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Informa
07:45 - 08:45 60 mins
Info
Day 3
LP-only closed door breakfast

By invitation only

08:45 - 09:10 25 mins
Day 3
Welcome coffee
09:10 - 09:15 5 mins
Day 3
Chairperson’s introduction
09:15 - 09:45 30 mins
Info
Day 3
Performance and benchmarking

What is the gold standard today? Is multiple benchmarking a safer option in light of distorted net IRRs caused by the increased use of subscription lines? How sure can you be that a strong track record is an accurate indicator of future performance?

09:45 - 10:15 30 mins
Info
Day 3
Rethinking the central tenets of capital markets
  • Eli Talmor - Founder, Institute of Private Equity, London Business School

Exploring how the success of private equity disproves the most fundamental axioms of capital markets and how the balance of power has changed and so should our thinking. Is fund level financial innovation the "next thing" in private equity?

10:15 - 10:45 30 mins
Day 3
Putting theory into practice: an LP’s perspective on asset allocation
  • Nir Ovadya - Chief Investment Officer, Amitim
  • Interviewed by Eli Talmor - Founder, Institute of Private Equity, London Business School
10:45 - 11:15 30 mins
Morning coffee and networking break
11:15 - 11:45 30 mins
Info
Day 3
Co-investing: Professors vs the professionals
  • Tim Jenkinson - Professor of Finance, Private Equity Institute, Said Business School, University of Oxford

Unlocking the performance data

11:45 - 12:15 30 mins
Info
Day 3
Co-investing: Professors vs the professionals
  • Panellists David Smith - Managing Director, Co-head of Co-investment, Capital Dynamics
  • Rob de Jong - Managing Director, AlpInvest Partners
  • Tim Jenkinson - Professor of Finance, Private Equity Institute, Said Business School, University of Oxford
  • Cyril Demaria - Head of Private Markets, Wellershoff & Partners

Theory vs practice: the debate

12:15 - 12:45 30 mins
Info
Day 3
Co-underwriting vs syndicated co-investing: where are the best returns being generated?
  • Moderator Jim Strang, Hamilton Lane
  • Panellists Elias Korosis - Partner, Hermes GPE
  • Arnaud Lipkowicz - Managing Director - Partner, GCM Grosvenor

How does the performance of active vs syndicated deals compare? What do you need to get right as an LP to secure active co-investments and how are leading LPs sourcing deals intelligently? With such fierce competition for syndicated deals, how do you get a look in?

12:45 - 13:15 30 mins
Info
Day 3
Co-investing: portfolio management
  • Moderator Sweta Chattopadhyay - Senior Investment Manager, RPMI Railpen
  • Panellists Jean-Francois Le Ruyet - Partner, Quilvest Private Equity
  • Erik Nobel - Investment Director, AP6
  • Kevin McDowell - Managing Director, Alberta Teachers' Retirement Fund
  • Francesco di Valmarana - Partner, Pantheon

How are sophisticated LPs building and managing their co-investment programmes and how do hands on vs hands-off approaches compare? What are LP views on taking board seats, influencing portfolio companies and risk mitigation plans for when things go wrong?

13:15 - 14:00 45 mins
Lunch and networking break
14:00 - 14:30 30 mins
Info
Day 3
GPs on co-investing

What can LPs do to improve their chances of being seen as the co-investor partner of choice? How are GPs deciding who to offer co-investment opportunities to & what kinds of deals are on the table? What can you do when there isn’t enough to go around?

14:30 - 15:00 30 mins
Info
Day 3
Customised and separate accounts
  • Panellists Jobst Klemme - Director, Abbott Capital Management

How well are separate accounts addressing the increased demand for customisation and how is this altering the LP/GP relationship? Exploring the different types of separate account that exist, relative target returns and LP expectations

15:00 - 15:45 45 mins
Info
Day 3
Co-investing: candidly speaking

‘Off the record’ 

Closed door discussion. 

Run under the Chatham House Rule. Interactive discussion encouraged. Places are limited.

  • Fees on co-investing: the new normal?
  • Holding your nerve when a deal doesn’t go well
  • Who would you never call for a deal?
15:45 - 15:50 5 mins
End of conference