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February Newsletter
16/02/2011
Dear AVCAL Colleague,

I'd like to start by acknowledging the support that we receive from our AVCAL Partners. They are listed on the right hand side of all of our newsletters and throughout the year at our different events. The support that we receive from them is critical to continue our advocacy and research efforts towards improving the environment for private equity and venture capital investing in Australia. We very much appreciate it, thanks.

If you're interested in joining our Partners' Program, we'd be glad to hear from you. You can contact our team at members@avcal.com.au or contact us +61 2 8243 7000. Shana or Deborah will be happy to discuss with you.

Advocacy

The Board of Taxation review of collective investment vehicles including the VCLP is underway. AVCAL has taken part in a couple of public consultations and will be putting forward a submission (due Feb 28th). If you have a VCLP and wish to make your own submission we can help you with some of the key messages we'd like reinforced. Please contact me.


Professional development and training

A reminder that our flagship, members-only training program, PE Boot Camp, is filling up fast, so make sure that you register early for this program on 17 March 2011. The speakers will cover topics including a current industry landscape, negotiating the deal, and adding value throughout the life of the transaction. We will also examine the ESG issues that may arise. The day concludes with a networking dinner in the evening that features Peter Wiggs from Archer Capital as a speaker. This is open to all so please come along even if you've not been involved with the Boot Camp. Register now.

Our very popular PE101 program continues to be sold out every time we organise a new session. If you have several people for whom this would be useful, it might be more suitable to organise an in-house presentation of the program. Contact Members Services to discuss this if you are interested.

Planning for the AVCAL 2011 Conference is well underway. This is a member-only event. If you aren't a member, but would like to examine the benefits of membership, including the opportunity to attend the annual conference, check out this link.

Here are the critical dates for AVCAL 2011 for you to diarise.

17 May 2011, 9am preferential registrations open for AVCAL Partners
31 May 2011, 9am registrations open for all other AVCAL members
Conference is on the Gold Coast, QLD on 21-22 September
Golf Day is the day prior on 20 September

We've confirmed some great speakers already:

Claudia Ziesberger
Claudia Zeisberger is an INSEAD Affiliate Professor of Decision Sciences and Program Director of the Center for Decision Making and Risk Analysis (CDMRA), one of INSEAD's centers of excellence.
She initiated the launch of the school's Global Private Equity Initiative (GPEI) to focus INSEAD's existing achievements in this area, increase its visibility and cater to specific industry needs in research and education. Claudia is a Founding Adviser of the editorial board of The International Review of Private Equity.

Bill Evans
Bill is Westpac's Global Economist and reprises his annual global economic update. Bill is our most popular speaker and our members enjoy his annual benchmark of his predictions from the previous year.

Ali Moore
Ali is one of the ABC's most respected journalists, and she joins us for the third year to be our Master of Ceremonies and will facilitate and provoke our panel members over the two days of sessions.

Kind Regards


Katherine
Chief Executive
Latest Policy and Research News

Article by AVCAL Chairman Andrew Rothery in the AFR
This article written by AVCAL Chairman Andrew Rothery and published in the Australian Financial Review, compares the experiences of CEOs who have worked for both private equity-backed companies and public companies.

Interview of AVCAL Chairman Andrew Rothery by Morningstar
In this interview by Morningstar, AVCAL Chairman Andrew Rothery talks about the Australian private equity sector, private equity-backed IPOs and industry related tax issues.

Private equity rewards pensions
The private equity holdings of the world's largest public-sector pension funds outperformed most other asset classes in the short and long term, new research suggests.

Coller Institute: Private Equity Findings (Winter 2010)
Read the latest edition of the Coller Institute's "Private Equity Findings" which synthesises leading academic research in PE. This issue looks at:

How buyout and VC funds will emerge from the crisis
How well-managed are PE-owned firms?
Alignment of incentives for GPs and LPs

Coller Capital - Global Private Equity Barometer (Winter 2010-11)
Read the latest Global Private Equity Barometer report by Coller Capital.

Case study - BTF Pty Ltd - An Intercontinental VC Transaction
Read this case study on a venture capital-backed company, BTF Pty Ltd. The report illustrates the investment and operational role of the venture capital firm when managing a start-up biotech company.

Catalyst acquires 100% of AC Components
Catalyst Investment Managers, on 8 February 2011, announced the acquisition of 100% of AC Components - a Victorian market leader in the wholesaling and distribution of residential air conditioning systems.

ABS - Venture Capital and Later Stage Private Equity, Australia, 2009-10
The Australian Bureau of Statistics (ABS) has released the venture capital and later stage private equity report for FY10. The report is a result of a survey conducted by the ABS with the financial support of the Department of Innovation, Industry, Science and Research.

Preqin Special Offer for AVCAL Members
Preqin is offering AVCAL members the chance to subscribe to their services at a discounted rate. First-time subscribers will receive a USD 250 discount on any product or publication worth USD 1000 or more.

Send us your news!
With deal and fundraising activity picking up, we're keen to ensure our readers can stay up to date with the latest developments on this front. If you are a GP, do send us your news releases on your latest activities, or success stories, and we will be happy to post them up on our website and in future newsletters.

AVCAL Professional Development for 2011

We have a busy program scheduled already for the first half of the year and places on some programs are filling fast!

VC 101
Proudly Partnered by Norton Gledhill
Melbourne, 18 February 2011. SOLD OUT

PE Bootcamp
Proudly Partnered by Norton Rose Australia
Sydney, 17 March 2011. Register now

PE101
Proudly Partnered by Corrs Chambers Westgarth
Sydney - 25 March 2011. SOLD OUT
Melbourne - 6 May 2011. Register now

**NEW** PE101
Sydney - 17 June 2011.
Register now

AVCAL Networking for 2011

United Malt Holding Case studies
Proudly Partnered by Mallesons Stephen Jaques
Melbourne - 9 March 2011. Register now
Sydney - 9 June 2011. Register now
Brisbane - 11 August 2011. Register now

AVCAL Corporate Golf Day
Proudly Partnered by Octet Finance
Concord Golf Course, 10 March 2011. Register now

NSW Networking Dinner with Peter Wiggs
Proudly Partnered by Norton Rose Australia
17th March 2011. Register now

Peplin Case Study Series
Proudly Partnered by Corrs Chambers Westgarth
Sydney - 23 February 2011. Register now
Brisbane - 8 April 2011. Register now
Melbourne - 22 July 2011. Register now

Mark your diary
AVCAL Conference 2011, Gold Coast
Golf 20 September
Conference 21-22 September.
More information here
Other Events

AIRG National Meeting - 27 February to 1 March 2011
The Australasian Industrial Research Group's (AIRG) 2011 National Meeting will be on the topic "Managing Mission-Critical R&D and Technology". AVCAL Member receive AIRG member discount. Register now
AVCJ - Australia & New Zealand Forum - 2 March to 4 March 2011. AVCAL Members receive a 10% discount to register. Register now.
MIVCC - Melbourne Venture Capital Conference - 8 March 2011. AVCAL Members receive a 10% discount to register. Register now
Funding Connect 2011
- Sydney, 10 March 2011.
- Melbourne, 29 March 2011.
Funding Connect provides attendees with a variety of options for their funding and investment needs in today's climate - from cash-strapping to funding through clients, from angel investors to strategic and VC funding. Register now



AVCAL 2011 PARTNERS

Castle Harlan

Advent

Gallagher

NAVIS

AON

KKR

Ironbridge

CATALYST

Archer Capital

Commonwealth Bank of Australia

BOS International

Champ Private Equity

Quadrant

INVESTEC

KPMG

Intralinks

Riverside Company

Pacific Road Capital Management

Propel Investments

Credit Suisse

Pacific Equity Partners

LEK

Norton Rose

NBC Capital

Disclaimer:

AVCAL is the professionally managed industry body that promotes the Australian private equity & venture capital industry.

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