KN2129new cover06 31/5/06 12:08 pm Page 1

SAVE UP TO BOOK BEFORE£600 4 August 06

The 6th Annual

Just Some Of The 130 Industry Figureheads That You Will Meet At SuperInvestor: • Jon Moulton, ALCHEMY PARTNERS • Steven Costabile, AIG • George Anson, HARBOURVEST GLOBAL INVESTMENT GROUP PARTNERS (UK) • Hans Albrecht, NORDWIND • Guy Hands, TERRA FIRMA CAPITAL CAPITAL PARTNERS • Billy Gilmore, SCOTTISH • Peter Gale, GARTMORE WIDOWS INVESTMENT • Sandra Robertson, THE WELLCOME TRUST PARTNERSHIP • Jonathan Colby, • Arlett Tygesen, ILPA • Wim Borgdorff, ALPINVEST PARTNERS • Martin Day, OMERS CAPITAL • Jonny Maxwell, STANDARD LIFE INVESTMENTS PARTNERS Anders Strömblad, SECOND • Rick Hayes, OAK HILL INVESTMENT • SWEDISH NATIONAL MANAGEMENT • Hanspeter Bader, UNIGESTION • Derek Murphy, PSP INVESTMENTS • Wayne Harber, HAMILTON LANE • Ivan Vercoutére, LGT CAPITAL PARTNERS • Bruno Raschle, ADVEQ • Carol Kennedy, PANTHEON • Charlie van Horne, ABBOTT CAPITAL Jos van Gisbergen, MN SERVICES • • Gordon Hargraves, • Hanneke Smits, ADAMS STREET PARTNERS Rho FUND INVESTORS • Ray Maxwell, PRIV-ITY LIMITED • Graham O' Keefe, ATLAS VENTURE • Veronica Eng, PERMIRA • Andrew Joy, CINVEN • Nikos Stathopoulos, BC PARTNERS • Ronan Cunningham, IRISH NATIONAL • Ian Armitage, Hg CAPITAL PENSIONS RESERVE FUNDS • Johannes Huth, KKR • Jonathan Russell, 3i • Kevin Albert, ELEVATION PARTNERS • Pat Cloherty, • Chris Kojima, GOLDMAN SACHS ASSET DELTA PRIVATE EQUITY PARTNERS MANAGEMENT • Mark Weston, ELECTRA PARTNERS • Chris Masterson, MONTAGU PRIVATE EQUITY • Roger Holmes, CHANGE CAPITAL PARTNERS • Thomas Kubr, CAPITAL DYNAMICS • Rhonda Ryan, INSIGHT INVESTMENT

• POMONA CAPITAL • EQT PARTNERS • ENTERPRISE INVESTORS • BREGAL INVESTMENTS • IFC • HELIX ASSOCIATES • INDUSTRI KAPITAL • OAKTREE CAPITAL MANAGEMENT • KEYHAVEN CAPITAL • ACCESS CAPITAL PARTNERS • NATEXIS CAPE • AUGUST EQUITY LIMITED • ATLAS VENTURE • MICROSOFT • CVC CAPITAL PARTNERS EUROPE • HELIX ASSOCIATES • MVISION PRIVATE PLUSEQUITY ADVISERS • INSIGHT INVESTMENT • SJ BERWIN • ADVENT INTERNATIONAL • MTI PARTNERS • QUESTER • BRAIT • CETIM • MID EUROPA PARTNERS • ALTERNATIVES MANAGEMENT COMPANY • IMDAD CAPITAL • TOWERBROOK CAPITAL PARTNERS • IDG VENTURES EUROPE • CANDOVER • ACTIVA CAPITAL • BARING VOSTOK CAPITAL PARTNERS • HAMILTON LANE • PROBITAS • OLYMPUS CAPITAL HOLDINGS ASIA • PROVENTURE • PARTNERS GROUP • F&C • CITIC CAPITAL MARKETS HOLDING • PARKSQUARE CAPITAL • MONITOR CLIPPER PARTNERS • LYCEUM CAPITAL • VENTECH • PERFORMANCE EQUITY MANAGEMENT • CURTIS MURRAY ASSOCIATES • PROSKAUER ROSE • EVERGREEN VENTURE PARTNERS • MIDOCEAN PARTNERS • GLEACHER MEZZANINE • DENNING & COMPANY • WI HARPER GROUP • MOTOROLA VENTURES • GLENALTA CAPITAL • MONUMENT GROUP • GSC PARTNERS • • CAMPBELL LUTYENS • ADVEQ • TAKEDA RESEARCH INVESTMENTS • CREDIT SUISSE FIRST BOSTON • CDC GROUP • EUROPEAN • CAPITOL HEALTH • INDIGO CAPITAL • PPM CAPITAL • GMT COMMUNICATIONS PARTNERS • PALAMON CAPITAL PARTNERS • NATEXIS PRIVATE EQUITY ASIA • BUTLER CAPITAL • CITY CAPITAL PARTNERS • WILSHIRE ASSOCIATES • LOYENS & LOEFF

Back By Popular Demand! SUPERINVESTOR HAS New Workshop: 13 Nov 06 MOVED TO A STUNNING Josh Lerner, Jacob H. Schiff Multi Asset Class Investing NEW VENUE – Professor of HARVARD BUSINESS SCHOOL PLUS Workshop THE WESTIN HOTEL Led by Guy Fraser-Sampson

Investor Workshop, Monday 13 November 2006 Principal European Principal US Law Co-Sponsors: Main Conference Day 1, Tuesday 14 November 2006 Principal Sponsor: Main Conference Day 2, Wednesday 15 November 2006 Law Firm Sponsor: Firm Sponsor: Main Conference Day 3, Thursday 16 November 2006 Westin Hotel, Paris Tel: +44 (0)20 7915 5103 Fax: +44 (0)20 7915 5101 [email protected] www.icbi-superinvestor.com Organised by: Website: www.icbi-superinvestor.com email:[email protected] tel: +44 (0) 20 7915 5103 fax: +44 (0)20 7915 5101 KN2129 SUPINV06 IN 31/5/06 11:19 am Page 2

INVESTOR WORKSHOP MAIN CONFERENCE DAY 1 13TH NOVEMBER 2006, 10AM – 4PM TUESDAY 14TH NOVEMBER 2006

NEW WORKSHOP Return Expectations For LPs & GPs P4 Multi Asset Class 08.30 Registration & Coffee P4 Chairman’s Opening Address: Investment Strategy: 09.00 "Oh Dear - We're A Big Part Of The Economy" The Politics Of Private Equity Jon Moulton, Managing Partner, ALCHEMY PARTNERS P4 Panel Discussion Setting Sail For Private Equity In The Public Eye: Successfully Dealing With The Challenges Created From Increased Public Scrutiny Of Private Equity Activities Moderator: George Anson, Managing Director, HARBOURVEST PARTNERS (UK) The New World 09.30 Panellists: Patricia Cloherty, Chairman & CEO, DELTA PRIVATE EQUITY PARTNERS Peter Gale, Managing Director, GARTMORE PRIVATE EQUITY What You Will Learn: Led by: Andrew Joy, Partner, CINVEN Thomas Kubr, CEO, CAPITAL DYNAMICS P4 Recent public statements by pension Guy Fraser-Sampson, 10.15 Morning Coffee consultants and others have highlight- Author, ed the need for institutional investors “Multi Asset Class SJ Berwin's Market Perspective: Anticipating Trends, Reviewing Challenges And Assessing to move into a new world of Investment Strategy” Developments In The Fund Market Place And The Impact Of The Buoyant Fund Market On 10.45 Trends In Fund Terms And Conditions investment where so-called Guy has twenty years’ “alternative” asset classes come to be experience of private equity, including Jonathan Blake, Senior Partner, SJ BERWIN P4 regarded as the core of any portfolio having set up and run for several years Panel Discussion while others, notably bonds, struggle the international operations of Horsley Private Equity: Big, Or Monstrous? Bridge. Recently his interests have to justify their inclusion. This sea- Examining The Consequences Of Bigger & Bigger Deals & The Effect This Will Have On Returns broadened into asset allocation and Moderator: Hanneke Smits, Partner, ADAMS STREET PARTNERS change in investment attitudes calls investment strategy generally, on which Panellists: for a totally new approach: how will it 11.10 he has become a regular guest Veronica Eng, Partner, PERMIRA impact your own activities, and what speaker and has written for most of Ian Armitage, CEO, HG CAPITAL should you do about it? What is the the leading pension and investment Richard Green, Managing Director, AUGUST EQUITY Yale Model, and can it be applied in publications. His first book, “Multi Wim Borgdorff, Managing Partner and Head of Fund Investments Europe? How does it affect concepts Asset Class Investment Strategy” was ALPINVEST PARTNERS P4 such as liquidity? published in June as part of the Wiley GUEST PRESENTATION finance series and has been hailed as Tomorrow’s Leaders – How 21st-Century Technology, Society & The Information Age Will Change SuperInvestor is happy to have a major contribution to modern 12.00 The Demands Of Investors and Entrepreneurs secured the services of Guy Fraser- portfolio theory. Baroness Susan Greenfield, Neuroscientist INTERNATIONAL EXPERT ON THE BRAIN, AUTHOR AND BROADCASTER P4 Sampson, the author of the only book Workshop Agenda: on the subject to have been published 13.00 LUNCH 14.15 outside the United States, and which 10.00 - 14.45 Post Prandial Q&A Session With BARONESS SUSAN GREENFIELD P4 deals specifically with the situation of Strategic Preliminaries European investors, particularly ● How to view pension fund liabilities Stream A Stream B Stream C ● The Total Funding Model Update On Growing Opportunities In Future Of The Mid Market pension funds. Hear from him how ● Setting your target rate of return Chaired by: VENTECH Emerging Markets Chaired by: investors need to plan their strategy ● Intelligent Asset Allocation Chaired by: CURTIS MURRAY ASSOCIATES GMT COMMUNICATIONS PARTNERS ● A word about LDI around a totally new view of risk and P P P6 11.00 Capital Deployment Versus A PANEL DISCUSSION A PANEL DISCUSSION returns which should logically lead to N N What Is The Future For The Mid Coffee Break Capital Efficiency:LP Conflict E “New Europe”: Seizing Opportunities E 14.45 L Market In A New Private Equity hugely increased allocations to & Impact On Venture Capital L In Central & Eastern Europe - World Of SuperSized Funds & 11.30 CAPITOL HEALTH D Why LPs Should Look Further Afield D Boutiques? “alternative” asset classes such as P4 I I Moderator: Moderator: private equity. What is MAC investing? S S GMT COMMUNICATIONS C MVISION PRIVATE EQUITY ADVISERS C ● The Yale Model U U PARTNERS ● Liquidity Non Vanilla Venture – How Does S Panellists: S Panellists: S S ● Correlation MID EUROPA PARTNERS LYCEUM CAPITAL This exclusive one day workshop will 15.05 Euro Venture Adapt To The New I I ● The MAC investment model World Order In Venture? O BARING VOSTOK CAPITAL PARTNERS O (FORMERLY WEST PRIVATE EQUITY) be of interest to GPs and LPs alike. N N ACCESS CAPITAL PARTNERS ● What MAC investing can achieve MTI PARTNERS ADVENT INTERNATIONAL Bring your investment practices into PALAMON CAPITAL PARTNERS 12.30 P4 ENTERPRISE INVESTORS P5 TOWERBROOK CAPITAL PARTNERS the 21st century! Lunch Break P PANEL DISCUSSION P5 P P A A A Co-Leaders: 13.30 N Why LPs Should Take European N PANEL DISCUSSION N E Venture Seriously: The E LP Perspectives On Investing In Asia: E PANEL DISCUSSION Ross Butler, Editor, REAL DEALS Risk L Opportunity To Catch The L L Ross has written extensively on all areas Where Are The Opportunities & What Sector Or Geography: How Should ● Why the traditional model doesn’t work Upswing As European GP's of the private equity and venture capital Create An Increasingly Are The Concerns? Middle Market Funds ● How should we view risk? D D D industry since joining Real Deals in Sophisticated Venture Market Moderator: Differentiate Themselves In Europe? ● Towards a new risk model I I I 2002. In 2005, he won the Most S Moderator: S ASIA ALTERNATIVES MANAGEMENT S Moderator: Outstanding Contribution Award at the ● Other excuses …! 15.25 C IMDAD CAPITAL C COMPANY C MIDOCEAN PARTNERS U U BVCA's Private Equity & Venture Capital Journalist of Panellists: U Panellists: Panellists: the Year Awards. Prior to joining Caspian Publishing, 14.30 S S S S ATLAS VENTURE S INTERNATIONAL FINANCE S CHANGE CAPITAL PARTNERS Ross wrote for FOW, a financial derivatives magazine. Coffee Break I IDG VENTURES EUROPE I CORPORATION I ACTIVA CAPITAL O PROVENTURE O O N N OMERS CAPITAL N INSIGHT INVESTMENT Gill Wadsworth 15.00 EUROPEAN INVESTMENT FUND EVERGREEN VENTURE AP2 NATEXIS CAPE Editor, PENSIONS WEEK Discussion PARTNERS CDC GROUP Gill is a journalist who specialises in the ● Obstacles to implementation – F&C P5 P6 way in which pension funds handle their ● What are they and how do we overcome investment activities and set their asset them? 16.05 Afternoon Tea allocation. She has been editor of the FT publication Pensions Week for the last 16.00 Stream A Stream B Stream C two years, having previously been deputy editor of FT Update On Venture Capital Growing Opportunities In Emerging Markets Latest Developments In Secondaries Close of Workshop Mandate magazine. Chaired by: VENTECH Chaired by: CURTIS MURRAY ASSOCIATES Chaired by: PROSKAUER ROSE

Examining The Private Equity Opportunity Examining The Nature & Extent Of In South Africa From An LP Perspective: 16.35 Topic and speaker TBC The Current Secondaries Opportunity What Prospects Does The Market Offer? "SuperInvestor provides a fantastic SJ BERWIN P5 BRAIT P5 P6

opportunity to network with so many S PANEL DISCUSSION P The Corporates’ Perspective: E China In The Global VC/LBO Arena PANEL DISCUSSION leading investors and 16.55 C What Opportunities Do They See I CeTIM Private Equity Secondaries: In Europe & What Pitfalls Do VCs A P6 The Supply Side L compare best practices" See In Co-Investing? Moderator: Moderator: POMONA CAPITAL E QUESTER X SPECIAL EXTENDED Panellists: Panellists: T PANEL DISCUSSION CREDIT SUISSE FIRST BOSTON E Examining the Outlook for & Martin Day, Vice President 17.15 MICROSOFT N CAMPBELL LUTYENS MOTOROLA VENTURES D Venture GOLDMAN SACHS OMERS CAPITAL PARTNERS E TAKEDA RESEARCH D In China from an LP & GP Perspective GREENPARK CAPITAL INVESTMENT Moderator: P5 CeTIM P6/7 Panellists: WI HARPER 17.35 Networking Champagne CITIC CAPITAL MARKETS HOLDING Networking Champagne - PARTNERS GROUP Roundtables Roundtables 18.35 OLYMPUS CAPITAL HOLDINGS ASIA NATEXIS PRIVATE EQUITY ASIA P7 P6 P7 19.00 - Networking Drinks Reception 20.30 2 KN2129 SUPINV06 IN 31/5/06 11:19 am Page 3

MAIN CONFERENCE DAY 2 MAIN CONFERENCE DAY 3 WEDNESDAY 15TH NOVEMBER 2006 THURSDAY 16TH NOVEMBER 2006

LP Perspectives & Improving LP/GP Relationships Value Creation & Fundraising

08.30 Registration & Coffee P7 08.30 Registration & Coffee P10

08.55 Chairman's Welcome: Mark Weston, Partner, ELECTRA PARTNERS P10 09.00 Chairman's Welcome: Jonny Maxwell, Chief Executive Private Equity, STANDARD LIFE INVESTMENTS P7 Panel Discussion Asia – Opportunity Or Bubble? Waking Giants - Examining Asia's Global Future: 09.05 Examining The Risks & Rewards Of Investing In Asia Which Strategy Should Private Equity Firms Take? Ray Maxwell, Founder & CEO, priv-ity Limited Moderator: John Campbell, Senior Partner, CAMPBELL LUTYENS P7 09.00 Panellists: How Do LPs Refine Their PE Programmes In Light Of Current Market Conditions: Jonathan Colby, Managing Director, THE CARLYLE GROUP

09.30 Allocation, Access, AlignmentP7 Of Interest, Diversification, Return Expectations Wayne Harber, Managing Director, HAMILTON LANE Ivan Vercoutére, Partner, LGT CAPITAL PARTNERS P7 Chris Rowlands, Managing Partner, 3i Bruno Raschle, Managing Director, ADVEQ P10 Panel Discussion Thinking Out Of The Box - What Should Investors Be Really Worrying About? What Are The Implications Of The Recent & Ongoing Mammoth Fundraising: Moderated by: Carol Kennedy, Senior Partner, PANTHEON 09.40 Can - & Should - The Pace Be Sustained? 09.55 Panellists: Nikos Stathopoulos, Partner, BC PARTNERS Guy Hands, CEO, TERRA FIRMA CAPITAL PARTNERS Sandra Robertson, Co-Head, Portfolio Management, THE WELLCOME TRUST P10 Christina Pamberg, Director, KKR World Class Fundraising Skills & Strategies: Marc St John, Managing Director, CVC CAPITAL PARTNERS EUROPE P7 10.05 Successfully Positioning Your Fund For The 2007 Market 10.40 Morning Coffee Kevin Albert, Managing Director, ELEVATION PARTNERS P10 Is Government Regulation Going to be the New Reality for Private Equity? 11.10 Examining Recent Trends 10.30 Morning Coffee Robin Painter, Partner, PROSKAUER ROSE P7 It Is What It Is: The State Of The Market Today 11.00 P7 Howard Marks, Chairman, OAKTREE CAPITAL MANAGEMENT Panel Discussion P10 Examining The Future Prospects For The Industry: How Will It Change & Grow, & Where Will The New Teams Come From? Panel Discussion Moderated by: Rick Hayes, Managing Partner, OAK HILL INVESTMENT MANAGEMENT How Hot Can The Debt Markets Get? Examining The Impact Of Financial Engineering On The Panellists: 11.30 Private Equity Landscape Derek Murphy, First Vice President, Private Equity, PSP INVESTMENTS Moderator: Jonathan Russell, Managing Director, 3i Chris Masterson, CEO, MONTAGU PRIVATE EQUITY Panellists: Peter McKellar, Investment Director 11.20 Johannes Huth, Member, KKR STANDARD LIFE INVESTEMENTS (PRIVATE EQUITY) Bruce Barclay, Director, ADVENT INTERNATIONAL Lional Assant, Principal, THE BLACKSTONE GROUP Hans Albrecht, Managing Director, NORDWIND CAPITAL Partnership Or Peril? Strategies For Effective General Partner / Limited David Slade, Head of European Syndicated Loan Group 12.15 Partner Relationships In A Period Of Flux CREDIT SUISSE FIRST BOSTON P10 Josh Lerner, Jacob H. Schiff Professor of Investment Banking HARVARD BUSINESS SCHOOL P7 “Its All In The Details”: Creating Value On The Way Into And 12.05 Out Of Recent French Investments 13.00 Lunch Jean-Lou Rihon, Director, PPM CAPITAL P10 Stream A Stream B Stream C SPECIAL EXTENDED LP LP Perspectives Alternative Perspectives On Private WORKSHOP GUEST PRESENTATION Chaired by: Equity “The Private Equity Life Cycle” 12.25 Insights From An Entrepreneur: Turning Ideas Into Reality WILSHIRE ASSOCIATES Chaired by: Co-Chaired by: HELIX ASSOCIATES Michelle Mone, Founder & Co-owner, MJM INTERNATIONAL, makers of the Ultimo Bra ILPA & OAK HILL INVESTMENT MANAGEMENT 13.15 Lunch ILPA Overview & The E X Lessons Of History: Importance Of LP Networking T EXTENDED Q&A SESSION 14.30 Post Prandial Q&A Session with Michelle Mone 14.30 E Private Equity Themes Re-Examined P10 Arlett Tygesen, Director, ILPA N Through 19th Century Events D E “Off The Record HELIX ASSOCIATES D With Josh Lerner” P9 Panel Discussion

S Fundraising in 2007: Examining GPs' Differentiation Strategies & LPs’ Allocation Choices Rick Hayes, Managing Partner, E OAK HILL INVESTMENT S “The Never Ending Story”? Moderator: MANAGEMENT S An Examination Of The Private Equity 14.50 I Ian Simpson, Director, HELIX ASSOCIATES Industry Through The Movies O HARVARD BUSINESS SCHOOL N PANTHEON Panellists: P8 P8 P9 14.50 Mark Weston, Partner, ELECTRA PARTNERS EUROPE Asset Allocation & P P Chris Kojima, Managing Director & Co-Head, Private Equity Group A PANEL DISCUSSION A PANEL DISCUSSION 15.10 Risk Management Strategies N N E The Whys And How Of LPs And GPs E Mezzanine: The Invasion GOLDMAN SACHS ASSET MANAGEMENT L L Participating In Co-Investments Of The Hedge Funds? Moderator: Rick Hayes D D Jos van Gisbergen, Director, Alternative Investments, MN SERVICES OAK HILL INVESTMENT I I S Moderator: S MANAGEMENT Moderator: Steven Costabile, Managing Director, Private Equity Funds Group C OMERS CAPITAL MANAGEMENT C Panellists: U U INDIGO CAPITAL S Panellists: S AIG GLOBAL INVESTMENT GROUP 15.30 Derek Murphy S S Panellists: P10/11 PSP INVESTMENTS I PSP INVESTMENTS I O PERFORMANCE EQUITY O PARK SQUARE CAPITAL Rhonda Ryan, INSIGHT N N GLEACHER MEZZANINE INVESTMENT MANAGEMENT Panel Discussion CalPERS (TBC) P8 GLENALTA CAPITAL P8 GSC PARTNERS P9 Value Added: What Does It Actually Mean & How Many GPS Offer It In Reality? 15.50 Afternoon Tea Moderator:

Selecting, Monitoring, P PANEL DISCUSSION P Private Equity Going Public – John McLaren, Managing Director, MONUMENT GROUP Assessing & Exiting Your Portfolio A A N Where Are The Savvy LPs Placing N Listings Of Private Equity Funds & Panellists: 16.20 Moderator: Rick Hayes E Their Bets in Europe and Around The E Feeders 15.35 OAK HILL INVESTMENT L World & What Does It Take To Win A L Billy Gilmore, Investment Director, Private Equity MANAGEMENT D Commitment? D LOYENS & LOEFF I I P9 SCOTTISH WIDOWS INVESTMENT PARTNERSHIP Panellists: S S C C Christopher Masek, Partner, INDUSTRI KAPITAL Anders Stromblad, AP2 U Moderator: U Billy Gilmore, SCOTTISH WIDOWS S KEYHAVEN CAPITAL PARTNERS S S S Peter Laino, Managing Director, MONITOR CLIPPER PARTNERS INVESTMENT PARTNERSHIP I Panellists: I PANEL DISCUSSION Hanspeter Bader, Managing Director, UNIGESTION 16.40 CalPERS (TBC) O ABBOTT CAPITAL MANAGEMENT O Distressed Investing In Europe: N N P11 Melissa Ma, ASIA ALTERNATIVES CITY CAPITAL Has The Tide Turned? MANAGEMENT COMPANY DENNING & COMPANY P8 P8 16.20 Close of Conference Moderator: P P PROBITAS PARTNERS PANEL DISCUSSION Staffing Your Organisation - A A Organisational Structure, N Strategies & Tactics Used By Leading N Panellists: 17.00 Compensation E GPs & LPs To Establish New & E EQT PARTNERS AB & Incentive Planning L Long Term Relationships L BUTLER CAPITAL PARTNERS “SuperInvestor offers unbeatable Moderator: D D P9 content and contacts” Moderator: I WILSHIRE PRIVATE I Arlett Tygesen, ILPA S MARKETS GROUP S PANEL DISCUSSION Panellists: C Panellists: C What’s The Worst Bit Of Guy Hands, CEO Derek Murphy U CANDOVER U Private Equity? TERRA FIRMA CAPITAL PARTNERS PSP INVESTMENTS S S IRISH NATIONAL PENSIONS Moderator: 17.20 Jan Faber S S I RESERVE FUNDS I Jon Moulton BREGAL INVESTMENTS ALCHEMY PARTNERS O Hg CAPITAL O Martin Day, OMERS CAPITAL Panellists: N Rho FUND INVESTORS N P8 P8/9 Jonny Maxwell STANDARD LIFE INVESTMENTS To Promote Yourself To This Fantastic Audience Contact 19.00 Ray Maxwell, PRIV-ITY - Networking Cocktail Party [email protected] +44 (0) 20 7915 5352 20.30 Hans Albrecht P9 NORDWIND CAPITAL P9 3 KN2129 SUPINV06 IN 31/5/06 11:19 am Page 4

DAY 1 MAIN CONFERENCE DAY ONE TUESDAY 14TH NOVEMBER 2006

08.30 Jonathan Blake, Senior Partner 12.00 Registration & Coffee SJ BERWIN Jonathan Blake is the Senior Partner of SJ Berwin LLP. He advises private equity funds, investing institutions and management teams on Special Guest Presentation 09.00 management buy-outs, venture and development capital investments and Chairman’s Opening Address: related taxation issues. He has a particular specialisation in advising Perspectives Of A private equity and venture capital fund managers in many countries in "Oh Dear - We're A Big Part Of The Economy" The Europe and elsewhere on the structuring of venture capital funds, Leading Scientist management companies and incentive arrangements. In Politics Of Private Equity April 2004, Jonathan was admitted to the BVCA “Hall of Fame” in recognition of his contribution to the private equity industry over the past Tomorrow’s Leaders – How 21st- Jon Moulton two decades. In April 2005, Jonathan was named global lawyer of the Century Technology, Society & The Managing Partner year for Private Funds by The International Who’s Who of Business Information Age Will Change The Demands Of ALCHEMY PARTNERS Lawyers. Investors and Entrepreneurs Alchemy is a UK-based private equity firm, which has ● How 21st Century technologies will transform our thoughts, invested €1billion of equity with an emphasis on dealing with troubled companies. Jon previously worked feelings and personalities with Citicorp Venture Capital in New York and , Talking ● The brain of the future Permira and Apax. He has been a director of five public GROWTH OF PRIVATE ● How might the entrepreneurial brain be different to others? companies, numerous private companies and is currently a director of the Baroness Susan Greenfield, Neuroscientist, US-based Irvin parachute business, the Cedar IT business, Sylvan EQUITY (timber), Wardle Storeys (industrial plastics) and Datapoint, a INTERNATIONAL EXPERT ON THE BRAIN, telecommunications business. 11.10 AUTHOR AND BROADCASTER Private Equity: Big, Or Monstrous? Examining The Fullerian Professor of Physiology and Comparative Anatomy, OXFORD UNIVERSITY Consequences Of Bigger & Bigger Deals & The Baroness Susan Greenfield heads a team of scientists who are focused Talking Effect This Will Have On Returns on the genetics of Parkinson's and Alzheimer's diseases. She is the first PRIVATE EQUITY GOES ● Defining boundaries: what is a mid market, what is a mega female director of the 204-year-old Royal Institution of Great Britain and a buyout deal; definitions have changed the past decade cofounder of two biotech start-ups that specialise in brain diseases. She holds a seat in the House of Lords, has hosted a BBC series on the PUBLIC ● Can Private Equity really claim to become a (more attractive) brain, and wrote The Human Brain: A Guided Tour. Her latest book is 09.30 substitute for the stock market titled Tomorrow's People. A woman of many talents, Susan Greenfield is ● Risk/return profiles for different deal sizes a pioneering scientist, an entrepreneur, a communicator of science and a policy advisor. Her career has taken her to the top institutions in , Private Equity In The Public Eye: Successfully ● Average purchase price multiple are converging across the the US and the UK. As an indication of the recognition of her work in the Dealing With The Challenges Created From size spectrum: what are the consequences physical basis of the mind, she has been awarded 21 Honorary Degrees Increased Public Scrutiny Of Private Equity ● Larger deals have been facilitated by a lenient/eager lending from British Universities, and has been a Forum Fellow at the World Activities environment; what if that changes Economic Forum at Davos for 3 years.

Moderator: Moderator: 13.00 Lunch George Anson, Managing Director Hanneke Smits, Partner HARBOURVEST PARTNERS (UK) LTD ADAMS STREET PARTNERS 14.15 - 14.45 George is a managing director with responsibility for Hanneke is Head of Global Partnership Investments at overseeing partnership and direct investments in Europe Adams Street Partners. In addition to managing the Post Prandial and other non-U.S. markets. He joined the Firm's London office, she is responsible for formulating global Q&A Session With Baroness Susan Greenfield London subsidiary in 1990. George's previous investment strategy; identifying investment Attend this informal q&a session in order to ask Baroness opportunities; with a focus on European and Asian experience includes seven years with Pantheon Ventures Susan Greenfield any questions that came up during her managing European private equity funds and companies. opportunities. She joined Adams Street Partners in 1997 from Pantheon Ventures and has fourteen years experience in Fund investment. Prior to presentation in a relaxed environment over a cup of coffee. Panellists: that, she worked in and Amsterdam for multinational companies including Philips China Hong Kong Group. Patricia Cloherty, Chairman & CEO Stream A DELTA PRIVATE EQUITY PARTNERS Panellists: Update On Venture Capital Patricia is manager of the U.S. Russia Investment Fund and Delta Russia Fund, L.P., two venture capital funds. Veronica Eng, Partner She is former Co-Chairman, President and General PERMIRA Chaired by: Jean Bourcereau, General Partner Partner of , Inc. (formerly Patricof & Co. Veronica is a member of Opco. She is the fund minder of VENTECH Ventures, inc.) She is a past President and Chairman of Permira European Funds and will perform this role for Jean joined Ventech in 2000. Prior to Ventech, he held several business the NVCA. In 1991, President George H.W. Bush appointed her to chair- Permira IV, with responsibility for fund issues such as development and management executive positions within the ALTRAN man of an Investment Advisory Council to revamp the Small Business strategy, portfolio weightings and diversification and Group (Euronext : ALT), dealing mainly with telecoms and consumer elec- Investment Company program of the U.S. Small Business Administration. currency. She has oversight of Permira’s Financing tronics customers. His last assignment was to create a wholly-owned From 1977 to 1978, Ms. Cloherty was Deputy Administrator, U.S. Small Group, transaction execution and firm-wide risk management. Veronica ALTRAN subsidary dedicated to strategic and technologic due diligences Business Administration, appointed by President Carter. In 1981, Ms. has worked on numerous transactions across sectors. Prior to joining for private equity firms. Before that, he gained international experience in Cloherty also was the founding President of the Committee of 200, a Permira in 1985, Veronica was Head of Corporate Finance at Schroder the telecommunications sector (Telecom Argentina) and in the prestigious organisation of the country’s leading women entrepreneurs Investment Bank in . semiconductor sector (AT&T Bell Labs in Murray Hill, NJ). and corporate executives. In 2004, she was named Business person of the Year by the U.S. Chamber of Commerce in Russia. Ian Armitage, CEO 14.45 Hg CAPITAL Peter Gale, Managing Director Ian has led Hg Capital since 1990 having joined in Capital Deployment Versus Capital Efficiency: LP GARTMORE PRIVATE EQUITY 1988. He previously spent 10 years with 3i plc, in Conflict & Impact On Venture Capital Peter joined NatWest Investment Management in 1983, London and . Ian has made over forty investments ● Increasing pressure for LPs to deploy substantial amounts of where he initially worked as a UK equity analyst, then across a wide range of industries, including the buy-out gained experience in UK Fund management and interna- of NTL. Ian served as chairman of the Investor Relations capital in private equity tional asset allocation. In 1990 he became responsible Committee of the British Venture Capital Association and ● Most private equity allocated to buy outs with increasing for the investment management of The National is a frequent speaker on private equity. He has a degree in Politics, competition and potentially lower returns Westminster Bank Pension Funds (which subsequently Philosophy and Economics from Oxford University. ● Venture capital continues as under-invested sector of private became The Royal Bank of Scotland Group Pension Fund). In 1994, he became a Director of NatWest Investment Richard Green, Managing Director equity Management. Upon the purchase of Gartmore in 1996 he became a AUGUST EQUITY ● Changes required to drive more investment in innovation and Principal of the enlarged fund management company and Head of the Richard joined Kleinwort Benson Development Capital venture capital Tactical Asset Allocation and Portfolio Strategy Group. In 2003 Peter (as the business was then called) in 1988. He has been became Managing Director of Gartmore Private Equity. Joseph Kelly, Managing Director, joint Managing Director of Kleinwort August Equity since Principal and Chief Executive Officer 2000. August Equity focuses on lower mid-market pri- Andrew Joy, Partner vate equity investments in UK growth companies valued CAPITOL HEALTH CINVEN between £10 – 100 million in the technology, media, Prior to joining Capitol Health, Joseph practised principally corporate and Cinven is the leading European buy-out house, which healthcare, and specialist manufacturing sectors. Richard was the commercial and specialised in venture capital, health care, corporate Andrew joined in 1992. He is responsible for fund-raising Chairman of the British Venture Capital Association from April 2003 to acquisitions, and corporate restructurings. He was the managing partner and is the principal point of contact for Cinven’s Limited April 2004. of the New York office of the Dow, Lohnes & Albertson law firm and in Partners. Andrew started his career in investment 1996 joined Manatt, Phelps & Phillips in Washington, D.C. as a banking, and has spent the past 23 years in private Wim Borgdorff partner. Mr. Kelly joined the first fund’s management team in 1998 as equity in Europe. He was Chairman of the British Venture Managing Partner and Head of Fund Executive Vice President, Chief Financial Officer and General Counsel. Capital Association, 1995–1996. Established in 1977, Cinven is one of Investments the most prominent and successful investors in the European buyout 15.05 market. ALPINVEST PARTNERS Prior to joining AlpInvest Partners, Wim was Managing Non Vanilla Venture - How Does Euro Venture Thomas Kubr, CEO Director of ABP Investments, where he led the CAPITAL DYNAMICS restructuring of ABP’s Real Estate activities as well as Adapt To The New World Order In Venture? Thomas is a Managing Director and CEO of Capital the setting up of ABP’s Alternative Investments unit. ● Vintage 04 & 05 fund raisings have created a profound gap Dynamics, a position he has held since 1999. Wim has more than 15 years’ investment management experience in between US & Europe alternative investments, including real estate, structured investments and Previously, he was the head of private equity at Partners ● Europe cannot respond by simply aping the US. It doesn't Group. Thomas was a consultant with McKinsey & private equity. Before joining ABP Investments, Wim was Managing Company from 1995 to 1997. He began his career as Director of ING Asset Management. have the firepower and risks competing for deals on US an aerospace engineer at the Space Division of Oerlikon terms Contraves. ● However the centre of gravity for small cap IPOs has moved to Europe in the form of AIM, and this establishes a new and 10.15 significant competitive advantage for Euro Venture Morning Coffee ● And....some key technology hot spots are as strong in Europe if not stronger than the US, e.g. MedTech, consumer 10.45 electronics, cellular, display technologies ● Therefore....Euro venture will succeed where it invests to SJ Berwin's Market Perspective: Anticipating these strengths Trends, Reviewing Challenges And Assessing Ernie Richardson, CEO Developments In The Fund Market Place & The MTI PARTNERS Impact Of The Buoyant Fund Market On Trends In Ernie has over 15 years’ experience in finance and general management in various process industries, prior to joining MTI in 1985. His career has Fund Terms & Conditions included various finance roles with speciality chemicals company Laporte ● Fund terms and conditions: how are they evolving and how is Industries, eventually becoming Group Management Accountant, and a the market affecting the deal for investors? spell in international banking with the Royal Bank of Canada. His final ● Are asset classes converging? Real estate, infrastructure, position before joining MTI was as the Chief Financial Officer in a $5 million start-up venture in the oil processing sector. At MTI he has been hedge and secondaries funds responsible for several of MTI’s most successful transactions and ● Update on taxation, legal and regulatory developments became CEO & Managing Partner in 2003.

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DAY 1 MAIN CONFERENCE DAY ONE TUESDAY 14TH NOVEMBER 2006

Helping portfolio companies work with major enterprises is a key Robert Manz, Partner objective for VCs. This panel draws together several major ENTERPRISE INVESTORS Talking corporates that each have different strategies for reaching out Robert is Member of the Board of Enterprise Investors, a leading private WHY LPS SHOULD to venture backed businesses, and will discuss: equity fund management company in Central Europe. Since 1990, TAKE EUROPEAN VC ● What VC backed businesses can expect from large Enterprise Investors has raised five funds with total capital under enterprises management of more than $1.1 billion and invested over $950 million in SERIOUSLY ● Whether co-investment helps or hinders co-operation 100 companies in the Central and Eastern European region. Robert joined EI as one of its first investment professionals in 1990. After 15.25 ● Whether co-investment makes it easier or harder for serving three consecutive years as the founding President of the Polish investors to achieve their objectives Private Equity Association, Mr. Manz is now a Vice-President of PPEA’s Why LPs Should Take European Venture Seriously: Moderator: . The Opportunity To Catch The Upswing As Simon Acland, Managing Director, QUESTER European GP's Create An Increasingly Simon, who joined Quester in 1988, is Managing Director of Quester and Sophisticated Venture Market has overall responsibility for Quester’s investment management activities. He has 20 years’ experience as a venture capital investor, preceded by a Talking GP view: spell as a member of the management team of a start-up company which LP PERSPECTIVES ON ● Venture performance 2006 & 2007: State of play, span out of Imperial College to develop hardware and software for predictions and views moving forward controlling industrial robots and machine tools. This gave him valuable INVESTING IN ASIA insights into the real issues facing start-up entrepreneurs and university ● The increasingly sophisticated European venture market: spin-outs. 15.25 new approaches being adopted by today's leading VCs to ensure success Panellists: LP Perspectives On Investing In Asia: Where Are ● VCs globetrotting: Navigating the international playing field Dr. David Rowe The Opportunities & What Are The Concerns? LP view: Director, EMEA Emerging Business Team ● Do LPs need to be investing in Asia now? Why? ● LPs are reducing/increasing their allocation to VC: Balancing MICROSOFT, EMEA, London ● How should LPs access the Asia private equity market- direct risk & return David works within Microsoft’s pan-European management team forging investing, use of or consultants? strategic relationships in the venture capital community as well as ● Raising LP confidence level: The factors that are driving LPs creating value in emerging businesses. Key to this role is the introduction ● Is it better to take a fully diversified approach to Asia or decisions (fund size, industry/market/geographic of external funding and go-to-market opportunities for the acceleration of focus on certain countries / sectors? disbursement of funds, management team) companies that develop innovative solutions on Microsoft’s .Net platform. ● In the four years prior to this, Dr. Rowe worked within Microsoft’s EMEA What are LPs' return expectations for their investments in ● LPs disclosure headaches Public Sector Team as an e-Government solution and strategy consultant Asia? leading innovative projects and programs with significant regional Moderator: partners and customers addressing solution co-development, cross- Moderator: Shamsa Rana, Director, IMDAD CAPITAL border intellectual property reuse and local economic development. Melissa Ma, Co Founder & Managing Director Shamsa has extensive deal and transaction exposure in the UK, Europe and US gained during her time with KPMG Transaction Services/Private John O’Donohue ASIA ALTERNATIVES MANAGEMENT COMPANY Equity, Egg Plc, Deloitte Financial Advisory, Associated New Ventures and Managing Director Founded in 2006, Asia Alternatives is a fund-of-funds platform dedicated Ariadne Capital. Her passion is new-media/converging media, where she to helping institutional investors make fund investments in private equity has an extensive network base and understanding of trends/ MOTOROLA VENTURES EMEA and other alternative asset classes across Asia. Prior to starting Asia John is responsible for identifying, executing and managing strategic, developments placing her in the ideal place to identify investment and Alternatives, Melissa was a Director at Hellman & Friedman LLC, a San minority-equity investments in Europe. He established Motorola Ventures Francisco-based private equity firm with $8 billion of committed capital. acquisition targets. She launched Imdad Capital Ltd. in May 2006 which in EMEA in September 2003 to build a portfolio of strategic investments is an investor in and an advisor of converging media focused businesses. Melissa was responsible for sourcing and monitoring the Firm’s in the region to support Motorola’s core and emerging businesses. With investments in financial and professional services and for the Firm’s the advent of Motorola’s Seamless Mobility strategy in 2004, John’s Limited Partner relationships and fundraising. Previously, Melissa worked Panellists: focus is on building equity investment alliances that complement at McKinsey & Co, Inc. and Goldman, Sachs & Co. Graham O’Keefe, Senior Partner, ATLAS VENTURE Motorola’s strategy of connecting people in the home, workplace and the spaces in between. He has completed 9 investments and 3 exits. Graham is a Senior Partner in the technology group. He joined Atlas Panellists: Venture in 1998 and focuses on investments in communications technology companies, particularly in the wireless and semiconductor Dr. Graeme Martin Olivia Ouyang, Investment Officer, sectors. Prior to joining Atlas Venture in 1998 Graham was Marketing President & CEO Private Equity & Investment Funds Department Director at handheld computer specialist Psion Computers. He previously TAKEDA RESEARCH INVESTMENT INTERNATIONAL FINANCE CORPORATION (IFC) held engineering and operational roles at Nokia Mobile Phones. Takeda Research Investment, Inc. is the silicon-valley based corporate Olivia joined IFC in 2005 and is responsible for existing portfolio fund venture arm of Takeda Pharmaceutical Company Ltd. Prior to his supervision as well as new fund investments in emerging markets, Christopher Smart, General Partner appointment with TRI, Dr. Martin provided biopharmaceutical consulting especially East Asia and Eastern Europe/Russia. Prior to this, she was IDG VENTURES EUROPE services to the industry and financial institutions. He has nearly 30 years Chief Financial Officer at Jupiter Partners, where she managed of pharmaceutical discovery and development experience in both Christopher is a founding partner of IDG Ventures, a venture capital accounting, finance and investments of $600 million private equity multinational Pharmas (Wellcome; Glaxo Wellcome: Hoffman La Roche) company that invests in technology companies across Europe. Prior to and biopharmaceutical companies (Telik Inc.) and has worked assets, and handled all aspects of fund operations including marketing, this he was Managing Director of Cambridge Research and Innovation extensively in Europe as well as the USA. investor relations & office administration. Before that, she was Manager, which he established in the 90’s as one of the pre-eminent specialist Corporate Strategy & Operations at Primedia Inc. in New York, and before early stage technology venture capital companies in the UK. He was that, she was Financial Analyst, investment banking for Morgan Stanley involved in funding from inception and the development of a range of Stream B Asia in Hong Kong. She started her career at McKinsey & Co in China as ventures among which are Cambridge Display Technology, Nanomagnetics Growing Opportunities In Emerging Markets a business Analyst. and Cambridge Positioning Systems Ltd. Martin Day, Vice-President Chaired by: Richard More, Partner Ari Jauho, Partner, PROVENTURE OMERS CAPITAL PARTNERS Proventure is a European Private Equity Fund of Funds manager estab- CURTIS MURRAY ASSOCIATES OCP is the organisation responsible for investing the Ontario Municipal Richard heads Curtis Murray's private equity executive search practice, lished in 1998. Proventure manages two Fund of Funds, and in addition, Employees Retirement System's (OMERS) private equity allocation. Proventure acts as the advisor and manager of Private Equity programs of placing investment and fund-raising professionals across Europe. The practice's coverage has extended to the and India since early Martin manages over 10 of OCP’s fund relationships in Canada, the US, three Nordic institutional investors. Proventure has over one billion euros Europe and Asia, has responsibility for the OCP Emerging Markets in Private Equity. Prior to joining Proventure in 2005. Before search, Richard worked for several years in London for a corporate finance boutique introducing transactions to UK venture strategy and has completed a number of co-investments in Canada and 2004, Ari held positions of increasing seniority for ten years in the the US. Martin has extensive experience with private equity funds and Finnish group Pohjola; as a Research Manager (Securities), and capitalists. Previously, Richard led a management team in a buyout of a Parisian luxury delicatessen business from Guinness plc. high growth companies, with specific expertise in private and public Vice President (Private Equity and Venture Capital). financings, , and domestic and international corporate transactions. Jean-Philippe Burcklen 14.45 Head of Division Venture Capital Operations Anders Strömblad, Head of Alternative Investments EUROPEAN INVESTMENT FUND (EIF) “New Europe”: Seizing Opportunities In Central & SECOND SWEDISH NATIONAL PENSION FUND Jean-Philippe oversees a EUR 1.8 bn portfolio in 130+ private equity and Eastern Europe - Why LPs Should Look Further (AP2) venture capital funds in seven European countries (Benelux, France, Afield Anders has been in charge of the asset class alternative investments at Greece, Italy, UK). He has eight years experience in the European Private ● the Second Swedish National Pension Fund since 2001 (Total assets Equity Market, mainly within the EIB Group, which he joined in 1995. His What is the opportunity in the region? How does it differ by country? approx 25 billion USD). The asset class also includes investments in real professional background is in Investment banking and Long Term Credit. estate. Anders has designed the investments strategy and business plan ● Is there an ability for the PE market grow? and is responsible for implementation. He is the first non US / Canada Hamish Mair, Director, Head of Private Equity ● Will the Pan European General Partners become more board member of ILPA and is a frequent speaker at private equity F&C ASSET MANAGEMENT active? conferences. Before he became head of alternative investments in AP2 Hamish joined F&C in June 2005 when the private equity he held senior management positions in the manufacturing industry. business of Martin Currie was acquired by F&C along with the Moderator: management contract for Martin Currie Capital Return Trust. As head of Moose Guen, Founder & CEO Innes Meek, Portfolio Director, CDC GROUP the team he is responsible for the investment performance of the trust Innes joined CDC Capital Partners in 1992 and is responsible for CDC and the business development of F&C’s private equity funds business. MVISION PRIVATE EQUITY ADVISERS portfolio investments in funds in China, Malaysia and Latin America. He MVision Private Equity Advisers is a leading independent specialised Hamish was with Martin Currie for 15 years, the last 9 as a director. In corporate finance business providing value-added services to General has been a Director of CDC since 1999. From 1988-92, Innes was a addition to private equity Hamish has managed investment trusts and Partners for fundraising, investor relations and other related activities, on Director of UK Project Finance Limited, which specialised in project other funds in the smaller companies sector and began his time at a global basis. Moose has worked in Private Equity for in excess of 15 finance and structured lending and BKR Financial Limited, a small Martin Currie in the Far East team. years and has worked on over 100 General Partnerships. corporate finance company specialising in project finance and venture capital. Between 1984 and 1988 he worked for Morgan Grenfell and Co Erez Shachar, Managing Partner Panellists: Ltd in the field of export and project finance. EVERGREEN VENTURE PARTNERS Thierry Baudon Erez joined Evergreen in January 2004 and is mainly focused on 16.05 Evergreen’s investments in software companies. He joined Evergreen Managing Partner from NUR Macroprinters Ltd., where he served as CEO and President MID EUROPA PARTNERS Afternoon Tea since 1997. Under his direction, NUR increased its revenues sevenfold Thierry is a founding Partner of Mid Europa Partners and oversees the by significantly penetrating global markets. Company sales increased investment strategy and portfolio management policy of the firm. Prior to 16.35 from $16 million to over $120 million per year in less than four years. founding Mid Europa Partners, he was CEO of EMP Europe for six years. Erez also led several acquisitions during his period as CEO of the Previously, he headed the International Finance Division of the SUEZ Examining The Private Equity Opportunity in South company. Group and held senior positions with the EBRD and the World Bank/IFC Group. Africa From An LP Perspective: What Prospects 16.05 Michael Calvey Does The Market Offer? Afternoon Tea Founder and Co-Managing Partner ● The economic and political development of the country has BARING VOSTOK CAPITAL PARTNERS (BVCP) fostered a vibrant private equity market 16.35 Mike is also a Director of Baring Private Equity International, a global ● The market is dominated by a limited number of players private equity firm headquartered in London with $ 2 bn under which have long track records of superior returns Topic & Speaker TBC management. He has been living and working full time in Moscow since 1994 as the co-head of the investment team managing the First NIS ● The institutional and legal structures are substantially more Regional Fund (NIS Fund) and the Baring Vostok Private Equity Fund. Prior developed than other emerging market countries to Baring Vostok, Mr. Calvey worked at the European Bank for ● LP interest has significantly picked up, with a number of the Reconstruction and Development where he was responsible for several of Talking the Bank’s investments in the oil and gas sector in Russia. large international LP’s now having exposure VC – THE CORPORATES’ Antony Ball, Executive Chairman, BRAIT PERSPECTIVE Chris Mruck, Partner Antony is a co-founder of Brait’s private equity business. He has led 16.55 ADVENT INTERNATIONAL fundraising, investor relations and governance for a number of Brait’s Chris joined Advent in 1997. Prior to Advent, he worked for over 10 years funds, and has been responsible for investments in media and in corporate and project finance. His experience included positions with communications, consumer products, information technology, security The Corporates’ Perspective: What Opportunities the European Bank for Reconstruction & Development, where he headed and agricultural services among others. Antony qualified as a Chartered Do They See In Europe & What Pitfalls Do VCs and developed its Czech office, and with Deutsche Bank in the U.K. and Accountant before founding and building a division of Deloitte See In Co-Investing? Singapore. Management Consulting, where he led and executed strategy, organisation and merger and acquisition engagements.

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DAY 1 MAIN CONFERENCE DAY ONE TUESDAY 14TH NOVEMBER 2006

16.55 Stream C Rhonda Ryan Future Of The Mid Market Head of Private Equity China In The Global VC/LBO Arena INSIGHT INVESTMENT ● China’s position in the global Private Equity (VC & LBO) Chaired by: GMT COMMUNICATIONS PARTNERS Rhonda is Head of Private Equity at Insight Investment. Insight landscape Investment is the asset manager of Halifax Bank of Scotland (HBOS) group and has in excess of Euro100bn funds under management. As ● Recent VC/LBO development in China (investments, exit, Talking Head of Private Equity, Rhonda has overall responsibility for overseeing performance) FUTURE OF MID the global private equity investment programme at Insight Investment. In Martin Haemmig aggregate she manages a portfolio of over Euro 1bn for a number of Adj. Professor, Globalisation of Venture Capital MARKET institutional clients. Rhonda is also Chairman of Insight’s private equity 14.45 investment committee and serves on the board of a number of fund CeTIM (CENTER FOR TECHNOLOGY & advisory boards. Prior to joining Insight Investment, Rhonda managed the INNOVATION MANAGEMENT) What Is The Future For The Mid Market In A New European private equity portfolio of The Industrial Bank of Japan (IBJ) in Martin’s venture capital research covers 13 countries in Asia, Europe, London. Israel, and USA. He lectures at UC Berkeley, Stanford, UniBW Munich, Private Equity World Of SuperSized Funds & ETH Zurich, as well as at China’s Peking, Tsinghua, Renmin, Fudan, and Boutiques? Simone Cimino JiaoTong University. He is an advisor to the World Economic Forum Managing Partner and Chairman working group on “Nurturing China’s early-stage Venture Capital” and is Moderator: NATEXIS CAPE author for books on the Globalisation of Venture Capital (English & Simone is Natexis Cape's founder and chairman. From 1995 to 1999 he Chinese). He was appointed as expert and faculty to the China Research Tim Green, Managing Partner was partner and CEO of LBO Italia, advisor of Europe Capital Partners Center at UC Berkeley for China. GMT COMMUNICATIONS PARTNERS and Donaldson Lufkin & Jenrette, where he was mainly involved in Tim is an original partner of GMT. He joined in 1993 and has 15 years origination, legal negotiation and portfolio management. Prior to that he private equity investment experience, initially focused on early stage high worked for six years in Montedison group, where he was responsible for technology financings and more recently on the communications industry. acquisitions, divestments, restructuring and strategic planning. He also He spent 3 years with BPEP, originally as group finance director, and sub- founded and managed Advance, a financial advisor for M&A / Private Talking sequently as an investment partner. OPPORTUNITIES Equity deals. IN CHINA Panellists: 17.15 Philip Buscombe, Chief Executive 16.05 LYCEUM CAPITAL (FORMERLY WEST PRIVATE Afternoon Tea Examining The Outlook For Buyout & Venture In S EQUITY) P China From An LP & GP Perspective Philip has twenty-three years' experience of private equity, corporate Stream C ● E Is the private equity asset class in China a goldmine or a development and turnarounds in Europe and the US. He co-founded WPE Latest Developments In Secondaries black-hole? (now Lyceum Capital) in 1999. Before establishing WPE, Philip C restructured Fii Group plc, a £100m company providing apparel, footwear ● Is it now time to invest in local or international VC/LBO firms Chaired by: David Tegeler, Partner I and accessories, turning it round from substantial losses to profits. in China? PROSKAUER ROSE A Between 1989 and 1996, Philip jointly managed and developed the ● How do the most successful VC/LBO funds invest in China European private equity operations at Investcorp, a leading international David is Co-Chair of the Firm's Private Equity Group and concentrates in L the areas of corporate and securities law, with a particular emphasis on ● What are the market entry options for foreign VC/LBO firms buyout group, where he was a director of Investcorp Inc (US) and Investcorp Ltd. private equity transactions. His experience includes representation of and for institutional investors? private equity fund managers in capital formations, portfolio investments E ● Doing VC/LBO business in china – opportunities and pitfalls Dominique Peninon, Managing Partner and Co-Founder and governance issues. He also has a substantial practice representing X ● What kinds of deals represent homeruns in China? U.S. and Non-U.S. institutional investors and investment advisors in the ACCESS CAPITAL PARTNERS private equity field. T ● Business models vs. technology opportunities? Dominique has close to 25 years of private equity experience, after a first E ● How do markets differ in China vs. the rest of world? career in investment banking. He is a past president of AFIC (French Venture Capital Association) and a former member of the EVCA Executive 16.35 N ● What will the new RMB fund structure look like? Committee. Access Capital Partners is a fund of funds manager created D ● Exit channels (IPO and M&A) and current valuations? in 1999 and based in Paris. It currently has 1.2 billion Euros under Examining The Nature & Extent of The Current E ● Are state-owned enterprises high risk or opportunities? management. Secondaries Opportunity ● Do’s and don’ts for VC/PE funds in China? ● D Louis Elson, Managing Partner Settling the score: the state of the market and recent ● Any specific investment considerations for institutional developments PALAMON CAPITAL PARTNERS ● P investors in China? Palamon Capital Partners is a pan-European private equity firm that Louis Charting the options and anticipating the obstacles: a value added bespoke product? A Moderator: co-founded in 1999 to focus exclusively on mid-market growth companies. With ten partners operating out of a single office in London, ● Role of Secondaries: liquidity? N Martin Haemmig, € Palamon currently manages over 1 billion of capital and has made Mark Mifsud, Partner, SJ BERWIN E investments in almost two dozen companies across eight countries. Prior Adj. Professor, Globalisation of Venture Mark is Partner in the Private Equity Team of the Corporate Finance to founding Palamon, Louis was a London-based partner of E. M. L Department. He advises private equity managers in relation to the Capital Warburg, Pincus & Co. CeTIM (CENTER FOR TECHNOLOGY & structuring and establishment of private equity investment funds, secondaries, incentive schemes, carried interest arrangements and D Senior Venture Partner INNOVATION MANAGEMENT) Patrick Smulders, co-investment plans. Mark has extensive experience in a wide range of I (see above for bio) TOWERBROOK CAPITAL PARTNERS jurisdictions, and also advises on related matters and general corporate S Patrick is a member of the TowerBrook Investment Committee. Prior to finance. Panellists: the formation of TowerBrook and since April 2004, he was a Managing C Director at Soros Private Equity. Previously, he was a Founding Partner U Fanglu Wang, Managing Director and Managing Director at Doughty Hanson, London from 1993 to 2003. S CITIC CAPITAL MARKETS HOLDING CITIC Capital Markets Holdings Limited is the interna- Talking S tional investment banking arm established by CITIC THE SUPPLY SIDE I Group in providing a full range of to both private and institutional clients. Fanglu Wang is in 16.55 O Talking charge of its merchant banking business. He has over SECTOR OR N 14 years experience in capital markets, corporate finance, financial engi- GEOGRAPHY? Private Equity Secondaries: The Supply Side neering and derivatives. He is former Head of Product Marketing and ● How has the seller landscape evolved and what will it look S Sales for China, HSBC, Director in Investment Banking and Debt Capital 15.25 Markets, Merrill Lynch Asia, Vice President, Citibank Hong Kong, and like in the future? P Executive Director, Sakura Global Capital. Sector Or Geography: How Should Middle Market ● Has there been a parallel evolution in what is being sold? E ● How does a seller find the appropriate buyer in today’s Christoph Rubeli, Partner, Buyouts Funds Differentiate Themselves In C market? Asia and Middle East Region Europe? I PARTNERS GROUP ● Competitive advantage: Language and culture versus sector A Moderator: Partners Group is a leading global alternative asset knowledge – or both? Brian Wright, Partner L manager listed on the Swiss Stock Exchange. With ● How relevant is the US fund manager model to Europe? assets under management in excess of USD 9 billion and POMONA CAPITAL ● a global team of over 150 professionals in five offices, Do sector focused funds need to be Pan-European? And are Brian has been responsible for Pomona’s European activities since 1998. E the firm is one of the largest alternative asset managers country focused funds literally investing only in country? He was formerly a Director at the Hambro Private Equity Group, having X worldwide. Christoph has responsibility for deal and manager origination ● Does fund size matter in the debate? begun his career in private equity at Schroder Ventures. Founded in 1994, Pomona Capital is a global private equity investment firm focused T and client relationships in the Asia-Pacific and the Middle East region. on the purchase of primary and secondary interests in top performing Moderator: E Claude Leglise, venture capital and buyout funds and currently manages over $3.4 Graham Clempson N Managing Director US Office billion. European Managing Partner D WI HARPER GROUP E WI Harper is a Silicon Valley and Greater China fund MIDOCEAN PARTNERS Panellists: with over 10 years of business in Asia, using a bridge Prior to his current position, Graham was European Managing Partner of Stephen H. Can, Managing Director, D DB Capital Partners and CEO of Morgan Grenfell Private Equity (MGPE). model between the two regions. Claude is responsible Alternative Capital Division for making and managing investments in US-based Previously Mr. Clempson was Co-Head of European Investment Banking at P companies building businesses across the Pacific. Deutsche Bank, with particular responsibility for the Bank's Financial CREDIT SUISSE FIRST BOSTON Claude combines extensive global venture investing experience with a Sponsor Coverage, Leveraged Finance and High Yield departments. Steve is based in New York. He is the Founding Managing Director and A long track record in technology marketing and operations, gained during Global Fund Head for CSFB's exclusive secondary funds. Steve joined N his 23 year career at Intel. As VP at Intel Capital, he was responsible for Panellists: CSFB in November 2000 when the Firm merged with Donaldson, Lufkin & E over 150 equity investments in 25 countries. Roger Holmes Jenrette. He joined DLJ in August 2000 from the IBM Corporation. Steve was with the IBM Corporation for sixteen years with the last seven years L Daniel Mintz, Managing Director US Office Managing Director in IBM Pension Funds. At IBM Pension Funds, he was a Senior OLYMPUS CAPITAL HOLDINGS ASIA CHANGE CAPITAL PARTNERS Investment Manager in the Private Markets Group and co-managed the $7.9 billion private markets portfolio. D Olympus Capital Holding Asia is an independent Prior to joining Change Capital, Roger was CEO of Marks and Spencer having joined in 2001. Prior to this, Roger was with Kingfisher where he I investment management firm focused exclusively on Kane Brenan, Vice President, Asian private equity. Since its establishment in 1997, was Chief Executive of the electrical sector and a Main Board director. In S Olympus Capital has invested more than US$ 750 1994, he became Finance Director of B&Q and three years later Private Equity Group C million on behalf of funds and co-investors in more than transferred to Woolworths as Managing Director. Roger had previously GOLDMAN SACHS spent seven years as a strategy consultant for McKinsey & Co, latterly as 20 companies throughout Asia. Daniel has Kane is a Portfolio Manager focusing on primary, co-investment, and U principal, specialising in retail and consumer goods. approximately 20 years of private equity investment and M&A experience secondary investment opportunities. He is also a member of the S in Asia and the United States. Prior to founding Olympus Capital, he was Charles Diehl Investment Committee. Kane joined Goldman Sachs as an Associate in S head of Asia for Morgan Stanley Capital Partners, the former private 1998. He joined the Private Equity Group from the Investment Banking I equity arm of Morgan Stanley. Partner Division of Goldman Sachs, where he worked in the Technology, Media and Telecommunications and Leveraged Finance Groups. O ACTIVA CAPITAL Gael de Barmon, Managing Director Charles has over 18 years private equity experience in France. Prior to N NATEXIS PRIVATE EQUITY ASIA founding Activa Capital, Charles had co-founded Barclays Private Equity Andrew Sealey, Managing Partner Operating from 3 offices located in Hong Kong, France (BPEF) in 1991. Formerly, Charles was a Partner of one of CAMPBELL LUTYENS Shanghai and Taipei, NPEA has invested in 29+ France's first private equity funds, Pallas Venture, and prior to that Campbell Lutyens is independent specialist advisory firm founded in companies since end of 1999 in Greater China (China worked for Paribas. He has been responsible for a number of successful 1988 and focused exclusively on the private equity markets. Andrew and Taiwan principally). NPEA is member of the Natexis and high profile MBOs in France. He is a graduate of the University of joined Campbell Lutyens in 1990, having previously worked for DHIM, a Private Equity network. Prior to NPEA, Gael worked in and holds an MBA from the Wharton School. He lectures on specialist listed and unlisted investment manager. He was appointed to Hong Kong from 1995 to 1999 for The Industrial Bank private equity at INSEAD and EVCA Institute. the board of Campbell Lutyens in 1994 and became the managing of Japan as Head of the Bank Asian Private Equity Activities. partner in 2003.

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DAY 1&2 MAIN CONFERENCE DAY ONE & TWO TUESDAY 14TH WEDNESDAY 15TH NOVEMBER 2006

Joe Topley, Investment Director 09.30 GREENPARK CAPITAL Talking Joe’s previous experience includes a senior position in a How Do LPs Refine Their PE Programmes In Light FUTURE OF THE specialist investment bank in London, Partner in an early stage venture Of Current Market Conditions: Allocation, Access, capital fund in Geneva and six years at CSFB in London and Madrid. Alignment Of Interest, Diversification, Return INDUSTRY 17.35 - 18.35 Expectations 11.30 Examining The Future Prospects For The Industry: NETWORKING CHAMPAGNE ROUNDTABLES Ivan Vercoutére, Partner These informal roundtables provide the ideal opportunity for LGT CAPITAL PARTNERS How Will It Change & Grow, & Where Will The New Ivan joined LGT Group in 1998 to lead its private equity NETWORKING – a main priority at SuperInvestor. Take full activities. Prior to joining LGT Group, he was Vice Teams Come From? advantage of this opportunity to talk face-to-face with some of the President and investment committee member of Pacific ● Mega funds and mega fundraising: How events of the last conference’s keynote speakers, and to raise any specific issues Corporate Group (PCG), a California-based private equity twelve months will forever change the face of private equity advisor and manager, where he was responsible for the ● with them that you evaluation, due diligence, negotiation and monitoring of Going public: Learn the latest information on the European didn’t get a chance to U.S. and European private equity investments on behalf IPO vehicles, and how they affect GPs and LPs hear about during their of major institutional investors, including The World Bank, CalPERS, the ● Shifting sands: With all the turnover of people between firms, State of Oregon, the State of Rhode Island and PCG’s funds of funds. LGT presentations. This is CP is dedicated to providing value-added private equity and hedge funds what is the right way to evaluate an investment team? the time to find the investment management programs and services to ● Future shock: What will the private equity landscape look like solutions to your most institutional investors. in three years? How to prepare today pressing personal challenges, and to Moderator: form strategic Talking Rick Hayes relationships with industry players in a relaxed and informal WHAT’S WORRYING Managing Partner atmosphere, over a chilled glass of champagne. INVESTORS? OAK HILL INVESTMENT MANAGEMENT Rick is focused on managing the assets for a select 1. The Politics Of Private Equity 09.55 group of ultra-high-net-worth families and global financial institutions. Prior to Oak Hill, Rick was the Senior Jon Moulton, Managing Partner Thinking Out Of The Box- What Should Investors Investment Officer for the CalPERS Alternative ALCHEMY PARTNERS Be Really Worrying About? Investment Management Program. CalPERS is the nation’s largest ● Hedge funds - gatecrashing the party? pension fund, with roughly $200 billion in assets. Rick & his team built and managed a $20+ billion portfolio of private equity and 2. Private Equity In The Public Eye ● Debt markets- what happens when the music stops? investments, the largest in the world. From 2000-2004, Rick served as George Anson, Managing Director ● Concentration of cash in the top tier? the elected Chairman of the ILPA. HARBOURVEST PARTNERS (UK) ● Creeping regulation? Panellists: ● Investment committee’s impressions of PE from the Derek Murphy 3. The Challenges Of Fund Raising In The Lower Mid-Market newspapers? Richard Green, Managing Director, AUGUST EQUITY ● Or something entirely different….. First Vice President, Private Equity Moderator: PSP INVESTMENTS 4. Venture Capital: Upswing/Downswing - Where Is Europe In The Derek joined PSP Investments in March 2004. From Cycle? Carol Kennedy, Senior Partner 1998 to 2004, he was President and Chief Executive Shamsa Rana, Director, IMDAD CAPITAL PANTHEON Officer, as well as founder, of Barnridge Inc., a private Carol is one of the three Senior Partners jointly responsi- investment company. Prior to Barnridge, he worked in the ble for the leadership and direction of Pantheon. investment banking sector from 1986 to 1997 for such 5. Opportunities In Asia Pantheon is a global private equity fund of funds provider companies as J.P. Morgan and Swiss Bank Corporation Warburg. Melissa Ma, Co Founder & Managing Director with some $12bn under management on behalf of a worldwide client base. Since 2004 Pantheon has been Chris Masterson, CEO ASIA ALTERNATIVES MANAGEMENT COMPANY wholly owned by Russell Investment Group. Carol has been a member of the GIPS Executive Committee of the CFA Institute (formerly AIMR) and MONTAGU PRIVATE EQUITY 6. The Evolution Of Power: Managing LP-GP Conflicts chairs its Private Equity and Real Estate Subcommittee responsible for the Chris became Managing Director in 2000 and in 2003 creation of GIPS. She also chairs the Stakeholder Education Subcommittee. led the Montagu Private Equity buyout from HSBC where Hanneke Smits, Partner Within Europe, she has been an Executive Board Member of the EVCA and he is now CEO. He joined HSBC Private Equity in 1999. ADAMS STREET PARTNERS the chair of the EVCA Conferences and Member Services Committee. Prior to that, he was Executive Director of Castleforth Panellists: Fund Managers Limited playing a major role in the cre- ation of a portfolio of medium sized investments and the 7. Opportunities In The Mid Market From An LP Perspective Sandra Robertson, Co Head Portfolio Management formation of a successful BES Fund and advisory business. Dominique Peninon, Managing Partner & Co Founder THE WELLCOME TRUST ACCESS CAPITAL PARTNERS Sandra is Co Head of Portfolio Management in the Investment Division of Peter McKellar the Wellcome Trust. The Wellcome Trust is the world’s largest medical research charity, whose investment asset base is approximately £13.0 Investment Director 8. Bigger, Biggest, Bust??" The Relentless Growth Of The Private billion. The portfolio management team are responsible for managing all of STANDARD LIFE INVESTMENTS Equity Fund the Trust’s investment assets, including real estate, infrastructure, equities, buyouts and venture. Prior to this Sandra was responsible for (PRIVATE EQUITY) Patricia Cloherty, Chairman & CEO building & managing the Trust’s Private Equity, Direct and Hedge Fund Peter is a member of the Investment Committee, and DELTA PRIVATE EQUITY PARTNERS Portfolios. She is a member of the Investment Committee for the undertakes both fund and co-invest direct investments. Wellcome Trust. He also manages the day to day activity of Standard Life 19.00 - 20.30 European Private Equity Trust, Standard Life’s £250 million private equity Nikos Stathopoulos, Partner trust. Standard Life Investments currently manages in excess €3.7billion Networking Drinks Reception BC PARTNERS of private equity money on behalf of around 60 clients world-wide. Nikos joined from Apax Partners where he spent seven years working on large buy-out transactions in many Bruce Barclay MAIN CONFERENCE DAY 2 European countries. Prior to this, he spent three years as a management consultant at the Boston Consulting Partner Wednesday 15th November 2006 Group in London. He is a member of the Harvard Business School European Leadership Council and of the ADVENT INTERNATIONAL EVCA buy-out committee. Bruce joined Advent in 1997. He has over 17 years of 08.30 private equity and mergers and acquisitions experience Reception & Coffee Christina Pamberg, Director, KKR and six years experience of working in industry. Prior to Christina joined Kohlberg Kravis Roberts & Co. in 2005 Advent, Bruce worked for KPMG Corporate Finance, 09.00 and is responsible for investor relations, capital raising specializing in private equity transactions, and Hill and co-investment syndication activities for Europe. Prior Samuel Investment Banking, moving from previous roles in the computing Chairman’s Welcome: to joining KKR, she was with HarbourVest Partners (U.K.) and high technology industries. Bruce has been involved in over ?2 billion Ltd. In her five years at HarbourVest, Ms. Pamberg was of completed transactions and was a key member of the team raising the Jonny Maxwell, Chief Executive, involved in various aspects of fund-of-funds investing latest two buyout funds, the most recent being the €2.5bn / €3.3bn covering primary, secondary and direct co-investments, 2005 Europe/USA buyout fund, GPE V. Private Equity most recently serving as a Vice President in STANDARD LIFE INVESTMENTS HarbourVest’s secondary group. Prior to that, she was an equity analyst at (PRIVATE EQUITY) Salomon Smith Barney in London. 12.15 Jonny has overall responsibility for the strategic Marc St John, Managing Director, development, investments and managing and marketing of European Business Development Special Guest Presentation SLIPE. SLIPE currently manages in excess €3.7billion of private equity money on behalf of around 60 clients world-wide. Jonny joined The Standard CVC EUROPE Life Assurance Company, Europe’s largest mutual company in 1989, & in Marc joined CVC in 1998 having previously worked for Insights From A Leading January 1993 he assumed responsibility for the entire portfolio, then Citicorp for 13 years. At Citicorp, he held various comprising over 70 private equity funds and direct investments. positions, including head of Capital Markets France, Managing Director in charge of Capital Structuring Academic Europe, new product development in the Global Perspectives Consumer Bank and in charge of Special Projects for ex-chairman, Partnership Or Peril? Strategies For Effective OF AN INDUSTRY John S. Reed. General Partner/Limited Partner Relationships In A Period Of Flux VETERAN 10.40 Morning Coffee Josh Lerner 09.05 Jacob H.Schiff Professor of Investment Asia – Opportunity Or Bubble? Examining The 11.10 Banking HARVARD BUSINESS SCHOOL Risks & Rewards Of Investing In Asia Is Government Regulation Going to be the New Josh is the Jacob H. Schiff Professor of Investment ● What is Asia risk? Reality for Private Equity? Examining Recent Banking at Harvard Business School, with a joint ● Can you make money in Asia? appointment in the Finance and Entrepreneurial Trends Management Units. He graduated from Yale College with a special ● How do you make money in Asia? ● Heightened Scrutiny Divisional Major that combined physics with the history of technology. He ● What sort of returns should investors expect? ● Increased Media Attention worked for several years on issues concerning technological innovation Ray Maxwell, Founder & CEO ● Focus on Transparency and public policy, at the Brookings Institution, for a public-private task force in Chicago, and on Capitol Hill. He then obtained a Ph.D. from ● Increased Litigation priv-ity Limited Harvard’s Economics Department. Much of his research focuses on the Ray has been involved in investment management for Robin Painter, Partner structure and role of venture capital organisations. This research is over thirty years and has specialised in all forms of collected in two books, The Venture Capital Cycle and The Money Of private equity for twenty years. He is the Founder of PROSKAUER ROSE Invention. priv-ity Limited, a company that provides strategic advice Robin is Co-Chair of the Private Equity Group. She concentrates in the areas to private equity groups and to corporations. He is the of corporate and securities law with a particular emphasis on private equity Chairman of Magnolia Investment Management, a private transactions, both domestic and foreign. Robin advises private equity fund equity group that invests in energy and media situations in China, he is managers, institutional investors and investment advisors on a broad range 13.00 Chairman of Azimuth Asset Management Limited, an alternative asset of issues, including capital formations, secondary transactions, portfolio management group, he is a Venture Partner of INVESCO Private Capital investments, internal governance and distributions and divestments. Lunch (IPC); a New York based private equity manager and is an advisor to a UK quoted Technology Company advising on strategy.

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DAY 2 MAIN CONFERENCE DAY TWO WEDNESDAY 15TH NOVEMBER 2006

Melissa Ma John Clark, Managing Director Stream A SPECIAL EXTENDED LP WORKSHOP Co Founder & Managing Director PERFORMANCE EQUITY MANAGEMENT ASIA ALTERNATIVES MANAGEMENT COMPANY John is Board member of Performance Equity Management. He is “The Private Equity Life Cycle” Founded in 2006, Asia Alternatives is a fund-of-funds platform dedicated responsible for recommending and monitoring new private equity to helping institutional investors make fund investments in private equity partnership investments, and evaluating and managing direct private Co-Chaired by: and other alternative asset classes across Asia. Prior to starting Asia equity and mezzanine debt opportunities. Performance Equity Arlett Tygesen Alternatives, Melissa was a Director at Hellman & Friedman LLC, a San Management was formed in June 2005 as a joint venture between Francisco-based private equity firm with $8 billion of committed capital. General Motors Investment Management Corporation (“GMIMCo”) and the Executive Director Previously, Melissa worked at McKinsey & Co, Inc. and Goldman, Sachs & Private Markets Team of GMIMCo. Performance Equity Management will INSTITUTIONAL LIMITED Co. At McKinsey, in addition, as Founder of McKinsey’s Institutional continue to be the exclusive manager of private equity for the General Investor Practice, she helped leading institutional investors develop private Motors pension plans. In addition, Performance Equity manages PARTNERS ASSOCIATION equity strategies, as well as served as an advisor to the ILPA. Performance Co-Investment, L.P. Performance Global Fund of Funds, L.P. (ILPA) and Performance Venture Capital, L.P. Rick Hayes 17.00 Andrew Beaton, Partner Managing Partner Staffing Your Organisation - Organisational GLENALTA CAPITAL Andrew is a co-founder of Glenalta, a specialist European private equity OAK HILL INVESTMENT Structure, Compensation & Incentive Planning firm developing a suite of co-investment management and advisory MANAGEMENT Moderator: services for large institutional investors. He has been investing capital in Arlett Tygesen, Executive Director, ILPA private equity and structured finance for nearly 20 years. Andrew joined GE 14.30 Capital in 1988 and held a number of senior positions in Europe and the Panellists: US before being mandated in 1995 to set up GE Equity Europe. Andrew ILPA Overview & The Importance Of LP Networking Derek Murphy left GE in late 1999 to establish his own firm, Langholm Capital LLP with a partner and support from Unilever. The firm raised over €240 million Arlett Tygesen, Executive Director, ILPA First Vice President, Private Equity and was 35% invested when Andrew left in late 2004 to establish The ILPA is an international trade association of limited partner investors Glenalta. in the private equity asset class. Arlett has worked with the organisation PSP INVESTMENTS (see above for bio details) as Executive Director since June 2003. The ILPA is a non-profit organization committed to serving limited partner investors in the global Jan Faber, Managing Director 15.50 private equity industry by providing a forum for facilitating value-added BREGAL INVESTMENTS Afternoon Tea communication, enhancing education in the asset class and promoting Jan joined Bregal in 2004 from Henderson Private Capital, the private research and best practices in the private equity industry. Arlett was equity division of Henderson Global Investors, where he was the head of previously with the Private Equity Fund Investment Group of OMERS the global private equity fund of funds business. Prior to joining Merchant Banking and Private Placements joining the newly-formed group Henderson, Jan was a private equity specialist for the International in 1999. The Private Equity Fund Investment Group was responsible for Finance Corporation (IFC) in Washington D.C. and was involved in building and managing an internationally diversified portfolio of private managing a US$1 billion emerging markets private equity fund of funds Talking equity fund and co-investment opportunities. program. Before IFC, Jan was a senior investment officer for FMO in the LP STRATEGIES Rick Hayes, Managing Partner Netherlands where he co-founded the private equity group which was involved in direct and fund investments. 16.20 OAK HILL INVESTMENT MANAGEMENT Rick is focused on managing the assets for a select group of ultra-high- Martin Day, Vice-President Where Are The Savvy LPs Placing Their Bets in net-worth families and global financial institutions. Prior to Oak Hill, Rick Europe and Around The World & What Does It Take was the Senior Investment Officer for the CalPERS Alternative Investment OMERS CAPITAL PARTNERS Management Program. CalPERS is the US’s largest pension fund, with OCP is the organisation responsible for investing the Ontario Municipal To Win A Commitment? roughly $200 billion in assets. Rick & his team built and managed a $20+ Employees Retirement System's (OMERS) private equity allocation. Martin ● What is a savvy LP? manages over 10 of OCP’s fund relationships in Canada, the US, Europe billion portfolio of private equity and hedge fund investments, the largest ● Where have most investors chosen to commit capital over the in the world. From 2000-2004, Rick served as the elected Chairman of and Asia, has responsibility for the OCP Emerging Markets strategy and the ILPA. has completed a number of co-investments in Canada and the US. Martin course of the past 12 months? has extensive experience with private equity funds and high growth ● What have the contrarians chosen to commit to? 15.10 companies, with specific expertise in private and public financings, ● How attractive are funds in Europe vs US, Asian or global mergers and acquisitions, and domestic and international corporate funds now? transactions. Asset Allocation & Risk Management Strategies ● How do successful LPs market themselves to GPs? Moderator: Rick Hayes, Managing Partner Stream B Moderator: OAK HILL INVESTMENT MANAGEMENT LP Perspectives Sasha van de Water, Managing Director Panellists: Chaired by: WILSHIRE ASSOCIATES KEYHAVEN CAPITAL PARTNERS Sasha is a co-founder of Keyhaven Capital Partners Limited. She has 13 Derek Murphy, First Vice President, Private Equity years experience in European private equity fund selection, most recently PSP INVESTMENTS 14.30 at AXA Investment Managers where she was Managing Director Derek joined PSP Investments in March 2004. From 1998 to 2004, he responsible for developing the European private equity fund of funds was President and Chief Executive Officer, as well as founder, of Barnridge programme. At AXA she led the European marketing and investing efforts Inc., a private investment company. Prior to Barnridge, he worked in the EXTENDED Q&A of the London-based business. She also set up, managed and developed investment banking sector from 1986 to 1997 for such companies as J.P. Morgan and Swiss Bank Corporation Warburg. SESSION the London based business including hiring and managing a six person team. Prior to AXA, Sasha was a Director with South Street Advisors, an Rhonda Ryan, Head of Private Equity affiliate of BT Alex. Brown. INSIGHT INVESTMENT “OFF THE RECORD Panellists: Rhonda is Head of Private Equity at Insight Investment. Insight Charles van Horne, Managing Director, Investment is the asset manager of Halifax Bank of Scotland (HBOS) WITH JOSH LERNER” group and has in excess of Euro 100bn funds under management. As Marketing and Client Services Head of Private Equity, Rhonda has overall responsibility for overseeing the HARVARD BUSINESS SCHOOL ABBOTT CAPITAL MANAGEMENT global private equity investment programme at Insight Investment. In Charlie is responsible for Abbott’s business development and client aggregate she manages a portfolio of over Euro 1bn for a number of services activities. He has over 20 years involvement with private equity in institutional clients. Rhonda is also Chairman of Insight’s private equity the U.S. and overseas. Prior to joining Abbott in 2001, he was a Managing investment committee and serves on the board of a number of fund Director of AIG Capital Partners, Inc. (a subsidiary of American advisory boards. Prior to joining Insight Investment, Rhonda managed the European private equity portfolio of The Industrial Bank of Japan (IBJ) in Talking International Group, Inc.), responsible for AIG Capital Partners’ fund London. CO-INVESTMENTS development and client services and serving on the investment committees for several of its direct investment funds and funds of funds. CalPERS (tbc) 15.10 Prior to joining AIG, Charlie was Managing Director of Creditanstalt The Whys And How Of LPs And GPs Participating International Advisors, where he established and managed its private equity investment activities. 15.50 In Co-Investments Afternoon Tea ● Does co–investment add value for LPs? Stephan Breban, Managing Director ● Why should GPs offer co-investment? CITY CAPITAL PARTNERS 16.20 ● Managing the co-investment process from the perspective of Stephan has experience advising institutional clients on a wide range of GPs and LPs subjects, including manager structures and strategy, investment manager Selecting, Monitoring, Assessing & Exiting Your selections, manager monitoring, and general investment consulting. Portfolio Moderator: Stephan pioneered Watson Wyatt's research into private equity and hedge Moderator: Don Morrison funds. Rick Hayes, Managing Partner Senior Vice President OMERS CAPITAL PARTNERS Paul F Denning, Chief Executive Officer OAK HILL INVESTMENT MANAGEMENT Don leads the Direct/Co-investment program at OMERS Capital Partners DENNING & COMPANY Panellists: Inc. (OCPI). He spent ten years with PricewaterhouseCoopers in Corporate Paul founded Denning and Company in 2001 to serve the private equity Finance focused on restructurings and turnarounds and eight years as Anders Strömblad, Head of Alternative Investments fundraising needs of both veteran General Partners seeking only to Senior Vice President with one of Canada’s largest venture capital funds broaden their L.P. base, as well as the next generation of Private Equity originating and structuring expansion and buyout investments. OCPI is the SECOND SWEDISH NATIONAL PENSION FUND Managers, requiring a more elaborate fundraising effort. Paul has raised private equity arm of the Ontario Municipal Employees Retirement System (AP2) (OMERS), a $44 billion Canadian Pension fund. OMERS has committed to funds based in the U.S., Asia, UK/Europe and Israel. He joined Hambrecht Anders has been in charge of the asset class alternative investments at a 10% allocation to private equity through OCPI. & Quist in 1995, as Managing Director of the Private Equity Market Group the Second Swedish National Pension Fund since 2001 (Total assets in San Francisco and integrated into the Private Fund Group as co-head approx 25 billion USD). The asset class also includes investments in real Panellists: following the Chase Manhattan acquisition in 1999, and subsequently, the estate. Anders has designed the investments strategy and business plan merger with JP Morgan in 2001. and is responsible for implementation. He is the first non US / Canada Jim Pittman board member of ILPA and is a frequent speaker at private equity PSP INVESTMENTS conferences. Before he became head of alternative investments in AP2 he Jim joined PSP Investments in February 2005. From 2002 to 2005, he held senior management positions in the manufacturing industry. was Executive Vice-President and Chief Financial Officer of Provincial Aerospace, an internationally diversified aerospace and aviation Billy Gilmore, Investment Director, Private Equity operations company focused on aircraft modifications and operations. Talking SCOTTISH WIDOWS INVESTMENT PARTNERSHIP Prior to Provincial, he was CFO and co-owner of two other operating INVESTOR RELATIONS businesses in the technology and pharmaceutical industries that were 17.00 (“SWIP”) taken through successful public and private sale processes. Billy is responsible for SWIP’s private equity activities. In 2001 SWIP re- established a private equity programme on behalf of the Scottish Widows Strategies & Tactics Used By Leading GPs And life fund which involves investing in a diversified portfolio of private equity LPs To Establish New & Long Term Relationships funds. SWIP has also a mandate from the Lloyds TSB pension funds to ● What strategies are LPs adopting to build relationships with invest up to 2.5% of total scheme assets in private equity funds. The "An unmissable opportunity to meet primary focus of this mandate is investment in European buyout funds. desirable GPs? Billy sits on the advisory committees of various private equity funds and is the industry leaders" ● What LP tactics turnoff GPs? a director of the Private Equity Investors Association. Prior to joining SWIP ● How do GPs actively manage their LP bases and the in October 2000, Billy spent 10 years with Murray Johnstone Private increasing role of LP investor relations by GPs? Equity. Peter McKellar, Investment Director STANDARD LIFE INVESTMENTS ● What characteristics make a successful GP/LP relationship? CalPERS (tbc)

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DAY 2 MAIN CONFERENCE DAY TWO WEDNESDAY 15TH NOVEMBER 2006

Moderator: Nick Petrusic, Director INTERACTIVE DEBATE – Daniel Allen, Managing Director & Principal GSC PARTNERS EUROPE WILSHIRE PRIVATE MARKETS GROUP Nick joined GSC Partners in June 2000 as part of the firm’s European AUDIENCE PARTICIPATION REQUIRED! Dan manages the WPMG European Team and is responsible for expansion and the launch of its €1 billion European Mezzanine Fund. He origination, due diligence, and monitoring of buyout and venture capital was previously with National Westminster Bank plc, where his career 17.20 investments in Europe. He is also a member of the WPMG Investment included relationship banking and various Credit Department roles involv- Committee. Dan serves on the advisory board of partnerships managed by ing Mid-corporate and Major corporate lending. Nick moved into the What’s The Worst Bit Of Private Equity? Alpha, Private Equity Partners, Procuritasl, Quadriga Capital and Carmel Leveraged Finance market in 1990 when he joined the bank’s Acquisition Moderator: Ventures. Finance Department. Jon Moulton Panellists: Elliott Jones, Managing Partner Managing Partner Gordon Hargraves, Partner GLEACHER MEZZANINE ALCHEMY PARTNERS Rho FUND INVESTORS Gleacher Mezzanine is a $300 million institutional fund with a focus on Alchemy is a UK-based private equity firm, which has Gordon is responsible for managing Rho Fund Investors ("RFI"), which com- sponsored private equity transactions. Elliott joined Gleacher Partners in invested €1 billion of equity with an emphasis on mits to venture capital and other specialised private equity funds whose 1996 after 22 years at The Chase Manhattan Bank. In 1987, he dealing with troubled companies. Jon previously worked strategies afford unique advantages, such as domain expertise, opera- established Chase’s subordinated debt principal and placement group. In with Citicorp Venture Capital in New York and London, Permira and Apax. tional expertise or focus on a particularly attractive sector. Since 1981, this capacity he originated, supervised, structured and monitored a He has been a director of five public companies, numerous private RFI has committed in excess of $1.9 billion to over 125 private equity portfolio of subordinated debt investments as well as placed companies and is currently a director of the US-based Irvin parachute funds. Prior to joining Rho, Gordon was responsible for the approximately $500 million of junior securities. The group was merged in business, the Cedar IT business, Sylvan (timber), Wardle Storeys developing and managing the private equity program at the National Bank 1990 with the Merchant Banking Group and Mr. Jones’s mandate was (industrial plastics) and Datapoint, a telecommunications business. of Kuwait, which included leading direct investments, co-investments and broadened to include senior debt, high-yield debt, mezzanine debt, private private equity fund investments. equity and advisory work. Panellists: Piers Dennison, Investor Relations Director Jonny Maxwell 15.50 CANDOVER Chief Executive, Private Equity Afternoon Tea Piers joined Candover in 2003. He is responsible for co-ordinating STANDARD LIFE INVESTMENTS Candover’s fund raising activities, and for managing relationships with (PRIVATE EQUITY) existing and potential limited partners in the Candover funds. Piers 16.20 Jonny has overall responsibility for the strategic started his career in 1988 as an investment banker with S.G. Warburg, Private Equity Going Public – Listings Of Private development, investments and managing and marketing where he worked on private placements of non-US securities to US of SLIPE. SLIPE currently manages in excess €3.7billion of private equity investors. Before that Piers was a management consultant at the Boston Equity Funds & Feeders money on behalf of around 60 clients world-wide. Jonny joined The Consulting Group. Mark van Dam, Counsel Standard Life Assurance Company, Europe’s largest mutual company in Ronan Cunningham, Head of Private Equity LOYENS & LOEFF 1989, & in January 1993 he assumed responsibility for the entire portfolio, then comprising over 70 private equity funds and direct Loyens & Loeff is a leading Benelux private equity law firm. Mark has IRISH NATIONAL PENSIONS RESERVE FUNDS investments. been a lawyer since 1996 practicing New York and Dutch law in New York, Ronan was formerly a Partner with Adams Street Partners, a Chicago London and Amsterdam, with a particular focus on international private based private equity fund-of-funds manager. Previously he worked at HSBC equity, both in respect of fund formation and buy-outs. Ray Maxwell Investment Bank. He holds an MBA from INSEAD and a Bachelor of Founder & CEO Commerce from University College Dublin. priv-ity Limited Craig Donaldson, Partner, Client Services Ray has been involved in investment management for Hg CAPITAL TalkingDISTRESSED over thirty years and has specialised in all forms of Craig has over 16 years experience in advising institutional investors on private equity for twenty years. He is the Founder of priv-ity Limited, a company that provides strategic advice global alternative investment strategies. Professional responsibilities have 16.40 to private equity groups and to corporations. He is the Chairman of included investment acquisitions and disposals, portfolio management, Magnolia Investment Management, a private equity group that invests in financial analysis, fundraising and client service. In addition to having over- Distressed Investing In Europe: Has The Tide energy and media situations in China, he is Chairman of Azimuth Asset all responsibility for client services and fundraising, Craig co-ordinates the Turned? Management Limited, an alternative asset management group, he is a ● firm’s co-investment activities, supervises the firm’s investment Distressed is well established in the US – has the tide turned Venture Partner of INVESCO Private Capital (IPC); a New York based private marketing function and oversees a number of legacy portfolio investments. in Europe? equity manager and is an advisor to a UK quoted Technology Company ● Are any particular geographic areas or industry sectors more advising on strategy. attractive than others? ● The legal framework: Differences in bankruptcy law and its Hans Albrecht Stream C impact ● Debt vs. equity: Is there an optimal way to invest? Managing Director Alternative Perspectives on Private Equity Moderator: NORDWIND CAPITAL Chaired by: HELIX ASSOCIATES Kelly DePonte, Partner Prior to founding Nordwind Capital, a private equity 14.30 company which targets mid cap restructurings PROBITAS PARTNERS investments in German speaking Europe, Hans was Lessons Of History: Private Equity Themes Kelly is Head of Research and Due Diligence for Probitas Partners, an co-head of Carlyle Europe Partners, the European buyout fund of The alternative investment placement and advisory firm. Prior to joining Carlyle Group. Before co-founding Carlyle Europe, Partners in 1997, Hans Re-Examined Through 19th Century Events Probitas, Kelly was Chief Operating Officer and Managing Director at was managing partner of IMM Munich, one of the leading German private John Barber, Director Pacific Corporate Group (PCG), a leading provider of alternative investment equity companies at that time. advisory, management and consulting services to institutional and high net HELIX ASSOCIATES worth clients worldwide. John joined Helix in 1997 and is responsible for its relationships with GPs 19.00 - 20.30 & LPs in Scandinavia, The Netherlands, Scotland and the US. Before joining Helix, he co-founded a start-up venture in the specialty foods Panellists: business in the US, & was a principal at WSGP Partners in Los Angeles. Håkan Johansson, Senior Partner Networking Drinks Reception He is a member of the Investor Relations Committee at EVCA. EQT PARTNERS AB Håkan is responsible for EQT Opportunity that was established in 14.50 December 2005. He joined EQT Partners AB in February 1999 after having worked for Volvo from 1978 to 1994. In 1989, Håkan started up Volvo “The Never Ending Story”? An Examination Of The Group Finance in Amsterdam and in 1991 he became Vice President and Treasurer of the Volvo Group. In 1994, he left Volvo to take a position as Private Equity Industry Through The Movies Senior Vice President and Head of Mergers and Acquisitions at Electrolux. Sally Collier, Partner In 1996, Håkan was appointed president of Electrolux Wascator and division head of Industrial Laundry Equipment. PANTHEON Sally joined Pantheon in 2003 and has 10 years of private equity experi- ence. She is a senior member of the European team with responsibility for Walter Butler, President client service and marketing. Prior to joining Pantheon, Sally had over 20 BUTLER CAPITAL PARTNERS years experience in investment banking, working during the latter half of Prior to founding Butler Capital Partners in 1990, Walter Butler was this with private equity funds in Europe and their portfolio companies. Managing Director of Goldman Sachs in New York and London. From 1986 Sally’s role incorporated financing and entry and exit strategies, including to 1988 he was in charge of privatizations in the media sector at the trade sales and IPOs. Sally spent 2 years at the Federal Reserve Bank in French Ministry of Culture and Communications. From 1983 to 1986 he the US before joining investment banking. was Inspecteur des Finances at the French Treasury. Talking MEZZANINE STUNNING NEW VENUE 15.10 Mezzanine: The Invasion Of The Hedge Funds? ● Hedge funds: friend or foe? FOR 2006! ● Impact on pricing & leverage ● Hot money or here to stay? Moderator: SuperInvestor 2006 will take place at the WESTIN HOTEL, PARIS, one of the most luxurious Martin Stringfellow, Director INDIGO CAPITAL hotels in the city, overlooking the magnificent Tuileries Gardens. This historic landmark hotel Martin is a founder and director of Indigo Capital, the leading independent European mezzanine provider created in 1999 by the former directors of is ideally located in the very heart of Paris's history and culture, just a few steps away from Kleinwort Benson unit. Indigo is currently investing a €475mn mezzanine fund raised in January 2003, the fourth in a series of the Louvre Museum and Place de la funds totalling €1bn. As a founder member of Kleinwort Benson’s European mezzanine team in 1990, Martin has focussed on the Concorde. The meeting rooms are German-speaking mezzanine market for 15 years. amongst the most beautiful in Paris, Panellists: Robin Doumar, Managing Partner including three salons featuring PARK SQUARE CAPITAL impressive second empire-style frescos. Park Square Capital is the largest independent Mezzanine Fund in Europe with €1.05 billion of L.P. commitments. Prior to founding Park Square, Robin spent 15 years with Goldman Sachs in London and New York. Over that period his responsibilities included: heading Goldman Sachs’ European Mezzanine business, heading European Leveraged Finance and heading the U.S. Workout and Restructuring Advisory business.

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DAY 3 MAIN CONFERENCE DAY THREE Thursday 16th November 2006

08.30 Hans Albrecht, Managing Director NORDWIND CAPITAL Registration & Coffee Perspectives Prior to founding Nordwind Capital, a private equity ON FUNDRAISING company which targets mid cap restructurings 08.55 investments in German speaking Europe, Hans was co-head of Carlyle Europe Partners, the European buyout 10.05 fund of The Carlyle Group. Before co-founding Carlyle Chairman’s Welcome: Europe, Partners in 1997, Hans was managing partner of Mark Weston, Partner World Class Fundraising Skills & Strategies: IMM Munich, one of the leading German private equity ELECTRA PARTNERS EUROPE Successfully Positioning Your Fund For The 2007 companies at that time. Mark joined Electra Partners in December 2000 having Market Lionel Assant, Principal previously been a Director of Morgan Grenfell Private ● Implications of a maturing investor marketplace. THE BLACKSTONE GROUP Equity for 10 years. From 1985 to 1990 he worked at ● Investor relations “best practices” Lionel is a principal in the Private Equity group and is Close Private Equity becoming a Director in 1987. From ● How big an impact listed vehicles will have based in London. Since joining Blackstone in 2003, he has been involved in various European investments or 1983 to 1985 Mark was an Investment Professional at ● Where to find relatively untapped investor markets 3i. Prior to joining 3i he spent four and a half years at Price Waterhouse in investment opportunities. Before joining Blackstone, Kevin Albert Lionel worked for seven years at Goldman Sachs in the London where he qualified as a Chartered Accountant. Mergers & Acquisitions, Asset Management, and Private Managing Director Equity divisions. ELEVATION PARTNERS Kevin is responsible for the investor relations functions of David Slade, Managing Director Talking Elevation Partners. Elevation Partners is a newly formed Head of European Syndicated Loan Group ASIA’S GLOBAL FUTURE private equity firm that makes large-scale investments in CREDIT SUISSE FIRST BOSTON market-leading media, entertainment, and consumer- David is Head of the European Syndicated Loan Group 09.00 related businesses Kevin has twenty-four years of experience working with within the Leveraged Finance Group of CSFB. In this institutional investors. Prior to joining Elevation, he was a Managing capacity, he is responsible for overseeing the Waking Giants - Examining Asia's Global Future: Director and the Global Head of the Equity Private Placement Group at underwriting and distribution of all loan assets in Europe and the secondary par loan sales and trading operations. Which Strategy Should Private Equity Firms Take? Merrill Lynch & Co where he led a market leading private equity fund David joined Credit Suisse First Boston in November 2000 from placement business as well as a unit that syndicated minority interest Donaldson, Lufkin & Jenrette, where he was a Managing Director and Moderator: private equity and co-investment opportunities to institutional investors. Head of European Senior Debt Capital Markets. He joined DLJ in May John Campbell, Senior Partner Prior to that role, Kevin served in a variety of generalist investment 2000 from CSFB where he had been a Director in the Syndicated Finance banking roles at Merrill Lynch. group since 1997 with primary responsibility for corporate acquisition and CAMPBELL LUTYENS & CO LBO transactions. John co-founded Campbell Lutyens, the independent London-based private equity advisory firm, in 1988. John 10.30 12.05 has been involved in corporate finance and private equity Morning Coffee since joining N M Rothschild in 1969. From 1973 to 1987 he was an executive director of Noble Grossart, "Its All In The Details": Creating Value On The Way the Edinburgh-based financial adviser and private equity manager. From Into & Out Of Recent French Investments 1979 to 1982 he was additionally MD of McLeod Russel plc, the Analysis ● Getting along with management – cutting their deal international agri-business group with principal operations in Africa, India, ● Preparing the ground with the potential buyers or the seller Indonesia, Papua New Guinea and . He is a board member of the OF DEBT MARKETS ● Pacific Pensions Institute. The merits of vendor due diligence and stapled finance ● Efficient execution Director, Panellists: 11.00 Jean-Lou Rihon, PPM CAPITAL Jean-Lou joined PPM Capital in 1991 and now heads the Jonathan Colby, Managing Director Paris office. He started his career in the construction THE CARLYLE GROUP It Is What It Is: The State Of The Market Today equipment industry in the USA and Europe and then worked for a number of financial institutions including SG Jonathan works with investors as well as serving on the ● Credit trends to date Investment Committee for Carlyle Japan Partners, Warburg. He is a member of the supervisory board of ● Carlyle's first Japanese fund launched Lessons from the past Histoire d’Or. Jean-Lou is a member of PPM Capital’s in 2001. Prior to joining Carlyle in 1998, he was a Senior ● Implications for alternative investments Investment Committee and was formerly a supervisory Managing Director and member of the Board of Directors Howard Marks, Chairman board member of Moliflor Loisir and Orefi. of Equinox Group Holdings, Ltd., a merchant bank OAKTREE CAPITAL MANAGEMENT specialising in private equity investments and corporate advisory services in Asia. Prior to that, he was a General Partner of The Blackstone Group, Oaktree Capital Management, started in 1995, manages Special Guest Presentation and before that was head of Asian mergers and acquisitions at The First investments in high yield bonds, domestic and Boston Corporation in . While at Blackstone and First Boston, international convertibles, distressed debt, real estate, Jonathan worked on acquisitions by Asian companies of U.S. companies private equity, mezzanine debt, mezzanine loans and 12.25 as well as Asian market¬ entry strategies for U.S. multinationals. emerging markets. It also manages the pre-existing TCW Special Credits Funds for distressed debt investments under arrangements Insights From An Entrepreneur: Turning Ideas Into Wayne Harber, Managing Director with Trust Company of the West. The total capital committed to Oaktree’s Reality HAMILTON LANE accounts and funds exceeds $30 billion. From 1985 to 1995, Mr. Marks Michelle Mone, Founder & Co-owner Wayne is responsible for the firm's business was employed at The TCW Group, Inc., where he became Chief Investment MJM INTERNATIONAL, makers of the development activities outside of the United States, Officer for Domestic Fixed Income at Trust Company of the West and presi- including Europe, Asia, Japan, Australia, the Middle East, dent of its largest affiliate, TCW Asset Management Company. Ultimo Bra Creator of the bust-boosting Ultimo bra, Michelle Mone is and Canada. His responsibilities include structuring a highly successful entrepreneur and marketer. She also separate account products, and the execution of appears in BBC’s Mind Your Own Business, advising fund-raising and investor relations activities in conjunction enterprises on what they are doing right and where they with the firm's relationship managers. Wayne joined Hamilton Lane from are going wrong, and offering straightforward suggestions Stone Pine Asset Management, LLC and Stone Pine Advisors, LLC, where FINANCIAL Talking on how to increase turnover. Due to a family illness, Michelle left school at he was a Partner and Managing Director. Prior to joining Stone Pine, ENGINEERING fifteen with no qualifications. After a brief spell as a fashion model, she Wayne was Senior Vice President of Marketing for Aegis Holdings took a job making the tea at Labatts. Just eighteen months later, she was Corporation. 11.20 made head of the Canadian brewer's Scottish salesforce. Michelle How Hot Can The Debt Markets Get? Examining launched her own company, MJM International, after noticing a gap in the Chris Rowlands, Managing Partner lingerie market for a comfortable cleavage-enhancing bra. The company The Impact Of Financial Engineering On The initially acted as a distributor for silicone breast enhancers, to keep money 3i rolling in while Michelle worked on her own creation. After three years’ Chris has been a member of the Executive Committee and the Investment Private Equity Landscape development, the Ultimo Bra was launched at Selfridges amidst huge Committee of 3i Group plc since 2002. He has responsibility for 3i's ● Relationship: Is relationship banking dead? Mid-cap vs mega media interest. The store sold their entire stock within 24 hours. Then it geographic network in Europe and Asia and market facing Group support. deals. was famously worn by Julia Roberts in Erin Brockovich, and it’s now the The development of the business in Asia is a specific focus including India ● Credit risk vs liquidity: Do lenders discriminate between good fastest growing ‘intimate apparel’ brand in Europe. Success has led to the and China. Chris previously worked at Barclays Bank, before first joining 3i expansion of the Ultimo collection - with lingerie, underwear, nightwear and in 1984. He became 3i's Midlands Regional Director based in Birmingham and average credits or is the decision based on market swimwear. The company has since secured the licence in 45 countries for before joining Arthur Andersen as a Partner in 1996. clearance? some of the biggest lingerie brands, making MJM an important global ● Leverage/refinancing risk - how high can it go? Is debt player. They have also launched ‘Michelle for George’, for ASDA. Michelle Bruno Raschle, Founder & CEO amortisation dead? is widely regarded as one of Scotland's most promising entrepreneurs. ● Disintermediation - will institutions oust the banks and go The secret lies in her constant hunger to develop new products, always ADVEQ striving to come up with new ways of looking at problems. Her speeches Bruno has over 20 years of experience in direct and direct to PE firms? are inspirational, entertaining and down-to-earth: they’re about how to turn indirect venture capital investing. He was the founder and ● Default risk - what macro/micro issues threaten to destabilise ideas into reality. Managing Director of the MC Partners fund of funds our business? investment programs at Motor Columbus, . He has launched ten funds of funds, has financed over a ● Reaction to underperformance - what will be the impact of 13.15 dozen start-up companies and served on several of their broad syndication and the liquidity offered by distress funds Lunch boards. when leveraged businesses underperform? 14.30 Moderator: Insights Jonathan Russell, Managing Director, 3i Jonathan joined 3i in 1986. He became responsible for Post Prandial FROM AN INDUSTRY the European buyout business and joined the 3i Group Q&A Session With Michelle Mone Management Committee in 1999, having previously run Attend this informal q&a session in order to ask Michelle any FIGUREHEAD the investment offices in Southampton and Leeds. questions that came up during her presentation in a relaxed Jonathan has led the strategic and operational changes environment over a cup of coffee. 09.40 which have transformed the performance of 3i's buyout business. Today, he is Managing Partner and has day-to- What Are The Implications Of The Recent & day responsibility for the direction of 3i Buyouts and its investment Ongoing Mammoth Fundraising: Can - & Should - strategy. He chairs the Buyout Investment Committee. Jonathan is a The Pace Be Sustained? former Chairman of the European Private Equity and Venture Capital Association Buyout Committee. Talking Guy Hands, CEO FUNDRAISING TERRA FIRMA CAPITAL PARTNERS Panellists: Guy began his career at Goldman Sachs International. He Johannes Huth, Member, KKR 14.50 became Head of Goldman's Global Asset Structuring Johannes has been with Kohlberg Kravis Roberts & Co. Group where he was responsible for the origination and (KKR) for seven years. He is a member of the Retail Fundraising in 2007: Examining GPs' structuring of securitisation deals. Guy left GS in 1994 to industry team. Mr. Huth also manages KKR’s operations Differentiation Strategies & LPs’ Allocation found the Principal Finance Group at Nomura in Europe, drawing on his significant experience in this International. In 2001, Guy founded Terra Firma Capital market. He is a member of the Investment and Operating Choices Partners to advise on the businesses he had bought for Nomura and to Committees. He started his professional career with ● Gaining attention in a crowded market - how important is set up a new private equity fund, Terra Firma Capital Partners II. Guy was Salomon Brothers in the Mergers and Acquisitions elected a Global Leader of Tomorrow of the World Economic Forum in branding? department in New York and London where he was a Vice President. ● Creating and sustaining momentum in fundraising 2000 in recognition of his achievements. Following that, he worked with Investcorp in London, where he was a Member of their Management Committee and was jointly responsible for ● Over-subscribed funds - how should LPs sell themselves? operations in Europe. ● Where should LPs look for out-performance?

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Day 3 MAIN CONFERENCE DAY THREE Thursday 16th November 2006

Moderator: Steven Costabile scheme assets in private equity funds. The primary focus of this mandate Ian Simpson, Managing Director is investment in European buyout funds. Billy sits on the advisory Managing Director, committees of various private equity funds and is a director of the Private HELIX ASSOCIATES Head of Private Equity Funds Group Equity Investors Association. Prior to joining SWIP in October 2000, Billy Ian co-founded Helix in 1993 and is responsible for spent 10 years with Murray Johnstone Private Equity. relationships in the UK. He has arranged mandates with AIG GLOBAL INVESTMENT GROUP a number of European and US private equity fund Steven joined AIG Global Investment Group in 2000 and Christopher Masek managers. Since 1988, he has raised funds from a wide is the Managing Director of the Private Equity Funds range of UK- and US-based institutional investors and Group. His current responsibilities include overseeing all Partner large private groups. In addition, Ian is also responsible for corporate private equity funds investments in the developed INDUSTRI KAPITAL finance work undertaken by Helix. markets, as well as sourcing, due diligence, monitoring product development, and marketing. Steven’s private equity investing and Christopher joined the firm in 2000. From 1990 to 2000 he worked as a founding partner of KPMG Corporate Panellists: valuation experience dates back to 1990. Previously, he was a Vice President at Credit Suisse First Boston (CSFB) in the Private Funds Group. Finance in Paris. Mr Masek graduated in 1987 from Mark Weston, Partner Institut d'Etudes Politiques de Paris and also holds a degree in Law from Paris University and an MA in ELECTRA PARTNERS EUROPE International Economics from Yale university. Mark joined Electra Partners in December 2000 having previously been a Director of Morgan Grenfell Private Talking Dr. Hanspeter Bader Equity for 10 years. From 1985 to 1990 he worked at Close Private Equity becoming a Director in 1987. From ADDING VALUE Managing Director 1983 to 1985 Mark was an Investment Professional at 15.30 UNIGESTION 3i. Prior to joining 3i he spent four and a half years at Price Waterhouse in Hanspeter is in charge of Unigestion’s Private Equity London where he qualified as a Chartered Accountant. Value Added: What Does It Actually Mean & How activities. He is particularly responsible for investment strategy and business development. He has been with Christopher Kojima Many GPS Offer It In Reality? Unigestion for seven years and has played a key role in Moderator: the growth and development of the private equity Managing Director & Co-Head, business. Prior to joining Unigestion, Dr Bader spent ten years with UBS in Private Equity Group John McLaren Switzerland and the UK, involved particularly in private equity and GOLDMAN SACHS ASSET Managing Director leveraged finance. MANAGEMENT MONUMENT GROUP Peter Laino Chris is a Managing Director. Based in New York, London, John, until co-founding Monument Group in 1994, was San Francisco, Tokyo, and Hong Kong, the Private Equity Managing Director - Alternative Assets at the Virginia Managing Director Group represents over 80 professionals and manages over $15 billion in Retirement System. He reviewed, recommended and MONITOR CLIPPER PARTNERS capital commitments across primary partnerships, co-investments, and oversaw the System's commitment to more than $2 Peter joined Monitor Clipper Partners in 1998. Previously, secondary investments. Chris is also a member of the PEG Investment billion of private investments, including venture capital, leveraged buyouts, he was a vice president in the acquisition group of K-III Committee. Previously, Mr. Kojima specialised in leveraged buyouts in distressed investments, mezzanine and growth equities, managed futures Communications Corporation, a media holding company Goldman Sachs' Leveraged Finance Group, where he served as Business and real estate. As a well-known investor in alternative assets, John was formed by KKR. Earlier, he was an associate in the Unit Manager and a Secretary of the Firm's Commitments Committee. an active participant on fund advisory committees. corporate finance group of Dillon, Read & Co., Inc., a principal of Riverside Partners, a small Monitor-sponsored buyout fund, Jos van Gisbergen Panellists: and a consultant at Monitor. Director Alternative Investments Billy Gilmore MN SERVICES Investment Director – Private Equity, 16.15 Jos was groups-controller for The Citco Group where he SCOTTISH WIDOWS INVESTMENT Close of Conference was closely associated with the expansion of their banking activities, the European and Asian expansion of PARTNERSHIP (“SWIP”) the company, hedge fund administration services as well Billy is responsible for SWIP’s private equity activities. In To Promote Yourself To This Fantastic Audience as direct participations/ take-overs. After 3 years he 2001 SWIP re-established a private equity programme on moved over to became co-manager of a Brussels based family-office. From behalf of the Scottish Widows life fund which involves Contact [email protected] 1993 onwards Jos was at Intercapital (which became part of Alpinvest in investing in a diversified portfolio of private equity funds. SWIP has also a +44 (0) 20 7915 5352 1998). He has been in his current role since September 2000. mandate from the Lloyds TSB pension funds to invest up to 2.5% of total SPONSORS Principal Sponsor: NPE’s autonomous investment teams work in close France's leader - in private equity contact with entrepreneurs. These teams, devoted to financing for small and mid scale SMEs, are staffed by no more than ten professionals because responsiveness, continuous support, and enterprises 16 NPE teams the contribution of specialized expertise generate    strong performance and maximize the chances of EPF Partners Finatem Initiative & Finance    Natexis Private Equity, Entrepreneurs in success. Krokus MCH Private Equity Natexis Cape Private Equity Natexis Equity Management  Natexis Industrie    Natexis Private Equity is one of the pioneers—as well The 16 NPE teams, operating from 14 offices, serve Natexis Investissement Natexis Mercosul   as France’s leader—in private equity financing for all private equity compartments in all sectors and in Natexis Private Equity Asia Naxicap Partners     small and mid-scale enterprises, with nearly 700 eight economies of Europe, Northern Asia, and South Providente Spef LBO Seventure Ventech investments in its portfolio and over €2,345 million America. They are supported by Natexis Private in assets under management. Equity’s strong commitment as a lead investor in its vehicles.

Principal European Law Firm Principal US Law Firm Co-Sponsor:

Sponsor Sponsor: Capitol Health is a leading, highly specialized venture capital firm making primarily early-stage equity investments in health care services and health care information technology companies in Proskauer’s Private Equity Group has experience in all facets of the United States and Western Europe. Capitol Health’s funds invest in innovative health care the private equity market and represents hundreds of clients services companies which have the potential to worldwide. lead multi-billion dollar market segments. The The fundamental objective of SJ Berwin LLP is to provide success of Capitol Health’s strategy is outstanding legal advice in a dynamic environment. We advise sponsors and institutional investors on a broad range demonstrated by investments in industry-leading of issues, including fund formation and structuring, internal companies including PharmaNet, AmSurg and We take pride in our ability to devise innovative and governance and succession planning, investment transactions, OrthoNet. The funds’ Principals have global commercially viable solutions to complex problems, and we are acquisition or sale of interests on the secondary market, health care networks that provide significant proprietary deal flow, proud to have helped our clients to achieve their business goals liquidity events, distributions, tax planning, regulatory facilitate due diligence, and provide operational and financial value through original, practical thinking. compliance, portfolio company dispositions through mergers and added to portfolio companies. acquisitions or initial public offerings, management buyouts and SJ Berwin has one of the largest dedicated private equity teams in Europe offering the full range of private equity services. Our leveraged recapitalizations, compensation and estate planning for partners. leading position in the buy-out, public to private and venture PPM Capital is a leading provider of capital market is complemented by our market leadership in private equity finance, primarily private equity fund establishment, which encompasses primary Our attorneys serve on advisory boards to private equity trade focused on mid-market management funds, funds of funds, secondary funds and portfolio associations and panels, contribute to publications and provide buy-outs and buy-ins with a transaction acquisitions. counsel to regulatory authorities on issues affecting the industry. value of between €75 million and €500 million. PPM has been an investor in private equity for Recent accolades include. Proskauer is one of the largest full service law firms in the U.S., nearly twenty years and has a highly experienced team of twenty • Law Firm of the Year 2004 - 2006 (European Venture Capital with approximately 700 attorneys. Headquartered in New York five investment professionals operating from an established Journal Private Equity Awards) office network in London, Munich and Paris. PPM has extensive • Best Law Firm Fund Formation 2002 - 2006 (Private City since 1875, the Firm has offices in Los Angeles, Washington D.C., Boston, Boca Raton, Newark, New Orleans and Paris. experience in most industry sectors and has developed EquityOnline and Private Equity International) significant expertise in the healthcare, leisure, retail, business • UK Firm of the Year 2005 (Legal Week Awards) and financial services sectors. The principal emphasis of PPM, • Law Firm of the Year 2004 and 2005 (EVCA/Real Deals however, is backing highly skilled management teams and to Private Equity Awards) provide the resources to build investments where there is the "If making new friends and seeing old ones is opportunity to add real value. During the past decade PPM has T +44 (0)20 7111 2222 important to you, you won't find a more target-rich invested approximately €2.5 billion in a wide range of www.sjberwin.com. businesses. PPM has recently participated in the following SJ Berwin LLP or an affiliated undertaking has an office in Berlin, environment than SuperInvestor" mid-market transactions: the realisation of Astron Group, , London, Madrid, Milan, Munich, Paris and Turin. Barracuda Group, Finnish Chemicals, Norbain and Orefi and the Paul Denning, CEO, DENNING & COMPANY acquisition of Histoire d’Or, Jost Group and BST Safety Textiles. For further information go to www.ppmcapital.com

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