• A short history of Latin American private equity: What has changed since the last Latin American private equity boom a decade ago?
• What must fund managers do differently? Implementing a Latin American approach to private equity investing
• The fund raising forecast for the year ahead
  

• Management of financial crises in Latin America
• What have governments done? Reforms in corporate governance, legal systems, and domestic capital markets
• The risk factor? Are investors safer now?
• The economic outlook for the year ahead
  

• A check-up on the health of the capital markets
• The IPO market
• Trade-Sales
• Buy backs
• Creative exit strategies
  

• Nature of seller groups and negotiation dynamics
• A developing market for acquisition financing
• Management changes and culture shock
• Boardroom practices
  

•         SMEs opportunities
• Adding value through investing
• When are buyouts appropriate
  

• Who is investing in private equity in Latin America?
• Are allocations increasing, decreasing or remaining steady?
• How does private equity fit into institutional investors’ strategic asset allocation?
• What do investors like and dislike about the PE opportunities in Latin America?
  

•     The U.S. Hispanic market is rapidly expanding. Where are the opportunities and how can PE firms take advantage of them?
• Partnerships between private equity and corporate businesses
• Hot sectors
• Paying attention to ethnic differences
• Success stories and challenges
  

• Latin American returns – how do they measure up?
• Market capitalization in Latin America compared to other regions
• What can Latin America learn from other emerging markets?
  

•     Sector-specific funds
• Where are the opportunities?
• Exits
  

• Agribusiness
• Hydrocarbons and forestry
• Clean energy

• Assessing opportunities in Latin America’s largest market
• Regulatory reforms – What has been achieved and what still must be done
• The emergence of local LPs
• What are the exit strategies?
  

• Assessing the impact of SAPIs, the new security market act increasing the rights of minority shareholders and facilitating companies going public
• The Calderón presidency – what are his challenges? What does his win mean to investors and business?
• Venture capital opportunities
• How will public markets benefit from the increased activity in the PE landscape?
• The effect of local institutional investors on the Mexican PE industry
  

• Has Argentina recovered from the 1999-2002 crisis?
• What has been the effect of CAFTA on Central America?
• Caribbean investment opportunities
  

•     How are hedge funds getting in on the traditional private equity deals?
• Where are they investing?
• How are they complimenting traditional PE investing? How are they competing with PE firms?
  

• Reviewing the fundamentals of infrastructure investing
• Matching opportunities to the investor's strategy – risk, return, liquidity
• Expectations of growth: how will the market develop and proliferate in Latin America
  

Tuesday will be devoted to a host of tax issues involving private equity funds generally and investing in Latin America in specific.  Tax experts from leading firms will cover:

• Treatment of U.S. vs. foreign organization of the fund and other tax issues relative to fund formation.
• Managing UBTI and effectively connected income issues.
• Effective use of "blocker" entities.
• Handling compensation of management.
• Structuring the LLC Operating Agreement from a tax perspective
• Handling US regulatory and compliance issues, including tax withholding on income of non-U.S. investors.
• U.S. tax aspects of outbound investments into Latin America under controlled foreign corporation and "PFIC" regimes.
• Tax planning for the investment, repatriation and exit in the several countries, including Mexico, Brazil and Argentina.
• Use of holding companies for Latin investments (e.g., Netherlands, Spain, Uruguay).
• Use of tax treaties. 
  

Sponsored by:

Edward Tanenbaum
Chair, International Tax Practice Group
Alston & Bird


Edward Tanenbaum is Chair of the Firm’s International Tax Practice Group. His practice is concentrated on domestic and cross border mergers, acquisitions and business transactions. Mr. Tanenbaum is a frequent lecturer on a variety of international tax issues. He has authored numerous publications relating to international tax matters such as effectively connected income and branch level taxes of foreign corporations doing business in the U.S. Mr. Tanenbaum is on the National Council of the International Fiscal Association and is the first Vice-Chair of the Committee on U.S. Activities of Foreign Taxpayers and Tax Treaties of the American Bar Association. He is a director and past president of the International Tax Institute.
He is listed for Taxation in the Best Lawyers in America and he has been recognized in Euromoney’s World’s Leading Tax Advisors. Mr. Tanenbaum received his BA degree, magna cum laude, from Queens College of the City University of New York in 1971 and his JD degree from Fordham University School of Law in 1974. He received an LLM in Taxation from New York University School of Law in 1980.