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KN2217Sinvestor cov09:SuperInvestor 08 9/10/09 14:36 Page 1 Brand New – Access to all delegates ahead of the event, see p4 for details 9TH ANNUAL Free For HEAD TO HEAD with LEADING LP David Turner Pension Funds, Managing Director & EndowmentsFoundations And Head of Private Equity Save THE GUARDIAN LIFE INSURANCE (subject to verification) COMPANY OF AMERICA £500 is questioned by - Book By Josh Lerner Jacob H Schiff Professor of 25 Sept 09 Investment Banking Europe’s Foremost HARVARD BUSINESS SCHOOL Private Equity, Venture Capital & LP/GP Relationship Summit Securing Funding & Maintaining Robust And Loyal LP/GP Relations In A Transforming Private Equity Market Hear from + LPs, including: Glean Insight From 180+ Plus Wisdom From These 70 Brilliant Minds • Abbott Capital • Mercer Industry Leaders, Including: Management • Metlife Investments • Adams Capital • MN Services THE CREDIT Partners • Morgan Stanley MARKET GURU • Adams Street Private Equity Partners • Northwestern Mutual • Adveq • ATP Private Equity Derek Murphy Maarten Vervoort George Siguler Ed Altman • AIG Investments Partners Partner Managing Director & First Vice President Max L Heine Professor of Finance • Allianz • IFC Head of Private Equity ALPINVEST Founding Principal NYU STERN SCHOOL OF BUSINESS • Alpinvest Partners • TIAA-CREF PSP INVESTMENTS PARTNERS SIGULER GUFF • Altius Associates • Clearsight • Caisse de Dépôts et Investments Placement de • Jefferies Helix LEADING PRIVATE Québec • Jefferies Capital EQUITY ACADEMIC • Caisse des Dépôts et Partners Consignations • MML Capital Partner • Cambridge • OMERS Hanneke Smits Jon Moulton Jonny Maxwell Associates • Pantheon Ventures Chief Investment Officer Former Managing Global Head Private Equity Josh Lerner • Parish Capital ADAMS STREET Partner, Fund of Funds Jacob H Schiff Professor of Investment • Capital Dynamics PARTNERS ALCHEMY ALLIANZ PRIVATE Banking • Capvent • PCGI PARTNERS EQUITY PARTNERS HARVARD BUSINESS SCHOOL • Century Capital • PSP Investments Management • Quilvest • CPPIB • RHO Fund Investors RENOWNED • Credit Suisse Asset • SCM Strategic GLOBAL ECONOMY Management Capital Management SPECIALIST • F&C Asset • Scottish Widows Investment Chris Masterson David Roux Guy Hands Management Chief Executive Co-Founder & Chairman, Chief • FERI Institutional Partnership MONTAGU PRIVATE Co-Chief Executive Investment Officer & Stephen Pope • Siguler Guff EQUITY SILVER LAKE Founder Chief Global Market Strategist Advisors TERRA FIRMA CANTOR FITZGERALD • Fleischhauer, Hoyer • SL Capital Partners & Partner • Squadron Capital • Gartmore Private Advisors Equity • SVB Capital • Teachers Private AWARD-WINNING • GE Asset ENTREPRENEUR Management Capital • The Guardian Life • Goldman Sachs Jeremy Coller Charles Baillie John Singer Assurance Company CEO Global Co-Head Alternative Chairman • Guggenheim Capital ADVENT INTERNATIONAL of America COLLER CAPITAL Investments & Manager Nick Basing, Former CEO Management Selection EUROPE PARAMOUNT RESTAURANTS • The Wellcome Trust GOLDMAN SACHS • HarbourVest Partners • Unigestion • Horsley Bridge • Wilshire Associates • Jade Invest • TD Capital Private Don’t miss the brand new • JP Morgan Asset Equity Investors Secondaries Summit Management • Hermes Private • Keyhaven Capital Equity on 17 November 2009 Partners Kurt Björklund Hans Albrecht Ivan Vercoutere • Access Capital Co-Managing Senior Partner Partner Sponsored by • LGT Capital Partners Partners Partner NORWIND CAPITAL LGT CAPITAL PERMIRA PARTNERS ICBI Principal European Law Firm Sponsor: Co-Sponsors: Secondaries Summit: 17 November 2009 Main Conference: 18-20 November 2009 Elemental Chlorine Free Westin Hotel, Paris (ECF) Tel: +44 207 017 7200 Paper sourced Fax: +44 207 017 7807 from sustainable forests www.icbi-superinvestor.com KN Sinvestor b09:SuperInvestor 08 6/10/09 10:55 Page 3 Sponsored by Sponsored by NEW! Tuesday 17th November 2009 Secondaries Summit 09:00 Coffee & Registration 11:30 Morning Coffee Moderator: Brenlen Jinkens, Managing Director, COGENT PARTNERS 11:50 Prior to co-founding Cogent Partners, Mr. Jinkens was an executive director of Lehman 09:30 Brothers Europe, where he covered financial services technology businesses in the UK, Mid-market Secondaries: Are These Attractive Germany and Scandinavia. Mr. Jinkens also started an online financial services business, Opening Remarks From The Chair Opportunities? What Are The Pitfalls? and worked for five years in the financial services practice of McKinsey & Company in Paris Nigel Dawn, Managing Director, • How to identify quality secondaries? and London. He has over 15 years of experience advising financial services companies. Global Co-Head Private Funds Group, New York • What to avoid and still close deals? Mark Burch, Managing Partner, ARCIS CAPITAL UBS INVESTMENT BANK • How to deal with GPs who are unlikely to raise another fund? Founded in 1993 ARCIS Group advises €600 million of funds invested exclusively in private Nigel established the Secondary Market Advisory team in 2004 and has advised on • What is more attractive: Highly funded or highly unfunded fund equity secondaries. Prior to working with ARCIS, Mark was at ING Barings first in over $15 billion of secondary transactions. He joined the firm in 1997 within the fixed Investment Banking, where between 1998 and 1999 he was Head of the European income area before taking responsibility for making direct equity investments to positions? Corporate Finance Group, and then subsequently as Head of a newly established Private support the strategic aims of UBS Investment Bank business areas as part of the e- Marleen Groen, Principal Founder & CEO, GREENPARK CAPITAL Equity Group until 2001. He first joined Barings in 1988 from Kleinwort Benson where he commerce function. Most recently, he was head of UBS Investment Bank’s Third-Party Greenpark Capital Limited is a global private equity secondaries investment adviser was a corporate financier from 1983 onwards. Private Equity Funds Team. Prior to joining UBS, Nigel worked in the Financial Services based in London. Marleen has extensive global private equity secondaries experience Practice at Booz, Allen & Hamilton in New York. having spent the last thirteen years investing in this market. Prior to this Marleen Laura Shen Lefranc, Partner spent ten years in senior corporate finance positions at leading European banks. HEADWAY CAPITAL PARTNERS Laura Shen Lefranc is a partner and co-founder of Headway Capital Partners, a London STATE OF THE UNION ADDRESS 12:10 based private equity secondaries firm with advised funds of over €200 million. Prior to 09:40 co-founding Headway in early 2004, Laura and her two partners were part of the Venture Secondaries: What Is The Outlook For This investment team at secondaries firm Coller Capital. Prior to that, Laura was part of the A Review Of The Private Equity Secondaries Market Sub-Sector Given The Even Riskier Profile? leveraged buyout investment team at Bain Capital in Boston. Mark O’Hare, Managing Director, PREQIN • The impact of an even longer hold period In 2002 Mark founded Private Equity Intelligence (Preqin), the alternative assets Elly Livingstone, Partner, PANTHEON VENTURES information service which provides extensive research, data and consultancy services on • Why buy venture secondaries if huge amounts of more mature Elly leads Pantheon’s global secondary investment funds. He chairs the Global private equity, private real estate, infrastructure and hedge funds. Preqin is an independent secondaries are available? Secondary Investment Committee and is a member of the firm’s International business with 50 staff serving over 2,500 customers in 72 countries. In 1993 he founded • LP positions or portfolios of direct? Investment Committee and the European Investment Committee. He joined Pantheon in Citywatch, the UK’s shareholder information service, which was acquired by Reuters in 2001. Prior to joining Pantheon, Elly was an investment manager focusing on structuring 1998, and now provides a global service on the ownership of listed equities. • How to assess the right price given the risk profile in this and execution of direct investments at Actis Capital, an emerging markets private equity economic climate? fund, having worked previously for Accenture and PricewaterhouseCoopers. 10:00 • US only? Or take chances on Europe? • What to do if the GP will not raise another fund? Troy Duncan, Managing Director The Golden Age Of Secondaries Or The Great Myth? Gordon Hargraves, Partner, RHO FUND INVESTORS JP MORGAN ASSET MANAGEMENT A Discussion On The Current Dynamics Of The Gordon Hargraves has been actively investing private equity since 1993. He is a Prior to joining J.P. Morgan Asset Management, Mr. Duncan was Senior Managing Secondaries Market Partner with Rho Fund Investors ("RFI") and has overall responsibility for its activities. Director of Bear Stearns Asset Management Inc. He has been on J.P. Morgan Private RFI is the division of Rho Capital Partners that commits to venture capital and other Equity Limited’s investment committee since its inception on 30 June 2005. Prior to • Who is considering selling? Which categories of sellers have specialized private equity funds whose strategies afford unique advantages, such as joining BSAM Inc., Mr. Duncan was a Senior Vice President of BDC Financial Inc., a executed transactions to date and who is still to come to the domain expertise, operational expertise or focus on a particularly attractive sector. firm that provided customised investment management and advisory services