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Module 5: GP Value Creation

The ILPA Institute Level II Module 5 focuses exclusively on the assessment of the general partner’s ability to create value with their portfolio companies. The format includes moderator-led discussions, a series of deal case studies, group discussions and presentations delivered by select general partners, operating partners and CEOs of private equity-backed companies. Through the presentations and discussions, participants will learn about current strategies, tools and processes that general partners employ to create and measure value creation from sourcing, execution through to exit. The Module will cover a variety of strategies that may include buyout (mid-market and large buyout), growth equity, venture capital and special situation with GP representation from around the world. The group will discuss the merits, challenges and diligence/assessment of various value creation tools and techniques in a real-world practical context with a goal of honing their skills to distill how managers add the most value to their portfolio companies.

Course Dates and Fees
July 18-19, 2019 (Chicago, US) 

This Module 5: GP Value Creation course is sold out. To add yourself to the waitlist please click the registration tab to proceed or email [email protected] directly.

Course Overview

This module will expose participants to value creation methodologies using a company lifecycle approach. The moderator-led discussions along with speakers from a leading mid-market buyout firm will present real- life case examples of value creation strategies utilized at various stages of a company’s lifecycle: 1) pre-acquisition 2) post-acquisition 3) pre-exit and 4) post-exit. One company will be featured, illustrating the value creation strategies at each stage of its lifecycle. Other case examples will also be introduced to demonstrate different strategies (cash flow generation/debt pay down, earnings growth and multiple arbitrage) used for each stage. In addition, select case study deals will be used to discuss and explore value creation methods of a select group of private equity managers from different sectors that may include mega buyout, growth equity, venture and distressed strategies and general partner resources and skills sets. This module will also include the unique perspective of operating partners and CEOs that will provide a practical approach to discussing and challenging the merits of various value creation tools and techniques. Last, new models will be introduced that provide a value creation bridge with specific measurement of key actions taken by the company during the PE ownership phase.

Key Learning Outcomes

After completing this course participants should be able to:

  • Identify meaningful value creation drivers that could be employed by general partners related to buyout, growth equity, venture capital and special situation strategies.
  • Determine if a manager possesses the required resources and skill sets to execute value creation strategies of the general partner. Uncover if/how a general partner may be executing (i) cash flow generation/debt pay down, (ii) earnings growth and (iii) multiple arbitrage value creation strategies.
  • Supported by new value creation measurement tools, evaluate at a detailed level any given manager’s ability to add value through operational engagement, financial engagement or strategic guidance.
  • Craft meaningful diligence questions aimed at assessing value creation from deal sourcing to exit.
  • 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 and other materials will be sent to participants prior to the start of the session. These will include 2-3 hours of course preparation and required reading as well as suggested readings.

    DELIVERY METHOD: Group-Live

    CREDIT: Earn 14.5 CPE Credits

    CPE Sponsors logo

    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

Details

Start:
July 18, 2019 - July 19, 2019
Event Categories:
ILPA Institute, North America

Organizer

Name:
ILPA

Venue

Gleacher Center
450 N Cityfront Plaza Dr, Chicago, IL 60611 United States
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Phone:
+1 312-464-8787

Gleacher Center, 450 North Cityfront Plaza Drive, Chicago, IL, 60611

Classes will be held at the Gleacher Center, located at 450 North Cityfront Plaza Drive, along the Chicago River (one block east of Michigan Avenue). The Center is in the heart of “The Magnificent Mile” in downtown Chicago, and within walking distance of some of the city’s most exciting retail and entertainment areas.

Joncarlo Mark

Founder, Upwelling Capital Group

Joncarlo R. Mark is founder of Upwelling Capital Group, an advisory and investment management business that provides services and solutions to institutional alternative investors.  Prior to forming Upwelling Capital Group, Joncarlo was a Senior Portfolio Manager in the Alternative Investment Management (AIM) Program at the California Public Employees Retirement System (CalPERS).  CalPERS is the largest public pension fund in the US, with approximately $230 billion in overall assets.

Joncarlo was a part of the senior leadership team responsible for investing in global private equity partnerships and direct investments, with a portfolio that exceeds $48 billion of invested and committed capital. Over the last twelve years, Joncarlo represented CalPERS on multiple fund advisory boards and held Board of Director observer seats for a number of AIM portfolio companies. In addition, Joncarlo served as Chairman of the Board for the Institutional Limited Partners Association (ILPA) from 2007 to 2010, whose 240 member institutions manage more than $1 trillion of private equity capital.

Joncarlo is currently an Advisory Board member for the Brookings Institution Private Capital Research Project, which is the group that previously guided the World Economic Forum’s “Study of the Economic Impact of Private Equity”.  He also serves on the Advisory Board for The Child Family Institute for Innovation and Entrepreneurship at the University of California, Davis.  Prior to joining CalPERS in 1999, Joncarlo spent six years with Premier Farnell PLC, a global industrial products manufacturing and distribution company.  Joncarlo earned an MBA from the Graduate School of Management at the University of California, Davis and received a BA from the University of California, San Diego.

InterContinental Chicago, 505 North Michigan Avenue, Chicago, IL, 60611

The ILPA has reserved a block of rooms at a special group rate of $199 + Tax per night at the InterContinental Hotel. To book, please click this link: https://goo.gl/1mZs2d or call the hotel directly at 1-800-628-2112 (312-944-4100) and use group code: DR6.

Rooms are limited and available on a first-come, first-serve basis.

 Anja Bach Eriksson, Senior Portfolio Manager, Sampension
Anja Bach Eriksson, Senior Portfolio Manager, Sampension
“The ILPA Institute was worthwhile in two ways. First, I was able to broaden my knowledge and get new inspiration in a variety of areas that enable one to do a better job. All of the sessions had some key takeaways that were new or put things in a different light. The faculty was also very impressive. Second, the networking was very enjoyable. As a new European member, it turned out to be a great opportunity to meet colleagues from around the world.”
(Chicago 2009 ILPA Institute Level I participant)
 Josephine E. Enriquez, Investment Officer, Los Angeles City Employees’ Retirement System
Josephine E. Enriquez, Investment Officer, Los Angeles City Employees’ Retirement System
“The ILPA Institute was great. I found it informative and the interaction with fellow attendees was very good. The venue itself was also outstanding and the faculty is first-class. Overall, the event was well-organized and the materials were excellent. If you have a chance to attend this program, you should.”
(Chicago 2009 ILPA Institute Level I participant)
 Anthony Albuquerque, Fund Administrator, Glenmede Trust
Anthony Albuquerque, Fund Administrator, Glenmede Trust
“This was an excellent program that presented a wealth of information on a variety of topics. Not only was I able to get something out of every session, but I can also readily apply the information I learned to my day-to-day activities. For anyone involved as a limited partner in the private equity industry, this course is well worth your time.”
Anthony Albuquerque, Fund Administrator, Glenmede Trust
Anselm Adams, Director, PECA Ltd.
Anselm Adams, Director, PECA Ltd.
“The course was very comprehensive and covered a lot of information. The faculty did a great job providing both an academic and practical perspective. The case study format was effective in applying the knowledge we learned and the case studies on Yale and CPPIB were especially relevant.”
(London 2010 ILPA Institute Level I participant)
Kevin Fahey, Director-Investments, CAAT Pension Plan, Public Pension
Kevin Fahey, Director-Investments, CAAT Pension Plan, Public Pension
“The Excel examples of valuation and monitoring provided me with a great set of takeaways. I also really appreciated the level of engagement between the speakers and the participants, and the use of real world examples.”
(Chicago 2011 ILPA Institute Level I participant)
 Helena Kent, Investment Analyst, Hasma Capital
Helena Kent, Investment Analyst, Hasma Capital
“The level I curriculum was very relevant to my role. In particular it supplemented underlying theory with real world examples from industry practitioners. It covered all elements of the PE process and was a great opportunity to talk through current issues with other LPs.”
(London 2011 ILPA Institute Level I participant)
 Susan Buchroeder, Private Equity Analyst, New Mexico State Investment Office
Susan Buchroeder, Private Equity Analyst, New Mexico State Investment Office
“From my experience in Chicago, the ILPA Institute Level I course provided value in three distinctive forms; great practical worth, continuing education credits, and excellent networking opportunities. The course detailed an effective introduction into the asset class and demonstration of performance evaluation for private equity investments. I enjoyed the level of interaction encouraged by the speakers; they kept our minds engaged throughout the course. Furthermore it was an excellent facility and the course agenda gave the group opportunities to network and get to know each other outside of the classroom.”
(Chicago 2012 ILPA Institute Level I participant)
 Anthony M. Tanner, Investment Professional, Nationwide
Anthony M. Tanner, Investment Professional, Nationwide
“I truly enjoyed the event and would highly recommend it to others seeking to further their knowledge of private equity. The course information was relevant, timely, and presented in an engaging and participatory manner. My colleagues and I look forward to participating in future events of this nature.”
(Chicago 2012 ILPA Institute Level I participant)