This ILPA Institute Level II Module 3 is highly interactive, case-based course designed to provide participants with advanced study of the practical techniques of implementing a portfolio construction framework. Topics include an overview of leading quantitative and qualitative diligence techniques, performance benchmarks, and valuation methodologies for investment monitoring purposes. In addition, a co-investment and secondary transaction will be considered. The program will include discussions, lecture, practical case work and exercises, and participants will be equipped with select usable tools and takeaways.
Course Dates and Fees
January 16-17, 2019 (San Francisco, CA)
Member early bird rate: $1,499
Member regular rate: $1,999
Non-Member rate: $3,499
Module 3 of the ILPA Institute Level II will provide participants with an opportunity to discuss and examine the detailed roles and responsibilities of a limited partner practitioner while participating in a more rigorous application of particular methodologies and processes. Specifically, attendees are expected to gain hands-on practical training in return attribution deconstruction, reference checks, benchmarking, and active ongoing portfolio management.
Key Learning Objectives
- Develop a due diligence framework based on ratio analysis to expose trends and aid in the development of specific fact-based due diligence questions.
- Deconstruct a manager’s historic performance into components, including operational (revenue and margin growth) and financial (multiple expansion and leverage).
- Apply different reference call strategies and discuss some practical tips and tricks.
- Benchmark manager returns against industry standard benchmarks and discuss the limitations and trade-offs of different benchmarks.
- Develop a manager monitoring plan based on the key issues that arise in manager due diligence.
- Review the tools of active portfolio management, including secondaries and co-investments.
PROGRAM LEVEL: Advanced
WHO SHOULD ATTEND: Experienced investment professionals working at many different organization types can benefit from the Level II program. Past participants have included representatives from public and corporate pension funds, family offices, foundations, endowments, insurance companies and government organizations who are investing or considering investing in private equity.
PRE-REQUISITE: Three or more years of experience directly managing and monitoring a private equity program. Applicants with less than 3 years of experience are required to have completed the ILPA Institute Level I program and submit a letter of endorsement on company letterhead (sample letter available here). The letter of endorsement will establish that the applicant exhibits managerial and leadership potential. They must also demonstrate a level of professional poise and financial acumen necessary to contribute to a senior learning environment. Candidates will be accepted based on availability and subject to ILPA review.
PRE-READING: Reading materials will be sent to participants prior to the start of the session. These will include 4-6 hours of required case preparation, reference calls, group work and 1-2 hours of suggested readings.
DELIVERY METHOD: Group-Live
CREDIT: Earn 14 CPE Credits
Institutional Limited Partners Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org