PRIVATEEQUITY

& VENTURECAPITAL

A practitioner’s guide to state-of-the-artstrategies and techniques

London Dates: 8-9 December 2016 & 22-23 June 2017

COURSE LEADER: Professor Dr Roger W. Mills

Attend this incisive and highly practical two-day courseand learn: � The core principles and major applications of Private Equity (PE)� Valuation techniques that can be applied in PE� IPEV guidelines in valuing PE opportunities� How PE funds are structured� How to originate transactions � The essential features of leveraged buyouts and how are they

structured� The critical importance of due diligence in private equity deals

and how to structure/manage the process

www.iff-training.comTel: +44 (0)20 7017 7190 / Email: cs@iff-training.com

We can deliver this course in-house:Your company, your location, your needs

Contact Jeff Hearn: +44 (0)207 017 7190jhearn@iirltd.co.uk

PRIVATE EQUITY & VENTURE CAPITAL

Course Leader: Professor Dr Roger W. Mills Professor Dr Roger W. MillsPhD, MSc, BTech (Hons), Cert Ed, MColl, FCMA, FCIS, FCT

Roger Mills is Emeritus Professor of Finance and Accounting at Henley Business School, University of Readingand he has a unique blend of academic and business experience. He has a PhD in Finance, a Masters in Management Studies (MBA) and a first degree in Psychology, Sociologyand Economics. During the professional part of his career he qualified as a Chartered Management Accountant,Company Secretary and Corporate Treasurer. He is a Fellow of the Chartered Institute of ManagementAccountants, the Institute of Chartered Secretaries and Administrators and the Association of CorporateTreasurers. Currently, he is the CEO of his own group of companies and an advisor to a number of

organisations at board level, including a Middle East bank. He has consulted to numerous companies and organisations in manycountries around the World. He has worked extensively with banks and financial institutions, primarily in France, UK and Scandinavia,in corporate and investment banking (including private equity). As a private equity investor Roger was a founding member of a group that secured a successful AIM listing on the London StockExchange for a dotcom company in the late 1990’s. This listed company went on to acquire a number of businesses to refocus itsactivities before being acquired by a private equity player.Roger has written numerous articles and both authored and co-authored many books, the most recent co-written with Dr Peter Clark,Masterminding the Deal (August 2013).

www.iff-training.comTel: +44 (0)20 7017 7190 / Email: cs@iff-training.com

Take advantage of the opportunities lost by othersIt is fair to say that we have never seen such a period of rapid and dramatic change in the fortunes of private equity. After the credit crunch,buyout activity stalled and falling markets caused many to question the underlying valuations propping up fund returns. At the same time,greatly lengthening holding periods and many disappointing returns cast a shadow over the future of venture capital.

Industry commentators have spoken of a massive shake-up in the industry, with anything up to 40% of firms going out of business. Will thesepredictions come true? Some say “yes”, others think that the industry may indeed undergo some dramatic changes, but will continue to operateas a major driver of potential out-performance in the portfolios of institutional investors. Training is vital in these uncertain times. This coursecan play a crucial role in making sure your company doesn’t become a mere statistic, enabling you to take advantage of the opportunities lostby others.

The need for a more disciplined approach in the future can only be met by a thorough understanding of all the theoretical and practical issuessurrounding private equity investment. Whether you are a fund investor, a GP, a lawyer, an accountant, a consultant or a fund administrator,this course represents the essential knowledge to arm you properly to succeed in the new environment.

This course has been carefully designed drawing from private equity expert Roger Mills’ experience. Featuring many practical examples, thistwo-day workshop consistently is the private equity course of choice for many organisations globally.

WHY CHOOSE IFF AS YOUR TRAINING PROVIDER?

• Track Record – we have over 20 years’ experience of providing training to the banking, finance and energy sectors• Relevance – training courses are designed for small delegate groups which ensures you maximise the time and contact with your course director• Innovation – our courses are continually reviewed so you can be sure they are focusing on the most current issues• Knowledge – all of our trainers are highly experienced and are world leading subject matter experts in the field they teach so you can be confident you are

learning from the very best• Small class sizes – to aid knowledge acquisition and increase your personal interaction with the trainer• Value – our philosophy has always been to provide a practical training experience with skills that can be used to gain a tangible return on your investment• Accreditation – we are accredited by the British Accreditation Council (BAC)

Many organisations have realised that IFF in-company courses offerso much more than conventional courses. Here’s why:• We focus on providing our clients with training solutions that arespecifically designed for them in order to help them address their keybusiness challenges

• IFF programmes are designed by practitioners for practitioners. Weequip our clients with the practical skills and knowledge they need tosucceed

• Our international faculty of trainers are some of the world’s leadingexperts in their chosen field. We only use the best minds in the business

• We’ve been supporting our clients for over 20 years; you can be surethat, as such, our track record makes us the lowest risk training partneryou could find

• By focusing on the business issues behind the training need, we canensure that the content and focus are targeted 100% on the needs ofthe business

• Quality is critical to our success. Our reputation has been built over 20years by delivering programmes of the highest standard. We will nevercompromise on our desire to ensure that our courses surpass theexpectations of our clients, not meet them.

IFF is the chosen in-company training provider for some of theworld’s leading financial institutions, so rest assured you’ll be ingood company. We’ll also meet with you anywhere around the globe. Only by understanding our clients’ business issues can we hope to addsubstantial value. That’s why we work with our clients face to face all overthe world. If you would like one of our consultants to meet with you to talkabout your needs in more detail or if you would simply like moreinformation as to how you’ll benefit from our in-company programmes,please contact Jeff Hearn (Managing Director) on +44 (0) 20 7017 7190or email: jhearn@iirltd.co.uk

IN-COMPANY TRAINING SOLUTIONSSAVE MONEY – IMPROVE PEFORMANCE – REDUCE RISK

If you have four or more people to train, our in-company courses can be delivered for you anywhere in the world and are the perfect solution for you.

Your comprehensive course agenda

Private Equity – The Context and ValueCreation • Introduction• History• What is private equity?• The pros and cons of being private• Credit crisis: impact and consequences on private equity• Private equity investment strategies• How are PE funds structured?• Transaction origination

Venture Capital • The venture capital industry and other sources of fundsfor financing new ventures (including angel investors,banks and other institutions)

• Venture fundraising and characteristics of venture capitalfirms:

– limited partnerships – corporate venture capital • Characteristics of entrepreneurial ventures at differentstages of development:

– seed – start-up – expansion – mezzanine – buyout – turnaround – privately owned firms – newly listed firms • The structure of financial contracts: – staging, syndication – Forms of finance: ~ debt ~ convertible debt ~ preferred equity ~ convertible preferred equity ~ common equity ~ warrants and combinations of these instruments – board representation – restrictive covenants and confidentiality agreements – legal and institutional barriers to efficient venture

capital financial contracting• Exiting investments • Venture capital and private equity investments in aninternational context

Private Equity Valuation and Buy-OutStructures• The private equity approach to valuation: – comparison of public equity and private equity

valuation – importance of the exit driven perspective – relation between active private equity management

and valuation – guidelines on private equity valuations - International

Private Equity and Venture Capital Valuation (IPEV)guidelines

• Value creation in private equity and how do private equityfirms create value?

– minimise purchase price – maximise leverage – minimise liabilities purchased – manage transaction costs – improve business operations – maximise tax efficiency – optimise exit• Leveraged buyouts (LBOs): – what is an LBO? – typical LBO structure – sources of financing – review of types of buyouts: ~ management buyouts ~ management buy-ins ~ leveraged buyouts – evaluating a buyout candidate – financing a buyout candidate – key practical issues

Evaluating a buyout

• Sources of funds: – equity – debt: ~ bank debt: >revolving credit facilities >term loans >bridge financing ~ high yield bond debt – mezzanine financing instruments• The valuation impact of different investment structures• Review

Private Equity & Venture Capital

www.iff-training.comTel: +44 (0)20 7017 7190 / Email: cs@iff-training.com

C

ASE STUDY

In-Company Training

The International Faculty of Finance hasbeen the world leader in specialist in-company training for over 20 years. Weexcel at designing and providingcustomised training solutions which meetyour organisational goals, objectives andbusiness challenges, whilst delivering anoutstanding return on investment.

Our international faculty of expert trainerswill create the perfect programme for yourneeds. Our in-company courses can alsosave you up to 40% compared to traditionalpublic courses, making big savings ontravel costs and reduced time away fromthe desk.

IFF delivers in-company training to clientsall over the world, at all levels within anorganisation across every sector of bankingand finance. This is what makes us sosuccessful in meeting the diverse needs ofour clients.

Not only does our reputation for quality makeus different from other training organisations,but we have a passion to ensure that ourcourses surpass the expectations of ourclients, not just meet them.

Rest assured - that when choosing IFF notonly are you making a safe decisionfinancially and professionally – we guaranteethe results you need to achieve from training.When it comes to improving the skills,knowledge and performance of your team,department or organisation – IFF in-companytraining is the ultimate solution.

Contact us to discuss further: +44 (0)20 7017 7193 | jhearn@iirltd.co.uk

www.iff-training.com • Tel: +44 (0)20 7017 7190 • Email: cs@iff-training.com4

Why choose IFF In-company Training?

� Cost Efficient � Customised Content � Convenient � Specially Selected Trainer � Free Pre-course Assessment � Consistent Quality � Post Course Evaluation � Dedicated Account Manager � Dedicated Logistics Manager � Tailored Course Materials � Interactive & Practical � Case Studies – Tailored to Specific

Regions & Sectors

Watch the video here: www.iff-training.com/INCVID

PRIVATE EQUITY& VENTURE CAPITAL

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www.iff-training.comTel: +44 (0)20 7017 7190 / Email: cs@iff-training.com

5ways to register...1 Tel: +44 (0)20 7017 71902 Fax: +44 (0)20 7017 78023 Email: cs@iff-training.com4 Web: www.iff-training.com5 Mail: Customer Service Manager

International Faculty of Finance KNect House30-32 Mortimer Street,London W1W 7RE

What happens if I have to cancel?The following charges will apply for written notice received: 30 +days before the course: 10%, 15–30 days before the course: 50%,1–15 days before the course: 100%In the unfortunate event that a course is cancelled, IFF Ltd are notliable for any costs incurred by participants in connection with thecourse.

TransfersThe following charges will apply for written notice received: 30 +days before the course: free of charge; 15–30 days before thecourse: 10%, 1–15 days before the course: 100%

Data Protection The personal information shown on this form, and/or provided by you,will be held on a database and may be shared with other companiesin the Informa Group in the UK and internationally. If you do not wishyour details to be available to other companies in the Informa Groupplease contact the Database Manager at the above address, Tel +44 (0)20 7017 7077, Fax +44 (0)20 7017 7828 or email: integrity@iirltd.co.uk.

Occasionally your details may be obtained from, or made available to,external companies who wish to communicate with you offers relatedto your business activities. If you do not wish to receive these offers,please tick the box. □

Incorrect Mailing If you are receiving multiple mailings or you would like us to changeany details or remove your name from our database, please contactthe Database Manager at the above address,Tel +44 (0)20 7017 7077, Fax +44 (0)20 7017 7828 or email:integrity@iirltd.co.uk – quoting the reference number printed on themailing label.

International Faculty of Finance, KNect House30-32 Mortimer Street,London W1W 7RE Paper sourced from

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Save money with in-house training

SAVE up to 40% and improve performance with our cost-effective tailored in-house courses

Contact Jeff Hearn for more details: +44 (0)20 7017 7190jhearn@iirltd.co.uk

IFF Training is accredited by the British AccreditationCouncil (BAC). The British Accreditation Council isrecognised internationally and provides the clearest markof educational quality and excellence. Accreditation byBAC is recognised by the UK Border Agency so the factthat IFF is BAC-accredited should help with your visaapplication.

If you would like us to contact you with a registration form via email,please tick which date you wish to register for, providing your contactdetails below in BLOCK CAPITALS. You can send this to us, using thecontact details above.

Course: 2 day IFF Private Equity & Venture CapitalVenue: Central London

□ 8-9 December 2016 (FLF3823)

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Administration Details:Cost: Including documentation, lunch & refreshments yourinvestment in this course is £2,199 plus VAT = £2,638.80The VAT is subject to change and may differ from the advertised rate. The amountyou are charged will be determined when your invoice is raised. (Our VAT numberis: 365 4626 36)

Register by Register after15 July 2016 15 July 2016

Course fee £1999.00 + VAT @ 20% £2199.00 + VAT @ 20%= £2398.80 = £2638.80SAVE £200

PLACES CANNOT BE GUARANTEED UNTIL FULL PAYMENT HASBEEN RECEIVED.Methods of Payment (Our VAT no is 365462636):By Bank Transfer, Cheque or Credit Card*if you would like to pay by credit card, please register via our secure paymentswebsite at www.iff-training.com, otherwise details of alternative ways to pay will beon the invoice you receive after registration. To ensure we provide the highest levelof security for your credit card details we are unable to accept such payments viaemail or fax which ensures that these details are never stored on our network.

□ 22-23 June 2017 (FLF3966)