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Mumbai, 16-17 March 2006 - Day Two Roundtable Programme

India Private Equity

Roundtable Day Two: Friday 17 March

In-depth discussions between institutional investors and Asian private equity fund managers on issues facing the industry and the lessons that we have learnt.

9:30 a.m.
11:00 a.m.		 The Partnership & The Parting

Exit activities in Indian private equity have registered a historical high. In the 18 months ending June 2005, 47 exits are known to have taken place, 34% of which falls within the top quartile return range. Managing the partnership and preparing for its conclusion are ultimate tests to private equity investors skills. Experienced investors, joined by entrepreneurs, share their views on -

  • managing the partnership: alignment of interest for both parties
  • wisdom gained in failed and successful partnerships
  • preparing for the conclusion of the partnership

11:00 a.m.-
11:30 a.m.		 Break

11:30 a.m.-
  3:30 p.m.		 Private Equity in India: the New Dimensions

11:30 a.m.  
12:45 p.m.		 1. Buyouts
In the 18 months ending June 2005, Indian private equity recorded a handful of buyout investments. But the buyout momentum is set to accelerate as Indias first buyout focussed fund, the US$150 million India Value Fund II was over-subscribed. ICICI Venture Funds Management is aiming to raise at least US$750 million for buyout situations. This session invites global and domestic buyout houses to share their views on
  • whether India is ready for buyouts
  • the infrastructure required for a buyout market
  • the fundamentals of buyout structures employed by houses in Europe in USA
  • how buyout transactions have been completed in India and the creative structure used to overcome regulatory barriers

12:45 p.m.
2:00 p.m.		 Lunch

2:00 p.m.
3:30 p.m.		 2. Real Estate 
India is expected to welcome an approximate US$1 billion in foreign funds for its real estate market, following New Delhis recent de-regulation. Private equity firms are seizing this virgin market in setting up real estate funds. Since July 2004, three real estate funds that aggregate to no less than US$500 million have been established, enlisting ICICI Venture Funds Management, HDFC Venture Capital Management as well as Fire Capital Fund. Such has been the interest in the asset class the Reserve Bank of India has raised its risk weighting for lending in the real estate sector by 25%, to 125%.

Is real estate the next opportunity on the horizon?