WORKSHOP HIGHLIGHTS

• Defining private equity
• Understanding how a private equity firm works
• Analyzing buyout and venture funds
• Examining the principles of due diligence
• Planning a fund program
• Exploring the returns you can expect

ABOUT THE WORKSHOP
With expected returns of between at least 3% and 5% above those of general equity indices, private equity has become an established asset class within institutional portfolios. The past few years has seen a significant increase in allocations to private equity funds and a growing number of investors are looking to either extend their current allocation to this asset class, or explore it for the first time. Significant returns on this asset class are possible, but only if the private equity programme is implemented and managed correctly.

09:15 Welcome and introduction

09:30 What is private equity?

• Terminology and definitions
• Direct versus Indirect
• Buyout versus venture

10:15 Private equity returns

• How a private equity fund works
• Compound and vintage year returns
• The J-curve

11:00 Morning tea and coffee

11:15 Buyouts

•  What is buyout?
• What are the return drivers?
• How can we analyse buyout funds?

12:00 Venture

• What is venture?
• What are the return drivers?
• How can we analyse venture funds?

12:45 Lunch

13:30 Due diligence

• General principles
• Specifics (1) buyout
• Specifics (2) venture
• Other: fund of funds etc

14:15  Planning a fund programme

• Cashflows and timing
• Allocation levels
• Secondaries and mezzanine
• Total return

15:00 Afternoon tea and coffee

16:15  A look at returns

• Historic buyout returns
• Fund size implications
• Historic venture returns
• The Golden Circle

17:00 Questions and wrap-up
 

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Master class objectives
The master class is aimed at helping participants appreciate the importance of carrying out due diligence when undertaking a transaction. During the course of the workshop, participants will be taken through the different types of due diligence carried out and how the findings of each impact the transaction.
 

08:30    Registration and refreshments

09:15     Welcome and introduction to the workshop    

09:30    Due diligence - why do it?

10:00    Types of due diligence

• Financial
• Legal
• Business
• Sector
• Deal

11:00    Morning tea and coffee

11:20    Integrity and reputational due diligence

• “Knowing” your partners
• Understanding reputational risk
• Establishing the integrity of the target and its principals
• Impact on transaction

13:00    Lunch

14:00     Competitor and market analysis due diligence

14:30     Insurance due diligence

• Types
• Scoping
• Findings
• Impact on the transaction

15:30    Afternoon tea and coffee

16:00    Case studies & discussion
 
17:00    Closing summary and remarks
 

About your workshop leader
Kroll, the world’s leading risk consulting company, provides a broad range of investigative, intelligence, financial, security and technology services to help clients reduce risks, solve problems and capitalize on opportunities. With offices in more than 65 cities in over 33 countries, Kroll has a multidisciplinary corps of more than 4,800 employees. Kroll is a wholly-owned subsidiary of Marsh & McLennan Companies, Inc. (NYSE: MMC), the global professional services firm. Kroll’s sister companies include Marsh, Oliver Wyman and Mercer.

Tom Everett-Heath, Managing Director, Kroll (Dubai)
Based in Dubai, Tom Everett-Heath heads Kroll’s Gulf office, which was established in 2006. He joined Kroll's Middle East Practice as a Director in early 2005, having been Editor of the Middle East Economic Digest (MEED). Tom has worked on a number of M&A deals in the region, and international cross-border transactions for a broad spectrum of regional clients.

Dominic Moody, Senior Vice President, Marsh Private Equity and M&A Practice
Dominic Moody is a Senior Vice President of Marsh, serving as a Regional Practice Leader for its Private Equity and M&A Practice in the Middle East. Prior to moving to Dubai in 2007, Dominic had responsibility for the UK Regional Hub of dedicated staff in Manchester for nine years where they provided Risk and Insurance Due Diligence services to Private Equity Firms, Banks and Corporate Clients on over 500 transactions.
 

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