Conference programme - Wednesday 21 April 2010
Managing risk to ensure success in a changing marketplace
08.30 Registration
09.00 Opening remarks from the conference co-chairs
Barry Lawson, managing partner, The Private Equity Consultancy
Claire Wilkinson, general counsel, MVision
09.10 Unquote” private equity market review 2010
In such a volatile investment market it is essential to understand the trends of
the past 12 months before we can foresee what the future holds. This session
will explore the underlying figures and trends that have shaped the current
private equity and hedge fund market while using the very latest research to
provide an outlook for 2010.
Emanuel Eftimiu, head of research, Unquote”
09.25 Keynote: A new era of regulation
The European private equity and venture capital industry is facing the most
radical and comprehensive regulatory review in its history, impacting
stakeholders from LPs down to portfolio companies. The European Parliament and
Council may now be on the last leg of negotiating the big picture decision on
the Alternative Investment Fund Managers' Directive. Javier Echarri examines the
political scene, legislative process and what it means for private
equity.
Javier Echarri, CEO, EVCA
09.55 Expert panel: Fund structuring in 2010 – 10 assertions to help
you plan for the year ahead
In the alternative investments market fund structuring is one of the most
significant challenges to face the sector looking forward to 2010 and beyond.
Drawing on the broad expertise of this panel a number of assertions will be put
forward as to the likely shape of tomorrow’s funding environment. The discussion
will then be opened up to the delegation for a series of roundtable discussions.
Chair: Claire Wilkinson, general counsel, MVision
Robert Barry, partner, Proskauer Rose
Amyn Hassanally, senior investment and fundraising counsel,
Coller Capital
Stephan Grillmaier, partner, MVision
Patrick de van der Schueren, chief legal officer, AlpInvest
10.55 Morning break
11.15 Interactive focus groups
A) Regulation and compliance – assessing the consequences of a new
tough line on the private equity and hedge fund business With plans for
a new regulatory and compliance system building momentum, it is essential that
the practical implications are considered for both private equity and venture
capital businesses. This panel will offer an in-depth perspective on the likely
shape of new regulation including an update on the proposed AIFM Directive.
Margaret Chamberlain, partner, financial services & markets
group, Travers Smith
Javier Echarri, CEO, EVCA
Christopher Johnson-Gilbert, partner, Conyers Dill &
Pearman
Marta Jankovic, legal counsel, SVG Advisers
B) Identifying the key success factors for an effective fund
administrator/GC relationship
The relationship between in-house counsel and fund administrators has never been
more important. In response to investors’ increasing demands for transparency
and asset safety it is essential for the fund administrator to play a more
active role in post-trade activities.
Justin Partington, commercial director, IPES (UK) Limited
Judith O’Shea, legal counsel, Aureos Advisers
Claire Wilkinson, general counsel, MVision
Seda Yalçinkaya, legal head, Citi Venture Capital International
C) Assessing the constraints of attracting Gulf investment and potential impacts
on the private equity model
Despite the economic difficulties in Dubai, the Gulf region remains one of the
big sources of money for European private equity houses. This relationship will
only become more important as time goes by – particularly if the United States
retaliates against the AIFM with non-US fund manager regulation. What are the
key factors to consider regarding emerging religious ethics in the Gulf and
their interplay with investment? What role does the Council of Scholars play in
a fund? How do you structure a deal that pays an 8% interest hurdle without it
being called interest?
Barry Lawson, managing partner, The Private Equity Consultancy
Thomas Gierath, partner, Dechert
12.15 Interactive focus groups
A) Understanding the tax basics
Taxation can be a material cost and can therefore impact future commercial
returns. Furthermore, tax systems in the UK and Europe are continuing to evolve,
which means that change needs to be monitored. Join fellow peers and tax experts
as they explore the basic tax factors that will impact your role as in-house
counsel over the next 12 months.
Richard Ward, partner, Debevoise & Plimpton
Matt Saronson, partner, Debevoise & Plimpton
Christine Chen, legal director, Cinven
B) Exploring the latest M&A trends and their impact on private equity and
venture capital markets
Contrary to some press reports M&A is alive and well, however, the
way in which such investments are managed is open for discussion. Join this
expert focus group as they identify the key considerations relating to valuation
trends, debt to equity ratios, minority investments and joint ventures.
Hedley Goldberg, managing director, Rothschild
John Heard, general counsel, Abingworth
Charles Martin, senior partner, Macfarlanes
13.15 Lunch
14.15 Capitalising on the opportunities of cleantech investments
post-Copenhagen Summit
The cleantech private equity market has grown substantially in recent years, and
there are currently over 380 active firms which are focusing on the sector. The
potential for further growth is significant, with a total of 78 funds focusing
exclusively on cleantech investments currently in market-seeking investors.
Simon Robert-Tissot, general counsel, Climate Change Capital
14.45 Is your portfolio ready to meet future carbon reduction
obligations?
Combined with the investment opportunities is the commitment for larger
companies to abide by the forthcoming Carbon Reduction Commitment. It will
increasingly fall to the legal department to ensure compliance is achieved. Gain
valuable insight into the challenges and opportunities of being carbon compliant
and get to grips with the newly-defined asset of carbon.
Alison Hampton, general counsel, HG Capital
Louise Moore, partner, Herbert Smith
15.15 Afternoon coffee
15.30 Panel debate: Hard employment law – ensuring compliance across
your portfolio?
Like it or not the current restructuring happening in most companies has
heightened the focus with private equity firms to strengthen their strategy on
employment law. This plenary presentation will provide you with the key
employment issues of which general counsel need to be aware.
Nicola Kerr, partner, SJ Berwin
Sean Jones, barrister, 11KBW
Abrielle Rosenthal, senior principal and associate general
counsel, TowerBrook
Sue Woodman, partnership counsel, Alchemy
16.15 Economic keynote: Assessing the economic state of play driving
tomorrow’s corporate investment markets
The economic turbulence has plagued the private equity market in 2009
that will continue to resonate throughout 2010; however, with many unique
factors at play it is essential to investigate the cumulative effect on your
investment activities. Join one of the foremost economic commentators as he
provides forward-looking
analysis on the state of private equity and venture capital in relation to the
wider economic market.
Roger Nightingale, global economist, Pointon York
16.45 Closing remarks
16.55 Close of conference
To reserve your place at the Private Equity Forum 2010, call Moira McCarthy on +44 (0)20 7004 7436 or email legalweekconference@incisivemedia.com
