Capital Creation 2017

September 13-September 15, 2017

Le Meridien Beach Plaza, Monte Carlo

44 (0) 207 368 9854

Day 2

08:00 AM - 08:45 AM Registration and welcome coffee

08:45 AM - 08:50 AM Welcome remarks from the Chairperson

The Future of European Fundraising & Investments

08:50 AM - 09:20 AM KEYNOTE INTERVIEW: In the spotlight- how macroeconomic influences in private markets are impacting your investment opportunities

Dr. Olaf Neubert, Managing Director, TopCap Partners , , Philip Rattle, Managing Partner, August Equity Frank Ahimaz, MD and CIO, Museum of Modern Art (MoMA) Endownment
  • How is Brexit impacting private markets and the behavior of investors and managers?

  • How will Brexit, US politics and other European market changes impact investment opportunities, portfolio construction and the exit market?

  • How will changes to passporting impact fundraising opportunities and volumes?

  • How will changes to interest rates impact fund performance and how will fund managers really add value in the future?


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Dr. Olaf Neubert

Managing Director
TopCap Partners
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Philip Rattle

Managing Partner
August Equity
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Frank Ahimaz

MD and CIO
Museum of Modern Art (MoMA) Endownment

09:20 AM - 09:55 AM ALL STAR PANEL: Identifying new allocation strategies to add long-term value in portfolio construction, influence assets and take control of investments

Theodore Economou, CIO, Lombard Odier Investment Managers David Jeffrey, Partner, StepStone Group Francois Jerphagnon, Head, Ardian Expansion Paris
  • How are fewer managers and bigger cheques impacting portfolio construction?

  • The rise of direct investments: Where is this drive coming from and how are fund managers dealing with investors looking to go direct?

  • What are the new strategies for building a portfolio with attractive risk/return?

  • How are credit/private debt allocations changing and impacting portfolio diversification and what types of credit are investors looking at?


Theodore Economou

CIO
Lombard Odier Investment Managers
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David Jeffrey

Partner
StepStone Group
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Francois Jerphagnon

Head
Ardian Expansion Paris

09:55 AM - 10:15 AM INTERVIEW: The economics of the LP/GP relationship – what new partnership strategies achieve alpha in a successful and cost-effective manner?

Matthew Judd, Partner, Ropes & Gray Yalin Karadogen, Partner, Cinven , ,
  • Evaluating the changes and demands in carrier fees

  • Evaluating the developments in insourcing and going direct to address fee burden

  • How have the number of relationships changed and where do these relationships lie?

  • Trends in GPs securing capital and commanding better terms in fundraising

  • Trends in LPs gaining power and commanding more attractive deal terms


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Yalin Karadogen

Partner
Cinven
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Matthew Judd

Partner
Ropes & Gray

10:15 AM - 10:50 AM Afternoon coffee and networking

  • How can technology drive improved monitoring and due diligence given the growing volume of data now collected?

  • What are the advantages of improved client reporting, smarter analysis of portfolios and faster, more consistent data communication?

  • Practical insight on how technology can help scale business and aid fundraising

  • How to build infrastructure for both small and mi-sized investors and managers that can leverage these new systems – what are the key considerations?


10:50 AM - 11:20 AM INTERVIEW: Technology disruption – how to leverage improved monitoring and due diligence reporting to drive scale in your business

Sanay Tolani, Head of Private Equity, EMEA, FIS Global Amanda Tonsgaard, Head of Investor Services, Triton Partners
  • How can technology drive improved monitoring and due diligence given the growing volume of data now collected?

  • What are the advantages of improved client reporting, smarter analysis of portfolios and faster, more consistent data communication?

  • Practical insight on how technology can help scale business and aid fundraising

  • How to build infrastructure for both small and mi-sized investors and managers that can leverage these new systems – what are the key considerations?


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Sanay Tolani

Head of Private Equity, EMEA
FIS Global
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Amanda Tonsgaard

Head of Investor Services
Triton Partners

11:20 AM - 11:50 AM ALL STAR PANEL: What is the future for capital call facilities and bridge financing and to what level is it sustainable in the current market?

Matthieu Ducharme, Director, Private Equity, Northleaf Capital Partners Samantha Hutchinson, Partner, Dentons Benjamin Arm, Managing Partner of Buyout and Growth Capital, Omnes Capital
  • What are the current leverage mechanisms that are being used by PE managers, who are they being offered to and what are their pros and cons?

  • To what extent should leverage like this be used?

  • With most PE firms using capital call facilities, what’s the market’s capacity?

  • What are LP attitudes to bridge capital and how are investors managing the risk to their own clients?

  • How detrimental is it to the future of private equity and what is being done to manage this?


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Matthieu Ducharme

Director, Private Equity
Northleaf Capital Partners
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Samantha Hutchinson

Partner
Dentons
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Benjamin Arm

Managing Partner of Buyout and Growth Capital
Omnes Capital

11:50 AM - 12:50 PM NETWORKING ROUNDTABLES: Dissecting the value of new fund structures and how they are changing investor attitudes towards PE managers

These sessions are small group working sessions, limited to 12 participants, allowing for a detailed discussion about a business critical topic

TABLE 1: Permanent capital vehicles - Bernard de Backer, former Senior Portfolio Manager, ADIA Private Equity, ‎ADIA

TABLE 2: Evergreen funds - Jean-Francois Le Ruyet, Partner, Quilvest Private Equity

TABLE 3: GP-led restructuring - Benoit-Olivier Boureau, Managing Director, Rothschild Merchant Banking

TABLE 4: The future of the FoF model - Paul Newsome, Executive Director, Head of Private Equity Investments, Unigestion

TABLE 5: Separate managed accounts


Small Group Breakouts

10:50 AM - 11:50 AM SYNERGY WORKSHOP: The evolving fund management landscape post Brexit – how to best prepare

Philip Bolton, Executive Director, Ocorian
  • How is the regulatory uncertainty created by Brexit impacting the future of alternative fund management?

  • What are the fund structures that are expected post Brexit and what will be the new reasons that will decide your choice of jurisdiction?

  • What will be the impact on the LP and GP relationship and how can your administrator help you best prepare for this? -What are the different geo challenges that can be expected across Europe?

  • What are the opportunities for GPs - how can this get you ahead of your competitors?


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Philip Bolton

Executive Director
Ocorian

Small Group Breakouts

11:50 AM - 12:50 PM SYNERGY WORKSHOP: Fund financing – what are the current available credit lines for funds and how is an increasingly complex regulatory framework creating new opportunities?

Adam Heaysman, Director, Funds Finance, Raiffeisen Bank International
  • What are the advantages and disadvantages of fund financing?

  • What are the various fund financing options?

  • What is the right balance of funding that managers should be accepting?

  • How do capital calls work in the secondaries market?

  • What are the attitudes towards fund financing in the SME market?


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Adam Heaysman

Director, Funds Finance
Raiffeisen Bank International

12:50 PM - 1:50 PM Lunch

  • What types of managers are performing in the current market?

  • What are the separate managed account requirements and customisation levels when sourcing a GP?

  • How has consideration of pricing changed and influenced investor decisions?

  • The rise of ‘’fundless sponsors’’- what value do they bring in an increasingly competitive GP market?

  • What are investor attitudes to GP diversification and the increased range of products/services offered out of the GP’s traditional range of products?

  • How have attitude towards the management team evolved, and what is now required?


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Francois Aguerre

Partner
Coller Capital
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Bernard de Backer

former Senior Portfolio Manager, ADIA Private Equity,
ADIA
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Svetoslav Stefanov

Investment Director
3TS Partners
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Jean-Luc Allavena

former Partner, Apollo Management and Chairman
Atlanty Investors

Finding Tomorrow's Manager

2:20 PM - 2:55 PM ALL STAR PANEL: The rise of first time funds and first time managers - navigating the emerging manager environment and how to choose the best manager for you

Vince O'Brien, Chairman, Impax Investment Hans van Swaay, Partner, Lyrique Private Equity Christopher Good, Partner, Investment Management Group, Macfarlanes Louis Trincano, Managing Partner, Cornerstone Fund Placement Thierry Wolff, Principal, EIF
  • How do ‘’spin outs’’ fit into investment strategies when large amounts of capital need to be deployed?

  • What are the selection criteria when assessing new managers and what are the main differences compared to more established GP selection?

  • What are the practical considerations when managing due diligence with a team with reduced/ no references and track record?

  • What do first time funds needs to demonstrate from an operational capability stand point?

  • What are the common reasons for managers/funds failing and how are the successful managers sustainable?


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Hans van Swaay

Partner
Lyrique Private Equity
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Vince O'Brien

Chairman
Impax Investment
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Christopher Good

Partner, Investment Management Group
Macfarlanes
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Louis Trincano

Managing Partner
Cornerstone Fund Placement
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Thierry Wolff

Principal
EIF

Finding Tomorrow's Manager

2:55 PM - 3:35 PM Afternoon coffee and networking

Finding Tomorrow's Manager

3:35 PM - 4:05 PM ALL STAR PANEL: Credit and private debt - how sustainable is this market and where will future investment opportunities come from?

Winson Ng, Head Private Market Investments (WM), UBS Wealth Management Gianluca Leotta, Partner, ELR Lex Liz Soutter, Partner-Funds Finance, Mayer Brown Stephane Legrand, Managing Director, European Capital Fund Management
  • New funds by established managers vs. credit specific managers- where are these funds being raised?

  • How is the market diversifying and how can investors access these funds?

  • What are the varying debt products on offer and how can you quantify them?

  • What about the risk return is attractive for investors in today’s market?

  • How will returns change in the next 2-3 years and how will this impact investor attitudes?


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Winson Ng

Head Private Market Investments (WM)
UBS Wealth Management
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Gianluca Leotta

Partner
ELR Lex
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Liz Soutter

Partner-Funds Finance
Mayer Brown
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Stephane Legrand

Managing Director
European Capital Fund Management

Finding Tomorrow's Manager

4:05 PM - 4:40 PM DISCUSSION PANEL: Evaluating the success of Venture in Europe- where are we now and what can we expect for the future?

Dr. Olaf Neubert, Managing Director, TopCap Partners Paul Newsome, Executive Director, Head of Private Equity Investments, Unigestion Rick Lewis, General Partner, US Venture Partners Max Bautin, Managing Partner, IQ Capital Partners
  • For: Distribution rates are poor and data is not strong enough to prove these investments are sustainable

  • For: Continued funding for late stage venture is hard to source making long term returns unlikely

  • Against: There has been huge success in venture investments influencing private equity investments and driving down operational costs

  • Against: Venture valuation in Europe are increasing, following Asian and US success Moderator: Dr. Olaf Neubert, Managing Director, TopCap Partners Against: tbc For: tbc


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Paul Newsome

Executive Director, Head of Private Equity Investments
Unigestion
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Dr. Olaf Neubert

Managing Director
TopCap Partners
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Rick Lewis

General Partner
US Venture Partners
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Max Bautin

Managing Partner
IQ Capital Partners

Small Group Breakouts

1:50 PM - 2:55 PM SYNERGY WORKSHOP: Accessing oversubscribed funds- how to position your organisation in the best way possible to achieve success (LP only)

Per Wimmer, CEO, Wimmer Family Office
  • What are GPs looking for in an investor? Key factors that making your organisation as investable as possible

  • Getting involved in transactions earlier on- what does this mean in practice?

  • What to do if you are not a preferred or previous investor?

  • Fund of funds vs institutional investors: What do GPs prefer?


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Per Wimmer

CEO
Wimmer Family Office

Small Group Breakouts

2:55 PM - 3:35 PM Women in Private Equity THINK TANK- connecting the next generation of women business leaders

With fewer than 10% of senior level positions in PE held by women, the future success of the industry requires a more diverse set of participants. This masterclass provides a platform for women to form relationships that will help dictate the development of the industry.

  • Make direct connections that lead to real business deals, benefitting you and your organisation
  • Extend your professional network amongst the next generation of leading women and investment professionals
  • Enhance your career by learning from, and being inspired by, some of Europe’s most successful and influential women leaders


With limited spaces, guarantee your space now by emailing Susie.benaim@wbr.co.uk


Small Group Breakouts

3:35 PM - 4:40 PM THINK TANK: How can European Family Offices build a Private Equity portfolio and what are they trying to achieve with this?

Andreas Lange, Partner, Argenthal Jean-Francois Le Ruyet, Partner, Quilvest Private Equity

This think tank is designed for 20 SFOs and MFOs to debate and discuss amongst peers, in a closed door, Chatham House format, their biggest business challenges and gain actionable takeaways.

  • Best practice on fund terms and due diligence
  • The rise of direct investments: Why are direct transactions becoming more popular and how are SFO/MFOs resourcing themselves?


Host 1: Andreas Lange, Partner, Argenthal
Host 2: tbc


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Andreas Lange

Partner
Argenthal
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Jean-Francois Le Ruyet

Partner
Quilvest Private Equity

4:40 PM - 5:10 PM CLOSING GUEST KEYNOTE: Who are the new Private Equity buyers and how can you stay ahead of the competition?

Ludovic Phalippou, Associate Professor of Finance, Saïd Business School,, University of Oxford

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Ludovic Phalippou

Associate Professor of Finance, Saïd Business School,
University of Oxford

5:10 PM - 5:15 PM Closing Chairman remarks



5:15 PM - 11:59 PM Drinks Reception and Gala Dinner