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Private Equity Institute

Private Equity Institute

Risk Management Symposium 2014

Time: 
19:30, 3 Dec 2014 to 17:30, 4 Dec 2014
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Location: 
Saïd Business School
Address: 
Park End Street, Oxford, OX1 1HP
For any enquiries:
Sponsor: 
LDS Partners, 17Capital

Private equity’s illiquid nature means it is often perceived as one of the riskiest asset classes. However, it is precisely the associated risk premium that attracts institutional investors to private equity. Harvesting the illiquidity risk premium requires specific risk management techniques. Have investors’ risk management capabilities kept pace with their growing exposure to private equity?

The Symposium was a unique opportunity for major industry stakeholders and academics to discuss the evolving issues relating to risk management in private equity.

Sponsored by LDS Partners.

Location: Saïd Business School, University of Oxford, Park End Street, Oxford, OX1 1HP.

Format: Chatham House Rule.

Pre-Symposium reception
Wednesday 3 December

18:30-19:00 Registration and drinks reception
19:00-19:10 Welcome and introduction
Professor Tim Jenkinson, Professor of Finance and Head of the Finance Faculty, Saïd Business School
19:10-19:40 Pre-dinner presentation 
Risk management practices at private equity firms
Professor Florin Vasvari, Associate Professor of Accounting, London Business School
19:40 Networking dinner, sponsored by 17Capital and LDS Partners

Symposium
Thursday 4 December

8.30-9.00 Registration and coffee
9.00-9.15 Welcome and Introduction
Thomas Meyer, Director, LDS Partners
9.15-10.15 Panel discussion
Private equity and strategic asset allocation: risk and return expectations, and considerations across segments

Moderator: Elias Korosis, Head of Strategy, Hermes GPE

Panel members: 
Davide Deagostino, Principal, Portfolio Management, BT Pension Scheme Management, 
Oliver Gottschalg, Associate Professor, Strategy and Business Policy, HEC Paris
Andres Reibel, Vice President, Pantheon Ventures
John Renkema, Senior Portfolio Manager, Private Equity, APG
10.15-11.00 Presentation 
Commitment risk in private partnerships

Ludovic Phalippou, Associate Professor of Finance, Saïd Business School
11.00-11.30 Coffee break
11.30-12.15 Case study
Creating value through risk management in private equity – introduction to preferred equity
Augustin Duhamel, Managing Partner, 17Capital
12.15-13.15 Lunch
13.15-14:00 Presentation
A decade of experience with cash-flow based risk modelling of portfolios of private equity funds
Ivan Herger, Managing Director, Capital Dynamics
14.00-15.00 Panel discussion
The challenges of implementing risk management as a limited partner and approaches to solve them

Moderator: Federico Galizia, Head of Risk Management, European Investment Fund

Panel members:
David Coleman, Managing Director, Risk Management, EBRD
Oliver Gottschalg, Associate Professor, Strategy and Business Policy, HEC Paris
Didier Guennoc, Director, LDS Partners
Ivan Herger, Managing Director, Capital Dynamics

15.00-15.15 Wrap-up: Conclusions and the way forward
Professor Tim Jenkinson, Professor of Finance and Head of the Finance Faculty, Saïd Business School
15.15 Networking reception

View Oliver Gottschalg's paper, Corporate Governance and Value Creation: Evidence from Private Equity.

View the booklet.

Queries?

Please contact Clare Ruthven-Stuart and Harriet Montague by emailing pei.events@sbs.ox.ac.uk.

Speakers

Tim Jenkinson View profile

Tim Jenkinson is a Professor of Finance and head of the finance faculty at Saïd Business School, University of Oxford. He is also the Director of the Oxford Private Equity Institute.

Ludovic Phalippou View profile

Ludovic Phalippou is Associate Professor at Saïd Business School, University of Oxford. He specialises in private equity and asset management and is a member of the Private Equity Institute.
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