PRIVATE EQUITY FORUM

ITALIAPEFORUM.COM

PROGRAMME

ITALIAFOSTERING THE WIDER ITALIAN ECONOMY THROUGH PRIVATE EQUITY INVESTMENT SPONSORS: MEDIA PARTNER:

WEDNESDAY, 4 NOVEMBER 2015 FOUR SEASONS HOTEL, MILAN

GOLD SPONSOR:

BRONZE SPONSOR:

WELCOME

CONTACTS

ATTENDEES:Contact Stephanie O’Sullivan

+44 (0) 20 7316 9812or email

Stephanie.O’Sullivan@incisivemedia.com

SPONSORS:Contact Tom Mackinnon on

+44 (0) 20 7316 9743or email

Tom.Mackinnon@incisivemedia.com

SPEAKERS:Contact Genevieve Furtado on

+44 (0) 207 316 9164or email

Genevieve.Furtado@incisivemedia.com

“An invaluable opportunity for a global market update and for networking” - Partner, Alto Partners SGR

The mood across the Italian private equity market in recent months has certainly been upbeat compared with previous years as the after effects of the financial downturn continue to be smoothed out. Indeed, since the second half of 2014, Italian GPs proved the attractiveness of the local market through a raft of successful fundraises.

Returning investor appetite for Italian vehicles is concrete evidence of the local private equity market’s appeal. LPs are keen to capitalise on the country’s ability to produce international market leading companies within specialised niches, namely for industrials, technology and manufacturing. Furthermore, Italy continues to dominate when it comes to pioneering design in the automotive, fashion and interior sectors.

What is more, when it comes to deal opportunities, the acquisition landscape appears much brighter thanks to a mood shift among entrepreneurs and business owners. While Italy has long produced quality family-owned companies, private equity has previously struggled to significantly penetrate this market. However, as family owners grow older (around a quarter of businesses are owned by people who are aged 65 or over), more are concerned with finding a capable successor rather than simply keeping the business in the family. This presents an ideal opportunity for private equity to buy into privately-owned companies and take on more ambitious buy-and-build strategies.

And consolidation activity is already underway in the banking sector, kicked off by Bain and Advent’s joint acquisition of Istituto Centrale delle Banche Popolari Italiane in June. While this presents an appealing opportunity for large-cap international players to take advantage of a fragmented market, this kind of consolidation could also lead to easier access to finance for buyouts.

While the outlook for Italian private equity continues to improve, not all is rosy. The market remains subject to growing levels of political instability, which acts as a sword of Damocles for those building out deal pipelines. And while Italian leaders make efforts to address reforms around crucial matters including employment law, the overly-bureaucratic system means any changes could take several years to filter through.

The 9th annual unquote” Italia Private Equity Forum will address these issues head on, with keynote speaker Fabrizio Pagani of the Italian Economy and Finance ministry providing a detailed look at government reforms and how they will impact private equity. The private equity leaders will discuss how to put recently raised cash to work, while our LP panel will decipher investor expectations.

We look forward to welcoming you at the forum.

ALICE MURRAY EDITOR-IN-CHIEFUNQUOTE”

Giovanni Orsi, Principal,

Coller Capital

Giuseppe Prestia, Partner, Charterhouse

Nino Tronchetti Provera, Managing Partner & Founder,

Ambienta

Dimitri Christopher, Partner, PwC

Claudio Sposito, Chairman and CEO,

Clessidra

Edoardo Lanzavecchia, Managing Partner, Alpha Associates

FABRIZIO PAGANI, Head of the Office

Italy’s Minister of Finance

Fabrizio Pagani is Head of the Office of Italy’s Minister of Finance. In this capacity, he supports the Minister on key domestic and international economic and financial issues and heads a team which serves as policy unit for the Minister.

In particular, he is leading / spearheading / coordinating the work of the Italian government on public and private investment, finance for growth, privatization, banks and other financial institutions. Since 2014, he is non-executive Director of ENI and Chairman of ENI’s Scenarios and Sustainability Committee. In the previous Italian government, he has served as senior counsellor and G20 Sherpa of the Prime Minister. In this capacity, he also led the task force “Destinazione Italia” on the attraction of Foreign Direct Investment. Previously, he has been Head of the Sherpa Office of the Organisation for Economic Co-operation and Development (OECD) and Special Political Counselor to the OECD Secretary-General.

SPEAKERS

KEYNOTE SPEAKER

“Very well organised conference. It was interesting to have angles from both the GPs and LPs” - Partner, Tal Investments

WEL

COME

08:30 REGISTRATION AND REFRESHMENTS

09:15 UNQUOTE” WELCOME ADDRESSAlice Murray, Editor-in-Chief, unquote”

09:25 CHAIRMAN’S OPENING REMARKS Dimitri Christopher, Partner, PwC

KEYN

OTE

09:35 ITALY – AN INTROSPECTION INTO WHAT LIES AHEAD FOR THIS REVITALISED EUROPEAN ECONOMY• Industry overview – What are the key market drivers of the Italian economy? • Looking at the new government reforms and their impact on the private equity industry• What are the most current and prevalent trends in the Italian economy and the key issues that still pose as a

hindrance to Italy’s growth?

Fabrizio Pagani, Head of the Office of the Minister of Economy and Finance for Italy

PRIVA

TE EQ

UITY

LEAD

ERS

DEBA

TE

10:05 ITALY – NOW OR NEVER?• The Italian private equity market – What makes Italy unique and sets it apart from the rest of Europe? • Comparing and contrasting different fundraising approaches. Are first time fund managers proving

more successful?• With GPs sitting on growing cash piles, can deals still be sourced for reasonable valuations? Will the

key to deal sourcing lie in Italian SMEs? Or will the biggest opportunities be in turnaround and distressed investments?

Moderator: Emanuela Petteno, Partner, PwC

Claudio Sposito, Chairman & CEO, ClessidraGiuseppe Prestia, Partner, CharterhouseGiovanni Orsi, Principal, Coller CapitalGiampiero Mazza, Partner, CVC Capital Partners

INTE

RVIEW

10:40 EXPLORING ENVIRONMENTAL SOCIAL AND CORPORATE GOVERNANCE• Dual perspective – How much weightage is placed on ESG when choosing a fund manager• Is ESG just a box ticking process? Can it really be measured?

Nino Tronchetti Provera, Managing Partner & Founder, Ambienta

PANE

L DIS

CUSS

ION

11:00 THE IMPORTANCE OF BEING LOCAL• Where do you need to be on the ground to find quality deals?• Italian entrepreneurs – Handing down or selling down? Is succession the key to deal sourcing in the Italian

SME market?

Edoardo Lanzavecchia, Managing Partner, Alpha Associates

Paolo Gambarini, Founding Partner, Wise SGR

Luigi Tommasini, Head of fund-of-funds, Fondo Italiano d’InvestimentoFabrizio Carretti, CEO, Permira

11:25 Morning break

EXEC

UTIV

E ADD

RESS 11:55 AN INVESTOR’S PERSPECTIVE OF THE PRIVATE EQUITY LANDSCAPE IN THE REGION

• What are the main attractions to GPs operating in Italy compared to their counterparts across the rest of Europe?

• How to determine the best performing funds in ItalyFurther panelists to be confirmed, please visit www.italiapeforum.com for updates

PROGRAMMEHOW TO REGISTER

W: ITALIAPEFORUM.COM E: TOM.SIMMONS@INCISIVEMEDIA.COM T: +44 (0) 207 316 9843

“An opportunity for assessing the actual situation and brainstorming on potential developments of our industry.” - Managing Partner, Atlantis Partners

PANE

L DIS

CUSS

ION 12:30 A LOOK AT DEBT FINANCING OPTIONS IN ITALY

• Are alternative lenders more supportive of private equity than traditional lenders?• What are the risks and rewards of taking on alternative debt? • Are they worth the extra costs?Further panelists to be confirmed, please visit www.italiapeforum.com for updates

LP PA

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12:55 DECIPHERING INVESTOR EXPECTATIONS• What attracts investors to the Italian market? What challenges are faced by investors when investing in the

current market?• How have allocations changed and developed?• How can fund managers better position themselves? Is specialisation more important than

geographical focus?• Where are higher and more sustained returns being generated?

Joe Topley, Managing Director, StepStone

Dhruv Sharma, CEO, Marcena CapitalFurther panelists to be confirmed, please visit www.italiapeforum.com for updates

CASE

STUD

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13:30 BAIN, ADVENT AND CLESSIDRA ACQUIRE ICBPI• About ICPBI and the nuts and bolts of the deal• A look at how to create lasting value in the investment• The future plans

Moderator: Dimitri Christopher, Partner, PwC

Luca Bassi, Managing Director, Bain CapitalFurther panelists to be confirmed, please visit www.italiapeforum.com for updates

14:10 CHAIRMAN’S CLOSING REMARKSDimitri Christopher, Partner, PwC

14:15 LUNCH BREAK AND NETWORKING OPPORTUNITY

HOW TO REGISTERW: ITALIAPEFORUM.COM E: TOM.SIMMONS@INCISIVEMEDIA.COM

T: +44 (0) 207 316 9843

“Well rounded approach, informative and overall high level material and discussions.” - Investor Relations, PM & Partners SGR SpA

PROGRAMME

SPONSORS

GOLD SPONSOR:

BRONZE SPONSOR:

Coller Capital, the leading player in private equity ‘secondaries’, acquires positions in private equity funds from Limited Partners, and portfolios of unquoted companies from their corporate or institutional owners. Founded in 1990, Coller is headquartered in London, with offices in New York and Hong Kong. The firm’s multinational investment team – the largest dedicated to secondaries – has a truly global reach.In 2012, the firm closed its sixth fund, Coller International Partners VI, with capital commitments of $5.5 billion and backing from almost 200 leading institutional investors.collercapital.com

PwC helps organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with more than 180,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.comPwC Italy has offices in 21 cities and is able to draw upon the capabilities and expertise of more than 3,100 people, including 135 partners.PwC refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.pwc.com

“Good networking event for the Italian market, interesting panels and speakers.” - Investment Manager, Greenpark Capital

SPONSORS OPPORTUNITES

GET IN TOUCH

Put your brand in everyone’s hand

Generate leads from potential

clients

A Range Of Sponsorship Packages

Speaking/Thought Leadership

Unquote” Italia Private Equity Forum 2015 attracts over 80 Italian private equity market makers.

The only way to present to an audience of this calibre is through sponsorship.

For further information, visit the event website: www.italiapeforum.com

Our job is to help you deliver the best presentation possible and generate leads from every potential client at the forum. For more information on sponsorship opportunities, contact Tom Mackinnon on:

Tel: +44 (0)020 7316 9743Email: tom.mackinnon@incisivemedia.com

italiapeforum.com

REGISTER NOWW: ITALIAPEFORUM.COM E: STEPHANIE.O’SULLIVAN@INCISIVEMEDIA.COMF: FAX BOOKING FORM TO: +44 (0)20 7504 3730T: CALL STEPHANIE VIA +44 (0)207 316 9812

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Pension Fund ManagersIndustry AssociationsLegal ExpertsInstitutional InvestorsHeads of Alternative InvestmentDirectors of Asset ManagementPlacement AgentsCorporate Financiers

Portfolio ManagersFund of Fund ManagersInvestment ManagersSenior BankersAnalystsPartners

VENUE & ACCOMMODATIONFour Seasons HotelVia Gesù 6/820121 Milano Italy

Reservations:W: fourseasons.com/milan/accommodations T: +39 02 77088

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“Well organised, good mix of topics and panellists and good update on outlook and trends of the industry.” - Managing Partner, Syntegra Partner

*For the purposes of this conference we define qualifying Limited Partners as pension funds, insurance companies, family offices, endowment funds, foundations and sovereign wealth funds. The person representing the limited partner must be a direct employee of the limited partner and must not work in a sales or marketing.

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EARLY BIRD DISCOUNT 1 EXPIRES 2 OCTOBER 2015 €1,399 + VAT €500

MEMBERS OF SUPPORTING ASSOCIATION/SUBSCRIBER €1,499 €400

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ALUMNI RATE €999 €900

*All discounts are calculated on the full price of the event and must be qualified by Incisive Media. Discounts cannot be combined ** For the purposes of this conference we define qualifying Limited Partners as pension funds, insurance companies, family offices, endowment funds, foundations and sovereign wealth funds. The person representing the limited partner must be a direct employee of the limited partner and must not work in a sales or marketing. Please note VAT is applied at the local rate of 22%. Payment must be received before the event start date.

Disclaimer: We accept bookings on the understanding that if we cannot meet our obligations because of circumstances beyond our control, we will not be held liable for loss suffered by you or a third party. This includes (without limitation) a change in the programme or an alteration to the venue and/or speakers. Venue Rules: You must comply with all rules, regulations, and other reasonable instructions of the owner of the venue at which the event is taking place. Photography: Photography and/or recording (whether visual or aural) of the proceedings of the event without our prior written consent are strictly prohibited. Personal Effects: We are not responsible otherwise liable to you for loss or damage to your personal property while you are in attendance at the venue at which the event is taking place. Liability: Except in relation to personal injury/death arising from our negligence or fraud, we shall not be liable to you for any sum greater than the amount you are liable to pay to attend the event. Cancellation/Substitution: Cancellations must be received in writing more than three weeks before the event. If a cancellation is received within three weeks of the event the delegate fee will be payable in full. Cancellations more than three weeks before the event are subject to a 10% administration fee. A substitute delegate is always welcome, but the organiser MUST be notified in advance of the event to avoid incurring a charge. Delegate substitutions may NOT be made at the event. If you do not attend the event or notify us of your intention to cancel, the full fee will still be payable. Payment: Payment must be received before the event start date. If we have not received payment in full by the event start date, you will be required to provide a credit card guarantee on the day to gain entry. Data Protection: By registering for unquote” Italia Private Equity Forum, Incisive Financial Publishing Limited will send you further information relating to this event. In addition we will send you information about our other relevant products and services which we believe will be of interest to you. If you do not wish to receive other relevant information from Incisive Financial Publishing Limited via a particular medium, please tick the following relevant boxes: Mail ; Tel ; Email Incisive Financial Publishing Limited will also allow carefully selected third parties to contact you about their products and services. If you do not wish to receive information from third parties via any of the following media please check the relevant boxes: Mail ; Tel ; Email

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