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23/11/2010
Dear AVCAL Colleague,

For those of you who couldn't get along to our AGM last week, we gave a summary of the stakeholder engagement that AVCAL have been involved with in 2010.

I thought it may be useful to provide this summary on this newsletter so you also have a sense of the breadth and reach of AVCAL.

Policy Submissions
6 submissions: on MITs, R&D Tax Credit and Employee share schemes

Research publications
5 publications, 5000 downloads

Policy meetings - govt & regulators
Meetings with PM, Ministers Carr (several), Shorten, Crean, Sherry (several), Bowen, ASIC. Opposition: Abbott, Mirabella, Hockey, Fletcher

One on one member meetings
100+

Media briefings
4

Media releases
5

Research prizes awarded
3

Council meetings
4 + 30 Working group meetings

Policy briefing sessions
3 (free to members)

Professional development
7 (4 new programs)

Networking events
16

Executive forums
3

Industry connections (domestic)
AVCJ, PEI Media, Financial Services Industry Partnership (ATO + associations like ourselves), Financial Services Council, AFMA, Austrade, Australian Bureau of Statistics, Responsible Investment Association Australia, FINSIA, Association of Superannuation Funds Australia, Australian Council of Superannuation Investors, The Taxation Institute.

Industry Meetings (international)
Private Equity Council (US), Global VC Congress (international VC associations inc US, Brazil, Israel, UK, Europe, Africa, Latin America, Emerging Markets, Canada, India), HK VCA, NZVCA, Global RI Working Party

Newsletters
12

Event Calendars
10

We're also really pleased to announce our new networking and professional development program for 2011. The details are listed later in this newsletter for you to look at and register if you'd like. Remember, it's your last chance to register for our Melbourne member get-together on 9 December.

Kind Regards


Katherine
Chief Executive

ACIP Review: Call for Submissions
The Advisory Council on Intellectual Property (ACIP) is an independent body appointed by the government, and advises the Federal Minister for Innovation, Industry, Science and Research on intellectual property matters and the strategic administration of IP Australia. The Council was established in 1994.

ACIP is currently conducting a review: Collaborations between the Public and Private Sectors: The Role of Intellectual Property and is calling for submissions from private sector stakeholders. The submissions are in the form of an online questionnaire. Submissions close on 17 December 2010. ACIP is currently seeking submissions from private sector stakeholders only. In 2011, submissions from the publicly funded research organisations will be sought.

As part of the consultation process ACIP will also undertake roundtables with both private sector stakeholders and representatives of PFROs. The roundtables will be held in selected capital cities starting from December 2010. To register your interest in participating in one of the roundtables, please send an email

Special AVCAL member offer
Factiva: The Intelligence Engine
5% off Factiva subscriptions
More details

Latest Policy and Research News

AVCAL Research Prizes: final call for submissions
Submissions are invited from academia and industry participants for the 2010 AVCAL Research Prizes for best PE and VC papers. Entries close at 5pm (EST) on Friday 10 Dec 2010 and will be judged by a panel selected by AVCAL.

R&D tax credit passes the House of Representatives
The research and development tax credit was passed by the House of Representatives on 22 November 2010. The R&D tax credit will be a move away from the old R&D tax concession model and it aims to deliver $1.6 billion annually for business R&D. The R&D tax credit will be directed at encouraging local R&D in small, medium, and large businesses, helping them better compete in the global economy.

The latest licensees announced for the Innovation Investment Fund
The Minister for Innovation, Industry, Science and Research, Senator Kim Carr, announced on 5 November, 2010 that $80m will be made available to four venture capital funds through the Government-sponsored Innovation Investment Fund (IIF).

AIFM Directive gets final vote of approval
The European AIFM Directive was approved by the EU Parliament on 11 November, 2010, after being under development for over 18 months. The directive is expected to be fully implemented by early 2013.

Discussion paper on new MIT tax system released
The Assistant Treasurer and Minister for Superannuation and Financial Services, Bill Shorten, released a discussion paper on 18 October 2010, on the design and implementation details of the Government's new income tax system for managed investment trusts (MITs).

The Volcker Rule and what it means for bank investment in PE
This article by J. Bradley Boericke at Pepper Hamilton LLP evaluates and lists the impacts of the Volcker Rule on US bank investment in private equity funds.

Helmsman Capital supports acquisition of API Services and Solutions by QRSciences
Helmsman Capital investee company QRSciences Holdings Ltd completed the acquisition of the API Services and Solutions business from the wider API Security group on 30 September 2010. API Services and Solutions is one of Australia's leading security businesses providing locksmith services, including the design and installation of masterkey services and the servicing and keying of lock systems.

Australia's fastest growing baby food company MBO led by Anacacia Capital
Rafferty's Garden has hired new Managing Director Michael Tinkler following the management buyout of Rafferty's Garden last month, led by Anacacia Capital.

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 Networking & Professional Development

VIC End of Year Drinks, Tax Briefing & AIFM Directive update
Maddocks, 9 December 2010. Register now - Last chance

SA PE/VC 101, 11 February 2011. Register now

United Malt Holding Case studies
Brisbane - 10 February 2011. Register now
Melbourne - 17 February 2011. Register now
Sydney - 9 June 2011. Register now

VC 101, Melbourne, 18 February 2011. Register now

PE Bootcamp, Sydney, 17 March 2011. Mark your diary. Express your interest

AVCAL Corporate Golf Day - Concord Golf Course, 10 March 2010. Register now

PE101, Sydney, 25 March 2011. Register now

Peplin Case Study Series
Sydney - 25 February 2011. Register now
Brisbane - 8 April 2011. Register now
Melbourne - 22 July 2011. Register now
Other Events

Family Office Congress, 1-2 December 2010, Melbourne
**Announcing their latest guest speaker, Sandy Urie, Global CEO of Cambridge Associates. The largest gathering of local and international single and multi-family offices in Australia. More Details/Register Now.




AVCAL Research Prizes: final call for submissions (10 Dec 2010)

RESEARCH PARTNER

Ernst & Young


AVCAL 2010 PARTNERS

BOS International

KPMG

Quadrant

Maddocks

TPG

KKR

Advent

INVESTEC

Ironbridge

AON

Next Capital

Champ Private Equity

Credit Suisse

Gallagher

Pacific Road Capital Management

Pacific Equity Partners

Westpac

Archer Capital

Castle Harlan

NAVIS

NBC Capital

CATALYST

Intralinks

Propel Investments

Coller Capital

ROTHSCHILD

LEK

Commonwealth Bank of Australia


DATA VENDOR

Capital IQ

Disclaimer:

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

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