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Informa

08:10 08:30 (20 mins)

Main agenda

Registration

08:30 08:35 (5 mins)

Main agenda

Chairperson's introduction

08:35 09:10 (35 mins)

Main agenda

2017 State of the union - Europe: moving into unknown territory

What does the EU mean today & how can it maintain legitimacy? An update on the progress of Brexit and the wave of right wing populism. What is the likely impact on trade, investment, the euro & capital flows?

09:10 09:40 (30 mins)

Main agenda

2017 State of the union - U.S.: the siren call of protectionism?

What is the likely impact of the U.S. administration’s tax reforms? Which of the president’s campaign promises are still achievable & what has been prioritised? What does this mean for trade, the budget deficit & the USD? What is the outlook for global institutions?

09:40 10:05 (25 mins)

Main agenda

Keynote address

10:05 10:35 (30 mins)

Main agenda

Private equity: nimble, disruptive, opportunistic

How can private equity navigate through global geopolitical uncertainty and take advantage of dislocation? What are the specific threats posed by populism and protectionism? How can deals be structured if you cannot deduct the leverage part? Where will opportunities lie if in 5 years’ time the euro no longer exists?

10:35 11:05 (30 mins)

Main agenda

Morning coffee

11:00 11:25 (25 mins)

Main agenda

Keynote Interview

11:25 11:55 (30 mins)

Main agenda

Private equity 2030

Examining trends in new fund structures, fund families, long-term investing, directing investing and separately managed accounts, increasing transparency, explosive growth of the secondaries and private debt markets, liquidity in management companies. Will we recognise the industry in 2030?

11:55 12:20 (25 mins)

Main agenda

The very latest data: returns, performance & benchmarking

12:20 12:50 (30 mins)

Main agenda

LPs: preparing for a downturn

How should LPs deploy their record distributions and excess capital in today’s frothy market? Where should capital be invested, when asset prices are so high? How can investors protect their portfolio in advance of a correction and at what point should LPs pull in their horns? 

12:50 14:00 (70 mins)

Main agenda

Lunch

14:00 14:30 (30 mins)

A: Real assets, infrastructure & growth

The growing overlap of infrastructure and PE

With elevated valuations, how will infrastructure funds generate appropriate risk-adjusted returns and do these compensate enough for illiquidity? What does technology hold for the future of infrastructure assets?

14:00 14:30 (30 mins)

B: GP differentiation

Differentiation & specialisation

How will the new generation of sector specialists perform in Europe? What are the success factors in a fragmented market?

14:00 14:20 (20 mins)

C: Mid market and lower mid market

Brand new data: a comparison of performance by fund size in Europe and North America

A comparison of performance by fund size in Europe and North America

14:15 14:45 (30 mins)

C: Mid market and lower mid market

Brand new data: how are mid market managers proactively sourcing deals in today’s highly competitive market?

Where do they see opportunities and what are the consistently effective strategies for adding value?

14:30 15:00 (30 mins)

A: Real assets, infrastructure & growth

Diversifying exposure through real assets

Where do real assets sit within a diversified private equity portfolio and how are these best accessed? How can LPs balance access to an uncorrelated return stream with illiquidity and volatility risk?

14:30 15:00 (30 mins)

B: GP differentiation

Value creation in figures: portfolio company look-through

Understanding what is driving returns at the portfolio company level. How does this compare across cycles?

14:45 15:10 (25 mins)

C: Mid market and lower mid market

Lower mid market showcase

15:00 15:15 (15 mins)

A: Real assets, infrastructure & growth

Growth equity, venture growth & growth buyout: what are the return expectations and loss ratios in growth equity and how do these compare to venture and PE

Is this sustainable?

15:00 15:30 (30 mins)

B: GP differentiation

Value creation in figures: how are GPs innovating to add value at the top of the cycle?

Is ebitda growth inherently better than multiple expansion?

15:15 15:45 (30 mins)

A: Real assets, infrastructure & growth

Growth equity, venture growth & growth buyout: how can superior returns be achieved in Europe & how scalable is the opportunity?

In a volatile IPO market & what are the available exit routes?

16:00 16:20 (20 mins)

A: Venture capital

Latest VC performance data

Is the European VC uptick set to continue? How is the VC ecosystem evolving in Europe and what does this mean for investors?

16:00 16:30 (30 mins)

B: Private equity game-changers

Long-term investing in private equity

To what extent do long-dated funds and evergreen structures address the inefficiencies of the ten-year fund cycle? How do the economics work for LPs and GPs? When is this type of vehicle appropriate and how can you incentivise the team and structure the fund?

16:00 16:15 (15 mins)

C: Distressed, turnarounds and special sits

Distressed, turnarounds & special situations

How does the current opportunity set differ from previous cycles?

16:00 17:10 (70 mins)

Engaged conversations

Bridge financing closed door boardroom session run under the Chatham House rule

How do banks view potential deals and how do they model how loan portfolios will perform in a downturn? What are banks doing differently from 2007? What are the potential benefits to LPs of fund financing? How do GPs balance the competing interests of their LPs? How does this impact returns, performance and benchmarking? What is the impact on incentivisation in GPs and LPs and what are the implications?


16:15 16:45 (30 mins)

C: Distressed, turnarounds and special sits

How do the different strategies compare and which part of the market should LPs be investing in?

What options are on the table – in Europe and beyond?

16:20 16:45 (25 mins)

A: Venture capital

Start-up & scale-up

How should LPs be approaching European VC? Is it worth considering VC if the top five funds are not an option?

16:30 17:00 (30 mins)

B: Private equity game-changers

Investing into managers

What are the drivers behind groups buying an interest in private equity firms? How are potential conflicts of interest managed, and what are the planned routes to exit?

16:45 17:10 (25 mins)

A: Venture capital

Core thesis soapbox

Top VC funds will have five minutes each to explain what they think is the next hottest trend & why, & how they plan to capitalise on it

16:45 17:10 (25 mins)

C: Distressed, turnarounds and special sits

Distressed, turnarounds & special situations showcase

17:10 17:50 (40 mins)

Main agenda

Special guest speaker

17:50 18:30 (40 mins)

Main agenda

Networking drinks reception

18:30 18:30 (0 mins)

Main agenda

Close of main conference day 1