unquote" nordic forum
DESCRIPTION
private equity forum brochure in the nordic regionTRANSCRIPT
PRIVATE EQUITY FORUM
NORDICPEFORUM.COM
PROGRAMMEWEDNESDAY, 15 MAY 2013,
StockholM, GrAND hotEl
NORDICMAPPING oUt oPPortUNItIES IN thENorDIc PrIVAtE EQUItY MArkEt
GOlD SpONSOR:
WElCOME
CONTACTSAttENDEES:
contact Peter on +44 (0)207 004 7464
SPoNSorS:contact Ben on
+44 (0)207 316 9751 or email
SPEAkErS:contact Nadia on
+44 (0)207 004 7417or email
“Excellent conference. the setup makes it easier to meet people, network and participate during the presentation sessions with questions” - Principal, BerchWood Partners
though the Nordic region remains a bastion of strength in Europe, economic woes elsewhere in the EU were felt in 2012. It stood in marked contrast to a stellar 2011. that was the year that saw the €10bn+ disposal of Nordic capital’s Nycomed – one of private equity’s greatest-ever exits globally. the end of the year saw EQt and hitecVision announce impressive €4.75bn and $1.5bn new funds respectively, defying tremendously difficult market conditions to surpass its target and raise their countries’ largest-ever vehicles. January of 2012 saw a confident EQt announce the on-shoring of its funds – a sign that indicated the region was set to continue down its successful path.
Alas 2012 was a different year. For all the international interest in Nordic-focused funds gave way to one of the region’s most successful brand, Nordic capital, announcing a 25% reduction in its target. the announcement defied belief, given the firm arguably had the strongest 2011 on record.
last year also saw a massive blow from the Swedish tax authority (Skatteverket). the authority had been scrutinising the industry for years before succeeding, in December, to have carried interest taxed as employment income. this is not only detrimental for private equity going forward, with tax more than doubling on carry to 56%, but is retroactive, meaning many of the region’s most prolific investors face back taxes of tens of millions.
there remain positive stories; however they now seem scattered in a difficult backdrop, rather than the norm.
unquote’s 9th annual Nordic Private Equity Forum will look at the developments in the market. International lPs will discuss their strategies for fund manager selection, while GPs will share their own stories of this generation of fundraising. unquote” is delighted to have Mark Florman, international private equity professional and cEo of the British Private Equity & Venture capital Association (BVcA) share his thoughts on
the positive externalities the industry can have on wider economics. A message crucial to shout to authorities bent on making it tougher to conduct business within the asset class.
We look forward to seeing you there.
KIMbERly ROMAINE EDItor-IN-chIEF, UNQUotE”
Jesper Knutsson, Senior Investment Manager,
Danske Private Equity
Tim Creed, Managing Director, Adveq
Gabriel Urwitz, chairman,
Segulah Advisor
Fredrik Strömholm, Partner and Founder,Altor
Christopher S. bödtker,cEo, Akina
patrik Nevsten, Partner, Northsea capita
Joachim Høegh-Krohn, cEo,
Argentum
lars Grinde, Managing Partner, Norvestor
KEYNOTE SPEAKER: MARK FlORMAN cEoBVcA
Mark is an entrepreneur, having over the past 30 years started an investment bank, a venture capital fund for Africa, businesses in media, transport (ecourier) and publishing, as well as a think tank (the centre for Social Justice) and a school and community building programme in Africa. he is cEo of the BVcA, chairman of the legacy list and Spayne lindsay and is on the board of the Early Intervention Foundation. he has been active in building partnerships between industry and policy makers for many years.
SpEAKERS
“Good mix of speakers, good venue and organisation” - Director, Jc rathbone Associates
WEl
COME
08:00 REGISTRATION AND REFREShMENTS
08:40 UNQUOTE” wElCOMING ADDRESSKimberly Romaine, Editor-in-chief, unquote”
08:50 ChAIRMAN’S OPENING REMARKS Clas Romander, Partner, Delphi
SURV
Ey 09:10 INTERACTIVE AUDIENCE SURVEY David Aversten, Partner, Delphi
KEyN
OTE
09:30 FUEllING ThE ECONOMIC RECOVERY: ThE ROlE OF PRIVATE EQUITY• long-term economic outlook• the challenges and opportunities of emerging markets• Politics and regulation• Finding new institutional investors•responsible capitalismMark Florman, cEo, BVcA
pANE
l
10:00 ThE PRIVATE EQUITY lEADERS DEbATE• Private equity’s crucial role in developing Swedish companies and Sweden’s competitiveness in the world•capital structures and new ways of financing new deals•Manager selection and investment process•Building business - the requirements of the investee• Public perception of private equity in the Nordics and the result it has on tax regulation•how unclear regulation can affect the industryMark Florman, cEo, BVcAJoachim Høegh-Krohn, cEo, Argentumlars Grinde, Managing Partner, NorvestorGabriel Urwitz, chairman, Segulah Advisor
10:40 Morning break
pANE
l
11:10 DETERMINING ThE ExIT STRATEGIES•When is the right time to seek an exit in today’s market?•key issues when preparing for a successful exit in the current market•What exits are feasible in the future• trade buyer, secondary buy-out or IPo: where do we expect the strongest demand?Helena Stjernholm, Partner, Ik Investment Partners Hans Wikse, Managing Partner, ProcuritasHarold Kaiser, Partner, litorina capital AdvisorsÅsa Riisberg, Partner, EQt Partners
pRES
ENTA
TION 11:50 REGUlATORY FOCUS
•how will European and other regulation affect the market?•Will public disquiet cause further regulatory moves?• the EU’s AIFM DirectiveSpeaker to be confirmed, please visit nordicpeforum.com for updates
CASE
STU
Dy
12:20 FUNDRAISING CASE STUDY •challenges in the Nordic market and issues faced by GPs fundraising in the last 12 months• Funds’ availability and investors’ preferences•GP strategies to raise capital from international investors •What are the most appropriate investment strategies to secure investors’ interests?Speaker to be confirmed, please visit nordicpeforum.com for updates
12:40 lunch
MORNINGhOw TO REGISTER
W: NORDICpEFORUM.COM E: [email protected] T: +44 (0)207 004 7464
“Interesting speakers and panels; Broad and interesting scope covering peripheral topics of interest... I would definitely seek to attend the next time” - corporate Financial Executive, Navigo Partners
STAT
S 13:40 FUNDRAISING STATS FROM UNQUOTE”
pRES
ENTA
TION 14:00 EVOlUTION OF TERMS AND CONDITIONS: TAIlORED FIT
•how much pressure is coming from lPs in this area•co-investment rights• lP advisory committee oversightFurther speakers to be confirmed, please visit nordicpeforum.com for updates
pRES
ENTA
TION
14:30 DEVElOPING ThE ACTIVE OwNERShIP PRACTICE•change in approach in the last five years•key steps as a new owner•Standard vs tailor making in the last five years•how to stimulate cross portfolio initiatives•key examples of a new approachFredrik Strömholm, Partner and Founder, Altor
pANE
l
14:50 RETURNS: ThE REAlITY VS ExPECTATIONS•Asset allocation – private equity vs alternatives•Actual roI vs expected return –sector breakdown•Do returns disappoint now or are they still strong?Joachim Høegh-Krohn, cEo, ArgentumFurther speakers to be confirmed, please visit nordicpeforum.com for updates
15:30 Afternoon break
pANE
l
16:00 bUSINESS MODElS TO OUTPERFORM IN EUROPEAN MID-MARKET PRIVATE EQUITY•change of value drivers in Europe and the Nordics•characteristics of successful Private Equity business models•Dos and DoN’ts to reach outperformance• Pitfalls in Nordic Private Equity organisationsChristopher S. bödtker, cEo, AkinaDr. Ralf Gleisberg, Principal, Akina
pANE
l
16:20 AllOCATION STRATEGIES AND GP-lP COMMUNICATION• lPs’ needs and expectations•What factors help to select GPs•how will GPs deliver on lPs’ return expectationspatrik Nevsten, Partner, Northsea capitalJesper Knutsson, Senior Investment Manager, Danske Private EquityTim Creed, Managing Director, Adveq
ROUN
DTAb
lES 17:00 ROUNDTAblES
•Selected speakers host roundtable discussions
17:30 Evening Reception
AFTERNOONhOw TO REGISTER
W: NORDICpEFORUM.COM E: [email protected] T: +44 (0)207 004 7464
“Panel sessions providing a thorough overview of the Nordic market and an open networking environment” - Private Equity Analyst, State Street
REGISTER NOWW: NorDIcPEForUM.coM E: [email protected]: FAx BookING ForM to: +44 (0)20 7504 3730t: cAll PEtEr oN +44 (0)207 004 7464
WHO WIll bENEFIT?heads of Private Equity GroupSenior Investment officersPension Fund ManagersAssociationslegal ExpertsFinance DirectorsManaging DirectorscEos
Managing PartnersInstitutional Investorsheads of Alternative InvestmentDirectors of Asset ManagementPlacement Agentscorporate FinanciersPortfolio ManagersFund of Fund Managers
Investment ManagersFounding PartnersSenior BankersAnalystsPartnerscFos
VENUE & ACCOMMODATIONGrand hôtelSödra Blasieholmshamnen 8P.o. Box 16424SE 103 27 StockholmSweden
reservations:Email: [email protected]: +46 (0)8 - 679 35 60Fax: +46 (0)8 - 679 35 61
UK REGISTRATIONFor European office registration, post to: conference Administration, Incisive Financial Publish-ing ltd, haymarket house, 28 – 29 haymarket, london, SW1Y 4rx, Uk
US REGISTRATIONFor US & canada office registration, post to: conference Administration, Incisive rWG Inc, 120 Broadway, 5th Floor, New York, NY 10271, USA
VISIT NORDICPEFORUM.COM FOR MORE DETAIlS
bOOKING DETAIlS
lIMITED PARTNERS ATTEND
FOR FREE*
“An excellent day for those with clients or interests in the Nordic region” - Partner, Bedell Group
SpONSORS
GOlD SpONSOR:
UNQUOTE” EVENTS 2013:
Delphi is considered one of the top private equity law fi rms in Sweden, recommended by both chambers and Partners and Plc Which lawyer.We give advice to private equity houses in buy-out and venture transactions. We also offer advice in all related matters, such as fund formation including tax, lP advice and acquisition and venture fi nance.We also offer advice on incentive programs for management.delphi.se
hoW to rEGIStEr: W: nordicpeforum.com E: [email protected] t: +44 (0)207 004 7464
CEE Private Equity ForumWarsaw, 25th April 2013ceepeforum.com
Italia Private Equity ForumMilan, November 2013italiapeforum.com
DACh Private Equity ForumMunich, october 2013dachpeforum.com
Nordic Private Equity ForumStockholm, 15th May 2013nordicpeforum.com
I ENcloSE A chEQUE PAYABlE to INCISIVE FINANCIAl PUblIShING lTD.
PlEASE DEBIt MY AMEx VISA MAStErcArD MAEStro issue number
card no expiry date security code
account address if different from above
i have read and agreed to the terms and conditions below
signature date
Incisive Finanicial Publishing ltd. VAt No: GB 756978165 For companies in EU member states only: Please write your VAt/tVA/BtW/IVA/ McMS/MWSt/FPA number here:
If you require an invoice please inform us stating whether you need an original or a fax copy. We accept company cheques, credit cards and bank transfers. Please allow a minimum of seven working days for a bank transfer to reach us and phone or fax us when it has beensent. Please state the event name and delegate name to which it relates.
pRICES Fee Save
FUll pRICE €2,449 +VAt
EARly bIRD DISCOUNT 1 ExPIrES 15th MArch 2013 €1,999 +VAt €450
EARly bIRD DISCOUNT 2 ExPIrES 5th APrIl 2013 €2,199 + VAt €250
lIMITED pARTNERS** coMPlIMENtArY
*All discounts are calculated on the full price of the event and must be qualified by Incisive Media. Discounts cannot be combined ** For the purposes of this conference we define qualifying limited Partners as pension funds, insurance companies, family offices, endowment funds, foundations and sovereign wealth funds and fund-of-funds. Fund-of-Funds must be actively investing to qualify. the person representing the limited partner must be a direct employee of the limited partner and must not work in a sales or marketing.
Please note VAt is applied at the local rate of 25%. Payment must be received before the event start date.
Disclaimer: We accept bookings on the understanding that if we cannot meet our obligations because of circumstances beyond our control, we will not be held liable for loss suffered by you or a third party. this includes (without limitation) a change in the programme or an alteration to the venue and/or speakers. Venue Rules: You must comply with all rules, regulations, and other reasonable instructions of the owner of the venue at which the event is taking place. Photography: Photography and/or recording (whether visual or aural) of the proceedings of the event without our prior written consent are strictly prohibited. Personal Effects: We are not responsible otherwise liable to you for loss or damage to your personal property while you are in attendance at the venue at which the event is taking place. liability: Except in relation to personal injury/death arising from our negligence or fraud, we shall not be liable to you for any sum greater than the amount you are liable to pay to attend the event. Cancellation/Substitution: cancellations must be received in writing more than three weeks before the event. If a cancellation is received within three weeks of the event the delegate fee will be payable in full. cancellations more than three weeks before the event are subject to a 10% administration fee. A substitute delegate is always welcome, but the organiser MUSt be notified in advance of the event to avoid incurring a charge. Delegate substitutions may Not be made at the event. If you do not attend the event or notify us of your intention to cancel, the full fee will still be payable. Payment: Payment must be received before the event start date. If we have not received payment in full by the event start date, you will be required to provide a credit card guarantee on the day to gain entry. Data Protection: By registering for unquote” Nordic Private Equity Forum, Incisive Financial Publishing limited will send you further information relating to this event. In addition we will send you information about our other relevant products and services which we believe will be of interest to you. If you do not wish to receive other relevant information from Incisive Financial Publishing limited via a particular medium, please tick the following relevant boxes: Mail ; tel ; Email Incisive Financial Publishing limited will also allow carefully selected third parties to contact you about their products and services. If you do not wish to receive information from third parties via any of the following media please check the relevant boxes: Mail ; tel ; Email
PlEASE coMPlEtE YoUr DEtAIlS BEloW INblOCK CApITAlStitle
first name last name
job title/position
department
company
address
post/zip code
country
telephone
fax
email approving manager
training manager
bOOKING FORM
REGISTRATION DETAIlS
pAyMENT DETAIlS