Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 Module 3 provides 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 OUTCOMES • 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. 23 DEVELOPED BY LIMITED PARTNERS FOR LIMITED PARTNERS CASE DISCUSSION: YOUNG HILL CAPITAL IV • Implementing Portfolio Construction Framework • Due Diligence Framework • Return Attribution • Reference Calls • Partnership Performance • Benchmarking • Post Investment Strategies • Secondary in the Young Hill Capital Fund III • Co-Investment Opportunity COURSE OVERVIEW COURSE OUTLINE