Wednesday, March 11, 2015
- 2015 Women's Private Equity Summit Golf Tournament — Nine-hole; best-ball tournament; beginners welcome
- Golf Clinic for Beginners — A "green" social networking event
- Wine Education Session: "Tips From the Vintners" -- Listen and learn; swirl, sniff, sip and socialize
- Coastal Walk — Enjoy a 90-minute walk overlooking the spectacular coast alongside the hotel property
NOTE: Shuttle bus service is available to Summit attendees staying off-property. To serve as your home away from home, Summit attendees will have access to our "Summit Lounge" and The Ritz-Carlton Spa throughout the event.)
Come join us for a festive wine tasting reception for early arrivers. The evening will feature red and white varietals produced and being served by top women vintners from Napa and Sonoma. Be sure to say hello to representatives of the Summit’s Platinum and Gold Sponsors: KPMG; Proskauer; The Abraaj Group; Conway MacKenzie; Denning & Company; GCM Customized Fund Investment Group; KKR; Landmark Partners; and Neuberger Berman. And, take the opportunity to visit each vineyard’s table to chat with the winemakers and leadership from the evening’s wine tasting table hosts: Polaris Partners, Top Tier Capital Partners, and others to be announced.
Day One – Thursday, March 12, 2015
Sponsored by Neuberger Berman
Get a jumpstart on networking before the Summit really gets going. Grab a coffee and croissant, take a seat, and get to know fellow attendees in a relaxed and casual setting.
(by-invitation-only for pensions, endowments, and foundations)
Facilitated by: Denning & Company, GCM Grosvenor, and Proskauer
- Beth Falk, Founder and Managing Director, Women's Private Equity Summit; President, Falk Marques Group LLC
ABOUT THAT PRIVATE EQUITY ALLOCATION … CIOs GIVE THEIR PERSPECTIVE ON HOW THE SECTOR FITS INTO THEIR INVESTING PLANSInvestors are all over the map these days when looking at private equity, venture capital and real estate. Some pension funds and endowments consider these sectors vital to reaching necessary investment goals. Others are proceeding cautiously; concerned that the sector's returns are not worth the risk. A group of chief investment officers kick off the conference with a candid discussion of their own views and what they are looking to do – or not do – in 2015.
- Kim Y. Lew, Vice President and Co-Chief Investment Officer, Carnegie Corporation of New York
- Jennifer Paquette, Chief Investment Officer, Colorado Public Employees' Retirement Association
- Dhvani Shah, CFA, Chief Investment Officer, Illinois Municipal Retirement Fund
- Betty Tse, Chief Investment Officer, Alameda County Employees' Retirement Association
EXCESS CAPITAL IN THE MARKETPLACE: WEIGHING THE IMPACT ON VALUATIONS, LIQUIDITY AND RETURNSStrong IPO and M&A activity has increased the value of companies in recent years, a positive for owners and founders, but a tricky dynamic for investors, who must weigh the potential of a company living up to a high valuation vs. simply passing on an investment that could pay off big. Our panelists dive into this key issue, giving their perspective on current pricing, how they decide whether to do a deal, and the hoped-for return.
- Ann Huntress Lamont, Managing Partner, Oak HC/FT and Oak Investment Partners
- Rebecca Lynn, Co-Founder and General Partner, Canvas Venture Fund
- Adrianna Ma, Managing Director, General Atlantic
- Caroline McBride, Co-Founder and Chief Investment Officer, Forum Partners
- Raquel Palmer, Partner, KPS Capital Partners
GETTING TO THE EXIT … AN INTERVIEW WITH BESS WEATHERMANDuring 2013, Warburg Pincus Managing Director Elizabeth "Bess" Weatherman saw five of her portfolio companies sold, including most notably Bausch & Lomb for $9 billion. Knowing the right time to sell and the right time to invest is a crucial part of being a successful private equity player. Bess sits down with KPMG Managing Partner Debbie Messemer to offer her perspective on the private equity sector, how she and the firm think about investing and exiting and where she sees the health care sector headed in 2015.
- Bess Weatherman, Managing Director, Warburg Pincus
- Interviewer: Deborah Messemer, Managing Partner, KPMG
Sponsored by Landmark Partners
SPOTLIGHT ON PRIVATE EQUITYPutting the Dry Powder to Work: What GPs Are Doing and What LPs Want to See
The private equity industry is struggling right now to deploy some $400 billion. Valuations are high and public-to-private deals are getting more difficult. Deals, though, are getting done. In many cases, firms are opting to buy companies owned by other private equity firms. Other firms are zeroing in on carve outs from corporations or even acquiring venture-backed startups. Our panel discusses the deal environment, the challenges that firms are facing and the outlook for returns.
- Anita Ng, Managing Director, Cambridge Associates (Facilitator)
- Jennifer Kerr, Managing Director and Head of Funds, Private Investments, Canada Pension Plan Investment Board
- Zeena Rao, Managing Director, ICV Partners
- Alisa A. Wood, Member, Client and Partner Group, KKR
- Shani Zindel, Founding Partner, Livingbridge
SPOTLIGHT ON VENTURE CAPITALWhat's Next for the Industry? Will Success Once Again Kill the Golden Goose?
Many venture firms have generated lucrative returns in recent years, thanks to a strong IPO market and active corporate acquisitions. But success is not always a good thing, prompting more LPs to come into the market, resulting in more capital in the sector. Our panel explores the current state of the industry, the impact of rising valuations and the sectors that they are focused on – now and in the future.
- Kelly Meldrum, CFA, Partner and Head of Primary Investments, Adams Street Partners (Facilitator)
- Wende Hutton, General Partner, Canaan Partners
- Cindy Padnos, Founder and Managing Partner, Illuminate Ventures
- Gül Yanmaz-Karsligil, CFA, Senior Managing Director and Vice President, Private Equity Markets, Liberty Mutual Investments
SPOTLIGHT ON FIRM MANAGEMENTSteering Clear of Trouble: Is Your Firm Doing Enough?
Private equity and venture capital firms find themselves and their companies under unprecedented scrutiny. They are still getting a feel for complying with Securities & Exchange audits, while continuing to put in place strong compliance, anti-corruption and insider trading guidelines, among other things. Firms and companies also need to be vigilant to ensure their systems aren't hacked. In short, there's a lot for firm counsels and compliance officers to worry about. Our panelists discuss the areas of most concern to their firms and some of the steps they've taken to try stay on the straight and narrow.
- Andrea Kalliaras, CPA, Partner, Alternative Investments, Audit, KPMG (Facilitator)
- Paula A. Bosco, Esq., Managing Director and Chief Compliance Officer, New Mountain Capital
- Katherine Dowling, Director, Head of Legal and Investor Relations, Thoma Bravo
- Pamela Hendrickson, Chief Operating Officer, The Riverside Company
SPOTLIGHT ON GLOBAL INVESTINGSlowing Growth in Asia: Will It Have an Impact on Investments and Returns?
For several decades, investors have been drawn to Asia by the tremendous growth taking place in the region. But now that the economies are slowing – especially in China – the model used by private equity firms and venture capital firms is likely to change. The panel gives its view on the steps firms will need to take to generate value going forward, the types of deals that may become more popular, and the outlook for returns.
- Melissa J. Ma, Co-Founder and Managing Partner, Asia Alternatives Management (Facilitator)
- Wei Hopeman, Managing Partner, Arbor Ventures
- Soo Boon Koh, Managing Partner, iGlobe Partners
- Miranda Tang, Managing Director and Head of ARIA, CLSA Capital Partners
SPOTLIGHT ON REAL ESTATEThe View From the Top Floor: How LPs See the Real Estate Sector Going Forward
Institutional investors have flocked in recent years to real estate funds, driven by the opportunity and returns. Will that trend continue or will investors begin utilizing secondary funds or do more direct deals? A group of limited partners share their view on the sector and their expectations for 2015.
- Michelle L. Creed, Vice President, Landmark Partners (Facilitator)
- Elizabeth Marshall, Managing Director, Hall Capital Partners
- Margaret McKnight, Managing Director and Co-Chief Investment Officer, Metropolitan Real Estate
- Jamie Shen, Senior Vice President, Callan Associates
SPOTLIGHT ON BDCsThe Lending Game: Understanding the Importance of BDCs
The last few years have seen a substantial increase in assets managed by "business development companies," with estimates showing that the assets of publicly traded BDCs have almost doubled since the financial crisis. These non-bank lenders have emerged as major players in the middle market, helping to fill the void created by the impact of Dodd-Frank on banks. However, there is still significant growth potential given that the BDC asset class had less than 10% of total leveraged loan issuances in 2013. Whether you are looking to create a vehicle that would permit you to gain access to permanent capital, you are interested in learning about a untapped potential funding source, or you are curious about the possibility of "VC" BDCs, don't miss this session where panelists explain BDCs, and key players give their perspective on the sector and the wide variety of investments that these investors can actually make.
- Monica Shilling, Partner, Proskauer (Facilitator)
- Marilyn Adler, Managing Director, Medley Management
- Diane Ferguson, Managing Director and Head of Financial Institutions, Mizuho Bank
- Sandra Forman, Senior Counsel, Proskauer
- Penni Roll, Chief Financial Officer, Ares Capital Corporation
Sponsored by The Abraaj Group
HOW CALPERS IS LOOKING AT THE INVESTING WORLDNo pension fund in the world carries as much weight as the California Public Employees' Retirement System, or CalPERS. Its decisions can drive or stall investing classes. They are a major player whether it's calling out public companies for governance issues or partnering with private equity firms to do transactions. Anne Stausboll, the pension fund's CEO, gives the Women's Private Equity Summit a glimpse into the organization and how it is thinking about the investment landscape, pensioners and, of course, alternative investments.
- Anne Stausboll, Chief Executive Officer, California Public Employees' Retirement System (CalPERS)
SPOTLIGHT ON PRIVATE EQUITYTargeting Transformation: When It Makes Sense to Dive In!
Private equity firms are showing an increasing willingness to get involved with more innovative companies – ones that are perhaps driving a trend or are utilizing game-changing technology. But, what does it take to feel comfortable with these companies both in terms of investing in them and driving them to success? Our panel gives their perspective on how they approach such companies and get their hands around a company's shelf life and what it will take to move it forward.
- Shari Young Lewis, Senior Consultant, Private Equity, Aon Hewitt Investment Consulting (Facilitator)
- Susan Bihler, Vice President, Catalyst Investor
- Sonya Brown, General Partner, Norwest Venture Partners
- Betty Hung, Principal, Vista Equity Partners
SPOTLIGHT ON VENTURE CAPITALI Cut My Cable Cord and Turned My Car Into a Taxi: Weighing the Impact of the Millennial Generation
They've been called Generation Y, the Boomerang Generation and the ME Generation. Call them what you will, the group born between 1980 and 2000 are driving venture investment with groundbreaking ideas and new business models. For Exhibit A, look no further than Facebook Founder Mark Zuckerberg. Equally important, Millennials are turning established industries like hotels, taxis, rental cars and even weddings, on their heads. Our panel examines this "disruptive" generation, providing insight into how they are trying to work with them and the impact Millennials are likely to have in the years ahead.
- Patricia Nakache, General Partner, Trinity Ventures (Facilitator)
- Anne Dwane, Chief Business Officer, Chegg
- Jamie Gutfreund, Chief Marketing Officer, Deep Focus/The Intelligence Group
- Jenny Lefcourt, Partner, Freestyle Capital
- Ilana Stern, Founder and Chief Executive Officer, Weddington Way
- Shanna Tellerman, Partner, Google Ventures
SPOTLIGHT ON FIRM MANAGEMENTThe Secondary Market: How LPs and GPs Use It
The secondary market is on pace for its fifth consecutive year of record-breaking volume. Secondary funds are raising increasingly larger funds, LPs are embracing the idea of rebalancing portfolios, and banks now face a real deadline for reducing private equity holdings. Additionally, GPs are using the secondary market to generate liquidity for their mature and tail-end funds. All of this has resulted in a very active market. Our panelists give their take on how they use the secondary market, the opportunities they are seeing and what they expect for 2015 – particularly related to price.
- Kathryn M. Regan, Director, Landmark Partners (Facilitator)
- April Evans, Partner and Chief Operating Officer, Monitor Clipper Partners
- Saguna R. Malhotra, Managing Director, Private Equity, Stanford Management Company
- Robin A. Painter, Partner, Co-Chair of the Corporate Department and Global Co-Head of the Private Investment Funds Group, Proskauer
- Julia Winterson, Director of Private Equity and Co-Investment, University of California Regents
SPOTLIGHT ON GLOBAL INVESTINGAfrica: Will It Yield the Results That GPs and LPs Are Seeking?
Carlyle Group Co-Founder David Rubenstein last year cited the investment opportunities in Africa and said that private equity was poised to take off on the continent. But is it truly ready to, in Rubenstein's words, "explode" in the coming years? Are there enough opportunities for the numerous firms setting up shop on the continent and will there be enough liquidity events to generate needed and necessary returns? Our panel gives their perspective on private equity in Africa, where it has been and where it is headed.
- Nadiya Satyamurthy, Senior Director of Consulting Services, EMPEA (Facilitator)
- Huda Al Lawati, Managing Director, The Abraaj Group
- Runa Alam, Co-Founding Partner and Chief Executive Officer, Development Partners International (DPI)
- Carolyn Campbell, Founding Partner and Managing Director, Emerging Capital Partners
- Carmel Daniele, Founder and Chief Executive Officer, CD Capital Natural Resources
SPOTLIGHT ON REAL ESTATEPutting Capital to Work: Where Investors See Opportunities
Real estate prices are again on the rise. There is increased competition and lenders remain cautious. So what are firms that are investing looking to do? Is there opportunity in secondary markets or distressed situations? Does housing or retail look promising? Will putting up a new building yield bigger returns than buying an existing one? The panel gives their take on how they are looking at the real estate market in 2015.
- Kathleen Browne, Managing Director, Wellesley College (Facilitator)
- R. Lynn King-Tolliver, Senior Vice President, Heitman
- Susan A. Kreusch, Chief Financial Officer, MacFarlane Partners
- Deborah Ulian, Senior Director, Asset Management Institutional Business Development, TIAA-CREF Asset Management
SPOTLIGHT ON LIFE SCIENCESTales From the Lab: How Life Science Investors Are Thinking About Deals and Returns
The past two years have been strong ones for life science investors, with their companies attracting attention from both acquirers and public investors. But will it continue? Our panel considers this vital sector, asking if investors have found a way to generate strong returns without huge risks and dollars.
- Jennifer Schmelter, Director, Private Equity Markets, Partners HealthCare System (Facilitator)
- Nada Jain, PhD, Managing Director, Golden Seeds
- Adele C. Oliva, Partner, 1315 Capital
- Heather Preston, Partner and Managing Director, TPG Biotech
WORKSHOP ITerms and Conditions 2015
- Stephanie Carter, General Partner, ABS Capital Partners
- Rebecca Connolly, Partner, Fairview Capital Partners
- Julia T. Crosby, Managing Director, Williams College
- Christine A. Gogan, CFA, Senior Portfolio Manager, California Public Employees' Retirement System (CalPERS)
- Arrie R. Park, Managing Director and Chief Legal Officer, Hellman & Friedman
WORKSHOP IIWhen the Clock Is Ticking: How to Ensure That You Are Valuing Companies Correctly
- Courtney D. McBean, Managing Director, Greenhill & Co.
- Jennifer M. Mulloy, Managing Director, TA Associates
- Missy Narula, Principal and Head of Valuation and Portfolio Management, TPG
- Lorraine Spurge, Chief Executive Officer, Maplestone Capital Advisors
- Maria Walker, Lead Partner, Bay Area Alternative Investments Audit Practice, KPMG
- Julia Winterson, Director of Private Equity and Co-Investment, University of California Regents
WORKSHOP IIICapital Raising: Strategies & Options
- Jenny P. Chen, Principal, Jasper Ridge Partners
- Hollie Moore Haynes, Founder and Managing Partner, Luminate Capital Partners
- Lara Jeremko, Associate, Private Investments, UTIMCO
- Elin W. Szymanowski, Senior Investment Analyst-Private Equity, LACERA Investments
- Martha Tredgett, Executive Director, LGT Capital Partners
Sponsored by KKR
What Will the Future Look Like? These fast-paced talks, inspired by the TED-talk format, offer strikingly original ideas about the future of our world. We think you'll find our presenters' insights to be challenging, maybe inspirational, and most definitely thought-provoking.Space Technology That Can Change the Game for Business
- Featured Speaker: Christyl Johnson, Deputy Center Director for Technology and Research Investments, NASA Goddard Space Flight Center
- Featured Speaker: Susan Kasser, CFA, Managing Director, Neuberger Berman
- Featured Speaker: Sheila Lirio Marcelo, Founder, Chairwoman and CEO, Care.com
- Diana H. Frazier, Co-Founder and Senior Advisor, FLAG Capital Management
- Interlocutor: Kate Mitchell, Co-Founder and Partner, Scale Venture Partners
Sponsored by KPMG and Proskauer
Day Two – Friday, March 13, 2015
Sponsored by BSG Team Ventures
- Yoga to Start the Day − Led by Jenny P. Chen, Principal, Jasper Ridge Partners
- Core Stretch
- Guided Meditation
(NOTE: Early morning shuttle bus service is available to Summit attendees staying off-property to facilitate participation in Friday morning's Wellness Activities. To serve as your home away from home, Summit attendees will have access to our "Summit Lounge" and The Ritz-Carlton Spa throughout the event.)
Sponsored by Conway MacKenzie
LEADING BY LEVERAGING CULTURE
- Jennifer A. Chatman, Paul J. Cortese Distinguished Professor of Management, Haas School of Business, University of California, Berkeley
SPOTLIGHT ON EDUCATIONHow Will Technology Reshape Classrooms and Students?
Ensuring that our children are not only getting the best education but also keeping pace with students around the world is a constant concern for teachers, parents and even students. This session will dive into some of the issues facing educators and the role that entrepreneurs are playing or may play.
- Elizabeth "Betsy" Corcoran, Co-Founder and Chief Executive Officer, EdSurge
- Kim Vender Moffat, Principal, Sterling Partners
- Deborah Quazzo, Managing Partner, GSV Advisors
SPOTLIGHT ON AGINGWill We Want to Live to 120?
People are living longer. That's a fact. But the consequences of a longer life span demand attention, as elders confront the loss of mobility and independence, diminished capacity, and financial insecurity. The panelists give their perspective on an area that will affect each of us and the products, services and technologies that may improve the quality of our lives.
- Katy Fike, PhD, Partner, Generator Ventures; Co-Founder, Aging 2.0
- Casey Lynch, Co-Founder and Chief Executive Officer, Cortexyme
- Janet Pirrello, Managing Director, Investments, Blue Moon Capital Partners
SPOTLIGHT ON FOODThe Hunt for Better Tastes and Nutrition
Both food and our diets are constantly evolving. The quest for things that taste good and are good for us is never ending. Our panelists provide their perspective on this important challenge and the efforts to tackle it.
- Jordan Gaspar, Managing Partner, AccelFoods
- Meena Mansharamani, President and Founder, Intend Growth
- Hadley Mullin, Senior Managing Director, TSG Consumer Partners
SPOTLIGHT ON CLIMATE CHANGETackling Climate Change
The world is getting warmer and with that comes questions about the impact on our environment now and in the years ahead. In this session, our speakers discuss how entrepreneurs are attempting to reduce the usage of fossil fuels and what it will take for widespread adoption.
- Janine Guillot, Board Member, Equilibrium Capital
- Nancy Pfund, Founder and Managing Partner, DBL Investors
- Lila Preston, Partner, Generation Investment Management
SPOTLIGHT ON COLLECTIBLESThe Joy of Collecting for Profit
Investors continue to look for new and different ways to make money. This session will dive into the world of wine and art and how to think about these household items as investments.
- Terri Kahan, Owner and Founder, Terri Kahan Fine Art
- Jennifer Williams-Bulkeley, Founder and Managing Partner, AOC Investment Advisors
CREATING A CULTURE OF SUCCESSKeeping a private equity firm alive and thriving is no easy task. Not only do partners need to find and develop great companies but they must also focus on such things as hiring, compensation, succession and setting the right tone. If the firm does it right, it is positioned for success. If it does it wrong, the firm could end up with everything from law suits to disgruntled LPs. The panel tackles this increasingly important issue, giving their view on what firms should and should not be doing to get the right people and, in turn, the right results.
- Huda Al Lawati, Managing Director, The Abraaj Group
- Suzanne Donohoe, Member and Head of Client and Partner Group, KKR
- Kate Mitchell, Co-Founder and Partner, Scale Venture Partners
- Kelly M. Williams, President, GCM Customized Fund Investment Group
LPs INNOVATE IN THE SEARCH FOR RETURNSThe days of limited partners simply filling out their private equity and venture capital portfolios with the so-called "name" brands is ending. There is a greater awareness by LPs that they need to be flexible and creative to generate returns. They are realizing that they need to take chances on new names and new strategies. In this special panel, a group of innovative investors from the family and endowment worlds discuss their programs, their view of the private equity landscape and some of the creative ways they are deploying capital.
- Shruti Chandrasekhar, Investment Professional, Azim Premji Foundation
- Karin Geldfeld, Director, Asset Management, Abbot Downing
- Jean Hoysradt, Chief Investment Officer, Mousse Partners Limited
- Cara C. Nakamura, Principal, Princeton University Investment Company
- Katherine Hill Ritchie, Chief Executive Officer, PEX Global
* Program subject to change
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