|
Conference day one: Wednesday, December 3, 2008
|
8am | Registration and welcome coffee
|
8.45am | Host’s welcome
|
8.50am | Chairperson’s opening remarks
|
| | Amaury Junior, Founding Partner and CIO, Vision Brazil Investments
|
| A NEW ERA IN THE BRAZILIAN PRIVATE EQUITY INDUSTRY |
|
9am | Keynote address: 2008 in review and an eye on 2009
- Capitalizing on the expansion of Brazil’s affluent sector
- The near future of IPOs, strategic partners, and other exits
- Sourcing investments in an era of growing competition
- How do international megafunds affect the balance of local business?
- What do private equity partners need to do to prepare against economic contraction?
|
| |
|
9.30am | Presentation: opportunities created by Brazil’s role as a global supplier of natural resources
- China’s demand for Brazilian oil and mineral resources
- GCC interest in Brazil agriculture
- GCC sovereign wealth funds interest in Brazilian private equity
- China Investment Corporation and Brazil
|
| |
|
10am | Keynote panel discussion: GP executive forum
- How will the Brazilian market develop in 2009?
- Review of the top deals of 2008
- A slowing IPO market and an eye on strategic buyouts
- Strategies for sourcing investments that are outside of the mainstream line of vision
- How has the availability of leverage changed in 2008?
|
| | Enrique Bascur, Head of Latin America and Group Managing Director, CVCI
|
10.40am | Morning coffee and networking break
|
| GLOBAL AND DOMESTIC LP PERSEPCTIVES |
|
11am | Keynote panel discussion: international perspective on private equity investments for pension funds
- Deciding whether to invest in a private equity fund or make a direct investment
- How to select managers
- Choosing between international or Brazilian managers
- Selecting the supportive professionals for making a private equity investment
- Working with corporate boards to ensure acceptable governance practices are in place
- Identifying private equity opportunities
- Liquidity and transparency requirements for private equity investments
- Need to allocate to alternative sources of returns in light of lower interest rates on the horizon
|
| |
|
11.40am | Adapting US LBO structures to Brazilian private equity deals
- Differences between US and Brazilian LBOs
- Evolution of Latin private equity market
- Equity, debt, and acquisition components
- Brazilian LBO structures
|
| |
|
12.20pm | Networking lunch
|
| DEAL FLOW AND DUE DILIGENCE |
|
1.20pm | Panel discussion: sourcing new investments
- Circumventing competition by identifying corollary investments to popular sectors
- Developing relationships with former directors and government officials who can make referrals
- The growing acceptance of entrepreneurs to private equity investments
- Due diligence in working with family owned businesses, unions, and other vested interests
|
| |
|
2pm | Panel discussion: due diligence for GPs and LPs
- Improving preparation on the parts of companies for due diligence
- How LPs select underlying fund
- Lessons learned from 2007’s breakneck pace of IPO deals
- Key points to consider in constructing a prospectus
- Reducing tax, labor, management and transparency contingencies
|
| | Edward Leek, Partner - Financial Advisory Services, KPMG
|
2.45pm | Due diligence case study: Gol Intelligent Airlines
- Critical factors for a successful due diligence process
- How much time should be devoted to business/operational due diligence versus legal/fiscal due diligence?
- Dealing with surprises
- Sources of valuable information during the process
|
| |
|
3.05pm | Presentation: understanding valuations in Brazil
- Differences between valuations in Europe, the US and Brazil
- Unique considerations when valuating business in Brazil
|
| | Claudio Ramos, Partner, Financial Advisory Services, KPMG Corporate Finance, Debt & Equity Advisory
|
3.45pm | Speed Networking
sponsored by:
|
4.25pm | Afternoon refreshment break
|
| LEVERAGED AND STRUCTURED FINANCE |
|
4.50pm | Case study: accessing capital markets through mezzanine funds
- Financing instruments that are hybrid between pure equity and pure debt finaning
- Unvarying exit mechanism: companies own cash flow
- Complementary exit mechanisms
- Fund management and governance
|
| |
|
5.10pm | Panel discussion: working with multilaterals
- Dropping interest rates creating cheaper debt
- Offering alternative placements in a slowing IPO market
- The changing face of multilaterals
- Developing new debt, equity, and convertible instruments
- What opportunities do multilaterals open that commercial banks will not?
|
| | Susan Wermcrantz Davis, Investment Officer- Structured & Corporate Finance Department, Inter-American Development Bank Edson Furuiti, Investment Manager Equity Group, DEG - KFW Banking Group Andrew Gunther, Country Manager - Brazil, International Finance Corporation, World Bank Group
|
|
Conference day two: Thursday, December 4, 2008
|
8am | Registration and welcome coffee
|
8.50am | Chairperson’s opening remarks
|
| |
|
| EXIT STRATEGIES |
|
9am | Panel discussion: public market exit strategies
- Investor confidence in the Brazillian IPO market
- Issues in pre-IPO corporate governance due diligence
- Oversight of deal pricing
- Slowing IPO plans worldwide
- Will private equity backed exits return to 2007 levels?
- How will the Brazilian market deal with such volatile global market conditions?
|
| |
|
9.45am | Panel discussion: legal & tax aspects of equity capital market transactions
- Possible structures: tax aspects
- Quasi equity instruments
- Listings: new trends
|
| | Ricardo Bolan, Partner, Lefosse Advogados in cooperation with Linklaters
|
10.30am | Morning coffee and networking break
|
11am | Panel discussion: exits to multinational strategic buyers versus local buyers
- Costs and benefits of approaching Brazilian buyers versus multinational buyers
- Selling back to a local partner or family group
- Given a slowing IPO market, is it a mistake to use IPO as a base case given a slowing market?
- When in the cycle are local buyers the best option, and when is it multinationals
|
| |
|
11.45am | Secondary market: is Brazil ready?
- Trading of LP interests
- Mature fund restructuring opportunities
- Captive GP spin-outs
- Family offices and deal clubs: opportunities to restructure and increase assets under management
- Mitigating the J curve
|
| |
|
12.15pm | Networking lunch
|
| SECTOR SPECIFIC OVERVIEWS |
|
1.15pm | Panel discussion: Brazil’s ambitious infrastructure agenda
- Private public partnerships
- Transportation
- Power and energy
- Water and wastewater treatment
- Oil and gas development
- Transport infrastructure
|
| | Eduardo Farhat, Principal, Head of infrastructure Brazil, Darby Stratus Administradora de Investimentos Michael Shea, Director of Business Development, Vital Renewable Energy Company Brazil
|
2pm | Panel discussion: real estate
- Opportunity: Brazil’s reputed deficit of eight million homes
- Investment opportunities created by the need for affordable housing
- Comparing commercial and residential projects
- Working with developers
- Review of recent exit strategies
|
| | Kenneth Wainer, Portfolio Manager, Vision Brazil Real Estate Opportunities Fund Bayard Lima, Chief Executive Officer, Brascan Shopping Centers
|
2.45pm | Panel discussion: Growth in agribusiness
- How is Brazil poised to profit from increased worldwide demand for food?
- Consolidation of related industries
|
| |
|
3.30pm | Afternoon refreshment break
|
| SECTOR SPECIFIC ROUNDTABLES |
Our round table discussion groups will offer you a unique opportunity to debate and discuss the topics that really matter to you and your business. These break out sessions will be facilitated by industry experts from GPs and LPs active in the Brazilian market.
|
4pm | Round table discussions
- Table 1: Power
- Table 2: Technology
- Table 3: Financial Services
- Table 4: Consumer
- Table 5: Infrastructure
|
| |
|
| SECURING FUNDING: CORPORATE AND ENTREPRENEUR PERSEPCTIVES |
|
4.45pm | Panel discussion: exploring funding needs & management teams
- Experiences in securing private equity funding
- How can private equity firms add value beyond funding?
- Evolution of Brazilian active investing market dynamics
|
| | Mario Esses, Chief Executive Officer, Disec Security Services
|
5.30pm | End of conference
|
|
Pre-conference workshop: Tuesday, December 2, 2008
|
| Creating a strategic due diligence strategy to evaluate acquisitions |
|
8.30am | Registration and welcome coffee
|
9am | Developing a clear picture of what you plan to buy
- Verifying that the company fits your portfolio criteria
- Effectively valuing assets and liabilities and cash flow
- Evaluating the company’s market position and the competitive landscape
|
| |
|
10.30am | Morning coffee and networking break
|
11am | Fundamental components of thorough due diligence
- Assessing the company’s standalone value
- Identifying tax exposures
- Identifying hidden costs
- Prioritizing tasks within due diligence
- Determining how much due diligence is needed
|
12.30pm | Networking lunch
|
2pm | Creating value for acquisitions
- Benchmarking performance improvement goals
- Developing reporting and forecasting protocol
|
3.30pm | Afternoon refreshment break
|
4pm | What needs to be done after the deal?
- Making sure that the business plan is followed
- Protecting investors interests and position
|
5.30pm | End of pre-conference workshop
|
Edson Furuiti
