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Pre-conference workshop: Tuesday, September 23, 2008
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8.30am | Registration
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9am | Workshop begins
The Evolution and Implementation of PPPs in Latin America
This is your opportunity to hear how the Latin American PPP market is developing and understand the realities involved in structuring and investing in PPPs.
- How do you go about selecting an investment?
- Where is the money realized?
- How legislative reform has enabled these project to materialize so quickly
- The legal and regulatory issues facing this growing market, and the costs involved
- Tax & risk management and mitigation strategies for PPP Investments
- Key structural differences between European, North American, and Latin American PPP markets
- Identifying realistic return expectations
- Addressing the current climate for Latin American PPP projects
- Identifying which countries will most benefit from PPP projects
- PPP Project fundamentals: considerations you must make before investing
- Building effective risk management policies
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| | Felipe Montoro Jens, Head of Project & Export Finance, Odebrecht Investimentos em Infra-Estrutura
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12.15pm | Lunch for workshop attendees
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3pm | Workshop concludes
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Conference day 1: Wednesday, September 24, 2008
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8am | Registration
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8.50am | Opening Remarks from conference chairperson
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| THE BIG PICTURE: LATIN AMERICA’S INFRASTRUCTURE BOOM |
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9am | Keynote Presentation: Beyond concessions - the future of public private partnerships in LCR
- Infrastructure and the need for both sectors: An inconvenient truth?
- You learn when you burn: Are we getting better at designing and implementing PPPs?
- Principals and agents: Is there a new way to structure cooperation?
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| | Jordan Schwartz, Lead Economist in Infrastructure for Latin America and the Caribbean , World Bank
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9.30am | Economic and demographic trends- Why it’s now a good time to invest in Latin America
- Why the region’s infrastructure is underinvested
- Which countries are leading the way?
- Quantifying the size of opportunities in the region
- Economic decoupling from the US
- How geography plays a role in what projects will get completed first
- Why continue to invest?
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10.15am | Morning refreshment break
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| MANAGING POLITICAL AND FINANCIAL RISKS |
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10.45am | Navigating the political and regulatory atmosphere to make stable investments that generate lasting returns
- Risk of war and terrorism
- Government transfer risk
- The Chavez effect on managing risk in the region
- Regulatory reform in the region to encourage more private investment
- Which regulatory bodies are most developed
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| | Elena Pelei, Acting Global Head-Infrastructure, Multilateral Investment Guarantee Agency (MIGA – World Bank)
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11.25am | Panel: Leverage and its impact on financing
- Securing deals with leverage outside the region
- Views of people financing deals
- Naked equity
- Are projects taking longer to get structured?
- Working with governments and other sources of financing
- The deepening of the local capital markets
- Determining the willingness of lenders to assume construction risk
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12.10pm | Panel: Currency risk and financing
- Availability of long term local currency financing for infrastructure projects
- The real and Brazil’s hesitation to deal in US dollars
- Currency swaps using the Mexican peso0
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12.50pm | Luncheon
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| BENCHMARKING INTEREST IN PRIVATE INVESTMENTS |
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2.10pm | Valuing and pricing deals in an increasingly competitive marketplace
- Learn about pricing, underwriting, valuation, monitoring and measurement of infrastructure investments in the region
- How to assess the drivers of risk and return and their effects on cash flows and values
- Competition in the marketplace: Who are the new players, and what are they looking at?
- Bidding on investments: Can the winning bidder ultimately be the loser?
- Pace of opportunities for the private sector
- Risk arbitrage strategies
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2.50pm | Speed Networking
You’ve heard how the infrastructure market has evolved: now it’s time to meet the existing and future players in this market. Be on first name terms with the senior executives responsible for Latin America’s largest infrastructure allocations. We’ve taken the headache out of networking – no more squinting at name badges!
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3.30pm | Afternoon refreshment break
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| CASE STUDIES FROM INNOVATIVE COUNTRIES |
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4pm | Mexico
- How the success of the FARAC I project has created even more toll road opportunities in the country
- A preview of FARAC II and FARAC III
- Other infrastructure projects in the pipeline that will attract investors
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| | Oscar de Buen, Deputy Secretary of Infrastructure, Ministry of Transportation
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4.30pm | Brazil
- A look at irrigation projects in the semi-arid region of Brazil
- How Brazil developed one of Latin America’s most ambitious infrastructure agendas
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5.30pm | End of day one
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Conference day 2: Thursday, September 25, 2008
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8am | Registration
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8.40am | Opening remarks from conference chairperson
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| MAKING AND INVESTING IN THE RIGHT DEALS |
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8.50am | Optimal methods for accessing the market: Direct investments vs. infra
- Advantages of gaining infrastructure exposure through the private equity markets
- Understanding the risks involved with making direct investments in projects
- How active do you want to be with managing your investments?
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| | Bill Pearce, Director, Investment Funds, Overseas Private Investment Corporation (OPIC)
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9.30am | Tapping the credit and fixed income markets to invest in deals
- How inflation rate volatility factors into the infrastructure market
- Inflation upside
- Return to traditional project finance structures
- Gaining infrastructure exposure through bonds and other securitie
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10.10am | Morning refreshment break
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| INVESTOR ALLOCATION AND EXIT TACTICS |
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10.35am | Investor Panel: Using Latin American infrastructure as a portfolio diversifier and risk mitigator
- How to develop a LatAm infrastructure investing strategy and identify growth potential
- Where investors will find the best opportunities in the PFI and PPP markets
- Realistic return expectations
- Due diligence strategies for choosing trustworthy local partners and managers
- The asset class as an inflation hedge and the industry outlook for 2009 and beyond
- Optimal time frame from making an allocation decision to actual alloc
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11.20am | Exit strategies
- Exploring the various ways a manager may choose to exit
- Determining when an exit makes the most sense
- Optimal timeframes for liquidating investments
- What holding period do investors prefer?
- The conflict between long holding period and traditional private equity
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11.50am | U-Turn: Your Conference Agenda
It’s your turn. It’s where YOU create the agenda. So bring along your ideas and get ready to make a name for yourself.
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12.20pm | Lunch
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| DEAL FLOW: WHERE THE MOST MONEY IS GOING |
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1.25pm | Panel: Transportation
- Toll road network
- Railroad development
- Urban transportation
- Port and airport market
- Regional integration
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2.05pm | Panel: Investing in power and energy related infrastructure assets
- Sugar-based ethanol refineries
- Power generation, transmission and distribution
- Biofuels and other renewable energy sources
- Financing and investing in wind energy
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2.45pm | Panel: Water and wastewater treatment
- Lessons learned from Mexico’s water infrastructure privatization program
- Constructing water pipelines in rural areas
- Need for investment in the region
- Public vs. private dilemma
- The future of the water sector/opportunities
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| | Susan Wermcrantz Davis, Investment Officer- Structured & Corporate Finance Department, Inter-American Development Bank
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3.20pm | Panel: Oil & gas development and transport infrastructure
- Financing and investing in exploration and drilling projects in Brazil’s newly discovered oil fields
- Building an interconnected pipeline network throughout Latin America
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| | Denis de Castro, Director of Project and Commodity Finance, Latin America, HVB Americas
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| LEGAL ISSUES |
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3.50pm | How legal, tax and regulatory reforms are encouraging more private investment in Latin American infrastructure
- • Evaluating the prospect for new business through infrastructure investments in Latin America
- Effective ways to construct infrastructure funds in order to optimize tax treatment
- Obtaining favorable terms and conditions for infrastructure funds and related co-investment arrangements
- Preventing Contract Disputes
- The effect of these structures on infrastructure transactions
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4.30pm | Chairman’s closing remarks and conference wrap
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4.35pm | End of day two
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