Private Equity
and Venture Capital

22 - 26 August 2022 Johannesburg, South Africa

21 – 25 November 2022 Dubai

Register Now! Limited Seats Available!

Public R16, 999.00

Online R11, 999.00

Online R11, 999.00

Public R16, 999.00

Online R11, 999.00

$2500.00 USD - DUBAI

What You Can Expect:

The private equity industry has grown into one of the most well-known and now one of the largest asset classes within the private capital/alternative asset space. At no point in history has the private equity space been as competitive as it is today – global deal volumes ballooned from the $30 billion range in the mid-1990s to nearly $3 trillion in 2017.

Today’s global economy, generally constrained capital, and flood of new market entrants challenge even recently successful investment strategies. To maintain sound judgment and discipline that will sustain your portfolio, you must be able to adapt and apply innovative investment approaches in a rapidly changing market.

Private Equity and Venture Capital helps you become a more successful investor by raising your level of investment expertise. Addressing the full range of industry models—from venture capital to growth equity to buyouts—the program explores critical issues related to industry infrastructure, portfolio strategies, and decision-making processes.

Throughout the course, guest speakers and practitioners will be invited to provide some examples of concrete applications of the contents presented.

Why should delegates attend? :

  • Evaluate the impact of market cycles so you can take advantage of opportunities with the most potential
  • Apply best practices for making investments—within your borders and in other countries
  • Assess opportunities in distressed and/or emerging industries
  • Make better investment decisions by examining how current earnings, risk, and organizational change influence deal source, valuation, and portfolio mix
  • Move quickly to select the best deals and negotiate the best terms with confidence
  • Monitor the progress of portfolio companies and choose appropriate exit strategies
  • Successfully scale your firm by managing deals and integrating operations across multiple locations
  • Expand your network by building strong relationships with other experienced industry leaders

Who Should Attend:

  • Investment Officers and Investment Committee Members
  • Private equity, Venture Capital and Hedge Fund Investment Managers
  • Bankers, Investment Bankers and Security Analysts
  • Private Bankers and Wealth Managers
  • Portfolio managers
  • Structured finance professionals
  • Lawyers wishing to understand modern finance
  • Risk Managers
  • Investment managers or directors
  • Asset managers responsible for the firm’s investment portfolio

The course is made up of four different modules:

    • Introduction to Private Equity and Venture Capital
    • Discovering Private Equity Investors: Legal Issues and Taxation
    • Management of Private Equity and Venture Capital Funds
    • Company Valuation And Deal Making In Private Equity Settings.

Course Outline:

What is Private Equity?

  • Broad definition
  • Terminology
  • Buyout and venture outlined and distinguished
  • Fund versus direct investing
  • Other types in outline: PIPEs, development capital, mezzanine
  • Geographical dispersion
  • How the industry has grown over time

The Nuts and Bolts– How PE Funds Operate.

  • How do PE funds work?
  • Structure – the GP/LP model
  • Fees and carried interest
  • Allocated, committed, drawn-down and invested capital
  • The J-curve
  • Cashflows
  • The investment/divestment cycle
  • Fundraising
  • Key documentation

Private Equity Returns– the Basics.

  • Understanding the J-curve
  • Compound versus annual returns
  • Vintage year returns
  • IRRs
  • Multiples – TVPI, DPI, etc.
  • Median returns
  • Upper quartile returns
  • Pooled returns
  • Time-weighted returns
  • Valuation

Accounting and Reporting for PE Funds

  • Annual accounts
  • Quarterly reports
  • EVCA valuation guidelines
  • NVCA valuation guidelines
  • BVCA valuation guidelines
  • The role of the auditor
  • The role of the advisory committee
  • Timely reporting

Buyout – an Outline

  • Types of buyouts
  • Size
  • Sector
  • Geography
  • Other “buyout” activity
  • Debt
  • Earnings
  • Control
  • Barriers to Entry

Tax Treatment of PE Funds and LP Interests

  • Pension funds
  • UK taxpayers
  • Special case – insurance companies
  • Double taxation
  • Accounting Standards and other specifics
  • Required information

Venture – an Outline

  • Applications, not technology
  • Sector
  • Stage
  • The US model
  • The US model comes to Europe
  • Required skills
  • Cultural and attitudinal differences

How to Analyse Buyout

  • Return drivers
  • Earnings
  • Multiple increase in a perfect market
  • Multiple increase in an imperfect market
  • Leverage (Debt)
  • Timing

Buyout Returns

  • US versus Europe
  • Skills
  • Imperfect markets
  • The great fund size debate
  • Conclusions and predictions

How to Analyse Venture

  • Money multiples
  • Valuation
  • Cost and value
  • IRRs and multiples
  • Going in equity
  • Percentage within fund
  • Home runs

Venture Returns

  • US versus Europe
  • Returns by fund stage
  • Multiples drive IRRs
  • Impact of fund size
  • European venture
  • Conclusions and predictions

Due Diligence

  • At the fund of funds level
  • At the fund level
  • At the company level
  • Qualitative
  • Quantitative
  • Think outside the box
  • Targeted, not blanket
  • Monitoring PE funds

Planning your Investment Program

  • Cash flow modelling
  • Over-commitment
  • Diversification by time
  • Co-investment
  • Secondaries
  • Un-invested capital – Boreal Ecosystem Wealth Accounting System (BEWAS) Stock Market beta

The Role of PE within a Modern Portfolio

  • Yale model
  • Diversification
  • Risk
  • Long-term investors
  • Liquidity
  • Pensions fund returns

End of the workshop

IN HOUSE AND ONLINE TRAINING

While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.

For Registration and other Training arrangements,
contact us on the detail below.
SOUTH AFRICA Tel: +27 11 057 6001
KENYA Tel: +254 11 353 1082
WhatsApp +27 79 574 0389
info@bmktraining.co.za / www.bmktraining.com