SuperReturn Latin America

Hear From 100+ Speakers Including 70+ LPs:Troque Experiências com Mais de 100 Palestrantes, Incluindo mais de 70 Investidores:

LP Summit:12th March, 2012 / 12 de MarçoMain Conference: / Conferência Principal13-14th March, 201213 e 14 de Março 2012

Tivoli Hotel, Sao Paulo, Brazil

• 250+ attendees in 2011including 120+ LPs

• Includes Brazil, Mexico,Peru, Chile, Argentina &Central America

• Mais de 250 participantes em2011, incluindo mais de 120investidores

• Incluindo Brasil, México, Peru,Chile, Argentina e AméricaCentral

• Warburg Pincus• Oaktree Capital

Management• Advent International• The Carlyle Group• BTG Pactual• Goldman Sachs• GP Investimentos • Pátria Investimentos• Vinci Partners• Gávea Investimentos• SinoLatin Capital• Aureos Latin America

• Darby Overseas Investments

• Vertex Real Estate Investors• Blue Orchard Investments• Intel Capital• Hedgefort Capital• Patrinvest• Axxon Group• Probitas Partners• Alta Growth Capital• Grupo Pegasus• BRZ Investimentos• Sentient Group

• Pomona Capital• Brasilagro• Campo Capital• Telefonica do Brasil • Center for Global

Development• Preqin • Valor Economico• Escola Superior de

Administraçao e Gestao(ESAGS)

• FGV

• The Guardian Life InsuranceCompany of America

• Oman Investment Fund (tbc)• Universities Superannuation

Scheme• CPP Investment Board

(CPPIB)• BIMCOR • Fondo De Fondos • MetLife Investments Latin

America• VALIA - Fundaçäo Vale

do Rio Doce de SeguridadeSocial

• Hermes GPE• BNDES• Colfondos• Fundaçäo Itaú Unibanco• QIC Global Private Equity• ELOS - Fundaçäo Eletrosul

de Previdëncia e AssistënciaSocial

• Profuturo• Pantheon• TNA Gestão Patrimonial• InVita Seguros de Vida y

Pensiones

• Partners Group• Siguler Guff • Prudential Real Estate

Investors• IFC• Cassa Depositi e Prestiti• Unigestion• Banco Votorantim• SEB• Obviam• Arcano• OPIC• TwinFocus Capital Partners• National Holding • Ocroma Alternative

Investments• Banif Investment Bank • Commonfund Capital• Quilvest Group• 57 Stars• Granite Capital Management • Serasi Capital • PECA • CIR Group• AR Investment Partners • DEG• Invesco Private Captial

• Werner & Associados• AllState • Adams Street Partners• Finplan• Bancóldex • Fides Asset Management• Swiss Re Private Equity

Partners • Morgan Stanley Alternative

Investment Partners• Capital Dynamics• Fundación Avina • Metrus• Hamilton Lane • Paul Capital Partners• Sarona Asset Management• Mexico Ventures• Fundação Real Grandeza• StepStone Global• Robeco Private Equity • AlpInvest• BlackRock Private Equity

Partners • Inter-American Development

Bank• QIC

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120+

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The Pan-Latin American Private Equity & Venture Capital SummitO Summit Latino-Americano Sobre Private Equity & Venture Capital

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Network With Industry Titans Including:Faça Networking com os Titãs da Indústria Incluindo:

100+ Outstanding Speakers/ Palestrantes de Referência70+ LPs & FoFs

Industry Leaders/ Líderes da Indústria

2nd Annual

Michael Dymond UNIVERSITIES

SUPERANNUATIONSCHEME

David Turner THE GUARDIAN LIFE

INSURANCE COMPANY OF

AMERICA

Mario CortésMETLIFE

INVESTMENTS LATIN AMERICA

Julie Gray CPP INVESTMENTBOARD (CPPIB)

Mauricio da RochaWanderley

FUNDAÇÃO VALE DORIO DOCE DE SEGURIDADE

SOCIAL

Charles R. Kaye

WARBURG PINCUS

Antonio Bonchristiano

GP INVESTIMENTOS

Howard MarksOAKTREE CAPITAL

MANAGEMENT

J. Christopher Kojima

GOLDMAN SACHS

Fernando Borges THE CARLYLE

GROUP

Conference organised by

New! Workshop: Private Equity As An Asset Class

Monday 12th March 2012

Novo! Workshop: Private Equity como Classe

de AtivosSegunda-feira, 12 de março de 2012

Led by/ Liderado por: Adalberto Brandão, COO, GVCEPE

Luís Afonso LimaTELEFONICADO BRASIL

Pedro Carvalho de MelloESCOLA

SUPERIOR DE ADMINISTRAÇAO

E GESTAO(ESAGS)

Liliana Rojas-SuarezCENTER FOR

GLOBAL DEVELOPMENT

Special Guest SpeakersPalestrantes Especiais Convidados

Scan withsmartphone QR Reader

AppFollow us on

Plus! LP SummitMonday 12th March 2012 / Segunda-feira, 12 de março de 2012

25+ Speakers Confirmed Including:Mais de 25 Palestrantes Confirmados Incluindo:

IFC, PECA, SEB, ARCANO, SIGULER GUFF, CIR GROUP, COMMONFUND CAPITAL, INVESCO PRIVATE CAPITAL, FINPLAN,

CAPITAL DYNAMICS, NATIONAL HOLDING, HERMES GPE, OAKTREECAPITAL MANAGEMENT, ADAMS STREET PARTNERS, QIC & more

FKR2326 SR LA 2012_Superreturn A3 11 31/10/2011 16:37

2

DAY 1 – TUESDAY 13TH MARCH 2012 - MAIN CONFERENCE DAY 2 – WEDNESDAY 14TH MARCH 2012 - MAIN CONFERENCE 08.15 Coffee & Registration

08.35 Chairman’s Opening & Welcome

08.45GLOBAL ECONOMIC ADDRESS

How Does Turmoil In Advanced Economies And General Uncertainty & Volatility Affect Economic Prospects In Latin America?

Liliana Rojas-Suarez, Economist, Senior Fellow, CENTER FOR GLOBAL DEVELOPMENT

09.25

BEYOND BRAZILWhere Next For International LPs? Which Markets Are Most Attractive & Why? How Will These

Markets Manage An Influx Of Capital & Will Current Investment Trends Be Sustainable? Michael Dymond, Senior Investment Manager, Private Markets

UNIVERSITIES SUPERANNUATION SCHEMEAmin Al-Rashid, Managing Partner, AR INVESTMENT PARTNERS

William Pearce, Director, Investment FundsOVERSEAS PRIVATE INVESTMENT CORPORATION (OPIC)

Maninder Saluja, Partner, QUILVEST GROUP

09.55 KEYNOTE ADDRESSCharles R. Kaye, Co-President, WARBURG PINCUS

10.20

PORTFOLIO COMPANY CASE STUDYOne Portfolio Company’s Experience Of Private Equity Investment & Exit? How

Was Value Added & What Are The Lessons Learned?Eugenio de Zagottis, Commercial Vice-President, DROGA RAIA

Interviewed by: Vinicius Pinheiro, Reporter, VALOR ECONOMICO 10.40 Morning Coffee

11.10

Where Is The “B” In BRIC?What Are The Similarities & Differences Between The BRIC Economies? What Are The Long-Term Macroeconomic, Demographic & Geopolitical Trends & How Are The Risks

Associated With Each Economy Changing?Pedro Carvalho de Mello, Professor of Economics

ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS)

11.50

LP PERSPECTIVES ON THE BRIC ECONOMIESHow Are LPs Changing Their Allocations Within The BRIC Economies? How Do They Analyse The

GP Environment, Deal Flow, Exit Opportunities & Return Expectations? What Are The Most Important Factors To Consider When Allocating To BRIC Private Equity?Moderator: Pedro Carvalho de Mello, Professor of Economics

ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS)Lokendra Jain, Investment Director, OMAN INVESTMENT FUND (tbc)

Brian Lim, Principal, PANTHEONNicolas Drapeau, Director, Private Markets, BIMCOR

J. Christopher Kojima, Managing Director, Head of Alternative Investments & Manager Selection, GOLDMAN SACHS

12.20INTERACTIVE POLLING PANEL

Where Are The Big Opportunities In & What Are The Potential Threats To Latin American Private Equity?

13.00

Lunch - Plus! ‘Meet The LP’ Lunch TablesSign up to share lunch and informal conversation with LPs & VIP Speakers, including:

Michael Dymond, Senior Investment Manager, Private Markets, UNIVERSITIES SUPERANNUATION SCHEMEMateo Ossa, Vice-President, Investments, COLFONDOS, Rene Werner, Partner, WERNER & ASSOCIADOS

Amin Al-Rashid, Managing Partner, AR INVESTMENT PARTNERS, Nicolas Drapeau, Director, Private Markets, BIMCORPlus! VIP Hosted Tables

Pedro Carvalho de Mello, Professor of Economics, ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS)Liliana Rojas-Suarez, Economist, Senior Fellow, CENTER FOR GLOBAL DEVELOPMENT

STREAM A - Country Clinics STREAM B - Business Issues - Stream Chair Duncan Littlejohn, PAUL CAPITAL PARTNERS

14.30

MEXICOBenefitting From Proximity To The U.S. While

Side-Stepping Issues Around Security: Where Can Firms Add Value & Generate Alpha In the Market?

Mario Cortés, METLIFE INVESTMENTS LATIN AMERICA Felipe Vilá, CORPORACIÓN MEXICANA DE

INVERSONES DE CAPITAL (FONDO DE FONDOS)Jaime Sánchez Cortina, MEXICO VENTURESScott McDonough, ALTA GROWTH CAPITAL

BRAZILIAN LPS Where Do Brazilian LPs See The Next

Opportunities In Private Equity? How Do They SelectManagers, & Who Will They Invest With? What Returns Do

Local LPs Expect From Brazilian Private Equity?Roberto Luiz Corrêa da FonsecaTNA

GESTÃO PATRIMONIALMauricio da Rocha Wanderley, FUNDAÇÃO VALE

DO RIO DOCE DE SEGURIDADE SOCIALClarisse Heck Machado

FUNDAÇÃO REAL GRANDEZAFabio Mazzeo, METRUS

15.00

COLOMBIA: THE NEXT HOT MARKET IN PRIVATE EQUITY

How Will Colombia Absorb Increased Capital Inflows? How Limiting Is The Size Of The Market & At What Point Does The Boom Become Unsustainable? Where Are The

Investible Assets & Where Will Value Be Found?Moderator: Diego Lozano, CAMPO CAPITAL

Maria Cristina Albarracin Roldan, BANCÓLDEXMateo Ossa, COLFONDOS

Diego Serebrisky, ADVENT INTERNATIONAL

STRUCTURING BRAZILIAN FUNDSWhat Are The Options For Structuring Funds With Brazilian & International LPs? How Do You Avoid

Conflicts Of Interest & How Are Fund Terms & Conditions Evolving?

Silvia Bugelli, ALMEIDA BUGELLI E VALENÇA ADVOGADOS ASSOCIADOS

15.30

ARGENTINA: THE ONE TO WATCH?What Efforts Is The Argentine Government Making To Encourage Foreign Investment Back Into The

Country? Balancing Political & Macroeconomic Risk With Competitive Valuations, How Should Investors

Approach This Large Market?Federico Schiffrin, UNIGESTION

Jerónimo Bosch, GRUPO PEGASUS

LIQUIDITYHow Effective Is The Secondaries Market At Providing Liquidity

To Private Investments In Latin America? What Are The Current Trends & Why?

Moderator: Michael McCabe, STEPSTONE GLOBALJames Rorer, POMONA CAPITAL

Jonathan Costello, MORGAN STANLEY ALTERNATIVEINVESTMENT PARTNERS

Duncan Littlejohn, PAUL CAPITAL PARTNERSChris Perriello, ALPINVEST PARTNERS

16.00 Afternoon Tea - Plus LP/GP Structured Speed Networking

STREAM A - Country Clinics Cont. STREAM B - Latin America On The Ground’ Knowledge-Share Sessions

16.40

BRAZIL: WHERE ARE THE BEST OPPORTUNITIES?Where Are The Key Opportunities In Brazil & What

Strategies Have Been Successful In Maximising These? How Might The Brazilian Macroeconomic Environment

Change Private Equity Investments In The Coming Future? Ricardo Fernandez Jr, HAMILTON LANE

Nicolas Wollak, AXXON GROUPCarlos Piani, VINCI PARTNERS

Fernando Borges, THE CARLYLE GROUPSidney Chameh, ABVCAP

A series of small workshop groups focusing on topics facing LatinAmerican managers & their investors. The sessions

deal with the ‘how to’ of structuring deals and dealing with specific issues around private equity in Latin America.

1. INSTITUTIONALISATION OF FAMILY BUSINESSESWhat Does Private Equity Bring To Family Businesses? How DoFirms Source Deals & Gain Access, & What Are The Strategies

For Professionalisation, Growth & Dealing With GenerationalChange?

Rene Werner, WERNER & ASSOCIADOS2. POOL OF TALENT

How Are Challenges Overcome In Sourcing, Retaining &Incentivising The Very Best Portfolio Company Managers?

3. CURRENCIESHow Do Managers Deal With Currency Volatility While

Delivering A Sustainable Return To Investors?4. TAX REGIMES

Comparing Changing Tax & Regulatory Regimes In Latin American Jurisdictions: What Do LPs & GPs

Need To Be Aware Of?

17.10

FIRST TIME FUNDSHow Does A First Time Fund Attract The Interest Of LPs?

How Does The Performance Of First Time Funds Compare With That Of More Established Firms?

Moderator: Lynn Baranski, BLACKROCK PRIVATE EQUITY PARTNERS

Adele Tilebalieva, OBVIAMJoachim Schumacher, DEG

Susana Garcia-RoblesMIF, INTER-AMERICAN DEVELOPMENT BANK

17.40-18.40 Sector Specific Champagne Roundtable Discussions - See page 8 for details

18.00-19.30 Gala Networking Reception

19.30 End of Day One

08.25 Coffee & Registration


08.45

GLOBAL VS. PAN-REGIONAL VS. COUNTRY-SPECIFIC FUNDS VS. FUNDS OF FUNDSWhat Is The Best Way To Gain Exposure To Latin American Private Equity? What Is The Rationale For

Investing In Each Type Of Fund & What Is The Trade-Off Between Depth & Breadth?Moderator: Inés Andrade Moreno, Managing Partner, ALTAMAR PRIVATE EQUITY

Federico Schiffrin, Senior Vice President, UNIGESTIONMario Cortés, Director, METLIFE INVESTMENTS LATIN AMERICA Paul Karger, Managing Partner, TWINFOCUS CAPITAL PARTNERS

Erwin Quartel, Investment Director, ROBECO PRIVATE EQUITY

09.15

LATIN AMERICAN POOLS OF CAPITALAnalysing The Regulatory Changes Enabling Latin American LPs To Invest More Significantly In Private Equity: How Are Peruvian, Colombian & Chilean Investors Responding To The Changing

Environment? What Are The Barriers To Further Investment Into Private Equity Globally?Javier Freyre, CEO, INVITA SEGUROS DE VIDA Y PENSIONES

Mateo Ossa, Vice-President, Investments, COLFONDOSJorge Eduardo Espada Salazar, Risk Manager, PROFUTURO

09.45 KEYNOTE ADDRESSAntonio Bonchristiano, Co-Chairman & Co-CEO, GP INVESTIMENTOS

10.10

THE SUPERRETURN LATIN AMERICA DEBATEWhat Is The Best Way To Gain Exposure To Brazil? How Do You Balance Returns With Liquidity?

Each speaker has 5 minutes to make their case, followed by Q&A from the floor. The audience will vote to decide the winning strategy:

10.10 – 10.25 Moderator: Mark O’Hare, Managing Director, PREQINPrivate Equity: Patrice Etlin, Managing Partner, Latin America, ADVENT INTERNATIONAL

Public Markets: Marc Fogassa, Founder & Managing Partner, HEDGEFORT CAPITALReal Estate: Paulo Roberto Almeida Lima, CEO, PATRINVEST

10.25 – 10.40 Followed by panel discussion and Q&APatrice Etlin, Managing Partner, Latin America, ADVENT INTERNATIONAL

Marc Fogassa, Founder & Managing Partner, HEDGEFORT CAPITAL Paulo Roberto Almeida Lima, CEO, PATRINVEST

10.40 Morning Coffee

11.00

BRAZILIAN INVESTOR REGULATIONSTo What Extent Are Regulations Surrounding Brazilian LPs Deterring International Investment Into Brazilian Funds? What Does This Mean For Brazilian Private Equity & What Will Be The

Driver Of Change In The Way Local LPs Invest?Moderator: Otávio Vieira, Partner, FIDES ASSET MANAGEMENT

Carlos Augusto F. de Carneiro, Portfolio Manager, BNDESJulie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)

Mauricio da Rocha Wanderley, CIOFUNDAÇÃO VALE DO RIO DOCE DE SEGURIDADE SOCIAL

Gabriel Amado de Moura, Director of Investments, FUNDAÇÃO ITAÚ UNIBANCO

11.30

MID MARKETIs The Real Opportunity In The Mid Market? How Is Increased Competitiveness In This

Segment Impacting The Return Potential? How Are Innovative Firms Sourcing The Best Deals?Moderator: Malcolm McLelland, Director - Research and Analytical Services, EQUILIBRIO CAPITAL BRASIL

Alexandre Saigh, Managing Partner & Head of Private Equity, PÁTRIA INVESTIMENTOSErik Peterson, Regional Managing Partner, AUREOS LATIN AMERICA

Jose Fernandez, Managing Director, STEPSTONE GLOBAL

12.00

BRAZIL MACROECONOMIC ADDRESSIs The Current Strong Growth Of The Brazilian Economy Ultimately Sustainable?

Examining Volatility In Inflation & Interest Rates, Currency Valuation & Capital Flows: How Dependent Is Brazil On The Asian Growth Story & What Would Happen If Asian Growth Slows?

Luís Afonso Lima, Chief Economist, Finance Director, TELEFONICA DO BRASIL

12.40Delegate Quickfire Showcase

In this informal session, delegates will have 90 seconds to promote their fund to a panel of LPs without using fund data, statistics or overt comparisons to other funds. Our expert LP judging panel give each

delegate a score out of 10 for content, style and presentation and the winner receives a fabulous prize.

13.00

Lunch - Plus! ‘Meet The LP’ Lunch TablesSign up to share lunch and informal conversation with LPs & VIP Speakers:

Otávio Vieira, Partner, FIDES ASSET MANAGEMENT Carlos Augusto F. de Carneiro, Portfolio Manager, BNDESJulie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)

Plus! VIP Hosted Table Luís Afonso Lima, Chief Economist, Finance Director, TELEFONICA DO BRASIL

STREAM A - Sectors & Asset Classes STREAM B - Business IssuesStream Chair: Mark O’Hare, PREQIN

14.15

THE TREND TOWARDS SECTOR SPECIFIC FUNDSIs The Latin American Private Equity Market Mature

Enough To Sustain Sector Specific Funds? Which Sectors Support Specific Funds & How Does

The Risk/Return Profile Compare With That Of Generalist Funds?

Christopher Meyn, GÁVEA INVESTIMENTOS

ADDING VALUEHow Easy Is It For Managers To Add Value To PortfolioCompanies In Latin America? What Does Private Equity

Bring To The Table & What Is The Scope For Regionalisation?

14.45

ENERGY & NATURAL RESOURCESA Comparison Of Opportunities In Energy &

Natural Resources In The Various Latin American Markets: How Does Private Equity Get Access To

These Opportunities & Are The Risks Appropriate For The Asset Class?

Luiz Armando Sedrani, BANCO VOTORANTIM Erik Bethel, SINOLATIN CAPITAL

Ben McKeown, SENTIENT GROUP

FUNDS OF FUNDSWhat Niche Are Funds Of Funds Finding In Latin America?What Justification Do They Provide For An Extra Layer Of

Fees?Steve Cowan, 57 STARS

Gerhard Pries, SARONA ASSET MANAGEMENTArslan Mian

BLACKROCK PRIVATE EQUITY PARTNERS

15.15

REAL ESTATE Where Are The Best Real Estate Opportunities In LatinAmerica? Who Is Active In This Asset Class & Where

Does Latin American Real Estate Fit In An Alternatives Portfolio?

Adrián Aguilera, VERTEX REAL ESTATE INVESTORSPedro Barcos

PRUDENTIAL REAL ESTATE INVESTORSPaulo Roberto Almeida Lima, PATRINVEST

FUNDRAISING OUTLOOKExamining The Bifurcation Of Managers: Who Will Raise

Funds Easily & Why? What Happens To The Rest?Mark O’Hare, PREQIN

15.45 Afternoon Tea

16.10

RENEWABLESWhere In The Renewables Sector Are The Investible

Assets For Private Equity? How Are Government Incentives Changing In The Various Jurisdictions?Ricardo Pedrosa, BANIF INVESTMENT BANK

Rogério Brenand PazzimELOS - FUNDAÇÃO ELETROSUL DE PREVIDÊNCIA E

ASSISTÊNCIA SOCIAL

ESGThe Evolution Of Socially Responsible Investing & ESG.

What Are The Drivers Of This Trend & What Do LPs Expect From GPs In Terms Of Governance,

Transparency & Information?Stephen Fischer, BLUE ORCHARD INVESTMENTS

Joachim Schumacher, DEG

16.40

INFRASTRUCTURE IN BRAZILWhat Opportunities Are Becoming Available Linked To

The Large Upcoming Sporting Events? Is There More ToBrazilian Infrastructure Than The Olympics? How Open Is

The Government To Enabling Foreign Investment InInfrastructure To Generate Appropriate Returns?

Moderator: Ricardo PedrosaBANIF INVESTMENT BANK

Eduardo Farhat, DARBY OVERSEAS INVESTMENTSRenato Mazzola, BTG PACTUAL

Allan Haddid, BRZ INVESTIMENTOS

CASE STUDY ON IMPACT INVESTINGHow Is Impact Measured & What Are Appropriate

Return Expectations?Maria Cavalcanti, FUNDACIÓN AVINA

17.10 End of Conference

LP

LP

LP

LP

LP

Debate

LP

Fundraising

See page 6 for key to symbols


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PRIMEIRO DIA - TERÇA-FEIRA, 13 DE MARÇO DE 2012 SEGUNDO DIA - QUARTA-FEIRA, 14 DE MARÇO DE 201208.15 Café e Credenciamento

08.35 Boas vindas e abertura do presidente de mesa

08.45CONSIDERAÇÕES SOBRE A ECONOMIA GLOBAL

Como a Situação Tumultuada nas Economias Avançadas, a Incerteza Geral e a Volatilidade Podem Afetar as Perspectivas Econômicas na América Latina?

Liliana Rojas-Suarez, Economist, Senior Fellow, CENTER FOR GLOBAL DEVELOPMENT

09.25

ALÉM DO BRASILPara Onde os Investidores Internacionais Devem Caminhar? Quais os Mercados mais

Atraentes e Por quê? Como Esses Mercados Irão Lidar com a Entrada de Capital? E ainda,as Tendências Atuais de Investimentos Serão Sustentáveis?

Michael Dymond, Senior Investment Manager, Private MarketsUNIVERSITIES SUPERANNUATION SCHEME

Amin Al-Rashid, Managing Partner, AR INVESTMENT PARTNERSWilliam Pearce, Director, Investment Funds,OVERSEAS PRIVATE INVESTMENT CORPORATION (OPIC)

Maninder Saluja, Partner, QUILVEST GROUP

09.55 CONSIDERAÇÕES DO KEYNOTE SPEAKERCharles R. Kaye, Co-President, WARBURG PINCUS

10.20

ESTUDO DE CASO DE UMA EMPRESA DE PORTFÓLIO Conheça a Experiência do CEO de uma Empresa de Portfólio com o Private Equity e Saída de

Investimento. Como Foi Possível Agregar Valor ao Negócio e Quais as Lições Aprendidas?Eugenio de Zagottis, Commercial Vice-President, DROGA RAIA

Entrevistado por: Vinicius Pinheiro, Reporter, VALOR ECONOMICO 10.40 Coffee Break da Manhã

11.10

Onde Está o “B” no BRIC?Quais São as Principais Similaridades e Diferenças entre as Economias do BRIC? Qual é o Cenário

Macroeconômico no Longo Prazo? Quais São as Tendências Demográficas e Geopolíticas? E Quais São os Riscos Associados a Cada Mudança Econômica?

Pedro Carvalho de Mello, Professor of EconomicsESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS)

11.50

PERSPECTIVAS PARA OS INVESTIDORES NAS ECONOMIAS DO BRIC Como os Investidores Estão Mudando Suas Estratégias de Alocação Entre as Economias do BRIC?

De que Forma Eles Analisam o Ambiente dos Gestores, Fluxo de Negociação, Oportunidades de Saídas de Investimento e Expectativas de Retorno? Quais os Fatores mais Importantes no Momento da

Alocação em Private Equity no BRIC?Moderator: Pedro Carvalho de Mello, Professor of Economics

ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS)Lokendra Jain, Investment Director, OMAN INVESTMENT FUND (tbc)

Brian Lim, Principal, PANTHEONNicolas Drapeau, Director, Private Markets, BIMCOR

J. Christopher Kojima, Managing Director, Head of Alternative Investments & Manager Selection, GOLDMAN SACHS

12.20PAINEL ELETRÔNICO DE VOTAÇÃO

Onde Estão as Grandes Oportunidades e Quais são as Potenciais Ameaças para o Private Equity na América Latina?

13.00

Almoço - Mesas de almoço temáticas: “Encontro com o Investidor”Faça sua inscrição para almoçar e ter um bate-papo informal com os seguintes investidores e palestrantes VIP:

Michael Dymond, Senior Investment Manager, Private Markets, UNIVERSITIES SUPERANNUATION SCHEMEMateo Ossa, Vice-President, Investments, COLFONDOS, Rene Werner, Partner, WERNER & ASSOCIADOS

Amin Al-Rashid, Managing Partner, AR INVESTMENT PARTNERS, Nicolas Drapeau, Director, Private Markets, BIMCORMesas de Almoço VIP

Pedro Carvalho de Mello, Professor of Economics, ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS)Liliana Rojas-Suarez, Economist, Senior Fellow, CENTER FOR GLOBAL DEVELOPMENT

SESSÃO A - Country Clinics SESSÃO B - Foco nos Negócios - Stream ChairDuncan Littlejohn, PAUL CAPITAL PARTNERS

14.30

MÉXICOComo Tirar Proveito da Proximidade dos Estados UnidosEnfrentando Desafios na Segurança: Onde As Empresas

Podem Gerar Valor e Retornos Superiores neste Mercado?Mario Cortés, METLIFE INVESTMENTS LATIN AMERICA

Felipe Vilá, CORPORACIÓN MEXICANA DE INVERSONES DE CAPITAL (FONDO DE FONDOS)

Jaime Sánchez Cortina, MEXICO VENTURESScott McDonough, ALTA GROWTH CAPITAL

INVESTIDORES BRASILEIROS Onde os LPs Brasileiros Vêm Enxergando Oportunidades de

Negócios no Private Equity? Como eles Escolhem seusGestores e Com quem Costumam Investir? Quais Retornos

os Investidores Esperam do Private Equity no Brasil?Roberto Luiz Corrêa da Fonseca, TNA

GESTÃO PATRIMONIALMauricio da Rocha Wanderley, FUNDAÇÃO VALE

DO RIO DOCE DE SEGURIDADE SOCIALClarisse Heck Machado, FUNDAÇÃO REAL

GRANDEZAFabio Mazzeo, METRUS

15.00

COLÔMBIA: UM MERCADO QUE COMEÇA A SEAQUECER NO PRIVATE EQUITY

Como a Colômbia Irá Absorver o Aumento de Entrada deCapital? De que Forma o Tamanho do Mercado Pode Ser um

Limite e em Que Ponto o Boom Ficará Insustentável?Moderator: Diego Lozano, CAMPO CAPITAL

Maria Cristina Albarracin Roldan, BANCÓLDEXMateo Ossa, COLFONDOS

Diego Serebrisky, ADVENT INTERNATIONAL

ESTRUTURANDO FUNDOS BRASILEIROS Quais São as Opções para Estruturação de Fundos com Investidores Brasileiros e Estrangeiros? Como

Evitar Conflitos de Interesse e Quais São os Termos e Condições Envolvidos nos Fundos?

Silvia Bugelli, ALMEIDA BUGELLI E VALENÇA ADVOGADOS ASSOCIADOS

15.30

ARGENTINA: SERÁ QUE VALE A PENA?Que Esforços o Governo Argentino Tem Feito para Atrair o Investimento Estrangeiro de Volta ao País? Como os Investidores Devem Se Aproximar deste

Mercado Tão Grande Considerando o Balanceamentoentre Política, Risco do Ponto de Vista

Macroeconômico e Valuations Competitivos?Federico Schiffrin, UNIGESTION

Jerónimo Bosch, GRUPO PEGASUS

LIQUIDEZComo os Mercados Secundários Podem Ser Efetivos na Oferta

de Liquidez em Investimentos Privados na América Latina? Quais São as Tendências mais Atuais e Por quê?

Moderador: Michael McCabe, STEPSTONE GLOBALJames Rorer, POMONA CAPITAL

Jonathan Costello, MORGAN STANLEY ALTERNATIVEINVESTMENT PARTNERS

Duncan Littlejohn, PAUL CAPITAL PARTNERSChris Perriello, ALPINVEST PARTNERS

16.00 Coffee Break da Tarde - Extra! Speed Networking com GPs e LPs

SESSÃO A - Continuação - Country Clinics SESSÃO B - Sessão ‘On The Ground’ América Latina: Compartilhe seus Conhecimentos

16.40

BRASIL: ONDE ESTÃO AS MELHORESOPORTUNIDADES?

Quais São as Melhores Oportunidades no Brasil e Quais Sãoas Estratégias Mais Eficientes para Maximizar o Sucesso?

Como as Mudanças no Ambiente Macroeconomico BrasileiroPodem Mudar o Investimento em Private Equity no Futuro?

Ricardo Fernandez Jr, HAMILTON LANENicolas Wollak, AXXON GROUPCarlos Piani, VINCI PARTNERS

Fernando Borges, THE CARLYLE GROUPSidney Chameh, ABVCAP

Série de pequenos workshops focados nos tópicos que maisafetam os gerstores de private equity na América Latina e seus

investidores. As sessões abordarão o "como fazer" naestruturação de negociações e com questões específicas

relacionadas ao private equity na América Latina.1. INSTITUCIONALIZAÇÃO DAS EMPRESAS FAMILIARESO que o Private Equity Pode Agregar às Empresas Familiares?Como essas Empresas Podem Render Bons Negócios e Quaisas Estratégias para Profissionalização, Crescimento e para se

Lidar com a Sucessão Na Gestão?Rene Werner, WERNER & ASSOCIADOS

2. POOL DE TALENTOSComo Superar Desafios no Recrutamento, Retenção e Incentivodos Melhores Profissionais de Nível Gerencial nas Empresas?

3. CÂMBIODe que Maneira os Gestores Conseguem Lidar com a

Volatilidade do Cambio e ao Mesmo Tempo Entregar RetornosSustentáveis a seus Investidores?

4. REGIMES TRIBUTÁRIOSComo Estabelecer uma Comparação entre as Mudanças deRegimes Tributários e Regulatórios nos Países da AméricaLatina: Sobre Quais Pontos Investidores e Gestores Devem

Ficar Atentos?

17.10

FUNDOS INICIANTES Como um Fundo que Está Iniciando Pode Atrair o Interesse

dos Investidores? Como Estabelecer uma Comparação entre o Desempenho de um Fundo Iniciante e de uma

Empresa com maior Experiência?Moderator: Lynn Baranski, BLACKROCK

PRIVATE EQUITY PARTNERSAdele Tilebalieva, OBVIAMJoachim Schumacher, DEG

Susana Garcia-RoblesMIF, INTER-AMERICAN DEVELOPMENT BANK

17.40-18.40 Mesas Redondas Setoriais com Champanhe - Veja a Página 8 Para Obter Mais Detalhes

18.00-19.30 Coquetel e Networking19.30 Encerramento do Primeiro Dia

08.25 Café e Credenciamento


08.45

FUNDOS GLOBAIS x FUNDOS PAN-REGIONAIS x FUNDOS LOCAIS x FUNDOS DE FUNDOSQual a Melhor Forma de Conquistar Exposição em Private Equity na América Latina? Quais as Razões para se Investir em cada tipo de Fundo? Quais os Prós e Contras do Aprofundamento e da Amplitude?

Moderador: Inés Andrade Moreno, Managing Partner, ALTAMAR PRIVATE EQUITYFederico Schiffrin, Senior Vice President, UNIGESTION

Mario Cortés, Director, METLIFE INVESTMENTS LATIN AMERICA Paul Karger, Managing Partner, TWINFOCUS CAPITAL PARTNERS

Erwin Quartel, Investment Director, ROBECO PRIVATE EQUITY

09.15

RESERVAS LATINO AMERICANASAnalise as Mudanças Regulatórias que Permitem que LPs Latino Americanos Invistam de Forma mais

Significativa em Private Equity: Como Investidores do Peru, Colômbia e Chile Estão Reagindo ao Ambiente em Transformação? Quais São as Barreiras Existentes para Investimento em Private Equity Globalmente?

Javier Freyre, CEO, INVITA SEGUROS DE VIDA Y PENSIONESMateo Ossa, Vice-President, Investments, COLFONDOS

Jorge Eduardo Espada Salazar, Risk Manager, PROFUTURO

09.45 CONSIDERAÇÕES DO KEYNOTE SPEAKERAntonio Bonchristiano, Co-Chairman & Co-CEO, GP INVESTIMENTOS

10.10

DEBATE SUPERRETURN LATIN AMERICA Qual a Melhor Forma de se Ganhar Exposição no Brasil? Como Equalizar Retornos com Liquidez?

Cada palestrante terá 5 minutos para apresentar seu estudo de caso, com posterior espaço para perguntas e respostas. A audiência irá eleger a estratégia vencedora:

10.10 – 10.25 Moderator: Mark O’Hare, Managing Director, PREQINPrivate Equity: Patrice Etlin, Managing Partner, Latin America, ADVENT INTERNATIONALMercado de Ações: Marc Fogassa, Founder & Managing Partner, HEDGEFORT CAPITAL

Imobiliário: Paulo Roberto Almeida Lima, CEO, PATRINVEST10.25 – 10.40 Na sequência, painel de discussões e perguntas e respostasPatrice Etlin, Managing Partner, Latin America, ADVENT INTERNATIONAL

Marc Fogassa, Founder & Managing Partner, HEDGEFORT CAPITAL Paulo Roberto Almeida Lima, CEO, PATRINVEST

10.40 Coffee Break da Manhã

11.00

REGULAÇÃO IMPOSTA AOS INVESTIDORES BRASILEIROS Até que Ponto as Regulações Impostas aos Investidores Brasileiros Estão Inibindo o Investimento

Internacional em Fundos Brasileiros? O que Isso Significa para o Private Equity Brasileiro e O que Motivará os LPs Locais a Mudarem Sua Maneira de Investir?

Moderador: Otávio Vieira, Partner, FIDES ASSET MANAGEMENT Carlos Augusto F. de Carneiro, Portfolio Manager, BNDESJulie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)

Mauricio da Rocha Wanderley, CIOFUNDAÇÃO VALE DO RIO DOCE DE SEGURIDADE SOCIAL

Gabriel Amado de Moura, Director of Investments, FUNDAÇÃO ITAÚ UNIBANCO

11.30

MID MARKETAs Reais Oportunidades Estão Mesmo no Mid Market? De que Forma a Competitividade Cada Vez MaisIntensa Neste Segmento Está Impactando o Potencial de Retorno? Como as Empresas Inovadoras Estão

Despontando como os Melhores Negócios?Moderador: Malcolm McLelland, Director, Research & Analytical Services, EQUILIBRIO CAPITAL BRASIL

Alexandre Saigh, Managing Partner & Head of Private Equity, PÁTRIA INVESTIMENTOSErik Peterson, Regional Managing Partner, AUREOS LATIN AMERICA

Jose Fernandez, Managing Director, STEPSTONE GLOBAL

12.00

CONSIDERAÇÕES SOBRE A MACROECONOMIA NO BRASIL Será que o Crescimento Intenso da Economia Brasileira É Realmente Sustentável? De que Forma o País é

Dependente do Crescimento Asiático e o que Aconteceria se a Ásia Sofresse com a DesaceleraçãoConsiderando a Volatilidade na Inflação e Taxas de Juros, Valorização do Câmbio e Fluxos de Capital?

Luís Afonso Lima, Chief Economist, Finance Director, TELEFONICA DO BRASIL

12.40Delegate Quickfire Showcase

Nesta sessão informal, os participantes terão 90 segundos para promover seu fundo a um painel de investidores sem utilizar dados do fundo, estatísticas ou comparações com outros fundos. Nosso júri de investidores dará a cada

participante uma nota que vale até 10 para o conteúdo, o estilo e a apresentação. O vencedor levará um prêmio incrível

13.00

Almoço - Mesas de almoço temáticas: “Encontro com o Investidor”Faça sua inscrição para almoçar e ter um bate-papo informal com os seguintes investidores e palestrantes VIP:

Otávio Vieira, Partner, FIDES ASSET MANAGEMENT Carlos Augusto F. de Carneiro, Portfolio Manager, BNDESJulie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)

Mesas de Almoço VIPLuís Afonso Lima, Chief Economist, Finance Director, TELEFONICA DO BRASIL

SESSÃO A - Setores e Classes de Ativos SESSÃO B - Negócios em FocoStream Chair: Mark O’Hare, PREQIN

14.15

TENDÊNCIA EM FUNDOS SETORIAIS Será que o Mercado Latino Americano Está Maduro oSuficiente para Sustentar os Fundos Setoriais e Como

Comparar Risco e Retorno nesses Fundos com os Fundos de Perfil Mais Generalista?

Christopher Meyn, GÁVEA INVESTIMENTOS

AGREGANDO VALOR Qual o Grau de Facilidade para que os Gestores Agreguem

Valor às Empresas de Portfólio na America Latina? O que O Private Equity Traz para o Cenário e Qual é o

Escopo da Regionalização?

14.45

ENERGIA E RECURSOS NATURAIS Comparativo das Oportunidades em Energia e

Recursos Naturais nos Diversos Mercados da AméricaLatina: Como o Private Equity Pode Aproveitar essasOportunidades e Será que os Riscos São Apropriados

a esta Classe de Ativos?Luiz Armando Sedrani, BANCO VOTORANTIM

Erik Bethel, SINOLATIN CAPITALBen McKeown, SENTIENT GROUP

FUNDOS DE FUNDOSEm Quais Nichos os Fundos de Fundos Estão Focando

na America Latina? Como Eles Justificam as Taxas Extras que São Cobradas?

Steve Cowan, 57 STARSGerhard Pries, SARONA ASSET MANAGEMENT

Arslan MianBLACKROCK PRIVATE EQUITY PARTNERS

15.15

IMOBILIÁRIOQuais as Melhores Oportunidades em Real Estate naAmérica Latina? Quem se Destaca nesta Classe de Ativos e Onde o Real Estate Latino Americano se

Encaixa em um Portfólio?Adrián Aguilera, VERTEX REAL ESTATE INVESTORS

Pedro BarcosPRUDENTIAL REAL ESTATE INVESTORS

Paulo Roberto Almeida Lima, PATRINVEST

PANORAMA DO FUNDRAISINGUma Análise sobre a Divisão de Gestores: Quem Irá

Levantar Fundos Mais Facilmente e Por quê? O que Acontece com o Resto?

Mark O’Hare, PREQIN

15.45 Coffee Break da Tarde

16.10

RENOVÁVEISDe que Forma o Setor de Energias Renováveis se

Configura como um Ativo Interessante para o PrivateEquity? Como os Incentivos Governamentais têm Mudado

nos Países da América Latina?Ricardo Pedrosa, BANIF INVESTMENT BANK

Rogério Brenand Pazzim, ELOS - FUNDAÇÃO ELETROSUL DE PREVIDÊNCIA E

ASSISTÊNCIA SOCIAL

SUSTENTABILIDADE, RESPONSABILIDADE SOCIAL E AMBIENTAL

A Evolução do Investimento Socialmente Responsável eSustentável. Quais São os Motivadores dessas Tendências e

o Que os Investidores podem Esperar dos Gestores emTermos de Governança, Transparência e Informação?Stephen Fischer, BLUE ORCHARD INVESTMENTS

Joachim Schumacher, DEG

16.40

INFRAESTRUTURA NO BRASILQuais as Oportunidades que Estão Surgindo em

Decorrência dos Grandes Eventos Esportivos que IrãoAcontecer? Essas Oportunidades Irão Além dos Jogos

Olímpicos? Como o Governo Está Aberto para Permitir oInvestimento Estrangeiro e Gerar os Retornos Mais

Apropriados?Moderador: Ricardo PedrosaBANIF INVESTMENT BANK

Eduardo Farhat, DARBY OVERSEAS INVESTMENTSRenato Mazzola, BTG PACTUAL

Allan Haddid, BRZ INVESTIMENTOS

ESTUDO DE CASO SOBRE O IMPACTO DOINVESTIMENTO

Como Mensurar o Impacto e Quais São as Expectativas de Retorno Mais Apropriadas?

Maria Cavalcanti, FUNDACIÓN AVINA

17.10 Fim da Conferência

LP

LP

LP

Fundraising

Debate

LP

LP

LP

Legendas para os símbolos na página 6


4

To register or for more information/ Para se increver ou para mais informações Tel. +44 (0) 20 7017 7200 • Fax. +44 (0) 20 7017 7807 • Email: [email protected]

For latest programme or to register, please visit/ Para o programa atualizado ou para se inscrever, acesse: www.superreturnlatam.com

LP SUMMIT - MONDAY 12TH MARCH 201208.30 Registration & Morning Coffee


09.00

LP VIEWS ON LATIN AMERICAWhen Is The Right Time To Enter Latin America? How Can Investors Make the Most From Long-

& Short-Term Trends & Which Sectors Do LPs Find Most Interesting?Moderator: Delaney Brown, Head of the Americas, HERMES GPE

Ralph Keitel, Principal Investment Officer, IFC Anslem Adams, Director, Senior PE Portfolio Manager, PECA

Emilio Dauvin, Director, Private Equity, SEB

09.30

ACCESSING THE LATIN AMERICAN MARKETWhat Is The Best Way To Gain Access To A Market That Still Lacks Depth? How Should LPs Approach

Issues Around Track Record, Team Stability, & Concerns Around About An Overheating Economy?Moderator: Philippe Roesch, Private Equity Advisor

Sven Söderblom, Partner, ARCANO Leonardo Ribeiro, Founding Partner, OCROMA ALTERNATIVE INVESTMENTS

Pat Dinneen, Managing Director, SIGULER GUFF & COMPANYDelaney Brown, Head of the Americas, HERMES GPE

10.00

DUE DILIGENCEDue Diligence Best Practice: How Can LPs Be Resourceful When Performing Due Diligence On Latin American Funds? What Are Recent Lessons Learned?

David Turner, Managing Director & Head of Private EquityTHE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA

Christian Coco, Investment Director, CIR GROUP Scott Higbee, Partner & Head of Americas, PARTNERS GROUP

Stephen Whatmore, Principal, QIC

10.30 KEYNOTE ADDRESSHoward Marks, Chairman, OAKTREE CAPITAL MANAGEMENT

11.00 Morning Coffee

11.30SUPERRETURN LATIN AMERICA LP INTERVIEW


12.00PERFORMANCE

Analysing Performance Of Latin American Private Equity: How Do The Returns Appear As Compared To Other Asset Classes?

Kelly DePonte, Partner, PROBITAS PARTNERS

12.20

LP VIEWS ON FUNDRAISINGThe 10 Things To Remember About LPs When Fundraising: LPs Give A Truthful Account Of Common

& Less Common Mistakes Made By GPs On The Fundraising Circuit: Listen & Learn!Moderator: Amit Tiwari, Principal, INVESCO PRIVATE CAPITAL

Ralph Keitel, Principal Investment Officer, IFC Paul Van Houtte, Head of International Equity and Funds, CASSA DEPOSITI E PRESTITI

12.50 Lunch

14.20

RISKUnderstanding The Risks Inherent In Latin American Private Equity: How Do LPs Get Comfortable With

Investing In This Region In Light Of Its Turbulent Political & Economic History? What Risks Are LPsFocusing On Today?

Moderator: Janusz Heath, Managing Director, CAPITAL DYNAMICSAmit Tiwari, Principal, INVESCO PRIVATE CAPITAL

Robert Nef, Co-Head Investor Solutions, Member of the Management TeamSWISS RE PRIVATE EQUITY PARTNERS

14.50

LP/GP ALIGNMENT OF INTERESTHow Do LPs View Recent Trends In Fees, Transparency & Terms & Conditions?

What Structures & Incentivisation Do LPs Consider To Be Most Compatible With Alignment Of Interest & How Is The Balance Of Power Changing In Latin American Private Equity?

Mark Hoeing, Director, COMMONFUND CAPITAL Walter McCormack, Co-Founder & Managing Partner, GRANITE CAPITAL MANAGEMENTPaul Van Houtte, Head of International Equity and Funds, CASSA DEPOSITI E PRESTITI

15.20 Afternoon Tea

15.50INVESTOR RELATIONS BEST PRACTICE

What Do LPs Expect From The Investor Relations Team? How Are Relationships Managed At A Distance By Both LPs & The IR Team?

Veronica John, Managing Partner, SERASI CAPITAL

16.20

MANAGER SELECTIONChoosing The Best Manager To Align With An Existing Portfolio: What Are LPs Looking For?

James L. Korczak, Partner, ADAMS STREET PARTNERSRobert Wages, Head of Private Equity, NATIONAL HOLDING

Janusz Heath, Managing Director, CAPITAL DYNAMICSRogerio Bastos, Partner, FINPLAN

16.50 End Of Summit

New! LP Closed Door SessionBy invitation only - Monday 12 March 2012 | 17:00 – 18:45

Led by: David Turner, Managing Director & Head of Private EquityTHE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA

Antonio Machado, Investment Manager, FUNDAÇÃO REAL GRANDEZAFabio Mazzeo, Chairman, METRUS

An opportunity for international institutional investors and local institutional investors to interact, pool knowledge and learnfrom each other in an exclusive setting. This session is open to pre-registered end investors by invitation only. To apply for a

place, please contact Laura Griffin at: [email protected]

New! Workshop: Private Equity As An Asset Class: AnalysingReturns, Risks & How To Invest

Monday 12 March 2012 | 10:00 – 16:00Key sessions to be covered include:

• Analysing Private Equity and its different forms• Understanding how private equity returns work

• Buyout, Buyout returns and fund sizes • The GP/LP Relationship

Liderado por: Adalberto Brandão, COO, GVCEPE

LP SUMMIT: SEGUNDA-FEIRA, 12 DE MARÇO DE 201208.30 Café da Manhã e Credenciamento


09.00

VISÕES DO INVESTIDOR SOBRE A AMÉRICA LATINA Qual é a Hora Certa para se Entrar na América Latina? Como os Investidores Podem Obter o

Melhor de Tendências de Longo e Curto Prazo e Quais os Setores Mais Interessantes?Moderador: Delaney Brown, Head of the Americas, HERMES GPE

Ralph Keitel, Principal Investment Officer, IFC Anslem Adams, Director, Senior PE Portfolio Manager, PECA

Emilio Dauvin, Director, Private Equity, SEB

09.30

ACESSO AO MERCADO LATINO AMERICANO Qual a Melhor Maneira de se Conseguir Acesso ao Mercado Latino Americano que Ainda Carece de

Aprofundamento? Como os Investidores Devem Abordar as Questões a Respeito de Repertório,Estabilidade de Equipes e Preocupações sobre o Superaquecimento da Economia?

Moderador: Philippe Roesch, Private Equity AdvisorSven Söderblom, Partner, ARCANO

Leonardo Ribeiro, Founding Partner, OCROMA ALTERNATIVE INVESTMENTS Pat Dinneen, Managing Director, SIGULER GUFF & COMPANY

Delaney Brown, Head of the Americas, HERMES GPE

10.00

DUE DILIGENCEMelhores Práticas em Due Diligence: Como os Investidores Podem Obter Recursos para a Realização

de Due Diligence nos Fundos Latino Americanos? Quais as Mais Recentes Lições Aprendidas?David Turner, Managing Director & Head of Private Equity

THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICAChristian Coco, Investment Director, CIR GROUP

Scott Higbee, Partner & Head of Americas, PARTNERS GROUPStephen Whatmore, Principal, QIC

10.30 CONSIDERAÇÕES DO KEYNOTE SPEAKERHoward Marks, Chairman, OAKTREE CAPITAL MANAGEMENT

11.00 Coffee Break da Manhã

11.30SUPER RETURN LATIN AMERICA – ENTREVISTA COM O INVESTIDOR


12.00DESEMPENHO

Uma Análise do Desempenho do Private Equity na América Latina: Como São os Retornos na Comparação com Outras Classes de Ativos?Kelly DePonte, Partner, PROBITAS PARTNERS

12.20

VISÃO DO INVESTIDOR SOBRE O FUNDRAISING As 10 Coisas Mais Importantes sobre Fundraising: Investidores Fazem um Honesto Relato sobre os Erros

Mais Comuns e Incomuns Cometidos pelos Gestores no Circuito de Fundraising: Confira e Aprenda!Moderador: Amit Tiwari, Principal, INVESCO PRIVATE CAPITAL

Ralph Keitel, Principal Investment Officer, IFC Paul Van Houtte, Head of International Equity and Funds, CASSA DEPOSITI E PRESTITI

12.50 Almoço

14.20

RISCOS Compreenda os Riscos Inerentes ao Private Equity na América Latina: Como o Investidor se Sente

Confortável ao Investir na Região Considerando o Histórico Turbulento no Cenário Político-econômico? Em quais Riscos os LPs Estão Focando Hoje?

Moderador: Janusz Heath, Managing Director, CAPITAL DYNAMICSAmit Tiwari, Principal, INVESCO PRIVATE CAPITAL

Robert Nef, Co-Head Investor Solutions, Member of the Management TeamSWISS RE PRIVATE EQUITY PARTNERS

14.50

ALINHAMENTO DE INTERESSES ENTRE GESTORES E INVESTIDORESQual a Visão dos Investidores sobre as Atuais Tendências em Taxas, Transparências e Termos e Condições?Quais Estruturas e Incentivos os Investidores Consideram mais Compatíveis com o Alinhamento de Interesses

e Como o Equilíbrio de Poder Vem Mudando no Private Equity Latino Americano?Mark Hoeing, Director, COMMONFUND CAPITAL

Walter McCormack, Co-Founder & Managing Partner, GRANITE CAPITAL MANAGEMENTPaul Van Houtte, Head of International Equity and Funds, CASSA DEPOSITI E PRESTITI

15.20 Coffee Break da Tarde

15.50MELHORES PRÁTICAS EM RELACIONAMENTO COM O INVESTIDOR

O que o Investidor Espera do Time de Relacionamento com o Investidor? Como São as RelaçõesGerenciadas à Distância por Investidores e Times de Relacionamento com o Investidor?

Veronica John, Managing Partner, SERASI CAPITAL

16.20

SELEÇÃO DO GESTOREscolha do Melhor Gestor para Alinhamento com um Portfólio já Existente:

O que os Investidores Procuram?James L. Korczak, Partner, ADAMS STREET PARTNERS

Robert Wages, Head of Private Equity, NATIONAL HOLDINGJanusz Heath, Managing Director, CAPITAL DYNAMICS

Rogerio Bastos, Partner, FINPLAN16.50 Encerramento do Summit

Novo! Sessão Secreta do InvestidorApenas através de convites

Segunda-feira, 12 de Março de 2012 | 17:00 – 18:45Led by: David Turner, Managing Director & Head of Private Equity

THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICAAntonio Machado, Investment Manager, FUNDAÇÃO REAL GRANDEZA

Fabio Mazzeo, Chairman, METRUSA oportunidade para que investidores institucionais locais e internacionais interajam, compartilhem conhecimento e

aprendam uns com os outros em uma sessão exclusiva. A sessão é aberta apenas para investidores pré-cadastrados e porconvite. Para se inscrever, entre em contato com Laura Griffin no e-mail [email protected]

Novo! Workshop: Private Equity Como Classe de Ativos:Analisando Retornos, Riscos e Por Que Investir

Monday 12 March 2012 | 10:00 – 16:00O que você irá discutir:

• Analise o Private Equity e suas diferentes formas• Entenda como funciona o retorno no Private Equity • Buyout, retornos do buyout e tamanho dos fundos

• Relação entre gestores e investidoresLed by: Adalberto Brandão, COO, GVCEPE

Speaking, Sponsorship & Exhibition Opportunities Still AvailableOportunidades de Palestras, Patrocínio e Exposição Ainda Estão Disponíveis

To promote your company to this fantastic audience please contact:Para promover sua empresa a essa fantástica audiência, entre em contato conosco:

Latin America: Kelly Naomi, tel: +55 11 3017 6843 e-mail: [email protected] of World: Ian Law, tel: +44 (0)20 7017 7297 e-mail: [email protected]

See page 6 for more details Veja a página 6 para mais detalhes

Due Diligence Due Diligence


LP SUMMIT Monday 12th March 2012LP Summit Segunda-feira, 12 de março de 2012

08.30 Coffee & Registration/ Café da Manhã e Credenciamento

08.50 Chairman's Opening & Welcome/ Boas vindas e abertura do presidente de mesa

09.00

LP VIEWS ON LATIN AMERICAWhen Is The Right Time To Enter Latin America? How CanInvestors Make the Most From Long- & Short- Term Trends &Which Sectors Do LPs Find Most Interesting?

VISÕES DO INVESTIDOR SOBRE AAMÉRICA LATINA

Qual é a Hora Certa para se Entrar na América Latina? Comoos Investidores Podem Obter o Melhor de Tendências deLongo e Curto Prazo e Quais os Setores Mais Interessantes?Moderator: Delaney Brown, Head of the Americas, HERMES GPEDelaney is responsible for all Hermes GPE’s private equity manager relationships in theAmericas and for coordinating the sourcing, due diligence and monitoring of funds and co-investments in the region. He has led the due diligence on funds across venture capital,growth and buyouts in the Americas and Europe, and holds a number of advisory boardseats. He was previously at Almeida Capital, the placement boutique, where he was involvedin the marketing of funds in the U.S., Europe and Asia.

Ralph Keitel, Principal Investment Officer, IFC The International Finance Corporation (IFC) is the World Bank Group’s private sector arm. IFC’sprivate equity funds department has invested more than US$2.6 billion in over 160 emergingmarkets. Since joining IFC in early 2006, Ralph has been responsible as regional lead for IFC’sprivate equity fund activities in Eastern Europe/Russia, Africa and now Latin America. Prior tojoining IFC, Ralph was with Caisse de Dépot et Placement de Québec (CDP) in Montréal, andspent nearly 5 years with TBG.

Anselm Adams, Director, Senior PE Portfolio Manager, PECAPECA Limited (member of ILPA) is part of Adams Capital Partners, a European family office.Anselm has over 18 years of experience in private equity investing, venture capital investing, andinvestment banking, having previously worked at Schroders, Merrill Lynch and Goldman Sachs.

Emilio Dauvin, Director, Private Equity, SEBEmilio is a Director at SEB PE, the major global PE investor in Scandinavia. SEB is a leadingbank in Northern Europe that forms the foundation of the ongoing Wallenberg dynasty. Thefamily has significant interests in corporations such as ABB, Atlas Copco, Electrolux andEricsson through Investor AB. SEB Investment Management has > EUR 130bn in AuM whereofEUR 3.5bn is in private equity with investments spanning across primaries, secondaries anddirect investments. Emilio was previously working for McKinsey & Company.

09.30

ACCESSING THE LATIN AMERICAN MARKET

What Is The Best Way To Gain Access To A Market That StillLacks Depth? How Should LPs Approach Issues Around TrackRecord, Team Stability, & Concerns Around About AnOverheating Economy?

ACESSO AO MERCADO LATINO AMERICANO

Qual a Melhor Maneira de se Conseguir Acesso ao MercadoLatino Americano que Ainda Carece de Aprofundamento?Como os Investidores Devem Abordar as Questões a Respeitode Repertório, Estabilidade de Equipes e Preocupações sobreo Superaquecimento da Economia?Moderator: Philippe Roesch, Private Equity AdvisorPhilippe Roesch is an experienced private equity investment manager with 17 years ofinternational fund-of-funds and direct investment experience, and currently provides a highquality range of advisory services. Prior to this, Philippe was Head of Private Equity atAuda, having moved on from Harald Quandt Holding, where he was Head of PrivateEquity and responsible for the family’s global portfolio of private equity funds investments.He started his career in fund-of-funds investing in the mid-1990s as a Senior InvestmentManager with Deutsche Beteiligungs-AG.

Sven Söderblom, Partner, ARCANO Since 2010, Sven has been a partner at Arcano, an independent investment managementfirm based in Madrid and New York, active in alternative asset management, corporatefinance and wealth advisory. The alternative asset management has close to US$1.5bn AUMand focuses on fund of funds, credit funds and secondary products, where Sven is specificallyfocused on emerging markets. Prior to joining Arcano, Sven was a Portfolio Director at CDCin London. Before CDC, Sven spent a number of years at the EIF in Luxembourg and beforethat, in investment banking at Alfred Berg / ABN Amro in Stockholm.

Leonardo Ribeiro, Founding PartnerOCROMA ALTERNATIVE INVESTMENTS Leonardo is a Managing Partner of Ocroma, the pioneer independent private equity fund-of-funds manager in Latin America. Working within private equity since 2002, Leonardohas become a specialist in the Latin American market, with over a dozen publications,including the authoritative text on the subject. From 2003 to 2008 he led the researchactivities of the Centre for Private Equity Research at FGV (GVcepe).

Pat Dinneen, Managing Director, SIGULER GUFF & COMPANYPatricia Dineen has primary responsibility for managing the BRIC Opportunities Funds,focusing on private equity investments in Brazil, Russia, India and China. Prior to joiningSiguler Guff in 2004, she was at Cambridge Associates where she led the emergingmarkets private equity advisory business. Previously, she worked for 10 years at BritishTelecommunications. She has also held positions at Hughes Communications, RANDCorporation, and the White House.

Delaney Brown, Head of the Americas, HERMES GPE (see above for biography)

10.00

DUE DILIGENCEDue Diligence Best Practice: How Can LPs Be ResourcefulWhen Performing Due Diligence On Latin American Funds?What Are Recent Lessons Learned?

DUE DILIGENCEMelhores Práticas em Due Diligence: Como os InvestidoresPodem Obter Recursos para a Realização de Due Diligencenos Fundos Latino Americanos? Quais as Mais RecentesLições Aprendidas?David Turner, Managing Director & Head of Private Equity, THE GUARDIANLIFE INSURANCE COMPANY OF AMERICADavid Turner joined Guardian's Investment team in June 2007 to lead the roll-out anddevelopment of their private equity investment initiative. With over 25 years experience inprivate equity investing and portfolio management, David has originated and led 95investments valued at $4.8 billion and managed portfolios totalling $17.5 billion incumulative commitments. Previously, David spent five and one-half years at WestLBMellon Asset Management as a General Partner and later as CEO and CIO of theirPrivate Equity Group. Prior to WestLB Mellon, David was Director of the AlternativeInvestments Division and Senior Portfolio Manager for the State of Michigan RetirementSystem's Alternative Investment Division.

Christian Coco, Investment Director, CIR GROUPChristian works in the investment team of CIR where he is covering LATAM and inparticular Brazil. Prior to joining CIR in May 2011, he was an Investment Director at Cube,and before that, Investment Manager at Valiance, both pan-European infrastructure funds.He also worked at L Capital, a specialised retail private equity fund sponsored by LVMH.Christian has 5 years of experience in acquisition finance gained at Mediobanca.

Scott Higbee, Partner & Head of AmericasPARTNERS GROUPScott is a Partner, head of the investment solutions Americas team and head of the NewYork office. He is also a member of the private equity North America investment committeeand has been materially involved in the firm's direct, secondary and partnership investmentactivities, and is a primary relationship manager for several leading partnerships in the US.Prior to joining Partners Group, he worked for PricewaterhouseCoopers as a seniorassociate in the firm’s capital markets practice in New York.

Stephen Whatmore, Principal, QICStephen has 18 years of experience in global private equity fund investing. From 1999 to2006, Stephen helped build and manage the global private equity program for MLCLimited, which was the first of its kind in Australia. By the time Stephen left MLC Limited,the program had grown to USD 1 billion committed to 21 private equity managers, and 46underlying funds, and was generating 10 year performance of 17.2% p.a. over MSCIWorld index. From 1992 to 1999, Stephen worked at Lend Lease Corporation, firstly inproject finance and then in direct infrastructure investment

10.30

KEYNOTE ADDRESSCONSIDERAÇÕES DO KEYNOTE SPEAKER

Howard MarksChairmanOAKTREE CAPITAL MANAGEMENTSince the formation of Oaktree in 1995, Mr. Marks has been responsible for

ensuring the firm’s adherence to its core investment philosophy, communicating closelywith clients concerning products and strategies, and managing the firm. From 1985 until1995, Mr. Marks led the groups at The TCW Group, Inc. that were responsible forinvestments in distressed debt, high yield bonds, and convertible securities. He was alsoCIO for Domestic Fixed Income at TCW.

11.00 Morning Coffee/ Coffee Break da Manhã

11.30

SUPERRETURN LATIN AMERICA LPINTERVIEW

SUPER RETURN LATIN AMERICAENTREVISTA COM

O INVESTIDORDavid Turner, Managing Director & Head of Private EquityTHE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA (see above for biography)

12.00

PERFORMANCE Analysing Performance Of Latin American Private Equity: HowDo The Returns Appear As Compared To Other Asset Classes?

DESEMPENHOUma Análise do Desempenho do Private Equity na AméricaLatina: Como São os Retornos na Comparação com OutrasClasses de Ativos?Kelly DePonte, Partner, PROBITAS PARTNERSKelly has twenty-nine years of industry experience and is responsible for ProbitasPartners' research and due diligence. Prior to joining Probitas Partners, Kelly was ChiefOperating Officer and Managing Director at Pacific Corporate Group (“PCG”), a leadingprovider of alternative investment advisory, management and consulting services. Kellyoversaw the partnership investment programme, which comprised more than $20 billion incapital dedicated globally to private equity.

12.20

LP VIEWS ON FUNDRAISINGThe 10 Things To Remember About LPs When Fundraising:LPs Give A Truthful Account Of Common & Less CommonMistakes Made By GPs On The Fundraising Circuit: Listen &Learn!

VISÃO DO INVESTIDOR SOBRE OFUNDRAISING

As 10 Coisas Mais Importantes sobre Fundraising:Investidores Fazem um Honesto Relato sobre os Erros MaisComuns e Incomuns Cometidos pelos Gestores no Circuito deFundraising: Confira e Aprenda!Moderator: Amit Tiwari, Principal, INVESCO PRIVATE CAPITALAmit joined Invesco Private Capital in 2005. He spearheads the firm’s fund sourcing andevaluation efforts in Latin America. Prior to IPC, Amit was with the California StateTeachers’ Retirement System where he invested over $125 million in VC and buyoutpartnerships. Prior to that, Amit was a part of CSFB’s Technology Private Placementspractice where he raised over $250 million for clients.

Ralph Keitel, Principal Investment Officer, IFC (see above for biography)

Paul Van Houtte, Head of International Equity and FundsCASSA DEPOSITI E PRESTITI (see above for biography)

12.50 Lunch/ Almoço

14.20

RISKUnderstanding The Risks Inherent In Latin American PrivateEquity: How Do LPs Get Comfortable With Investing In ThisRegion In Light Of Its Turbulent Political & EconomicHistory? What Risks Are LPs Focusing On Today?

RISCOS Compreenda os Riscos Inerentes ao Private Equity na AméricaLatina: Como o Investidor se Sente Confortável ao Investir naRegião Considerando o Histórico Turbulento no Cenário Político-econômico? Em quais Riscos os LPs Estão Focando Hoje?

Moderator: Janusz Heath, Managing Director, CAPITAL DYNAMICSJanusz has over 27 years of private equity experience and has a leading role indeveloping the firm’s emerging markets expertise. Prior to joining Capital Dynamics, hewas head of Central & Eastern European private equity at Allianz SpecializedInvestments (formerly Dresdner Kleinwort Capital), having previously been deputychairman and managing director of PTP-Kleinwort Benson.

Robert Nef, Co-Head Investor Solutions, Member of the Management TeamSWISS RE PRIVATE EQUITY PARTNERSRobert began his career in 1991 as a controller at Alcatel. In 1995 he joined Swiss Re asan Underwriter. From 2000 he worked in the alternative investments division, where hebecame a member of the management team. He worked as Principal and Deputy Head ofClient Relations at Horizon21 until December 2006, before rejoining Swiss Re in January2010. Swiss Re Private Equity Partners manages a portfolio of roughly USD 7.5 billion inprivate markets funds on behalf of Swiss Re and like-minded investors.

Amit Tiwari, Principal, INVESCO PRIVATE CAPITAL (see above for biography)

14.50

LP/GP ALIGNMENT OF INTERESTHow Do LPs View Recent Trends In Fees, Transparency &Terms & Conditions? What Structures & Incentivisation Do LPsConsider To Be Most Compatible With Alignment Of Interest &How Is The Balance Of Power Changing In Latin AmericanPrivate Equity?

ALINHAMENTO DE INTERESSES ENTREGESTORES E INVESTIDORES

Qual a Visão dos Investidores sobre as Atuais Tendências emTaxas, Transparências e Termos e Condições? QuaisEstruturas e Incentivos os Investidores Consideram maisCompatíveis com o Alinhamento de Interesses e Como oEquilíbrio de Poder Vem Mudando no Private Equity LatinoAmericano?Mark Hoeing, Director, COMMONFUND CAPITAL Mr. Hoeing joined Commonfund Capital in 2005 to work primarily on the global private equityex-U.S. programmes, while also contributing to the global venture capital, U.S. private equityand natural resources teams. Prior to this, his experience includes positions at DeutscheBank evaluating third-party managers in the private capital funds division as well as directprivate capital investing with DB Capital Partners. Mr. Hoeing began his career as a creditanalyst and commercial lending officer with Citizens Financial Group, a wholly ownedsubsidiary of the Royal Bank of Scotland.

Walter McCormack, Co-Founder & Managing PartnerGRANITE CAPITAL MANAGEMENTWalter is the co-founder and managing member of Granite Capital Management, LLC, asingle family office based in New York. Prior to founding Granite in 2002, Walter worked atRed Hat and Goldman Sachs & Co.

Paul Van Houtte, Head of International Equity and FundsCASSA DEPOSITI E PRESTITIPaul Van Houtte initially worked for a VC fund targeting European growth companies, afterwhich he joined the European Investment Fund focusing on primary fund investments in theVC and Buyout area across Europe. After having launched the secondary investment area forEIF, as Head of Secondary Investments, he later guided private equity investments in theMENA region for the European Investment Bank. Currently Paul is head of International Equityand Funds for Cassa Depositi e Prestiti.

15.20 Afternoon Tea/ Coffee Break da Tarde

15.50

INVESTOR RELATIONS BEST PRACTICEWhat Do LPs Expect From The Investor Relations Team? HowAre Relationships Managed At A Distance By Both LPs & TheIR Team?

MELHORES PRÁTICAS EMRELACIONAMENTO COM O INVESTIDOR

O que o Investidor Espera do Time de Relacionamento com oInvestidor? Como São as Relações Gerenciadas à Distânciapor Investidores e Times de Relacionamento com oInvestidor?Veronica John, Managing Partner, SERASI CAPITAL Serasi Capital is a newly formed independent emerging markets fund of funds business.Prior to establishing Serasi Capital, Ms. John was CEO of IDFC Capital. She has over 20years of experience in international business and finance encompassing fund management,direct private equity investing, project management, privatisation, and investment banking.Previously, Ms. John was a Portfolio Director at the CDC Group based in London, and aPrincipal Investment Officer at the Asian Development Bank (ADB).

16.20

MANAGER SELECTIONChoosing The Best Manager To Align With An ExistingPortfolio: What Are LPs Looking For?

SELEÇÃO DO GESTOREscolha do Melhor Gestor para Alinhamento com um Portfóliojá Existente: O que os Investidores Procuram?Robert Wages, Head of Private Equity, NATIONAL HOLDINGOverseeing National Holding’s private equity activities, which includes direct, co-investments and fund investments, Mr. Wages has over 20 years of private equityexperience in a variety of sectors across North America, Europe and the MENA region.Previously, Mr. Wages served as the executive director for PE at Invest AD in Abu Dhabiand as a managing director of Castle Harlan in New York.

Rogerio Bastos, Partner, FINPLANRogerio Bastos is the founder and CEO of FinPlan. Rogerio has 20 of experience infinance, having worked as a risk manager at CCF, Credit Lyonnais and HSBC Brasil, andstrategist at Reliance.

James L. Korczak, Partner, ADAMS STREET PARTNERS Jim is a Partner primarily specialising in buyout & growth capital, energy and LatinAmerica fund investments. He is responsible for managing relationships with several ofAdams Street's managers. He actively participates in all fund investment decisions atAdams Street.

Janusz Heath, Managing Director, CAPITAL DYNAMICS (see above for biography)

16.50 End of Summit / Encerramento do Summit

Se você preferir ser atendido em português, por favor, contate: IBC Brasil; Telefone: +55 11 3017 6888 • Fax: +55 11 3017 6913 • Email: [email protected] 5


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Estudo de Caso de uma Empresade PortfólioTerça-feira, 13 de MarçoEstudo de Caso: O Commerical Vice-Presdient da

Droga Raia, Eugenio de Zagottis, fala sobre o ponto de vistada empresa de portfólio. Conheça, em primeira mão, aexperiência no investimento de private equity e posteriorsaída, como foi agregado valor e quais foram as liçõesaprendidas.

Debate SuperReturn LatinAmericaQuarta-feira, 14 de Março, às 10.00Com os investidores cada vez mais convencidos

sobre as oportunidades no Brasil, o SuperReturn pergunta:Qual a melhor maneira para que os LPs ganhemexposição no Brasil? Especialistas internacionais e líderesregionais defendem suas classes de ativos e discutemabertamente em um debate com espaço para perguntas erespostas.

Mesas de ‘Encontro com Investidores’Terça-feira, 13 de Março, às 13.00Inscreva-se para participar de um almoço informal edescontraído com os investidores locais e

internacionais experientes● Michael Dymond, Senior Investment Manager, PrivateMarkets, UNIVERSITIES SUPERANNUATION SCHEME● Mateo Ossa, Vice-President, Investments, COLFONDOS● Rene Werner, Partner, WERNER & ASSOCIADOS● Amin Al-Rashid, Managing Partner, AR INVESTMENTPARTNERS● Nicolas Drapeau, Director, Private Markets, BIMCOR

Quarta-feira, 14 de Março, às 13h● Otávio Vieira, Partner, FIDES ASSET MANAGEMENT● Carlos Augusto F. de Carneiro, Portfolio Manager,BNDES● Julie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)

Mesas de Almoço VIPTerça-feira, 13 de Março, às 13.00Inscreva-se para almoçar e ter um bate-papoinformal com nossos palestrantes especiais

● Pedro Carvalho de Mello, Professor of Economics,ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO(ESAGS) ● Liliana Rojas-Suarez, Economist, Senior Fellow, CENTERFOR GLOBAL DEVELOPMENT

Wednesday 14th March at 13.00● Luís Afonso Lima, Chief Economist, Finance Director,TELEFONICA DO BRASIL

“Latin America On The Ground”Knowledge-Share SessionsTuesday 13th March at 16.40Série de pequenos workshops focados nos tópicos

mais impactantes para os gestores latino-americanos e seusinvestidores. As sessões irão abordar o “como fazer” daestruturação de negócios e lidar com questões específicas doprivate equity na América Latina. As discussões acontecerãosimultaneamente entre grupos de 10 a 15 pessoas. Osparticipantes poderão escolher a discussão de sua preferência e,após um espaço de tempo, terão a chance de se mudar paraoutro grupo de discussão.

Speed Networking com GPs eLPsTerça-feira, 13 de Março, às 16hA única forma de encontrar 15 investidores em 15

minutos! Os participantes são divididos entre GPs e LPs etêm apenas um minuto para trocar cartões e explorarpossíveis sinergias antes de partir para um futuro contato.Os gestores podem conhecer potenciais investidores,enquanto os investidores podem avaliar muitos fundosrapidamente. Se houver compatibilidade, você poderá entrarem contato posteriormente.

Delegate Quickfire ShowcaseQuarta-feira, 14 de Março, às 12h50Nesta sessão informal, os participantes terão 90segundos para promover seu fundo a um painel de

investidores sem utilizar dados do fundo, estatísticas oucomparações com outros fundos. Nossa comissão julgadora deinvestidores experientes dará um feedback e escolherá ovencedor.

Mesas Redondas comChampanheTerça-feira, 13 de Março, às 17.40Uma chance para fazer contatos e continuar

debatendo com palestrantes de destaque, aproveitando arodada de champanhe.

Painel Eletrônico de VotaçãoTerça-feira, 13 de Março, às 12.20A audiência poderá votar sobre as questões que maisimpactam o Private Equity na América Latina. Alguns

dos maiores nomes da indústria farão suas considerações.

LEGENDA PARA ATRAÇÕES-DO EVENTO

Workshop: PRIVATE EQUITY AS AN ASSET CLASS:ANALYSING RETURNS, RISKS AND HOW

TO INVESTMonday 12th March - 10.00 – 16.00

During this workshop, you will gain an in depth insight into the world of private equityinvestment and understand how you can ensure you achieve the best returns possible.

Topics to be discussed include:

• Analysing private equity and its different forms• Insight into the size of the industry• Comparison of private equity returns in different regions of the world • Comparison of private equity to other asset classes• Understanding returns on private equity investment • Buyout, buyout returns and fund sizes • Understanding the relationship between GPs and LPs• Terms and conditions within the asset class• How investors can evaluate different private equity funds• Analysis of the fundraising process• Exploring different Investment models• Exit options within private equity

Led by: Adalberto Brandão, COO, GVCEPEAdalberto Brandão is the COO of GVcepe - Private Equity and Venture Capital Research Center at FGV-EAESP,Director of Desafio Brasil and Outreach Board Member of Anjos do Brasil. He is a founding partner of Radar Negóciosand other early stage companies. Prior to this, he was Senior Investment Manager and Project Finance Manager ofInfrastructure at Odebrecht Investimentos, and has also worked at CVC/Opportunity Equity Partners, one of the biggestPrivate Equity firms in Latin America. Adalberto is co-author of the book Negociações Empresariais, published by

Editora Saraiva in 2010, and also an author and professor of disciplines at Fundação Getulio Vargas (FGV) and a Professor at theBusiness School of São Paulo (BSP).

Workshop: PRIVATE EQUITY COMO CLASSE DEATIVOS: ANALISANDO RETORNOS,

RISCOS E POR QUE INVESTIRSegunda-feira, 12 de Março de 2012 - 10.00 às 16.00

Neste workshop, você irá obter uma visão aprofundada do investimento em private equity eentender como é possível acertar no investimento para obter os melhores retornos.

Tópicos a serem discutidos:

• Analise o Private Equity e suas diferentes formas• Qual o tamanho desta indústria?• Comparativo entre os retornos do private equity em diferentes partes do mundo• Comparativo entre o private equity e outras classes de ativos• Entenda como funciona o retorno no private equity • Buyout, retornos do buyout e tamanho dos fundos • Como funciona a relação entre gestores e investidores• Termos e condições para esse tipo de investimento• Como o investidor deve avaliar os fundos de private equity• Uma análise do processo de captação• Modelos de investimento• Quais são as opções de desinvestimento no private equity e como funciona a saída

Liderado por: : Adalberto Brandão, COO, GVCEPEAdalberto Brandão é o COO da GVCepe - Centro de Pesquisa em Private Equity e Venture Capital na FVG –EAESP,Diretor do Desafio Brasil e Membro Colaborador do Anjos do Brasil. É sócio fundador do Radar Negócios e outrasempresas em estágio inicial. Antes disso, foi Gerente Sênior de Investimentos e Gerente de Project Finance deInfraestrutura na Odebrecht Investimentos e trabalhou na CVC/Opportunity Equity Partners, uma das maioresempresas de private equity na América Latina. Adalberto é coautor do livro Negociações Empresariais, publicado pela

Editora Saraiva em 2012 e também é autor e professor de disciplinas na Fundação Getúlio Vargas (FGV) e Professor na BusinessSchool de São Paulo (BSP).

The SuperReturn blog hostsinterviews and original articles from

some of our high profile guestspeakers as well as the latestresearch from the industry. Wewelcome guest columnists and

suggestions for poll topics. Pleasecontact: [email protected]

www.icbi-events.com/superreturnblog

To really experience SuperReturnLatin America, you need to be there.

For the next best thing, try ourYouTube channel for interviews,

roundups and industry commentariesfrom your industry leaders. Go To:

www.youtube.com/user/SuperReturn TV

Follow us on Twitter @SuperReturn.Benefit from news about the events,special offers, interesting articles andup to the minute research from the

industry.

Our LinkedIn Group (SuperReturnLatin America) allows you to share

ideas and expertise with yourindustry peers.

The SuperReturn Latin America.Connect allows you to build a

profile, view the delegate list andconnect with speakers &

delegates. SuperReturn LatinAmerica Connect will go live two

weeks before the conference to allpaid delegates and speakers.

If you’re on Facebook, you can“like” our SuperReturn GlobalSeries page to get the latestupdates in your newsfeed.

Network, Plan Meetings & Optimise Your Time Before, During & After The Event

SUPERSUPER RETURN RETURN

SUPER RETURN

Emerging Markets

SUPER RETURN


For latest programme or to register, please visit/ Para o programa atualizado ou para se inscrever, acesse: www.superreturnlatam.com6

Portfolio Company Case Study Tuesday 13th MarchCase study: Drogo Raia’s Commercial Vice-President, Eugenio de Zagottis, speaks candidly

from a portfolio company’s perspective. Hear firsthand theirexperience of private equity investment & exit, how value wasadded and the lessons they have learnt..

The SuperReturn Latin AmericaDebateWednesday 14th March at 10.25As LPs are increasingly sold on the opportunities

in Brazil, SuperReturn asks: What is the best way for LPs togain exposure to Brazil? International experts and regionalleaders put their case forward for their asset classes, followedby a discussion and Q&A from the floor.

“Meet The LP” Lunch TablesTuesday 13th March at 13.00Sign up on the day to have lunch and informalconversation with top local and international LPs

● Michael Dymond, Senior Investment Manager, PrivateMarkets, UNIVERSITIES SUPERANNUATION SCHEME● Mateo Ossa, Vice-President, Investments, COLFONDOS● Rene Werner, Partner, WERNER & ASSOCIADOS● Amin Al-Rashid, Managing Partner, AR INVESTMENTPARTNERS● Nicolas Drapeau, Director, Private Markets, BIMCOR

Wednesday 14th March at 13.00● Otávio Vieira, Partner, FIDES ASSET MANAGEMENT ● Carlos Augusto F. de Carneiro, Portfolio Manager for VC/PE Funds, BNDES● Julie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)

VIP Hosted Lunch TablesTuesday 13th March at 13.00Sign up on the day to have lunch and informalconversation with special guest speakers

● Pedro Carvalho de Mello, Professor of Economics,ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO(ESAGS) ● Liliana Rojas-Suarez, Economist, Senior Fellow, CENTERFOR GLOBAL DEVELOPMENT

Wednesday 14th March at 13.00● Luís Afonso Lima, Chief Economist, Finance Director,TELEFONICA DO BRASIL

“Latin America On The Ground” Knowledge-Share SessionsTuesday 13th March at 16.40

A series of small workshop groups focusing on topics facingLatin American managers & their investors. The sessions dealwith the ‘how to’ of structuring deals and dealing withspecific issues around private equity in Latin America. Thediscussions will be in small groups of 10-15 people and willrun concurrently. Delegates choose which discussion is ofmost interest to them, and after a set amount of time, will havethe chance to move to another discussion group.

LP/GP Speed NetworkingTuesday 13th March at 16.00

The only way to meet 15 LPs in 15 minutes! Thespeed networkers are divided into LPs and GPs and have oneminute to swap business cards and explore synergiesbefore moving onto the next contact. GPs get to meetpotential investors, while LPs get to evaluate many funds veryquickly. If there is a fit, you can follow up later.

Delegate Quickfire ShowcaseWednesday 14th March at 12.50

In this informal session, delegates will have 90seconds to promote their fund to a panel of LPs without usingfund data, statistics or overt comparisons to other funds. Ourexpert LP judging panel will give feedback and choose awinner.

Champagne RoundtablesTuesday 13th March at 17.40

A chance to network and continue discussionwith key speakers over a chilled glass of champagne.

Electronic Polling Panel Tuesday 13th March at 12.20

A live audience poll on the most topical questionsin Latin American Private Equity. Expert commentary isprovided by some of the biggest names in industry.

KEY TO EVENT FEATURES

FKR2326 SR LA 2012 1_Superreturn A3 11 02/11/2011 14:55




08.45

GLOBAL ECONOMIC ADDRESSHow Does Turmoil In Advanced Economies And GeneralUncertainty & Volatility Affect Economic Prospects In LatinAmerica?

CONSIDERAÇÕES SOBRE A ECONOMIAGLOBAL

Como a Situação Tumultuada nas Economias Avançadas, aIncerteza Geral e a Volatilidade Pode Afetar as PerspectivasEconômicas na América Latina?

Liliana Rojas-Suarez, Economist, Senior FellowCENTER FOR GLOBAL DEVELOPMENTLiliana Rojas-Suarez is an expert on Latin America and on financial servicesand the development impact of global financial flows. She is also the chair ofthe Latin American Shadow Financial Regulatory Committee (CLAAF). FromMarch 1998 to October 2000, she served as managing director and chief

economist for Latin America at Deutsche Bank. Before joining Deutsche Bank, Rojas-Suarezwas the principal advisor in the Office of Chief Economist at the Inter-American DevelopmentBank. Between 1984-1994 she held various positions at the International Monetary Fund, hasbeen a visiting fellow at the Institute for International Economics and has also served as aprofessor at Anahuac University in Mexico and an advisor for PEMEX, Mexico's NationalPetroleum Company. Rojas-Suarez has also testified before a Joint Committee of the U.S.Senate on the issue of dollarisation in Latin America. She has published widely in the areasof macroeconomic policy, international economics and financial markets.

09.25

BEYOND BRAZILWhere Next For International LPs? Which Markets Are MostAttractive & Why? How Will These Markets Manage An Influx OfCapital & Will Current Investment Trends Be Sustainable?

ALÉM DO BRASILPara Onde os Investidores Internacionais Devem Caminhar?Quais os Mercados mais Atraentes e Por quê? Como EssesMercados Irão Lidar com a Entrada de Capital? E ainda, asTendências Atuais de Investimentos Serão Sustentáveis?

Michael Dymond, Senior Investment Manager, Private MarketsUNIVERSITIES SUPERANNUATION SCHEMEMichael joined USS in 2010 as Portfolio Manager for Private Equity &Infrastructure. In his role at USS, Michael focuses on fund sourcing,selection, implementation and monitoring for the private equity andinfrastructure portfolios. Prior to joining USS, Michael was employed by

Pinebridge Investments in London, in a role which included manager selection, monitoringand strategy in the private equity fund of funds programme. Before that, he worked atFortis Bank in Brussels as a member of the global private equity team.

Amin Al-Rashid, Managing PartnerAR INVESTMENT PARTNERSAmin is the Managing Partner of AR Investment Partners, a private equityinvestment management and consulting firm, where he works with FamilyOffices, including Royal Families in the Middle East and financial institutionsglobally, on their private equity investments. Amin has co-invested alongside

several sovereign wealth funds and institutional investors globally on several billion dollarprivate equity investments. Prior to that, he managed the private equity investments for anumber of high net worth families in Europe.

William Pearce, Director, Investment FundsOVERSEAS PRIVATE INVESTMENT CORPORATION (OPIC) Mr. Pearce has been at OPIC since 2005 providing growth/expansioncapital to emerging market private equity funds focused on Africa, Asia,Latin America and/or the Middle East.

Maninder Saluja, Partner, QUILVEST GROUPMani is based in, and responsible for, the oversight of Quilvest’s Hong Kongoffice, from where he co-manages Quilvest’s Global Emerging OpportunitiesPrivate Equity Program, with a particular focus on Asia and Latin America. Priorto joining Quilvest, Mani worked globally in restructuring, operational finance andinvestment banking at Alvarez & Marsal, Allegiance Telecom Hosting, and

Donaldson, Lufkin & Jenrette.

09.55

KEYNOTE ADDRESS (Topic tbd)

CONSIDERAÇÕES DO KEYNOTE SPEAKER(Tòpico a definir)

Charles R. Kaye, Co-President, WARBURG PINCUSCharles joined Warburg Pincus in 1986. During his 22 years at the firm, Mr.Kaye has worked across a variety of industry sector groups and lived inHong Kong from 1994 to 1999. During that time he established WarburgPincus’ operations in Asia, where the firm today is recognised as one of theleading private equity investors in the region.

10.20

PORTFOLIO COMPANY CASE STUDY

One Portfolio Company’s Experience Of Private EquityInvestment & Exit: How Was Value Added & What Are TheLessons Learned?

ESTUDO DE CASO DE UMA EMPRESA DE PORTFÓLIO

Conheça a Experiência do uma Empresa de Portfólio com oPrivate Equity e Saída de Investimento: Como Foi PossívelAgregar Valor ao Negócio e Quais as Lições Aprendidas?Eugenio de Zagottis, Commercial Vice-President, DROGA RAIA

Interviewed by / Entrevistado por: Vinicius Pinheiro, Reporter, VALOR ECONOMICO Vinícius Pinheiro is a financal reporter at Valor Econômico, a Braziliannewspaper, covering private equity and local debt capital markets. Prior tothis, Vinícius worked as a capital market reporter and assistant editor atAgência Estado, and was finance sub-editor at Gazeta Mercantil.


11.10

WHERE IS THE “B” IN BRIC?What Are The Similarities & Differences Between The BRICEconomies? What Are The Long-Term Macroeconomic,Demographic & Geopolitical Trends & How Are The RisksAssociated With Each Economy Changing?

ONDE ESTÁ O “B” NO BRIC?Quais São as Principais Similaridades e Diferenças entre asEconomias do BRIC? Qual é o Cenário Macroeconômico noLongo Prazo? Quais São as Tendências Demográficas eGeopolíticas? E Quais São os Riscos Associados a CadaMudança Econômica?

Pedro Carvalho de Mello, Professor of Economics, ESCOLASUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS) Dr. Mello is a Professor of Economics, ESAGS, and Associate Professor ofEconomics, Esalq/USP. He is a member of Claaf (Shadow FinancialCommittee of Latin America), and International Coordinator ofFGV/IDE/FGV Management. Prior to these activities, he was a

Commissioner of CVM (Brazilian Securities and Exchange Commission), a Director ofBM&F, and Vice-President of PNC International Bank. Dr. Mello was also a VisitingProfessor of Columbia University.

11.50

LP PERSPECTIVES ON THE BRICECONOMIES

How Are LPs Changing Their Allocations Within The BRICEconomies? How Do They Analyse The GP Environment, DealFlow, Exit Opportunities & Return Expectations? What Are TheMost Important Factors To Consider When Allocating To BRICPrivate Equity?

PERSPECTIVAS PARA OS INVESTIDORESNAS ECONOMIAS DO BRIC

Como os Investidores Estão Mudando Suas Estratégias deAlocação Entre as Economias do BRIC? De que Forma ElesAnalisam o Ambiente dos Gestores, Fluxo de Negociação,Oportunidades de Saídas de Investimento e Expectativas deRetorno? Quais os Fatores mais Importantes no Momento daAlocação em Private Equity no BRIC?

Moderator: Pedro Carvalho de Mello, Professor of Economics,ESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO(ESAGS) (see above for biography)

Lokendra Jain, Investment Director, OMAN INVESTMENT FUND (tbc)Mr. Lokendra focuses on alternative investments in the form of global direct private equity.The investments made aim to augment emerging and growth equity access in certaingeographies and markets, agnostic to sector, size and geography. Mr. Lokendra hasextensive experience in Private Equity, Venture Capital, Corporate Venture Capital,incubation of companies, M&A, trade sales and entrepreneurship.

Brian Lim, Principal, PANTHEONBrian focuses on the sourcing, selection and monitoring of private equityfunds in Asia. He was previously a portfolio director with CDC Group, thespecialist emerging markets private equity investor, where he helped buildtheir Asian portfolio and sat on a number of private equity and other fundadvisory boards across the emerging markets. Prior to joining CDC Group,

he was with Watson Wyatt advising institutional investors on private equity and investmentstrategy across both developed and emerging markets.

Nicolas Drapeau, Director, Private Markets, BIMCORBimcor is a mid-size corporate pension plan based in Canada with anactive allocation to private equity and infrastructure. Before joining Bimcor,Nicolas worked for Pantheon Ventures, a large global fund of funds in theirLondon office for three years after a four year spell with the European teamof the Russell private equity fund of funds in Paris. He started his career at

Caisse de Depot et Placement du Quebec, focusing on international fund investments.

J. Christopher Kojima, Managing Director, Head of AlternativeInvestments & Manager Selection, GOLDMAN SACHSChristopher is the head of the Alternative Investments & Manager Selection(AIMS) Group at Goldman Sachs. With over 200 professionals across 10offices around the world, the AIMS Group invests in primary commitments,secondaries, and co-investments on behalf of investors, for which it

manages over $80 billion. Mr. Kojima first joined Goldman Sachs in 1995. He also servesas an adjunct professor at Columbia Business School, a member of the Council on ForeignRelations, and a trustee of The Juilliard School and Asian Cultural Council.

12.20

INTERACTIVE POLLING PANELWhere Are The Big Opportunities In & What Are The PotentialThreats To Latin American Private Equity?Using our audience response system, you can compare your thoughts to those of leadingindustry figures and see a snapshot of industry sentiment taken in real time. The expertpanel will comment on the questions and the audience’s responses.

PAINEL ELETRÔNICO DE VOTAÇÃO

Onde Estão as Grandes Oportunidades e Quais são asPotenciais Ameaças para o Private Equity na América Latina?Usando nosso sistema de resposta da audiência, você pode comparar suasopiniões com os líderes do mercado e poderá acompanhar instantaneamenteas opiniões da indústria em tempo real. O painel de especialistas irá comentaras questões e as respostas da audiência.


Plus! ‘Meet The LP’ Lunch Tables Sign up to share lunch and informal conversation with powerful LPs,including:

Extra! Mesas de ‘Encontro com Investidores’Inscreva-se para participar de um almoço com um bate-papo informal com grandes investidores incluindo:Michael Dymond, Senior Investment Manager, Private MarketsUNIVERSITIES SUPERANNUATION SCHEMEMateo Ossa, Vice-President, Investments, COLFONDOSRene Werner, Partner, WERNER & ASSOCIADOSAmin Al-Rashid, Managing Partner, AR INVESTMENT PARTNERSNicolas Drapeau, Director, Private Markets, BIMCOR

Plus! VIP Hosted Tables / Extra! Mesas VIPPedro Carvalho de Mello, Professor of EconomicsESCOLA SUPERIOR DE ADMINISTRAÇÃO E GESTÃO (ESAGS) Liliana Rojas-Suarez, Economist, Senior FellowCENTER FOR GLOBAL DEVELOPMENT

14.30

MEXICOBenefitting From Proximity To The U.S. While Side-SteppingIssues Around Security: Where Can Firms Add Value &Generate Alpha In The Market?

MÉXICOComo Tirar Proveito da Proximidade dos Estados UnidosEnfrentando Desafios na Segurança: Onde As EmpresasPodem Gerar Valor e Retornos Superiores neste Mercado?

Mario Cortés, DirectorMETLIFE INVESTMENTS LATIN AMERICA Based in Santiago, Chile, Mario Cortés is a Director in MetLife’s LatinAmerica regional office. He manages a Fixed Income portfolio composedmainly of Latin American corporations and holds primary responsibility forMetLife’s Private Equity portfolio in Latin America. Mr. Cortés joined MetLife

in 2006 from BankBoston Chile. From 1999 through 2004, Mr. Cortés held differentresponsibilities at BankBoston, where he finally was a Senior Relationship Manager forGlobal Corporate Investment Banking from 2004 to 2006.

Felipe Vilá, CEO, CORPORACIÓN MEXICANA DEINVERSONES DE CAPITAL (FONDO DE FONDOS)Since January 2009, Mr. Felipe Vilá has held the position of CEO ofCorporación Mexicana de Inversiones de Capital, S.A. de C.V. also knownas “Fondo de Fondos”, a corporation established by NAFIN, BANOBRAS,BANCOMEXT and FOCIR, four development banks in Mexico. The

Corporation has invested in 38 Private Equity / Venture Capital Funds that have promotedmore than 160 SMEs and SPVs in Latin America with special focus in Mexico. Mr. Vilá hasover 20 years of M&A, privatisation and markets experience.

Jaime Sánchez Cortina, Partner, MEXICO VENTURESMr Sanchez manages Mexico Ventures I, a Venture Capital Fund of Fundsco-managed with Sun Mountain Capital and GreenSpring Associates.Between 2003 and 2010, he served as Managing Director of themanagement team of Discovery Americas I. Mr. Sanchez has over adecade of experience in financial management and strategic planning. He

served from 1997 to 2000 as Country Manager at Raytheon International, and prior to this,worked at Ixe Casa de Bolsa and Casa de Bolsa Inverlat in M&A.

Scott McDonough, Managing Director, ALTA GROWTH CAPITALMr. McDonough is a founding partner of Alta Growth Capital. Alta GrowthCapital is a private equity fund focused on growth investments in middlemarket companies in Mexico. Prior to forming AGC, he was a Principal atvSpring Capital, a U.S. venture capital fund, co-founder, President & COO ofLoveSac, a consumer products lifestyle brand, and an attorney practicing law

with Fenwick & West in Palo Alto and Orrick Herrington & Sutcliffe in New York.

15.00

COLOMBIA: THE NEXT HOT MARKET INPRIVATE EQUITY

How Will Colombia Absorb Increased Capital Inflows? HowLimiting Is The Size Of The Market & At What Point Does TheBoom Become Unsustainable? Where Are The Investible Assets& Where Will Value Be Found?

COLÔMBIA: UM MERCADO QUE COMEÇA ASE AQUECER NO PRIVATE EQUITY

Como a Colômbia Irá Absorver o Aumento de Entrada deCapital? De que Forma o Tamanho do Mercado Pode Ser umLimite e em Que Ponto o Boom Ficará Insustentável?

Moderator: Diego Lozano, Founding Partner, CAMPO CAPITALCampoCapital is dedicated to structuring, developing, managing andfunding projects in the agricultural, forestry and biofuel sectors in Colombia.Before founding Campo Capital, Mr. Lozano was CEO of Fiduagraria, atrust company that manages assets of USD 3.5 billion. Prior to this, Mr.Lozano worked as a consultant for governmental and multilateral entities.

Mateo Ossa, Vice-President, Investments, COLFONDOSColfondos is one of six private pension funds established in Colombia,, servingmore than 1.6 million customers. Mr. Ossa is responsible for the investments ofseveral portfolios with a total AUM of USD 8.5 billon. Previously, he worked forthose of BBVA, Santander and Banco de Bogotá, he held different positionsincluding foreign exchange and fixed income trader, and portfolio manager.

Diego Serebrisky, Managing Director, ColombiaADVENT INTERNATIONALDiego Serebrisky joined Advent International in Mexico City in 1998 and in2011 moved to Bogotá to establish and head Advent’s office in Colombia.He has 13 years of private equity experience. While at Advent, Mr.Serebrisky has led or participated in the firm’s investments in 12 companies

in the airport, retail, financial services, business services and media sectors. Prior toAdvent, he worked as a consultant for McKinsey & Co. in Caracas, Johannesburg andNew York.

Maria Cristina Albarracin Roldan, Director, Department for Private Funds,BANCÓLDEX

STREAM A – COUNTRY CLINICS

DAY ONE Tuesday 13th March 2012PRIMEIRO DIA Terça-feira, 13 de março de 2012

DAY1


DAY ONE Tuesday 13th March 2012PRIMEIRO DIA Terça-feira, 13 de março de 2012

D

15.30

ARGENTINA: THE ONE TO WATCH?What Efforts Is The Argentine Government Making ToEncourage Foreign Investment Back Into The Country?Balancing Political & Macroeconomic Risk With CompetitiveValuations, How Should Investors Approach This Large Market?

ARGENTINA: A BOLA DA VEZ DO FUTURO?Que Esforços o Governo Argentino Tem Feito para Atrair oInvestimento Estrangeiro de Volta ao País? Como osInvestidores Devem Se Aproximar deste Mercado Tão GrandeConsiderando o Balanceamento entre Política, Risco do Pontode Vista Macroeconômico e Valuations Competitivos?

Federico Schiffrin, Senior Vice President, UNIGESTIONFederico is currently a Senior Vice President of private equity at Unigestion, aSwiss-based asset manager with approximately $11 billion in assets undermanagement. Federico is responsible for all US and Latin Americaninvestments (secondary, co-investments and fund investments), where heoversees and invests a portfolio of approximately $1 billion. Prior to joining

Unigestion, Federico worked at Three Cities Research, Inc., a middle-market private equity fundbased in New York.

Jerónimo Bosch, Partner, GRUPO PEGASUSGrupo Pegasus is an investment firm that controls and operates long terminvestments, with presence in Argentina and other Latin American countries.Mr. Bosch has over 16 years of experience in private equity, venture capitaland real estate investments, in Latin America and the US. Before returning toArgentina and joining Pegasus in 2003, he lived for eight years in New York,

São Paulo and San Francisco, working at Morgan Stanley and Salomon Brothers.

16.00 Afternoon Tea/ Coffee Break da TardePlus! LP/ GP Speed NetworkingThe only way to meet 15 LPs in 15 minutes! The speed networkers are divided intoLPs and GPs and have one minute to swap business cards and explore synergiesbefore moving onto the next contact. If there is a fit, you can follow up later.

A única forma de encontrar 15 investidores em 15 minutos! Os participantes sãodivididos entre GPs e LPs e têm apenas um minuto para trocar cartões e explorarpossíveis sinergias antes de partir para um futuro contato. Se houvercompatibilidade, você poderá entrar em contato posteriormente.

16.40

BRAZIL: WHERE ARE THE BESTOPPORTUNITIES?

Where Are The Key Opportunities In Brazil & What StrategiesHave Been Successful In Maximising These? How Might TheBrazilian Macroeconomic Environment Change Private EquityInvestments In The Future?

BRASIL: ONDE ESTÃO AS MELHORESOPORTUNIDADES?

Quais São as Melhores Oportunidades no Brasil e Quais Sãoas Estratégias Mais Eficientes para Maximizar o Sucesso?Como as Mudanças no Ambiente Macroeconomico BrasileiroPodem Mudar o Investimento em Private Equity no Futuro?

Ricardo Fernandez Jr., Vice President, HAMILTON LANEMr. Fernandez is a Vice-President in the Fund Investment Team atHamilton Lane. Prior to this, he was a VP at Capital Dynamics and head ofilliquid investments at a multi-family office in Brazil. He previously workedat Santander Private Equity and also held positions at Odebrecht in Brazil,Peru and Portugal. He began his career at Strata, an M&A boutique.

Nicolas Wollak, Managing Partner, AXXON GROUPNicolas Wollak has nearly 20 years of private equity investmentexperience in South America. Prior to founding the Axxon Group in 2001,Mr. Wollak was a Partner of BISA, an Executive Director of InverCapital,and a Senior Vice President in the private placement department of DrexelBurnham Lambert in London. Mr. Wollak began his career in Latin America

in 1986 as part of Citibank’s corporate banking department where he executed variousassignments in Argentina and Brazil.

Carlos Piani, Co-Head of Private Equity, VINCI PARTNERSPrior to working at Vinci Partners' Private Equity group, Carlos held the positions of CEOand CFO of Equatorial Energia and partner at Banco Pactual. Between 2000 and 2004,he managed the Internet Fund at Banco Pactual, and between 1998 and 2000, he workedat the bank's corporate finance group. Prior to this, he was an analyst in Ernst Young’sBusiness Valuation department.

Fernando Borges, Managing Director, THE CARLYLE GROUPFernando Borges is a Managing Director and the Head of the CarlyleSouth America Buyout. Prior to joining Carlyle, Mr. Borges was aManaging Director at AIG Capital Partners and CEO of AIG CapitalInvestments do Brasil. From 1994 to 1999, he was a Director at Bozano-Simonsen Private Equity, where he was responsible for managing a

private equity fund sponsored by Bozano Simonsen and Advent International.

Sidney Chameh, Chairman, ABVCAPMr. Sidney Chameh is the Chairman of ABVCAP (Brazilian Association ofPrivate Equity and Venture Capital) and he is also founder and partner ofDGF Investimentos, Brazil. He has been managing investment funds since1998 and has been working in the financial markets for more than 25 years,in banks such as Banco Sudameris, Banco Multiplic, Far e Banco Crefisul.

17.10

FIRST TIME FUNDSHow Does A First Time Fund Attract The Interest Of LPs? HowDoes The Performance Of First Time Funds Compare WithThat Of More Established Firms?

FUNDOS INICIANTES Como um Fundo que Está Iniciando Pode Atrair o Interessedos Investidores? Como Estabelecer uma Comparação entre oDesempenho de um Fundo Iniciante e de uma Empresa commaior Experiência?

Moderator: Lynn Baranski, Managing DirectorBLACKROCK PRIVATE EQUITY PARTNERSLynn Baranski is the Chief Investment Officer of the BlackRock Private EquityPartners (PEP) group within BlackRock Alternative Investors. Ms. Baranski'sservice with the firm dates back to 1997, including her years with Merrill LynchInvestment Managers (MLIM), which merged with BlackRock in 2006. AtMLIM, she worked for four years as a portfolio manager and research analyst

in the fixed income division. She joined MLIM in 1997 from Bank of America Securities, Inc.,where she was a founding member of the Private Equity Sponsor Advisory group.

Adele Tilebalieva, Investment Manager, OBVIAMAdele has been working for Obviam, the asset manager of Switzerland’sDevelopment Finance Institution, SIFEM, since 2007, covering sub-SaharanAfrica and Eastern Europe and the CIS region prior to Latin America.Obviam is managing a portfolio of private equity and microfinance fundinvestments in the Latin American countries of Peru, Colombia, Bolivia and

the Central American region, as well as exploring investment possibilities in other marketssuch as Brazil and impact-themed investments.

Joachim Schumacher, Director, Equity & Mezzanine, DEGDEG provides long term capital in the form of debt, mezzanine and equity toprivate companies in developing and emerging markets, and made newcommitments in excess of €1.2 billion. As of the end of 2010 DEG held aportfolio of €5.1 billion in more than 80 countries. Joachim is responsible forequity and mezzanine direct investments in private companies as well as

commitments to private equity and mezzanine funds. Prior to joining DEG in 2002, Mr.Schumacher worked with TFG Venture Capital, a German venture capital managementcompany where he headed a sector group focused on technology investments.

Susana Garcia-Robles, Principal Investment Officer, Early StageFinancing, MIF, INTER-AMERICAN DEVELOPMENT BANK Since 1999, Ms. Garcia-Robles has created and guided the venture capitalinvestments of MIF/FOMIN (Multilateral Investment Fund) in Latin Americaand the Caribbean (LAC). She is one of the co-founders and AdvisoryBoard member of the Argentinean VC Association/ARCAP, a member of

LAVCA’s Board of Directors and of the Brazilian VC Association, ABVCAP’s AdvisoryBoard, as well as a member of the Bancoldex Colombian Venture Capital and PrivateEquity Program Investment Committee.

17.40 - 18.40

Sector Specific Champagne Roundtable DiscussionsSuperReturn Latin America networking champagne roundtables provide youwith the ideal opportunity to meet some of the key speakers in small groupsof about 15 people, and discuss the hot issues of the day. You will be able tochoose between tables and discuss current issues in a highly personal andinteractive environment. Each roundtable has a dedicated topic and leader,and participants are encouraged to share their questions and expertise. Mesas Redondas Setoriais com ChampanheAs mesas redondas de networking do SuperReturn Latin America oferecema você a oportunidade ideal para encontrar alguns dos palestrantes chavedo evento em grupos pequenos de cerca de 15 pessoas que irão discutir ostópicos mais quentes da atualidade. Você poderá escolher entre as mesas ediscutir assuntos importantes em um ambiente pessoal e interativo. Cadamesa redonda será dedicada a um tópico específico e contará com umlíder. Os participantes serão incentivados a compartilhar suas questões eexperiências. Consumer & Retail / Consumo e Varejo: Alexandre Saigh, ManagingPartner & Head of Private Equity, PÁTRIA INVESTIMENTOSTechnology & Innovation / Tecnologia e Inovação: Alexandre Villela,Investment Director, INTEL CAPITALExits / Saídas: Mark O’Hare, Managing Director, PREQINImpact Investing / Impacto do Investimento: Serge LeVert-Chiasson, Vice-President & CIO, SARONA ASSET MANAGEMENTAgribusiness / Agronegócio: José Humberto P. Teodoro Jr., Director forBusiness Development and Strategic Planning, BRASILAGROFurther Champagne Roundtables to be announcedMais mesas redondas com champanhe a serem anunciadas

18.00 - 19.30

Gala Networking ReceptionYour chance to relax with your peers after an intensive day’s sessions andnetworking. Take this opportunity to forge new business partnerships andexpand your network of like-minded professionals.Coquetel de Gala e NetworkingSua chance para ter um momento descontraído com seus parceiros denegócios após dias intensos com apresentações e networking. Aproveite estaoportunidade para prospectar novos parceiros de negócios e expandir a suarede de contatos com pessoas com quem terá grande afinidade profissional.

19.30 End of Day One/ Encerramento do Primeiro Dia

Stream Chair: Duncan Littlejohn, Managing DirectorPAUL CAPITAL PARTNERS

14.30

BRAZILIAN LPS Where Do Brazilian LPs See The Next Opportunities In PrivateEquity? How Do They Select Managers, & Who Will TheyInvest With? What Returns Do Local LPs Expect FromBrazilian Private Equity?

INVESTIDORES BRASILEIROSOnde os LPs Brasileiros Vêm Enxergando Oportunidades deNegócios no Private Equity? Como eles Escolhem seusGestores e Com quem Costumam Investir? Quais Retornos osInvestidores Esperam do Private Equity no Brasil?

Roberto Luiz Corrêa da Fonseca, PartnerTNA GESTÃO PATRIMONIALRoberto has worked in the Brazilian financial market since 1978, inpositions that have included VP at Citibank during the 80´s, Deputy CEOat ING Bank in Brazil, CEO and Country Manager of SantanderInvestment Brazil. In addition, Roberto was the Americas Regional Director

at Alliance Capital, CEO and CIO of BCN Alliance, and Wealth Management Director atUBS Pactual. Roberto joined TNA in 2007 as a partner.

Mauricio da Rocha Wanderley, CIOFUNDAÇÃO VALE DO RIO DOCE DE SEGURIDADE SOCIALMaurício da Rocha Wanderley is CIO of the Fundação Vale do Rio Docede Seguridade Social-VALIA (CVRD’S Pension Fund) with U$ 8.9 billionin assets under management.

Clarisse Heck Machado, Investment DirectorFUNDAÇÃO REAL GRANDEZAClarisse Heck Machado is the Investment Director Assistant of Real Grandeza- Fundação de Previdência e Assistência Social, the Pension Fund forEletrobras Furnas and Eletrobras Eletronuclear employees, and one of thelargest institutional investors in Brazil with US$ 5.5 billion under management.

15.00

STRUCTURING BRAZILIAN FUNDSWhat Are The Options For Structuring Funds With Brazilian &International LPs? How Do You Avoid Conflicts Of Interest &How Are Fund Terms & Conditions Evolving?

ESTRUTURANDO FUNDOS BRASILEIROS Quais São as Opções para Estruturação de Fundos comInvestidores Brasileiros e Estrangeiros? Como EvitarConflitos de Interesse e Quais São os Termos e CondiçõesEnvolvidos nos Fundos?

Silvia Bugelli, PartnerALMEIDA BUGELLI E VALENÇA ADVOGADOS ASSOCIADOSSilvia is the founding partner of Almeida Bugelli e Valença AdvogadosAssociados, where she is the head of the Corporate, Banking, CapitalMarkets, M&A, Tax and Litigation areas. Prior to this, Silivia was a partnerat Banco Pactual and professor at Ibmec-Law. In addition, Silvia has co-

authored a book titled "Fusões e Aquisições – Aspectos Jurídicos e Econômicos" (M&A –Legal and Economic Aspects), published by Editora IOB.

15.30

LIQUIDITYHow Effective Is The Secondaries Market At ProvidingLiquidity To Private Investments In Latin America? What AreThe Current Trends & Why?

LIQUIDEZComo os Mercados Secundários Podem Ser Efetivos na Ofertade Liquidez em Investimentos Privados na América Latina?Quais São as Tendências mais Atuais e Por quê?

Moderator: Michael McCabe, Partner, STEPSTONE GLOBALMr. McCabe focuses on secondary investments, U.S.-based small marketmanagers, Latin American investments, and co-investments. Prior toStepStone, Mr. McCabe co-founded SilverBrook Private Equity, anindependent secondary and fund advisory platform. Prior to that, Mr.McCabe worked for Hamilton Lane, where he helped oversee the firm’s

secondary and co-investment practices, representing over US$3 billion in committedcapital from institutional investors.

James Rorer, Principal, POMONA CAPITALMr. Rorer joined Pomona in 2004 and focuses on secondary investmentanalysis and deal sourcing. He has led many of the firm’s investments inemerging market portfolios. Prior to Pomona, he was a vice president in theprivate equity group at U.S. Trust, where he made direct investments in ventureand growth companies. Prior tot his, he spent several years at Bain & Co. in

their private equity practice. Jim began his career in investment banking at Credit Suisse.

Jonathan Costello, Executive DirectorMORGAN STANLEY ALTERNATIVE INVESTMENT PARTNERSJonathan is an Executive Director for the Private Equity Fund of Fundsgroup. He joined Morgan Stanley in 2007 and has 15 years of relevantindustry experience. Prior to joining Morgan Stanley AIP, Jonathan workedwith Susquehanna International Group, LLP where he was responsible for

secondary private equity investments including investment strategy, businessdevelopment, transaction management, and portfolio construction.

Duncan Littlejohn, Managing DirectorPAUL CAPITAL PARTNERSIn Brazil since 1989, Duncan has been active in principal investing, in boththe US and Brazil. He was previously a partner of BPE Investimentos andits predecessor, Brasilpar, a Brazilian primary private equity fund manager.BPE has invested in 15 Brazilian companies with a combined enterprise

value of over R$1.5 billion. He spent 10 years in Ecuador as CEO of ProductosEcuatorianos (Prodec) a leading coffee and cocoa exporter.

Chris Perriello, Partner, ALPINVEST PARTNERSChris is a Partner in the Secondary Investments team at AlpInvestPartners and focuses on transactions in the US market. He joinedAlpInvest Partners in 2007 from Paul Capital Investments, where he was aPrincipal focused on fund investing. Previously, he was a Principal atInvesco Private Capital responsible for evaluating venture and LBO fund

investments as well as direct investments.

16.00 Afternoon Tea

Plus! LP/ GP Speed Networking (see above for more information / veja acima para mais informações)

16.40 - 17.40

A series of small workshop groups focusing on topics facing Latin Americanmanagers & their investors. The sessions deal with the ‘how to’ of structuringdeals and dealing with specific issues around private equity in Latin America.The discussions will be in small groups of 10-15 people and will runconcurrently. Delegates choose which discussion is of most interest to them,and after a set amount of time, will have the chance to move to anotherdiscussion group.Sessões com pequenos workshops focados em tópicos que gestores latino-americanos e seus investidores vêm enfrentando. As sessões lidam como“como fazer”na estruturação de negócios e com questões específicasrelacionadas ao private equity na América Latina. As discussões acontecerãosimultaneamente entre pequenos grupos de 10 a 15 pessoas. Os participantesdeverão escolher a discussão que mais os interessa e depois de um períodoestabelecido, poderão mudar para outro grupo de discussão.

1. INSTITUTIONALISATION OF FAMILYBUSINESSES

What Does Private Equity Bring To Family Businesses? HowDo Firms Source Deals & Gain Access, & What Are TheStrategies For Professionalisation, Growth & Dealing WithGenerational Change?

STREAM B – BUSINESS ISSUES FOCO NOS NEGÓCIOS

STREAM B – LATIN AMERICA ‘ON THE GROUND’KNOWLEDGE-SHARE SESSIONS

SESSÃO ‘ON THE GROUND’ AMÉRICA LATINA:COMPARTILHE SEUS CONHECIMENTOS

DAY1



FKR2326 SR LA 2012 1_Superreturn A3 11 02/11/2011 14:55

DAY TWO Wednesday 14th March 2012SEGUNDO DIA Quarta-feira, 14 de março de 2012

DAY2


1. INSTITUCIONALIZAÇÃO DAS EMPRESASFAMILIARES

O que o Private Equity Pode Agregar às Empresas Familiares?Como essas Empresas Podem Render Bons Negócios e Quaisas Estratégias para Profissionalização, Crescimento e para seLidar com a Sucessão Na Gestão?Rene Werner, Partner, WERNER & ASSOCIADOSRene Werner teaches the MBA course on ‘Family Business and Entrepreneurship’ at theUniversity of Sao Paulo. Rene also acts as a consultant for Brazilian and internationalfamily groups and leads the corporate development of Werner & Associados.

2. POOL OF TALENTHow Are Challenges Overcome In Sourcing, Retaining &Incentivising The Very Best Portfolio Company Managers?

2. POOL DE TALENTOSComo Superar Desafios no Recrutamento, Retenção eIncentivo dos Melhores Profissionais de Nível Gerencial nasEmpresas?

3. CURRENCIESHow Do Managers Deal With Currency Volatility WhileDelivering A Sustainable Return To Investors?

3. CÂMBIODe que Maneira os Gestores Conseguem Lidar com aVolatilidade do Cambio e ao Mesmo Tempo Entregar RetornosSustentáveis a seus Investidores?

4. TAX REGIMESComparing Changing Tax & Regulatory Regimes In LatinAmerican Jurisdictions: What Do LPs & GPs Need To BeAware Of?

4. REGIMES TRIBUTÁRIOS Como Estabelecer uma Comparação entre as Mudanças deRegimes Tributários e Regulatórios nos Países da AméricaLatina: Sobre Quais Pontos Investidores e Gestores DevemFicar Atentos?17.40 - 18.40

Sector Specific Champagne Roundtable Discussions (see page 8 for more details)

Mesas Redondas Setoriais com Champanhe (veja a página 8 para mais detalhes)

18.00 - 19.30

Gala Networking Reception (see page 8 for more details)

Coquetel de Gala e Networking(veja a página 8 para mais detalhes)

19.30 End of Day One/ Encerramento do Primeiro Dia



08.45

GLOBAL VS. PAN-REGIONAL VS. COUNTRY-SPECIFIC FUNDS VS.

FUNDS OF FUNDSWhat Is The Best Way To Gain Exposure To Latin AmericanPrivate Equity? What Is The Rationale For Investing In EachType Of Fund & What Is The Trade-Off Between Depth &Breadth?

FUNDOS GLOBAIS X FUNDOS PAN-REGIONAIS X FUNDOS LOCAIS X

FUNDOS DE FUNDOSQual a Melhor Forma de Conquistar Exposição em PrivateEquity na América Latina? Quais as Razões para se Investirem cada tipo de Fundo? Quais os Prós e Contras doAprofundamento e da Amplitude?

Moderator: Inés Andrade Moreno, Managing PartnerALTAMAR PRIVATE EQUITYInes has been with Altamar since 2008. Prior to this, Ines spent threeyears as CIO of Grupo Rio Real, a Spanish Family Office with a MultiAsset Class Investment Strategy. Ines has 16 years of direct PrivateEquity experience, being part of the executive committees and boards of

directors at several investee companies. In addition to this, Ines spent four years in theFinancial Advisory M&A department of JP Morgan in the New York and Madrid offices.

Federico SchiffrinSenior Vice PresidentUNIGESTION (see page 8 for biography)

Mario Cortés, DirectorMETLIFE INVESTMENTS LATIN AMERICA (see page 7 for biography)

Paul Karger, Managing PartnerTWINFOCUS CAPITAL PARTNERSPaul co-chairs the firm's Investment Committee and is responsible foridentifying and evaluating specific alternative investment opportunities inreal estate, private equity, venture capital and hedge funds. Prior tofounding TwinFocus, Paul founded and co-managed The Karger Group

within UBS, which consulted on a fee-basis to institutions and high-net-worth individuals.Before joining PaineWebber, UBS's predecessor firm, Paul worked in investment bankingconcentrating in the Life Sciences space.

Erwin Quartel, Investment DirectorROBECO PRIVATE EQUITYErwin joined Robeco in 1999, where he was among the founding teammembers of Robeco Private Equity. Since 2006 he has been responsiblefor the construction of the emerging markets private equity portfolio atRobeco. He serves on a number of investor advisory boards for private

equity funds. Before joining Robeco, Erwin worked as a consultant for ING Group's lifeinsurance business in Central and Eastern Europe.

09.15

LATIN AMERICAN POOLS OF CAPITAL

Analysing The Regulatory Changes Enabling Latin AmericanLPs To Invest More Significantly In Private Equity: How ArePeruvian, Colombian & Chilean Investors Responding To TheChanging Environment? What Are The Barriers To FurtherInvestment Into Private Equity Globally?

RESERVAS LATINO AMERICANASUma Análise das Mudanças Regulatórias que Permitem queLPs Latino Americanos Invistam de Forma mais Significativaem Private Equity: Como Investidores do Peru, Colômbia eChile Estão Reagindo ao Ambiente em Transformação? QuaisSão as Barreiras Existentes para Investimento em PrivateEquity Globalmente? Javier Freyre, CEO, INVITA SEGUROS DE VIDA Y PENSIONES InVita Seguros de Vida y Pensiones is a Peruvian life insurance company owned by INGGroup and the local Wiese family. InVita is the third largest life insurance company inPeru and the market leader in the annuities business with total AUM in excess of US$800 MM. Previously, Mr. Freyre worked as a Senior Vice President of Corporate Financeat Santander Investment where he spent time advising local and internationalcorporations in M&A, capital markets, corporate financing and project financetransactions.

Mateo OssaVice-President, InvestmentsCOLFONDOS (see page 7 for biography)

Jorge Eduardo Espada Salazar, Risk Manager, PROFUTUROMr. Salazar has 17 years of hands-on experience in pension fund andmutual fund business management across Latin America, as well as directresponsibility for the risk management decisions of 5.0 USD billion inwealth management at Scotiabank in Peru.

09.45

KEYNOTE ADDRESSCONSIDERAÇÕES DO KEYNOTE SPEAKER

Antonio Bonchristiano, Co-Chairman & Co-CEOGP INVESTIMENTOSMr. Bonchristiano joined GP Investimentos S.A. in 1993 and has been apartner thereof since 1995. He serves as a member of the board ofdirectors of Estácio Participações, Brazil Hospitality Group andBRProperties. He previously served as a member of the board of directors

of ALL, Gafisa, Hopi Hari and Submarino. He was also previously a chief financial officer ofSuperMar Supermercados and founder and chief executive officer of Submarino. Mr.Bonchristiano is a member of the Association Internationale de Bibliophilie, a member of theGrolier Club and was selected as a Young Global Leader by the World Economic Forum.

10.10

THE SUPERRETURN LATIN AMERICADEBATE

What Is The Best Way To Gain Exposure To Brazil? How DoYou Balance Returns With Liquidity?Each speaker has 5 minutes to make their case, followed by Q&A from thefloor. The audience will vote to decide the winning strategy:

DEBATE SUPERRETURN LATIN AMERICA

Qual a Melhor Forma de se Ganhar Exposição no Brasil? ComoEqualizar Retornos com Liquidez? Cada palestrante terá 5 minutos para apresentar seu estudo de caso, composterior espaço para perguntas e respostas. A audiência irá eleger aestratégia vencedora:

10.10 – 10.25

Moderator: Mark O’Hare, Managing Director, PREQINMark O’Hare is Founder and Managing Director of Preqin, the alternativeassets information service. Preqin provides extensive research and dataon the entire global alternative assets industry, covering private equity,private real estate, infrastructure and hedge funds. Preqin is anindependent business with 63 staff based in London and New York,

providing market-leading online and hard copy data services to many of the world’sleading institutional investors, money managers and advisors.

Private Equity: Patrice Etlin, Managing Partner, Latin AmericaADVENT INTERNATIONALPatrice Etlin joined Advent International in 1997 and started the firm’sinvestment activities in Brazil. He has 17 years of private equityexperience. Previously, Patrice was a partner at International Venture

Partners in São Paulo, a General Representative for Brazil at Matra Marconi Space, asubsidiary of Matra-Hachette e Gec-Marconi, and member of the Strategic andDevelopment Group of Matra-Hachette. Patrice is also the Chairman of LAVCA, a boardmember of ABVCAP, a member of the Listing Committee of Bovespa Mais and a boardmember of GVCepe at Fundação Getulio Vargas.

Public Markets / Mercado de Ações: Marc Fogassa, Founder & Managing PartnerHEDGEFORT CAPITALMarc Fogassa manages long/short strategies in public equities traded inBrazil, as well as direct investment in Brazilian private companies and realestate. Hedgefort has offices in Brazil and the U.S. and provides advisory

and strategic insight in transactions involving Brazilian assets. Dr. Fogassa worked atGoldman Sachs and later in private equity for several years. He is currently on the Boardof Directors of the California Hedge Fund Association.

Real Estate / Imobiliário: Paulo Roberto Almeida Lima, CEO, PATRINVESTIn May 2007, Paulo Roberto founded Patrinvest, aiming the company’swork at the real estate structured finance segment and, since then, thecompany has sold over $1 b in SLB, BTS projects as well as incomegenerator estates. Prior to this, Paulo worked for 10 years as Bamberg’s

head of corporate affairs, where he was responsible for negotiations of over 350,000square meters of industrial and commercial areas for big corporations.

10.25 – 10.40

Followed by panel discussion and Q&A Na sequência, painel de discussão e perguntas e respostas

Patrice Etlin, Managing Partner, Latin AmericaADVENT INTERNATIONALMarc Fogassa, Founder & Managing Partner, HEDGEFORT CAPITALPaulo Roberto Almeida Lima, CEO, PATRINVEST


11.00

BRAZILIAN INVESTOR REGULATIONSTo What Extent Are Regulations Surrounding Brazilian LPsDeterring International Investment Into Brazilian Funds? WhatDoes This Mean For Brazilian Private Equity & What Will BeThe Driver Of Change In The Way Local LPs Invest?

REGULAÇÃO IMPOSTA AOS INVESTIDORESBRASILEIROS

Até que Ponto as Regulações Impostas aos InvestidoresBrasileiros Estão Inibindo o Investimento Internacional emFundos Brasileiros? O que Isso Significa para o Private EquityBrasileiro e O que Motivará os LPs Locais a Mudarem SuaManeira de Investir?Moderator: Otávio Vieira, Partner, FIDES ASSET MANAGEMENTMr. Vieira has recently moved from Safdie Gestao de Patrimonio to Fides AssetManagement as Partner. He began his career as a fixed income sales & tradingassociate. Later on, he performed the role of fixed income senior trader for bankproprietary desks. After graduating with an MBA in the US, he made a transition intowealth management services.

Carlos Augusto F. de Carneiro, Portfolio Manager, BNDESCarlos has a master degree in Businesses Administration, MAB inFinance and a degree in Business Administration. He is currently thePortfolio Manager for Venture Capital and Private Equity Funds atBNDES.

Julie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)Julie joined CPPIB in 2007 and is focused on assessing and managingprimary fund commitments on a global basis. Julie sits on a number ofAdvisory Committees and is responsible for CPPIB’s European and LatinAmerican fund investment activities. Prior to joining CPP InvestmentBoard, Julie worked with The Boston Consulting Group.

Gabriel Amado de Moura, Director of Investments FUNDAÇÃO ITAÚ UNIBANCO

Mauricio da Rocha WanderleyCIOFUNDAÇÃO VALE DO RIO DOCE DE SEGURIDADE SOCIAL(see page 8 for biography)

11.30

MID MARKETIs The Real Opportunity In The Mid Market? How Is IncreasedCompetitiveness In This Segment Impacting The ReturnPotential? How Are Innovative Firms Sourcing The Best Deals?

MID MARKETAs Reais Oportunidades Estão Mesmo no Mid Market? De queForma a Competitividade Cada Vez Mais Intensa NesteSegmento Está Impactando o Potencial de Retorno? Como asEmpresas Inovadoras Estão Despontando como os MelhoresNegócios?

Moderator: Malcolm McLelland, Director - Research andAnalytical Services, EQUILIBRIO CAPITAL BRASILMalcolm has over 20 years experience in accounting, auditing,management consulting, and research. His primary area of expertise is infinancial modelling and econometric analysis. His recent work has focusedon assisting U.S. businesses in analysing and estimating demand in

Brazilian product markets, planning and developing Brazilian operations, and inoptimising business structure to minimise supply chain costs.

DAY TWO Wednesday 14th March 2012

SEGUNDO DIA Quarta-feira, 14 de março de 2012



DAY2



Alexandre Saigh, Managing Partner & Head of Private EquityPÁTRIA INVESTIMENTOSMr. Saigh was one of the Founders of Pátria in 2001 developing andleading the efforts for Pátria to become a leading alternative investment firmin Brazil. Mr. Saigh joined Patrimônio (Pátria’s predecessor company) in1994, as a Managing Partner responsible for private equity business.

Between 1994 and 1997, while developing Patrimônio’s private equity business, Mr. Saighwas CEO and CFO of Drogasil, Pátria’s first private equity investment. Prior to joiningPatrimônio, Mr. Saigh worked at JPMorgan Investment Bank from 1989 to 1994, as a VicePresident for its private equity, corporate finance and M&A divisions.

Erik Peterson, Regional Managing PartnerAUREOS LATIN AMERICA Mr. Peterson has over fifteen years of experience in private equity andinvestment banking. Prior to Aureos, Mr. Peterson worked at ProvidentGroup Limited, Bank America Robertson Stephens and Bank of America. AtBank of America, Mr. Peterson was responsible for US$150 million of the

bank’s equity portfolio in Latin America, which was primarily invested in the financialservices, forestry and energy sectors. He also advised clients on the first powerprivatisations in Peru and Colombia, as well as clients in the oil, gas and telecom sectors inother parts of Latin America.

Jose Fernandez, Managing Director, STEPSTONE GLOBALMr. Fernandez focuses on US-based small market managers, LatinAmerican investments and venture capital and growth equity investments.Prior to founding StepStone, Mr. Fernandez was a Managing Director of aprivate equity investment firm that oversaw over US$15 billion of privateequity commitments for institutional investors. Mr. Fernandez previously

worked with Latham and Watkins LLP’s Private Equity/Investment Fund Group.

12.00

BRAZIL MACROECONOMIC ADDRESSIs The Current Strong Growth Of The Brazilian EconomyUltimately Sustainable? Examining Volatility In Inflation &Interest Rates, Currency Valuation & Capital Flows: HowDependent Is Brazil On The Asian Growth Story & What WouldHappen If Asian Growth Slows?

CONSIDERAÇÕES SOBRE AMACROECONOMIA NO BRASIL

Será que o Crescimento Intenso da Economia Brasileira ÉRealmente Sustentável? De que Forma o País é Dependentedo Crescimento Asiático e o que Aconteceria se a ÁsiaSofresse com a Desaceleração Considerando a Volatilidade naInflação e Taxas de Juros, Valorização do Câmbio e Fluxos deCapital?

Luís Afonso Lima, Chief Economist, Finance DirectorTELEFONICA DO BRASILLuís has been Chief Economist at Telefónica Group since 2005, havingpreviously been Senior Economist at Bradesco. Prior to this, Luís worked atCompanhia Energética de São Paulo, Banco Mercantil de São Paulo-FINASA., Banco Real de Investimentos and Arthur Andersen. Luís is also

President of SOBEET - Brazilian Society for the Study of Transnational Companies, aBrazilian think tank.

12.40

Delegate Quickfire ShowcaseIn this informal session, delegates will have 90 seconds to promote their fund toa panel of LPs without using fund data, statistics or overt comparisons to otherfunds. Our expert LP judging panel give each delegate a score out of 10 forcontent, style and presentation and the winner receives a fabulous prize.Nesta sessão informal, os participantes terão 90 segundos para promover seufundo a um painel de investidores sem utilizar dados do fundo, estatísticas oucomparações com outros fundos. Nosso júri de investidores dará a cadaparticipante uma nota que vale até 10 para o conteúdo, o estilo e a apresentação.O vencedor levará um prêmio incrível!


Plus! ‘Meet The LP’ Hosted Lunch Tables Sign up to share lunch and informal conversation with powerful LPs:

Extra! Mesas de ‘Encontro com Investidores’Inscreva-se para participar de um almoço com um bate-papo informal comgrandes investidores:

Otávio Vieira, Partner, FIDES ASSET MANAGEMENTCarlos Augusto F. de Carneiro, Portfolio Manager for VC/PE Funds, BNDESJulie Gray, Principal, CPP INVESTMENT BOARD (CPPIB)

Plus! VIP Hosted Tables / Extra! Mesas VIPLuís Afonso Lima, Chief Economist, Finance DirectorTELEFONICA DO BRASIL

14.15

THE TREND TOWARDS SECTOR SPECIFIC FUNDS

Is The Latin American Private Equity Market Mature EnoughTo Sustain Sector Specific Funds? Which Sectors SupportSpecific Funds & How Does The Risk/Return Profile CompareWith That Of Generalist Funds?

TENDÊNCIA EM FUNDOS SETORIAIS Será que o Mercado Latino Americano Está Maduro oSuficiente para Sustentar os Fundos Setoriais e ComoComparar Risco e Retorno nesses Fundos com os Fundos dePerfil Mais Generalista?

Christopher Meyn, Partner, GÁVEA INVESTIMENTOSChristopher Meyn joined Gávea Investmentos in January 2006 and is thePartner responsible for the day-to-day management of the Gávea InvestmentFunds (Private Equity) Group. Previously, Christopher served as a ManagingDirector and Investment Committee member for Latinvest AssetManagement and its US-based parent, Globalvest Management Company.

14.45

ENERGY & NATURAL RESOURCESA Comparison Of Opportunities In Energy & NaturalResources In The Various Latin American Markets: How DoesPrivate Equity Get Access To These Opportunities & Are TheRisks Appropriate For The Asset Class?

ENERGIA E RECURSOS NATURAIS Comparativo das Oportunidades em Energia e RecursosNaturais nos Diversos Mercados da América Latina: Como oPrivate Equity Pode Aproveitar essas Oportunidades e Seráque os Riscos São Apropriados a esta Classe de Ativos?

Luiz Armando Sedrani, Head of Private Equity - Structuring &Research, BANCO VOTORANTIM Luiz has more than 14 years of experience in Brazilian equity markets. Hejoined Banco Votorantim in 1996 as an investment analyst for a widerange of industries including telecoms, food, retail and agribusiness. Priorto this, Luiz was an equity portfolio manager, responsible for a portfolio of

USD 700M, as well as sector allocation and derivatives. Since 2007, he has been one ofthe leaders of the private equity team, with active participation in business structuring andinvestment monitoring.

Erik Bethel, Managing Partner, SINOLATIN CAPITALErik Bethel has 17 years of experience in private equity and investmentbanking in the natural resources and infrastructure sectors. He previouslyworked as a Managing Director at China’s first private equity fund--ChinaVest, as well as at JP Morgan Partners. Prior to this, he worked atMorgan Stanley’s Latin America group, and at Emerging Markets

Partnership’s US$1 billion Latin American Infrastructure Fund. His US$4 billion worth oftransaction experience spans both Latin America and China.

Ben McKeown, Partner, SENTIENT GROUPBen has worked in a variety of technical and commercial roles in both themining and oil and gas industries (principally with BP and Total)throughout his career. Prior to joining Sentient in 2007, Ben was involvedin investing in the mining and energy sectors, primarily with Actis, anemerging markets focused private equity group, where he was part of the

minerals, oil and gas team, and was ultimately responsible for oil and gas investing. As aPartner of Sentient, Ben has a focus on Latin America and energy.

15.15

REAL ESTATE Where Are The Best Real Estate Opportunities In LatinAmerica? Who Is Active In This Asset Class & Where DoesLatin American Real Estate Fit In An Alternatives Portfolio?

IMOBILIÁRIOQuais as Melhores Oportunidades em Real Estate na AméricaLatina? Quem se Destaca nesta Classe de Ativos e Onde oReal Estate Latino Americano se Encaixa em um Portfólio?

Adrián Aguilera, Founder and Co-CEOVERTEX REAL ESTATE INVESTORSAdrián has over 20 years of experience in the financial sector, including 7years in corporate and investment banking focused solely on real estate inMexico and the rest of Latin America. From 2007 to 2009, Adrian was aDirector for Latin America in Credit Suisse’s Real Estate Finance and

Securitisations Group. Prior to that, Adrián was Director in GE Real Estate and alsoworked in Banca Serfín, Rabobank International and Societé Generale accumulating vastexperience in corporate finance, investment banking, financial derivatives and real estatefinancing.

Pedro Barcos, Director & Senior Portfolio ManagerPRUDENTIAL REAL ESTATE INVESTORS

Paulo Roberto Almeida Lima, CEO, PATRINVEST (see page 9 for biography)


16.10

RENEWABLESWhere In The Renewables Sector Are The Investible AssetsFor Private Equity? How Are Government Incentives ChangingIn The Various Jurisdictions?

RENOVÁVEISDe que Forma o Setor de Energias Renováveis se Configuracomo um Ativo Interessante para o Private Equity? Como osIncentivos Governamentais têm Mudado nos Países daAmérica Latina?

Ricardo Pedrosa, Director, Private EquityBANIF INVESTMENT BANK Ricardo has over 12 years of experience in investment banking, privateequity and advisory, with principal focus on the infrastructure sector. Priorto working at Banif Investment Bank, he was a member of Depfa Bank'sInfrastructure Finance & Advisory team, where he worked extensively with

public and private sector clients, both on the advisory and also on the structuring andunderwriting of PPP projects. Prior to this, he headed the Business Development team ofBanco Efisa.

Rogério Brenand Pazzim, Investment ManagerELOS - FUNDAÇÃO ELETROSUL DE PREVIDÊNCIA EASSISTÊNCIA SOCIALRogério has been an Investment Manager at Fundação Eletrosul dePrevidência e Assistência Social – ELOS, since 2009. He has previousexperience at Fator Asset Management, is on the auditing committee of

Uirapuru Electric Power Transmission and a member of the committee for the WindPower Complex in Santana do Livramento.

16.40

INFRASTRUCTURE IN BRAZILWhat Opportunities Are Becoming Available Linked To TheLarge Upcoming Sporting Events? Is There More To BrazilianInfrastructure Than The Olympics? How Open Is TheGovernment To Enabling Foreign Investment In InfrastructureTo Generate Appropriate Returns?

INFRAESTRUTURA NO BRASILQuais as Oportunidades que Estão Surgindo em Decorrênciados Grandes Eventos Esportivos que Acontecerão no Brasil?Existem Negócios em Infraestrutura no País Além daOlimpíada? Até que Ponto o Governo Brasileiro Está Aberto aPermitir o Investimento Internacional para Geração dosRetornos Apropriados?

Moderator: Ricardo Pedrosa, Director, Private EquityBANIF INVESTMENT BANK (see page above for biography)

Eduardo Farhat, Principal and Head of Infrastructure BrazilDARBY OVERSEAS INVESTMENTSEduardo is a Principal with Darby Overseas Investments, and Manager ofBrazil Mezzanine Infrastructure, a private equity fund focused on theBrazilian infrastructure sector, which was raised with key Brazilianinstitutional investors. With almost 15 years of experience in running

private equity funds, Eduardo was executive director of AG Angra Investimentos and ofSouthern Cross. Eduardo started his career as a consultant with McKinsey & Co and alsoworked at KPMG and Grupo Vicunha.

Renato Mazzola, Director, Private Equity InfrastructureBTG PACTUALRenato Mazzola joined BTG Pactual in 2011 as the Manager ofInfrastructure. Prior to this, Renato was a Senior Investment Officer at theInter-American Development Bank (IDB) for 5 years, responsible forstructuring the financing of large infrastructure projects in Latin America.

Before this, Renato worked at JPMorgan for 5 years.

Allan Haddid, CEO, BRZ INVESTIMENTOSAllan Hadid joined BRZ Investimentos in May 2010. Previously, he served as CFO andHead of Investor Relations at GP Investimentos. From 2002 to 2006, he was CIO of aBrazilian family office. Prior to this, he managed an international fund of funds and from1998 to 2000 was a portfolio manager at Banco Matrix.

17.10 End of Conference / Encerramento da Conferência

Stream Chair: Mark O'Hare, Managing Director, PREQIN

14.15

ADDING VALUEHow Easy Is It For Managers To Add Value To PortfolioCompanies In Latin America? What Does Private Equity BringTo The Table & What Is The Scope For Regionalisation?

AGREGANDO VALOR Qual o Grau de Facilidade para que os Gestores AgreguemValor às Empresas de Portfólio na America Latina? O que OPrivate Equity Traz para o Cenário e Qual é o Escopo daRegionalização?

14.45

FUNDS OF FUNDSWhat Niche Are Funds Of Funds Finding In Latin America? WhatJustification Do They Provide For An Extra Layer Of Fees?

FUNDOS DE FUNDOSEm Quais Nichos os Fundos de Fundos Estão Focando naAmerica Latina? Como Eles Justificam as Taxas Extras queSão Cobradas?

Steve Cowan, Managing Director, 57 STARSMr. Cowan is a founder of 57 Stars, an independent global investmentmanager owned and managed by its investment team with more thanUSD 1 billion under management focused on partnership and co-investment in select private equity markets outside of the United States,primarily in emerging markets. Prior to 57 Stars, Mr. Cowan served in the

Investment Funds Department of the Overseas Private Investment Corporation (OPIC).

Gerhard Pries, CEO & PresidentSARONA ASSET MANAGEMENT Gerhard is the Founding President of Sarona Asset Management Inc. andthe Sarona funds; Founding Director and Vice-Chairman of MicroVestGeneral Partner Holdings, and Chairman of the Investment Board ofMicroVest Capital Management. He has previously served as CFO of

MEDA, Founding Chairman of MicroCap Capital Management and Latin AmericaChallenge Investment Fund, Founding Director of International Association of MicroFinance Investors, and as Director of numerous companies in the financial services andagribusiness industries.

Arslan Mian, Managing DirectorBLACKROCK PRIVATE EQUITY PARTNERSArslan Mian is responsible for the sourcing, monitoring and diligence ofprimaries, secondaries and direct co-investments at BlackRock PrivateEquity Partners (PEP). Prior to joining PEP in 2005, he was a principalwith UBS Capital Americas focused on direct PE investing in the US, after

spending several years in UBS's Mergers & Acquisitions Group in London and FinancialSponsors Group in New York. Mr. Mian also worked as a Vice President in TD Securities'Financial Sponsors Group.

15.15

FUNDRAISING OUTLOOKExamining The Bifurcation Of Managers: Who Will RaiseFunds Easily & Why? What Happens To The Rest?

PANORAMA DO FUNDRAISINGUma Análise sobre a Divisão de Gestores: Quem Irá LevantarFundos Mais Facilmente e Por quê? O que Acontece com oResto?

Mark O’Hare, Managing Director, PREQIN (see page 9 for biography)

STREAM A – SECTORS & ASSET CLASSESSETORES E CLASSES DE ATIVOS

STREAM B – BUSINESS ISSUESNEGÓCIOS EM FOCO

D



Actis invests exclusively in the emerging markets. With a growing portfolioof investments in Asia, Africa and Latin America; we currently haveUS$4.6bn funds under management. Our work at Actis is driven by theconviction that we bring more than capital to our investments; we bringbenefits to our investee companies, investors and broader society. We callthis ethos the positive power of capital. Combining the expertise of over 100investment professionals on the ground in nine countries, we are proud toactively and positively grow the value of those companies in which weinvest. Actis closed its pan-emerging markets private equity fund, Actis

Emerging Markets 3 (‘AEM3’) in November 2008, with commitments totalling US$2.9bn and its pan-emergingmarkets infrastructure fund, Actis Infrastructure 2, on 30 September 2009 with commitments totalling US$750m.In November 2010, Actis announced its third deal in Brazil in three months. A supermarket chain – CSD; acleaning products business – Gtex; and the country’s top independent retail brokerage – XP Investimentos:diverse businesses serving the growing needs of the consumer classes in a fast-paced, competitive andexhilarating market.

Almeida Bugelli e Valença is a law firm where partners work directly with theclient, integrating teams to value to every project taken on. The partners,Silvia Bugelli, Marcelo Valença and Rodrigo Ratto, have all been lawyers formore than 20 years, contributing to the transformation of an underdevelopedBrazil into the emerging global 21st Century market it is today. The partnerseffectively respond to institutional advancements as well as improvements inthe technology and innovation of their clients’ businesses. The partners atAlmeida Bugelli e Valença are specialists in Capital Markets, Corporate,

Banking, Real Estate, Contracts, M&A Acquisitions, Corporate Management and provide specialist support in Taxand Litigation

Altamar Private Equity was founded in 2003 by threepartners with extensive experience in the fields ofinternational Private Equity and Investment Banking. Thecompany´s objective has always been to offer institutionalinvestors and family offices, mostly from Spain and LatinAmerica, the adequate vehicles through which they can

invest in optimally selected portfolios of top Private Equity Funds globally. In 2004, Altamar was authorised byregulators in Spain to create the first Private Equity Fund of Funds management company in the country. Altamaris currently Spain´s leading player in the Private Equity Fund of Funds market, with €1,2 billion (US$ 1,7 billion)of Assets Under Management distributed among four existing funds (Altamar Buyout Europa FCR, AltamarBuyout Global FCR, Altan Inmobiliario Global FIL and Altamar Secondary Opportunities FCR). A new Fund ofFunds, Altamar V, has been launched recently and will have a series of closings during 2011 and 1H 2012.Altamar´s investment strategy was established with a view to obtain long term capital gains with an optimum risk/return profile within the Private Equity asset class; This is achieved by the creation of well diversified globalportfolios of 15 – 20 funds per Fund of Funds, all selected from a constantly revised “short list” of top performingPrivate Equity managers, with track records spanning through several economic cycles.

We solve economic inefficiency problems of medium-sized enterprises by generatinginformation, providing buyers and sellers with the information they need to evaluateeconomic opportunities, advising them on how to capture such opportunities, andfacilitating efficient information flows and transparent interactions between buyers andsellers. More specifically, we assist our clients in capturing business opportunities throughthe following activities:Research. We conduct industry and firm-level exploratory and empirical research to identifyand measure potential economic opportunities, develop strategies to capture such

opportunities, optimise strategies for our clients, estimate asset and equity values, and design business portfoliostrategies.Inform. We publish our general research findings to broadly inform potential buyers and sellers of opportunities.When appropriate, we disclose specific opportunities and strategies to selected buyers and sellers.Advise. We identify, engage and qualify potential buyers and sellers for private capital market transactions; weuse our research on economic inefficiencies to advise buyers and sellers on optimal strategies, resourceacquisition, negotiations, transaction structure, and pricing.Facilitate. We facilitate confidential information flows and interactions between well-qualified buyers and sellers ina way that promotes transparent, efficient negotiations, transaction structure, and pricing.In short, our activities facilitate the creation and flow of information between buyers and sellers that driveseconomic efficiency.

Warburg Pincus is a leading global private equityfirm. The firm has more than $30 billion in assetsunder management. Its active portfolio of more than125 companies is highly diversified by stage, sector

and geography. Warburg Pincus is a growth investor and an experienced partner to management teams seekingto build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 13 private equityfunds which have invested more than $35 billion in over 650 companies in more than 30 countries. The firm isheadquartered in New York with offices in Amsterdam, Beijing, Frankfurt, Hong Kong, London, Luxembourg,Mauritius, Mumbai, San Francisco, São Paulo and Shanghai. For more information, please visitwww.warburgpincus.com

Actis investe exclusivamente em mercados emergentes. Com um portfóliocrescente de investimentos na Ásia, África e América Latina, temosatualmente US$ 4.6 bilhões em fundos sob nossa gestão. Nosso trabalhona Actis é norteado pela convicção de que nós oferecemos mais do quecapital a nossos investimentos, nós trazemos benefícios às empresasinvestidas, investidores e para a sociedade. Chamamos esse espírito depoder positivo do capital. Combinando a experiência de mais de 100profissionais de investimentos, baseados em nove países, temos orgulhode trabalhar de forma ativa e contribuir positivamente para o valor das

companhias em que investimos. A Actis fechou seu fundo de private equity pan-mercados emergentes, o ActisEmerging Markets 3 (“AEM3) em novembro de 2007, comprometendo um total de US$ 2.9 bilhões e seu fundode infraestrutura pan-mercados emergentes, Actis Infrastructure 2, em setembro de 2009, comprometendo umtotal de US$ 750 mil. Em novembro de 2010, a Actis anunciou seu terceiro negócio no Brasil em três meses.Uma cadeia de supermercados – CSD, uma empresa de produtos de limpeza – Gtex e a maior corretoraindependente de varejo do país – XP Investimentos: diversos negócios servindo a necessidade de crescimentodas classes consumidoras em um mercado acelerado, competitivo e estimulante.

Almeida Bugelli e Valença Advogados Associados é onde os sócios trabalhamdiretamente com o cliente, integrando as equipes, de forma a agregar valoraos projetos. Os sócios Silvia Bugelli, Marcelo Valença e Rodrigo Ratto sãoadvogados há mais de 20 anos e contribuíram para transformar o Brasilsubdesenvolvido e regional do século 20 em país emergente e global noséculo 21. Atuaram e atuam nos avanços institucionais e de formatecnológica e inovadora nos negócios de seus clientes. Somos especialistas

em Mercado de Capitais, Societário, Bancário, Imobiliário, Fusões e Aquisições, Gestão Corporativa e suporteespecializado em Tributário e Contencioso.

A Altamar Private Equity foi fundada em 2003 por trêssócios com experiência no Private Equity internacional e emBancos de Investimento. O objetivo da empresa sempre foifornecer a investidores institucionais e Family offices, emsua maioria espanhóis e latino americanos, a maneira

adequada para que pudessem investir de forma otimizada em portfólios do que existe de melhor em Fundos dePrivate Equity globalmente. Em 2004, a Altamar foi autorizada pelos órgãos reguladores da Espanha a criar aprimeira empresa gestora de Fundos de Fundos de Private Equity do país. A Altamar é hoje o líder de mercadoem Fundos de Fundos de Private Equity, com 1,2 bilhões de Euros (1,7 bilhões de Dólares) de ativos geridosdistribuídos entre quatro fundos (Altamar Buyout Europa FCR, Altamar Buyout Global FCR, Altan InmobiliarioGlobal FIL and Altamar Secondary Opportunities FCR). Um novo Fundo de Fundos, Altamar V, foi lançadorecentemente e terá uma série de fechamentos entre 2011 e 2012. A estratégia de investimento da Altamar ébeseada em ganhos de capital no longo prazo com uma ótima relação entre risco e retorno no Private Equity.Isso tem sido alcançado com a criação de portfólios globais bastante diversificados de 15 a 20 fundos por Fundode Fundos, todos selecionados a partir de uma criteriosa lista dos gestores de Private Equity com as melhoresperformances, com um repertório que passou por diversos ciclos econômicos.

A Equilibrio Capital resolve o problema da ineficiência econômica das médias empresasatravés de geração de informação, provendo compradores e vendedores com informaçõesnecessárias para avaliar as oportunidades econômicas, assessorando-os em comoidentificar e aproveitar tais oportunidades, e propiciando um eficiente e transparente fluxode informações entre os compradores e os vendedores.Mais especificamente, assistimos nossos clientes na identificação e captura deoportunidades de negócios através das seguintes atividades:Pesquisar. Conduzimos pesquisas empíricas sobre a indústria para identificar e mensurar

potenciais oportunidades econômicas, desenvolver uma estratégia para identificar e aproveitar estaoportunidades, otimizar as estratégias para nossos clientes, estimar o valor justo dos ativos e “equity”, e definirestratégias para o portfólio de negócio.Informar. Disponibilizamos nossas pesquisas para o mercado, informando potenciais compradores e vendedoresqualificados, sobre as oportunidades identificadas. Quando apropriado, divulgamos oportunidades específicas eestratégias para compradores e vendedores selecionados.Assessorar. Identificamos, contatamos e qualificamos potenciais compradores e vendedores interessados emtransações no mercado de capitais (“private placement”), utilizamos nossas pesquisas sobre ineficiênciaseconômicas para assessorar compradores e vendedores na definição da melhor estratégia, obtenção derecursos, negociação, transação, estruturação e definição do valor (“price”).Facilitar. Facilitamos a distribuição de informações confidenciais e a interação entre os compradores evendedores qualificados de forma a promover uma negociação transparente e eficiente, sobre a estrutura datransação e sobre o “price” da negociação.Estas atividades facilitam a criação e o fluxo de informações entre os compradores e vendedores que levam aeficiência econômica.

Warburg Pincus é líder global entre as empresas deprivate equity. A companhia tem mais de 30 bilhõesde dólares de ativos sob seu gerenciamento. Seuportfólio ativo tem mais de 125 empresas e é

altamente diversificado por estágio, setor e localização geográfica. A Warburg Pincus é um investidor experientecom grande expertise na gestão de times com o objetivo de construir empresas sólidas e de valor sustentável.Fundada em 1966, a Warburg Pincus captou 13 fundos de private equity que investiram mais de 35 bilhões dedólares em 650 empresas de mais de 30 países. A Warburg Pincus está sediada em Nova Iorque com escritóriosem Amsterdã, Pequim, Frankfurt, Hong Kong, Londres, Luxemburgo, Ilhas Maurício, Bombaim, São Francisco,São Paulo e Xangai. Para mais informações, acesse HYPERLINK "http://www.warburgpincus.com/" \o"blocked::http://www.warburgpincus.com/http://www.warburgpincus.com/" www.warburgpincus.com.

ABOUT YOUR SPONSORS SOBRE OS PATROCINADORES


16.10

ESGThe Evolution Of Socially Responsible Investing & ESG. WhatAre The Drivers Of This Trend & What Do LPs Expect FromGPs In Terms Of Governance, Transparency & Information?

SUSTENTABILIDADE, RESPONSABILIDADESOCIAL E AMBIENTAL

A Evolução do Investimento Socialmente Responsável eSustentável. Quais São os Motivadores dessas Tendências eo Que os Investidores podem Esperar dos Gestores emTermos de Governança, Transparência e Informação?Stephen Fischer, Investment ManagerBLUE ORCHARD INVESTMENTS

Joachim Schumacher, Director, Equity & Mezzanine, DEG (see page 8 for biography)

16.40

CASE STUDY ON IMPACT INVESTINGHow Is Impact Measured & What Are Appropriate ReturnExpectations?

ESTUDO DE CASO SOBRE O IMPACTO DO INVESTIMENTO

Como Mensurar o Impacto e Quais São as Expectativas deRetorno Mais Apropriadas?

Maria Cavalcanti, Chief Strategy OfficerFUNDACIÓN AVINAMs. Cavalcanti has served as Chief Strategy Officer at Fundación AVINAfor the past three years where, among other responsibilities, she overseesthe foundation’s efforts to foster collaborative partnerships withsustainable businesses and programs throughout Latin America, know as

the Inclusive Markets Initiative.

17.10

End of Conference/ Encerramento da Conferência


DAY2

Speaking, Sponsorship &Exhibition Opportunities Still

Available

Oportunidades de Palestras,Patrocínio e Exposição Ainda

Estão Disponíveis

To promote your company to this fantasticaudience please contact:

Para promover sua empresa a essa fantásticaaudiência, entre em contato conosco:

Latin America: Kelly Naomi, tel: +55 11 3017 6843 e-mail: [email protected]

Rest of World: Ian Law, tel: +44 (0)20 7017 7297 e-mail: [email protected]

Endorsed by Media Partners


Registration Form Register Now – Five Easy Ways!1. Fax this form to +44 (0)20 7017 7807; 2. Telephone +44(0)20 7017 7200; 3. Email: [email protected] or 4. www.superreturnlatam.com. Always quote your VIP CODE when registering.

Ficha de InscriçãoCinco Meios de Inscrever-se Agora!1. Fax: +55 11 3017 6913 ; 2. Telefone +55 11 30176888; 3. Email: [email protected] 4. www.superreturnlatam.comSempre peça seu código VIP ao se inscrever

● Main Conference: 13th - 14th March 2012● Conferência: 13 a 14 de março de 2012● Summit: 12th March 2012

Summit: 12 de março de 2012

www.superreturnlatam.com

Dates/Data

1st Delegate/1o Participante: Name/Nome

Job title/Cargo Department/Departmento

Direct Tel/Telefone Mobile Tel/Celular

Email Fax

I would like to receive information on future events & services via email. By giving you my email address I am giving ONLYIIR companies the permission to contact me by email. Gostaria de receber informações sobre futuros eventos e serviços por email. O envio de informações está autorizado apenas pelas empresas do Grupo IIR.

❑ Yes! I would like to receive info on future events & services via fax/Sim, gostaria de receber informações sobre futuros eventos e serviços por fax

2nd Participant/2o. ParticipanteName/Nome



Email Fax



3rd Participant/3o. ParticipanteName/Nome



Email Fax



Head of Department /Superior do DepartamentoName/Nome



Email Fax

Booking Contact /Nome Para Contato:Name/Nome



Email Fax

COMPANY DETAILS/DADOS DE SUA EMPRESA Company Name/Endereço

Nature Of Company’s Business/Ramo de Atividada

Address

Venue Details /LocalTivoli Hotel, Sao Paulo, Brazil

Download hotel booking forms atwww.superreturnlatam.com Faça o download de reserva do hotel em:www.superreturnlatam.com

Please do not cover VIP codeCONFERENCE CODE: FKR2326

Please Select Your Package / Escolha seu pacote Dates / DatasBook By / Inscrições até

2nd December 20112 de Dezembro de 2011

SAVEEconomize

Book By / Inscrições até 10th February 2012

10 de Fevereiro de 2012SAVE

Economize

Book After / Inscrições após 10th February 2012

10 de Fevereiro de 2012SAVE

Economize

❑ 3 DAY PACKAGE: Main Conference / Conferência Principal +❑ LP Summit❑ Private Equity As An Asset Class Workshop

12-14 March 201212 a 14 de março

de 2012$3298 $900 $3598 $700 $3798 $500

❑ 2 DAY PACKAGE:Main Conference Only / Apenas Conferência Principal

13-14 March 201213 a 14 de março de

2012$2199 $400 $2399 $200 $2599

❑ 1 DAY PACKAGE: Summit Only / Apenas Summit❑ LP Summit ❑ Private Equity As An Asset Class Workshop

12 March 201212 de março de 2012 $1599 $100 $1699 $1699

FREE for public pension funds, endowments, foundations, sovereignwealth funds, DFIs and ILPA members (subject to verification).Maximum 2 free passes per organisation. To apply, please contact Laura Griffin, VIP Delegate Relations Manager at [email protected]

Multi-booking Discount: If you register more than 2 delegates, the 3rd and each subsequently registered delegatewill receive 50% off the fee for any packages that include the main conference.* All discounts are subject to approval. Discounts cannot be combined. The discounts apply to the price at the date of registration. Discounts canonly be claimed at the time of registration. Savings include Multiple Booking and Early Booking discounts Discounts can only be claimed at the time of registration and is off the rate at that time. Discounts can not be combined. The VAT rate is subject to change and may differ from the advertised rate. The amount you are chargedwill be determined when your invoice is raised. Please note the conference fee does not include travel or hotel accommodation costs.Grátis para Fundações, Doações, Fundos de Pensão e Fundos Soberanos (sujeitos à aprovação). Para saber maiscontate: [email protected] Descontos para participantes subsequentes da mesma empresa. Desconto para grupos: Na inscrição de mais de dois participantes, o terceiro e cada um dos participantes subsequentes receberá 50% de desconto para qualquer um dos pacotes que incluir a Conferência. Descontos só podem ser negociados no momento da inscrição e são sobre o valor da inscrição vigente. Válidopara descontos para grupos e inscrições antecipadas. Além disso, os descontos não podem ser combinados etodos estão sujeitos à aprovação. A taxa de câmbio está sujeita à variação e pode não ser a publicada. Ressalta-se que o preço da conferência não inclui despesas de passagem ou hospedagem.

Please use this form as our request for payment. Fax and phone bookings should be made with a credit card number, orfollowed up by a posted registration form. Places are only guaranteed by full payment, which must be received before the conference. Formulário para seleção da forma de pagamento. Inscrições por fax ou pelo telefone devem apresentar um número de cartão de crédito, ou estarem relacionadas a um formulário enviado. As vagas são garantidas pelo pagamento total, de forma que o mesmo deve ser integralizado antes da data da conferência. I will pay by/Formas de pagamento■■ Cheque/bankers draft made payable to ICBI for/Cheque endereçado a $__________________________■■ Invoice to be sent to my company//Pagamento será feito pela empresa■■ Bank transfer: full details of bank transfer options will be given with your invoice on registration/

Transferência bancáriaPlease debit my/Debitar no Cartão de CréditoMASTERCARD ■■ VISA ■■ EUROCARD ■■ AMERICAN EXPRESS ■■

Card Number/Número do cartão

■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■CCV No ■■■■■■ Expiry Date/Data de expiração__________________ With The Sum Of/Valorv__________

Signature/Assinatura__________________________________________________________________________

CANCELLATION POLICY/POLÍTICA DE CANCELAMENTO: Should you be unable to attend, a substitute delegate is always welcome at no extra charge. Alternatively, we will make a prompt refund less service charge of10% of the fee for cancellations received in writing (letter or facsimile) no later than 18th January 2012. Where notice is given between this date and 01st February 2012, refunds will be 50% of the fee; thereafter we regret thatno refunds can be made.CANCELAMENTOS E SUBSTITUIÇÕES: Caso não possa comparecer, o participante poderá ser substituído semônus extra. No caso de cancelamento, faremos um reembolso menos a taxa administrativa de 10% sobre o preçoaté 18 de Janeiro de 2012. Cancelamentos entre esta data e 01 de Fevereiro de 2012, o reembolso será de 50%do valor pago. Os inscritos que não cancelarem sua participação até esta data e não comparecerem ao eventoserão cobrados no valor integral acordado. No caso de inscrições já pagas, o não comparecimento do inscrito no evento não implica no ressarcimento do valor previamente pago. Todas as notificações devem ser feitaspor escrito pelo fax, e-mail ou endereço indicados nesta ficha.PERSONAL DATA/DADOS PESSOAISPersonal data is gathered in accordance with the Data Protection Act 1998. Your details may be passed to othercompanies who wish to communicate with you offers related to your business activities. If you do not wish to receive these, please tick the box Additional Requirements. Please notify ICBI at least one month before the conference date if you have any additional requirements e.g. wheelchair access, large print etc.Dados pessoais serão apenas acessados por empresas relacionadas a seus negócios. Caso não queira receberqualquer comunicação, selecione a opção ao lado. Em case de assistência especial, como acesso para cadeirasde rodas, favor notificar o ICBI até um mês antes do evento.

PAYMENT DETAILS/FORMAS DE PAGAMENTO

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