Day 1 | Day 2
Limited partners’ session (invitation only)
A behind-closed-doors session in which LPs can share their experiences of private markets investment – across multiple geographies, using third-party managers or going direct, and leveraging advisory relationships. Attendance is limited to investors with active alternatives programs as well as to those currently not allocating but who wish to find out more about the industry. Featuring presentations, an interactive panel, and a practical group discussion, the session will cover topics including:
- Building a diversified portfolio in the current environment
- What investors are doing to evaluate and manage risk
- What has and hasn’t worked well in terms of GP-LP communications
- Addressing concerns about critical incident reporting
- Co-investment opportunities offered versus those acted on
- Meeting the future needs of LPs in terms of team size and skills
- How ESG is playing a more important role in allocation decisions
- The implications of proposed benchmarking for superannuation funds
10:30Global outlook: Navigating the new normal
Prior to COVID-19, private equity was facing multiple challenges, ranging from geopolitical issues to elevated valuations. In 2020, the market was turned on its head, prompting managers to address problems with existing portfolios and then consider how new investment opportunities were changing. Much of this had to happen remotely. The question for 2021 is how quickly – and to what extent – there will be a return to normality. Seasoned investors discuss the market outlook.
- What are the key macro issues for private markets in 2021?
- How has the pandemic altered investment theses and practices?
- Which geographies present the most attractive opportunities?
- What must GPs do to stay competitive in the long term?
11:40Australia: Reconsidering the rebound
A rebound in deal-making is expected, following a muted 2020, but investors will pick their targets with care. The prospects for certain industries remain uncertain and it’s unclear what happens when government stimulus measures are phased out. Underwriting remains a delicate process in a post-COVID-19 world. On the other hand, there has been a resurgence in IPO activity, even as trade sales are lagging, which bodes well for distributions. Local GPs share their views.
- What are the prevailing trends in deal structuring and financing?
- Have pandemic-related portfolio challenges been properly addressed?
- Is technology the new middle-market sweet spot?
- What do Australia-China tensions mean for private equity?
13:30Family offices: Willing partners in private equity?
Long underweight on private equity, are family offices getting more of a taste for the asset class? It is a tantalizing prospect for GPs, but difficult to realize. Family offices can be useful partners – able to respond decisively to opportunities even when these run contrary to traditional investor mindsets. At the same time, they are wary of blind pool funds and often prefer direct exposure that complements their core businesses. Industry experts discuss best practices.
- What do family offices want from partnerships with GPs?
- How should managers identify and cultivate these investors?
- What sectors and strategies are most appealing?
- How are family offices evolving in terms of structure and professionalism?
15:45Tough times: Private equity fundraising in 2021
Due diligence has gone virtual, with LPs relying on deeper dives into track records, more management interviews, and input from local consultants to get comfortable making fund commitments. Even then, most investors are limiting themselves to re-ups and GPs they’ve been tracking for several years and have met in person. Never has the value of pre-fundraise engagement been so apparent. Industry experts discuss the implications of a protracted period of travel restrictions.
- Are LPs adapting their due diligence requirements?
- How has the role of advisors changed during the pandemic?
- Is deal-by-deal an effective stopgap measure for first-time managers?
- What long-term changes will there be in investor relations?
16:40Operational best practice: The post-COVID-19 world
Operational capabilities have been put to the test over the past 12 months by varying degrees of portfolio-level disruption. Most companies have negotiated the first two steps of the process: achieving stability in the face of the pandemic and positioning themselves to accelerate in its aftermath. Now there are longer term strategic issues to consider and private equity owners must offer guidance. A group of seasoned GPs discuss the operational challenges to come and how you can gain a competitive edge through new technology solutions and outsourcing.
- What do you want to see from management teams in times of difficulty?
- What are the major challenges in executing a business model pivot?
- How is the cross-border expansion opportunity set evolving?
- Five years from now, will Australian GPs have in-house operations teams?
- What internal processes can be outsourced to improve efficiencies?
Close of conference Day 1
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