Infrastructure Investor: Berlin 2008
Maximising returns in a booming asset class
6-7 February 2008, Radisson SAS Hotel, Berlin
Day 1: 6 February 2008
08:45 – 09:00
Chairman’s welcome
Philip Borel, Editorial Director, PEI Media
Section 1: Global infrastructure trends 2008 - challenges and opportunities
09:00 – 09:25
Opening keynote address: The state of global infrastructure
Dr. Barrie Stevens, Deputy Director, International Futures Programme, OECD
09:25 – 10:15
Government panel: The public sector perspective on infrastructure finance
Transferring risk from the public to the private sector
Balancing financial, social and political return on investment
The rationale behind public investing in private funds
Moderator:
Maciej Firla-Cuchra, Managing Consultant, Oxera
Panel Members:
François Bergère, Secretary General of the PPP Taskforce, Ministry of Economy - Finance & Industry, France
Alberto Germani, Chief of PPP/PFI Operations, EC Harris Italy
Leonidas Korres, Special Secretary, Ministry of Economy & Finance Special Secretariat for PPP, Greece
David Yeung, President & CEO, AIG Global Investment Group
10:15 – 10:45
Coffee10:45 – 11:35
Fund manager panel 1: The outlook for global infrastructure investing
Mature vs. emerging markets
Demand and supply: equity capital formation and asset availability
Capital market trends after the liquidity crunch
Moderator:
Simon Gray, Co-Head of UK Infrastructure, Babcock & Brown
Panel Members:
Mumtaz Khan, Co-Founder & CEO, Middle East & Asia Capital Partners
Raja Parthasarathy, Principal, IDFC Private Equity
Paul Woodbury, Co-Head of Infrastructure Team, Henderson Private Equity
Jason Zibarras, Principal, JPMorgan Asset Management
Section 2: Fund strategies for infrastructure
11:35 – 12:00
Keynote address: The importance of transparency in infrastructure funds
Michael Queen, Managing Partner - Infrastructure, 3i
12:00 – 12:50
Fund manager panel 2: Differentiating the fund
Geographic vs. asset-specific focus
Public equity, private equity and bond-type returns
How PFI and PPP projects differ from private infrastructure investment
Moderator:
John Campbell, Senior Partner, Campbell Lutyens & Co
Panel Members:
Jason Glover, Partner, Clifford Chance
Tony Mallin, Chief Executive Officer, Star Capital Partners
Robert McClatchey, Managing Director – Infrastructure, Barclays Private Equity
Michael Till, Partner, Actis
12:50 – 14.15
Lunch
14:15 – 15:15
Workshops I
Workshop A:
Fund terms in detail
Open vs. closed-ended funds: getting the holding period right
Fund economics and manager compensation
Alignment of interest between managers and investors
Moderator:
Michael Halford, Partner, SJ Berwin
Participants:
Gisela von Krosigk, Senior Vice President, KfW IPEX-Bank
Jonathan Leinmuller, Director, Probitas Partners
Workshop B:
Operating infrastructure assets post acquisition
The expertise needed
Recruiting and retaining the right people
Troubleshooting and crisis management
Moderator:
Paul Woodbury, Co-Head of Infrastructure Team, Henderson Equity Partners
Participants:
Jeffrey Altman, Senior Asset Manager, First State Investments
Adrian Ewer, Chief Executive, John Laing
15:15 – 16:15
Workshops II
Workshop C:
Renewable energy infrastructure
Projected growth of a new asset class
Financing new projects and acquisitions
Connecting to a grid: the practicalities of distribution
Moderator:
Tom Murley, Head of Renewable Energy Team, HgCapital
Participants:
Dr. Jürgen Franke, Executive Director - Energy Team, Global Specialised Finance, WestLB
Paul Rittersma, Senior Portfolio Manager Infrastructure, PGGM Investments
Workshop D:
Deal risk management
Due diligence
Structuring the deal
Risks to take on and risks to avoid
Moderator:
Alastair Burns, Marketing Director - Private Equity and M&A Practice, Marsh
Participants:
Marcus Kleiner, Managing Director - Head of Transportation/PPP, Bayerische Hypo und Vereinsbank
Brendan Moylan, Partner, Clifford Chance
Michael Queen, Managing Partner - Infrastructure, 3i
16:15 – 16:45
Coffee
Section 3: Infrastructure as an asset class
16:45 – 17:10
Keynote address: Investor perspective - how to build a diversified infrastructure fund investment portfolio
Urs Wietlisbach, Executive Vice Chairman, Partners Group
17:10 – 18:00
Investor panel: Limited partner expectations
Capital allocation: private equity vs. real estate vs. infrastructure
Holding periods and performance requirements
The art and science of fund manager selection
Moderator:
Robert van Schaik, Head of Private Equity & Infrastructure, Mn Services
Panel Members:
Karl Ralf Jung, Chief Executive Officer, Allianz Private Equity Partners
Serge-Alexandre Lauper, Senior Partner, SCM Strategic Capital Management
Jeppe Starup, Head of Private Equity, PensionDanmark
Macky Tall, Vice-President Investments – Infrastructure, Caisse de Depot et Placement du Quebec
18:00 – 20:00
Cocktail reception
Day 2: 7 February 2008
08:45-09:00
Chairman’s recap
Philip Borel, Editorial Director, PEI Media
Section 3: Financing trends
09:00 – 09:25
Opening keynote address: The future of financing infrastructure transactions
Marc Reboul, Senior Director - Sector Corporate Finance, RBS Global Banking & Markets
09:25 - 10:15
Financing panel: Infrastructure debt financing
Capital markets appetite for infrastructure assets
The use of mezzanine and other specialised products
Refinancing options
Moderator:
Neil Rutledge, Client Service Director Government and Infrastructure Advisory, Grant Thornton UK LLP
Panel Members:
Thierry Déau, President, Meridiam Infrastructure
René Kassis, Head of Infrastructure, Dexia Credit Local
Marcus Kleiner, Managing Director - Head of Transportation/PPP, Bayerische Hypo und Vereinsbank
10:15 – 10:45
Coffee
Section 4: Exits and outlook
10:45 – 11:35
Exit panel: Harvesting gain from infrastructure investments
Successful exit strategies for infrastructure assets
IPOs, trade sales and private equity secondaries
The political implications of taking money off the table
Moderator:
Valeria Rosati, Investment Director, Hastings Funds Management
Panel Members:
Thor Johnsen, Principal, Arcapita
Aashish Kalra, Co-Founder & Managing Director, Trikona Capital
Scott Swensen, Chairman, Conduit Capital Partners
David Yeung, President & CEO, AIG Global Investment Group
11:35 – 12:00
Keynote address: Future investor appetite for infrastructure – analysis of a growth story
John McCarthy, Head of Infrastructure Europe, RREEF
12:00 – 12:50
Closing panel: Are we in a bubble? Threats and opportunities for investors in infrastructure investing
Capital overhang: is there a wall of money in infrastructure?
Regulation: pending changes and their likely effects on investors
The top ten risks facing infrastructure financiers today
Moderator:
Barbara Weber, Founding Partner, Bibs Capital
Panel Members:
Danny Latham, Head of Infrastructure Investments for Europe, First State Investments
Roman Matkiwsky, Executive VP - Europe (excl. UK), Skanska Infrastructure Development
Corinne Namblard, Managing Director & CEO, Galaxy Management Services
Richard Sobel, Chief Executive Officer, Alfa Capital Partners
Lunch & end of conference