| Dear AVCAL Colleague, |
A very unsettling
few weeks in the political arena has kept us thinking about levels
of influence on both sides of Government. Now that a Gillard-led
government has been formed, we will work with the new Assistant
Treasurer Bill Shorten, to pick up our discussions and resume
progress on the tax front.
I'm in the US at the moment,
attending an international meeting of PE and VC associations. This
is an important gathering where we will be discussing the globally
common issues facing our industry and learning from one another's
initiatives. I'll report on the outcomes in the next newsletter. I
have also scheduled meetings with several of our members' NY
offices, to update them on Australian Government Affairs.
look forward to seeing those of you who'll join us on the Gold Coast
next week. The event is at capacity and the program is very
exciting, with some changes to the format, based on feedback over a
number of years. I look forward to hearing your views. Don't forget
to check your confirmation for both conference and accommodation to
ensure that you've got everything in order to ensure a smooth
registration. BTW, you will also be able to:
| I also wanted to say to other members who won't
make it to the conference, that we are adding to our professional
development and networking program and will be delivering an
increased range of programs around the country very shortly. As
members of an industry, it is important to stay abreast of a wide
variety of issues, and be able to consider these with leading
The new PE101 program has been very
successful. We have run one in Sydney, one in Melbourne and we have
another Sydney event scheduled and sold out in October. We have also
facilitated this program in-house for ASIC and have interest to run
one in SA in 2011. Program coverage. If you are interested in
attending one of these, please express
your interest here.
We will be scheduling another PE
Boot Camp program in March 2011, which will focus on current issues
including restructuring. Let us know if you are interested
We're pleased to announce that we have a
South Australian networking event scheduled for 28 October,
partnered with Minter Ellison. Gerry Cawson and his team look
forward to seeing you there. You can register for this event now. The lunch speaker
will be Diarmid Lee, Principal, Leed Consulting.
program has been scheduled for Sydney on 22 October 2010,
Intellectual Property in the deal. Lead by Adam Liberman, this will
help PE funds consider the issues and will provide tips on how to
avoid high transaction costs on deals involving IP. Register now.
Our CFO Forum will continue
in 2011 with a new program focussed on reporting. Express
We hope to continue in 2011 with another
ESG Program, and will hopefully formulate a practical, step by step
guide on how you can develop an ESG policy. There was also interest
in having a forum between LPs and GPs as part of this program. Let
us know if you're interested
in attending this in 2011.
A reminder that nominations
are now open to members interested in serving on Council.
note - Nominations close at 5pm on Thursday, September 30, 2010. Consent and Nomination forms are now available
online. Be sure to read the Important Notes for Members before
completing any forms.
AVCAL members are also invited to
attend the annual general meeting on the 18th of November, directly
followed by our end of year drinks. Register Now.
Finally, I wanted to thank
our partners for their support throughout 2010. If you are
interested in talking to us about the benefits of a partnership with
AVCAL, please contact
Deborah Young to discuss.
Policy and Research News|
PEI Asia September Issue
equity picks up where it left off
Registration under Dodd-Frank Act: Implications for
non-US private fund managers
In this article, Robert G.
Bagnall of WilmerHale discusses US financial reform legislation
passed on July 21 which will require many private fund managers to
register with the SEC as investment advisers and comply with US
regulations. This requirement will also apply to Australian fund
managers if they have a sufficient number of US investors in their
funds and/or direct clients.
Private Equity: Emerging From the
Market conditions are now providing opportunities for
private equity managers and their investors in selective areas of
the market according to research produced by global professional
services company Towers Watson. This report suggests that portfolio
company operating performance is stabilising, pricing for new deals
is becoming more compelling from a buyer's perspective and financing
packages are increasingly available for the right
Korea Private Equity and Venture Capital
November 2-3, 2010, Grand Intercontinental Hotel in
Supported by the United Nations' Principles for
Responsible Investment - More details.
23rd Annual AVCJ Forum:|
Asia's Private Equity
Week, November 9-12, 2010, Hong Kong. Discount rate for AVCAL
AVCAL is the professionally
managed industry body that promotes the Australian private equity &
venture capital industry.
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