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Private Equity Institute

Private Equity Institute

Risk Management Symposium 2017

Time: 
18:00, 29 Nov 2017 to 16:00, 30 Nov 2017
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Location: 
Saïd Business School
Address: 
Park End Street, Oxford, OX1 1HP
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Sponsor: 
LDS Partners, 17Capital

LDS Partners, Luxembourg, and the Private Equity Institute again hosted the annual Risk Management Symposium on 29 to 30 November 2017.

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. Risk management in this area is still predominantly associated with risk avoidance, whereas harvesting the illiquidity risk premium requires specific management techniques for seeking risks in order to achieve an attractive risk/return relationship for private equity portfolios. The symposium aims to advance private equity portfolio management practices and build a community of private equity practitioners and academics with a view to extending both the theoretical understanding and practical management of the issues raised.

The symposium is a unique opportunity for major industry stakeholders and academics to discuss the current state of risk management in private equity, and plans for the future.

Programme

Conference booklet

The symposium was held under Chatham House Rule.

Pre-Symposium reception
Wednesday 29 November

18:30-19:00 Registration and drinks reception
19:00-19:10

Welcome and introduction

Tim Jenkinson, Professor of Finance and Director, Private Equity Institute, Saïd Business School, University of Oxford, with an introduction to the evening by
Thomas Meyer, Conducting Officer, MJ Hudson, Luxembourg

19:10-20:00

Pre-dinner presentation: Simple strategies for a complex world  Presentation

Florian Artinger, Max Planck Institute for Human Development

20:00-22:00 Networking Dinner, sponsored by LDS Partners and 17Capital

Symposium
Thursday 30 November

08:30-09:00 Registration and welcome coffee
09:00-09:15

Welcome and introduction

Thomas Meyer, Conducting Officer, MJ Hudson,  Luxembourg 

09:15-10:00

Decision-making biases in VC/PE and how to address them  Presentation

Patrick Sheehan, Managing Partner, ETF Partners

10:00-10:45

The pay-off method for real option valuation of illiquid assets  Presentation

Mikael Collan, Lappeenranta University of Technology

10:45-11:15 Coffee break
11:15-12:00

An option-theoretic approach to risk management for private equity

Private equity capital commitments: an options-theoretic risk management approach

The power of “negative beta”: why every portfolio should include private equity

Andrew Freeman, Chief Risk Officer, Ardian

12:00-13:00 Lunch
13:00-13:45

In conversation: The importance of stress testing for private equity risk management  Presentation

Didier Guennoc, Managing Partner, LDS Partners in conversation with

Juan Montalvo Bressi, Senior Risk Officer, Ardian

13:45-14:30

Panel Discussion: The art of cash flow risk management

Moderator: Elias Korosis, Partner, Hermes GPE

Haakon Blakstad, Partner, Validus Risk Management

Augustin Duhamel, Managing Partner, 17Capital

Philippe Jost, Senior Vice President, Capital Dynamics

Julian Mash, Founder and CEO, Vision Capital

14:30-15:00

Applying Artificial Intelligence to Fund Cash-Flow Forecasting  Presentation

Thomas MeyerConducting Officer, MJ Hudson, Luxembourg 

15:00-15:30

Wrap-up: Conclusions and the way forward

Tim Jenkinson, Saïd Business School, University of Oxford

15:30 onwards Networking reception

Queries?

Please contact Clare Ruthven-Stuart or Marie van Boekel by emailing pei.events@sbs.ox.ac.uk

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