The Business School for the World | INSEAD · 2018-06-21 · 13th Annual INSEAD Private Equity...

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13th Annual INSEAD Private Equity Conference 1

Welcome to the 13th Annual

INSEAD Private Equity Conference INSEAD welcomes you to the 13th Annual Private Equity Conference.

The conference, inaugurated in 2003, has become the most successful private equity and

venture capital event hosted by a European academic institution. With over 1,500 alumni

working in the industry worldwide, INSEAD’s presence in the private equity community is

well-recognized. This conference is a gathering amongst leading practitioners, academics and

the INSEAD community to debate the forces shaping the private equity industry. We are

delighted to host an impressive and diverse group of experienced industry professionals here

on INSEAD Europe Campus.

Since the financial crisis, one of the strongest trends in private equity has been increased focus

on value creation. This year’s theme, “How to create value when facing with high valuations,”

aims to delve into the topic of generating returns in the current environment, and assess the

implications of this trend for the future of private equity. Our keynote speakers, leveraged

buyouts and operational excellence panels will explore the topic of value creation deeper.

Beyond value creation, the industry is further being shaped by a number of different dynamics

and intense competition. To further develop the main theme, we have lined up a focused range

of panels and have assembled a diverse group of outstanding panelists and moderators for

you. Our panels will attempt to give an update on the current state in different parts of the

industry, such as distressed investing, infrastructure and real assets, emerging strategies and

limited partner relationships.

The annual conference is organized by student and alumni members of the INSEAD Private

Equity Club, Global Private Equity Initiative (INSEAD faculty body focused on research in

Private Equity industry), Alumni Relations and Student Life offices. IPEC would like to thank our

distinguished speakers and guests for contributing to this year’s conference as well as our

sponsor AlpInvest for their financial support and guidance. In addition, this day would not have

been possible without the dedication of a large number of INSEAD MBA participants, members

of the administration and faculty.

Thank you for joining us. We hope this conference will provide an opportunity to learn from

the insights of our keynote speakers and panelists, a forum for discussion and a platform to

forge new relationships within the community.

The INSEAD Private Equity Club Conference Organisation Team


13th Annual INSEAD Private Equity Conference

“How to create value when faced with high valuations”

08:30 - 09:00 Registration & Coffee

09:00 - 09:20 Introduction Ilian Mihov, Dean of INSEAD Amphi A

09:20 - 10:00 Keynote Andrew Sillitoe, Co-CEO Apax Partners Amphi A

10:10 - 11:05 Panel Session 1

Leveraged Buyouts Amphi A

Venture Capital Amphi B

11:05 - 11:35 Coffee Break


Africa Amphi A

Distressed Investing Amphi B

12:30 - 14:00 Lunch Restaurant

14:00 - 14:45 Keynote

Céline Méchain, MD Goldman Sachs

Charles-Eduard van Rossum, COO EMEA Natural

Resources Group, Goldman Sachs Amphi A


Operational Excellence Amphi A

Infrastructure Amphi B


LP Dynamics Amphi A

Careers in Private Equity Amphi B

17:00 - 18:00 Cocktail Reception


Ilian Mihov was appointed Dean of INSEAD on October 1, 2013, having held the

position of Interim Dean since March 1, 2013. Professor Mihov joined the INSEAD

Economics department in 1996. He has taught Macroeconomics and Econometrics in

the MBA, EMBA, PhD and many executive education programs as well as in the Global

Leadership Fellows Program of the World Economic Forum. He has been nominated

several times as one of the best teachers in the MBA and EMBA programs and he has

won the Outstanding Teacher Award in 2006, 2008 and 2009. He holds a PhD from

Princeton University and a BSc in Business Administration from the Moore School of

Business at the University of South Carolina where, in 2006, he was recognized as a Distinguished Young

Alumnus.

Andrew Sillitoe is co-CEO of Apax Partners and a Partner in the Tech & Telco

team. Andrew is also a member of the Executive, Investment, Approval, Portfolio

Review and Exit Committees. He has been based in London since joining the firm in

1998 and has focused on the technology & telecommunications sectors in that

time. Andrew has been involved in a number of deals, including King, Orange,

TIVIT, TDC, Intelsat and Inmarsat. Prior to joining Apax Partners, Andrew was a

consultant at LEK where he advised clients on acquisitions in a number of sectors.

Andrew holds an MA in Politics, Philosophy and Economics from Oxford and an MBA

from INSEAD. Andrew is also a Trustee of Impetus – The Private Equity Foundation.

Céline Méchain is responsible for covering Private Equity Sponsors in France. She

joined Goldman Sachs in 1998 as an analyst in Leveraged Finance in London. Céline

co-founded the Women’s Network of Goldman Sachs in Paris and the Women

Business Club of AFIC (French Venture Capital Association). She became a vice

president in 2001 and was named managing director in 2006. Prior to joining the firm,

Céline worked at Deutsche Bank in the Structured Finance Division from 1995 to 1998

and in the Mergers & Acquisitions Department of Citigroup in Paris from 1994 to 1995.

Céline graduated from Lyon’s Business School in 1994 and earned a Master of Arts in

International Business Analysis from Leicester University in 1992. She has two daughters and lives in Paris

with her family.

Charles-Eduard van Rossum is chief operating officer of the Global Natural

Resources Group in EMEA and has senior coverage responsibility for a number of the

firm’s key European energy, power, chemicals, and metals and mining clients. He

joined Goldman Sachs in 1997 after working as a summer analyst the previous year

and was a member of the Advisory Group in London and the Energy and Power

Group in New York before relocating to Paris in 2001. Charles-Eduard was named

managing director in 2008. Charles-Eduard earned an Msc in Business from the

Solvay Business School in Brussels in 1997. He and his wife, Séverine, have four sons,

Nikolai, Kostia, Alexandre and Andréas, and live in Paris.

Keynote speakers


Moderator

Sami Rahal is a member of Deloitte Executive Committee and the Managing Partner of

Financial Advisory in France and Leader of M&A Transaction Services in EMEA. An Insead

MBA Alumni, Sami has advised on all aspects of evaluating, structuring and negotiating

deals for buyers and sellers, private equity investors and strategic buyers. In 2007, Sami

was shortlisted in the "Financial Adviser of the Year" category at the European PE and VC

Association Awards. Recent PE transactions Sami advised comprise the refinancing of

Materis Paints, the divestments of Diana by Ardian to Symrise, Kerneos to Astorg and

ParexGroup to CVC or the LBOs on Maisons du Monde by Bain Capital and on Inseec and SKG by Apax.

Christophe Bavière is the CEO of Idinvest Partners since 2001. Christophe Bavière

actively heads all investment activities and chairs all Investment Committees. Prior to

joining Idinvest Partners, Christophe Bavière held senior positions within the AGF-Allianz

Group, as CIO of Allianz Private Equity Partners and as CIO of Allianz Global Investors.

Christophe Bavière holds an MBA from the University of Ottawa and a business degree

from ESLSCA (Paris). He is member of the French Institute of Actuaries. In 2007, he was

elected "Private Equity Personality of the year" by Capital Finance Les Echos.

Frans Tieleman coordinates deal sourcing accross teams : Eurazeo Capital (European

large cap - direct investments above €75m), Eurazeo PME (French small and midcap

buyout) and Eurazeo Croissance (growth equity). With c. 5.5bn€ in net assets Eurazeo is

France's largest private equity investment company and is listed on Euronext. Recent

deals include InVivo NSA, Desigual, Asmodée and Moncler. Frans also manages the

fundraising team and led the effort for the recent €520m Eurazeo PME fund. Frans

previously worked at Reuters Venture Capital and at McKinsey & Co. and is an Insead alumnus (MBA

'99D).

Alexandre Motte started his career as an M&A analyst at BNP in New York. He then

worked for eight years within The Boston Consulting Group, where he was a Principal,

focusing on healthcare and consumer goods. He then joined Ardian in 2007, where he is

now in charge of Global Co-Investments. He is an engineer from Ecole Centrale Paris and

holds an MBA from Insead.

.

Leveraged Buyouts Panel session 1: 10:10-11:05


Moderator Antoine Duvauchelle is a co-founder at SeriesImpact, a provider of next generation

education platforms for high growth technology startups and innovative companies. He

was the co-creator and co-teacher to the innovative and high pace “Your First Hundred

Days - Next Generation” course at INSEAD. This is one of the most popular courses taught

at MBA and EMBA levels. He was previously, an Entrepreneur in Residence for Project A

Ventures, Berlin, a leading internet and mobile VC where he was International Business

Development Manager for Tirendo.com (ACQ: Delticom €50 million). MBA from INSEAD, MA from the

Johns Hopkins University and BA from the University of Maryland. Ironman Triathlete and proud father of

two. Christian Thaler is a partner at Paua Ventures

where he focuses on European

investment opportunities in the

software technology space. Prior

to Paua Ventures, Christian

spent five years identifying

investment opportunities in the

internet and software space and

managing the due diligence process at leading

pan-European venture capital fund Wellington

Partners. Previously, he was on the

management team of startup CareerConcept

AG as the director of business development.

Christian has an MBA from INSEAD and an

undergraduate degree in international

economics from Corvinus University Budapest

and York University Toronto.

Richard Anton joined Amadeus in 1998 and

specialises in software companies.

He serves as non-executive

director on the boards of five

companies. Richard recently

served as Chairman of the British

Private Equity and Venture Capital

Association (BVCA). Prior to

Amadeus, Richard worked as a management

consultant, a hands-on finance and business

development executive and a turnaround

manager. He joined Apax Partners in 1994,

where he made a number of early stage

investments, the best known of which was

software company Autonomy. Richard holds an

MBA from INSEAD and a BA and MA in

Mathematics from Christ's College, Cambridge.

Reshma Sohoni has always combined

technology and business from

university to today. Getting

degrees in both Engineering

and Business (UPenn M&T)

meant that from an early age she

was cultivating a path that would

always bring business and technology together.

Reshma worked in M&A and venture capital

across B2B Software and Internet services

businesses in the US and India. She helped in

building MakeMyTrip (NASDAQ) in its

formative days. Following on from this, Reshma

went to INSEAD and earned her MBA, fell in

love with Europe and stayed on to work in

Commercial and Marketing Strategy at

Vodafone. Reshma brings a good mix of tech,

business, commercial drive, marketing and that

American chutzpah to our incredible team.

Andreas von Richter joined EcoMobility

Ventures (EMV) in 2014 as a

Partner and sits on the boards of

EZ Wheel, Ouicar and serves as a

board observer on Ridepal and

LocoMobi. Before joining EMV,

Andreas worked for GE (2005-2013 and then

shortly for Saudi Aramco Ventures. From 2008-

2013 he was a VP at GE’s corporate Venture

Capital unit focused on the energy, water and

transportation sectors. Andreas led the

investments in five start ups totaling $40m and

one fund-of-funds investment. His first

investment - Solaredge (SEDG) recently IPO’ed

on the NASDAQ. From 2005-2008 he was part of

the leadership team in GE’s European R&D

Centre. He holds a Masters Degree in

Aeronautical Engineering from the University of

Delft and a MBA from INSEAD.

Venture Capital

Panel session 1: 10:10-11:05

http://tirendo.com/

http://www.upenn.edu/fisher/

http://www.makemytrip.com/

http://www.insead.edu/


INSEAD Private Equity Club (IPEC) is INSEAD’s largest club and serves as a forum for all aspects of the

Private Equity industry, for alumni and students alike. IPEC’s goal is to support INSEAD’s thought

leadership, participation, and recognition in the field.

The IPEC student club was founded in 1992 to promote Private Equity initiatives on campus. The club has

over 200 student participants per promotion and is a key promoter of on-campus speaker events, student

treks to financial centers globally, and seminars.

IPEC also serves as the global club for alumni working in the Private Equity industry. IPEC has a global

presence, with chapters in over 21 countries and five continents, and has a network of over 1,500 alumni.

Annually, the alumni club hosts events around leading industry conferences, engages with alumni by

hosting panel sessions and speaker series, and assists alumni and students alike with career

development choices.

IPEC’s flagship events are its annual Private Equity conferences held in France and Singapore. The

annual INSEAD Private Equity Conference in Fontainebleau is the largest student event of its kind hosted

by an academic institution in Europe. The conference typically attracts as many as 300 participants and

has hosted keynote speakers such as Stephen Schwarzman, Founder of The Blackstone Group; Howard

Marks, Founder of Oaktree Capital Management; Conni Jonsson, Founder of EQT; Joe Schull, Managing

Partner at Warburg Pincus; Francesco Loredan (MBA ‘85J), Managing Partner and Co-Chairman at BC

Partners; and Guy Hands, Founder and Chairman of Terra Firma.

Leadership, Objectives, and Activities

Alumni Committee Student Committee

François Aguerre

Jonathan Monié

Philip Viergutz

Andrew Holt

Guillaume Adnot

Objective

To provide a global forum for the alumni working

in the private equity industry.

Key Activities

Grow the IPEC alumni network through the

establishment of regional chapters

Promote awareness of INSEAD’s PE alumni

Host global speaker series and events

Enable career development initiatives for

alumni and students alike

Support the student club in its on-going

activities: Conference, CV Book, on campus

speaker series

Objective

To provide the INSEAD community with a platform

to learn about Private Equity.

Key Activities

Lead the organization of the bi-annual

conferences

Host speakers on campus

Craft and promote a student CV Book

Identify internship opportunities for students

Support ongoing research and projects on

campus

Provide the students with Private Equity

focused training and seminars

For additional information on alumni club:

iaa.insead.edu/IAA/inseadalumniclubs/IPEN

Or follow us on Collaborne

To follow the student club register here:

http://mba-clubs.insead.edu/private-equity/

Or follow us on Yammer

INSEAD Private Equity Club

https://iaa.insead.edu/IAA/inseadalumniclubs/IPEN

https://iaa.insead.edu/IAA/inseadalumniclubs/IPEN


About IPEC Sponsorship

IPEC’s activities and the conference would not be possible without the gracious support of it sponsor.

Sponsorship enables IPEC to fund a variety of activities globally. If you enjoy the conference and are

interested in sponsoring future IPEC initiatives, please contact us at

[email protected].

Main Sponsor

IPEC Conference Sponsor


Moderator Nina Triantis joined Standard Bank in 2005 having previously spent 14 years with CIBC World Markets

in London more recently as European Head of Media, Telecoms and Technology and in the early 1990’s

in the Acquisition Finance unit. Nina has over 23 years investment banking experience, of which 14

years have been spent advising and arranging finance in the TMT sector throughout the world. She has

an extensive knowledge base and contacts of a large number of telecommunications operators

throughout the emerging and developed world and has had responsibility and experience originating

and overseeing the execution of financing and M&A transactions, privatisations and private equity

transactions. Nina holds an MBA from Stern New York University graduate school of business and a BA in Economics

and French from Columbia University.

Laurent Demey was Chief Investment Officer and then Deputy CEO of Proparco, the French

Development Finance Institution, from 2006 to 2011. In these capacities, he managed together with Luc

Rigouzzo the very strong growth of Proparco during that period. Laurent started his career at Société

Générale, first working on exotic sovereign debt trading and debt/equity swaps and then in the Africa

M&A and Advisory department, working as Team Leader on strategic privatizations throughout the

continent and advising governments on their debt management (Cameroon). Laurent Demey graduated

from the Ecole Centrale de Paris and holds a postgraduate diploma in development economics from the Ecole

Normale Supérieure. He is a recognized specialist of the African financial sector, having served on numerous boards

over the past years.

Stéphane Heuzé joined our Casablanca office (covering Africa) in September 2014. Stéphane began

his career with BCG (The Boston Consulting Group) in Paris. He then spent two years with Goldman

Sachs in London, within the team responsible for managing the firm’s equity, mezzanine and secondary

debt funds. In 2009, he returned to BCG as a founding member of the Casablanca office, covering

Africa. He graduated from Ecole des Mines de Paris and holds an MBA from Harvard Business School. Peter Baird leads the Africa private-equity team for Standard Chartered. He has 19 years of experience in private

equity, consulting, and investment banking. He spent 11 years at McKinsey in South Africa and in the

U.S., where he was a partner in the healthcare practice. From 2006 to 2008, Peter was President of DJO,

Inc., a medical-devices owned by Blackstone. Earlier in his career he was a Principal at Brait Capital

Partners, and in the M&A group at Lehman Brothers.

William Nkontchou is a Director of Emerging Capital Partners based in Paris. With seven funds and

over $2 billion under management, ECP is a leading private equity manager focused exclusively on

Africa. ECP has seven offices across Africa and over a decade of investing experience in companies

operating in over 45 countries on the continent. Mr. Nkontchou began his career with General Electric

and, in 2001, he joined Merrill Lynch Investment Banking in London where he focused on advising major

European clients in the consumer/retail sector on various transactions including M&A, Equity & Debt

financing and LBOs. Prior to joining the ECP team in 2008, he worked for Sindicatum, a London-based

corporate advisory boutique, where he focused on sourcing and executing principally private-equity led transactions

in West, Central and Eastern Europe. Mr. Nkontchou holds an MBA from Harvard Business School and is a graduate of

Ecole Polytechnique (Ms Sciences) and Ecole des Mines de Paris (Ms Engineering). He is a Cameroon National. Mr.

Nkontchou serves on the board of Thunnus Overseas Gold and Oragroup SA. Ali Mazanderani joined Actis in 2010, and has been instrumental in more than a dozen transactions across emerging

markets. He is the sector lead for financial services transactions in Africa. He is a Board Director and

the investment manager for Upstream Systems (m-commerce), CSH Group (credit bureau) and

PayCorp Holdings (payments) and was instrumental in the creation of EMPH (payments). Between them

these companies operate in and provide financial infrastructure in more than 40 countries across

Africa. Before Actis, Ali was Lead Strategy Consultant for FirstRand Bank working across retail,

corporate and investment banking. Prior to that, he advised private equity and corporate clients for

OC&C Strategy Consultants in London. Ali has Masters degrees in Economics for Development and Economic History

from Oxford University and the London School of Economics respectively, and a BCom(Hons) degree in Economics

from the University of Pretoria.

Africa



Alexis Pourchet is an Operating

Partner at SVP Global, a distress

debt investment fund with both

trading and loan-to-own

strategies, where he has been

employed since 2012. He is on the

board of Klockner Pentaplast, a

Eur1.2bn packaging company with operations

globally, and Jeyes, a £120m FMCG

manufacturing company with operations in UK

and US. From 2006 to 2012, Mr. Pourchet served

as a restructuring specialist for Alvarez &

Marsal, most recently as a Senior Director in

London, involved in operational and financial

restructuring mandates, including with Diam

Group, Endemol and The Vita Group. Prior to

that, Mr. Pourchet was an Associate with

Deutsche Bank’s mergers and acquisitions

practice in New York.

Helen Lee Bouygues has over

18 years of financial, operational

and turnaround executive

experience. Since January 2014

Helen Lee Bouygues is the

Partner responsible for McKinsey

RTS in France and leads the

European turnaround practice for EMEA.

Before joining McKinsey, Helen Lee Bouygues

founded Lee Bouygues Partners in 2011 a

consulting firm specialized in turnarounds,

performance improvement and interim

management. She served portfolio companies of

over 20 PE firms during this period. Prior, she

was Senior Director of Alvarez & Marsal France.

Helen Lee Bouygues began her career in M&A

at J.P. Morgan in New York before joining

Audax Group, a Private Equity firm. She had

then joined Cogent Communications, a

NASDAQ-listed telecommunication company.

Helen Lee Bouygues holds a degree in Political

Science from Princeton University and an MBA

from Harvard Business School.

She is also a regular guest lecturer at INSEAD on

Corporate Turnarounds.

Alon Avner joined Sankaty

Advisors in 2006. He is a

Managing Director in

Opportunistic Credit and the

head of the London office

responsible for investments in

the European Media and Telecom sectors. He

also focuses on Sankaty’s separate accounts in

Europe. Previously, Mr. Avner was a Manager at

Bain & Company. In addition, he spent several

years in operations and marketing roles at

Comverse Technology and Creo/Scitex. Mr.

Avner received an M.B.A. from INSEAD and a

B.Sc. in Industrial Engineering from Tel Aviv

University.

Martin Gruschka co-founded

Springwater Capital in 2002.

He entered the private equity

business working for the private

equity firm Veronis, Suhler &

Associates in New York and later

in London. He then co-managed the media

private equity business of Dresdner Kleinwort

Capital, DrKC Media Partners, focussing on

equity partnerships with large communications

groups. Mr. Gruschka previously worked in the

European media industry group in investment

banking for Deutsche Bank. He started his

career as a management consultant and built up

the German and later European media practice

of Arthur D. Little. Martin is a German national.

He speaks German, English and French fluently

and has a working knowledge of Spanish.

Distressed



As one of the world’s leading and largest graduate business schools, INSEAD brings

together people from across the globe to change lives and transform organisations.

With campuses in France, Singapore and Abu Dhabi, INSEAD’s business education

and research spans three continents, and offers unparalleled cultural diversity and a

true global perspective. Each year, our 147 renowned faculty members (from 34

countries) inspire more than 1,200 degree participants in our MBA, Executive MBA

and PhD programmes.

Our global reach also includes: the INSEAD-Wharton Alliance in the United States; a

partnership with Tsinghua University, China; and an executive education program

with Fundacao Dom Cabral, Brazil that has existed from more than twenty years.

Around the world, INSEAD conducts cutting-edge research and innovative

programmes to provide business leaders with the knowledge and sensitivity to

operate anywhere. With these core values, INSEAD has become “The Business School

to the World.”

Private Equity fits well with the school’s entrepreneurial spirit and the rigorous managerial education INSEAD

provides. Driven by strong interest from our students and more than 1,800 alumni in the Private Equity industry,

INSEAD has established a solid foundation for research, teaching and global interaction through its Private Equity

Centre. MBA students and alumni also spearhead the highly active INSEAD Private Equity Club (IPEC) that

organized this conference.

The first IPEC Conference, launched in 2003, reflected Private Equity’s growing importance in the business world

along with our students’ increased interest in the field. Since its inception, the IPEC Conference has served as a

bellwether of the state of the industry and chronicled its rapid development. Although Private Equity is long-term in

nature, it is nevertheless strongly impacted by cycles in the wider economy and the financial industry, in particular.

This year’s conference addresses the timely question of “How to create value when faced with high valuations”—set

against the backdrop of high asset prices and increasingly challenging macroeconomics. Beyond focusing on

operational and financial robustness, we believe the answer lies in building better businesses through renewed

emphasis on operational value-add, coupled with the traditional good corporate governance model of Private

Equity. The conference also will investigate how Private Equity is extending its business model to new geographies

and other investment strategies. Panels on Africa and Infrastructure Investing will explore these themes.

We are happy to support the INSEAD Private Equity Club in their important work and trust you will enjoy this year’s

conference. Whether it is your first or one of many visits to Fontainebleau, we hope to see you again in the future.

Dean

INSEAD

Recent INSEAD Rankings – MBA Programme 2015

Publication Rank Region

Bloomberg BusinessWeek #5 Outside U.S.

Financial Times #4 Global

Forbes #2 Global

QS Top MBA #1,2 Asia, Europe

More information: www.insead.edu

Welcome to INSEAD

http://www.insead.edu/


Business School for the World

Joining INSEAD gives you instant access to a truly global network of contacts: more than 45,000 business

leaders in 170+ countries. Of course, other leading schools have alumni scattered throughout the world,

but we have a critical mass in more locations than any other. In fact, there are 39 countries where we have

over 100 alumni.

We offer many easy ways to plug into this worldwide web of contacts, including National Alumni

Associations, an online networking platform and a range of events, including regular reunions, back at

INSEAD. Our participants are always impressed by the network they acquire during the programme –

and then amazed by the benefits of belonging to an even wider network once they graduate.

Singapore

Australia

Japan

Korea

China

Hong Kong India

Brazil

United States

Canada

United Arab Emirates

Israel Lebanon Greece

Italy

Switzerland

Austria Russia Federation

Germany

Denmark Sweden

Norway Netherlands

Belgium United Kingdom

France Portugal

Spain

Countries with more than 100 MBA Alumni


Moderator Adrian Johnson is a technology and media entrepreneur. Since 1993 he has co-founded

several companies, including Poptel, Germany's first phone-to-phone Internet telephony

service provider (VC-funded and successfully sold in a trade sale); Archimation, Germany's

first architectural animation and visualisation company; MrFootage, a web-based footage

library; and Eventival, the leading online film festival management system. With Inheritance

Media, Adrian is developing web and mobile applications primarily for the media and

education industries.mAdrian teaches the “Your First Hundred Days” Acquisitions MBA/EMBA course

and MBA Startup Bootcamps at INSEAD in Fontainebleau and Singapore. Adrian is British, but spent most

of his childhood in Sierra Leone, Kenya and the USA. His ventures were founded in Germany, France and

the UK. He studied Electrical Engineering at Imperial College, London and earned his MBA from INSEAD.

Hervé Amar holds a post-graduate degree in Corporate Diagnosis Methods and Concepts.

CEO of F-Initiatives in 1998, he became Director of Alma CG’s Innovation unit in 2001. He

was appointed President in 2014.

Alain Vourch (Managing Director, KKR Capstone, London) joined KKR Capstone in 2004.

Prior to KKR Capstone he worked as a management consultant at the Boston Consulting

Group, with in depth experience in consumer goods, retail, industrial goods and business

services. Mr. Vourch also co-founded Argus Interactive and led the business launch of

argusauto.com, one of the largest automotive portals for used cars in France. At KKR

Capstone Mr. Vourch is involved with SMCP, Pets at Home, Tarkett and Maxeda (formerly

Vendex KBB). He holds a M.Sc. from the Ecole Polytechnique and Ecole des Mines de Paris, France. Mr.

Vourch is fluent in English and French.

Jan Kengelbach joined BC Partners in London in 2010. Previously, Jan spent three and a

half years at AlixPartners working as a financial restructuring and operational turnaround

advisor. Prior to this, he worked as the managing director of the Byrd Hoffman Water Mill

Foundation in New York, as a strategy consultant with McKinsey & Co. in Munich, and an

intern with Goldman Sachs’ in the mergers and acquisitions division in London.Antonio Alvarez III, a Managing Director with Alvarez & Marsal, has built and led the A&M

Europe practice since 2001. Mr. Alvarez specialises in complex Pan-European

engagements, turnarounds and performance improvement projects in public and privately

owned companies. He has led high profile mandates including Hag emeyer NV (23,000

employees in 35 countries), Dresser-Rand Group (over 15 countries), Bally AG, Loch

Lomond Country Club (Scotland), Kion Group GmbH and CHC Group (over 20 countries).

Mr. Alvarez has also acted as a Chairman, Board Director and CRO in several mandates .

Mr. Alvarez received a bachelor's degree from the University of Notre Dame and a master's degree in

business administration from Cornell University. He also attended the Université Catholique de L'Ouest in

France as an undergraduate student, and the Université de Louvain-La-Neuve in Belgium as a graduate

student. Mr. Alvarez is fluent in French and English.

Moderator

Operational Excellence Panel session 3: 15:00-15:55

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Julien Toutati joined Meridiam in March 2011. He is responsible for Meridiam corporate development,

covering key initiatives of the company. He has been in particular leading the strategic development of

Meridiam in Africa and an investment committee member of Meridiam Infrastructure

Africa Fund. Julien is also Senior Investment Director with a primary focus on deal

origination in Europe and Africa. He led the closing of the Nimes Montpellier French HSL

in 2012 and University of Hertfordshire Student Accommodation project (1st unwrapped

bond financing of a greenfield project in Europe).Julien has infrastructure investment

and public sector experience, having previously worked at the French Ministry of

Finance’s Agence des Participations de l’Etat (APE). Prior to APE, Julien was Deputy

Head of the European Affairs Division of the French Treasury in charge of the European

financial instruments. Julien also worked for Veolia Transport and for the infrastructure division of

Proparco, the French Development Finance Institution. Julien holds a Master’s Degree in Engineering

from the Ecole des Ponts in Paris, a Master’s Degree in Energy Economics and a Master of Public Affairs

from the Ecole des Ponts in Paris. He teaches Energy Regulations at Sciences-Po Paris. Joost Bergsma (‘95J) founded Glennmont Partners in 2013, completing a spin out of BNP Paribas Clean

Energy Partners which was founded in 2008. Joost has been active in utility banking and fund

management for more than 20 years and has specialized in the power sector and clean

energy, and has devised and implemented asset and exit strategies, raising in excess of

€10bn of sales proceeds for energy clients. Previously, Joost worked at SG Warburg &

Co., ABN AMRO and BNP Paribas. He has a law degree from Leiden University (the

Netherlands) and an MBA from INSEAD.

Bill Weil (05J) is the Chief Investment Officer of Ludgate Investments. Prior to joining

Ludgate, Bill was General Manager of Strategy and Portfolio for Royal Dutch Shell in their

Renewables and CO2 division and then latterly, gained experienced in resource

efficiency private equity investing working with Vantage Point Capital Partners. He

started his career at Environmental Resources Management, moving on to various

operational experiences. Bill graduated with honours from the University of

Pennsylvania, with degrees from both Wharton and the School of Engineering and has

an MBA from INSEAD.

Stéphane Kofman joined InfraRed in 2007 and is one of InfraRed’s partners. Previously he worked within

HSBC’s Asset and Structured Finance group department for six years where he specialised in big ticket

leasing (transportation) and tax structuring (real estate). Stéphane began his career at

PwC in 1995 as an auditor and then moved to Project Finance (power sector) at Crédit

Commercial de France (now HSBC France). Stéphane is currently leading InfraRed’s

team focusing on European infrastructure equity investments. He has been involved in a

number of Development Infrastructure PPP opportunities in the rail and road sectors in

Europe, including the successful closing of a €1.1bn motorway concession in France.

Stéphane graduated in business (MSc in Management) from EM Lyon business school.

Infrastructure Panel session 3: 15:00-15:55


Moderator Philipp Patschkowski is an Investment Principal responsible for origination and

execution and is based in the firm’s London office. Prior to joining Coller Capital in 2008,

Philipp was an Associate Director in the Media/Telecoms team at UBS Investment Bank in

London. Previously, he worked as an Associate in the TMT M&A team at Sal. Oppenheim in

Frankfurt. Philipp has a Diploma in Mathematics and Economics from the University of Ulm

in Germany, and an MBA from INSEAD.

Patrik Nevsten is a Partner at North Sea Capital A/S, a leading North European private

equity funds-of-funds. He has more than 15 years’ experience in private equity, public

equity and real estate investments including employments with Nordea Private Equity,

Swedbank Markets and at a family office. He serves on the advisory boards of Abris CEE

Mid-Market Fund, Graphite Capital Partners VII and Clessidra Capital Partners II. Patrik

holds an M.Sc. in Industrial Management and Engineering and a B.Sc. in Business and

Economics, both from Lund University. In addition, he holds an MBA from INSEAD.

Francesco di Valmarana is partner (joined 2008, 18 years of private equity experience).

Francesco is a senior member of Pantheon's European investment team and a member of

the European Investment Committee. Francesco was previously with Unigestion, where

he managed the firm’s global secondaries programme. Prior to Unigestion he was a

partner and co-founder of the European venture capital firm DN Capital, having spent

three years prior to that as part of the European investment team at Advent

International. He has a BA in East Asian studies from Princeton University, and received

an MBA from Insead. In addition to his native English and Italian, Francesco also speaks French.

David Newhouse was recently appointed General Secretary of the Asset Management

activities of EDF Group. Prior to that, he was in charge of the private equity program of

EDF Invest, the Group investment arm in unlisted assets on behalf of its nuclear

decommissioning fund. David joined EDF Group in 2006, as Senior Vice-President, in

charge of Investor relations before becoming Special Advisor to the Group CFO for

International Financial Affairs in 2010. Prior to EDF Group, David Newhouse had gained an

extensive experience in corporate finance, capital markets and financial communications

in large international corporates and leading investment banks. David is a graduate from

ESSEC business school and holds a diploma in government and public service administration from IEP

Paris. He is married with two daughters.

LP Dynamics Panel session 4: 16:05-17:00


Gail McManus has worked in private equity for thirty years, starting as an investor at 3i

and recruiting for the sector for the last 15 years. She has placed hundreds of people in

private equity and worked with many more to help them develop their careers. Just like

private equity, Gail’s firm takes the long term view, valuing relationships over short

term gain. The firm’s success is based on their thorough understanding of the sector

which comes from the private equity backgrounds of the people in the PERecruit team.

Sita Kolosssa helped a boutique search firm establish their presence in Continental

Europe within the Alternative Asset space and worked within the Financial Services

Practice at Heidrick and Struggles prior to setting up Nordbridge. Whilst there, she

focused on the private equity sector and executed pre and post deal management due-

diligence, management appraisal and senior appointments for investment professionals,

operating professionals and portfolio business management. Prior to that, Sita was

responsible for Investor Relations with RiverRock European Capital Partners in London.

Originally from Hamburg, Germany, Sita began her career in Journalism writing for Der Spiegel before

moving to London to join CNN. Sita studied at the University of Hamburg, Germany and in London,

receiving degrees in International Politics, Economics and Sociology. Sita speaks English, German and

Hungarian.

Francois Aguerre is a Partner responsible for origination and execution, and is based

in the firm’s London office. Prior to joining Coller Capital in 2007, François worked in

the Investment Banking division of UBS in London. Previously, he worked at Gimar

Finance and PAI Partners in Paris, and at Société Générale in New York.

François has an MSc in Engineering from École Nationale des Ponts et Chaussées in

France, and an MBA from INSEAD. He is currently on the advisory committees of CAPE

FoF, Marina Finance, DFJ Esprit II and III.

Careers in Private Equity Panel session 4: 16:05-17:00


INSEAD’s Karan Girotra and

Serguei Netessine, noted

operations and innovation

professors who have consulted

with dozens of companies, walk

you through a business model

audit to determine what key

decisions get made in a

business, when they get made,

who makes them, and why we

make the decisions we do.

By changing your company’s key decisions within

this framework, you can fundamentally alter the

risks that will impact your business.

This book is for entrepreneurs and executives in

companies involved in dynamic industries where

the locus of risk is shifting, and includes lessons

from Zipcar, Blockbuster, Apple, Benetton,

Kickstarter, Walmart, and dozens of other global

companies.

Companies made more than

42,000 alliances over the past

decade worldwide, many of

which failed to deliver strong

results. This book explains why

and how you can seize the

benefits from your business’s

network of alliances with

customers, suppliers and

competitors. This network can

provide three key advantages; superior

information, better cooperation and increased

power. Network Advantage shows how awareness

of these three advantages can help align your

portfolio of alliances with your corporate strategy

to maximize advantages from existing networks

and to position your business as an industry leader.

Network Advantage offers in-depth, practical

guidance for business executives, consultants, and

executive MBAs.

Global leadership has been

frequently heralded by writers

and executives as the key to

sustained competitive

advantage on the part of

organizations. In addition, it is

clear that the possession of

leadership qualities and the

display of leader behaviour are

requirements for individuals

attempting to progress in their careers. It is

important for aspiring managers to learn about the

nature of effective global leadership and how they

can develop their own competencies in this area.

This textbook provides an important overview of

this key emerging area within business and

management. Offering a view into the nature of

global leadership and the competencies necessary

for aspiring managers to succeed, Global

Leadership is essential reading for students of

leadership, organizational theory, strategic

management, human resource management, and

for anyone working and managing in the global

arena.

A groundbreaking guide to

making profitable business

decisions. Do you wonder why

your value initiatives aren't

providing the payoff you'd

hoped for? Could it be because

you've been thinking about

value all wrong? According to

the authors of this

groundbreaking guide, there's a

very good chance that you have. Using examples

from leading companies worldwide, they explain

why every decision a company makes either

creates value or detracts from it, and why, if they

hope to survive and thrive in today's increasingly

competitive global marketplace, company leaders

must make value-creation the centrepiece of every

business decision. Authors Kaiser and Young have

dubbed this approach "Blue-Line Management,"

(BLM), and in this entertaining, highly accessible

book, they delineate BLM principles and practices

and show you how to implement them in your

company.

INSEAD Faculty Publications


Global Private Equity Initiative

GPEI is INSEAD’s Centre of Excellence in Private Equity and works hand in hand with

private equity firms to create relevant, timely and thought provoking output. Our

research targets to enhance the productivity of the capital deployed in this asset

class and to facilitate the exchange of ideas and best practices amongst limited and

general partners and stakeholders involved in the industry (e.g. family firms, public

markets and regulators).

In the short three years since its formation INSEADs Global Private Equity Initiative

has created original yet applied content on a range of under-researched topics and

geographies and generally engaged with senior industry players in many ways. GPEI

helped to establish a state of the art comprehensive curriculum in Private Equity at

INSEAD that is executed in close cooperation with the industry. Today about 700

MBAs take Private Equity electives every year and more than 1600 alumni work in the

industry.

INSEAD's global presence gives GPEI a unique advantage to conduct research into the

established markets for Private Equity while at the same time exploring new frontiers

in emerging markets to arrive at a truly global perspective on the asset class. GPEI is

also focusing attention on newer areas shaping the industry such as Impact

Investing, Growth Equity and Real Estate Private Equity and the needs of various sets

of LPs (e.g. Family offices, Sovereign Wealth Funds).

We are supported by a group of world class companies (The Abraaj Group, General

Atlantic, and PricewaterhouseCoopers) that recognise the importance of independent

research and outreach activities for the growth of the global private equity industry.

In addition GPEI draws on leading data providers to the private equity industry -

Asian Venture Capital Journal, Dow Jones, Preqin Pevara, Emerginf Markets Private

Equity Association (EMPEA) - for its on-going research activities.

For more information on our initiative please visit: www.insead.edu/gpei.

GPEI Core Supporters

GPEI Research Partners


Complementary WiFi Access

SSID = INSEAD-Public

Password: awebuq#53

Complementary Lunch

Lunch will be served in the restaurant area. Please show your name badge at the Cash

Register.

Face-to-face meetings

Break-out rooms are available for face-to-face meetings in the South Wing. Please follow the

signs to this area.

Getting around

Taxis

Taxis will be available at peak times outside the main reception. Alternatively, they can be

ordered at the main reception or by staff at Meeting Point – Camembert

Buses

Organized buses at 6:00 pm from the campus to:

Charles de Gaulle Airport

Gare du Nord Train Station

Shuttles to Fontainebleau Avon train station leave INSEAD at regular intervals throughout the

day:

5:00 pm

5:30 pm

6:10 pm

6:30 pm

Logistics


The INSEAD Private Equity Club would like to thank all of those who have contributed to the

success of the 2014 INSEAD European Private Equity Conference, in particular:

INSEAD Faculty

Vikas Aggarwal, Timothy Bovard, Charles Diehl, Christine Driscoll, Lily Fang, Pierre Hillion,

Ilian Mihov, Urs Peyer, Claudia Zeisberger, Peter Zemsky

INSEAD Staff

Fadilah Ahmad, Sophie Badré, Mia Deana, Sebastien Denudt, Monique Gerressen, Anna

Gyarmati, Christine Hirzel, Aileen Huang, Sylvia Lim, Anna Mbow, Craig McKenna, Stéphanie

Paille, Rosalind Pereira, Michael Prahl, Céline Roger, Axel Tagliavini, Nathalie Taylor, Emilie

Trémauville, Chloé Thierry

INSEAD Printshop

Christelle Bloy, Zoé Leporatti, Catherine Saint-Hilaire

INSEAD Private Equity Club - Executive Committee

Guillaume Adnot, Andrew Holt

INSEAD Career Development Center

Mary Carey, Christelle Cuenin, Agnès Cosnier-Loigerot

Acknowledgements


Head of Conference Organization and

Operational Excellence

Guillaume Adnot

[email protected]

President, INSEAD Private Equity Club

Andrew Holt

[email protected]

Leveraged Buyouts

Walid Kenaissi

[email protected]

Venture Capital

Leonardo Canepa

[email protected]

Africa

Frank Opono Njiki

[email protected]

Infrastructure and Logistics

Vadym Kononenko

[email protected]

GP/LP Dynamics

Arka Banerjee

[email protected]

Careers in Private Equity

Amyn Kassam

[email protected]

Distressed Investing

Roman Protasevich

[email protected]

Logistics

Josée Carignan

[email protected]

Contact Information

mailto:[email protected]

mailto:[email protected]


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The Business School for the World | INSEAD · 2018-06-21 · 13th Annual INSEAD Private Equity...

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Transcript of The Business School for the World | INSEAD · 2018-06-21 · 13th Annual INSEAD Private Equity...