Wednesday, 4 March 2020
Limited partners' session (invitation only)
In a confidential setting, hear first-hand about private market investing from your peers, many of whom have decades of experience investing in global markets and working with GPs. Attendance is open to LPs with current commitments in the alternatives space, as well as to those currently not allocating but who wish to find out more about the industry. The session includes presentations, an interactive panel with the experts, and a practical group discussion. A wide range of topics crucial to your future investment strategy will be covered, including:
- Where is the next geography and investment strategy for diversification?
- What effect will consolidation of the industry have on the ability to deploy to alternatives?
- How are the roles of advisors evolving to become important partners?
- How is speed of GP capital deployment effecting the ability to analyse performance prior to committing to a future fundraise?
- How do you gain better access to co-investment and become a value partner in addition to a provider of capital?
- What trends are LPs seeing for whole portfolio returns vs alternatives?
Registration and networking coffee break
Opening keynote address
Global alternatives: Navigating market instability
As the wait for the inevitable downturn continues, private markets remain popular with LPs, enabling managers to raise ever larger funds across multiple strategies and bespoke accounts. Understanding how and when the wave of macro issues might come to fruition and effect markets, predicting investments that are less exposed to downside risk and have growth potential, and having the skills to predict, plan, and stay ahead of the curve is paramount. Our panel examines the world in 2020 and beyond, as well as what private market managers can do to prevail in these conditions.
- What are the main threats that could damage the current buoyancy in the investment arena and are they likely to occur?
- Are we in a period of the new normal for multiples and returns, and are LPs accepting of this change?
- Where are the best bets for investments looking at a five-year hold and exit horizon?
- Has the blurring of asset classes in alternatives become less important if the return profile remains?
Australasia: Finding your place in the investment arena
Market activity has been steady over the last 12 months, especially in the mid-market where deal flow and competition has seemed less challenged than at the big end of town where deals have been harder to get across the line. The exit market is experiencing bumps, especially the IPO route for private equity, and as we brace for potential headwinds, all industry participants regardless of their position in the market must be ready to roll up their sleeves. In this session, a panel of the regions’ leading investors will debate the hot topics:
- What sectors are best before and after a downturn for resilience and distressed opportunities?
- Is buy-and-built the safe bet for capturing growth in the current climate?
- Why are we seeing a rise in public to private deals and how are these being executed?
- How are LPs viewing Australia and are GPs achieving diversification in their investor base?
Deal origination to exit: Building operational teams that deliver
In a low growth environment having the ability to generate alpha is a must. For years value creation has been an industry buzz word, and now GPs – big and small – are looking to go beyond this term and upskill their team and practices to match both LP expectations in 2019, the needs of their portfolio, and to develop their business as the private equity industry evolves. From cradle to grave, how do you expand your business to include the HR skills needed to build management teams, data science technology for portfolio monitoring, sales strategy for greater market share, and ESG, diversity, and leadership training?
- What tools can be used to enhance data gathering, analysis, and reporting?
- How do you build a cohesive team of experts, and when and how should they work?
- What does a modern private equity team look like in 2019?
- What does best practice look like and is there an industry one-size-fits-all?
Data presentation: Private equity performance update – how Australasia fares on the global stage
Networking coffee break
The big question: Specialist vs generalists
It is an age-old argument that has reared its head once again. As the private equity industry matures, and LPs become more hands-on, being able to not only justify your fund focus but also illustrate the rationale is key. On one hand the ability to come up with a series of proven actions that are repeatable in a sector, such as offshore expansion, R&D, marketing, and a salesforce that can be implemented in the same way across all investments does distil confidence in a team’s ability to operate. However, if you are looking for differentiated risk, then having the flexibility to invest in sectors that are immune to headwinds, and where valuations are more favourable, can provide an advantage. So too is having a bench of industry experts at your disposal that are ready to go to work. The experts will debate:
- What are the pros and cons of both strategies?
- How does each side approach a downturn and protect their investments?
- Does Australia have a deep enough pool of experts to call on?
- What strategy do LPs currently favour?
Meet the sector specialists roundtables
In these interactive discussions, groups will each be assigned a sector with an investment expert in this field. In an environment designed to promote sharing and networking, they will deeply examine the risks and opportunities for private market investors. Specialist roundtables will include the following:
- Financial services
Close of day 1 conference
2020 AVCJ Gala Dinner – in partnership with Australian Investment Council