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  1. 1. In collaboration with Private Equity & Venture Capital An Integral part of a Robust Financial Sector Date: 11th – 14th December, 2006 Venue: The Ritz-Carlton, Bahrain Hotel & Spa Attend this intensive, highly interactive 4-day practitioner led approach course and gain a sound understanding of: > Private Equity markets: structure and universal principles > Private Equity as an asset class – features, performance and asset allocation > The roles of LP’s, GP’s, the private equity cycle and the flow of funds > Appraising investments – selection criteria and lessons from experience > Investment structuring and negotiation > The importance of the portfolio approach, and the main drivers of fund performance > Due diligence principles and practices > The essential legal documents and their purpose > Aftercare, portfolio valuation and fund reporting > 10 % Approaches to achieving exits Program Director: Garry Sharp discount on early bird registration ( +971 4 332 6942 +971 4 332 6168 by 01-11-2006 ø
  2. 2. Private Equity & Venture Capital Gulf Venture Capital Association “Our Mission is to serve the Venture Capital and Private Equity industry and foster its growth in the Region” GVCA is a not for profit trade and industry association for Venture Capital (VC) and Private Equity (PE) based in Bahrain. GVCA's role is to promote a risk-taking investment culture, develop skills and provide information on VC/PE industry. GVCA organizes conferences, industry-focused technology forums, training and workshops. In addition, GVCA is a learning organization where members can share experiences and address issues of common interest. GVCA covers all aspects of the VC/PE industry such as trends and strategies, legal/fiscal policies and regulations, investment models, management of fund raising and structures, technology evaluation and valuation, contracts and control rights, information/studies, early-stage funding and corporate venture capital, among others. Membership: Members in GVCA include VC/PE companies, corporations, financial institutions and consultants, and technology development organizations, among others. The Gulf Venture Capital Association’s First Annual Report titled Private Equity and Venture Capital in MENA Region 2006 will be published by GVCA and KPMG in collaboration with Zawya Private Equity Monitor. The report will be the first of its kind in the region and will include statistics on Private Equity PE and Venture Capital VC fundraising, Venture Capital exits and Private Equity and Venture capital performance. The report is scheduled to be launched in November 2006 at a high profile event in Dubai. For more information on Gulf Venture Capital Association please contact, PO Box 11250, Kingdom of Bahrain Tel (+973) 17 5842 59 Ext 336 Fax (+973) 17 5646 06 Website- Private Equity and Venture Capital in MENA Region The private equity and venture capital industry has reached sufficient critical mass to appear on the radar screens of most investment banks in the region. Last year saw record activity for the private-equity sector throughout the MENA region. By the end of 2006, the industry is expected to cross the US$ 13 billion threshold. This growth is expected to continue in the medium and long term. The arrival of growth capital as “private equity” capital sets the stage for economic diversification, employment and job creation and value creation. The industry has the potential to help catalyse economic transformation in the region, creating enormous benefits for a wide range of players and stakeholders, including governments, banks, regulators, investors and family-owned groups. Experience in other region shows that, once established, private equity grows fast to become a significant factor in financing growing companies and enhancing the merger and acquisitions market. The number of private equity firms is now growing significantly which means that there is a growing need for well-trained experts in the field. This programme is specifically designed for those who need to understand, and apply, the tools and techniques specific to this asset class. With over 15 years’ experience in providing private equity training around the world, the programme director has developed an intensive, highly interactive 4-day programme which will equip delegates with a sound and practical understanding of the principles and practice of private equity and venture capital finance. Programme Director Garry Sharp has 21 years’ experience as a practitioner, consultant and adviser in the private equity and venture capital markets, and has provided training in the industry since 1990. He joined independent venture capital company Baronsmead in 1985, becoming a director and shareholder after helping to arrange Baronsmead’s own Management Buy Out in 1989. During the early 1990’s the company grew to become one of the UK’s largest independent private equity firms and was acquired by fund manager Ivory & Sime in 1996. Shortly thereafter Garry left to co-found Independent Direction, a specialist consultancy to the private equity industry. He sold Independent Direction in 2005 to concentrate on training and writing, although continues to work in an advisory capacity in private equity. Garry has delivered private equity courses in Dubai, London, Belgium, Czech Republic, Russia, Norway, South Africa, Zimbabwe and Tanzania. He has also had 7 books published on the topics of private equity, management buy outs and mergers and acquisitions, and is currently working on two more, to be published in early 2007. Who Should Attend Learning Format n Fund Managers The programme format developed is a proven approach which entails n Lawyers high levels of participation from delegates, in case studies, exercises, n Investment Bankers n Accountants simulations and debates. All tools and models used come from actual, n Venture Capitalists n Professional Advisers modern practice and learning is heavily focused on real life case studies. n Corporate Financiers n Corporate management Formal lecturing is reduced to the essential minimum required. n Entrepreneurs teams contemplating raising n Private Investors Delegates will be expected to arrive with an understanding of basic private equity financial and accounting concepts and familiarity with spreadsheet The programme is designed for both complete newcomers to models, but the programme is highly flexible in coping with different private equity and for recent entrants to the industry. degrees of experience. A willingness to participate actively is essential. ( +971 4 332 6942 +971 4 332 6168 ø
  3. 3. Programme Schedule Private Equity & Venture Capital Day One Day Three The Evolution of Venture Capital and Private Equity Venture Capital and Early Stage Investments n Venture capital and the birth of institutional investing n Assessing risk n Growth, geography and focus n Performance appraisal, milestones and risk reduction n Successes and failures n Approaches to deal structuring n Buy Outs and their rise to dominance n Following on – Up and Down rounds n Professionalism and standards Group Exercise: Funding a Start Up Group Exercise: Fund Strategy Delegates will develop and negotiate funding proposals for a start Delegates will work in teams to develop a strategic investment focus for a up investment new private equity fund. Due Diligence How the Industry Works > Managing the Process > The venture capital cycle > Commercial / market > Why invest in private equity? > Financial > Structure of the PE industry > Management > Funds, vehicles and partnerships > Legal > Other Building a Portfolio > The deal process Legal stages > Generating dealflow > Key documents > The Management Challenge > The role and limitations of contracts > Investment Criteria > Major documentation issues > Managing the process Group Exercise: Investment Proposals Day Four Delegates will review a series of investment proposals, from the perspective of a VC executive group deciding: Infrastructure Projects > Whether or not they should be pursued n A new approach – the emergence of real estate investing > Major issues to be addressed n Structuring real estate investments > Outline planning for progressing them n Large scale infrastructure investing Managing a Private Equity Firm Private Equity as an Asset Class > Carried interest and its implications > Risks and returns – private vs quoted equity Asset Allocation > Administration and reporting > Risk / return asymmetry and the role of outliers > Crossing borders – culture and management > Portfolio performance and diversification Managing the Portfolio Day Two > Aftercare styles and processes > Dealing with problems The Principles of Deal Structuring > The role and use of non-executives n The portfolio approach > Reporting to investors n Target returns and using IRR n Structuring parameters n Tools and techniques Group Exercise: The Problem Investment Delegates will split into teams and play the role of venture capital investors, bankers and management of an underperforming portfolio Group Exercise: Deal Structuring company. The subsequent group discussion will highlight the different Delegates will work in groups to model a proposed development capital motivations, pressures and challenges facing these different groups and investment using an Excel model. Drawing on techniques studied during their effects on the resolution of performance problems. the previous session, teams will be invited to propose an investment structure. Delegates will reconvene and each proposal will be presented and reviewed. Fund Reporting > Reporting requirements and standards > Investor Relations – issues and structuring The Management Buy Out Model > Valuation – methodology and application > The 100% mortgage > Leverage and its application The Exit > Volatility and forecasting > Types of exit > Positioning for exit > Instigating and managing the process Group Exercise: The Management Buy Out Delegates will role play as advisers to the management team at a critical Course Summary and Review late stage in the completion of a simulated buy out transaction • Review of outstanding issues • Consolidation of take away tools • Guide to further resources Advanced techniques > Use of more complex instruments > Gearing > Mezzanine debt > Ratchets What Delegates say about Garry’s Training courses “Entertaining with good discussions, interesting case studies and a helpful review of basic issues. His presentation skills are very good” Group Exercise: Management Buy In and Advanced Deal Structuring Delegates will form negotiating teams, taking on the roles of investors and “Brilliant presentation; step by step memorable principles and rules, corporate finance advisers to a management team buying into a company, high quality discussion. Overall tremendous learning - invaluable.” and negotiate key terms for a more complex transaction. “Eloquent lecturer that knows his subject well” “The lecturer was excellent - made the topics easy to understand” Case Studies: Middle East Transactions (By Imad Ghandour, Gulf Capital) “A wealth of experience put to an effective educational use A review of recent Middle East transactions, highlighting valuation and through a pleasant personality” structuring approaches adopted in the local market. ( +971 4 332 6942 +971 4 332 6168 ø
  4. 4. In collaboration with Private Equity & Venture Capital An Integral part of a Robust Financial Sector Date: 11th – 14th December, 2006 Venue: The Ritz-Carlton, Bahrain Hotel & Spa Programme Fees Standard Fee: USD 3,495.00 We would like to nominate the following person(s): Save USD 350.00 with early bird discount on registration before 01-11-06 Discounted Fee: USD 3,145.00 Group discounts are available for participants from one organisation (1) Name (Mr/Mrs/Ms) Position Fees: Includes documentation, instructional materials, lunch, refreshment and a certification of attendance. Department Programme Timing: 09:00 – 16:30 Email Registration and morning coffee will commence at 08:30 on the first day, with the programme starting at 09:00. There will be refreshment breaks (2) Name (Mr/Mrs/Ms) at appropriate times and lunch break will befrom 13:30 to 14:30 p.m Position An invoice will be sent upon receipt of your registration form. We reserve Department the right to admit only those delegates to the programmes for whom the full payment has been received before the start of the programmes. Email (3) Name (Mr/Mrs/Ms) Position PAYMENT TERMS AND OPTIONS: Department Payment is due immediately upon confirmation of admission to the programme: Email All payment should be in favour of Total Solutions Europe 1. You can pay by company cheque or bankers draft in Dirhams Company 2. Telex Transfer Address Cancellation: If a nominee is unable to attend, a substitute delegate is Postcode Country welcome otherwise a $200 service charge will be payable. Registrations Telephone cancelled less than 7 days before the event must be paid in full. Fax Disclaimer: Due to unforeseen circumstances, the programme may change and we reserve the right to alter the date, venue and / or speakers. I understand and accept the booking terms & conditions Hotel & Accommodation Details The Ritz-Carlton, Bahrain Hotel & Spa ( +973 17 580 000 +973 17 580 333 Signature Date BOOK NOW by contacting the hotel directly. HOLD ANY CUSTOMISED AND TAILOR MADE TRAINING PROGRAMME IN-HOUSE AND IMPROVE PERFORMANCE WITH SIGNIFICANT COST SAVINGS. 4 easy ways to register and obtain more information ( +971 4 332 6942 +971 4 332 6168 Banker Middle East Financial Training, P.O. Box 13700, Dubai, UAE