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Pantheon Capital Partnership Conference | Nov 1-2, 2001 | Hong Kong

Join the Pantheon Capital Partnership Conference in Hong Kong to explore the Asian private equity and venture capital market. Learn from industry experts and connect with potential investment partners. Don't miss this opportunity!

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Pantheon Capital Partnership Conference | Nov 1-2, 2001 | Hong Kong

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  1. VENTURE CAPITAL PARTNERSHIP CONFERENCENOVEMBER 1, 2 0 0 1HONG KONG Prepared by Pantheon Capital (Asia) Limited Regulated by the SFC

  2. The Players’ RolesAsian Private Equity / Venture Capital Market

  3. The Pantheon Group • A specialist investing in private equity/venture capital funds globally • Our role is to channel international capital into the most attractive opportunities in the private equity/venture capital market • 18-year track record with long-term outperformance relative to benchmark indices • Over US$5 billion under management • Has been investing in Asia since 1985

  4. Drivers for Private Equity Success • Relationship based on equity • Global context • Time • Corporate governance

  5. The Private Equity Industry Fund Managers: Expansion stage MBO Distressed Pre-IPO Early stage Capital “+” Capital Entrepreneurs/ Management Investors Profit & Capital Profit & Capital

  6. Types of Investor • Fund of funds and “gatekeepers” • Government and quasi-government agencies • Public pension funds • Insurance companies • Companies • Charitable foundations • Corporate pension funds • Private family groups • Private individuals

  7. Investors’ Choices Bonds Government Corporate Equities Domestic Asset Classes Foreign Alternative Assets Private Equity Hedge Others Property Commodities Cash

  8. Overview of Investor Requirements Top down and bottom up…

  9. Types of Fund Managers The market is segmented…

  10. Understanding how value is added Operating improvement (Restructuring of under-performing businesses) Leverage Business Growth (Cash flow (Selection of management and growth/market financial engineering) opportunities) PE “magic” (Buying cheap and exiting in a bull market) Value Creation

  11. Entrepreneur’s Considerations Thorough due diligence is a must: • Is the fund manager passive? Preference for active fund manager? • Does the fund manager understand my business? • Are the fund manager’s expectations achievable? • Corporate Governance • Financial • Business direction • Exit avenue for investor • Is my interest aligned with the fund manager’s? (Remember fund manager needs to exit!) • Will I enjoy spending the next few years with this group of people?

  12. Conclusion PRIVATE EQUITY INVESTOR IS A PARTNER NOT A BANK PICK THE RIGHT PARTNER

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