Preliminary programme

Welcome Cocktail reception

Registration and refreshments

Opening keynote address

Senator The Hon Nick Sherry, Assistant Treasurer, Commonwealth of Australia provides a Government perspective for the delegates.

09:30

The new paradigm for Australian and global private equity

Although complete recovery is not yet visible in the global economy, its dawning can be seen in Australia. Lower leverage and tighter financing are freezing private equity activities; meanwhile the credit market is constricted and fund raising is a challenge. In these conditions fund managers have been extending the holding periods of their portfolio companies, waiting out the market for better exits. Increased strategic rigor on acquisitions and focus on improvements in ongoing operations have become the watchwords for GPs looking to avoid the expected shake out, which the industry faces in the short-to-mid term.

• How do GPs see Australia versus the world markets? What are their plans in an unstable environment?
• What are the alternatives to bank leverage and how credible and necessary are they?
• What is the breakthrough in 2010 for the private equity industry?

Moderator
Philip Bilden, Managing Director, HARBOURVEST PARTNERS (ASIA) LIMITED

Panelists
Peter Wiggs, Managing Partner, ARCHER CAPITAL
David Jones, Managing Director, CHAMP PRIVATE EQUITY
Julian Knights, Managing Partner, IRONBRIDGE
Justin Reizes, Partner, KKR AUSTRALIA
Simon Pillar, Managing Director, PACIFIC EQUITY PARTNERS

Plenary address: The secondaries market – All talk and no action?

Jonathon Freeman, Partner, COLLER CAPITAL

A new era for US and European private equity

The financial turmoil of the last two years has cut liquidity in the PE world to a trickle, as fundraising and deal activity remain low. American and European GPs have been trying to shore up their returns and credibility by going ‘back to basics’ with their portfolio companies; however, many corporates in these regions have been forced into bankruptcy by their debt burdens. Regulatory pressure on GPs in the US, the EU and even Australia is rising. Meanwhile, healthy and moderately valued assets look attractive to global buyers, especially with a weak US dollar. Experienced US and European fund managers discuss their current focus and market sentiment.

• The lessons learned in 2009: how will these affect Australian and Asian GPs?
• A breakthrough in 2010 / 2011?
• Are credit driven strategies an attractive option for investors and which are expected to outperform?
• What are the opportunities for Australian LPs outside of Asia and the best strategies to stay in the game?

Moderator
Dan Schwartz, Chairman Emeritus, AVCJ GROUP

Panelists
Howard D. Morgan, Sr. Managing Director, CASTLE HARLAN, INC
Stephan Grillmaier, Partner,MVISION PRIVATE EQUITY ADVISERS
Bela Szigethy, Co-CEO, THE RIVERSIDE COMPANY
Anthony J. de Nicola, Co-President, WELSH, CARSON, ANDERSON & STOWE

Deal dynamics and value creation

In a period of weak economic growth, the slowing market forces private equity managers to drive value creation. Senior investors with good reputations and the right motivation are vital in order to compete with trade buyers for deals. Price is not the only reason for investments falling over: GPs need a proven ability to manage a slowdown and position themselves to advantage when the market returns, as well as being able to find the best exit strategies.

• What are the key features of this new deal environment?
• What can PE fund managers do to position themselves and their portfolio companies to succeed?
• How can Australian GPs create value in the current environment?
• What are the central planks of a successful exit strategy?
• Will the Myers deal open the pipeline for IPO exits?

Moderator
Andrew Thompson, Nation Head of Private Equity, KPMG

Panelists
Scott Greck, Partner, ARCHER CAPTIAL
Tim Martin, Partner, CRESCENT CAPITAL PARTNERS
Simon Moore, Managing Director, THE CARLYLE GROUP

12:50

Lunch
Keynote address by His Excellency Jeffrey L. Bleich, Ambassador to Australia, Embassy of the United States

The Australian buyout market in 2010 onwards

Last year the Australian private equity market was quiet, with no avalanche of cheap acquisitions and deal volumes down sharply. Fund managers have been able to exploit overleveraged public companies for better opportunities in the mid-market, but deal sourcing remains a challenge. With the gradual loosening of credit markets, the IPO exit window swinging open, and LPs back in the market, the Australian private equity looks more positive than for many quarters. Senior practitioners discuss:

• With Australia's macro prospects looking good, can the big buyouts return? Or will the middle market continue to have an advantage?
• Creative deal sourcing and challenges in a recovering market
• LP perspectives on returning to the local market vs. investments abroad
• What sectors are likely to present opportunities for investors?

Moderator
David Wenger, Partner, ALLENS ARTHUR ROBINSON

Speaker

Simon Dighton, Managing Director, CATALYST INVESTMENT MANAGERS
Joshua McKean, Director, IRONBRIDGE
Rob Nichols, Managing Director, TASMAN CAPITAL

Special address: US Middle Market Mezzanine

Jeffrey Hawkins, Managing Director & COO, SANKATY ADVISORS

The credit market and alternative financing strategies

Australian banks have been the main source of lending for the country’s businesses; however their lending appetite has decreased substantially over the past year—partly due to changes in capital adequacy ratios under Basel II. GPs now have to look harder for trade finance to keep their businesses running.

• How can fund managers help their portfolio companies to build banking relationships?
• What operational or structural tools and processes can help to allay bankers’ fears?
• Can capital structure help to overcome credit constraints?
• Mezzanine and secondary financing

Moderator
Joseph W Ferrigno III, Managing Partner, ASIA MEZZANINE CAPITAL GROUP

Panelists
Michael Johnston, Managing Director, Acquisition Finance, BOS INTERNATIONAL
Theodore (Ted) Dow, Managing Director, DIF CAPITAL PARTNERS
Gary Stead, Managing Director & Co-Founder, SHEARWATER CAPITAL GROUP
Michael Tierney, Managing Director, Head of Leveraged Finance, Asia Pacific, CREDIT SUISSE

Distressed and turnaround investment in Australia

The loose credit environment of the last few years and a challenging economic environment has resulted in many Australian business running afoul of their creditors, creating opportunities for managers with know how and experience in restructuring and turnarounds. Australian banks meanwhile seem unwilling to sell.

• Why the reluctance? What tactics can GPs use to get involved?
• How does distressed investing and turnaround differ from regular PE? What does it take to bridge the gap?
• Debt investment returns versus traditional private equity returns
• Will distressed investing and turnaround become an emerging trend for Australia?

Moderator
Chester Moynihan, Managing Director, ALLEGRO PRIVATE EQUITY

Panelists
Andrew Boxall, Partner, ALLENS ARTHUR ROBINSON
Ian Johnson, Managing Director, HELMSMAN FUNDS MANAGEMENT LTD
Anne Moal, Director, Strategic Investment Group, Deutsche Bank
Shaw Ng, Associate Director, Macquarie Funds Group's Funds of Private Equity Funds

Gala dinner

Keynote presentation: Some time with Nick Farr-Jones and David Kirk

Peter FitzSimons, famous Australian author, talks with 2 World Champion greats of the Antipodean Rugby scene, Nick Farr-Jones and David Kirk, now successful businessmen, about their observations on competition and success in the Funds Management Industry in 2010.

Investor Insights: an interview with veteran fund managers Tim Sims and Joe Skrzynski

Industry veterans Tim Sims and Joe Skrzynski share their views on the future of private equity in Australia and what it takes to drive returns in today’s environment.

Interviewer
Les Fallick, Founder & Managing Director, PRINCIPLE ADVISORY SERVICES

Panelists
Joseph Skrzynski, Founding Partner, CHAMP PRIVATE EQUITY
Tim Sims, Managing Director, PACIFIC EQUITY PARTNERS

Plenary address: Update on Australian tax issues facing the industry

Katherine Woodthorpe, Chief Executive, AVCAL

Around the region

Leading regional GPs provide an update on major issues affecting private equity in Asia today.

• Regulations constraints and changes affecting PE in Asia
• What deal styles are most attractive in the current environment?
• Which of Asia’s market will be the first to emerge
• The impact of government intervention to portfolio companies and fund managers’ operations

Moderator
Thomas Smith, Managing Director, LOMBARD INVESTMENTS INC

Panelists
Yibing Wu, President, CITIC PRIVATE EQUITY FUND
Cameron Hillyer, CFO, CLEARWATER CAPITAL
Benjamin Jenkins, Sr. Managing Director & Co-Head of Asian Corporate Private Equity, THE BLACKSTONE GROUP
Edward Sippel, Managing Principal, QUADRANGLE GROUP ASIA

12:00

Special presentation on the ILPA Private Equity Principles

Speaker
Kathy Jeramaz-Larson, Executive Director, INSTITUTIONAL LIMITED PARTNERS ASSOCIATION

Institutional investing: A seismic change in overseas and domestic limited partners’ perspectives

With a year of financial flat line under their belts, limited partners have seen a dip in expected returns. In some quarters this has led to a resetting of their relationships with private equity fund managers: LPs are now much more cautious on investments and much more focused on track records and the current performance of GPs in their stable. A natural wastage of private equity managers is expected in coming years. Who will be the lucky survivors from the current crop of PE fund managers?

• Is there a “new investment paradigm” emerging?
• Could multi-disciplinary, one-stop alternative shops help ease return fluctuations?
• How have LP investment strategies changed over the past year?
• Can the status quo in fund terms persist? What changes are hoped for or expected?

Moderator
David Brown, Head of Private Markets, VFMC

Panelists
James Leos, Investment Director, INDUSTRY FUNDS MANAGEMENT
Stewart Hay, Partner, SL CAPITAL PARTNERS LLP
Greg Fernance, Head of Investment and Capital Management, UNIVERSITY OF SYDNEY