Unquote LP Congress 2006

1

• Unquote LP Congress 2006
• Country specific vs Pan European strategies in
  the Mid-Market
• Who has the edge?
• Panel discussion
• Thursday 2 February 2006

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Panel Participants

• Panellists
• Charles Magnay, Principal, Altius Associates Ltd
• James Pitt, Managing Director, AXA Private
  Equity UK
• Kevin Reynolds, Partner, Bridgepoint Capital
  Limited
• Wol Kolade, Managing Partner, ISIS Equity
  Partners Plc
• Panel chair
• Armando DAmico, Managing Partner, Acanthus
  Advisers

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Topics for the Panellists

• Differentiation strategies for sourcing and
  execution
• Extracting value from investments, exiting
• Where are the strengths and where the weak links?
• Conclusions who has the edge?

4
Differentiation strategies for sourcing and
execution

• Target company characteristics
• Deal types and structures
• Auction, limited auction, direct sourcing
• Sector focus vs. generalist
• Regional strategies / regional offices
• Access to debt

5
Extracting value from investments

• Active vs. passive portfolio management
• Upgrading the team/operating partners how
  hands-on?
• Scaling up the business
• Strategy articulation and execution GPs value
  add
• Exits

6
Where are the strengths and where the weak links?

• Knowledge sharing (sector, country, region) vs.
  coordination challenges
• Efficiencies and economies of scale by
  pan-European groups dream or reality?
• Retaining people

7
Who has the edge?

• Will we see more or less Pan European or
  generally multi-country funds?
• Who performs better?
• Who has the edgewhere?

8
Acanthus Advisers

• Firm profile
• Independent fund placement and corporate advisory
  firm focused on private equity, founded in 1998
• Fund focus 100-500m any stage providing
  fundraising, investor relations and strategic
  advice
• Corporate advisory focus private transactions
  10-150m EV
• Short listed for European Boutique of the Year -
  EVCA Private Equity Awards 2004 and 2005
• Armando DAmico Managing Partner
• 20 years experience in private equity, banking
  and strategy consulting
• Senior banker at EBRD - 700m fund of funds
• Special adviser to Euro Private Equity Partners
  (FOF)
• Ten years strategy consulting Europe/US (Bain
  Co., Alliance, Telesis)
• M.Sc. Civil Engineering, INSEAD MBA