INDIA SUMMIT 2012 - Venture Intelligence · 2012-09-21 · WELCOME A note from the conference...
Transcript of INDIA SUMMIT 2012 - Venture Intelligence · 2012-09-21 · WELCOME A note from the conference...
INDIA SUMMIT 20123–4 OCTOBER 2012 , THE SOFITEL MUMBAI BKC
GET THE LP PERSPECTIVE FROM:
HEAR FROM A GLOBAL PANEL OF EXPERTS INCLUDING:
Puneet Bhatia
Country Head - India, TPG Capital India
Dr Archana Hingorani
CEO and Executive Director, IL&FS Investment Managers
Vishakha Mulye
Managing Director & CEO, ICICI Venture
Sandeep Naik
Partner & Co-Head India, Apax Partners
Sanjay Nayar
CEO, KKR India Advisors Pvt. Ltd.
Dr Mukund Rajan
Managing Partner, Tata Opportunities Fund
Renuka Ramnath
Founder, Managing Director & CEO, Multiples Alternate Asset Management
Manavendra K. Sinha
Managing Partner & CEO, IDFC Project Equity
Vikram Utamsingh
Partner, Head of Private Equity, KPMG
www.peimedia.com/india12
CO-HOSTED BY:SUPPORTED BY:
Doug Coulter
Head of Private Equity, Asia Pacific, LGT Partners
Juan Delgado-Moreira
Managing Director, Hamilton Lane
Nirav Kachalia
Managing Director, Morgan Creek Capital Management
Brian Lim
Partner, Pantheon Ventures LLP
Eric Mason
Managing Director, The Church Pension Fund
Vikram Raju
Senior Global Funds Specialist Regional Team Lead Asia, IFC
WWW.PEIMEDIA.COM/INDIA12
WELCOME
A note from the conference chairman:
Please join us at our upcoming India Summit 2012, which will be held on 3-4 October at The Sofitel
Mumbai BKC.
Back for its fifth consecutive year, this important summit is now firmly positioned in the Asian private
equity calendar as the must-attend event for those with an interest in India’s private equity market.
In today’s changing economic landscape, the India Summit 2012 will have plenty to address. Besides
looking at how the industry fits in a broader domestic and international context, we will also investigate
the challenges it now faces and explore what solutions are best for this still vital asset class.
Over the last decade India’s private equity industry has seen its fair share of ups and downs. The
industry witnessed exceptional growth from 2006 to 2008, but then stumbled after the financial crisis.
It picked up pace again with a dramatic increase in total capital under management. Now, faced with a
much tougher operating environment, private equity practitioners in India are having to dig deep.
This conference is bringing together an exceptional roster of leading industry professionals, investors
and other key stakeholders to explore the many aspects of Indian private equity as it is configured
today. Whether creating and maintaining strong LP-GP relationships, staying on top of tax and
regulatory developments, executing investments and exits successfully or addressing the fact that India
has yet to deliver on the economic promise it offers, the India Summit 2012 will cover the issues that
matter with the people that matter.
So come and join the discussion as we explore solutions for this asset class that can ensure its long-
term growth. Help better clarify the changing deal environment and what it actually means to add value
to portfolio companies. Spend time with other senior practitioners helping provide the capital and
expertise that is sustaining the industry. Be part of the discourse that is defining the asset class in India.
See you in October!
Sincerely,
DAVID HAWKINS,
CO- FOUNDER
PEI
INDIA SUMMIT 2012 | 3.
SPONSORS
To discuss remaining sponsorship opportunities, please contact:
Matt Pocock, Business Development Manager - Asia
T : +852 2153 3142 E : [email protected]
Lead Sponsors
Co Sponsors
Co HostBrought to you by Supported by
Lunch Sponsor
Associate Sponsor Masterclass Sponsor
Supporting Partner Online Media Partner
WWW.PEIMEDIA.COM/INDIA12
Feature Presentation
Juan Delgado-Moreira of Hamilton Lane will be doing a feature presentation on what larger LPs look for when investing in India.
On-stage LP interview
It’s not all bad for GPs who are currently fundraising. Our LP interview will focus on LPs currently interested in investing in India during the downturn. Why is this the right time to invest in India?
Operational value-add and brand building in India
How do GPs add value to their portfolio? Putting money aside, what are the ways GPs connect to and more importantly help grow their portfolio companies? How do they help build a brand that will go somewhere.
A successful deal from start to finish
A presentation of a successful deal from a prominent fund manager - from deal sourcing to the actual exit. This GP will talk about all the ups and downs when it comes to investing in an Indian company.
Data session
Cambridge Associates will present an analytical data session on Indian private equity.
An education on risk management and due diligence
This year’s Masterclass will be conducted by Kroll Advisory Solutions, which will be a two hour session to help the private equity community better understand the importance of detecting fraud and investigative due diligence.
PROGRAMME HIGHLIGHTS
“PEI manages consistently to both provoke and inform, and the
conferences leave you chewing on new ideas and changing
landscapes, which lead you to make practical adjustments
to your business model. Therein lies the true worth of PEI: in
challenging and persuading you to think differently about your
business.”
Ajay Relan, Founder & Managing Partner, CX Partners
INDIA SUMMIT 2012 | 5.
TOP REASONS TO ATTEND THE INDIA SUMMIT 2012
Who will attend?
Private equity fund managers
LPs: sovereign wealth funds, endowment funds, investment firms, family offices, fund of funds and pension funds
Banks, financial institutions and legal advisors
Government officials
Other service providers
1 India’s largest and most reputable private equity event
The only event in India co-hosted with the IVCA, this is the largest and most influential conference for Indian private equity practitioners and global investors.
2 Dynamic speakers
The India Summit 2012 will deliver an unmatched blend of
domestic and international private equity investors with some
surprise guests. Our conference agendas draw on our deep
industry affiliation and journalistic values to provide insight and
industry contacts that our competitors cannot match.
3 Leading LPs
Our industry affiliations will enable us to bring leading LPs to the table. The Summit’s agenda has been developed in consultation with leading LPs in global private equity, with a special interest in India.
4 Understanding the Indian landscape
The 2012 Summit will discuss all aspects of the investment landscape in India, including operational value-add and building a brand, exit options, understanding the tax regulations, secondary markets or even opportunities beyond equity.
5 Exploring solutions
The India Summit 2012 will focus on exploring solutions for critical issues that have recently challenged this asset class.
WWW.PEIMEDIA.COM/INDIA12
LEARN FROM OVER 60 LEADING EXPERTS
VISIT WWW.PEIMEDIA.COM/INDIA12 FOR FULL SPEAKER LINE-UP
Anil Ahuja
Head of Asia, 3i Asia Limited
Karthik Athreya
Director, Clearwater Capital Partners
Arjun Bawa
Vice President, Private Funds Group, PineBridge Investments
Nick Benson
Corporate Partner, Private Funds, Weil, Gotshal & Manges
Mintoo Bhandari
Managing Partner, AION Capital Partners, Apollo Global Management
Puneet Bhatia
Country Head - India, TPG Capital India
Philip Borel
Editorial Director, PEI Media
Doug Coulter
Head of Private Equity, Asia Pacific, LGT Capital Partners
Juan Delgado-Moreira
Managing Director and Head of International, Hamilton Lane
Cyrus Driver
Managing Director - Private Equity, Partners Group
Alok Gupta
Managing Director - India, Partner, Headland Capital Partners (India) Pvt. Ltd.
Amit Gupta
Partner, NewQuest Capital Partners
Pavan A. Gupte
Chief Strategy Officer, CVCI Private Equity
Dr Archana Hingorani
CEO and Executive Director, IL&FS Investment Managers
Nirav Kachalia
Managing Director, Morgan Creek Capital Management
Manish Kejriwal
Managing Partner, Kedaara Capital Advisors LLP
Rehan Yar Khan
General Partner, Orios Venture Partners
Reshmi Khurana
Head of India, Kroll Advisory Solutions
Gulpreet Kohli
Managing Director, ChrysCapital Investment Advisors
BV Krishnan
Director, KKR India Advisors
Frewen Lam
Senior Vice President, Private Markets, Macquarie Investments Managements, Macquarie Group
Brian Lim
Partner, Pantheon Ventures (HK) LLP
Shyam Maheshwari
Partner, SSG Capital Management
Pravan Malhotra
Clean Technology Investments, IFC
Eric Mason
Managing Director, The Church Pension Fund
Raghubir Menon
Partner, Amarchand Mangaldas
Sunil Mishra
Partner, Adams Street Partners
INDIA SUMMIT 2012 | 7.
Ayaz Motiwala Senior Vice President, Samena Capital
Vishakha Mulye Managing Director & CEO, ICICI Venture Funds Management
Sandeep Naik Partner & Co-Head India, Apax Partners
Sanjay Nayar CEO, KKR India Advisors
Prakash Nene CFO, Multiples Alternate Asset Management
Viswanathan Parameswar Vice President, Adveq Management AG
Vaibhav Parikh Bangalore head, Nishith Desai Associates
Christopher Petersen Managing Director - Asia, PEI Media
Prashant Purker Executive Director & Co-Head, Private Equity, ICICI Venture
Vijai Raghavan Senior Director, Alvarez & Marsal India
Dr. Mukund Rajan Managing Partner, Tata Opportunities Fund
Vikram Raju Senior Global Funds Specialist and Regional Lead – Asia, IFC
Renuka Ramnath Founder, Managing Director & CEO, Multiples Alternate Asset Management
Lachminiwas (LN) Sadani Managing Director Chief Investment Officer - AFD, Nomura Group
Punit Shah Partner, Tax and Regulatory services, KPMG
Siddharth Shah Principal and Head - Fund Formation, Nishith Desai Associates
Shardul Shroff Managing Partner, Amarchand Mangaldas
Manavendra K. Sinha Managing Partner & CEO, IDFC Alternatives
Balaji Srinivas Partner and Regional Fund Manager - South Asia, Aureos India Advisers
Gopal Srinivasan Chairman & Managing Director, TVS Capital Funds Limited
S. Sriniwasan CEO- Kotak Realty Fund & Director-Kotak Investment Advisors Limited, Kotak Investment Advisors
Anand Sunderji Regional Representative (India), Paul Capital
Mahendra Swarup President, IVCA
Wen Tan Managing Director, Squadron Capital
Vikram Utamsingh Partner, Head of Private Equity, KPMG
Anouk Van Der Boor Managing Director, Cambridge Associates
WWW.PEIMEDIA.COM/INDIA12
AGENDA
Back for its fifth year, the India Summit 2012 is the must attend Indian private equity event, which will focus on exploring solutions for critical issues that have challenged this asset class.
Day One: Wednesday 3rd October
0830 Registration & coffee
0915 Chairman’s welcome
0930 The light at the end of the tunnel
India PE over the past decade / the evolution of the Indian PE industry and where does it go from here
The PE landscape isn’t as bad as the press may portray, there are some positives
Understanding LPs’ fears and helping them better understand the Indian market
India still has a relatively strong domestic demand driven economy, how can the industry work that to their advantage?
How does investing in Indian PE differ from other regions?
What is the government doing to attract foreign capital?
Moderator
Renuka Ramnath, Founder, Managing Director & CEO, Multiples Alternate Asset Management
Speakers
Archana Hingorani, CEO & Executive Director, IL&FS Investment Managers Limited
Nirav Kachalia, Managing Director, Morgan Creek Capital Management
Sanjay Nayar, CEO, KKR India Advisors
Vikram Raju, Senior Global Funds Specialist and Regional Lead – Asia, IFC
1015 The future of ‘2006-2008’ vintage funds
Eager GPs during the 2006-2008 bull market are now sitting on portfolios of less than 1.5x and are now facing fundraising challenges.
How are GPs evolving their investment strategy to identify and execute successful private equity transactions?
What are the biggest issues in fundraising?
What does the next decade of PE hold in store for India?
Moderator
LN Sadani, Managing Director Chief Investment Officer - AFD, Nomura Group
Speakers
Pavan Gupte, Chief Strategy Officer, CVCI – Private Equity
Sunil Mishra, Partner, Adams Street Partners
Wen Tan, Managing Director, Squadron Capital
1100 Coffee break
1130 Where are the returns? How patient does ‘patient capital’ need to be?
Funds are facing tough times and the question on everybody’s mind is ‘why haven’t we seen any money yet?’
How India is measuring up to expectations
Why are funds finding it so hard to exit their investments and show realisations?
What are GPs doing wrong with their portfolios?
Track records
Moderator
Vikram Utamsingh, Partner & Head of Private Equity, KPMG
Speakers
Doug Coulter, Head of Private Equity, Asia Pacific, LGT Capital Partners
Brian Lim, Partner, Pantheon Ventures LLP
Vishakha Mulye, Managing Director & CEO, ICICI Venture Funds Management
M.K. Sinha, Managing Partner & CEO, IDFC Alternatives
1215 Feature presentation
What do larger LPs look for when investing in India?
Speakers
Juan Delgado-Moreira, Managing Director, Hamilton Lane
1300 Lunch hosted by:
1415 Breakout session I
A: Legal aspects of private equity
Trends in fund structures
GAAR
Uncertainty of retrospective taxation
AIF guidelines
Adding put options to investment contracts
Moderator
Siddharth Shah, Partner & Head of Funds Practice, Nishith Desai
Speakers
Nick Benson, Corporate Partner, Weil, Gotshal & Manges
Prakash Nene, CFO, Multiples Alternate Asset Management
Punit Shah, Partner - Tax & Regulatory Services, KPMG
B: The importance of the secondary market
Sale of LP interests
Sale of direct interest
How do you bridge the information gap between the buyer and seller
Speakers
Amit Gupta, Partner, NewQuest Capital Partners
Anand Sunderji, Regional Representative - India, Paul Capital
Frewen Lam, Senior Vice President, Private Markets - Macquarie Investments Managements, Macquarie Group
INDIA SUMMIT 2012 | 9.
VISIT WWW.PEIMEDIA.COM/INDIA12 FOR THE LATEST AGENDA
1500 Breakout session II
A: The rise of domestic capital
International LP interest in investing in India is wavering, but what about the Indian sources of capital GPs can tap into?
What are these domestic capital sources?
Where and how does one approach these sources?
How sustainable and long term is Indian non-institutional capital?
Indian family offices
Moderator
Gopal Srinivasan, CEO & Executive Director, TVS Capital Funds
B: Operational value-add
How do PE funds add value?
Getting into the operational side of portfolio companies
Do family run businesses make it harder?
How much operational control is the right amount?
Moderator
Reshmi Khurana, Head of India, Kroll Advisory Solutions
Speakers
Ayaz Motiwala, Senior Vice President, Samena Capital
Vijai Raghavan, Senior Director, Alvarez & Marsal India
Jaspal Singh Sabharwal, Partner – Private Equity, Everstone Capital
1545 Coffee Break
1545 Breakout session III
A: An IPO isn’t the only exit option
What are the alternative exit methods
Understanding the secondary sale process
Positioning an asset for a strategic buyer
Trade sales
Moderator
Viswanathan Parameswar, Vice President, Adveq Management AG
Speakers
Raghubir Menon, Partner, Amarchand Mangaldas
Prashant Purker, Executive Director & Co-Head, Private Equity, ICICI Venture
B: Opportunities beyond equity
Are Indian PE Firms suited to become alternative credit providers?
Who else is competing in the NBFC space
How large is the opportunity set
Speakers
B.V. Krishnan, Director-Capital Markets, KKR India Advisors
S. Sriniwasan, CEO-Kotak Realty Fund & Director-Kotak Investment Advisors Limited, Kotak Investment Advisors Limited
1645 Meet your match: The LP dating game
Three eligible GPs will vie for the attention of a “bachelorette” LP. Will there be a connection? Who will triumph and secure a commitment?
Master of Ceremonies/Cupid
Eric Mason, Managing Director – Asia Investments, Church Pension Fund
Bachelorette LP
TBA
Contestants
Mr A Mr B Mr C
1715 Cocktail reception
Day Two: Thursday 4th October
0745 LP Breakfast: By invitation ONLY
0845 Chairman’s recap
0900 Stories from the front line: Fund investments through their life cycle
A presentation of a successful deal from a fund manager
Deal sourcing
Due diligence
Investing
Operational value add
Exit options
Speaker
Puneet Bhatia, Country Head - India, TPG Capital India
0945 Special situations in India
Refinancing and restructuring
Corporate Restructuring and Repairing Balance Sheets
De-Leveraging and Restructuring Leveraged Deals
Moderator
Karthik Athreya, Director, Clearwater Capital Partners
Speakers
Mintoo Bhandari, Managing Partner, AION Capital Partners,
Apollo Global Management
WWW.PEIMEDIA.COM/INDIA12
Shyam Maheshwari, Partner, SSG Capital Management
Shardul Shroff, Managing Partner, Amarchand Mangaldas
1030 Coffee break
1100 GP spotlight: fundraising in turbulent times
These have been trying times for fundraising, and funds
raised are only a fraction of what they were prior to 2008.
Many funds have had to go on hiatus or even close down.
However there are still a few GPs (new and old) that have
managed to attract key LP interest.
How did successful GPs attract LP attention and interest?
How have LP-GP terms evolved as a result of this more
challenging environment?
Is the old order changing?
What are funds doing to stay relevant?
What are you doing to prove to LPs you can make it
through this rough patch?
Moderator
Dr Mukund Rajan, Managing Partner, Tata Opportunities
Fund
Speakers
Manish Kejriwal, Managing Partner, Kedaara Capital
Advisors
Gulpreet Kohli, Managing Director, ChrysCapital
Investment Advisors
Balaji Srinivas, Partner and Regional Fund Manager - South
Asia, Aureos India Advisors
Sandeep Naik, Partner & Co-Head India, Apax Partners
1145 The Big Debate
This house believes the Indian private equity
industry has failed.
Audience will vote on the debate winner
Moderator
Christopher Petersen, Managing Director – Asia, PEI
For the motion
Anil Ahuja, Head of Asia, 3i Asia
Against the motion
Cyrus Driver, Managing Director – Private Equity, Partners
Group
1215 Data points in Indian PE
Speaker
Anouk Van Der Boor, Managing Director, Cambridge
Associates
1245 From PE to VC
Entrepreneurs continue to persevere across a variety of
sectors in India. Innovation and recent successes in VC have
created a highly competitive environment for GPs looking to
invest.
Is VC simply just a fad?
What are the hottest industries?
Finding the entrepreneurs
Looking at early-growth stage versus seed stage
investments
Moderator
Mahendra Swarup, President, IVCA
Speakers
Alok Gupta, Managing Director, India, Headland Capital
Partners (India) Pvt. Ltd.
Pravan Malhotra, Clean Technology Investments, IFC
Rehan Yar Khan, General Partner, Orios Venture Partners
1315 Lunch
1415 Masterclass: Risk management & investigative due diligence
(Pre-registration is required. Attendance is at no extra cost for
eligible conference delegates, as determined by PEI)
1615 Close of conference
** This is a provisional agenda and remains subject to change
at the discretion of the organisers
PEI has organized a fantastic event enabling APAC wide networking among leading LPs and GPs and Intel Capital is delighted to be part of the event. The insights offered by expert panellists goes a long way in keeping the attendees abreast with the latest trends in the VC/PE space.
Sudheer KuppamManaging Director, Intel Capital
INDIA SUMMIT 2012 | 11.
Regional breakdown of delegates at the 2011 summit
India ........................... 75%
Singapore ................... 8%
Hong Kong ................. 6%
United Kingdom ........ 5%
United States ............. 4%
United Arab Emirates .. 2%
Job titles
DELEGATE BREAKDOWN
INDIA SUMMIT 2011
Some of the 300+ companies that attended last year’s event:
PEI have differentiated themselves through the quality of
the content of their conferences in Asia, bringing a fresh
approach to the Asian private equity conference circuit.
Hugh Dyus, Head of Asian Private Equity, Macquarie
Funds Group
Co-founder, Managing Partner, Managing Director .....................35%
Vice President, Associate ................. 31%
Director ..................... 19%
Partners ...................... 9%
CEO ............................. 6%
WWW.PEIMEDIA.COM/INDIA12
A number of surveys suggest that India is under greater scrutiny because of the
increased amount of fraudulent activity making headlines this past year – from the
private equity industry to the country’s own government. These corruption scandals
have tainted India’s image globally. This year’s Masterclass is aimed at helping
investment and operational professionals access and manage risks as well as
understand the benefits and necessity of investigative due diligence.
ACCESSING THE RISK OF FRAUD IN YOUR PORTFOLIO COMPANIES
Top fraud risks and how they are usually detected
Which departments and functions are the most vulnerable to fraud
Develop an information gathering, evaluating and monitoring process to access
risk on an on-going basis
REDUCING THE RISK OF FRAUD IN YOUR PORTFOLIO COMPANIES
Pre-requisites of an anti-fraud program
Policies and training
Whilstleblowing
Management accountability
CONDUCTING INVESTIGATIVE DUE DILIGENCE WHEN YOU SUSPECT FRAUD
Dealing with fraud allegations
The investigation process from start to finish
WHAT YOU WILL LEARN:
Lead trainer: Reshmi Khurana, Head of India, Kroll Advisory Solutions
Reshmi Khurana is the India Head
for Kroll Advisory Solutions.
She has more than ten years of
experience conducting pre-
transaction due diligence on the
management, operations and
business models of organizations
for M&A transactions ranging from
$20-30 billion. Her clients include
asset management companies,
corporations in the mining, oil &
gas, consumer packaged goods
and pharmaceutical industries and
law firms.
Reshmi joined Kroll as a director
in 2003, working in the New
York office first before moving
to Kroll Singapore in 2009. She
joined Kroll Mumbai office in
2011. Prior to joining Kroll, Reshmi
was a consultant with McKinsey
& Company in India. Reshmi
graduated with a Bachelor in
Economics from the University of
Delhi and a Masters in Economics
from the London School of
Economics and Political Science.
Masterclass Sponsor
There is a cap on the number of attendees the masterclass can accommodate
so register early with [email protected] or call +852 2153 3240
MASTERCLASS:
RISK MANAGEMENT & INVESTIGATIVE DUE DILIGENCE
Pre-registration is required. Attendance is at no extra cost for eligible conference delegates, as
determined by PEI.
INDIA SUMMIT 2012 | 13.
SUPPORTED BY:
ABOUT PE ASIA
Positioned at the heart of the Asian private equity markets,
PE Asia is trusted to authoritative coverage throughout Asia. We equip you with the numbers, the knowledge and
the network to think and to act. To us, it’s much more than providing content: it’s about delivering information
that makes a difference.
PE Asia: for the Asian private equity markets
IVCAIndian Private Equity and Venture Capital Association (IVCA) is a member based national organization that
represents venture capital and private equity firms, promotes the industry within India and throughout the world and
encourages investment in high growth companies. IVCA’s vision is to create an environment conducive to promoting
entrepreneurship and encouraging the growth of private equity and venture capital in India. To serve as a catalyst for
the creation of a large pool of domestic venture capital and support the emergence of new categories of investors,
VC firms and later-stage private equity firms – to assist Indian companies with growth.
IVCA members comprise venture capital and private equity firms, institutional investors, banks, incubators, angel
groups, corporate advisors, accountants, lawyers, government bodies, academic institutions and other service
providers to the venture capital and private equity industry.
Members represent most of the active venture capital and private equity firms in India. These firms provide capital for seed ventures, early stage
companies, later stage expansion, and growth finance for management buyouts/buy-ins of established companies.
VENUE
The Sofitel Mumbai BKC
C-57, Bandra Kurla Complex , Bandra (East) ,
Maharashtra, 400 051 Mumbai, India
Sofitel Mumbai BKC is located in the geographic centre of the city, in the commer-
cial and financial district known as Bandra Kurla Complex. It offers easy access to
both the international and domestic terminals of Mumbai’s Chhatrapati Interna-
tional Airport, the main attractions in the city and the Eastern and Western Express
Highways. A glistening beacon of sophistication, grandeur and French art de
recevoir, Sofitel Mumbai BKC exudes modern luxe, offering unrivalled facilities as
well as a premium address.
Please email [email protected] to find
out more on PEI’s discounted group rate.
Phone +852 2153 3240
Email [email protected]
Online www.peimedia.com/india12
3 Easy Ways to Book Group discounts are available please contact Iris Mui.