PRIVATE EQUITY & VENTURE CAPITAL

Transcription

1 We can deliver this course in-house: Your company, your location, your needs Contact Jeff Hearn: +44 (0) PRIVATE EQUITY & VENTURE CAPITAL A practitioner s guide to state-of-the-art strategies and techniques London Dates: 8-9 December 2016 & June 2017 COURSE LEADER: Professor Dr Roger W. Mills Attend this incisive and highly practical two-day course and learn: The core principles and major applications of Private Equity (PE) Valuation techniques that can be applied in PE IPEV guidelines in valuing PE opportunities How PE funds are structured How to originate transactions The essential features of leveraged buyouts and how are they structured The critical importance of due diligence in private equity deals and how to structure/manage the process

2 PRIVATE EQUITY & VENTURE CAPITAL Take advantage of the opportunities lost by others It is fair to say that we have never seen such a period of rapid and dramatic change in the fortunes of private equity. After the credit crunch, buyout activity stalled and falling markets caused many to question the underlying valuations propping up fund returns. At the same time, greatly lengthening holding periods and many disappointing returns cast a shadow over the future of venture capital. Industry commentators have spoken of a massive shake-up in the industry, with anything up to 40% of firms going out of business. Will these predictions come true? Some say yes, others think that the industry may indeed undergo some dramatic changes, but will continue to operate as a major driver of potential out-performance in the portfolios of institutional investors. Training is vital in these uncertain times. This course can play a crucial role in making sure your company doesn t become a mere statistic, enabling you to take advantage of the opportunities lost by others. The need for a more disciplined approach in the future can only be met by a thorough understanding of all the theoretical and practical issues surrounding private equity investment. Whether you are a fund investor, a GP, a lawyer, an accountant, a consultant or a fund administrator, this course represents the essential knowledge to arm you properly to succeed in the new environment. This course has been carefully designed drawing from private equity expert Roger Mills experience. Featuring many practical examples, this two-day workshop consistently is the private equity course of choice for many organisations globally. Course Leader: Professor Dr Roger W. Mills Professor Dr Roger W. Mills PhD, MSc, BTech (Hons), Cert Ed, MColl, FCMA, FCIS, FCT Roger Mills is Emeritus Professor of Finance and Accounting at Henley Business School, University of Reading and he has a unique blend of academic and business experience. He has a PhD in Finance, a Masters in Management Studies (MBA) and a first degree in Psychology, Sociology and Economics. During the professional part of his career he qualified as a Chartered Management Accountant, Company Secretary and Corporate Treasurer. He is a Fellow of the Chartered Institute of Management Accountants, the Institute of Chartered Secretaries and Administrators and the Association of Corporate Treasurers. Currently, he is the CEO of his own group of companies and an advisor to a number of organisations at board level, including a Middle East bank. He has consulted to numerous companies and organisations in many countries around the World. He has worked extensively with banks and financial institutions, primarily in France, UK and Scandinavia, in corporate and investment banking (including private equity). As a private equity investor Roger was a founding member of a group that secured a successful AIM listing on the London Stock Exchange for a dotcom company in the late 1990 s. This listed company went on to acquire a number of businesses to refocus its activities before being acquired by a private equity player. Roger has written numerous articles and both authored and co-authored many books, the most recent co-written with Dr Peter Clark, Masterminding the Deal (August 2013). WHY CHOOSE IFF AS YOUR TRAINING PROVIDER? Track Record we have over 20 years experience of providing training to the banking, finance and energy sectors Relevance training courses are designed for small delegate groups which ensures you maximise the time and contact with your course director Innovation our courses are continually reviewed so you can be sure they are focusing on the most current issues Knowledge all of our trainers are highly experienced and are world leading subject matter experts in the field they teach so you can be confident you are learning from the very best Small class sizes to aid knowledge acquisition and increase your personal interaction with the trainer Value our philosophy has always been to provide a practical training experience with skills that can be used to gain a tangible return on your investment Accreditation we are accredited by the British Accreditation Council (BAC) IN-COMPANY TRAINING SOLUTIONS SAVE MONEY IMPROVE PEFORMANCE REDUCE RISK If you have four or more people to train, our in-company courses can be delivered for you anywhere in the world and are the perfect solution for you. Many organisations have realised that IFF in-company courses offer so much more than conventional courses. Here s why: We focus on providing our clients with training solutions that are specifically designed for them in order to help them address their key business challenges IFF programmes are designed by practitioners for practitioners. We equip our clients with the practical skills and knowledge they need to succeed Our international faculty of trainers are some of the world s leading experts in their chosen field. We only use the best minds in the business We ve been supporting our clients for over 20 years; you can be sure that, as such, our track record makes us the lowest risk training partner you could find By focusing on the business issues behind the training need, we can ensure that the content and focus are targeted 100% on the needs of the business Quality is critical to our success. Our reputation has been built over 20 years by delivering programmes of the highest standard. We will never compromise on our desire to ensure that our courses surpass the expectations of our clients, not meet them. IFF is the chosen in-company training provider for some of the world s leading financial institutions, so rest assured you ll be in good company. We ll also meet with you anywhere around the globe. Only by understanding our clients business issues can we hope to add substantial value. That s why we work with our clients face to face all over the world. If you would like one of our consultants to meet with you to talk about your needs in more detail or if you would simply like more information as to how you ll benefit from our in-company programmes, please contact Jeff Hearn (Managing Director) on +44 (0) or jhearn@iirltd.co.uk

3 Your comprehensive course agenda Private Equity & Venture Capital Private Equity The Context and Value Creation Introduction History What is private equity? The pros and cons of being private Credit crisis: impact and consequences on private equity Private equity investment strategies How are PE funds structured? Transaction origination Venture Capital The venture capital industry and other sources of funds for financing new ventures (including angel investors, banks and other institutions) Venture fundraising and characteristics of venture capital firms: limited partnerships corporate venture capital Characteristics of entrepreneurial ventures at different stages of development: seed start-up expansion mezzanine buyout turnaround privately owned firms newly listed firms The structure of financial contracts: staging, syndication Forms of finance: ~ debt ~ convertible debt ~ preferred equity ~ convertible preferred equity ~ common equity ~ warrants and combinations of these instruments board representation restrictive covenants and confidentiality agreements legal and institutional barriers to efficient venture capital financial contracting Exiting investments Venture capital and private equity investments in an international context Private Equity Valuation and Buy-Out Structures The private equity approach to valuation: comparison of public equity and private equity valuation importance of the exit driven perspective relation between active private equity management and valuation guidelines on private equity valuations - International Private Equity and Venture Capital Valuation (IPEV) guidelines Value creation in private equity and how do private equity firms create value? minimise purchase price maximise leverage minimise liabilities purchased manage transaction costs improve business operations maximise tax efficiency optimise exit Leveraged buyouts (LBOs): what is an LBO? typical LBO structure sources of financing review of types of buyouts: ~ management buyouts ~ management buy-ins ~ leveraged buyouts evaluating a buyout candidate financing a buyout candidate key practical issues CASE STU D Y Evaluating a buyout Sources of funds: equity debt: ~ bank debt: >revolving credit facilities >term loans >bridge financing ~ high yield bond debt mezzanine financing instruments The valuation impact of different investment structures Review

4 Watch the video here: /INCVID In-Company Training The International Faculty of Finance has been the world leader in specialist in-company training for over 20 years. We excel at designing and providing customised training solutions which meet your organisational goals, objectives and business challenges, whilst delivering an outstanding return on investment. Our international faculty of expert trainers will create the perfect programme for your needs. Our in-company courses can also save you up to 40% compared to traditional public courses, making big savings on travel costs and reduced time away from the desk. IFF delivers in-company training to clients all over the world, at all levels within an organisation across every sector of banking and finance. This is what makes us so successful in meeting the diverse needs of our clients. Not only does our reputation for quality make us different from other training organisations, but we have a passion to ensure that our courses surpass the expectations of our clients, not just meet them. Why choose IFF In-company Training? Cost Efficient Customised Content Convenient Specially Selected Trainer Free Pre-course Assessment Consistent Quality Post Course Evaluation Dedicated Account Manager Dedicated Logistics Manager Tailored Course Materials Interactive & Practical Case Studies Tailored to Specific Regions & Sectors Rest assured - that when choosing IFF not only are you making a safe decision financially and professionally we guarantee the results you need to achieve from training. When it comes to improving the skills, knowledge and performance of your team, department or organisation IFF in-company training is the ultimate solution. Contact us to discuss further: +44 (0) jhearn@iirltd.co.uk Tel: +44 (0) cs@iff-training.com 4

5 PK=RK1367 PRIVATE EQUITY & VENTURE CAPITAL Your VIP code is on the address label. If no label, please quote 5ways to register... 1 Tel: +44 (0) Fax: +44 (0) cs@iff-training.com 4 Web: 5 Mail: Customer Service Manager International Faculty of Finance KNect House Mortimer Street, London W1W 7RE A X IFF Training is accredited by the British Accreditation Council (BAC). The British Accreditation Council is recognised internationally and provides the clearest mark of educational quality and excellence. Accreditation by BAC is recognised by the UK Border Agency so the fact that IFF is BAC-accredited should help with your visa application. If you would like us to contact you with a registration form via , please tick which date you wish to register for, providing your contact details below in BLOCK CAPITALS. You can send this to us, using the contact details above. Course: 2 day IFF Private Equity & Venture Capital Venue: Central London 8-9 December 2016 (FLF3823) June 2017 (FLF3966) Full Name: Address: Phone Number: Administration Details: Cost: Including documentation, lunch & refreshments your investment in this course is 2,199 plus VAT = 2, The VAT is subject to change and may differ from the advertised rate. The amount you are charged will be determined when your invoice is raised. (Our VAT number is: ) Register by Register after 15 July July 2016 Course fee % % = = SAVE 200 PLACES CANNOT BE GUARANTEED UNTIL FULL PAYMENT HAS BEEN RECEIVED. Methods of Payment (Our VAT no is ): By Bank Transfer, Cheque or Credit Card *if you would like to pay by credit card, please register via our secure payments website at, otherwise details of alternative ways to pay will be on the invoice you receive after registration. To ensure we provide the highest level of security for your credit card details we are unable to accept such payments via or fax which ensures that these details are never stored on our network. Save money with in-house training SAVE up to 40% and improve performance with our cost-effective tailored in-house courses Contact Jeff Hearn for more details: +44 (0) jhearn@iirltd.co.uk What happens if I have to cancel? The following charges will apply for written notice received: 30 + days before the course: 10%, days before the course: 50%, 1 15 days before the course: 100% In the unfortunate event that a course is cancelled, IFF Ltd are not liable for any costs incurred by participants in connection with the course. Transfers The following charges will apply for written notice received: 30 + days before the course: free of charge; days before the course: 10%, 1 15 days before the course: 100% Data Protection The personal information shown on this form, and/or provided by you, will be held on a database and may be shared with other companies in the Informa Group in the UK and internationally. If you do not wish your details to be available to other companies in the Informa Group please contact the Database Manager at the above address, Tel +44 (0) , Fax +44 (0) or integrity@iirltd.co.uk. Occasionally your details may be obtained from, or made available to, external companies who wish to communicate with you offers related to your business activities. If you do not wish to receive these offers, please tick the box. Incorrect Mailing If you are receiving multiple mailings or you would like us to change any details or remove your name from our database, please contact the Database Manager at the above address, Tel +44 (0) , Fax +44 (0) or integrity@iirltd.co.uk quoting the reference number printed on the mailing label. International Faculty of Finance, KNect House Mortimer Street, London W1W 7RE Paper sourced from sustainable forests ElementalChlorine Free (ECF)