Book now08:30 Registration and coffee
08:55 Welcome address
Francinia Protti-Alvarez, Editor, SOUTHERN
EUROPE UNQUOTE”
09:00 Chairperson’s opening remarks
Mara Caverni, Partner, Transaction Services, PRICEWATERHOUSECOOPERS
09:10 Keynote address
An Italian industrialist’s perspective on the economic impact of PE in Italy
Claudio De Conto, COO AND General Manager, PIRELLI & C.
09:40 Panel: Finding and constructing the best deals
Assessing the current state of regional deal structures: how is the pie
divided?
Pursuing opportunities in small and medium sized buyouts
Private equity’s agenda v. family business agenda in primary deals
Opportunities in expansion capital and group building to create value
Future prospects of Public to Private (P2P) deals and using the stock market
for dealflow and exits
Moderator: Dimitri Christopher, Transaction Services, PRICEWATERHOUSECOOPERS
Gianluca Andena, Partner and Co-Managing Director, PERMIRA
Nicola Emanuele, Managing Director, AKSIA GROUP
Marco Fumagalli, Managing Director, Partner and Head of Italian Office, 3i
Aldo Maccari, Director and Head of Italy, CANDOVER
Marco Mantica, Managing Director, VESTAR CAPITAL PARTNERS ITALIA
10:20 Panel: Analysing contemporary capital structures through the credit crunch
• Looking at the changing senior debt multiples from a banking and mezzanine
fund perspective
• Lending terms: covenants, amortization, etc
• Filling the gap with mezzanine: the pros and cons of using the subordinated
layer (pricing, flexibility, interest alignment)
• Local banks, liquidity and leverage levels in mid-market deals in relation to
transaction financing
Moderator: Daniele Candiani, Managing Director and Country Head Italy, IKB
INDUSTRIEBANK AG
Vincenzo Manganelli, General Manager, NEM DUE SGR
Pierfelice Murtas, Principal, CAPITALIA SOFIPA SE
11:00 Morning break and an opportunity to network
11:30 Panel: Institutional appetite and requirements for fundraising in Italy
The real impact of increasing institutional appetite for private equity as
an asset class
Domestic fundraising and investment preferences for LPs in Italy: prefer to
invest in a country or a regional fund?
Keeping up with LP demands:
- LP entitlement to co-investment rights
- Should you accept cornerstones?
- What is a ‘justifiable’ management fee?
- Looking at fund size and efficiency
Moderator: Peter Mayrl, Investment Director, ALLIANZ PRIVATE EQUITY PARTNERS
Britta Lindhorst, Managing Director, GENERALI PRIVATE EQUITY INVESTMENTS
John Holloway, Director, EUROPEAN INVESTMENT FUND
Robert Tomei, CEO and Founder, ADVANCED CAPITAL
12:10 Panel: The Italian secondaries market
Current status of secondaries activity in Italy
The impact of the latest market developments on the Italian secondaries market
Role of secondaries in addressing the challenges facing GPs
The outlook for liquidity in Italy going forward
Moderator: Marleen Groen, CEO, GREENPARK CAPITAL
Antonio Corbani, Managing Director, ABN AMRO CAPITAL Jeremy Golding, Partner,
GOLDING CAPITAL PARTNERS
Oliver Gardey, Partner, ADAMS STREET PARTNERS
Wouter Moerel, Partner, ALPINVEST PARTNERS
12:50 Networking lunch
13:50 Panel: Uncovering approaches to managing compliance and corporate governance within portfolio companies
Combining Italian expertise and the Anglo-Saxon perspective: Italy specific
risks v. widespread risks within portfolio companies
Understanding family business dynamics and risk in portfolio companies
Optimising investor relations and realizing a successful transaction with a f
amily owned business
Deal structures and risk: minority stakes v. buyouts in Italian PE
Moderator: Ben Wootliff, Associate Director, Financial Services Practice,
Corporate Investigations, CONTROL RISKS
Fabio Sattin, Chairman and Founding Partner , PRIVATE EQUITY PARTNERS
Marco Fumagalli, Managing Director, Partner and Head of Italian Office, 3i
14:30 Case study: Turnarounds and distressed debt in the Italian market
Exclusive Ducati case study
o Industrial reorganisation
o Brand repositioning
o Refocusing on core sport bikes segment.
Andrea Bonomi, Chairman and Founder, INVESTINDUSTRIAL
15:00 Afternoon break and an opportunity to network
15:20 Case study: Key legal issues arising out of a M&A transaction in an emerging Eastern European Market
• Interface with and management of local advisors
• Added complexities of privitasation processes in predominantly state-owned
markets
Daniele Raynaud, Head of Milan Office, ASHURST LLP
Mark Sperotto, Partner, ASHURST LLP
15:40 Presentation: Latest developments in Italian tax legislation relevant to PE structures and a preview of the 2009 finance legislation
• Tax legislation changes relevant to PE structures
• A close look at finance legislation in 2009
Paola Flora, Head of Italian Tax Practice, ASHURST LLP
Stefano Roncoroni, Senior Associate, ASHURST LLP
16:00 Afternoon Special Guest Keynote
Understanding the character and impact of Italian private equity
• An international comparison
• The economic impact of private equity
• A close look at AIFI proposals
Giampio Bracchi, President, AIFI
16:30 Champagne Roundtable: GPs and LPs discuss strategy, appetite and 2009 investment pace
The investment climate for 2009 and expected challenges and opportunities
Recession proof sectors: Services, healthcare, and technology
Evaluating Italy specific sector opportunities, from brand investment to
industry
Market size and opportunity: is the region overcrowded?
Assessing the new player: Sovereign wealth funds: investors, players, or
strategic partners?
