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January 16/1/2012
Dear AVCAL Colleague,

Happy New Year. I hope you had an enjoyable Christmas and New Year's break. 2012 has started with plenty of activity for our members and for AVCAL itself. High profile deals that have been mooted in the press are resulting in a focus on PE from several media outlets.

In addition, private equity is coming under increasing attack in the US as Mitt Romney's detractors (thus far from his own party) use his PE background as a source of ammunition. The level of inaccuracy, inconsistency and downright lies about the way PE carries out its business will have repercussions for Australian PE as well.

Detractors are likely to jump on the band wagon to advance their opinions, and an early example of that was published last Thursday. The Sydney Morning Herald and The Age ran an item that was riddled with inaccuracies. Past attempts to redress the balance with the SMH by offering a thoughtful letter in response have met with abuse and so this time we didn't bother. Instead we have published an open letter of rebuttal on our website.

A reminder that AVCAL is relocating its office just up the road to L10 27-31 Macquarie Place (Kyle House), Sydney. It now looks like the move will occur a little later than anticipated, sometime in mid to late February. We are also currently in the middle of changing our system software, member database and web platform to an integrated service. We expect to switch over at the end of this week and will write to you separately asking you to login to the new site and check that your details are accurate and current.

We are looking forward to a busy and productive year delivering services, training and events for all of our members.

Kind Regards


Katherine Woodthorpe
Chief Executive
Research News

AVCAL/Pacific Strategy Partners Deal Metrics Survey 2011
This third survey covers deals executed from 2006-11, and tracks trends in the key metrics used to measure PE and VC activity over this period.
More

Partners Group research: Understanding PE outperformance in difficult times
The report finds that PE offers an attractive risk profile in a challenging macroeconomic environment, and is a particularly attractive asset class in times of high economic uncertainty.
More

Coller Institute: PE findings (winter 2011)
Read the latest edition of the Coller Institute's "Private Equity Findings" which synthesises leading academic research in PE, and looks at topics such as PE-backed IPO performance, soverign wealth funds and public to privates.
More

Events for 2012

We have published on our website a 2012 calendar of key dates. Registration for events will be open after we switch over to our new IT system at the end of this week. Our professional development program (PD) now has three levels of training, categorised as Introductory, Focus and Masterclass. Expressions of Interest are available for the below events in the meantime.

View 2012 calendar of key events and dates
View details about our new Master course Doing the Deal

The following events are not open for registration but we are taking expressions of interest:

PE 101
Tuesday 14 February
Intro - PD
Sydney
Register interest

Warranties and Indemnities Insurance
Friday 29 February
Focus - PD
Sydney
Register interest

PE 101
Thursday 22 March
Intro - PD
Melbourne
Register interest
Industry News

Follow AVCAL on Twitter and LinkedIn. We regularly post items of interest to these site (simultaneously) to provide our members with additional outlets to easily access relevant news and information nationally and internationally.
Send us your news!

If you are a GP, send us news on your latest activities and achievements.

Media Watch

AVCAL has given interviews and background to various media outlets focussing on a number of private equity deals currently in play. This includes The Australian, Australian Financial Review and ABC Radio.
More

A podcast has just been published following a recent roundtable interview involving AVCAL and a number of VC participants and their portfolio company representatives with The Age journalists Leon Gettler and Garry Barker .
More

US-based private equity digitial news service Privcap recently interviewed AVCAL CEO Katherine Woodthorpe about industry trends in Australia. The interview is featured in a podcast and as a transcipt.
More

AVCAL and CHAMP feature in a Smart Company story.
More

"Australian private equity body sees healthy 2012" - Sky News headline.
More
Other Events and Member Offers

9th Annual AVCJ Australia & New Zealand Forum 2012
From 7-9 March 2012 at Sydney's Westin Hotel, the AVCJ A/NZ conference will offer attendees a comprehensive view of the challenges and opportunities that currently and a platform to form relationships with key industry professionals and investors.

Inaugural AVCJ Indonesia Forum 2012
The AVCJ Indonesia Forum on 20 March 2012 will offer attendees access to and analysis of this untapped market, explore how to maximise returns and minimise risks. AVCJ is offering AVCAL members a 15% discount off the standard rate.

PE Asia special offer
PE Asia is currently offering AVCAL members a 20% discount for new subscribers. Please email PE Asia for more information about this offer. Ensure you quote AVCAL11 to receive this discount.

Preqin special offer
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.

Capital IQ special offer
Capital IQ is currently offering AVCAL members a 2 month free trial for new subscribers.

Guide to Responsible Investment discount
PEI Media's Guide to Responsible Investment provides practical ESG guidance from over 25 industry experts. AVCAL members receive 15% off, quote AVRI15 to redeem.




RESEARCH PARTNERS

Ernst & Young

Pacific Strategy Partners


AVCAL 2011 PARTNERS

Castle Harlan

Advent

Gallagher

NAVIS

AON

KKR

Ironbridge

CATALYST

Archer Capital

TEST CBA 3

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

Westpac

ROTHSCHILD

McGrathNicol


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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