Reinvigorating the market: Adapting to crises of … · Reinvigorating the market: Adapting to crises of confidence deutschepecongress.com . The backdrop for private equity has changed

Thursday 30 October, 2008Bayerischer Hof, Munich

Reinvigorating the market: Adapting to crises of confidence

deutschepecongress.com

The backdrop for private equity has changed dramatically over the last 12 months, leaving many to worry about what the future holds. Fortunately in DACH, things are less bleak. For years the rest of Europe waited with bated breath for Germany’s market to ‘open up’ to private equity – holding it up as some sort of untapped promise land of opportunity. As other countries watched their large buyout markets take off, Germany continued to provide just a handful of upper mid market deals, with only a fraction of them in the true bulge bracket.

However, it is precisely this slow-but-steady approach that has seen Germany fare relatively well, despite the negative sentiment that plagues other markets. While deals indeed take longer to complete, they are at least getting done. In fact pockets of liquidity in local banks and mezzanine houses are propping up a steady supply of deals in the lower- to mid-market. Indeed, while Europe saw a drop off of a third of deal volume and a staggering 63% drop in value in Q1 2008 compared to the same time

Welcome

Deutsche unquote” Private Equity AwardsAfter the success of the inaugural Private Equity Awards in 2007, unquote” is delighted to announce its second Deutsche unquote” Private Equity Awards.

The Congress will be followed by a drinks reception and the Deutsche Private Equity Awards ceremony.

Designed to act as a showcase of excellence in the DACH market, the awards will reward innovation and flair by those who have contributed tangible and measurable success within their sector of the industry in 2007. The winners in the six categories will be decided upon by an audit of data from the region, plus a prestigious panel of independent advisers who will be guiding the judging process. And with competition hotting up between the region’s key players, everyone will want to know whose successes will be rewarded on the night.

This year’s award categories are:

Law Firm of the Year Debt Provider of the Year Due Diligence Specialist of the Year Small / Mid-cap Exit of the Year Venture Capital Exit of the Year Corporate Financier of the Year

period a year earlier, (arguably the starkest fall in recent years) the German market saw only a slight decline in activity in the mid-market and practically none at all in the smaller deal sizes. Local practitioners have clearly done something right.

While the much-hoped-for floodgates never truly opened in Germany, its patient approach has put it in good stead to weather the current turbulence in the markets.

We look forward to seeing you there.

Kimberly Romaine, Editor in Chief, unquote”

30 October 2008Hotel Bayerischer HofMunich

For more information please contact:Anna GreenhillT: +44 (0)20 7004 7560E: [email protected]

08:30 Registration and coffee

08:55 Welcome Address: Kimberly Romaine, Editor-in-Chief, unquote”

09:00 Chairman’s opening remarks: Richard Burton, Partner, PRICEWATERHOUSECOOPERS

09:10 Keynote address

09:30 Panel: Assessing market conditions in the midst of the credit crunch: Does Germany’s economy offer any resilience?

• Opportunities and challenges around performance

• Pricing: How is the market seen at the moment?

• Returns and fundraising

• Impact on exits: Can we leverage secondary buyouts in the current market?

Moderator: Gerd Bieding, Partner, CLOSE BROTHERS

Paul de Ridder, Partner, HALDER

Kai Gebauer, Head of MidCap Leverage Finance Germany, DRESDNER KLEINWORT

Nathalie Faure Beaulieu, Regional Managing Director, Northern Europe & Head of Mezzanine, EUROPEAN CAPITAL

Nick Money Kyrle, Managing Partner, STEADFAST CAPITAL

10:15 Panel: Adding value through integrity

• Ensuring integrity as an important part of the investment process

• Pre-transaction due diligence is only part of the truth, compliance becomes a focus

• How compliance can be ensured in portfolio companies

• How compliance can add value

• Lessons learned from past experiences

Moderator: Ulrich Buechsenschuetz, Associate Director, Berlin, CONTROL RISKS

Hans Jürgen Stephan, Managing Director, Berlin, CONTROL RISKS

Sebastian Biedenkopf, General Counsel, MAXINGVEST AG

Christoph Hauscheka

11:00 Morning break and opportunity for networking

11:30 Presentation: Acting in concert - Impact of recent German legislation and court precedents on investments

• Scope of tender offer obligations

• Information requirements

• Sanctions

Axel Goetz, Attorney & Equity Partner, BEITEN BURKHARDT

12:00 Panel: How has the German secondaries market been influenced by the credit crunch?

• Are institutions selling more than usual (liquidity need) or waiting for a market uplift?

• Have sellers’ price expectations come down to better match buyers’ expectations?

• Intermediaries role?

• Are / have German GPs made use of stapled secondaries deals? How is this seen by LPs / secondaries players? Is there any

conflict of interest?

Moderator: Tanja Saaty, Investment Director, GREENPARK CAPITAL

Panellists to be confirmed: Please visit www.deutschepecongress.com for further updates

12:45 Networking lunch

Morning

14:00 Panel: Eastern expansion: DACH speaking countries looking into Central & Eastern Europe

• Is the Austrian “close to home advantage” enough to make successful private equity deals?

• If Austria is a good place to do private equity business in CEE, is this true for all CEE countries in the same way?

• What are the prerequisites to be potentially successful with PE in CEE?

• Opening up of Turkey & Ukraine

Thomas Jud, Partner, INVEST EQUITY

Pekka Maki, Managing Director, 3TS CAPITAL PARTNERS

Hannes Ambacher, Member of the executive board of Global Private Equity IV Holding AG, GUTMANN BANK

Olivier Weddrien, Chief Executive Officer, DZ EQUITY PARTNER

Ulrich Grabenwarter, Head of Equity Fund Investments, EUROPEAN INVESTMENT FUND (Subject to final confirmation)

14:45 Panel: Is Germany still afraid of Foreign Investors? Overview of recent legislative proposals and landmark cases

• Act for the Limitation of Risks Associated with Financial Investments (Risk Limitation Act) (Deutsche Börse AG / TCI)

• Act for the Modernisation of the Conditions for Capital Investments (MoRaGK)

• Act for the Promotion of Venture Capital (Venture Capital Act)

• Interest Barrier after the 2008 Corporate Tax Reform

• Private Equity as a Financing Source for Small and Medium Enterprises (Pfleiderer AG / AXA Private Equity)

Moderator: Thomas J. Sacher, Attorney & Equity Partner, BEITEN BURKHARDT

Alexander Vogel, Partner, MEYER LUSTENBERGER

Florian Cvak, Lawyer, SCHÖNHERR

15:30 Afternoon break and opportunity for networking

16:00 Panel: The rise of distressed debt, turnarounds and special situation funds

• State of the current financing market

• Trends and new alternatives for midcap financings

• Financing strategies in special situations

• Buying debt vs. buying equity

• Differences between the different markets in Europe

Dirk Markus Chief Executive Officer, AURELIUS

Arno Fuchs, Founding Partner & Chief Executive Officer, FCF

Hans Albrecht, Managing Director, NORDWIND CAPITAL

Ernst Ludes, Partner, EQT PARTNERS

16:30 Panel: Risk limitation: In the current climate, should LPs be further diversifying their portfolio?

• Benefits of a diversified portfolio

• Consequences of today’s competitive environment

• Managing with documentation issues

Moderator: VCM CAPITAL MANAGEMENT

Panellists to be confirmed: please see www.deutschepecongress.com for further updates

17:15 Chairperson’s closing remarks: Richard Burton, Partner, PRICEWATERHOUSECOOPERS

17:30 Cocktail reception

18:00 Deutsche unquote” awards

19:30 End of awards

Afternoon

Hear an in-depth discussion on the current economic climate and whether the strong German economy can offer any kind of resilience

Discuss the rise of distressed debt, turnarounds and special situation funds with NORDWIND CAPITAL and EQT PARTNERS

Is Germany still afraid of foreign investors? BEITEN BURKHARDT gives us an overview of recent legislative proposals and landmark cases

Listen to GREENPARK CAPITAL lead a session on how the German secondaries market has been influenced by the credit crunch

What’s prompting the DACH countries to look into Eastern Europe? Find out with DZ EQUITY PARTNERS, GUTMANN BANK and 3TS CAPITAL PARTNERS

Adding value to your private equity deal through integrity – discussion with CONTROL RISKS

What’s in it for you?

Legal Experts

Finance Directors

Managing Directors

CEOs

Directors of Asset Management

Placement Agents

Corporate Financiers

Heads of Private Equity Groups

Senior Investment Officers

Pension Fund Managers

Associations

Managing Partners

Institutional Investors

Heads of Alternative Investment

Portfolio Managers

Fund of Fund Managers

Investment Managers

Founding Partners

Senior Bankers

Analysts

Partners

CFOs

Who will benefit?

To Register • T: +44 (0)870 240 8859 • F: +44 (0)20 504 3730 • E: [email protected]

Deutsche unquote” . For almost 10 years Deutsche unquote” has provided fully validated deal data for the DACH and CEE regions. By reading Deutsche unquote”, you’ll receive the latest news, deals and exit information painstakingly researched and verified by our editorial team. To request a free trial, visit deutscheunquote.com

Hosted by:

Hans Albrecht Managing Director

NORDWIND CAPITAL

Thomas JudPartner, INVEST EQUITY

Nathalie Faure BeaulieuRegional Managing Director,

Northern Europe & Head of Mezzanine, EUROPEAN CAPITAL

Ernst LudesPartner, EQT PARTNERS

Sebastian BiedenkopfGeneral Counsel,

MAXINVEST

Pekka MakiManaging Director, 3TS CAPITAL PARTNERS

Ulrich BuechsenschuetzAssociate Director, Berlin,

CONTROL RISKS

Dirk MarkusChief Executive Officer, AURELIUS

Richard BurtonPartner,

PRICEWATERHOUSECOOPERS

Tanja SaatyInvestment Director, GREENPARK CAPITAL

Paul de RidderPartner, HALDER

Thomas J. SacherAttorney & Equity Partner, BEITEN BURKHARDT

Arno FuchsFounding Partner & CEO,

FCF

Olivier WeddrienChief Executive Officer, DZ EQUITY PARTNER

unquote” Event Series

Series Sponsors:

Greenpark Capital Limited is an independent global private equity secondaries investment group, dedicated to providing liquidity solutions to investors seeking to exit from private equity investments before such investments have reached maturity. Greenpark currently advises funds in excess of $700 million and is capitalised by major institutions from Europe, the US, the Far East and the Middle East. The Greenpark team has extensive experience in the secondaries market and a broad base of language and cultural skills, enabling the expert execution of transactions throughout Europe and across the world. Greenpark has built a reputation for sound investment skills, innovative deal structuring and a highly responsive approach to sellers’ specific needs. It has the recognised expertise to deliver customised solutions to investors with total reliability and confidentiality.

greenparkcapital.com

Control Risks is an international business risk consultancy, whose aim is to enable its clients to operate successfully in complex and hostile environments. Control Risks is retained worldwide to provide practical – not theoretical – advice to mitigate a wide range of risks. By providing independent and objective advice based upon unprecedented experience, Control Risks has directly assisted many of the world’s major organisations at times of turmoil and stress.

control-risks.com

Co-Sponsor: Supporting Associations:Associate Sponsor:

AVCO Austrian Private Equity and Venture Capital Organisation – covers more than 90% of the Austrian Private Equity market with its members. AVCO is currently made up of 27 full members and 32 associated members. [email protected] avco.at

PriceWaterhouseCoopers helps clients find the right target, manage the process, structure the deal and accelerate the transition to ownership. PricewaterhouseCoopers Transaction Services in Italy has 150 dedicated deal specialists, assisting world’s leading private equity houses as well local clients. Using cross-functional teams and having access to the global PwC network, we bring together all the relevant expertise from across our firm, including M &A, tax and legal advice. Our overriding objective is always to help you maximize the return on your deal.pwc.com

Beiten Burkhardt is an independent international law firm. We have more than 385 lawyers advising medium-sized companies, large corporations, groups of various industries as well as the public sector comprehensively on commercial law. Apart from our 5 offices in Germany, we have a strong international presence in Eastern Europe (Poland, Russia and Ukraine), China and Brussels. We cooperate closely with excellent law firms in other key markets. In teams managed by partners we are developing solutions for our clients on performance-minded terms.bblaw.com

Sponsors:

Asian Venture Capital Journal (AVCJ) is the definitive source for hard information on private equity and venture capital activities in the Asia-Pacific region. Asia’s leading publication on private equity and venture capital. AVCJ provides coverage of fund-raising, investments, exits and the people behind the deals. avcj.com

Media Partners:

Private Equity Europe provides fully validated pan-European coverage, statistics and analysis on the latest fundraising, buyout and exit news. It also provides expert commentary on current issues surrounding institutional investment into the private equity asset class as well as detailed information on the senior and subordinated debt markets. privateequityeurope.com

unquote”Nordic Private Equity CongressStockholm, 6 November 2008 nordicpecongress.com

unquote”Italia Private Equity CongressMilan, 26 November 2008 italiapecongress.com

unquote”South Africa Private Equity CongressCape Town, 12 February 2009 southafricapecongress.com

Private Equity Insight is the most comprehensive market analysis service available for private equity professionals. This unique three tiered service covers the private equity cycle from LP profiling and fund research through to deal, adviser and exit information. Private Equity Insight is the only work tool that contains detailed, fully validated, searchable intelligence and is managed by a team of research professionals. privateequityinsight.com

Research Partners:

Hans Albrecht Managing Director

NORDWIND CAPITAL

Thomas JudPartner, INVEST EQUITY

Nathalie Faure BeaulieuRegional Managing Director,

Northern Europe & Head of Mezzanine, EUROPEAN CAPITAL

Ernst LudesPartner, EQT PARTNERS

Sebastian BiedenkopfGeneral Counsel,

MAXINVEST

Pekka MakiManaging Director, 3TS CAPITAL PARTNERS

Ulrich BuechsenschuetzAssociate Director, Berlin,

CONTROL RISKS

Dirk MarkusChief Executive Officer, AURELIUS

Richard BurtonPartner,

PRICEWATERHOUSECOOPERS

Tanja SaatyInvestment Director, GREENPARK CAPITAL

Paul de RidderPartner, HALDER

Thomas J. SacherAttorney & Equity Partner, BEITEN BURKHARDT

Arno FuchsFounding Partner & CEO,

FCF

Olivier WeddrienChief Executive Officer, DZ EQUITY PARTNER

unquote”Nordic Private Equity CongressStockholm, 6 November 2008 nordicpecongress.com

unquote”Italia Private Equity CongressMilan, 26 November 2008 italiapecongress.com

unquote”South Africa Private Equity CongressCape Town, 12 February 2009 southafricapecongress.com

Speakers and Panellists

Hans Albrecht Managing Director

NORDWIND CAPITAL

Thomas JudPartner, INVEST EQUITY

Nathalie Faure BeaulieuRegional Managing Director,

Northern Europe & Head of Mezzanine, EUROPEAN CAPITAL

Ernst LudesPartner, EQT PARTNERS

Sebastian BiedenkopfGeneral Counsel,

MAXINVEST

Pekka MakiManaging Director, 3TS CAPITAL PARTNERS

Ulrich BuechsenschuetzAssociate Director, Berlin,

CONTROL RISKS

Dirk MarkusChief Executive Officer, AURELIUS

Richard BurtonPartner,

PRICEWATERHOUSECOOPERS

Tanja SaatyInvestment Director, GREENPARK CAPITAL

Paul de RidderPartner, HALDER

Thomas J. SacherAttorney & Equity Partner, BEITEN BURKHARDT

Arno FuchsFounding Partner & CEO,

FCF

Olivier WeddrienChief Executive Officer, DZ EQUITY PARTNER

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r Summer Saver Before 01 August 2008 ¤1599.00 ¤500.00

r Early Bird 1 Before 28 March 2008 ¤1749.00 ¤350.00

r Early Bird 2 Before 18 April 2008 ¤1899.00 ¤200.00

r Full Price After 18 April 2008 ¤2099.00

r Subscriber** 20% Discount ¤1679.20

r Supporting Association Members** 20% Discount ¤1679.20

r Limited Partners & Funds of Fund** Complimentary

* All prices are excluding VAT at 17.5%

** Discounts cannot be combined. ** All discounts are calculated on the full price of the event and must be qualified by Incisive Media. The organiser’s decision is final.

Please note: Your payment must be received prior to attendance.

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