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Luxembourg, a European gateway for China: update on Private Equity and M&A

Luxembourg, a European gateway for China: update on Private Equity and M&A

Co-organised by LPEA and ChinaLux

The Luxembourg, a European gateway for China: update on Private Equity and M&A conference will, for the first time, explore Luxembourg’s role in inbound and outbound investments between China and Europe.

Co-organised by the associations ChinaLux and LPEA, the event will bring together speakers from China and Luxembourg who will share their insights on the growing importance of Luxembourg as a bridge between China and Europe and notably in the Private Equity and M&A sectors.


A hub for expansion into Europe and beyond

Luxembourg has a long-standing reputation of being the global center of cross-border investment fund management. Therefore, if a Chinese asset manager plans to launch an investment fund product and to distribute this on a cross-border basis, i.e., not only in Europe but back to Asia, to Latin America and to the Middle East, Luxembourg offers the ideal platform for their distribution ambitions. A number of well established factors make Luxembourg the leading jurisdiction. These include Luxembourg’s “brand recognition” and “track record” in the cross-border space with a market share of almost 75%, the existence of a center of excellence for its fund infrastructure and expertise to create products covering all asset classes and for any investor type, deep servicing and product structuring know-how in the cross-border space, multi-language capabilities and, most importantly, a very stable economic, political and regulatory environment.

Photo Gallery



Schedule


  • 4.30 pm

    Registration

  • 5.00 pm

    Welcome and introduction by LPEA and ChinaLux.

    Jérôme Wittamer, President LPEA
    Dirk Dewitte, President ChinaLux

  • 5.10 pm

    China investing abroad

    Chinese outbound policy | Statistics: global outbound investments by China | What drives outbound from a Chinese view point | What are the sectors and key markets | Major players

    Cedric Carnoye, Managing Director Hong Kong desk Deloitte
    Lorenzo Stanca, Managing Partner Mandarin Capital Partners

  • 5.25 pm

    Private Equity in China: state of the market

    PE industry in China (figures) | Main sectors, main players, IRR | Outbound versus inbound | Challenges | PE links with Luxembourg

    Julien Kinic, Co-founder and Managing Partner IDI Emerging Markets

  • 5.35 pm

    Luxembourg: bridge between Europe and China

    Overview of the last 12 months PE / M&A acquisitions made by China into EU | Overview investments into China via Lux | Main sectors, main players, IRR | Partnership | Challenges | Luxembourg as the gateway to Europe

    Alain Kinsch, Country Managing Partner EY Luxembourg, Head of EY Chinese Overseas Investment network

  • 5.45 pm

    Testimony from a Chinese bank: Role of a Chinese bank for a M&A / PE transaction

    Lin Fengyun, Executive Vice President, Global Banking Dep., ICBC Head Office Beijing, China

  • 5.55 pm

    Discussion panel

    Moderated by Dirk Dewitte, President Chinalux

    Why a Chinese company is using Luxembourg for structuring a transaction
    Lorenzo Stanca, Managing Partner Mandarin Capital Partners

    Technology transfer between Europe and China
    Dan Choon, Dyan S.à r.l.

    Attractiveness of Luxembourg vehicles to structure M&A / PE transaction
    Katia Panichi, Partner EHP

    Testimony from a PE/ VC house investing into China
    Julien Kinic, Co-founder and Managing Partner IDI Emerging Markets

  • 6.40 pm

    Closing & Networking cocktail


Sponsors


 

Organisers


 

Meet us at the Luxembourg Chamber of Commerce

7, Rue Alcide de Gasperi
Luxembourg Kirchberg


LPEA Insights – 360 GP View

LPEA Insights

360 GP View


The LPEA Insights: 360 GP View conference is a new concept proposed by the Luxembourg Private Equity and Venture Capital Association. This new initiative will bring on stage General Partners (GPs) and Limited Partners (LPs) to discuss and showcase the industry from the “360” perspective of local practitioners, together with additional contributions from guest speakers specially invited to the event. 

Learn why buyout, venture capital, private debt, emerging markets and other private equity strategies outperform traditional asset classes, get abreast of the latest trends and opportunities and discover how to deploy money into these investment strategies.



Free for Investors/ Asset Managers.

50% Discount to members of LPEA.

Take advantage of early bird rates.

AGENDA


1.45 p.m.

Welcome Coffee


Opening & Keynote Speech


2.30 p.m.

PE and VC in Luxembourg: 10 years from now by Jerome Wittamer, President of LPEA/ Founding Partner, Expon Capital
Welcome speech by the Minister of Finance H.E. Pierre Gramegna
Keynote by Mark Florman, LPEQ – Listed Private Equity Association


What it takes to succeed in Private Equity

How to drive success from different portfolio strategies: direct investing, co-investing and fund of fund investing.
Testimonials from managers of buyout and growth funds raised from institutional investors and family offices.


3 p.m.

Claus Mansfeldt, Swancap
Manuel Roumain, Kharis Capital
Stephanie Delperdange, Sofina
Pierre Weimerskirch, Luxembourg Investment Solutions (moderator)


Luxembourg in the global Venture Capital ecosystem

Why Venture Capital investing requires deep expertise. Why is it the best time ever to be an Entrepreneur in Europe and what are the new opportunities in technology? How is the VC scene changing? What does VC bring to an investment portfolio? Who is investing in this asset class?


3.30 p.m.

Uli Grabenwarter, Luxembourg Future Fund/ EIF
Rodrigo Sepulveda Schulz, Expon Capital
Hans Jürgen Schmitz, Mangrove Capital Partners
Gilles Dusemon, Arendt & Medernach (moderator)


4 p.m.

Coffee Break


The rise of direct lending in Europe

What is the range of private debt opportunities and investment strategies ? How conservative is this asset class? How to best get access to it?
Does it replace traditional bond portfolios? Who is investing in this asset class?


4.30 p.m.

Edouard Guillet, IPF Partners
Gustavo Diquez, Cordet Capital Partners
Maximilien Dambax, AlterDomus (moderator)


Luxembourg in the crossroads of Emerging Markets

What is Emerging Markets investing and why is it relevant today? Where are the opportunities ? What is the best way to address these markets? Is this strategy for all types of investors?


5.00 p.m.

Julien Kinic, IDI Emerging Markets
Jean Philippe de Schrevel, Bamboo Capital
Carlos Heneine, Quilvest Private Equity
Anja Grenner, SGG (moderator)


Structuring benchmark

How to navigate the different alternatives structures and pick the right one for your investment strategy.


5.30 p.m.

Andrea Neuböck-Escher, EQT Fund Management
David Capocci, KPMG (moderator)


Closing Speech

François Tesch, Luxempart


6.00 p.m.


Cocktail


6.15 p.m.

SPEAKERS


Stephanie Delperdange

Head of Luxembourg Office, Sofina


Stéphanie Delperdange joined Sofina in 2007. She is heading the Luxembourg office of Sofina group in charge of managing a diversified portfolio of venture and private equity funds, mainly focused on the United States, but also Europe, India and China. In her role, she is implicated in the selection of GP’s as well as on the day-to-day management of the Luxembourg entities of the group. Earlier in her career, Stéphanie was audit manager at KPMG Luxembourg. She is a graduate of the ICHEC business school in Brussels and is a Luxembourg chartered accountant.


Gustavo Diquez

Investment Professional & Chief Operating Officer, CORDET Capital


Gustavo joined CORDET Capital  in 2013 as COO and Investment professional responsible for the UK and Northern Europe. CORDET is an independent credit specialist offering private debt and direct lending solutions for smaller mid-market companies and core income-focused credit investment solutions for institutional investors. Gustavo began his Leveraged Finance career with Dresdner Kleinwort and has underwritten over €20bn of loans and high yield bonds to date. Prior to joining CORDET, Gustavo was part of UBS’s Sponsor Coverage and Leveraged Finance team in London where he worked on private equity transactions and corporate refinancings, gaining extensive origination, structuring and execution experience.


Mark Florman

Chairman of LPEQ


Mark Florman’s career in financial services spans some 30 years. Following an early career in banking, including the creation and leadership of one of the leading independent investment banks in Europe, he was a Senior Principal at Doughty Hanson from 2001 to 2008. He went on to form the private equity business 8 Miles and was CEO of the BVCA from January 2011 until April 2013, where he encouraged a new dialogue with regulators and politicians focusing on the role of private equity and venture capital in driving economic growth in Europe’s economies. In 2014, Mark became a Trustee of the BBC Trust and is the BBC Trustee for England. In 2016 Mark was appointed Chairman of  the Listed Private Equity Association (LPEQ).


Uli Grabenwarter

Deputy Director, European Investment Fund


Uli Grabenwarter is Deputy Director at the EIF overseeing activities in Impact Investing, Technology Transfer and Venture Capital. Previously he was responsible for EIF’s strategic development for equity and has led the build-up of the Social Impact Accelerator, the first pan-European social impact investing fund-of-funds. From 2010 to 2012 he conducted a research project on impact investing in collaboration with IESE University of Navarra (Barcelona) and the Family Office Circle Foundation in Switzerland, analysing best-market-practice for impact investing in private equity and VC.


Edouard Guillet

Partner, IPF Partners


Edouard Guillet is Partner of IPF Partners, leading alternative financing provider focused on the European healthcare sector. With 18 years of experience in the healthcare industry & consulting, Guillet is a former Business Unit head at Gilead Sciences and Manager at Medtronic and the Boston Consulting Group. He has an extensive experience in healthcare product, project and general management and an MsC from HEC School of Management in Paris.


Carlos Heneine

Co-head of Emerging Markets, Quilvest Private Equity


Carlos Héneiné manages the team at Quilvest that oversees PE Investments in Asia, Latin America, Eastern Europe as well as Middle East and Africa. He is based in Dubai, where he is a Managing Director of the office that handles co-investor relationships with regional family offices and institutions. Carlos started his career at British Aerospace and after his MBA embarked on a 10 year stint in Consulting at Booz Allen and Hamilton and Mercer Management (now Oliver Wyman). He shifted to the financial sector in 1999 when he joined Banque Saradar as Head of Strategy before assuming his current functions at Quilvest in 2005. Carlos holds an MBA from INSEAD and a Bachelors degree in Aeronautical Engineering from Imperial College of Science and Technology at London University.


Julien Kinic

Managing Partner, IDI Emerging Markets


Julien is a co-founder and a managing partner of IDI EM. He holds numerous seats in funds governance bodies as well as in portfolio companies’ boards. Previously, he spent two years in Agence Française de Développement (AFD, Proparco), the French government arm dedicated to the financing of emerging and developing countries, contributing to its development of both direct and indirect private equity investments. Prior to that, he spent 5 years as an investment director at Cognetas, formerly known as Electra Partners Europe, a pan-European fund specialized in LBO.


Claus Mansfeldt

Chairman / Managing Director, SwanCap Investment Management SA


Prior to SwanCap, Claus was heading UniCredit’s Principal Investments unit in London for 10 years where he was responsible for managing the origination, structuring and execution of private equity investments with a focus on Central & Eastern Europe (CEE). Before UniCredit Claus worked for Commerzbank in the Corporate Finance & Capital Markets division in London and was responsible for origination in the Nordic Region. Prior to this Claus also worked 12 years for Nomura International plc (London), in the Merchant Banking division, focused on direct investments in CEE (1995-2000) and in the Capital Markets division (1988-1995). Education: BSc.(Econ), London School of Economics.


Rajaa Mekouar

Syndicate, Investments & Partnerships, Kharis Capital


Rajaa Mekouar has joined Kharis Capital in 2016 after 15 years of experience in Private Equity. Arriving in Luxembourg to set up a PE division in Fuchs Group, Rajaa has a long career with GP roles at Draper Fisher Jurvetson ePlanet Ventures, Lazard European Private Equity Partners, Change Capital Partners and Serendipity as well with an advisor/ LP focus in Massena Partners, Terra Magna Capital and Maera Capital. Graduated by HEC Grande Ecole and MBA INSEAD, Rajaa started her career at Procter & Gamble and Dresdner Kleinwort (M&A).


Andrea Neuböck-Escher

Manager, EQT Fund Management S.à r.l.


Andrea has over 9 years of professional Private Equity experience gained in various roles for EQT with a strong focus on transaction structuring and management in and through Luxembourg. She started at EQT Partners in Munich in 2008 in the investment team and moved to Luxembourg in 2009 to help building up EQT‘s team and office there. Following the rapid growth of the group and the decision to put funds on-shore, she most recently spent most of her time on structuring and fundraising a big Luxembourg domiciled buy-out fund.


Manuel Roumain

Co-founder of Kharis Capital


Manuel Roumain managed direct and LP investments across all asset classes during his 10-year tenure as the Chief Investment Officer of a prominent Family Office in Geneva, the Edmond Safra Philanthropic Foundation, after having gained extensive Capital Markets experience with major Wall Street firms Goldman Sachs, UBS and Citigroup. Manuel serves as a non-executive board member of BK SEE, and Managing Partner of le Club B, a leading non-profit family office forum, connecting over 250 prominent families. His strategic thinking, focus and accountability have also allowed him to establish and foster key relationships with Fund Managers and long term investors.


Hans-Jürgen Schmitz

Co-founder, Mangrove Capital Partners


Hans-Jurgen Schmitz grew up in Germany in an entrepreneurial family where he was exposed early on to the chances and challenges of running a company. He co-founded his firm in 2000 with Mark and Gerard because he believed they were a complementary team, something he keep considering a key success factor in every investment opportunity he look at. He is focused on finding innovative and disruptive businesses in the universe of e-commerce across Europe and emerging countries such as Russia and India, recognizing that in this field solid execution skills from the outset are equally as crucial as entrepreneurial spirit and vision to build big businesses.


Jean-Philippe de Schrevel

Founder & Managing Partner, Bamboo Capital


Jean-Philippe de Schrevel leads business development at Bamboo Finance. Previously, he co-founded BlueOrchard Finance in 2001. Prior to that, he was the Dexia Micro-Credit Fund Manager at Dexia Asset Management, a Junior economist in Romania for a EU PHARE technical assistance program, Field Consultant in Microfinance for a Belgian NGO, an Associate with McKinsey & Co, the Operations Director of a private Microfinance Foundation in Argentina, and a Consultant for the UNCTAD Microfinance Unit in Geneva. Jean-Philippe is fluent in French, Spanish and English. He holds a MA in Economics from Université Notre-dame de la Paix in Namur, Belgium, and a MBA from the Wharton School of Business.


Rodrigo Sepúlveda Schulz

Managing Partner, Expon Capital


Rodrigo Sepúlveda Schulz is a co-founder and Managing Partner of Expon Capital. He started his career working with industrial, banking, retail and media clients for two large consultancies co-creating the Internet security, Internet strategy and online marketplaces practices. He co-founded in 2002 Glowria, a video-rental and VOD service (#1 in France & #2 in Germany). In 2005, he co-founded and ran vpod.tv, an award-winning multi-media content management software. Both had significant venture-capital financing and were acquired. In 2009, he became an active business angel and startup mentor with a strong focus on consumers investing in companies such as Amiando, Trigami, GetAround, RecargaPay, ManifestCommerce, Boostable, Roomorama, Tribe, Holberton School, Attach.io, etc.


François Tesch

CEO/Managing Director of Luxempart


François Tesch serves as the CEO of Luxempart S.A. and as the Chairman of the board of Foyer S.A. and since 1985 has been its Director-General (now Chief Executive Officer). He serves as Vice Chairman of SES, S.A. and as Chairman of the Board Financière de Tubize S.A. He worked as a Financial Analyst at W.R. Grace & Co in New York and as a Financial Director at W.R. Grace & Co in Paris.


Jérôme Wittamer

President of LPEA


Jérôme Wittamer started investing in technology 25 years ago and has been active both as an investor and as an entrepreneur, all in the technology, telecom and internet space, most recently with Genii Capital for whom he led the successful sale of SecureIT, the datacenter used by Skype since day 1 in Luxembourg. At BIP Investment Partners he led successful investments in media and communication technology companies such as EVS (IPO), Option (IPO) and Evertz (IPO), all of which became a world leader in their field. During that period, he contributed to the foundation of VOXmobile, a mobile operator (sold to Orange).

MODERATORS


David Capocci

Partner, Head of Alternative Investments, KPMG


Maximilien Dambax

Head of Debt Administration Services, Alterdomus


Gilles Dusemon

Partner, Private Equity & Real Estate, Arendt & Medernach


Anja Grenner

Fund Services Leader, SGG Luxembourg


Pierre Weimerskirch

Managing Partner, Luxembourg Investment Solutions

SPONSORS


 

PARTNERS


 

REGISTERED ASSET MANAGERS


(as of 23/03/2017) Alpes Capital, Amethis Finance, Andbank Luxembourg, Apax, Apollo Real Estate Investment, Athys Capital Advisors, Aulien Partners, Bamboo Capital, Bear Value Management, Bemaco SA, CA Indosuez Wealth (Europe), Calibrium AG, Castik Capital S.a r.l., Cordet Capital Partners, Cinven, CIR International, CPP Investment Board, Creafund Management, Creon Capital, Degroof Petercam Asset Services, DEMETER-EMERTEC, Deutsche Bank Luxemborg SA, E² Capital, Edifice Capital Luxembourg, Encevo Group, EQC Agrifund, EQT Ventures, European Investment Bank, Expon Capital, European Investment Fund, Foyer, Fuchs Asset Management, FWU Invest, Genii Capital SA, Hld Associés Europe, ICBC (Europe) S.A., IDI Emerging Markets, ILP, Inserm Transfert Initiative, IPF Partners, IWI International Wealth Insurance SA, J.P. Morgan Bank Luxembourg, KBC Asset Management, KBL, Kharis Capital, KOHD Capital, LBAN, L-GAM Advisers LLP, Lalcap (UK), LuxempartMangrove Capital Partners, Marble Arch Capital Ventures LLP, MIM 3 SA Luxembourg, Mirabaud & Cie Europe, Mitsubishi Bank, Moai Partners SARL, Mojo.Capital, Monarch, New Angle Capital, Nordea Bank, Palmarium Fund Managers SA, Permira Luxembourg SARL, Pure Capital, Quilvest Private Equity, RIAM GmbH, RLCF, Royalton Partners SA, RMI Partners, Senthera Capital UG, Sienna Capital, Société Générale Bank & Trust – SGSS, Sodires, Sofina, SwanCap Investment Management, Tenzing Capital Partners SARL, Triton, TwentyTwo Group Holding, UniCredit Luxembourg, Victida SARL, VP Bank (Luxembourg) SA, Wendel.


ABOUT LPEA


The Luxembourg Private Equity and Venture Capital Association (LPEA) is the representative body of private equity and venture capital professionals in Luxembourg.

With over 140 members, LPEA plays a leading role in the discussion and development of the investment framework and actively promotes the industry beyond the country’s borders.

Luxembourg disposes of a stable tax regime and is today at the forefront of international PE regulation providing a flexible, secure, predictable and multi-lingual jurisdiction to operate in.

LPEA provides a dynamic and interactive platform for its members to discuss and exchange information and organises working meetings and networking opportunities on a regular basis.

If Luxembourg is your location of choice for private equity, LPEA is where you actually join the industry!


Philharmonie Luxembourg

1, place de l’Europe
L-1499 Luxembourg


IPEM 2017 (25-27 January 2017) – Cannes




IPEM is the international marketplace that brings together the whole key players of the private equity industry: LP’s, GP’s Family Offices, Service Providers and business owners seeking to procure funding for their development.

For this second edition the organisers launched two new formats:

      • the LP Summit : a closed-door event reserved to institutional investors to share and address key issues through a morning of interactive roundtable discussions.
      • the Entrepreneur Forum: conferences, workshops and pitch sessions, and “Happy Hours” every evening on the exhibition area.

LPEA was a partner of IPEM 2017 in which participated with a booth in the exhibition area. The business fair was an important meeting point to exchange and present Luxembourg private equity with asset managers, entrepreneurs, investment associations and the media.



 

Super Investor (15-18/11/2016)

Super Investor (15-18/11/2016)

Where Global LPs and GPs Meet



LPEA is pleased to endorse the 16th annual SuperInvestor 2016; Europe’s foremost private equity institutional investor conference taking place at the Hotel Okura, Amsterdam from 15-18 November 2016. Do not miss your chance to…

  • Meet more than 1000+ global attendees
  • Network with 330+ powerful LPs
  • Hear from an incomparable line-up of 250+ industry heavyweight speakers
  • View the delegate list & arrange invaluable meetings ahead of time on the online app

With a programme designed for great networking – both formal and informal – and quality debates and exchanges, you will create numerous invaluable contacts and have great face to face conversations with people you want to meet.

Just some of the speakers already confirmed to attend include:

  • David Rubenstein, Co-Founder & Co-CEO, THE CARLYLE GROUP
  • Andrea Bonomi, Senior Partner, INVESTINDUSTRIAL
  • Diane Mulcahy, Senior Fellow, KAUFFMAN FOUNDATION
  • Maarten Vervoort, Managing Director, ALPINVEST PARTNERS
  • Benoît Verbrugghe, Head of Ardian USA, ARDIAN
  • Anders Stromblad, Head, Alternative Investments, AP-FONDEN 2
  • Iain Leigh, Managing Director Global Private Equity, APG ASSET MANAGEMENT
  • Robin Jarratt, Head, Private Credit , GIC
  • Grzegory Gut, CIO, SHELL ASSET MANAGEMENT COMPANY
  • Morgan McCormick, Managing Director & Head of European Office, OPTRUST

LPEA members can claim a 10% member discount with VIP code: FKR2386LPEA

View the latest agenda and register online here
Link: http://www.icbi-superinvestor.com/

10% Discount for LPEA Members


      • Forge Lasting Relationships With 1000+ Global Private Equity Decision-Makers
      • Meet & Do Business With An Unparalleled Assembly Of 330+ Private Equity Investors
      • Invaluable Insights From 250+ Innovators and Influencers At the Forefront Of The Industry

10% member discount with VIP code: FKR2386LPEA





Meet us at The Hotel Okura, Amsterdam



Luxembourg Breakfast in London (19 Oct. 2016)

Luxembourg Breakfast in London (19 October 2016)

Luxembourg, a fast-growing Alternatives’ Fund Center

Luxembourg, a fast growing Alternative Fund Center

How PE Fund Managers are adapting to a changing market

The Luxembourg Private Equity and Venture Capital Association (LPEA) returns to London this October for an update on Luxembourg’s key features available to UK fund managers.

With Brexit in the agenda and significant uncertainty in the sector, the session will showcase Luxembourg as an important partner for the distribution of funds across Europe,  as it has been for many years.

This will also be the occasion to go through the characteristics and infrastructure available in Luxembourg and which make it a country with much more than meet the eye.

We invite you to register in the event below and to stay tuned on further details of the agenda.


Pictures



Luxembourg is well known for its solid financial centre which success is founded on the social and political stability of the Grand Duchy and on a modern legal and regulatory framework that is continuously updated.

Over the years, specific regulatory frameworks have been created for alternative investment funds and venture capital investment funds which, combined with Luxembourg’s openness to the world, has attracted many private equity firms and specialist service providers from all over the world.

LPEA, as the trade association for Private Equity and Venture Capital Players in Luxembourg, is hosting this roadshow to present the country and the conditions which have already attracted some of the major international PE firms to set office in Luxembourg. We expect you to learn first-hand testimonials from some of our players as well as from the service providers who, together with the investors, build a strong and reliable ecosystem.


Speakers


 

Schedule


  • 8.00 AM

    Registration & Breakfast

  • 8.15 AM

    Opening remarks by Olivier Coekelbergs, Partner, PE Leader, EY Luxembourg

  • 8.25 AM

    A UK view of how Brexit will impact the PE industry by Eamon Devlin, Managing Partner, MJ Hudson

  • 8.45 AM

    The Luxembourg solution for UK based GPs
    Regulatory and legal aspects by Gilles Dusemon, Partner, PE&RE, Arendt & Medernach
    Tax aspects by Vincent Lebrun, Tax Partner, PE Leader, PwC Luxembourg

  • 9.20 AM

    Real experience of setting up a Luxembourg platform
    Moderator: Nick Tabone, Partner, PERE & Soparfi, Deloitte Luxembourg
    Panelists:
    Chris Connelly, Senior Managing Director, Head of Operations and IT, ICG
    Jerome Wittamer, Founding Partner, Expon Capital

  • 9.50 AM

    Closing remarks by Olivier Coekelbergs, Partner, PE Leader, EY Luxembourg

  • 9.55 AM

    Networking Coffee


Sponsors


 

Meet us at the Carlton Club

69 St James’s St
London SW1A 1PJ


Luxembourg Private Equity mission to the US (May 2016)

Luxembourg Private Equity mission to the US

Summary of LPEA’s workshops in New York and Boston (May 2016)


Pierre Weimerskirch (Luxembourg Investment Solutions) and Anja Grenner (SGG) presenting in Boston.

LPEA held its 4th mission to the US on May 25th and 26th with the organisation of two breakfast sessions in New York and Boston. With three previous visits to New York, this was the first time a Luxembourg delegation presented in Boston for the local PE-VC community.

LPEA’s presentations in the US are now a regular initiative in the international promotion of Luxembourg as a PE hub. For many years Luxembourg has attracted the major PE firms and their interest continues to grow. Several factors contribute to this preference for Luxembourg as a location of choice to centralise operations:

  • Fully fledged toolbox to setup and manage PE-VC funds
  • One-stop shop with easy access to legal, tax and auditing experts
  • Quick time to market with further improvements to come soon (RAIF)
  • Pure cross-border marketplace with 6.000 multi-lingual professionals in the alternatives industry alone
  • Double taxation agreements with 90+ countries
  • Access to authorities with 1-to-1 meetings

The sessions held in the US, notably in New York and Boston, two of the major locations where global US PE firms are located, target different subjects but remain loyal to the main topics investors are looking for:

  • AIFMD & Distribution (license, regulation, third party solutions…)
  • Luxembourg Limited Partnership
  • Introduction of the Reserved Alternative Investment Fund (indirect regulation)
  • Structuring and Governance of PE funds
  • Impact of BEPS
  • Change of the Luxembourg Corporate Company Law
  • Private Debt

LPEA roadshows have attracted the attention of major PE houses such as Apollo Global Management, The Carlyle Group, Alliance Bernstein or Audax Group amongst a wide range of small to large investors as well as a wide community of legal and tax experts accessorizing cross-border operations.

The presence of Luxembourg authorities in such presentations is also revealing of the country’s commitment to promote the marketplace abroad. While the Hereditary Grand-Duke of Luxemburg Prince Guillaume attended the latest event, the Ministers of Economy and of Finance, as well as the Consul General of Luxembourg in New York, are regular speakers at the events and showcase Luxembourg’s openness to change the industry towards the needs of the investors.

For those less aware of Luxembourg’s latest developments, Paul Junck, Managing Director of LPEA, summarises the trends shaping the sector:

“Luxembourg is for long known as a reliable PE hub, with 9 of the 10 major PE firms doing business in the country already. Some of the bigger players manage funds worth $1B or more such as Ardian, Astorg, Castik, EQT, PAI or Goldman Sachs, among others. The trend is definitely to increase the AuM figures, especially when it comes to debt funds which number increased by 500% in the past 3 years or the growing number of smaller funds ($400-500m)”.

The market has not increased by chance. “The expansion of existing platforms and the new business, much of it from the US, results of the decline in the use of reverse solicitation and national private placement regimes to raise funds in Europe, a consequence of the implementation of the AIFMD.”

“Luxembourg, having a well-oiled machine in the retail funds industry – the 2nd biggest market worldwide after the US with over $3.8B of AuM today, applied the same expertise to develop vehicles and regimes aimed at facilitating the investment process while respecting all sort of regulation and international agreements towards a level playing field. The use of Luxembourg’s toolbox with the preference for dealing with less jurisdictions by the investors, turns Luxembourg into a sweet spot for alternatives investors in general and in particular for those dealing with PE and VC.”

LPEA plans to return to the US on October 5th to provide a new market update and share the latest trends.

To stay informed of upcoming events please contact lpea-office@lpea.lu.

From left to right: Jerome Wittamer (President of LPEA), H.E. Étienne Schneider
(Minister of the Economy of Grand Duchy of Luxembourg), H.R.H Prince Guillaume (Hereditary Grand-Duke of Luxemburg), H.R.H Princess Stéphanie (Hereditary GrandDuchess of Luxembourg), Paul Junck (Managing Director of LPEA).



New York session (25 May 2016)



Nigel Williams (Royalton Partners) presenting in New York.



New York session.



Further pictures of the NY event can be found here and of the Boston event here.

About LPEA

The Luxembourg Private Equity and Venture Capital Association (LPEA) is the representative body of private equity and venture capital professionals in Luxembourg.

With over 130 members, LPEA plays a leading role in the discussion and development of the investment framework and actively promotes the industry beyond the country’s borders.

Luxembourg disposes of a stable tax regime and is today at the forefront of international PE regulation providing a flexible, secure, predictable and multi-lingual jurisdiction to operate in.

LPEA provides a dynamic and interactive platform for its members to discuss and exchange information and organises working meetings and networking opportunities on a regular basis.

The national PE-VE association has since 2012 invested in the international promotion of Luxembourg’s thriving PE-VC sector by way of presentations in key markets such as London, Munich, Paris, Zurich and Stockholm, alongside its regular presence in international conferences such as SuperReturn International.

Breakfast Conference on BEPS (June 8th 2016)

Breakfast Conference on BEPS (June 8th 2016)

LPEA Tax Committee

Venue:
Société Générale Securities Services
Espace du Forum    Niveau -1
21, Rue d’Epernay
L-1490 Luxembourg

Moderated by Julien Bieber, Partner, KPMG

8:30   Registration and breakfast

9.00   Welcome by Jean-Pierre Gomez, Head of Regulatory and Public Affairs, Société Générale Securities Services

Introduction to BEPS and its implementation by the EU and certain member states
            Flora Castellani, Tax Director, KPMG

9:30   Consequences on typical PE investment structures
Frank van Kuijk, Tax Adviser, Loyens & Loeff
David Roach, Tax Technical Expert, PwC

10:00  Closing

Save the date and reserve your seat by registering below.

The Organization for Economic Co-operation and Development (OECD) has now almost completed its Action Plan against Base Erosion and Profit Shifting (BEPS). The European Commission (EC) is pressing strongly for all its recommendations and even additional measures to be implemented across Europe through a proposal for an Anti-Tax Avoidance Directive.

The question is not whether this tax climate change will impact Private Equity, but when and to what extent: what about interest deduction rules, substance requirements, hybrid financial instruments and country-by-country reports?

Join us for a networking breakfast during which tax experts will explain the current status of the implementation of BEPS and how to adapt quickly to the new tax environment.



Société Générale Securities Services

Espace du Forum Niveau -1
21, Rue d’Epernay
L-1490 Luxembourg


Investing in Private Equity: The long-term investor journey (July 5th 2016)

Investing in Private Equity: The long-term investor journey (July 5th 2016)

Conference co-organised by Fuchs & Associés and LPEA


A post-event summary is available.


 Fuchs & Associés and the LPEA are pleased to invite you to a one time-event on Tuesday July 5th 2016 from 14:30 to 18:00 with the “Investing in Private Equity: The long-term investor journey

IP_IanPrideaux

Special Guest: Ian Prideaux, CIO of The Grosvenor Estate*
* Investment office of the Grosvenor family, headed by the Duke of Westminster

The event is kindly hosted by BIL.


  • 14.30 | Guest arrival and reception

  • 15.00 | Welcome note

    Serge Weyland, BIL

  • 15.10 | Introduction to Private Equity

    Rajaa Mekouar, Head of PE and Advisory, Fuchs & Associes

  • 15.30 | PE Investing: The Long Term Investor Journey

    Ian Prideaux, CIO of The Grosvenor Estate*
    * Investment office of the Grosvenor family, headed by the Duke of Westminster

    Followed by Q&A

  • 16.00 | The different ways to getting exposure to Private Equity

    First-hand feedback from expert practitioners

    Stephanie Delperdange, Head, Sofina Luxembourg

    Ian Prideaux, CIO Grosvenor Estate

    Jerome Wittamer, Partner, Expon Capital

    Matthias Ummenhofer, Partner, Mojo.Capital

    Moderation: Rajaa Mekouar, Head of PE and Advisory, Fuchs & Associes

  • 17.00 | Conclusions

    Jerome Wittamer, Chairman of the LPEA

  • 17.10 | Cocktail reception

  • 18.00 | End

The conference is kindly hosted by BIL

69 Route d’Esch
Luxembourg


Luxembourg PE-VC Breakfast Conference in New York (25 May 2016)

Luxembourg PE-VC Breakfast Conference in New York (25 May 2016)

Presentation of Luxembourg’s global hub for Private Equity

LPEA returned to New York for a presentation featuring the existing structures and competitive advantages of Luxembourg for US Private Equity and Venture Capital funds willing to create and manage funds in Europe.

Key features:

      • Overall PE landscape in Luxembourg
      • The Luxembourg tool box: legal and tax frameworks update and trends.
      • AIFMD & Distribution in Europe
      • Third-party AIFMs
      • The new Reserved Alternative Investment Fund
      • Special Limited Partnership
      • Impact of BEPS
      • Interview with guest GP

Reserve your seat by registering below.


Schedule


  • 8.00 AM

    Registration & welcome coffee

  • 8.30 AM

    Welcome and introduction

        • H.R.H Prince Guillaume, Hereditary Grand-Duke of Luxemburg
        • H.E. Étienne Schneider, Minister of the Economy of G.D. Luxembourg
  • 8.45 AM

    Introduction & Private Equity state of the market in Luxembourg

        • Jerome Wittamer, President of the Luxembourg Private Equity & Venture Capital Association
  • 9.00 AM

    The Luxembourg toolbox. Overview of Luxembourg’s legal and fiscal frameworks’ features and latest trends

    Moderated by Maarten Verjans, Partner PwC Luxembourg

    Key subject: AIFMD & DistributionThird-party AIFMsReserved Alternative Investment Funds (RAIF)Special Limited Partnership and Base Erosion Profit Shifting (BEPS) and Corporate Company Law in Luxembourg.

    Guest speakers:

      • Gilles Dusemon, Arendt & Medernach
      • Nigel Williams, Royalton Partners
      • Nicolas Fermaud, Allen & Overy
      • Frederic Selleslagh, KPMG Luxembourg
      • Dany Teillant, Deloitte Luxembourg
  • 9.50 AM

    Interview with New York based asset managers.

    Moderated by Pierre Weimerskirch, Luxembourg Investment Solutions

          • Stephen C. Hindmarch, Managing Director, GrayCliff Partners
          • Gavin Burke, SwanCap
  • 10:30 AM

    Closing


Roadshow Sponsors


 

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About LPEA


Luxembourg is well known for its solid financial centre which success is founded on the social and political stability of the Grand Duchy and on a modern legal and regulatory framework that is continuously updated.

Over the years, specific regulatory frameworks have been created for alternative investment funds and venture capital investment funds which, combined with Luxembourg’s openness to the world, has attracted many private equity firms and specialist service providers from all over the world.

LPEA, as the trade association for Private Equity and Venture Capital Players in Luxembourg, is hosting this roadshow to present the country and the conditions which have already attracted some of the major international PE firms to set office in Luxembourg. We expect you to learn first-hand testimonials from some of our players as well as from the service providers who, together with the investors, build a strong and reliable ecosystem.


Venue

New York Athletic Club
180 Central Park South
New York, NY 10019


Iberian Private Equity Conference 2016

The 3rd IPEC takes place in Madrid and brings together 50 speakers and 300 attendees (+80 GPs, +60 LPs and +50 CxO’s). The one-day event provides the unique opportunity to meet the Iberian and European Private Equity elite. Confirmed attendees and speakers include companies such as Corpfin Capital, Adams Street Partners, Bain Capital Private Equity, Advent International, PAI Partners, Explorer Investments, The Carlton Group, Akina Partners, MCH Private Equity and many more. 

Special discount of 15%-30% for LPEA Members by using the code LPEA_EB (early bird) and LPEA_RT (regular).