDIA FUTURE MONEY MAKERS ACTIVE MANAGEMENT 16th November. This is open to pension funds, endowments, sovereign wealth funds and foundations. Can You Rely On Money-Makers For The Which Active Portfolio Company Assessing The Evolution Of The Future? What Is The Glue That Binds A Management Strategies Succeed? Please apply to Laura Griffin on [email protected]. Indian Private Equity Market And Its Partnership Together And Which Aspects - How To Change The Operating Opportunities - Another Decade Of Rapid Will Ensure The Team Survives To Manage Earnings Of A Business Post Acquisition 17.10 Growth Or A Period Of Mass Consolidation Moderator: AUGUST EQUITY Two Gala Receptions And Who Will The Winners Be? Out The Fund? Perfect for networking, for pre dinner drinks and to wind down after an intensive conference day – Moderator: PINEBRIDGE INVESTMENTS THE NEWDAWN PARTNERSHIP PEEPUL CAPITAL AMADEUS CAPITAL PARTNERS ALCHEMY PARTNERS 17th November CAPVENT COMMENDA PRIVATE EQUITY PARTNERS CDC GROUP, TANO INDIA ADVISORS G SQUARE BARING PRIVATE EQUITY PARTNERS BAML CAPITAL ACCESS FUNDS Plus, the fabulous and historic Hotel Crillon is the setting for the second superb reception. Join speakers and FERI INSTITUTIONAL ADVISORS BUTLER CAPITAL PARTNERS delegates for an unforgettable evening in the most sumptuous of venues – where Marie-Antoinette spent time ALLIGNMENT OF INTEREST FUNDS UNDER WATER MID MARKET DEALS - overlooking an unbeatable Paris panorama. Unmissable! - 18th November Alignment Of Interest - A Comparison What Are LPs Doing Regarding How Can You Differentiate 17.55 Of Terms Between Today & Medieval Funds Under Water? – How Will The Yourself To Demonstrate You Are Commendas In Venice Massive Misalignment Of Interest Between Adding Value In A Brutally COMMENDA GPs And LPs Be Resolved When There Is Competitive Mid Market No Prospect Of Carry And What Is The Environment? What Can Outlook For Portfolio Companies? GPs Do To Win Deals, Now Upper LATIN AMERICA Moderator: ABBOTT CAPITAL Mid Market Firms Have Moved Is Latin America Getting Overfunded? MANAGEMENT Into The Space? 18.15 Finding Value When There Are Limited SL CAPITAL PARTNERS Moderator: GRAPHITE CAPITAL Opportunities PINEBRIDGE INVESTMENTS 3I INVESTMENTS PAUL CAPITAL PARTNERS BP PENSION FUND TA ASSOCIATES RHO FUND INVESTORS CAPMAN

Q&A with An Entire Agenda Of Topics And Hosts To 18.35 Ed Altman, Max L Heine Professor of Finance, Choose From STERN SCHOOL OF BUSINESS, NYU Champagne Roundtable Discussions

4 Gala evening on 18th November at the fabulous Hotel Crillon 19.35 Gala Networking Drinks Reception for Speakers & Delegates KR2251 Sinvestor 2010:SuperInvestor 08 31/8/10 17:08 Page 5

MAIN CONFERENCE - DAY 2 MAIN CONFERENCE - DAY 3 18 November 2010 19 November 2010 08.00 Morning Coffee 07.25 End Investor-Only Breakfast p8 Hosted by ILPA tbc p10 Chairman 08.25 08.00 Morning Coffee Vince O’Brien, Director, MONTAGU PRIVATE EQUITY Chairman 08.25 p10 p8 Jon Moulton, Chairman, BETTER CAPITAL ALLOCATION – NEW RESEARCH CREATORS OF ALPHA 08.30 Private Equity And Asset Allocation: Does Private Equity Really Enhance Performance 08.30 Private Equity: Separating The Alpha Producers From The Beta Grazers And Reduce Risk In An Institutional Portfolio - 10 Year Case Study Charles Baillie, Global Co-Head Alternative Investments & Manager Selection Hanspeter Bader, Managing Director, Head of Private Equity, UNIGESTION GOLDMAN SACHS p8 p10/11 NEW ACTIVE MANAGEMENT ALLOCATION TO PRIVATE EQUITY Steering Portfolio Companies And Motivating Management Teams In A Tough Economic Private Equity Assets In An Overall Allocation – To What Extent Is The Substantial Premium Environment – What Has Been Learned And What Have Been The Biggest Challenges? Of Investing In PE Justified, Relative To Other Markets? 08.55 Roberto Quarta, Chairman Europe & Operating Partner CLAYTON DUBILIER & RICE How Should LPs Modify Their Allocation To Private Equity Post Crisis? Stuart Gent, Operating Partner, BAIN CAPITAL 08.50 Moderator: Jan Ståhlberg, Deputy CEO, Senior Partner, EQT PARTNERS Christopher Hunter, Managing Director, CAMBRIDGE ASSOCIATES Chris Masterson, Chairman, MONTAGU PRIVATE EQUITY p8 Sanjay Mistry, Head European Private Equity Research, MERCER Mark Calnan, Global Head of Private Equity, TOWERS WATSON THE ECONOMY Hanspeter Bader, Managing Director, Head of Private Equity, UNIGESTION Double Dip Or U-Shaped Recovery? Assessing The Current Global Global 09.30 Macroeconomic Environment And Outlook For Consumer Demand Growth Economy Roger Bootle, Founder & Managing Director, CAPITAL ECONOMICS, PRIVATE EQUITY THOUGHT-LEADER Author, THE TROUBLE WITH MARKETS p8 LP/GP The Squandered Opportunity? The State Of The Relationship Between 09.30 10.15 Coffee Relations Limited And General Partners --And How They Should Be Evolving Josh Lerner, Jacob H Schiff Professor of Investment Banking, REGULATION p8 p11 HARVARD BUSINESS SCHOOL Assessing Recent And Forthcoming Changes To The Global Regulatory Landscape – 10.25 Morning Coffee Examining The Burden Of Compliance, The Impact On Cross-Border Investing And How It Will Affect GPs And LPs p11 Moderator: Josh Lerner, Jacob H Schiff Professor of Investment Banking, POLITICS, REGULATION & THE MEDIA 10.45 HARVARD BUSINESS SCHOOL Understanding The Transformed Political And Ideological Order Relating To The Private Urs Wietlisbach, Partner & Executive Vice Chairman, PARTNERS GROUP Equity Business - Why Is The Reality And Image Of Private Equity So At Odds? Didier Millerot, Deputy Head of Unit, Asset Management, DG Internal Market & Services - Understanding The Disconnect Between The Industry, Regulators, The Media, Trade Unions And EUROPEAN COMMISSION The Public And What Can Be Done To Change This Richard Wilson, Senior Partner, APAX PARTNERS, Chair, EVCA 10.55 Moderator: Martin Arnold, Private Equity Correspondent, THE FINANCIAL TIMES Katharina Lichtner, Managing Director & Head of Research, CAPITAL DYNAMICS Vincenzo Morelli, Partner, TPG CAPITAL, p9 Chairman, EUROPEAN PRIVATE EQUITY ROUNDTABLE THE NEW “NORMAL” Simon Walker, Chief Executive Officer, BVCA 11.25 What Is The New “Normal” In Private Equity And Where Do We Go From Here? Guy Hands, Chairman & CIO, TERRA FIRMA Hervé Schricke, Chairman of the Executive Board, XANGE PRIVATE EQUITY & Chairman, AFIC 11.55 Speaker and title to be confirmed p11 LP STRATEGY p9 WHO WILL SURVIVE? Capitalising On The Current Market: LP Perspectives LPs Who Is Really Sustainable In European Private Equity? On Returns, Allocation, Portfolio Management And Funds Which GPs Will Still Be Here In Five Years' Time? Moderator: Christopher Hunter, Managing Director, CAMBRIDGE ASSOCIATES 12.25 Moderator: Jeremy Coller, CIO, COLLER CAPITAL John Hess, CEO, ALTIUS ASSOCIATES Pierre Fortier, Vice-President, Partnerships and Syndication Private Equity Maarten Vervoort, Partner Fund Investments Europe, ALPINVEST PARTNERS 11.30 CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Adalbjorn Stefansson, Head of Buyout Fund Investments, SKANDIA LIFE Torben Vangstrup, Managing Partner, ATP PRIVATE EQUITY PARTNERS Christophe Bavière, CEO & Managing Partner, INDINVEST PARTNERS Ivan Vercoutere, Partner, LGT CAPITAL PARTNERS p9 Q&A Andreas Schmidt, Managing Director, Primary Private Equity Investments 13.05 Lunch featuring VIP Lunch Tables & with Roger Bootle, Founder & Managing Director, CAPITAL ECONOMICS, Author, THE TROUBLE WITH MARKETS DB PRIVATE EQUITY Nick Ashmore, Head of Private Equity p9 DOWN-CYCLE OPPORTUNITY? NATIONAL PENSION RESERVE FUND Whatever Happened To The Great Opportunity At The Bottom Of The Cycle – Will It Ever Arrive? Moderator: John Singer, Chairman, ADVENT INTERNATIONAL EUROPE p11 EMERGING MANAGERS & SRI 14.30 Stefan Hepp, Founder & CEO, SCM STRATEGIC CAPITAL MANAGEMENT Emerging Managers, Environmental And Social Responsibility, Governance: How Do Fund P Olivier Sarkozy, Managing Director, THE CARLYLE GROUP Of Funds And GPs Address Clients' Needs Which May Not Be Solely Returns Driven? Rod Richards, Managing Partner, GRAPHITE CAPITAL Moderator: David Jeffrey, Managing Partner, PARISH CAPITAL Tom Attwood, Managing Director, ICG 12.25 Patricia Jeanjean, Investment Director, CAISSE DES DÉPÔTS ET CONSIGNATIONS PRIVATE EQUITY MODEL Christian Dujardin, Head of Product Development Private Equity, UNIGESTION Assessing How The PE Model Will Transform - To What Extent Is The Current Downturn Tom Rotherham, Associate Director Private Equity, HERMES FUND MANAGERS Cyclical Or More Fundamental, And What Will Be The Critical Changes? Frode Strand Nielsen, Managing Partner, FSN CAPITAL 15.10 Moderator: Thomas Pütter, Former CEO and Chairman, ALLIANZ CAPITAL PARTNERS Mark Redman, Senior Managing Director Europe, OMERS PRIVATE EQUITY 13.05 Lunch Hugh Langmuir, Managing Partner, CINVEN Jan Johan Kühl, Managing Partner, POLARIS PRIVATE EQUITY p11 p9 RISING STAR SHOWCASE Uli Grabenwarter, Former Head, Equity Fund Investments, EUROPEAN INVESTMENT FUND 14.10 The very best in private equity will be brought together as guest GP panellists, selected & invited as the 15.50 Afternoon Tea plus: DEDICATED LP/GP “SPEED- NETWORKING” Meet and match your fund with LPs future cream of their industry according to a confidential and independent survey of LPs. China, Lower Mid Market & Central p10 Exits, Portfolio Company Strategy & Practice p10 p9 & Eastern Europe Debt & “Unmentionables” Chaired by: PEARONLINE EMERGING MARKETS AND RISK Back after its much-lauded launch Determining And Understanding The True Risks – Regulatory, Industry, Manager, p9 p10 in 2009, this single-module stream Political & Currency – Of Investing In Emerging And Frontier Markets EXITS CENTRAL & EASTERN EUROPE will give practical and invaluable Moderator: Twenty Years Of Private Equity In Will Exit Routes Be Significantly insights in the development of Different In Future? – Where Will private equity firms, dealing with the Luc Nijs, Founder, Chairman & Group CEO, THE TALITHA GROUP Central And Eastern Europe 14.35 Moderator: Realisations Come From And How impact of the downturn. Besides Scott Foushee, Managing Director Head of Frontier Markets Private Equity Will The Average Company Get hearing from excellent speakers in AIG INVESTMENTS 16.20 ENTERPRISE INVESTORS To Liquidity? panel sessions, participants will Alex Sao-Wei Lee, Partner, AXIOM ASIA Moderator: themselves take part in interactive ADVENT INTERNATIONAL Varun Sood, Managing Partner & Co-Founder, CAPVENT ALPHA ASSOCIATES ARGOS SODITC roundtable discussions, led by those speakers, which feed into further Sev Vettivetpillai, Chief Executive Officer, AUREOS ADVISERS METLIFE INVESTMENTS SCOTTISH WIDOWS WARSAW STOCK EXCHANGE debate. Interactive learning, on p11 Michael Barth, Managing Director Global Investment, DARBY OVERSEAS tbc INVESTMENT PARTNERSHIP, ISIS critical subjects, at its very best. GLOBAL INVESTMENT ISSUES p9 p10 1. Prospects For Selling Your What Are The Issues Facing The Private Equity Industry Across Emerging Markets? WALL OF DEBT Current Strategy To LOWER MID MARKET How Will The Wall Of Debt Play Out (Cynical, Overworked & Comparing And Contrasting Investment Opportunities In Different Geographies And Sectors Who Are The Real Success Stories In Terms Of Returns And Ownership Capital-Constrained ) LPs Moderator: In The Lower Mid Market? – Exploiting Moderator: Local Networks In Underserved Relating To Deals Done 2/3 Years 15.25 Luc Nijs, Founder, Chairman & Group CEO, THE TALITHA GROUP Ago And What Are The CANDELA CAPITAL Steven Cowan, Managing Director, PGCI p8 Sectors And Successful Strategy Opportunities? How Big Is The Debt 16.55 Differentiation In The Small Cap Sector BARCLAYS PRIVATE EQUITY Miriam Schmitter, Managing Director, CAMBRIDGE ASSOCIATES Moderator: Problem, How Will Banks And GPs Respond ? TERRA FIRMA Alice Chow, Managing Director, SQUADRON CAPITAL PARTNERS KEYHAVEN CAPITAL PARTNERS PANTHEON VENTURES Rahul Bhasin, Managing Partner, BARING PRIVATE EQUITY PARTNERS NORWIND CAPITAL p11 Koonal Gandhi, CIO, KAISER FAMILY FOUNDATION AUGUR CAPITAL, BAY HILLS CAPITAL GOLDMAN SACHS 2. Adapting Your Investment CITI PRIVATE EQUITY PARK SQUARE CAPITAL Strategy To The LP Famine Moderator: 16.15 Close of Conference Taboo INDURO ADVICE China p10 p9 Topics MONUMENT GROUP NORTHWESTERN MUTUAL CHINA TABOO TOPICS CAPITAL Would you like to showcase your firm, your fund Exploiting China’s Vast Opportunity Analysing Unmentionable And Taboo Set – Overcoming The Challenge Of Topics For The Private Equity Industry Plus speakers to be confirmed A Limited Number Of Managers or your brand to this superb audience? With Exiting Experience, Oversized 3. Ensuring Your Team’s Optimum 17.30 Currency Funds And Alignment Of Size And Structure, To Survive If so, please call James Roberts Interest Issues Moderator: BETTER CAPITAL And Prosper Moderator: JADE INVEST Moderator: GREENPARK CAPITAL GRAPHITE CAPITAL on +44 (0) 20 701 77944 or CDH INVESTMENTS HARVARD BUSINESS SCHOOL MANAGEMENT ORCHID ASIA GROUP NORWIND CAPITAL RICHMOND PARK PARTNERS email him today on [email protected] MANAGEMENT DUKE STREET AMALA PARTNERS KEYTONE VENTURES Plus speakers to be confirmed An Entire Agenda Of Topics And Hosts To Choose From 18.20 Champagne Roundtable Discussions To register: www.icbi-superinvestor.com • Tel +44 (0) 20 7017 7200 Gala Networking Drinks Reception for Speakers & Delegates 19.30 • Fax +44 ( 0) 20 7017 7807 • E [email protected] at the fabulous Hotel Crillon 5 KR2251 Sinvestor 2010:SuperInvestor 08 31/8/10 17:12 Page 6

DAY 17 November 2010 1 Main Conference

07.50 Registration & Coffee member of the Mid-Market Committee of the British Venture Capital Association and is also a Dominique Senequier, CEO, AXA PRIVATE EQUITY member of the BVCA’s Research Advisory Board. Dominique Senequier is an inspiring and respected CEO who is passionate 08.20 about her business. She founded AXA Private Equity in 1996, which now Nigel McConnell, Managing Partner, COGNETAS advises/manages $25 billion of assets globally, with offices in Paris, Morning Chairman: Nigel McConnell is Chairman of the Advisory Investment Committee and Frankfurt, London, Milan, Zurich, New York, Singapore and Vienna. She joined the firm, which is now Cognetas LLP (formerly Electra Partners continues to take a hands-on approach to the business and works closely Jonny Maxwell, Industry Veteran Europe) in 1991, having previously been a Director with Prudential Venture with executive board members to maintain a good understanding of AXA Up to December 2009 Jonny Maxwell had overall responsibility for Allianz's Managers for six years. Prior to that, he spent two years in Coopers & indirect private equity activities, operating out of locations in Munich, New Private Equity’s portfolio companies. Dominique was one of the first women to graduate Lybrand’s Corporate Finance department advising MBO teams. A Chartered from the Ecole Polytechnique in 1972. York and Singapore. At that time Allianz, one of the world's largest Accountant, Nigel has played a leading role in transactions including insurance companies managed in excess of EUR 6.3bn in the indirect PE Amtico, Fritidsresor, Global Solutions, Holt Lloyd, Inchcape Shipping Mona ElNaggar, Managing Director, Head of Europe space. Prior to joining Allianz in 2007, Jonny was Chief Executive of Services, Inspectorate, Lombard Insurance and PHS. Standard Life Investments ( Private Equity ) in Edinburgh, Scotland. During THE INVESTMENT FUND FOR FOUNDATIONS To be confirmed. his 17 years there he built the private equity business and assets from a small single John W. Jordan II, Chairman & Managing Principal Mona heads up the London office of The Investment Fund for Foundations client operation, into an international multi client manager with private equity assets of (TIFF), which offers multi-manager investment vehicles to endowed over Euro 5.5bn. THE JORDAN COMPANY charities plus resources aimed at enhancing fiduciaries' investment John W. “Jay” Jordan, II began is career in Wall Street at Carl Marks in the knowledge. Mona selects and monitors TIFF’s portfolio of private equity early 1970's where he became a pioneer in the private equity business. Over and private real estate managers in Europe and many emerging markets. 08.30 the course of nine years at Carl Marks, the partnership amassed a portfolio of Prior to joining TIFF, Mona spent over 11 years at Morgan Stanley, in the firm's merger approximately 25 companies doing in excess of $2.5 billion in sales volume. In and acquisitions, corporate finance, and securitisation divisions. 1982, Jay formed The Jordan Company (“TJC”). Since its formation, TJC has CAPITAL OVERHANG acquired approximately 100 platform companies and an additional 400 add on acquisitions Peter Keehn, Global Head of Private Equity What Becomes Of The Capital Overhang? How Much Is with aggregate sales volume in excess of $10 billion. Today, the TJC portfolio includes over ALLSTATE INVESTMENTS Pressure Increasing On GPs To Deploy Capital Due To twenty companies with approximately $4.5 billion in aggregate sales. Allstate Investments manages approximately $100bn in assets on behalf of Investment Periods Running Out And What Does This insurance and pension clients affiliated with The Allstate Corporation. Peter leads Andrea Bonomi, Chairman, INVESTINDUSTRIAL a team that manages Allstate’s $ 3 billion Private Equity portfolio and makes Mean For Deals, Returns And Fundraising? In 1990 Andrea established Investindustrial, the leading Southern European fund and direct investment globally from offices in Chicago and London. He Michael Queen, Chief Executive, 3I GROUP investment group. In 2009, Investindustrial was recognised as the Best recently returned to Allstate's Home Office from an assignment in London Private Equity Firm in both Italy and Iberia in the Private Equity International where he established and served as CEO of the firm's UK-based investment affiliate. Michael joined 3i in 1987 and is the Chief Executive. He has previously Awards. In 2008, Investindustrial was the first private equity operator with been Managing Partner of 3i's Infrastructure business and Global Head of focus on Southern Europe to subscribe to the UN Global Compact Ten Growth Capital. He has worked in a number of offices in various roles and Principles programme and in 2009 subscribed to the Principle for 13.10 Lunch in 1994 he was seconded to the HM Treasury to help to develop the Responsible Investments initiative In addition Investindustrial has been potential for the Private Finance Initiative in the NHS as Head of the NHS recently certified carbon neutral by the CarbonNeutral Company. With VIP LUNCH TABLES Private Finance Unit. Michael has invested across a broad range of sectors but has a particular focus on healthcare and financial services. In 2002/2003 Michael was Including Kathleen Bacon, Managing Director, HARBOURVEST Chairman of the British Venture Capital Association. Anthony J. de Nicola, Co-President Followed by your choice of afternoon sessions. Delegates are free to move WELSH, CARSON, ANDERSON & STOWE between streams to hear the speakers and subjects of their own interest. Mr. de Nicola is a member of the Executive Committee and the Management 08.55 Committee, having joined WCAS in 1994. He focuses on the information/business services industry. Prior to joining WCAS, he worked for Stream A BIG BUY-OUTS four years in the private equity group at William Blair & Company, financing middle market buyouts. Previously, Mr. de Nicola worked at Goldman Sachs & Infrastructure, India & Mid Market Is Mid Market The Only Game In Town? How Are Co. in the Mergers and Acquisitions Department. Strategies Changing For Big Buy-Out Funds Now That The 14.40 Debt Bubble Has Burst? 11.20 Moderator: Juan Delgado-Moreira, INFRASTRUCTURE Managing Director, GUEST SPEAKER Mitigating Inflation Worries And Exploiting A Risk Averse HAMILTON LANE The Return Of Debt Finance And Leverage – Analysing The Investment With Real Assets And Annual Cash Flows For biography please see page 2 Current Conditions And Outlook For Global Credit Markets Moderator: Jeffrey Altmann, Senior Asset Manager Ed Altman, Max L Heine Professor of Finance FIRST STATE INVESTMENTS Jörg Rockenhäuser STERN SCHOOL OF BUSINESS, NEW YORK UNIVERSITY Jeffrey Altmann is Senior Asset Manager at First State Investments. First State is the Edward Altman is Director of the Credit and Fixed Income Research Program asset management arm of the Commonwealth Bank of Australia, which has 15+ years of Head of Germany at the NYU Salomon Center. Dr Altman has an international reputation as an expertise in infrastructure. Jeffrey has extensive experience in infrastructure mainly with PERMIRA expert on corporate bankruptcy, high yield bonds, distressed debt and credit electricity, gas and telecoms assets in Europe and the United States since 1993. Jörg Rockenhäuser is Head of Permira in Germany and is a member of all risk analysis. He was named Laureate 1984 by the Hautes Etudes the international advisory boards (Executive Group, Management Group Commerciales Foundation in Paris for his accumulated works on corporate Cressida Hogg, Managing Partner Infrastructure, 3I and Investment Committee). He is also a member of the ProSiebenSat.1 distress prediction models and procedures for firm financial rehabilitation and awarded the Cressida joined 3i in 1995, having previously worked at JP Morgan. Before starting 3i's Media AG supervisory board. Graham & Dodd Scroll for 1985 by the Financial Analysts Federation for his work on Default infrastructure team in 2005, Cressida worked on a wide range of MBO and private equity Rates and High Yield Corporate Debt. He was inducted into the Fixed Income Analysts deals. Recently she has led 3i's investments into AWG and I2, a secondary PFI Marc St John, Partner & Head of Investor Relations Society Hall of Fame in 2001 and elected President of the Financial Management Association investment fund. CVC CAPITAL PARTNERS (2003) and a Fellow of the FMA in 2004, and was amongst the inaugural inductees into the Turnaround Management Association’s Hall of Fame in 2008. In 2005, Dr Altman was named Stephen Vineburg, CEO Infrastructure, CVC CAPITAL PARTNERS Marc is Partner in charge of Investor Relations for CVC across the Stephen was appointed Chief Executive, Infrastructure -CVC Capital Partners in European and Asian funds and has raised more than $35 billion in equity one of the “100 Most Influential people in Finance” by Treasury & Risk, Management magazine and is frequently quoted in the popular press and on network TV. December 2007 and is responsible for the development and management of the capital from over 250 investors. Prior to CVC, Marc worked at Citi for 13 infrastructure investment business. Prior to taking up this appointment he was Global years. In his last job, he was responsible for Special Projects for Chairman Head of Infrastructure Investment at Colonial First State Global Asset Management, the John Reed. 12.00 investment management arm of Commonwealth Bank of Australia. He has been a pioneer of infrastructure investment, managing portfolios of investments in toll roads, John Hahn, Managing Director & railways, airports as well as water, gas and electricity businesses for institutional clients Head of European Investment Activities, PERFORMANCE since 1994. He has been responsible for a global portfolio which included investments in PROVIDENCE EQUITY PARTNERS How Do You Decipher Performance And Measure Brisbane Airport, the Inexus Group and Anglian Water Group. John Hahn is a managing director based in Providence Equity’s London Success? How Trustworthy Are Valuations And Which office and leads the firm’s European private equity investment activities. He Mark Florian, Managing Director, Energy Infrastructure is currently a member of the supervisory board of Kabel Deutschland and is Deals Have Worked And Which Classes Of Investments FIRST RESERVE CORPORATION a director of Digital Platform leti im Hizmetleri (Digiturk), Grupo Corporativo Have Earned More? Mark Florian joined First Reserve in 2008 to lead First Reserve’s energy infrastructure fund. Ono and Nordic Cable Acquisition Company (Com Hem). Prior to joining Providence in Moderator: Kathleen Bacon, Managing Director Mr Florian’s responsibilities include investment origination, structuring, execution, monitoring 2000, Mr Hahn was a managing director at Morgan Stanley. Prior to this, he worked with and exit strategy, with particular emphasis on the worldwide energy infrastructure sector. Price Waterhouse and Federal Data Corporation. HARBOURVEST Kathleen Bacon has 20 years’ experience in private equity investing and Prior to joining First Reserve, Mr Florian was a Managing Director and Chief Operating concentrates on managing European and emerging markets primary Officer of Goldman Sachs’ Public Sector and Infrastructure Department, managing its Nikos Stathopoulos, Managing Partner, BC PARTNERS Infrastructure Investment Banking business, and was on the Investment Committee for Mr Stathopoulos joined BC Partners in 2005 and has 13 years experience partnership investments. She has also been involved with direct and secondary partnership investments. Kathleen joined the firm’s London Goldman Sachs Infrastructure Partners. Mr Florian also spent time in the public finance, in private equity having led a variety of private equity investments globally, corporate finance, and mergers groups at Goldman Sachs. including the $3.25 billion acquisition of Migros Turk, and the €1 billion subsidiary in 1994 and serves on the advisory boards of a number of public to private acquisition of Hyatt Regency. Prior to joining BC Partners, private equity partnerships. Kathleen’s prior experience includes a position with the First Michael Barben, Partner, Head of Private Infrastructure Mr Stathopoulos was a Partner at Apax Partners where he spent seven National Bank of Boston, where she was responsible for lending to US subsidiaries of UK-owned companies. PARTNERS GROUP years working on large European buy-out transactions. He is a member of Michael Barben is chairman of the private infrastructure investment committee. He was the Harvard Business School European Leadership Board, the European Venture Capital Neil Harper, Managing Director, MORGAN STANLEY originally responsible for European buyout and special situations partnership selection Association Buyout Committee, the Board of Trustees of the Private Equity Foundation, before, after an initial assignment in Switzerland, he was made responsible for building the Advisory Board of the AUEB. ALTERNATIVE INVESTMENT PARTNERS Neil is a portfolio manager for Morgan Stanley Alternative Investment the firm's US based manager selection team, and subsequently was appointed global head of the alternative strategies manager selection team. Prior to joining Partners 09.30 Partners, Morgan Stanley's Private Equity Fund of Funds group, managing approximately $7bn in fund investments and direct co-investments globally. Group, he worked as an investment manager for Zurmont Management, a Swiss Neil leads EMEA investment activities from the London office and has 20 company focused on late stage growth financing and mid-sized buyout transactions, and The Opportunities And Challenges Of International years of relevant industry experience. Prior to joining Morgan Stanley AIP, for UBS Investment Bank. Private Equity he was a Partner with McKinsey & Company based in Europe, North America and Asia Sanjay Patel, Head of International Private Equity providing consulting services to corporate and private equity clients on strategy, 15.15 APOLLO MANAGEMENT performance improvement, mergers and acquisitions and corporate finance. Mr Patel joined Apollo in 2010 as Managing Partner and Head of Raymond Abbott, MID MARKET International Private Equity resident in the London Office. Mr Patel was most recently the co-head of European Private Equity and the co-head of Managing Director, Head of Private Equity How Successfully Will Mid Market Buy-Outs Fundraise? Indian Private Equity at Goldman Sachs PIA. Mr. Patel joined Goldman ALLIANCE TRUST EQUITY PARTNERS How Will Closing Below Target Impact The Nature Of The Sachs’ M&A department in New York in 1983, moved into PIA in 1987 and For biography please see page 2. Business And Its Positioning Within The Market? was promoted up the ranks to Managing Director. In 1998, he joined Greenwich Street Capital Partners as a partner, was promoted to President before rejoining PIA as a Moderator: William van Eesteren, Managing Director partner in London in 2005. WILSHIRE PRIVATE MARKETS GROUP Gillian Brown, Head of Private Equity Mr van Eesteren is responsible for origination, due diligence, and monitoring of buyout 09.55 BRITISH AIRWAYS PENSION INVESTMENT MANAGEMENT and venture capital investments in Europe. He has 12 years of investment experience. Gillian joined British Airways Pension Investment Management Ltd in March 2008. She began Prior to joining WPM, he worked in investment banking, most recently as Vice President her private equity career in 1987 when she developed and managed the private equity portfolio with ING Barings. Mr van Eesteren was also previously with NationsBank and Bank of Regulation, Fundraising And Fund Challenges In A at the Greater Manchester Pension Fund. In the following years she spent time with William America in London. Mr van Eesteren serves on several buyout and venture capital Recession Mercer as a senior consultant where her role included advising pension funds on private equity partnership advisory boards in Europe.  What Funds Are Closing? Who Is Investing? strategy. At Merrill Lynch Investment Managers, Gillian led the European investments made by its first fund of funds before moving to Hermes Private Equity to lead the fund investing team. John Euers, Investment Director  Investor Issues, Key Terms, Fund Restructurings After leaving Hermes she set up Tandem Private Equity which subsequently became Mithras  PPM MANAGERS AIFM, Regulatory And Tax Update And Threats Capital Partners. John Euers is an Investment Director at PPM Managers, the London based private equity Jonathan Blake, Senior Partner fund of funds team of UK life insurer Prudential plc. He is a member of the Advisory Board of SJ BERWIN several mid-market buy-out funds. Prior to joining in 2006, John spent seven years with the Jonathan Blake is SJ Berwin’s Senior Partner and has more than 30 years’ 12.35 medical research charity Wellcome Trust, one of the largest European investors in private experience of the Private Equity industry. He negotiated the UK equity, where he helped manage their £3billion global private equity Fund of Funds portfolio. Government guidelines on the use of limited partnerships as investment PPM Managers was established in 2000 to build a portfolio of private equity partnerships in funds. In 2004, Jonathan was admitted to the BVCA “Hall of Fame” - the LP ACTIVISM Europe and Asia and had commitments of €1bn as at 31st December 2009. only adviser ever to be given this tribute. LP Activism In Reshaping The Private Equity Market – How & Active Have They Been, How Active Should They Be And Cem Meric, Principal, Head of European Primary Investments George Pinkham, Senior Partner, Paris, SJ BERWIN How Can Investors Work Together To Affect Change? LGT CAPITAL PARTNERS George S Pinkham is the Senior Partner of the Paris office and specialises Cem has been with LGT Capital Partners a leading European fund of funds since early in the creation of private funds both in France and abroad. He. also has Moderator: Thomas Kubr, Managing Director & CEO, 2001. He is in charge of leading and coordinating LGT Capital Partners’ European primary significant experience in private equity transactions, particularly LBO and CAPITAL DYNAMICS investments. He is also a member of the global investment committee of LGT Capital LMBO acquisitions by private equity funds. He is a member of the Tax and Thomas is a Managing Director and the Chief Executive of Capital Dynamics, a Partners, and one of the voting members for the European primary investments of the Legal Committee of AFIC. position he held since 1999. Previously, he was the head of private equity at firm. Before joining LGT Capital Partners, he was with Argos Soditic in Geneva, and Partners Group and a consultant with McKinsey & Company from 1995 to 1997. Banexi-BNP in Paris. He began his career as an aerospace engineer at the Space Division of Oerlikon 10.20 Morning Coffee Contraves. Capital Dynamics is an independent asset management firm Jesper Knutsson, Senior Investment Manager focused on private equity. Capital Dynamics offers institutional investors and family offices a DANSKE PRIVATE EQUITY For biography please see page 2. 10.50 wide range of private equity products and services: fund of funds, direct investments, separate account solutions and structured private equity products. With more than 20 years of 15.50 experience, Capital Dynamics manages and has advised on a combined total of over USD 21 MID MARKET billion in private equity and real estate funds. Evaluating The Competitive Market Dynamics Of The Mid AIFM DIRECTIVE Market When There Is So Much Capital – Where Will The Wim Borgdorff, Managing Partner Head of Fund Investments The AIFM Directive And Its Impact On International Fund ALPINVEST PARTNERS Deal Flow Opportunities Arise? Wim joined AlpInvest Partners in 2000 from ABP Investments, where he Raising and Fund Structuring Moderator: Louis Elson, Managing Partner led the restructuring of ABP’s Real Estate activities as well as the setting Aleid Doodeheefver, Lawyer & Member Of The Investment PALAMON CAPITAL PARTNERS up of ABP’s Alternative Investments unit. Previously, he was managing Management Group, LOYENS & LOEFF Louis Elson co-founded Palamon Capital Partners in 1999 and is head of the director with ING Asset Management. Bringing nearly 20 years of Aleid Doodeheefver is a banking and securities lawyer based in Amsterdam who Operating Committee. He is an American national. As a former London-based alternative investment experience to his role at AlpInvest Partners, Wim heads AlpInvest specialises in fund formation for the alternative as well as the non-alternative fund partner of Warburg Pincus, Mr Elson has extensive experience in European Partners Fund Investments and Secondary Investments teams. He is also a member of industry. Aleid advised both APG Algemene Pensioengroep and Bouwinvest REIM (asset private equity. Before joining Warburg Pincus, he was involved in investment AlpInvest Partners Executive Committee and a founder of the Firm. He is a member of and fund managers of the largest and fourth largest pension fund in the Netherlands, banking at Goldman, Sachs & Co and in publishing at Time Inc. Mr Elson is a the supervisory board for Cório, and advisory boards for Apax and Permira. respectively) on the formation of their multi billion asset pooling structures. In addition,

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DAY 17 November 2010 1 Main Conference

Aleid also acts as counsel to a number of large institutional investors (including fund-of- 15.15 Kaarina Suikkonen, Investment Director Private Equity funds) in relation to their international alternative fund investments. Aleid has particular FERI INSTITUTIONAL ADVISORS expertise in financial markets regulation in relation to investment products, asset Kaarina is Director Private Equity of Feri Institutional Advisors, a German investment management and other investment services. She actively participates in the technical DUE DILIGENCE advisory firm servicing institutional investors and family offices. Kaarina is responsible for group of the European Private Equity & Venture Capital Association on AIFM Directive Changes To Due Diligence – What Are People Doing global private equity fund investments and portfolio management. She also spearheads related issues. Differently Compared To Five Years Ago And What Are The Feri’s efforts in the renewable private equity. Prior to Feri, she did private equity research 16.10 and manager selection at CalSTRS Alternative Investments. She has 15 years of private Ten Critical Questions That Investors Should Ask? equity investing and direct transaction experience. Moderator: Michael Russell, Partner & Head of Europe EMEA, Title and Speaker to be confirmed ALTIUS ASSOCIATES For biography please see page 2. 17.55 16.30 Afternoon Tea plus: Philippe Roesch, Managing Director, Head of Private Equity Europe DEDICATED LP/GP “SPEED- NETWORKING” AUDA INVESTMENT MANAGERS Meet and match your fund with LPs FUNDS UNDER WATER For biography please see page 2. What Are LPs Doing Regarding Funds Under Water? – Sign up to spend half an hour meeting more than a dozen different LPs, Bjarki Brynjarsson, Managing Director, Corporate Finance How Will The Massive Misalignment Of Interest Between allowing you to introduce your fund, shake hands, make contact and ASKAR CAPITAL GPs And LPs Be Resolved When There Is No Prospect Of swap business cards. Half an hour spent at SuperInvestor’s speed Askar Capital is a boutique investment bank offering advisory services related to networking will provide you with great future business leads. investments in alternative financial products. The corporate finance team focuses largely Carry And What Is The Outlook For Portfolio Companies? on managing and restructuring distressed assets within the private equity and real estate Moderator: Charles van Horne, Managing Director 17.10 sectors and has completed transactions internationally with a value of more than Euro ABBOTT CAPITAL MANAGEMENT 1bn. Prior to joining Askar Capital, Bjarki held executive positions at Reykjavik University, Mr van Horne’s responsibilities include development of Abbott’s fund of fund activities, Nyherji, Klak – Innovation Centre, Kaupthing Bank and SINTEF. client services and assisting institutional investors in the formulation and execution of INDIA their private equity strategies. Mr van Horne has over 20 years of experience in private Assessing The Evolution Of The Indian Private Equity Agnès Nahum, Co-founder & Managing Partner equity in the US, Europe and the emerging markets, including establishing and managing ACCESS CAPITAL PARTNERS teams focused on funds of funds, direct investment partnerships, individual direct Market And Its Opportunities - Another Decade Of Rapid Agnès co-founded Access Capital Partners in December 1998 and she has 21 years of investments, M&A, restructurings and project finance. Abbott manages approximately Growth Or A Period Of Mass Consolidation And Who Will private equity experience. She is a member of the Investment Committee and is $6.5 billion of assets on behalf of institutional clients worldwide, of which over $1.0 responsible for investments, strategic development, management and marketing of billion was committed to its most recent fund of funds, Abbott Capital Private Equity The Winners Be? Access. She serves on the advisory committees of funds in France, the UK, Germany, Fund VI ("ACE VI"). Moderator: Switzerland, Italy, and Spain. Prior to co-founding Access, she was Director of Business Sandeep Reddy, Founder & Managing Director Development at Financière Natexis, then at BNP Private Equity, both leading French Peter McKellar, Partner & CIO PEEPUL CAPITAL Private Equity houses. She spent six years with a French insurance company, Mutuelle SL CAPITAL PARTNERS Peepul Capital is an India-centric private equity investor with investments focused on Assurance Artisanale de France (MAAF), where she was Head of Private Equity, Peter McKellar started his career in investment banking at JP Morgan and worked in opportunities in technology products & services and specialised engineering. Sandeep managing a portfolio of unquoted investments. corporate finance before moving into industry in 1995 as corporate development director has been one of the early participants in the rapidly evolving Indian private equity and then group finance director of Clydeport plc, a London Stock Exchange listed industry having been active for a decade. He takes overall responsibility for defining and Paolo Simonato, Managing Director company and a former Montagu Private Equity buyout. Peter joined Standard Life executing Peepul’s strategy through which he has spawned and built a number of GE ASSET MANAGEMENT Investments’ private equity team in the autumn of 1999, as Investment Director, and entities as well as driven migration through their lifecycles. Peepul Capital has been Based in Paris, Paolo developed GE Asset Management’s private equity investment team was promoted to Chief Investment Officer in December 2006. SL Capital Partners LLP involved in sponsoring over 26 companies. in Europe. GE Asset Management, with approximately $US100B in assets under (formerly Standard Life Investments (Private Equity) Limited) currently manages in management, is the investment manager for the General Electric Pension Trust and other excess €6.3 billion of private equity money on behalf of around 150 clients worldwide. Varun Sood, Managing Partner & Co-Founder institutional clients. Paolo actively supports origination for the GEAM International Private CAPVENT Equity Fund I, a $US436MM global private equity fund closed in 2005. Paolo joined GE Vicky Wilson, Head of Private Equity Varun Sood jointly manages Capvent’s firm’s investment activities and is integral to in 1994 as part of GE’s Corporate Audit Staff where he participated and managed BP PENSION FUND Capvent’s growth as a specialist provider of performance-driven investment services in assignments in the US, Europe and Asia. Vicky Wilson is Head of Private Equity at the BP pension fund, and manages a portfolio private equity. He is responsible for creating Capvent’s investment guidelines and risk of over 170 private equity funds. This accounts for approximately 10% of the £11.3 billion management systems. Previously he was executive director and head of Société pension fund and is invested in a diverse range of funds. Previously Vicky managed the Générale European LBO group and a vice President at ABN AMRO. 15.50 private equity portfolios at British Airways and Shell pension funds and began her career in private equity at Altius Associates in the late 1990s. Prior to that she held positions at Anubha Shrivastava, Managing Director, Asia Salomon SmithBarney and Capital International. CDC GROUP ADVISORY BOARDS CDC Group is a fund of funds business owned by the British Government that invests in Determining New Best Practice On Advisory Boards – Gordon Hargraves, Partner, RHO FUND INVESTORS the developing economies of Africa, Asia and Latin America. Anubha Shrivastava is What Should Be Their Role And Composition, Should They For biography please see page 2. 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 Have More Power And What Of Limited Liability? Rhonda Ryan, Head of Private Funds Group Europe General Motors Asset Management’s Private Equity Group in New York, USA. She was Moderator: PINEBRIDGE INVESTMENTS involved in the global private equity fund-of-funds portfolio as well as the global co- Kelly Deponte, Partner, PROBITAS PARTNERS For biography please see above. investment program. Thereafter she worked at Performance Equity Management, LLC, For biography please see page 2. where she was responsible for managing the European fund-of-funds and co-investment portfolios. Anubha Shrivastava started her career in Arthur Andersen and went on to Helen Steers, Partner, Head European Investment Stream C work with Hambrecht & Quist, USA prior to joining General Motors Asset Management. PANTHEON VENTURES Distressed & Growth Rahul Bhasin, Managing Partner Helen leads Pantheon’s European primary investment activity and is a member of the International Investment Committee. Helen is Chair of the European Investment 14.40 BARING PRIVATE EQUITY PARTNERS Committee and a member of the Co-investment Committee. Helen joined Pantheon in Rahul Bhasin is a Senior Partner and Global Board Member of Baring Private Equity Partners 2004 from Russell Investments in Paris, where she was Managing Director with (BPEP) International. Rahul is also a member of the Investment Committee at Baring Vostok overall responsibility for private equity in Europe. Prior to joining Russell in 1999, Helen DISTRESSED Capital Partners and has also been an advisory board member of the ING group in India. He spent five years as Director, European Private Equity with the Caisse de dépôt et has crafted the strategy and execution processes for the investments by Baring in India and placement du Québec. Game On: Strategies And Tactics For Redefining serves on the boards of various companies funded by Barings in India. He has served as the Distressed Investing Chairman of MphasiS BFL Limitedand, where he oversaw its transformation from a loss Gillian Brown, Head of Private Equity making to a profit making company. The company was recently acquired by EDS (and Alexander Greene, Managing Partner subsequently by HP) and enjoys a market cap in excess of $ 3.0 billion. BRITISH AIRWAYS PENSION INVESTMENT MANAGEMENT BROOKFIELD ASSET MANAGEMENT For biography please see page 6. Brookfield Asset Management is a global asset manager focused on property, power and Hetal Gandhi, Co-Founder infrastructure with over US$100 billion of assets under management. Mr Greene leads Julie Gray, Principal Private Investments – Funds & Secondaries, Brookfield’s restructuring and related financing activities in the United States, investing in TANO INDIA ADVISORS CPP INVESTMENT BOARD companies which are experiencing financial and operating difficulties and are in need of capital Tano India Advisors Pvt Ltd (Tano), is a PE Fund Manager, focused on investments in and strategic advice. He joined Brookfield in December 2005 from The Carlyle Group, where growth stage medium enterprises in India. Tano has so far made 9 investments and Julie joined CPP Investment Board in 2007. She started her career with CPPIB in Toronto, but is currently based in the firm’s London office, and is focused on assessing and managing he was co-head of the firm’s financial restructuring activities. Prior to Carlyle, Mr Greene was a completed 2 divestments at an average of 3x over 43 months. Mr Gandhi has spent his senior restructuring partner at Gleacher Partners, Wasserstein Perella & Co, and Whitman entire career in India, and has amassed experience across the entire spectrum of primary fund commitments and secondaries investments on an international basis. Prior to joining CPPIB, Julie worked with The Boston Consulting Group, where her experience was Heffernan Rhein & Co, and its affiliate MJ Whitman & Co. He began his career at financial service businesses encompassing private equity, corporate lending, Manufacturers Hanover Trust Company. infrastructure financing, mergers and acquisitions, and capital markets. Prior to founding centered on corporate growth and turnaround strategies primarily in the financial services and Tano in 2006, Mr. Gandhi was the CEO for the financial services business of consumer good sectors with companies across Canada, the US, the UK and Latin America. Infrastructure Leasing and Financial Services Limited (IL&FS), where he spent 17 years 15.15 during which he was the CEO and Managing Director of IL&FS Investment Managers Robert Barry, Partner Limited (IIML) for six years. PROSKAUER Robert Barry is a Partner in the Private Investment Funds Group at Proskauer resident in the London office. Bob focuses on structuring private investment funds and advising DISTRESSED 17.55 institutional investors on their alternative investments. His work encompasses a wide Analysing The Opportunity In Distressed And Turnarounds variety of funds, including infrastructure, private equity, real estate, fund of funds, • Examining successes, challenges and lessons learned venture capital and hedge funds, in their formation and ongoing operations and • Will there be new money to take advantage of prospects going ALIGNMENT OF INTEREST investments. In addition, Bob has significant experience advising on spin-outs of asset Alignment Of Interest - A Comparison Of Terms Between managers and secondary transactions. forward given recent results? Today & Medieval Commendas In Venice Moderator: Hans Lovrek, Managing Director Jakub Crhonek, Managing Director COMMENDA 16.30 Afternoon Tea plus: CLEARSIGHT INVESTMENT Hans Lovrek, founded Commenda Private Equity. The firm structures private equity fund Jakub is heading Clearsight Investment AG in Zurich, a private equity fund of funds firm, of funds for Austrian institutions and advises them on their programmes. Prior to that he DEDICATED LP/GP “SPEED- NETWORKING” focused on turnaround and restructuring groups. Prior to founding Clearsight, Jakub was initiated the private equity program of Bank Gutmann and structured the first Austrian Meet and match your fund with LPs the Head of European Private Equity for HRJ Capital, a global diversified private equity private equity fund of funds. He is also doing research on the roots of private equity as fund of funds investor. Prior to this, Jakub was with LGT Capital Partners in the Zurich an institution at the Faculty of Historical and Cultural Studies at the Unviersity of Vienna. area and with Citadel Investment Group in San Francisco. Jakub started his career as an analyst at Credit Suisse First Boston in Palo Alto. 18.15 17.10 Nicolas von der Schulenburg, Managing Director PORTFOLIO ADVISORS FUTURE MONEY-MAKERS Nicolas von der Schulenburg leads Portfolio Advisors’ European investment activities. LATIN AMERICA Can You Rely On Money-Makers For The Future? What Is The Previously he was an Investment Director for CAM Private Equity, a private equity fund Is Latin America Getting Overfunded? Finding Value When Glue That Binds A Partnership Together And Which Aspects of funds firm based in Germany, where he focused on conducting due diligence on There Are Limited Opportunities European private equity partnerships. Prior to joining CAM, Nicolas gained five years of Will Ensure The Team Survives To Manage Out The Fund? direct private equity investing experience with 3i Group plc in Germany. Prior to entering R Duncan Littlejohn, Managing Director Moderator: Rhonda Ryan, Head of Private Funds Group Europe, private equity, Nicolas was a management consultant with Arthur D. Little. PAUL CAPITAL PARTNERS PINEBRIDGE INVESTMENTS Paul Capital Partners is a well known secondary private equity fund manager with over Ms Ryan joined the firm in 2006 and is Head of Private Funds Group Europe. She Mark Rachesky, President US$ 7 billion in AUM. Mr Littlejohn was previously a partner of BPE Investimentos, a focuses on private equity investment activities on a global basis. Her responsibilities MHR FUND MANAGEMENT primary private equity fund manager whose portfolios have included companies such as include evaluating and meeting with private equity fund managers, making investment Datasul, Injepet, Mobitel, Getec, Autotrac, Armco Staco and others. BPE has invested in 15 Dr Rachesky is the President of MHR Fund Management LLC (“MHR”), an investment recommendations and monitoring the performance of the private equity portfolios. firm that he founded in 1996. MHR manages approximately $5 billion and takes a private Brazilian medium sized companies with a combined enterprise value of over R$ 1,5 billion. Prior to joining the firm, she was Head of Private Equity at Insight Investment, which In Brazil since 1989, he has been active in principal investing, in the US and Brazil, and in equity approach to investing in distressed and undervalued middle-market companies she joined in 2001. Ms Ryan's investment experience began in 1992 and has included identified through its proprietary sourcing network. Prior to founding MHR, Dr Rachesky corporate finance.. He is currently on the board of ABVCAP the Brazilian Venture Capital private equity investing in Europe and the United States. Ms Ryan also serves on a and Private Equity Association and the advisory board of several PE funds. was Carl C. Icahn’s chief investment advisor, after working for three years as an investment number of private equity fund advisory boards. advisor for an affiliate of the Robert M Bass Group. Dr Rachesky currently serves as Non- Executive Chairman of the Board of Telesat Holdings, the 4th largest satellite operator in Stream B Anne Glover, CEO & Co-Founder the world, Loral Space and Communications, a leading satellite services provider and LP Issues AMADEUS CAPITAL PARTNERS manufacturer and Leap Wireless International, the 8th largest mobile telephone company in European technology investor, Amadeus has £460m of funds under management and the US. He currently serves on the board of directors of several other companies. Dr has backed over 60 companies covering computer hardware and software, mobile and Rachesky has served on numerous Bankruptcy Creditors’ Committees. Chaired by: Josyane Gold, Partner fixed communications technologies, clean technologies and medical technologies. Ms SJ BERWIN Glover was Chairman of the British Venture Capital Association (BVCA) from 2004 to Duran Curis, Managing Director Josyane Gold has been a partner in the private equity funds team since 1988. She has a 2005, having been a member of the Council that runs the organisation since 1999, and DRUM CAPITAL wealth of experience that comes from having acted, over a period of 20 years, on well was also a member of Sir David Walker’s private equity working group in 2007. She is Duran Curis, CFA is a senior member of Drum’s Investment Committee. Previously, Mr Curis over 100 private equity and venture funds. Josyane is recognised by Chambers, Legal currently a non-executive director of the UK government's Technology Strategy Board was at HRJ Capital, where he launched and managed the HRJ Special Opportunities Funds, a 500 and Global Counsel as a leading adviser in private equity funds. and chaired the committee on government procurement from SMEs in 2008. She is also series of fund-of-funds focused exclusively on distressed debt, turnaround and restructuring a member of the London Business School’s Private Equity Institute Advisory Board, a investments on a global basis. Prior to joining HRJ Capital, he founded and was Head of the 14.40 member of the Women’s Enterprise Task Force and serves on the board of Optos and US office of LGT Capital Partners. Mr Curis was previously based in LGT’s main office in Glysure. In June 2006 she was awarded a CBE for services to business. In July 2008 Zurich, Switzerland where he led over USD 1 billion of private equity fund commitments. Ms Glover was elected an honorary fellow of the Royal Academy of Engineering. Prior to joining LGT, Mr Curis was with Pacific Corporate Group where he was responsible for FUND OF FUNDS the evaluation, due diligence, negotiation and monitoring of private equity fund investments Are Fund Of Funds Becoming Irrelevant As The Market Hans Lovrek, Partner, COMMENDA on behalf of major institutional investors such as CalPERS, the State of Oregon and the State Corrects? What Is The Business Model For Fund Of Funds For biography please see above. of Washington. In A Contracting Market? Guillermo Borda, Managing Director Aaron Gershenberg, Managing Partner Rory O’Neill, Managing Partner, CEO & CIO BAML CAPITAL ACCESS FUNDS TPG CREDIT MANAGEMENT SVB CAPITAL BAML Capital Access Funds is an experienced private equity fund of funds manager Aaron Gershenberg is the managing partner of the funds management group with SVB Mr O’Neill is the founding partner of TPG Credit Management (TPGC) and has overall which is part of Bank of America's Global Principal Investments Group, which is a management responsibility for the firm including all investment and operational activities. Capital. He joined SVB in 1999 and has over 20 years of private equity investing, financial diversified private equity investment origination unit that invests directly in over 1,000 services and consulting experience. Since raising SVB Capital's first fund with outside TPGC is a global distressed credit investment organisation with a focus on corporate mezzanine, growth, buyouts and venture funds totaling over $12 billion in total assets. distressed opportunities and distressed assets. Prior to founding TPGC, Mr O’Neill was a limited partners in 2000, Gershenberg has helped build a family of proprietary and Mr Borda is the Los Angeles-based partner focusing his efforts on origination, structuring sponsored funds that offer institutional limited partners opportunities to invest in top-tier senior managing director of Cargill Value Investment (now CarVal) responsible for the of new investment opportunities, investor relations, capital formation, and adding corporate distressed business. private equity and venture funds and their portfolio companies. strategic value to the portfolio of funds and companies.

To register: www.icbi-superinvestor.com • Tel +44 (0) 20 7017 7200 • Fax +44 ( 0) 20 7017 7807 • E [email protected] 7 KR2251 Sinvestor 2010:SuperInvestor 08 19/8/10 12:32 Page 8

DAY 17 & 18 November 2010 1&2 Main Conference

15.50 18.35 Chris Masterson Chairman Distressed And Turnaround War Story – A Case Study In Q&A With MONTAGU PRIVATE EQUITY Success Ed Altman, Max L Heine Professor of Finance Chris has over 20 years’ experience of investing in, and of managing Mark Rachesky, President, MHR FUND MANAGEMENT NYU STERN SCHOOL OF BUSINESS unquoted companies. He has worked in private equity since joining 3i in For biography please see above. 1980. He joined HSBC Private Equity in 1991 and was responsible for a or number of deals including Innovex, Schaffner AG, Clydeport and T.M. Group. 16.10 He became Managing Director in 2000 and in 2003 led the Montagu Private Equity buyout Champagne Roundtable Discussions from HSBC where he is now Chief Executive Title to be confirmed These consist of face-to-face informal discussions on topics or Dominic Slade, Managing Partner questions of interest, at tables of about 10 hosted by SuperInvestor 09.30 ALCHEMY PARTNERS speakers. Champagne is served throughout. Please choose from a Dominic joined Alchemy as an Executive in 1998, made Partner in 2001 and was complete list published on the day, including: appointed Managing Partner, Private Equity in 2007. In 2009 he was elected Managing THE ECONOMY Partner of Alchemy. Dominic has led the majority of Alchemy's financial services • Investing In The Mid Market In The Netherlands – transactions and helped establish the Alchemy Special Opportunities Fund and the Indian Marc Staal, AAC Capital Partners Double Dip Or U-Shaped Recovery? Assessing The Development Capital Fund. • Investor Relations – Current Global Macroeconomic Environment And Benjamin Ball Outlook For Consumer Demand Growth 16.30 Afternoon Tea plus: • Lower Mid Market: Attractiveness & Risk - Roger Bootle, DEDICATED LP/GP “SPEED-NETWORKING” Philippe Roesch, AUDA INVESTMENT MANAGERS Founder & Managing Director Meet and match your fund with LPs • Regulatory Challenges - Including The Directive And US/UK CAPITAL ECONOMICS, Author, Regulation – THE TROUBLE WITH MARKETS Arnaud David/Duncan Woollard, SJ BERWIN ctivism – 17.10 • LP A “an economist unusually able to speak with authority - Rhonda Ryan, PINEBRIDGE INVESTMENTS because unlike most of his peers, Bootle spotted that the boom • Advisory Boards – was unsustainable." ACTIVE MANAGEMENT Julian Knott, COGNETAS Robert Peston, Business Editor, BBC Which Active Portfolio Company Management • LP Allocations To PE And Fundraising: Which Funds Will / Won’t Strategies Succeed? – How To Change The Operating Get Raised? – “Roger Bootle is one of the best interpreters of modern Earnings Of A Business Post Acquisition Mark O’Hare, PREQIN capitalism around.” Moderator: • Secondaries – Will Hutton, Executive Vice Chair, THE WORK FOUNDATION Richard Green, Chairman, AUGUST EQUITY Carlo Pirzio-Biroli, DB PRIVATE EQUITY “Roger Bootle is one of the top, practical economists in Richard co-founded August Equity in 2001. He is now chairman of the firm and chairs its • Fund Raising – the financial world but he is not afraid to tackle the bigger, Investment Committee. He previously spent 13 years at Kleinwort Benson (latterly Dresdner Kelly Deponte, PROBITAS PARTNERS Kleinwort Benson) where he started his private equity career. Prior to that, Richard spent deeper questions around the future of capitalism, the role of five years with Coopers and Lybrand where he qualified as a Chartered Accountant. Richard • Due Diligence – markets and government.” is a vice chairman of the Corporate Finance Faculty of the Institute of Chartered Helen Steers, PANTHEON VENTURES Vince Cable MP, Business Secretary, UK Accountants in England and Wales. Richard is a past chairman of the British Venture Capital • Advisory Boards – Association and still represents August Equity on the BVCA’s Mid Market Committee. One of the City of London’s best-known economists, Roger Bootle runs the consultancy, Jonny Maxwell, formerly ALLIANZ Capital Economics, which specialises in macroeconomics. He is also Economic Adviser to Michael Winslow, Founding Partner • Emerging Markets – Deloitte, a Specialist Adviser to the House of Commons Treasury Committee and an Honorary Fellow of the Institute of Actuaries. He was formerly Group Chief Economist of THE NEWDAWN PARTNERSHIP Mounir Guen, MVISION HSBC and, before the change of government, was appointed one of the Chancellor’s panel The NewDawn Partnership is a unique Business Advisory Service focused on delivering • Hedging Private Equity – of Independent Economic Advisers, the so-called “Wise Men”. Roger Bootle was formerly a operational improvements in the Sales & Purchasing aspects of a business, in order to Kishore Kansal, PEFOX Lecturer in Economics at St Anne’s College, Oxford and most of his subsequent career has maximise its profitability and value. Michael has extensive experience in • Value Creation – been spent in the City of London. He has written many articles and several books on telecommunications, construction, healthcare, and the rubber industry and a career monetary economics. Roger’s latest book, The Trouble with Markets, analyses the deep spanning more than 30 years, much of which has been at Board level driving real change in Juan Delgado-Moreira, HAMILTON LANE causes of the recent financial crisis and discusses the threats to capitalism arising from it. His performance. He has worked in the Public Sector for the NHS and Royal Ordnance. Michael previous book, Money for Nothing, correctly anticipated the financial crisis and has been has developed and led purchasing and supply chain teams that became recognised as 19.35 Gala Networking Drinks Reception widely acclaimed. This followed the success of The Death of Inflation, published in 1996, excellent leaders in their field, and have delivered many innovative solutions, coupled with which became a best-seller and was subsequently translated into nine languages. Initially substantial financial benefits to those organisations such as Cable & Wireless, Molson dismissed as extreme, The Death of Inflation is now widely recognised as prophetic. Roger is Coors, Sandvik, Lloyds TSB, Royal Mail Group and Centrica. MAIN CONFERENCE DAY 2 also joint author of the book Theory of Money, and author of Index-Linked Gilts. Roger is a regular columnist for The Daily Telegraph and appears frequently on television and radio. Walter Butler, Managing Partner 18 November 2010 BUTLER CAPITAL PARTNERS 10.15 Coffee Butler Capital Partners is a leading European turnaround and distressed investing firm based in Paris, which invests in special situations such as turnarounds or workouts. In the special situations area, the firm has a long standing expertise in successfully turning around 07.25 10.45 European companies. Prior to founding Butler Capital Partners in 1991, Walter Butler was an Executive Director of Goldman Sachs in New York. From 1986 to 1998, he was in charge of End Investor-only Breakfast privatisation in the media sector, within the French Government. Walter Butler sits on the Hosted by ILPA To be confirmed REGULATION Board of several European companies and is member of the Advisory Board of the French Assessing Recent And Forthcoming Changes To The Sovereign Fund (Fonds Strategique d’Investissement ( FSI).” 08.00 Morning Coffee Global Regulatory Landscape – Examining The Burden Fabio Sattin, Chairman & Founding Partner Of Compliance, The Impact On Cross-Border Investing PRIVATE EQUITY PARTNERS 08.25 And How It Will Affect GPs And LPs Fabio Sattin was Chairman of the EVCA from 1993-1994; from 1990-2006 member of the Moderator: Josh Lerner board of AIFI (the Italian Private Equity and Venture Capital Association); from 1995-1997 Morning Chairman Chairman of the Supervisory Board of the Chase Gemina Polska Sp z oo (Warsaw); 1996- Jon Moulton, Chairman, BETTER CAPITAL Jacob H Schiff Professor of Investment Banking 2003 member of the Supervisory Board of the Slovak Post Privatisation Fund (Bratislava), Jon Moulton, Chairman of Better Capital, formerly Managing Partner of HARVARD BUSINESS SCHOOL representing the EBRD; 2000-2006 member of the Advisory Committee of the Italian Alchemy, a UK-based private equity firm, which invested over £2 billion Josh Lerner’s position is a joint appointment in the Finance and the Stock Exchange; and since 2006 member of the UE Expert Group on PE &VC. He is with an emphasis on dealing with troubled companies and distressed Entrepreneurial Management Areas. He graduated from Yale College with a Professor of Private Equity and Venture Capital at Bocconi University, Milan and previously debt. He is a Chartered Accountant, a CF and Fellow of the Institute for Special Divisional Major that combined physics with the history of technology. held courses at Ca’ Foscari University of Venice, LIUC University and CUOA. In 2009 he Turnaround Professionals. Previously, he worked with Citicorp Venture He worked for several years on issues concerning technological innovation was granted the “Cafoscarino of the year 2008” award by ALUC – Association of Venice Capital in New York and London, Permira and Apax. He is a trustee of the and public policy, at the Brookings Institution, for a public-private task force in Chicago, and Ca’ Foscari Graduates. He is Co-author of “Private Equity and Venture Capital”, the officially UK Stem Cell Foundation and an active angel investor. He is non-executive Chairman of on Capitol Hill. He then earned a PhD from Harvard's Economics Department. Much of his adopted text by many university and MBA courses in Italy, now at its fourth edition and FinnCap, the stockbroker. research focuses on the structure and role of venture capital and private equity organisations. author of many publications in Italy and abroad. (This research is collected in three books, The Venture Capital Cycle, The Money of Invention, 08.30 and the recent Boulevard of Broken Dreams.) He founded, raised funding for, and organises Laurent Ganem, Founder & President, G SQUARE two groups at the National Bureau of Economic Research: Entrepreneurship and Innovation Laurent founded G Square in 2007. He started his career at Baxter International in the US. Policy and the Economy. He is a member of a number of other NBER groups and serves as In 1988, in association with a French public university he founded and managed OVI, a CREATORS OF ALPHA co-editor of their publication, Innovation Policy and the Economy. In recent years his course, private company specialised in life science technology transfers, and consulting. In 1994, "Venture Capital and Private Equity" has consistently been one of the largest elective MBA he joined Paris-based Apax Partners as Partner in charge of developing the healthcare Private Equity: Separating The Alpha Producers From The courses at Harvard Business School. He also teaches a doctoral course on entrepreneurship investment practice. He carried out numerous investments in Europe and in the US, Beta Grazers and in the Owners-Presidents-Managers Program, and organises an annual executive course ranging from early stage to growth and buy-outs, as well as exits (including IPOs on Charles Baillie, Global Co-Head Alternative Investments on private equity in Boston and Beijing. He has led an international team of scholars in a European and US stock markets). He was a member of the Investment Committee and multi-year study of the economic impact of private equity for the World Economic Forum. He the Operating Committee of Apax Partners. & Manager Selection, GOLDMAN SACHS is the winner of the 2010 Global Entrepreneurship Research Award. Charles is co-head of the Alternative Investments and Manager Selection Dominic Slade, Managing Partner, ALCHEMY PARTNERS (AIMS) Group and co-head of the Global Portfolio Solutions (GPS) Group in Urs Wietlisbach For biography please see above. the Investment Management Division. The AIMS Group focuses on evaluating and investing in leading private equity, hedge-fund and long-only Partner & Executive Vice Chairman managers around the world, and represents the Private Equity Group, PARTNERS GROUP 17.55 Hedge Fund Strategies and Global Manager Strategies businesses. The GPS Group Urs Wietlisbach is a founding Partner of Partners Group, serves as an focuses on customised asset allocation, risk management, portfolio construction and Executive Vice Chairman, and is a member of the business development investment advisory solutions for institutional and individual investors. Together, these committee. He is also a member of the global portfolio investment MID MARKET DEALS businesses represent over $100 billion in assets under management, with a team of over committee. He was initially responsible for the firm's partnership investment How Can You Differentiate Yourself To Demonstrate You 250 professionals working internationally. Charles is a member of the Investment activities and was instrumental in building Partners Group's private equity funds portfolio Are Adding Value In A Brutally Competitive Mid Market Management Division Operating Committee, serves on each of the AIMS and GPS and a global industry network. Later, he also focused on business development investment committees. responsibilities, first in Europe, and subsequently in the US and the Asia-Pacific region. Prior Environment? What Can GPs Do To Win Deals, Now to founding Partners Group, he was an executive director at Goldman Sachs where, after Upper Mid Market Firms Have Moved Into The Space? 08.55 assignments in London and New York, he was appointed head of the firm's institutional Moderator: clients business in Switzerland. Rod Richards, Managing Partner NEW ACTIVE MANAGEMENT Didier Millerot, Deputy Head of Unit, Asset GRAPHITE CAPITAL MANAGEMENT Management, DG Internal Market & Services Rod is Managing Partner of Graphite Capital, a mid-market private equity group, with funds Steering Portfolio Companies And Motivating Management Teams In A Tough Economic Environment – EUROPEAN COMMISSION under management of £1.2 billion. Graphite is both a direct investor in mid-market UK buy- Didier Millerot has been Deputy Head of the Asset Management unit, outs and manages an investment trust listed on the London Stock Exchange investing in What Has Been Learned And What Have Been The Directorate General for the Internal Market and Service at the EC funds managed by third parties. In 2007 Graphite raised a £550 million fund investing in Biggest Challenges? Commission since September 2007. His particular responsibilities include UK mid-market buy-outs which is 25% invested. Rod joined Graphite in 1986 and has been the conception, negotiation and implementation of EU asset management Managing Partner for the last twelve years, leading the Management Buy-Out of Graphite Roberto Quarta legislation (UCITS, AIFM). From 2002 to 2007, he was legal advisor working on better from F&C in 2001. Prior to joining Graphite Rod was a consultant for McKinsey & Co Chairman Europe & Operating Partner regulation issues in Directorate General Internal Market. Before that, from 1997 to 2002, having previously worked for Bell & Howell Limited. CLAYTON DUBILIER & RICE he worked as a case - handler, working on the free movement of goods in DG Internal Jennifer Dunstan, Partner, Fund Investor Relations Mr Quarta has been with CD&R for nine years and is chairman of CD&R Market. And from 1994 to 1997, Didier served as International officer in DG Employment, Europe. Based in London, he plays the lead operating role for two which included relations with the EEA. He is a lawyer by training with French and 3I INVESTMENTS portfolio companies as chairman of the supervisory board of Rexel and Belgian nationalities. Prior to this, Jennifer was a Partner in the UK Buyouts team and Head of Consumer in the chairman of Italtel, helping the respective management teams drive key UK. Since joining 3i in June 2005 she has co-led the acquisition of the Mayborn Group and operational and corporate initiatives. Previously, Mr Quarta led the successful Richard Wilson, Senior Partner co-led the take privates of Telecity Group and Redbus to create TelecityRedbus. In restructuring and reorganising of BBA Group, serving as chief executive officer from APAX PARTNERS, Chair, EVCA November 2007 she was responsible for the acquisition of Agent Provocateur. She currently 1993 until 2001, and as chairman from 2001 until 2006. Mr Quarta also held various Richard Wilson has followed a career in private equity since 1995, when he sits on the boards of Mayborn and Hobbs. Prior to joining 3i Jennifer spent nine years at senior leadership positions with BTR plc and served on the board of directors. He is a joined Apax Partners from INSEAD. Initially he invested in venture and Terra Firma Capital Partners and Nomura’s Principal Finance Group (PFG), where she was non-executive director of BAE Systems plc and has served as a director of Azure growth capital deals, then focused on buyouts, leading the Tech and Managing Director. In addition to numerous portfolio responsibilities, major deals that she Dynamic Corp., PowerGen, plc and Equant NV. Mr. Quarta is a member of the INSEAD Telecoms sector team globally and sitting on Apax's Investment, Exit and led there include the privatisation of Angel Train Contracts and acquisition of Inn Partnership. Country Advisory Board. Portfolio Committees. Recent deals included Inmarsat, the satellite services provider; TDC, the Danish telecoms incumbent; and Weather investments, the Jonathan Meeks, Managing Director Stuart Gent mobile network operator. He also served on the boards of a number of portfolio TA ASSOCIATES Operating Partner companies.Richard changed roles in 2009 and now chairs Apax's Tech & Telecom Advisory John focuses on investments in growth companies in Europe, India and other emerging BAIN CAPITAL Board, is the Chairman of the European Venture Capital and Private Equity Association markets. He is a Director of AVG Technologies, eCircle, Fotolia Holdings, GlobeOp Financial (EVCA), is a Council Member of the British Venture Capital and Private Equity Association Services and Radialpoint. John also served on the Boards of Creditex, Lava Trading, Mr Gent joined Bain Capital in 2007 and is an Operating Partner. Prior to joining, Mr Gent was Managing Director of Avis UK and a member of (BVCA), and chairs the BVCA's Research Advisory Board. He is a member of the Investment Monotype Imaging, Mythic Entertainment, OpenLink Financial and SmartStream Committee of Gonville & Caius College, Cambridge and a Trustee of the Apax Foundation. Technologies, and was actively involved in TA’s investments in Datek Online Holdings, Idea the Avis Europe Executive Board. Previously, Mr Gent was a Partner at Cellular and The Island ECN. Prior to joining TA in 1997, he was a Financial Analyst in the Bain & Company where he worked in a variety of industries. Katharina Lichtner Information Services Group at Robertson Stephens. Jan Ståhlberg Managing Director & Head of Research Kai Jordahl, Senior Partner, CAPMAN Deputy CEO, Senior Partner CAPITAL DYNAMICS Kai Jordahl is the Deputy Head of the Buyout team at CapMan, one of the leading Katharina has been instrumental in developing the investment and post- EQT PARTNERS investment monitoring skills of Capital Dynamics. Katharina is a member alternative asset managers in the Nordic countries and Russia. CapMan manages private Mr Ståhlberg is deputy CEO of EQT Partners and was part of the original equity funds with €3.6 billion in total capital and has two business areas Private Equity and of the board of directors of Capital Dynamics as well as a member of team that founded EQT in 1994. Previously, Mr. Ståhlberg worked at the Executive Committee. She is also a board member of the Real Estate. With locations in Helsinki, Stockholm, Copenhagen, Oslo, Moscow and Ovako Steel, which he joined in 1985 and worked in various positions. In Luxembourg, CapMan employs 150 people. Mr Jordahl joined CapMan in 2004 and he has International Private Equity and Venture Capital Board as a representative of the 1991, Mr Ståhlberg was appointed Senior Vice President of Finance and (EVCA) European Private Equity and Venture Capital Association. Previously, Katharina a key role in setting up and heading CapMan’s operations in Norway and in developing member of the Executive Management of the Ovako Steel Group. CapMan’s extensive Active Ownership Program. was a consultant at McKinsey & Company.

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DAY 18 November 2010 2 Main Conference

11.25 P Olivier Sarkozy, Managing Director David Lindstrom, Managing Director THE CARLYLE GROUP METLIFE INVESTMENTS Mr Sarkozy is head of the investment team at Carlyle Global Financial For biography please see page 2. THE NEW “NORMAL” Services Partners. Since joining Carlyle, Mr Sarkozy and his team have looked at over 100 potential investment opportunities, closing one transaction, an Ludwik Sobolewski, President What Is The New “Normal” In Private Equity And Where approximately $75mm investment in Boston Private Financial Holdings, a Do We Go From Here? private banking and asset management depository institution with operations WARSAW STOCK EXCHANGE Guy Hands, Chairman & CIO throughout the United States. In addition, Mr Sarkozy and his team are in the process of Ludwik Sobolewski started his career at the Law and Administration Faculty of the developing and launching a new asset management business aimed at addressing the Jagiellonian University progressing on to become Advisor to the Minister, Head of the TERRA FIRMA needs of the bank-owned life insurance market. Prior to joining Carlyle, Mr Sarkozy was Office of the Council of Ministers of the Republic of Poland from September and Guy Hands is Terra Firma's Founder and sits on the General Partners’ Global Co-Head of the Financial Institutions Group at UBS Investment Bank, where he Director of the Organizational Department. In May 1994, he became Advisor to the boards. He started his career with Goldman Sachs International where he worked on many of the largest mergers in the US financial industry. He joined UBS in Management Board of the Warsaw Stock Exchange. And he has been President of the went on to become Head of Eurobond Trading and then Head of Goldman January of 2003, after spending 11 years at Credit Suisse First Boston. Warsaw Stock Exchange and CEO since 28 June 2006. From June 2006 to June 2008 Sachs’ Global Asset Structuring Group. Guy left Goldman’s in 1994 to he was Chairman of the Supervisory Board of the National Depository for Securities, establish the Principal Finance Group (PFG) at Nomura International plc Rod Richards and from June 2008 until today, Vice-Chairman of the Supervisory Board. which acquired 15 businesses with an aggregate enterprise value of €20 billion. Guy led the spin out of PFG to form Terra Firma in 2002. Guy was elected a Global Leader of Managing Partner Tomorrow of the World Economic Forum in 2000 in recognition of his achievements. He is GRAPHITE CAPITAL a Bancroft Fellow of Mansfield College, Oxford and a member of the University of Oxford For biography please see page 8. 16.55 Chancellor’s Court of Benefactors. Additionally, Guy is a Fellow of the Duke of Edinburgh’s Award Scheme. Tom Attwood, Managing Director, ICG LOWER MID MARKET 11.55 Tom is Chairman of the Executive Committee and on the board of Intermediate Capital Managers Limited, ICG’s fund management subsidiary. Who Are The Real Success Stories In The Lower Mid Speaker and title to be confirmed He is also a member of the Investment Committees and is responsible for Market? – Exploiting Local Networks In Underserved the company’s fund investors. Prior to joining ICG in 1996, Tom worked with ICG’s founders in raising the initial equity for the company in 1989 and then Sectors And Successful Strategy Differentiation In The 12.25 served as a non-Executive Director on ICG’s board of directors from 1993 Small Cap Sector onwards. Previously, Tom was a Director of James Capel & Co for eight years where he was Moderator: responsible for the growth of their IPO business and, in particular, LBO floatations in the Sasha van de Water, Managing Director WHO WILL SURVIVE? European market. KEYHAVEN CAPITAL PARTNERS Who Is Really Sustainable In European Private Equity? Sasha van de Water is co-founder of Keyhaven Capital Partners, a London-based Which GPs Will Still Be Here In Five Years' Time? 15.10 independent boutique advisory and management company focused on providing a Chairman: quality product and service to a select number of institutional investors. Sasha has 16 years experience in the European private equity market, most recently at AXA Jeremy Coller, PRIVATE EQUITY MODEL Investment Managers where she was Managing Director responsible for setting up CIO Assessing How The PE Model Will Transform - To What and developing the European private equity fund of funds programme. Prior to AXA, COLLER CAPITAL she was with South Street Advisors and worked as a consultant for Cambridge Jeremy Coller founded the business in 1990. Prior to this, Jeremy spent Extent Is The Current Downturn Cyclical Or More Associates in London and Boston. five years at Imperial Chemical Industries (ICI) Investment Management, Fundamental, And What Will Be The Critical Changes? where he pioneered the acquisition of private equity secondaries. He Moderator: Thomas Pütter, Former CEO and Chairman Günther Skrzypek, Managing Partner, AUGUR CAPITAL began his career as a public equities investment analyst at Fidelity Günther Skrzypek has been Managing Partner of Augur Capital Group since 2003. Before International Investment Management in London. In 2009, Jeremy won PEI’s ‘Private ALLIANZ CAPITAL PARTNERS this he was responsible for the German business of AXA Investment Managers. Equity Leader’ award, and was recently voted one of the three most influential people Thomas Pütter is formerly Chairman Allianz Capital Partners (Allianz Group’s Besides, as a member of the global executive board he was directly responsible, among in private equity by both Financial News and Real Deals magazines. entity for alternative asset investing - Munich / London) a post he held from others, for AXA IM Netherlands, and institutional transactions in northern Europe. From Sept 2009.1998 – 2009 he was Chief Executive of Allianz Capital Partners 1997 to 1998 he was responsible for Schroeder Investment Management’s asset- John Hess Group. 2006 - 2009 he also was Managing Director, Allianz Alternative management transactions in German speaking Europe as well as Eastern Europe. Before CEO Assets Holding GmbH. Prior to joining Allianz, he was Executive Director, this he was responsibile for the asset management business of JP Morgan for Germany Goldman Sachs International, London 1992-1998 and Chief Financial Officer and Central Europe and was appointed to the European management board of JPMIM. ALTIUS ASSOCIATES of the Matuschka Group, 1988-1992. Prior to Matuschka Thomas held senior positions in John Hess is a co-founder of Altius and has grown Altius from start-up Investment Banking with Swiss Bank Corporation International and Deutsche Bank Capital Lance Mansbridge, Managing Partner, BAY HILLS CAPITAL to a global firm with over $19 billion under advice and management, Markets. Since 2005, Thomas has been member of the Commission on Growth and Lance has over ten years of experience in private equity including fund investing, limited with offices in London, Richmond VA and Singapore; and 32 Innovation of CDU’s Economic Council. In 2006 Thomas participated as an observer in the partner advisory and secondary acquisitions. Prior to founding Bay Hills Capital, Lance professionals. Mr Hess has been involved in the financial services EU Commission’s Alternative Investment Funds Expert Group culminating in its report was a Vice President and Senior Private Equity Consultant with Strategic Investment sector for 35 years, focusing on private equity for 25 years. published in July 2006. Between 2005 and 2007 he served as Chairman of the German Solutions, Inc. (“SIS”) where he had lead private equity responsibility for numerous His experience in private equity ranges from assisting general partners with fund Private Equity and Venture Capital Association. (BVK). In 2007 Thomas was invited onto the clients including corporate and public pension plans, university endowments, trusts and formation to fundraising, as well as to providing advice on private equity asset Advisory Board for Environmental Technology of the German Ministry of the Environment. high net worth families. allocation and manager selection. Mark Redman, Senior Managing Director Europe Blair Jacobson, Partner, CITI PRIVATE EQUITY Maarten Vervoort OMERS PRIVATE EQUITY Mr Jacobson is Managing Director within Citi Alternative Investments. He joined CPE in Partner Fund Investments Europe Mark has over 15 years of mid-market private equity experience across January 2001 and moved to the UK in 2005 to establish CPE’s European presence. Mr ALPINVEST PARTNERS the UK and Continental Europe, initially with Grant Thornton in London, Jacobson is now responsible for managing CPE's EMEA business and runs CPE's London AlpInvest Partners is a leading global private equity investor with over and then during more than 12 years with 3i. He spent seven years office. He serves on the investment team of Citigroup Capital Partners II, a $3.3 billion € 40 billion of capital raised and committed to the asset class. Maarten is building the firm’s new Amsterdam office, covering the Benelux region private equity fund; Citigroup Mezzanine Partners, a $700 million global subordinated debt responsible for the European, Middle East and African Fund program. and developed 3i’s market entry strategy for Turkey, before recently fund; and, Citi’s fund of fund businesses. Mr. Jacobson had prior investment banking and Furthermore he is voting member of the Global Investment Committee. joining OMERS Private Equity in 2009, where Mark is leading the development of a M&A experience in a broad range of industries, most recently at Lehman Brothers. Maarten joined AlpInvest Partners in 1999 from PricewaterhouseCoopers Management direct investment capacity for OMERS in Europe. Consultants (PWC). Hugh Langmuir 17.30 Adalbjorn Stefansson Managing Partner CINVEN Head of Buyout Fund Investments Hugh joined Cinven in 1991 and became Managing Partner in 2009. SKANDIA LIFE He has been involved in a number of transactions at Cinven including CHINA Skandia Life is a Swedish provider of pension savings solutions with Amadeus, Aprovia, MediMedia, Coor and Camaieu. Before joining Exploiting China’s Vast Opportunity Set – Overcoming AUM of EUR 30 billion. Skandia Life has a target allocation of 10% to Cinven, Hugh worked at Bain & Company and Citi in London and Paris. private equity; 8% to buyouts and 2% to venture capital. Prior to joining The Challenge Of A Limited Number Of Managers With Skandia Life, Adalbjörn was Head of Private Equity at Länsförsäkringar Jan Johan Kühl, Managing Partner Exiting Experience, Oversized Currency Funds And Liv, another Swedish institutional investor. He started his career as a strategy POLARIS PRIVATE EQUITY Alignment Of Interest Issues consultant for the Boston Consulting Group in Stockholm. Jan Johan Kühl joined Polaris as managing partner in April 2007. Prior to Moderator: joining Polaris, he was a Group Director at Icopal, where he started in Christophe Bavière 2000. He was previously employed as Equity Analyst with Gudme Ludvig Nilson, Managing Director CEO and Managing Partner Raaschou Investment Bank (1989-1993), as a Project Manager with JADE INVEST strategy consultants Aarsø Nielsen & Partners (1993-1995) and as CEO Jade Invest is an independent investment manager with an exclusive focus on private IDINVEST PARTNERS of Monarflex (1995-2000). equity fund and co-investments in mainland China. Founded in 2005, Jade Invest is Christophe Bavière joined the company in January 2001 as head of Fund owned and managed by individuals with long experience and complementary of Fund investments. He became CEO of Idinvest Partners in July 2001. Uli Grabenwarter, Former Head Equity Fund Investments backgrounds in China’s private equity market, ranging from former general partners to Idinvest Partners spun off from Allianz in May 2010. Idinvest Partners is a entrepreneurs and management consultants. Prior to co-founding Jade Invest, Ludvig leading French PE firm in Europe and manages over 2.5 billion euros of EUROPEAN INVESTMENT FUND was a strategy consultant at PricewaterhouseCoopers where he focused on assets. Mr Bavière actively heads all investment activities and chairs all Investment Uli Grabenwarter is currently working on an 18 month research project on commercial due diligence for private equity clients. Ludvig has spent over a decade in Committees. Prior to joining Idinvest Partners, Mr Bavière held senior positions within responsible investing in private equity and VC in collaboration with IESE China working for both local and international firms and is fluent in Mandarin. Allianz Group, as Head of Fixed Income with €20 bn under management (1990-1998) Business School and a family offices foundation. Prior to his work at the and Head of Balanced Portfolio Management with €45 bn under management (1998- European Investment Fund, Uli worked at the European Investment Bank and at PriceWaterhouseCoopers. He is author of the book “Exposed to the Stuart Schonberger 2001). In this regard, he was instrumental in introducing private equity as a separate Managing Director, Head of Investor Relations asset class within the balanced portfolios. He also sponsored the creation of the Fund J-Curve: Understanding and Managing Private Equity Fund Investments.” of Fund business unit at his arrival at Idinvest Partners. Christophe Bavière is President CDH INVESTMENTS of the Private Equity Commission at AFG, French Asset Management professional 15.50 Afternoon Tea Stuart Schonberger is one of the founding partners of CDH China Management association. He also chairs the FCPI committee. From 2004 to 2008, Christophe Company Limited (“CDH Investments”). He is the principal liaison between the Bavière attended the board of AFIC, the French private equity professional association, With DEDICATED LP/GP SPEED NETWORKING investment team and the firm’s nearly 100 global institutional investors and regularly where he was President of the Legal and Tax Commission. Christophe also advises Meet and match your fund with LPs. participates in investment team meetings. CDH Investments is an international US$3 the "General Secretariat of National Defense" on economic intelligence topics. He was billion alternative investment fund manager focused on China founded in 2002 with elected "PE Personality of the year" at the Capital Finance awards in 2007 by Capital offices in Hong Kong, Beijing, Shanghai and Shenzhen. Notable investments include Finance and Les Echos. some of China’s leading companies, such as Mengniu Dairy, Focus Media and Belle Stream A Company. Prior to the formation of CDH Investments, Schonberger was a Vice China, Lower Mid Market & Central & Eastern Europe President in China International Capital Corporation’s private equity group. 13.05 Lunch Gabriel Li Featuring VIP Lunch Tables & Managing Director & Investment Committee Member 16.20 ORCHID ASIA GROUP MANAGEMENT Orchid Asia Group Management is a private equity firm which has been investing in Q&A with Roger Bootle, Founder & Managing Director CENTRAL & EASTERN EUROPE China and Asia for over the past 10 years. Gabriel Li led the first round investment in CAPITAL ECONOMICS, Author, THE TROUBLE WITH MARKETS Ctrip International and Eachnet (sold to EBAY) for Orchid Asia and is also currently the Twenty Years Of Private Equity In Central And Eastern Vice Chairman of the Board and Director of Ctrip International (NASDAQ: CTRP), the Europe largest travel reservation services company in China. Prior to Orchid Asia, Mr Li was a Managing Director at the Carlyle Group in Hong Kong, overseeing Asian technology 14.30 Moderator: investments. From 1997 to 2000, he was at Orchid Asia’s predecessor, where he Robert Manz, Managing Partner & Board Member made numerous investments in China and North Asia. Previously, he was a ENTERPRISE INVESTORS management consultant at McKinsey & Co in Hong Kong and Los Angeles. DOWN-CYLCE OPPORTUNITY? Enterprise Investors is a leading private equity and venture capital fund management Whatever Happened To The Great Opportunity At The company in Central and Eastern Europe which has invested €1.3 billion in 120 companies Joe Zhou in the region. Mr Manz is one of the longest-active professionals in the private equity Managing Partner Bottom Of The Cycle – Will It Ever Arrive? industry in CEE, with twenty years investment experience. Mr Manz joined Enterprise Moderator: Investors as one of its first investment professionals in 1990 and he has made KEYTONE VENTURES investments in the areas of pharmaceuticals, telecommunications, retailing, internet, Joe Zhou is one of the most active and successful venture capitalists in China, with John Singer strong expertise in the clean tech, technology, media and consumer sectors. He made Chairman printing, consumer banking, packaging, chemicals, and other industries. Mr Manz is also the President of the Polish Private Equity Association. Since 2003, he has been some of the first substantial venture investments in China in online gaming, payment, ADVENT INTERNATIONAL EUROPE Chairman of the Central and Eastern Europe Task Force of the European Private Equity TV home shopping and TV media. He was named a Top Ten Venture Capitalist by the John came into the private equity industry almost twenty-five years ago via and Venture Capital Association (EVCA). Between 1999 and 2003, Mr Manz was a China Venture Capital Forum in 2000, 2001, 2005, 2006 and 2007, and VC of the Year in an education of corporate finance in merchant banking, strategic consulting member of the Board of Directors of EVCA. 2005 by Top Capital. While at Softbank China Venture Capital, he was significantly world-wide with McKinsey and several years of carrying out turn rounds in involved in the investment in Shanda which today holds the record of the highest return a wide variety of industrial and service businesses, including quoted companies. In 1993 venture investment in terms of dollar amount in China. Joe was also involved in the John was Chairman of the European Venture Capital Association and continues to work Joanna James, Managing Director, ADVENT INTERNATIONAL investment in Acorn International, the largest TV shopping company in China. closely with it on committees. He also moved to Advent International in that year where Joanna James is Co-Head of Advent's investment activities in Central and Eastern he is now Chairman of Advent International Europe, and therefore continuing to invest Europe. She has over 25 years of private equity experience, with a strong focus on throughout the European Continent including the UK with a focus on the business buyouts and growth equity investments. Prior to joining Advent, Joanna worked for services and media sectors. Kleinwort Benson Development Capital, where she was responsible for investments in the U.K. and also developed the firm's private equity activity in Spain. She began her Stefan Hepp career with 3i, the UK's largest venture capital firm. Founder & CEO Henry Potter, Partner Investments, ALPHA ASSOCIATES SCM STRATEGIC CAPITAL MANAGEMENT Henry Potter joined Alpha Associates in September 2008 from the European Bank for Previously to joining SCM, Dr Hepp was with Salomon Brothers and Reconstruction and Development (EBRD) in London. Henry is responsible for raising Morgan Stanley in London and Zurich. Most recently he was a member and investing Alpha's private equity funds of funds in eastern Europe. He has of the executive board of Morgan Stanley Switzerland, where he was extensive experience investing in primary fund investments, secondary fund responsible for institutional clients. He serves as a consultant to major investments, and direct private equity investments in the region. Before joining Alpha, pension funds as well as the World Bank and is a member of the Henry worked at the EBRD for 14 years and was responsible for a number of fund and examination board of the Schweizer Fachschule für Personalvorsorge, an institution direct investments into financial institutions and companies in Central & Eastern that offers the Swiss diploma for pension fund managers. Europe and Russia/CIS. As Senior Banker, he helped to build EBRD's private equity funds investment program into the largest in the region.

View from Hotel Crillon

To register: www.icbi-superinvestor.com • Tel +44 (0) 20 7017 7200 • Fax +44 ( 0) 20 7017 7807 • E [email protected] 9 KR2251 Sinvestor 2010:SuperInvestor 08 19/8/10 12:32 Page 10

DAY 18 & 19 November 2010 2&3 Main Conference

16.20 - 18.20 18.20 Stream B EXITS, PORTFOLIO COMPANY DEBT & Champagne Roundtable Discussions “UNMENTIONABLES” STRATEGY & PRACTICE A Toolbox For Adapting Your Private Equity Business To These consist of face-to-face informal discussions on topics or questions 16.20 The New World of interest, at tables of about 10 hosted by SuperInvestor speakers. Chaired by: Champagne is served throughout. Please choose from a complete list Simon Thornton, Managing Director, PEARONLINE published on the day, including: EXITS For biography please see page 2. • VC in Europe as an Asset Class Will Exit Routes Be Significantly Different In Future? – Ralph Guenther, BMP Where Will Realisations Come From And How Will The Besides hearing from speakers in topical panel sessions, participants • Value Creation Average Company Get To Liquidity? will themselves take part in interactive roundtable discussions, led by Stuart Gent, BAIN CAPITAL Moderator: panellists, which feed into further debate. This is interactive learning, • Allocation to Private Equity Guy Semmens, Partner on critical subjects, at its very best. Thomas Pütter, formerly ALLIANZ ARGOS SODITC • Distressed Investing Guy Semmens joined Argos Soditic in 1996 and heads the Swiss operations. In Back after its much-lauded launch in 2009, this single-module stream Jon Moulton, BETTER CAPITAL addition to his primary investment role, he is also responsible for group investor will give invaluable practical insights into the development of private • Risk & Return relations and fundraising. Before Argos Soditic, Guy was part of the management buy- equity firms. The objective is to give delegates useable help in thinking Josh Lerner, HARVARD BUSINESS SCHOOL out group at Clifford Chance and member the EVCA working committee that about how they address the impact of the downturn in private equity formulated the "Reporting and Valuation Guidelines" for private equity firms. Argos • Which Funds Will / Won’t Get Raised Soditic has won Swiss Private Equity House of the Year (Acq Magazine) 2008 and markets on the development of their firms. To achieve this, the Strategy Guy Semmens,ARGOS SODITIC Western European Private Equity House of the Year (Acq Magazine) 2009. and Practice stream will alternate three 20 minute panel discussions • Terms & Conditions with three 20 minute roundtables. Each of the speakers/moderators will William Gilmore Maarten Vervoort, ALPINVEST lead a small roundtable discussion after each panel. • Advisory Boards Investment Director – Private Equity Billy Gilmore, SWIP SCOTTISH WIDOWS INVESTMENT PARTNERSHIP 16.20 – 16.40 Panel • Lower Mid Market/Growth Capital William has 20 years’ experience in private equity and has been at Scottish Widows Investment Partnership ( SWIP ) for ten. He heads up the private equity team, and is 16.40 – 17.00 Roundtable Discussion Wol Kolade, ISIS responsible for making investments in private equity funds globally. The private equity • Opportunities at the Bottom of the Cycle team manages more than £1.5bn in private equity commitments in over 100 fund 1. Prospects For Selling Your Current Strategy To Sasha van de Water, KEYHAVEN investments. William is also a member of the advisory committees of a number of private equity funds and a member of BVCA’s Limited Partner Advisory Board. Prior to (Cynical, Overworked And Capital-Constrained) LPs • Title to be confirmed joining SWIP in 2000, William worked for Murray Johnstone Private Equity for ten years, • Fund raising prospects in a competitive environment Hans Albrecht, NORWIND starting as an investment manager before being promoted to investment director. • Maintaining existing investor loyalty and standing out in the search • LPs’ Capacity to Invest Wol Kolade for new investors Stefan Hepp, SCM Managing Partner • Alternative fund structures and funding sources • Emerging Markets & Risk – Scott Foushee, PINEBRIDGE Moderator: Peter Flynn, Founder, CANDELA CAPITAL ISIS 19.30 Wol joined ISIS in January 1993 and his role encompasses overall responsibility for the Pete Flynn has 24 years’ experience in the City and in Finance. Pete started his own strategic development of ISIS, and active involvement in investments. Wol initially placement firm, Candela Capital, in 2003 and since then has helped clients raise over trained as an engineer and spent three years with Barclays in various head office roles $1bn of assets. The firm focuses on smaller clients in private equity, venture capital Gala Networking Drinks Reception For Speakers & before joining ISIS. Wol is Chairman of the BVCA's - British Private Equity and Venture and real assets. Prior to Candela Capital, he worked at Pantheon Ventures, Delegates At The Magnificent And Historic Hotel Crillon. Capital Association - Responsible Investment Advisory Board, that advises the BVCA InvestorForce, Flemings and Rothschild. Council on how the industry should approach the important environmental, social responsibility and governance agenda. He was previously Chairman of the BVCA in Christiian Marriott, Investor Relations Director 2007, and a Council Member from 2002 - 2009. He is a non-executive Director of the BARCLAYS PRIVATE EQUITY Social Finance Board and also a Governor and Council Member of the London School Christiian Marriott is responsible for Fund Raising and Investor Relations. Before of Economics and Political Science, chairing its Audit Committee. joining Barclays Private Equity in 2007, Christiian was Investor Relations Director for Mezzanine Management, with responsibility for structuring and marketing mezzanine Plus speaker to be confirmed. funds investing across Europe and in the US. Christiian began his career in 1992 as a financial journalist for Acquisitions Monthly, where he became Deputy Editor. He subsequently joined Campbell Lutyens, where he worked on a range of private equity 16.55 advisory assignments, including direct investments and fundraisings for buy-out, venture and mezzanine funds. WALL OF DEBT Michael Hewett, Head of Investor Relations, TERRA FIRMA How Will The Wall Of Debt Play Out In Terms Of Returns Michael is Investor Relations Director for Europe, Middle East and Australia. Prior to joining Terra Firma in 2004, Michael was Principal and Director at Atlantic Pacific And Ownership Relating To Deals Done 2/3 Years Ago Hotel Crillon And What Are The Opportunities? How Big Is The Debt Capital. He was previously Vice President, Private Equity Group at Morgan Stanley. Problem, How Will Banks And GPs Respond ? Rob Wright, Partner, PANTHEON VENTURES Rob Wright joined Pantheon Ventures in 1993 and has17 years of private equity Hans Albrecht experience. He is a senior member of Pantheon’s European primary investment team, MAIN CONFERENCE DAY 3 Founder & Partner with a particular focus on portfolio management and client reporting. Rob has more NORDWIND CAPITAL than 25 years’ experience in the financial services industry. Before joining Pantheon in 19 November 2010 Prior to founding Nordwind Capital, Hans was co-founder and co-head of Carlyle 1993, he was finance director of a mortgage and financial services company and prior Europe, the first non-American fund of The Carlyle Group. In this capacity, Hans has to that he ran a money market fund. invested € 347 million in four transactions. Even after leaving Carlyle in 2002, Hans 08.00 Morning Coffee remained responsible in particular for the investments in Honsel and Messer Eutectic 17.00 – 17.20 Panel Castolin. In the meantime, all these investments have returned two times the original investment. Before co-founding Carlyle Europe Partners in 1997, Hans was managing 17.20 – 17.40 Roundtable Discussion 08.25 partner of IMM Industrie Management München, one of the leading German private equity companies at that time, where he amongst others implemented a very Chairman successful buy & build strategy in the office systems distribution area. 2. Adapting Your Investment Strategy To The LP Famine Vince O’Brien, Director, MONTAGU PRIVATE EQUITY • Executing current strategy with smaller funds Vince O’Brien is a director of Montagu Private Equity and has worked in Ian Gilday • New investment approaches to capitalise on the existing the private equity industry for over 20 years. A member of Montagu’s management and investment committees, he is currently responsible for Managing Director, Head Leveraged Capital Markets Europe, environment all aspects of Montagu’s investor relations and fundraising activities. GOLDMAN SACHS • Rethinking value drivers in the private equity cycle Prior to joining Montagu in 1993 he worked as a corporate finance Ian is head of the European Syndicate and Leveraged Capital Markets desks. He Moderator: advisor with Coopers & Lybrand, focusing on advising management serves as a member of the firm's Credit Markets Capital Committee and joined teams looking to lead buyouts. Montagu Private Equity invests primarily Goldman Sachs as a managing director in 2005. From 1999 to 2005, Ian was at Merrill Jan Moulijn, Consultant in management buyouts of companies operating across a wide range of industries in Lynch in Europe, initially running Loan and Mezzanine Capital Markets and latterly High INDURO ADVICE the UK, France, Germany and the Nordic region. Vince is also a former Chairman of Yield. He became a managing director at Merrill Lynch in 2001. Prior to that, he ran the Jan Moulijn is an independent consultant advising investment firms and institutional the British Venture Capital Association. Leveraged Loan Capital Markets business at Deutsche Bank. He began his banking investors on private equity related issues. Previously, Jan worked for AlpInvest career in 1992 at NatWest Markets in Acquisition Finance and Syndication. Partners/Taros Capital. Before he was co-founder of Waterland Private Equity Investments and prior to this, he oversaw the private equity investments for Shell Pensionfund. Jan has 08.30 Robin Doumar, Managing Partner, PARK SQUARE CAPITAL been board member of EVCA and the Dutch Venture Capital Association (NVP). Park Square Capital is a leading independent provider of credit products in Europe, managing and advising more than €2.5 billion of capital across its funds and co- Mark Boyle, Director Private Equity Funds ALLOCATION – NEW RESEARCH investments. Robin has over 20 years experience in the global credit and private NORTHWESTERN MUTUAL CAPITAL Private Equity And Asset Allocation: Does Private Equity equity markets. Prior to founding Park Square in 2004, Robin spent 15 years at For biography please see page 2. Goldman Sachs in New York and London, where he was Head of Workouts and Really Enhance Performance And Reduce Risk In An Restructurings, Head of European Leveraged Finance and Head of European Janet Brooks, Managing Director Institutional Portfolio - 10 Year Case Study Mezzanine in the Principal Investment Area. MONUMENT GROUP Hanspeter Bader Ms Brooks joined Monument Group (UK) in 2007. Prior to this she was a Director and Managing Director, Head of Private Equity 17.30 board member of ECI Partners. During her 15 years at ECI, Ms Brooks oversaw the successful fundraising of four institutional funds and also developed ECI’s firm-wide UNIGESTION marketing strategies for deal flow, investor relations, and general strategic direction. Hanspeter Bader, CFA, is Head of Unigestion's Private Equity She is currently a member of the British Venture Capital Association’s Investor department. He is responsible for investment strategy, asset allocation TABOO TOPICS Relations Committee, and has previously served in a similar capacity for the European and business development. Prior to joining Unigestion in 1999, Dr Bader Venture Capital Association. spent 10 years with UBS in Switzerland and the UK, involved particularly Analysing Unmentionable And Taboo Topics For The in private equity and leveraged finance. He was Finance Director of Private Equity Industry UBS’s European private equity business. His thesis “Private Equity as an Asset Class • Evaluating fees, succession, remuneration 17.40 – 18.00 Panel for Institutional Investors” has been published in Germany, Austria and Switzerland. Dr Bader is also a member of Unigestion’s Private Equity Investment Committee. • Analysing the coming wall of litigation – how will current and 18.00 – 18.20 Roundtable Discussion upcoming legal actions impact GPs and LPs? 08.50 • Clients as competitors – how will public pension funds persuade good people to work for them as GPs? 3. Ensuring Your Team's Optimum Size And Structure To • Regulation Survive And Prosper ALLOCATION TO PRIVATE EQUITY • Terms and conditions • Refining investment teams to execute revised strategies Private Equity Assets In An Overall Allocation – To What Moderator: Jon Moulton, Chairman • Sharing potentially smaller economics Extent Is The Substantial Premium Of Investing In PE BETTER CAPITAL • Managing internal and external transitions For biography please see page 8. Moderator: Justified, Relative To Other Markets? How Should LPs Lucy Nicholls Modify Their Allocation To Private Equity Post Crisis? Marleen Groen, CEO Partner Moderator: Christopher Hunter, Managing Director GREENPARK CAPITAL GRAPHITE CAPITAL MANAGEMENT CAMBRIDGE ASSOCIATES For biography please see page 3. Lucy joined Graphite Capital in 2009 as a Partner of the fund investment team. She Based for five years in the London office, after four years in Boston, had previously worked for ten years in the private equity fund of funds sector, most Christopher works with a number of university, foundation, hospital, recently with Adams Street Partners and, prior to that, with Pantheon Ventures. She private and corporate pension fund clients based in the US, UK, Charlie Troup, Partner holds a degree in Modern Languages from Durham University. Switzerland, Italy and Middle East ranging in size from £130 million to DUKE STREET over £15 billion. Christopher is also part of the firm’s Ex-US Private Charlie Troup joined Duke Street as a Partner in 2006 and has worked on a number of Grant Roberts Equity and US Private Equity Research Committees. Highlights from recent deals including leading the acquisition and restructuring of SandpiperCI. He Co-Head Private Equity Advisory Christopher’s recent work include advising on all aspects of private equity programme came to Duke Street from Permira which he joined in 1995, becoming a partner in construction including manager selection and portfolio monitoring and various fund 2001. While there he worked on a range of transactions including TGE, Memec, RICHMOND PARK PARTNERS due diligence projects. Prior to joining Cambridge Associates in 2000, Christopher Inmarsat and the AA. Before Permira, Charlie spent two years with HSBC Private Grant serves as Co-Head of Richmond Park’s Private Equity Advisory. He has more worked at Endeavor Corporation, a start-up consulting firm and at Ernst & Young Equity (now Montagu Private Equity) on secondment from Deloitte and Touche than 14 years of private equity industry experience. Prior to joining Richmond Park, specialising in economic litigation consulting, bankruptcy consulting and valuation. Corporate Finance where he was a senior manager specialising in raising private Grant co-founded Newgate CSP, a specialist private equity advisory and investment equity for MBI/MBO deals. business, having previously been at 3i plc. Throughout his career, Grant has worked Sanjay Mistry, Head European Private Equity Research with leading fund managers and institutional investors and advised on some of the MERCER more complex and innovative transactions involving raising funds, secondary Sanjay is a Principal in Mercer’s Europe and Middle East client team. Hans Albrecht, Founder & Partner transactions and M&A/strategic advisory. Located in London, he is involved in advising on the full range of NORDWIND CAPITAL investment issues for institutional investors, but focusing on those For biography please see above. Rachel Wood relating to private equity. Away from his consulting role, Sanjay chairs Co-Founder Mercer's European Private Equity Research Group. Over the years, he Josh Lerner, Jacob H Schiff Professor of Investment Banking AMALA PARTNERS has been involved in evaluating managers, determining asset allocations, monitoring Rachel co-founded Amala in 2008, having previously been a Managing Director at portfolios and educating clients in the area of private equity. Sanjay has over ten years HARVARD BUSINESS SCHOOL of experience within the investment industry beginning his career with Mercer in For biography please see page 8. Helix Associates. During her seven years there, Rachel advised and raised capital for many private equity firms including GB Deutschland, Piper Private Equity, Graphite 1998. Prior to joining Mercer, he worked in the Pension Review Unit at Eagle Star, Capital, Exponent Private Equity and Quadriga Capital. advising on pension mis-selling claims. He is a member of the Institute of Actuaries.

10 For latest programme or to register, please visit www.icbi-superinvestor.com KR2251 Sinvestor 2010:SuperInvestor 08 19/8/10 12:33 Page 11

DAY 19 November 2010 3 Main Conference

Mark Calnan Ivan Vercoutere, Partner, LGT CAPITAL PARTNERS Alex Sao-Wei Lee Global Head of Private Equity Based near Zurich, and with locations in New York, London, Dublin, Hong Partner Kong and Tokyo, LGT Capital Partners is one of the leading managers of TOWERS WATSON alternative investments on behalf of institutional investors globally. Its AXIOM ASIA Mark heads up the global private equity team. He joined Towers Watson team of over 160 people currently manages USD15 billion in private Alex Lee is an Investment Director and the Head of Secondary (previously Watson Wyatt) in 2004 and has been part of the private equity assets and USD 5 billion in hedge funds assets on a global basis. Investments at Axiom Asia Private Capital, an Asia focused private equity team since then. In addition to providing strategic direction to the Mr Vercoutere joined LGT Group in 1998 to lead its private equity equity fund of funds management firm with $1.4 billion under private equity effort, Mark researches both direct and fund of funds activities. Prior to joining LGT Group, he was Vice President and management. Alex leads the firm’s secondary investment efforts and is managers and provides recommendations to clients. Mark works closely with a investment committee member of Pacific Corporate Group. also active in primary fund investments and co-investments. Prior to joining Axiom, number of Towers Watson’s largest private equity advisory accounts and his Alex spent six years at Coller Capital, first in London and later in Singapore. As an responsibilities include providing strategic advice on the structure of the overall private Investment Principal, he originated, executed and monitored secondary investments in equity programme and recommendations on specific funds to populate the strategic Andreas Schmidt Asia. He worked on secondary transactions involving both LP positions and direct framework. In addition to Mark’s private equity responsibilities, he also has experience Managing Director, Primary Private Equity Investments investments across buyout, growth capital and venture capital, in Asia, Europe, and consulting to clients on a broad range of issues including investment strategy and DB PRIVATE EQUITY North America. manager structure. Andreas Schmidt is responsible for the primary private equity fund-of- funds business of DB Private Equity. He is also a member of the Varun Sood, Hanspeter Bader advisory boards of several Private Equity Funds. Previously Mr Schmidt Managing Partner & Co-Founder Managing Director, Head of Private Equity, was employed as Investment Professional with CAM Private Equity CAPVENT UNIGESTION Consulting und Verwaltungs-GmbH in Cologne. Prior to that he worked as a management consultant with the Boston Consulting Group (BCG) where he advised For biography please see page 7. For biography please see above. well-known German and International companies on asset management as well as international private equity funds on strategic due diligence in Germany. 09.30 Nick Ashmore, Head of Private Equity Sev Vettivetpillai NATIONAL PENSION RESERVE FUND Chief Executive Officer The Squandered Opportunity? The State Of The Nick Ashmore is the Head of Private Equity for the Irish National AUREOS ADVISERS Relationship Between Limited And General Partners - Pensions Reserve Fund (NPRF). Nick is responsible for managing Sev Vettivetpillai was appointed CEO in July 2004. Prior to this he was buyout, venture capital, other private equity and infrastructure Investment Director, responsible for the Aureos Group investment And How They Should Be Evolving investments globally. Before joining the NPRF in 2006, Nick was an activities such as investment strategy & philosophy, investment process Josh Lerner, Investment Manager with Greenaap Consultants Limited, a private and fund structures. He was also instrumental in applying portfolio Jacob H Schiff Professor of Investment Banking, family office, based in Dublin. development and management theory to private equity investment across the Aureos HARVARD BUSINESS SCHOOL Group. He has 13 years of experience in private equity investing in the emerging markets. Prior to joining Aureos, Sev was a Senior Investment Executive at CDC, For biography please see page 8. 12.25 responsible for evaluating third party fund investments and CDC’s portfolio of managed funds. EMERGING MANAGERS & SRI 10.25 Morning Coffee Emerging Managers, Environmental And Social Michael Barth Responsibility, Governance: How Do Fund Of Funds And Managing Director, Global Investment 10.55 GPs Address Clients' Needs Which May Not Be Solely DARBY OVERSEAS To be confirmed. Joining Darby in March 2006, as Managing Director and subsequently Senior Returns Driven? Managing Director, Global Investment, Mr Barth has lead Darby's global investment POLITICS, REGULATION & Moderator, David Jeffrey, Managing Partner operations. Since early 2009, he has been responsible for Darby's investor relations PARISH CAPITAL and fundraising and for developing potential acquisitions on an opportunistic basis. Mr THE MEDIA Mr Jeffrey and is based in London managing a team of investment Barth has had a long and distinguished career in global emerging markets investing. In Understanding The Transformed Political And Ideological professionals focusing on primary, secondary and direct investments 2005, he completed five years as Chief Executive Officer of FMO (Nederlandse throughout Europe. Prior to Parish Capital, Mr Jeffrey was Managing Financierings-Maatschappij voor Ontwikkelingslanden), specialising in emerging Order Relating To The Private Equity Business Director of BancBoston Capital’s European and Asian operations. During markets private investment. While there, Mr Barth also served as Chairman of the • Why is the reality and image of private equity so at odds? his tenure at BancBoston Capital he was responsible for sourcing and European Association of Private Sector-Oriented Development Banks. He worked • Understanding the disconnect between the industry, regulators, the executing over 60 private equity deals. Mr Jeffrey spearheaded BancBoston Capital’s previously at the World Bank and the International Finance Corp. Mr Barth is also a member of the Board of Directors of the Emerging Markets Private Equity Association media, trade unions and the public and what can be done to change this investment strategy in Continental Europe and ultimately took responsibility for the strategic re-alignment of BancBoston Capital’s European activities, first within and the International Council of Experts of the Bretton Woods Committee. Moderator: FleetBoston Financial, and subsequently as part of Bank of America’s global private Martin Arnold, Private Equity Correspondent equity group. THE FINANCIAL TIMES 15.25 Martin Arnold has worked for the Financial Times since 1999 and been Christian Dujardin the FT Private Equity Correspondent since May 2007. He won the British Head of Product Development Private Equity Private Equity and Venture Capital Association award of private equity UNIGESTION GLOBAL INVESTMENT ISSUES correspondent of the year for 2007. Before this, he was Paris Christian Dujardin is Head of Product and Business Development for What Are The Issues Facing The Private Equity Industry correspondent for five years, covering the French political scene, the presidential Private Equity, responsible for client servicing and the development of Across Emerging Markets? Comparing And elections, and the finance, healthcare and technology sectors. He has worked for the new products. Prior to Unigestion he gained principal investment and FT in London - covering TMT - and in New York - covering consumer industries during corporate finance expertise with McKinsey & Company as well as Contrasting Investment Opportunities In Different the dotcom boom and bust of 1999-2000. Affentranger Associates, a Geneva based Private Equity boutique. Geographies And Sectors Vincenzo Morelli, Partner, TPG CAPITAL, Chairman, EUROPEAN PRIVATE EQUITY ROUNDTABLE Tom Rotherham, Associate Director Private Equity Moderator: Vincenzo Morelli is European Operating Partner at TPG Capital, based in HERMES FUND MANAGERS Luc Nijs London. He has responsibility for the oversight of TPG’s portfolio Tom is Associate Director for Private Equity at Hermes Equity Founder, Chairman & Group CEO, companies in Europe, Russia and the Middle East. Mr Morelli serves as Ownership Services (EOS). Owned by Hermes Fund Managers Ltd, THE TALITHA GROUP Chairman of the Board of Mey Alkollü Içkiler SA.VE TIV.AS. and as a EOS acts on behalf of 20 clients with over £60bn AUM. In his role, Tom For biography please see above. Director of Télédiffusion de France (TDF). He is also Chairman of the helps limited partners and general partners to integrate environmental, European Private Equity Roundtable, the association grouping the 25 social and corporate governance factors into their investment decision- largest private equity fund managers operating in Europe and a Director of the making and ownership activities. Tom also leads the Principles for Responsible European Venture Capital Association (EVCA), where he chairs the Large Buyout Investment (PRI) work on Private Equity, including as lead drafter of a Guide for LPs. Steven Cowan, Managing Director, PGCI Platform. Prior to joining TPG, in January 2005, Mr. Morelli was a Managing Director Tom is a member of the EVCA and AVCAL working groups on responsible investment. Mr Cowan is a founder of PCGI, a Washington, DC, based investment manager with Alvarez and Marsal, the turnaround and crisis management firm, where he Tom has 15 years of experience working in sustainable development, including within focused on partnership and co-investment in select private equity markets outside served as Geshäftsführer of Schulte GmbH and as Chief Executive Officer of the consultancy, public policy and academia. of the United States. With more than US$1 billion under management, PCGI has Fantuzzi Group SARL. Before this, he was Senior Advisor with Clayton, Dubilier and almost 100 years of collective experience investing in international private equity Rice, where he served as Vice Chairman of Italtel SpA. Frode Strand-Nielsen, Managing Partner markets. PCGI's team has also advised notable US public pensions and sovereign FSN CAPITAL entities with respect to markets as diverse as Japan, China, India, Central Europe, Simon Walker, Chief Executive Officer, BVCA Mr Strand-Nielsen has entrepreneural, strategy and M&A experience from Asia, Africa, Latin America and Israel. Prior to PCGI, Mr Cowan served at Overseas Simon Walker has been Chief Executive of the BVCA, the organisation Arkwright and Bain & Co. Prior to founding FSN Capital in 1999, Mr Strand- Private Investment Corporation (OPIC), most recently as a Director in the that represents British private equity and venture capital, since October Nielsen was a founding Director and the Chairman of the Executive Investment Funds Department, where he was responsible for designing and 2007. Between 2003 and 2007 Simon worked at Reuters as Director of Committee of Arkwright. Arkwright is a corporate advisory firm specialising implementing the program's asset allocation plans, selecting managers, and Corporate Communications and Marketing. He was previously in strategy consulting and M&A work. The firm had 120 professionals overseeing a large portion of the $3.5 billion investment funds program. Mr Cowan Communications Secretary to HM The Queen at Buckingham Palace. He located in five offices; London, Paris, Hamburg, Stockholm and Oslo. Before also served as an Adjunct Professor of Law at American University's Washington was Director of Corporate Affairs at British Airways and a non-executive Arkwright Mr Strand-Nielsen was a Manager with Bain & Co, London. College of Law, and as an advisor to the governments of Colombia and Canada with director of Comair Ltd (South Africa). From 1996-1997 Simon worked as respect to developing private equity programmes. a special adviser in the UK Prime Minister’s Policy Unit at 10 Downing Street. Patricia Jeanjean, Investment Director Hervé Schricke, Chairman of the Executive Board, CAISSE DES DÉPÔT ET CONSIGNATIONS Miriam Schmitter Patricia Jeanjean is Investment Director of Alternative Investments at Caisse des Managing Director XANGE PRIVATE EQUITY & Chairman, AFIC Dépôts et Consignations. Patricia was an investment director at CDC which she joined Hervé has more than 30 years experience at several financial in 2004 and has worked in private equity industry since 1994. Prior to join CDC she CAMBRIDGE ASSOCIATES institutions. Entrepreneur and Business Angel, Hervé played a key role was investment manager of Fondinvest Capital fund of fund in France. Miriam heads Cambridge Associates’ international private equity and in the start up of Meilleurtaux.com (e-broker in mortgages), one of the venture capital research. Before Miriam joined in 2005, she was an success stories in the French market. Hervé founded XAnge Capital in investment manager of private equity fund investments at Allianz Private 2003 and XAnge PE, a private equity management company sponsored 13.00 lunch Equity Partners. She also worked as an investment professional at DB by La Banque Postale with several other corporates and institutional investors. Hervé Capital Partners/DB Investor, the direct private equity investment vehicles of Deutsche is currently Vice Chairman of the French Venture & Private Equity Association (AFIC). Bank. In this position, she evaluated buyout investment opportunities. Prior to that, 14.10 she worked as a consultant for Deloitte & Touche, where she performed financial 11.30 analysis and valuations and conducted financial due diligence for clients. RISING STAR SHOWCASE Alice Chow LP STRATEGY The speakers taking part in this session are those considered the very Managing Director Capitalising On The Current Market: LP Perspectives On best according to the results of our independent survey of LPs. Each SQUADRON CAPITAL PARTNERS Alice Chow has been involved in Asian private equity investing since Returns, Allocation, Portfolio Management And Funds of these GPs has a unique set of strengths, and the combination 2000, principally with Search Investment Group / Squadron Capital, Moderator: presented here is a unique taste of the strategies and advantages of where she is a managing director and member of the Squadron Christopher Hunter those private equity companies at the very pinnacle of their game. Capital investment committee. In addition to her work in private Managing Director equity, Ms Chow has assisted the chairman of a public-listed Hong Kong company 14.35 in the establishment of his private investment office. Earlier in her career, she CAMBRIDGE ASSOCIATES was with QED Global Limited, a Hong Kong-based technology and media ventures For biography please see above. company, which she joined following work as an Engagement Manager with McKinsey in New York. Pierre Fortier, Vice-President, EMERGING MARKETS AND RISK Partnerships and Syndication Private Equity, Determining And Understanding The True Risks – Rahul Bhasin CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Regulatory, Industry, Manager, Political & Currency – Of Managing Partner Pierre Fortier was appointed Vice-President, Partnerships and Investing In Emerging And Frontier Markets BARING PRIVATE EQUITY PARTNERS Syndication in 2008 after having the title of Vice-President, Funds in the Moderator: Luc Nijs, Founder, Chairman & Group CEO For biography please see page 7. Caisse de dépôt et placement du Québec’s Private Equity group since 2002. His mandate is to develop and manage a portfolio of investments THE TALITHA GROUP in conjunction with funds managers. He formulates development and trading The Talitha Group is a global emerging markets merchant banking group strategies in partnership with the private equity teams. Mr Fortier is responsible for & conglomerate with offices around the globe. Luc Nijs is also the Aizkraukles Banka professor in investment banking, private equity & his area’s network of partners. Pierre has some 30 years of experience in corporate Koonal Gandhi financing, mergers, consolidations and acquisitions. During his career, he has directed entrepreneurial finance at the Riga Graduate School of Law in Latvia numerous corporate financial restructuring plans. Mr Fortier has held management where his lecturing and research focuses on issues involving CIO positions in such firms as CCFL Advisory Services Inc and KPMG Corporate Finance globalisation & corporate strategy as well as corporate & investment KAISER FAMILY FOUNDATION Inc, and was also Vice-President, Investments at the Caisse between 1984 and 1997. strategies for emerging markets and in particular the relationship between investment Mr Gandhi has responsibility for the endowments’ asset allocation. strategies and returns and the impact of country context and institutional voids on Previously, he was a Director at The Overseas Private Investment Torben Vangstrup returns in particular. He is further the director of the Center for Global Emerging Corporation (OPIC). Koonal also worked at the US Treasury, helping to Markets Private Equity and Entrepreneurship. He has been active in over 170 counties lead part of the $700 billion Troubled Asset Recovery Program (TARP). Managing Partner worldwide and was previously with Arthur Andersen and Deloitte in a number of ATP PRIVATE EQUITY PARTNERS global positions and a professor at Instituto de Empresa (Madrid). Torben Vangstrup has been with ATP PEP since 2001. He serves on 16.15 Close of conference advisory boards of a number of European and US buyout and venture Scott Foushee, Managing Director capital funds. Prior to joining ATP PEP, Torben had more than 10 years of Head of Frontier Markets Private Equity experience in equity research and has been involved in numerous corporate finance transactions while working for Codan Bank and Danske Bank. ATP PINEBRIDGE INVESTMENTS Private Equity Partners was founded in 2001 and is one of Europe’s largest investors in Mr Foushee oversees the Pinebridge Gateway team for private equity private equity funds. It has, to date, through the management company Private Equity investing in Turkey, the Middle East, Africa and Russia/FSU. He also serves as an Investment Committee member for several Pinebridge Advisors, approximately €6 billion under management and has an annual investment program of more than 500 millio. The limited partnership ATP PEP III was established managed private equity funds in CEE, Latin America, and in secondaries. € Prior to his 12 years of experience as a principal investor in emerging in September 2007 and has a commitment of approximately €1.5 billion from its limited partner ATP. ATP PEP invests in buyout funds, venture funds, secondary markets, he served as a director with the Barents Group, an emerging market interests in funds, distressed related funds and co-investments in Europe and North corporate finance advisory group. His background includes three years as a member America. It also surveys the rest of the world such as India, China, Eastern Europe of the start-up team of Bain Capital. Pinebridge Investments, the former AIG and Australia for private equity opportunities. Investments, is an independent asset management firm with nearly $85 billion in assets under management across alternative, listed equity, and fixed income asset classes. Pinebridge has an on-the-ground presence in 32 countries around the world. Westin Hotel, Paris.

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Europe’s Foremost attended200+ in LPs2009

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Fundraising & & LP/GP Relationship Summit SAVE up to Secondaries Summits £700 “ "As a point of "SuperInvestor is one of the“ communication 10th Annual few events I appreciate between“ GPs and LPs, “attending - it's ONE OF MY it's SECOND TO NONE." FAVOURITES."

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The Fundraising Summit BRAND The Secondaries Summit Back by NEW popular • Learn the investment plans of 20+ LPs Hear from all the market leaders on this hot demand • Hear the results of 2 new surveys into LPs' & GPs' sector including: Coller Capital, Alpinvest Partners, fundraising plans HarbourVest Partners, • Benefit from a masterclass in investor relations Pantheon Ventures & PEFOX Sponsored by About Your Sponsors Principal European Law Firm Sponsor: SJ Berwin is a full service international corporate law firm with more than 175 partners and 500 other lawyers based in 12 offices in Europe, East Asia and the Middle East. Our clients are sophisticated buyers of legal services, principally multi-national and entrepreneurial companies and financial institutions, which we advise on a comprehensive range of matters including corporate finance, private equity, commercial law, real estate, finance, reconstruction and insolvency, financial services and reg- ulation, intellectual property, investment funds, litigation and dispute resolution, employment and pensions, EU and competition and tax. The firm has offices in London, Berlin, Brussels, Dubai, Frankfurt, Hong Kong, Madrid, Milan, Munich, Paris and Turin, and our London office is a mem- ber of Interlaw which is one of the largest established associations of law firms in the world, with member firms in over 120 cities worldwide. We have a strong international reach and we regularly advise clients across Europe, in the USA, the Middle East, India, China and Russia

Co Sponsors: Proskauer is a Associate Sponsors: leading international Brookfield is a global law firm with over asset manager 650 lawyers serving offering private equity clients around the world. The firm has experience in investment strategies in property, renewable power, all areas of practice important to businesses and infrastructure, timberland, agrilands and special situa- individuals including private equity, corporate finance, Denning & Company LLC is a FINRA registered global tions. The firm currently has more than $100 billion of mergers and acquisitions, general commercial private equity advisory firm headquartered in San assets under management and over 400 investment litigation, corporate governance, internal corporate Francisco, California. Founded in 2001, Denning & professionals and 15,000 operating employees in over investigations, white collar criminal defense, patent Company, LLC serves the private equity fundraising 100 offices and operating locations around the world. and intellectual property litigation and prosecution, needs of both veteran General Partners seeking only Brookfield has been an owner and operator of business- labor and employment, real estate transactions, to broaden their L.P. base as well as the next es with underlying tangible assets for over 100 years. bankruptcy and reorganizations, trusts and estates, generation of Private Equity Managers, requiring a and taxation. Our lawyers have established more elaborate fundraising effort. With over 70 years themselves as leaders in the private equity sector and of combined industry experience, the Denning and practice in strategic office locations that allow us to Company team has raised capital in excess of $8 actively represent sponsors and institutional investors billion for General Partners based in the U.S., worldwide in a broad range of activities, from structur- Japan/Asia, UK/Europe, Russia, and Israel from a ing funds to investment transactions of all types. Limited Partner base similarly diversified. Headquartered in New York since 1875, the firm has With over €6 billion (US$8 billion) in total client assets offices in Boca Raton, Boston, Chicago, Hong Kong, TPG Credit and twenty years of investment experience, DB London, Los Angeles, New Orleans, Newark, Paris, Management Private Equity is one of the leading private equity fund São Paulo and Washington, D.C. www.proskauer.com (“TPGC”) is a of funds managers in Europe. With offices in the UK, global Germany, Switzerland, the US and Singapore, DB Founded in distressed Private Equity has established relationships with 250 1992, Triago is a credit investment GPs, managers and advisers of private equity leading global organization managing private investment portfolios investment funds in more than 450 funds worldwide. advisor offering with a focus on opportunities in the corporate dedicated fundraising and secondary advisory distressed and distressed asset markets. TPGC was Enterprise Investors is the oldest and founded in August 2005 by Rory O’Neill in partnership one of the largest private equity and services to private equity fund managers and with the principals of TPG Capital, L.P. The TPGC venture capital companies in Poland investors worldwide. Triago works exclusively for portfolio managers, Rory O’Neill, Evan Carruthers, Jim and Central and Eastern Europe. This general partners in the primary fundraising market, Musel, Kirk Ogren and Brandt Wilson, have over 89 year, EI celebrates its 20th and as a secondary advisor acts only for sellers. As years of collective investing experience with anniversary. The total capital of the six a placement agent, Triago executes highly tailored significant hands-on expertise in sourcing and buyout funds and one venture fund fundraisings for general partners across a wide executing distressed investments across a spectrum raised by Enterprise Investors of industries, capital structures and geographies. € range of strategies and regions, sourcing capital amounts to 1.7 billion. To date, these worldwide for more than 140 funds to date. In the TPGC has developed an investment strategy funds have invested €1. 3 predicated on superior sourcing, fundamental value billion in 120 companies across various sectors of the secondary market Triago advises on active portfolio based due diligence, and a willingness to embrace economy, and have fully exited more than 90 management and liquidity solutions, and has complexity in an effort to capitalize on differentiated companies generating total proceeds of €1.4 billion. helped transfer more than 1000 funds since 2004. investment opportunities. TPGC’s alliance with TPG Enterprise Investors pioneered private equity and Triago operates from offices in New York, Paris and Capital combines classic distressed investing skills venture capital investments in Central & Eastern Dubai and is a member of EVCA in Europe, a with the unique investment insights of a leading Europe. www.ei.com.pl broker-dealer licensed by FINRA in the United global private investment firm. This relationship States, and the first placement agent and expands the depth and breadth of each organization’s secondary adviser regulated by the DFSA in the knowledge base to create a truly unique investment perspective. United Arab Emirates.

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Fundraising Summit: The Westin Paris 16 November 2010 Secondaries Summit: 3 Rue Castiglione 16 November 2010 75001 Main conference: 17-19 November 2010 Paris

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