NEWSLETTER MAY 2013
   

CEO'S NOTE

Dear [FirstName],

The Government's budget had little in it either way for our sector that had not already been signalled beforehand. The key component that affects PE is the change to the Thin Capitalisation rules. The Government has confirmed that they will reduce the ratio for deductible debt to 60% from 75% of assets. The arm’s length test will be retained for now but they will be referring this to the Board of Taxation to further review. For a more comprehensive analysis please refer to our Members Policy Portal.

On the VC front the appropriation for the new IIF round of $350m is embedded in the budget bills. This is promising though time is fast running out to ensure it is safe. Consequently we will keep up our lobbying work with the Opposition so that if they become the next Government they will also support the IIF (and the VCLP improvements).

We have also made a joint submission with the FSC, ASFA, ACSA and AIMA outlining our concerns over the proposed Portfolio Holdings Disclosure (PHD) framework for superannuation funds, as set out in the Superannuation Legislation Amendment Regulation 2013 exposure draft. This will have significant implications for the managed funds industry, so we are calling on the Government to undertake more targeted consultation with stakeholders before finalising the revised regime.

Registrations for our 20th annual alpha Conference open to all members next Tuesday. We've had a positive response so far, with Cbus, Future Fund Management Agency, IOOF, OP Trust, Partners Group and QIC already registered. We expect around 500 delegates this year, with strong support shown from all sectors of the private equity and venture capital industry. We have a great lineup of speakers over the two days with Ali Moore returning as our MC. Some of our confirmed keynote speakers include:

  • Urs Wietlisbach from Partners Group who will open the conference with a global perspective
  • Jon Moulton who will join us from the UK to give us the latest update on Europe and 101 reasons why we should be happy
  • Bill Evans, Westpac's Global Economist who will return for his annual global economic report

You can keep up to date with our program and session speakers here. Please ensure you have all the information required of your organisation to be registration ready. Please remember that to register for conference you need to be a member for FY12/13 and for FY13/14. If you are already a member, please renew promptly on 1 July so this doesn't impede your registration.

Kind regards

Katherine Woodthorpe
Chief Executive

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Corporate Partners

   

     

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NETWORKING & PROFESSIONAL DEVELOPMENT

AVCAL corporate golf day - Last chance to register
23 May, Sydney

We have a great mix of industry participants attending including GP's and investors. There are 73 members registered with spots still available so get a team together and register.


Event partner

PE 101 - members and non-members
20 June, Melbourne

Our ever-popular PE101 course is running again in Melbourne and will be presented by our Head of Research, Dr. Kar Mei Tang and Robert Read, Managing Director, Harbert Management Corporation. There are three spots left so register soon.

Program partner 

                      

alpha 2013 - registrations open next week

17 (pre-events) 18-19 September 2013, Gold Coast

Registrations open Tuesday 21 May 2013 at 9:00 am

Not a member of AVCAL? Check out the benefits here.

View our calendar of upcoming events

Express your interest

AVCAL Connect - members only

Following a successful sell-out event in Sydney, we are canvassing interest among our members for another AVCAL Connect event in Melbourne on 18 July. AVCAL Connect was designed to promote a peer group for new entrants to the industry and create an opportunity to network with experienced industry practitioners. The inaugural event in Sydney was launched by Peter Wiggs, Managing Partner, Archer Capital and Corey Payne, NSW Young Australian of the Year. If you're new to the industry and want to meet and greet with like-minded peers and industry leaders, then this is the right forum for you. The format of the event will be after work drinks with a short Q&A session with special guests. You must be a member to attend.

Express your interest

GP member-only master class on Deals modelling in private equity

We are considering a GP member-only master class on Deals modelling in private equity to add to our PD program. This may be a two day or one day course depending on feedback and expressions of interest. The proposed program is aimed at private equity practitioners who are likely to come across financial models or build financial models as part of their responsibilities. The courses will be tutored by Deals Modelling professionals, each with +10 years of deals modelling experience.

Express your interest

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AVCAL Partners

   

 

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Data Partner

Philanthropy Partner

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OTHER EVENTS & MEMBER OFFERS

Events

SAP Private Equity Luncheon: IT Due Diligence
Establishment Hotel (Room III), 252 George Street, Sydney, 6 June
Experts will present how to measure IT-related risks, costs and benefits in a target company.

30th Anniversary EVCA Symposium
Swiss Hotel, Istanbul, Turkey, 26-28 June 2013
AVCAL is pleased to be a Supporting Association for the European Private Equity and Venture Capital Associations’ (EVCA) 30th Anniversary Symposium.  As an AVCAL member, you are eligible to receive a discount of 10% on non-member delegate fees.

Harvard Club of Australia Leadership Program
Novotel Manly Pacific Hotel, Manly Beach, 28 July - 2 August
AVCAL members may have businesses they are working with that would benefit from this practical, hands-on, five-day residential program.  Presented by Harvard Business School Professors Ben Esty and Stuart Gilson, it will give executives financial frameworks and analytical tools, and the commercial acumen they need to be successful.   For information contact 02 9251 1616 or hca@harvardclub.org.au

Ci2013: Creative Innovation 2013 Asia Pacific "A Race to the Future"
Sofitel Melbourne on Collins, Melbourne, 27-29 November
Use the code E6 to redeem a 10% discount for online bookings (or 15% discount by phone). Bookings open from 12 June. Visit the Ci2013 website then for special offers.

 

Offers

View member-only offers

Inside Private Equity by Bill Ferris - 20% discount and free shipping if purchasing the hardcover or paperback editions before 30 April 2013 (promo code is 'equity20')

Australian Private Equity Handbook - 15% discount for AVCALmembers (promo code is 'AVCAL2')

PE Asia special offer - 20% discount for AVCAL members as new subscribers

Guide to Responsible Investment discount - AVCAL members receive 15% off (promo code is 'AVRI15')

AVCAL, L10 Kyle House, 27-31 Macquarie Place, Sydney 2000
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