Investing in Private Equity

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Course Description

You may be interested in our open public course on Investment Performance Measurement in London on 17 of October.

This intensive 2 day workshop has been designed for Asset and Fund Managers, Family Offices, Private Banks, Institutional Investors and Private Investors to help understand the latest trends in Private Equity sector and characteristics of this asset class.

You will have a chance to explore:

  • Recent trends and future outlook for private equity sector
  • Private equity as an asset class and its associated risk and return profile
  • Comparing private equity with other asset classes
  • The latest trends in the private equity sector
  • Strategies to incorporate private equity in an investment portfolio
  • Selection of private equity funds
  • Timing and executing exit strategies
  • Private equity in the Middle East, Asia and emerging markets

What Will You Learn

By the end of this training you will:

  • Understand the nature and characteristics of private equity as an asset class
  • Gain all the tools to analyse and implement private equity in an investment portfolio
  • Understand due diligence process as well as risk management and portfolio measurement techniques
  • Assess different ways of obtaining exposure to this asset class
  • Learn how to achieve diversification
  • Explore current market trends

Main Topics Covered During This Training

  • Defining private equity as an asset class
  • Stages and types of investments
  • Recent trends in private equity sector worldwide
  • Comparing private equity with other asset classes
  • Practicalities of constructing private equity portfolio: allocation, diversification and implementing the strategy
  • Risk management for private equity
  • The best ways of gaining exposure to private equity
  • Due diligence process
  • Portfolio measurement and management
  • The process of private equity manager selection
  • Private equity in the Middle East
  • Current trends in private equity in Asia
  • Practical workshop on evaluation of private equity investment
     

Who Should Attend

From Asset and Fund Management, Family Offices, Private Banks and Institutional Investors heads and group members involved in:

  • Private Equity
  • Alternative Investments
  • Portfolio Management
  • Fund Management
  • Analysts
  • Private Investors
  • Lawyers
  • Consultants
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Introduction to Private Equity

  • Defining Private Equity
  • Various Types of Private Equity Sub-Classes: (venture capital, growth stage, leverage buyouts, mezzanine, bridge financing, etc.)
  • History of Private Equity Industry
  • Recent Trends in Private Equity – what we learned from the current global recession
  • Private Equity Trends in the Middle East
  • Future of Private Equity

 
Case Study: KKR: Evolution from a novel idea to an industry leader
 

Private Equity - an Asset Class

  • Various asset classes, their respective risk vs. return profiles and historical returns (Equities, Fixed Income, Commodities, Real Estate, Money Markets, Precious Metals, Hedge Funds, Private Equity, etc.)
  • Pros and cons: Private Equity vs. Public Equity, Real Estate, Hedge Funds and Commodities Portfolios
  • Private Equity performance against public markets and other asset classes
  • Correlation between Private and Public Equity
  • Portfolio diversification – combining private equity with conventional asset classes
  • Hidden risks and mitigating factors in Private Equity
  • How Private Equity fit in various asset allocation styles. Active vs. passive mgmt. Local vs. Global allocation, etc.
  • Avoiding apple vs. oranges mind set. How to effectively compare private equity returns with returns in other asset classes
  • Liquidity: Private Equity is more liquid then you think
  • The role of Private Equity secondary market and its impact on asset allocation
  • Asset allocation strategies for Middle Eastern asset managers

Case Study: Yale University Endowment Fund: A Pioneer in Private Equity Asset Allocation

Emerging Trends in Private Equity Manager Selection

  • How the current global economic crises changed the fund selection criteria
  • Demanding co-investment rights
  • Active participation with Manager in investment process of the fund
  • Pre-emptive rights to sell in secondary markets


Private Equity in the Middle East
 

  • Relative performance of Middle East based Private Equity funds
  • Should you prefer regional private equity funds?
  • How to pick leaders in this consolidating industry
  • How Middle Eastern Private Equity funds differ from their US and EU counterparts


Different Ways to Gain Exposure to Private Equity

  • Investing directly in funds
  • Investing in Fund of funds
  • Investment in secondary market portfolios
  • Investing in publicly traded private equity funds


Case Study: How Calpers, one the largest asset manager, choose private equity managers


Understanding Risks in Private Equity Asset Class

  • “Black Box” or “Blind Pool” risk
  • Liquidity challenges
  • Long-term commitment
  • Vague correlation with equity market and macro-level economic indicators
  • Changing regulatory environment
  • Perceived “social” stigma



Evaluating Private Equity investment fund managers

  • Evaluating track record
  • Due diligence of general partners
  • Evaluating investment process
  • Quality, quantity and sources of deal flow
  • Efficiency measures of fund’s operating structure
  • Post-investment value addition strategy and process
  • Effectiveness in creating exit opportunities
  • Evaluating fees and incentives



Private Equity Portfolio Constructing

  • Defining the big picture and setting goals for your overall asset allocation strategy
  • Determine allocation size for private equity
  • Managing Diversification in your private equity portfolio: regional funds vs. global funds, Venture capital vs. buyouts, industry specific funds vs. general funds, small funds vs. mega funds
  • Managing Liquidity in your private equity portfolio: How to schedule commitments, capital calls, fees and exits to maximize liquidity and returns


The Art of Due Diligence in Picking Funds

  • A critical loo at IRR data
  • Manager’s track record and investing strategies
  • Manager’s deal sourcing ability
  • Fund’s post-investment value adding strategies to its portfolio companies
  • Fund’s ability to create and utilize effective exit opportunities
  • Large vs. small funds and impact on returns
  • Generalist vs. industry specific funds and impact on returns
  • Various fee structures and how to avoid hidden fee pitfalls
  • Manager’s relationship with limited partners
  • Comparing various fund structures and off-shore setups


Case Study:
How Calpers, one the largest asset manager, choose private equity managers


Performance Measurement & Monitoring

  • Developing a holistic performance measuring criteria
  • Periodic performance measurement matrix
  • How to avoid pitfalls in “mark to market” valuation of manager’s portfolio of investments
  • Benchmarking your managers performance against the right industry indices
  • Recourse against managers with bad performance

Qayyum has over 13 years of investment banking and private equity experience. He is currently working as a senior vice president in GCC based private equity fund in an investment bank in oil and gas industry. His role there is to source, evaluate and invest in private equity and execute M&A and joint venture opportunities in oil and gas industries in the Middle East region. Prior to this, Qayyum was a principal at Odeon Capital Partners, a $120 million private equity fund based in New York City and before in Bear Stearns' Mergers & Acquisitions and Leveraged Finance investment banking groups in New York where he was involved with multi-billion dollar transactions in retail, consumer products, technology and manufacturing industries.

While he was living in New York City from year 2000 through 2008, Qayyum was involved in many teaching and training engagements at university and corporate level. He was a guest speaker at New York University's Stern School of Business as well as taught a full-term MBA course at the Long Island University. His teaching experience include workshops at New York Private Equity Network the association which has over 500 active members.

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Investing in Private Equity <h3><strong>You may be interested in our open public course on</strong><strong><a href="http://www.eurekafinancial.com/courses/performance_measurement.html"> Investment Performance Measurement in London on </a>17 of October</strong><strong>.</strong></h3> <p>This intensive 2 day workshop has been designed for Asset and Fund Managers, Family Offices, Private Banks, Institutional Investors and Priva ... In-Company