EMPEA | LAVCA Private Equity Masterclass series are global workshops that provide an opportunity for fund managers and investors to gain practical insight from emerging markets private equity’s largest and most experienced EM PE practitioners.

EMPEA | LAVCA Private Equity Masterclass in Association with ColCapital in Colombia was supported by Debevoise & Plimpton and Brigard & Urrutia.  It took place on Wednesday, 4 March 2020 in Bogotá.  The Masterclass provided unique training on how to improve fundraising skills, avoid common GP pitfalls, learn legal strategies, as well as compelling approaches to presenting investment opportunities in the Colombian market to international and local investors. This training was targeted to managers with funds in the market, first-time fund managers, and new hires.

With a record attendance of 100+ LPs and GPs, a highly engaged audience, and lively discussion during sessions and networking breaks, this training provided a forum for learning and knowledge sharing.

Attendees included: ACON Investments, Adobe Capital, Advent International, ALLVP, AlphaMundi, Altra Inversiones, Aqua Capital, Ashmore Colombia, Bamboo Capital Partners, Bancoldex, CAF Asset Management Corp., Capital Group Private Markets, CCLA Group, Cometa, Credicorp Capital Colombia, CrossBoundary, Darby Private Equity, FCP 4G | Credicorp – Sura AM, HarbourVest Partners, IFC, Incofin Americas, Inframco, Kandeo Investment Advisors, LACERA, LarrainVial, L Catterton MAS Equity Partners, Mountain Nazca, Nexus Capital Partners, NXTP Ventures, OLCSLA, ONP, Pactia, Pantheon, Pantheon Ventures, Portland Private Equity, SEAF, Seguros Bolivar, Seguros Generales Suramericana, SFC, SURA Asset Management, SWEN Capital Partners, TC Latam Colombia, Terranum, Upwelling Capital Group.

The Masterclass series is core to EMPEA | LAVCA’s growing education and professional development platforms.

09:00 – 09:30 | Masterclass Registration

09:30 – 09:35 | Opening Remarks

Fuad Velasco, Managing Partner & CEO, Nexus Capital Partners
Ivonne Cuello, Executive Director, LAVCA

09:40 – 10:30 | GP-Only Track | Learning From Experience – How Successful Fund Managers Navigate the Current Fundraising Cycle

• How do Latin American fund managers differentiate and market their fund internationally?
• How can a manager make the most out of the in-person pitch? What can managers do to put their best foot forward in the diligence process?
• Disciplines of process selling vs. relationship selling
• What are common fundraising pitfalls and lessons learned the hard way?
• ESG considerations: Why it matters, what matters most, and how to navigate the guidelines and standards.

Faculty Firm & Presenters:

• Fabiana Andrade, Managing Director, Aqua Capital
• Alberto Hernandez, Managing Director, Acon Investments
• Hector Cateriano, Managing Partner, MAS Equity Partners
• Toni Vainio, Partner, Pantheon
• Moderator: Ivonne Cuello, CEO, LAVCA

09:40 – 10:30 | LP/Government-Only Track | Private Equity Portfolio Construction 2.0: Strategy

• How to outperform through developed and cutting edge strategies while effectively managing risk
• How to promote your organization, team, and process to become an investor of choice?
• What are the costs vs. benefits of becoming a thought leader and process leader among LPs?
• Middle market: Are the varying risks/returns attractive?
• How does cycle timing factor into the portfolio strategy?

Faculty Firm & Presenters:

• Joncarlo Mark, Founder, Upwelling Capital Group & Trustee for the University of California Davis Foundation
• Mike Dutton, Senior Advisor, Capital Group Private Markets

10:30 – 11:00 | Networking Break

11:00 – 12:30 | GP-Only Session | Legal Strategies: Protecting GP Interests and Maintaining Competitive and Marketable Positioning to LPs

• What are the key elements and stages of the documentation process and how does this process work?
• What are the latest trends in private equity terms and conditions?
• What are industry standard terms & conditions, and what areas should GPs focus on to craft ideal term sheets?
• How should GPs show alignment of interests while still shaping profitable agreements?
• Strategies for Partnership Negotiation

Faculty Firm & Presenters:

• David Grosgold, Partner, Debevoise & Plimpton
• Sally Bergmann, Senior Associate, Debevoise & Plimpton
• Luke Eldridge, Associate, Debevoise & Plimpton
• Carlos Fradique-Méndez, Partner, Brigard Urrutia
• Luis Gabriel Morcillo, Partner, Brigard Urrutia

11:00 – 12:30 | LP/Government Only | Private Equity Portfolio Construction 2.0: Implementation

• How to construct the optimal portfolio
• How should LPs view the importance of using the secondary market to obtain liquidity for funds? When and for what reasons?
• How is due diligence different for regional and local firms? What should be the key areas of focus?
• How to benchmark a regional, local firm vs. an international, middle-market firm?
• How important are unique cross-regional considerations such as currency risks?
• Establishing a framework for measuring value creation with each manager

Faculty Firm & Presenters:

• Joncarlo Mark, Founder, Upwelling Capital Group & Trustee for the University of California Davis Foundation
• Susana Garcia Robles, Executive Advisor, LAVCA
• Mike Dutton, Senior Advisor, Capital Group Private Markets

12:30 – 13:30 | Networking Lunch (Open to All)

13:30 – 14:40 | Business Due Diligence & the Implications for the Investment Decision (Open to LPs, Government, GPs, and SPs)

• How is the due diligence process different in Latin America and what are the particular issues demanding attention?
• Use the due diligence process to focus the attention of management and investors on strategic and operational areas of vulnerability and opportunity.
• How to develop a local and regional understanding of questions to ask as they relate to tax, labor, and legal affairs?

Faculty Firm & Presenters:

• Manuel Garcia Podesta, Managing Director, Advent International

14:40 – 15:40 | Mergers & Acquisitions (Open to LPs, Government, GPs, and SPs)

• How to structure PE deals in emerging markets (i.e. common structuring drivers, structuring tools, tax aspects, investment treaties, common holding company jurisdictions, typical structures)

Faculty Firm & Presenters:

• David Grosgold, Partner, Debevoise & Plimpton
• Jaime Robledo, Partner, Brigard Urrutia

15:40 – 16:00 | Networking Break

16:00 – 16:45 | LP Seminar – Sourcing and Securing LP Commitments (Open to LPs, Government, GPs, and SPs)

• Evaluating a first-time fund means largely assessing the team. What complementary skill sets are you looking for?
• How important is operational expertise within the GP to drive value in portfolio companies?
• What characteristics do you look for in the managers with whom you’ve maintained relationships with across multiple fund cycles?
• Adding New Managers: Best-in-class generalists or promising managers with specialist strategies?

Faculty Firm & Presenters:

• Susana García-Robles, Executive Advisor, LAVCA
• Kathleen Bacon, Senior Advisor, HarbourVest Partners
• Andrea Oñate, Private Equity Investment Officer, IFC
• Javier Diaz, President, Bancoldex
• Moderator: Paula Delgadillo, Executive Director, ColCapital

16:45 – 16:55 | The Perfect Pitch

*Advanced signup is required. Space is limited.
Learn how to craft the best pitch from our panel of judges as GP attendees present their two-minute “elevator pitch” and gain on-the-spot feedback.

16:55 – 17:00 | Closing Remarks

Susana Garcia Robles, Executive Advisor, LAVCA
Paula Delgadillo, Executive Director, ColCapital

17:00 – 18:00 | Networking Reception EMPEA|LAVCA & ColCapital Masterclass and Members-Only reception

Hosted with the generous support of Debevoise & Plimpton and Brigard Urrutia