Venture Capital & Private Equity Forum - CEE 2011

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Orienting, structuring and successfully timing private equity deals in Central and Eastern Europe …

Orienting, structuring and successfully timing private equity deals in Central and Eastern Europe

Central and Eastern (emerging) Europe is starting to bounce back from the recession, with relatively strong economies and many, as yet, unlisted entrepreneurs. With reduced competition from the large buy-out private equity deal makers, the mid market is continuing to find opportunities in this environment.

Bain and Company estimates that the average returns on private equity investments in 2010 will run between 13 to 15 percent. And while this may look like a modest number compared to the boom years, such returns far outpace those from the risky public equity and low yield fixed income instruments – making private equity one of the most attractive parts of the capital markets at the moment.

Following on from the success of our emerging market private equity events in Asia and Latin America , Finance IQ invites the most active mid market deal-makers and their investors, advisors and bankers in central and eastern Europe today to attend the Private Equity and Venture Capital Outlook - Central and Eastern Europe 2011.

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  • 1. Presents Complime n Main Conference 22nd - 23rd March 2011 passes for tary first 10 co the rpo Post-conference Masterclass 23rd March 2011 attendees* rate ** Venue Radisson Blu Palais Hotel, Vienna BOOK NOW !Originating, structuring and successfully Meet the CEE mid market private equity experts ontiming private equity deals in Central the speaker faculty:and Eastern Europe Richard Seewald, Join the most active mid market private equity players in Investment Director, the region for two days where you will hear from the most Alpha Associates experienced investors on origination and financing strategies, key sectors and countries and the macroeconomic outlook for Brian Wardrop, the region to help you achieve maximum returns on your Co-Managing Partner, emerging market private equity allocation. Arx Equity Partners Christian Schopper, Attending the Venture Capital & Private Equity CEE Forum Chairman, will enable you to: Venture Capital CorpfinCE & Hear from investors like Mid Europe Partners, Resource Partners Aleksander Kacprzyk, Private Equity Forum and Alpha Associates on the challenges of investing in the region post the financial crisis and take advantage of the new opportunities that lie ahead in 2011 to maximise the performance Managing Partner, Resource Partners of your private equity allocation – Central & Eastern Europe Nikolaus Bethlen, Gain insights from CorpfinCE into the corporate outlook for the Director, region in terms of competitiveness, SME growth and the need Mid Europa Partners for alternative financing to better understand the fundamentals of this market Witold Radwanski, Managing Partner, Hear how Arx is using new strategies to build relationships with Krokus entrepreneurs to enable their succession deals so you can include these techniques in your existing origination strategies Pekka Santeri Mäki, Managing Partner, Gauge the potential of distressed debt opportunities in the region by hearing from foreign private equity investors like Serone 3TS Capital Partners Capital, CRG Capital and Boston Ventures who anticipate growth Parham Pouladdej, in this area in 2011 Managing Director, Improve the chances of growing your portfolio of companies CRG Capital by attending the workshop led by the former turnaround expert at Citibank and Dell, who will use examples to discuss working capital Jure Mikuz, strategies both in the due diligence and post deal scenario Managing Director, RSG Capital Igor Zax, Access complimentary industry reports, articles and exclusive interviews Managing Director, from the online resources library at www.PrivateEquityCEE.com TenzorPraise for Finance IQ’s annual Private Equity Southeast Asia Summit: Alessandra Pasian, Senior Banker, “The forum has been very valuable as it shows where investment opportunities are in Southeast Asia.” EBRD Investment Officer, Brunei Investment Agency +44 (0)20 7368 9300 or 0800 652 2363 www.PrivateEquityCEE.com enquire@iqpc.co.uk
  • 2. Dear Colleague, On behalf of Finance IQ, I am delighted to welcome you to the Venture Capital & Private Equity – Central & Eastern Europe 2011 Forum. Private equity, like the rest of the capital markets, has seen its share of irrational exuberance this decade with overpaying for buy-out firms and then loading them with too much debt. Yet the industry is ready to accept the new normal and move back to its roots of originating quality deals and using their expertise to turn them around. Investing in SME’s in the emerging markets is a big part of this flight to quality. Foreign direct investing in CEE through private equity is on the upturn. According to Deloitte’s Private Equity Confidence Index, 67 percent of respondents expect to see an increase in overall market activity during the next six months and 64 percent of respondents expect to buy more than they sell in the months to come, making strong deal-flows imminent. However deal origination is still a game of hit and miss. The Venture Capital & Private Equity - Central & Eastern Europe 2011 forum will cover some of the most relevant drivers of value creation, from quality of deal flow to a close look at economic macro drivers in the region. This conference will provide you with the ability to time debt and equity and position your investments strategically for maximum economic impact. With panel sessions, up to date case studies and an intensive workshop on best practice in managing working capital, this event is built to ensure you originate, structure and successfully time your private deals in Central and Eastern Europe I look forward to meeting you in Vienna next March! Anastasia Guha Event DirectorWho should attend the Breakdown of Private Equity Southeast Asia Summit attendees by sector:Venture Capital and PrivateEquity CEE Forum? Institutional investors Venture capital and strategic investment• Managing Partner, Partner Private equity• Investment Director Banks• Head of Equity Fund Investments External fund management• Fund Manager, Portfolio Manager Corporate managers• Head of Alternative Investments Law firms• Head of Investor Relations Corporate communications• Placement Agents Alternative fund services• Head of private equity practise ay law firms• Turnaround specialists Breakdown of Finance IQ Private Equity event• Accountants attendees by job function:• Stock-exchanges Institutional Sales• Investment bankers – Head of M&A, Head of Partner - Venture Capital structured finance, Head of mezzanine Partner - Law Firm Managing Partner - PE Pension Fund Manager Management Consultants/Partner Communications Director Head of Investor Relations +44 (0)20 7368 9300 or 0800 652 2363 www.PrivateEquityCEE.com enquire@iqpc.co.uk
  • 3. Conference Day One 22nd March 201108:30 Registration and Coffee An afternoon examining the region’s most active countries for deals and the opportunities they represent09:00 Chairman’s Opening Remarks: Igor Zax, Managing Director, Tenzor 13.15 Poland – A study in stability Much lauded as the only country to escape going09.05 Keynote – Why is Western Europe still required as into recession in the Eurozone but can the the stabilising force for economies in Central and consumption-led model continue? Eastern Europe? • Is the stable environment priced into 09.30 The Macro picture in 2011 – Restarting the deals already? growth engine? • Sectors to look into • Growth is expected in CEE in 2011 but it will be • Structural changes underlying the private uneven – is there a need to rebalance the region? equity market • Who will be the clear losers in 2011? • Zloty and its swings – is the currency a hindrance • How will the relationship between deleveraging to private equity deals and growth play out? Speakers: Witold Radwanski, Managing Partner, • How robust is the banking sector across the Krokus region? 13.45 Czech Republic, Slovakia, Slovenia • Is the human capital in CEE still in retreat? • What are the macro economic trends in • How are cross-border capital flows likely these countries at the moment – improved to be stimulated? domestic consumption, exports?10.15 Networking Coffee Break • What are the similarities in the fundamentals for this block of countries10.45 PANEL I: After the storm: the current • Detailing one top sector to target in each country opportunities for private equity in CEE and why 2011 is the best time to look for • What sort of overseas investor activity should the deals there region expect in 2011? • Which areas will see the most/least investment in 14.15 Hungary, Bulgaria, Romania the next 12 months? • How badly damaged are these economies after • Which CEE countries have been affected the the financial crisis? most significantly? • Is it still worth looking at deals here and under • When should the value investors move in? what conditions? • Is the political climate helping or hurting • Detailing one top sector to target in each country private equity? and why 2011 is the best time to look for • What do current market realities mean for the deals there ability to exit investments? 14.45 Networking coffee break Speakers: Richard Seewald, Investment Director, 15.15 Seeds of change - the venture capital Alpha Associates landscape in the region Aleksander Kacprzyk, Managing Partner, • Early stage or expansion: where are most of the Resource Partners deals being done? Nikolaus Bethlen, Director, Mid Europa Partners • Are technology and biotech still the big sectors to watch in this space?11.30 Corporate Outlook • Recent deals done • Has doing business in the region become more Speaker: Pekka Santeri Mäki, Managing Partner, difficult in the global slowdown? 3TS Capital Partners • Is the region still competitive enough? • Are SME’s becoming a vigorous part of the 16.00 Panel II: Distressed debt opportunities in CEE region’s economy or is investment largely driven • How true is the widespread belief that the by multinational FDI? sovereign debt crisis will eventually affect the • What strategies are the region’s companies banks in the region? implementing to maintain growth levels? • Banks need to dispose of non core assets, but is • Is there an adequate supply of capital? Are this likely? companies being forced to look for new sources • What deals are expected in this market in 2011 of finance after the crisis? Speakers: Giuseppe Mirante, Partner, Speakers: Christian Schopper, Chairman, Serone Capital CorpfinCE Parham Pouladdej, Managing Director, CRG Capital12.15 Luncheon Mark Saunders, Partner, Boston Ventures 16.45 Chairman’s Closing remarks 17.00 Networking Drinks Reception SPONSORSHIP OPPORTUNITIES – Three easy ways to get involved: 1) Thought Leadership: With an expected audience of senior Finance customers and decision makers from across the globe, Finance IQ events enable you to build your reputation as a market–leader in your chosen domain through speaking sessions and subject specific conference streams, workshops and focus days 2) Branding: We bring together buyers and suppliers in a tailored location with unbeatable facilities for on-site branding and exposure. Furthermore, our dedicated marketing team can help you achieve your promotional aims in the months leading up to the conference with dedicated mailings to cover 50,000 contacts through brochure drops, extensive e-mail campaigns and tailored web coverage 3) Featured Networking Events: Focused and high level, our events will provide you with the perfect environment to initiate new business relationships and achieve face-to-face contact that overcrowded tradeshows cannot deliver. Sponsorship opportunities range from exhibition stands to sponsored lunches, cocktail receptions, gala dinners and a host of informal social networking events For further details, or to discuss which option is best for your organisation, please call James Welch on +44 (0)207 368 9300 or e-mail sponsorship@iqpc.co.uk +44 (0)20 7368 9300 or 0800 652 2363 www.PrivateEquityCEE.com enquire@iqpc.co.uk
  • 4. Conference Day Two Post-conference Masterclass 23rd March 2011 14.30 – 16.3008:30 Registration and Coffee Working Capital Management: Lessons for09:00 Chairman’s Opening Remarks private equity investors in CEE09.05 Local currencies, global ambitions: Is joining The financial crisis highlighted once again the critical role the Euro on the cards for countries in CEE? working capital plays in a company’s performance. It is more crucial than ever to understand the dynamics of09.30 The great sell-off – Anatomy of succession working capital including its links with company strategy, related deals As founders of successful organisations hit operations, corporate structure and the supply chain. their 50’s in the region more deals are originating This highly interactive workshop is designed to help from them wanting to cash out through a private you take away the key tools you need to understand equity led management buy-out. What impact is best practices; vital at both the due diligence stage and this going to have on deal origination in this market? managing companies once acquired. Speaker: Brian Wardrop, Co-Managing Partner, Attending this workshop will enable you to: Arx Equity Partners • Better understand operational aspects of working capital10.20 Networking Coffee Break management and why results are often different from10.45 Acquisition financing for mid market players what you expect • Comparing the deal financing climate before and • Determine links between working capital, corporate after the financial crisis strategy and a regional, product and customer focus • Back to life, back to reality - buyouts • Design the supply chain and see why similar decisions and leverage (like production outsourcing to low cost locations) can • Private equity investors can bear higher risk lead to very different results compared to strategic investors – is this a competitive advantage? • Re-thinking the existing business model – how to reduce working capital needs?12.00 Originating the next super deals: • Bolt on acquisitions and vertical integration A sectoral analysis • Telecoms Facilitator • Healthcare Igor Zax, Managing Director, Tenzor • Food and Beverage • Energy • Infrastructure Bio: Igor Zax, founder and Managing Director12.45 PANEL III: Quitting while ahead – the region’s of Tenzor has combined experience in banking, best exits blue chip corporate and consulting. He has • Are secondary sales by strategic investors going worked in a wide range of financial instruments, to continue to be the most likely exit route? industries and functions. Zax has worked for • Assessing the role of secondary sales in Citibank, where he was instrumental in the the region? Emerging Market Strategy taskforce looking at Citibank’s • What is the best route to an IPO or a strategic positioning. He joined the Principal Finance partial listing? Speaker: Jure Mikuz, Managing Director, team in Daiwa. In 2000 he moved to Dell, where he RSG Capital was responsible for overall receivables financing across Europe, which led to a reduction in cost by 80 percent13.30 Chairman’s Closing remarks and a significant improvement in controls and business13.45 Luncheon alignment. Zax then moved to Eurohypo/Commerzbank, where he was part of the origination team. He has an14.30 Registration for Masterclass MSc in Physics from Novosibirsk State University and was a Sloan Fellowship MSc (with distinction) from London Business School. He holds a Chartered Financial Analyst (CFA) qualification. About finance IQ Free Resources Online Finance IQ provides news and strategic events across Europe, Asia, the US and the Middle Access our Online Resources Library at East every year, educating almost 5,000 high- www.PrivateEquityCEE.com level executives annually. Our comprehensive face-to-face and online events provide an for speaker interviews, videos, feature unbiased, specialist forum where you can articles, reports, white papers and more. discuss the issues most important to you. +44 (0)20 7368 9300 or 0800 652 2363 www.PrivateEquityCEE.com enquire@iqpc.co.uk
  • 5. 5 WAYS TO REGISTER Freephone: 0800 652 2363 or +44 (0)20 7368 9300 Main Conference 22nd - 23rd March 2011 Fax: +44 (0)20 7368 9301 Post-conference Masterclass 23rd March 2011 Venue Radisson Blu Palais Hotel, Vienna Post: your booking form to IQPC Ltd. 129 Wilton Road, Victoria, To speed registration, please provide the priority code located on the mailing label or in the box below. London SW1V 1JZ My registration code is PDFW Online: www.PrivateEquityCEE.com Please contact our database manager on +44(0) 207 368 9300 or at database@iqpc.co.uk quoting the registration code above to inform us of any changes or to remove your details. Email: enquire@iqpc.co.uk Venture Capital & Private Equity Forum – Central & Eastern Europe Team Discounts* IQPC recognises the value of learning in teams. Groups of 3 or Register & Pay before Register & Pay before Register & Pay before more booking at the same time from the same company receive a PACKAGES Standard Price 10% discount. 5 or more receive a 15% discount. 7 receive a 20% 17th December 2010* 28th January 2011* 25th February 2011* discount. Only one discount available per person. 6 Industry - Conference + SAVE €500 SAVE €400 SAVE €300 SAVE €100 Masterclass €1698 + VAT €1798 + VAT €1898 + VAT €2098 + VAT SAVE €400 SAVE €200 SAVE €100 Venue & Accommodation 6 Industry - Conference Only €1699 + VAT Venue: Radisson Blu Palais Hotel Vienna, Parkring 16, A-1010 €1299 + VAT €1499 + VAT €1599 + VAT Vienna, Austria – Tel: +43 (0)1 515 17 0, Fax: +43 (0)1 512 22 6 Masterclass Only €499 + VAT 16 E-mail: guest.vienna@radissonblu.com 6 Private Equity Investors** €599 + VAT including Masterclass Accommodation: Accommodation is not included in the registration fee. To book accommodation at the Radisson Blu Palais Hotel 6 Corporate Attendees*** Free for the first 10; €599 + VAT thereafter including Masterclass Vienna call Tel: +43 (0)1 515 17 0. Always quote GA1, or book online: http://www.radissonblu.com/palaishotel-vienna/ga1. * To qualify for discounts, payment must be received with booking by the registration deadline. Early booking discounts are not valid Prices from £149 + VAT room only. For a further selection of in conjunction with any other offer. Austrian VAT charged at 20%. Austrian VAT registration #: ATU 660 158 58. hotels nearby, please visit: www.4cityhotels.com/vienna.html ** Subject to qualification. *** Corporate attendees are defined as senior management of corporate firms in the central and eastern European region. Free Online Resources To acess a variety of articles, podcasts, videos and other free Delegate Details resources please visit www.PrivateEquityCEE.com Please photocopy for each additional delegate 6 Mr 6 Mrs 6 Miss 6 Ms 6 Dr 6 Other Digital Conference On CD-ROM First Name Family Name A digital version of the conference proceedings, including all Job Title presentations, is available to buy. Tel No. 6 I cannot attend the event, please send me the CD Rom priced at Email £599 plus VAT 6 Yes I would like to receive information about products and services via email Recent digital conferences available - £599 plus VAT each 6 European Investing in Distressed Debt Forum 2010 Organisation 6 7th annual Nordic Investors Forum 2010 Nature of business Address 6 Please send me conference materials indicated above. 6 I have filled out credit card details below Postcode Country Telephone Fax For further information Approving Manager Please call: 0207 368 9300 or email: knowledgebank@iqpc.co.uk Name of person completing form if different from delegate: Signature Terms and Conditions PAYMENT TERMS Upon completion and return of the registration form, full payment is required no later than 5 business days from the date of invoice. Payment of invoices by means other than I agree to IQPC’s cancellation, substitution and payment terms by credit card, or purchase order (UK Plc and UK government bodies only) will be subject to a Special dietary requirements: 6 Vegetarian 6 Non-dairy 6 Other (please specify) processing fee of €65 (plus VAT) per delegate. Payment must be received prior to the conference Please indicate if you have already registered by Phone 6 Fax 6 Email 6 Web 6 date. We reserve the right to refuse admission to the conference if payment has not been received Please note: if you have not received an acknowledgement before the conference, please call us to confirm your booking. IQPC CANCELLATION, POSTPONEMENT AND SUBSTITUTION POLICY: You may substitute delegates at any time by providing reasonable advance notice to IQPC. For any cancellations received in writing not less than eight (8) days prior to the conference, you will receive a 90% credit Payment Method to be used at another IQPC conference which must occur within one year from the date of issuance of such credit. An administration fee of 10% of the contract fee will be retained by IQPC for all Total price for your Organisation: (Add total of all individuals attending): permitted cancellations. No credit will be issued for any cancellations occurring within seven (7) days (inclusive) of the conference. In the event that IQPC cancels an event for any reason, you will Card Number: VISA 6 M/C 6 AMEX 6 receive a credit for 100% of the contract fee paid. You may use this credit for another IQPC event to be mutually agreed with IQPC, which must occur within one year from the date of cancellation. 6666666666666666 In the event that IQPC postpones an event for any reason and the delegate is unable or unwilling to attend in on the rescheduled date, you will receive a credit for 100% of the contract fee paid. You may use this credit for another IQPC event to be mutually agreed with IQPC, which must occur Exp. Date: 6 6 6 6 Sec: 6 6 6 6 within one year from the date of postponement. Except as specified above, no credits will be issuedConference code 19540.001 for cancellations. There are no refunds given under any circumstances. IQPC is not responsible for any loss or damage as a result of a substitution, alteration or cancellation/postponement of Name On Card: Signature: an event. IQPC shall assume no liability whatsoever in the event this conference is cancelled, rescheduled or postponed due to a fortuitous event, Act of God, unforeseen occurrence or any other event that renders performance of this conference impracticable, illegal or impossible. For purposes Billing Address (if different from below): of this clause, a fortuitous event shall include, but not be limited to: war, fire, labour strike, extreme weather or other emergency. Please note that while speakers and topics were confirmed at the time of publishing, circumstances beyond the control of the organizers may necessitate substitutions, City/County/Postcode Cheque enclosed for: € (Made payable to IQPC Ltd.) alterations or cancellations of the speakers and/or topics. As such, IQPC reserves the right to alter or modify the advertised speakers and/or topics if necessary without any liability to you whatsoever. Any substitutions or alterations will be updated on our web page as soon as possible. By Direct Transfer: (Please quote 19540.001 with remittance advice) IQPC Bank details: HSBC Bank, 67 George DISCOUNTS: All ‘Early Bird’ Discounts require payment at time of registration and before the cut-off Street, Richmond, Surrey, TW9 1HG Account No: 59090618 Sort Code: 40 05 15 Account No: 59090618 date in order to receive any discount. Any discounts offered by IQPC (including team discounts) also IBAN Code: GB98 MIDL 4005 1559 0906 18 Swift Code: MIDLGB22 require payment at the time of registration. Discount offers cannot be combined with any other offer. 6 Please do not pass my information to any third party PAYMENT MUST BE RECEIVED PRIOR TO THE CONFERENCE