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PROGRAMME

NORDIC

WEDNESDAY, 15 MAY 2013, Stockholm, Grand Hotel

PRIVATE EQUITY FORUM MAPPING OUT OPPORTUNITIES IN THE NORDIC PRIVATE EQUITY MARKET

NORDICPEFORUM.COM


WELCOME Though the Nordic region remains a bastion of strength in Europe, economic woes elsewhere in the EU were felt in 2012. It stood in marked contrast to a stellar 2011. That was the year that saw the €10bn+ disposal of Nordic Capital’s Nycomed – one of private equity’s greatestever exits globally. The end of the year saw EQT and HitecVision announce impressive €4.75bn and $1.5bn new funds respectively, defying tremendously difficult market conditions to surpass its target and raise their countries’ largest-ever vehicles. January of 2012 saw a confident EQT announce the on-shoring of its funds – a sign that indicated the region was set to continue down its successful path. Alas 2012 was a different year. For all the international interest in Nordic-focused funds gave way to one of the region’s most successful brand, Nordic Capital, announcing a 25% reduction in its target. The announcement defied belief, given the firm arguably had the strongest 2011 on record. Last year also saw a massive blow from the Swedish tax authority (Skatteverket). The authority had been scrutinising the industry for years before succeeding, in December, to have carried interest taxed as employment income. This is not only detrimental for private equity going forward, with tax more than doubling on carry to 56%, but is retroactive, meaning many of the region’s most prolific investors face back taxes of tens of millions. There remain positive stories; however they now seem scattered in a difficult backdrop, rather than the norm. unquote’s 9th annual Nordic Private Equity Forum will look at the developments in the market. International LPs will discuss their strategies for fund manager selection, while GPs will share their own stories of this generation of fundraising. unquote” is delighted to have Mark Florman, international private equity professional and CEO of the British Private Equity & Venture Capital Association (BVCA) share his thoughts on

the positive externalities the industry can have on wider economics. A message crucial to shout to authorities bent on making it tougher to conduct business within the asset class. We look forward to seeing you there.

Kimberly Romaine

Editor-in-Chief, unquote”

Gold Sponsor:

CONTACTS Attendees: Contact Peter on +44 (0)207 004 7464 or email conference.delegates@incisivemedia.com Sponsors: Contact Ben on +44 (0)207 316 9751 or email ben.cronin@incisivemedia.com Speakers: Contact Nadia on +44 (0)207 004 7417 or email nadia.bir@incisivemedia.com

“Excellent conference. The setup makes it easier to meet people, network and participate during the presentation sessions with questions” - Principal, BerchWood Partners


Speakers Keynote Speaker:

Mark Florman CEO BVCA

Mark is an entrepreneur, having over the past 30 years started an investment bank, a venture capital fund for Africa, businesses in media, transport (eCourier) and publishing, as well as a think tank (the Centre for Social Justice) and a school and community building programme in Africa.  He is CEO of the BVCA, Chairman of the Legacy List and Spayne Lindsay and is on the board of the Early Intervention Foundation.  He has been active in building partnerships between industry and policy makers for many years.

Joachim Høegh-Krohn,

Lars Grinde,

CEO, Argentum

Managing Partner, Norvestor

Gabriel Urwitz,

Fredrik Strömholm,

Chairman, Segulah Advisor

Christopher S. Bödtker,

CEO, Akina

Jesper Knutsson,

Senior Investment Manager, Danske Private Equity

Partner and Founder, Altor

Patrik Nevsten,

Partner, Northsea Capita

Tim Creed,

Managing Director, Adveq

“Good mix of speakers, good venue and organisation” - Director, JC Rathbone Associates


MORNING

HOW TO REGISTER W: NORDICpeForum.com E: conference.delegates@incisivemedia.com T: +44 (0)207 004 7464

WELCOME

08:40 unquote” welcoming address Kimberly Romaine, Editor-in-Chief, unquote”

SURVEY

09:10 INTERACTIVE AUDIENCE SURVEY David Aversten, Partner, Delphi

KEYNOTE

09:30 Fuelling the economic recovery: the role of private equity • Long-term economic outlook • The challenges and opportunities of emerging markets • Politics and regulation • Finding new institutional investors • Responsible capitalism Mark Florman, CEO, BVCA

PANEL

08:00 Registration and refreshments

10:00 The Private Equity Leaders Debate • Private equity’s crucial role in developing Swedish companies and Sweden’s competitiveness in the world • Capital structures and new ways of financing new deals • Manager selection and investment process • Building business - the requirements of the investee • Public perception of private equity in the Nordics and the result it has on tax regulation • How unclear regulation can affect the industry Mark Florman, CEO, BVCA Joachim Høegh-Krohn, CEO, Argentum Lars Grinde, Managing Partner, Norvestor Gabriel Urwitz, Chairman, Segulah Advisor

08:50 Chairman’s opening remarks Clas Romander, Partner, Delphi

10:40 Morning break Determining the exit strategies

PRESENTATION

• When is the right time to seek an exit in today’s market? • Key issues when preparing for a successful exit in the current market • What exits are feasible in the future • Trade buyer, secondary buy-out or IPO: where do we expect the strongest demand? Helena Stjernholm, Partner, IK Investment Partners Hans Wikse, Managing Partner, Procuritas Harold Kaiser, Partner, Litorina Capital Advisors Åsa Riisberg, Partner, EQT Partners

11:50 REGULATORY FOCUS • How will European and other regulation affect the market? • Will public disquiet cause further regulatory moves? • The EU’s AIFM Directive Speaker to be confirmed, please visit nordicpeforum.com for updates

CASE STUDY

PANEL

11:10

12:20 FUNDRAISING CASE STUDY • Challenges in the Nordic market and issues faced by GPs fundraising in the last 12 months • Funds’ availability and investors’ preferences • GP strategies to raise capital from international investors • What are the most appropriate investment strategies to secure investors’ interests? Speaker to be confirmed, please visit nordicpeforum.com for updates 12:40 Lunch

“Interesting speakers and panels; Broad and interesting scope covering peripheral topics of interest... I would definitely seek to attend the next time” - Corporate Financial Executive, Navigo Partners


HOW TO REGISTER

PRESENTATION

14:00 Evolution of terms and conditions: Tailored fit • How much pressure is coming from LPs in this area • Co-investment rights • LP advisory committee oversight Further speakers to be confirmed, please visit nordicpeforum.com for updates

PRESENTATION

14:30 Developing the active ownership practice • Change in approach in the last five years • Key steps as a new owner • Standard vs tailor making in the last five years • How to stimulate cross portfolio initiatives • Key examples of a new approach Fredrik Strömholm, Partner and Founder, Altor

PANEL

14:50 Returns: the reality vs expectations • Asset allocation – private equity vs alternatives • Actual ROI vs expected return –sector breakdown • Do returns disappoint now or are they still strong? Joachim Høegh-Krohn, CEO, Argentum Further speakers to be confirmed, please visit nordicpeforum.com for updates

PANEL

13:40 Fundraising stats from Unquote”

16:00 Business models to outperform in European Mid-Market Private Equity • Change of value drivers in Europe and the Nordics • Characteristics of successful Private Equity business models • DOs and DON’Ts to reach outperformance • Pitfalls in Nordic Private Equity organisations Christopher S. Bödtker, CEO, Akina Dr. Ralf Gleisberg, Principal, Akina

PANEL

STATS

AFTERNOON

W: NORDICpeForum.com E: conference.delegates@incisivemedia.com T: +44 (0)207 004 7464

16:20 Allocation Strategies and GP-LP communication • LPs’ needs and expectations • What factors help to select GPs • How will GPs deliver on LPs’ return expectations Patrik Nevsten, Partner, Northsea Capital Jesper Knutsson, Senior Investment Manager, Danske Private Equity Tim Creed, Managing Director, Adveq

ROUNDTABLES

15:30 Afternoon break

17:00 ROUNDTABLES • Selected speakers host roundtable discussions

17:30 Evening Reception

“Panel sessions providing a thorough overview of the Nordic market and an open networking environment” - Private Equity Analyst, State Street


BOOKING DETAILS LIMITED PARTNERS ATTEND FOR FREE*

REGISTER NOW W: NORDICpeForum.com E: conference.delegates@incisivemedia.com F: Fax booking form to: +44 (0)20 7504 3730 T: Call Peter on +44 (0)207 004 7464

Who will benefit? Heads of Private Equity Group

Managing Partners

Investment Managers

Senior Investment Officers

Institutional Investors

Founding Partners

Pension Fund Managers

Heads of Alternative Investment

Senior Bankers

Associations

Directors of Asset Management

Analysts

Legal Experts

Placement Agents

Partners

Finance Directors

Corporate Financiers

CFOs

Managing Directors

Portfolio Managers

CEOs

Fund of Fund Managers

VISIT NORDICPEForum.COM FOR MORE DETAILS

VENUE & ACCOMMODATION

UK REGISTRATION

Grand Hôtel Södra Blasieholmshamnen 8 P.O. Box 16424 SE 103 27 Stockholm Sweden

For European office registration, post to: Conference Administration, Incisive Financial Publishing Ltd, Haymarket House, 28 – 29 Haymarket, London, SW1Y 4RX, UK

Reservations: Email: reservations@grandhotel.se Telephone: +46 (0)8 - 679 35 60 Fax: +46 (0)8 - 679 35 61

US REGISTRATION For US & Canada office registration, post to: Conference Administration, Incisive RWG Inc, 120 Broadway, 5th Floor, New York, NY 10271, USA

“An excellent day for those with clients or interests in the Nordic region” - Partner, Bedell Group


SpONSORS GOlD SpONSOR: Delphi is considered one of the top private equity law firms in Sweden, recommended by both chambers and Partners and Plc Which lawyer. We give advice to private equity houses in buy-out and venture transactions. We also offer advice in all related matters, such as fund formation including tax, lP advice and acquisition and venture finance. We also offer advice on incentive programs for management. delphi.se

UNQUOTE� EVENTS 2013:

CEE Private Equity Forum

Nordic Private Equity Forum

Warsaw, 25th April 2013 ceepeforum.com

Stockholm, 15th May 2013 nordicpeforum.com

DACh Private Equity Forum Munich, october 2013 dachpeforum.com

Italia Private Equity Forum Milan, November 2013 italiapeforum.com

hoW to rEGIStEr: W: nordicpeforum.com E: conference.delegates@incisivemedia.com t: +44 (0)207 004 7464


BOOKING FORM Prices

Fee

Full Price

€2,449 +VAT

Early bird discounT 1 Expires 15th March 2013

€1,999 +VAT

€450

Early bird discounT 2 EXPIRES 5TH APRIL 2013

€2,199 + VAT

€250

Limited Partners**

Complimentary

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*All discounts are calculated on the full price of the event and must be qualified by Incisive Media. Discounts cannot be combined ** For the purposes of this conference we define qualifying Limited Partners as pension funds, insurance companies, family offices, endowment funds, foundations and sovereign wealth funds and fund-of-funds. Fund-of-Funds must be actively investing to qualify. The person representing the limited partner must be a direct employee of the limited partner and must not work in a sales or marketing. Please note VAT is applied at the local rate of 25%. Payment must be received before the event start date.

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unquote" Nordic Forum