Special Topics in Private Equity Veronica Eng Jan 2013

CLASS OUTLINE AND GRADING

Class Outline (1) Session

Date

Day

Time

Agenda

Preparation/Due

Session 1

16th Jan

Wed

6-9pm

Introduction to Private Equity Industry

Background readings

Session 2

17th Jan

Thu

6-9pm

Leveraged Buyouts

Due: Team identity

9-12noon

Cases: Korea First Bank and Shenzhen Development Bank

Session 3*

18th Jan

Fri

Review Cases

Guest: Weijian Shan (Chairman , PAG)

Session 4

Session 5*

19th Jan

19th

Jan

Sat

Sat

Special Topics in Private Equity 2

9-12noon

1-4pm

Cases: Asia Broadcasting Satellites and Akindo Sushiro Guests: Alex Emery (Partner & Co Head Asia, Permira) Willie Chow- Executive Director ABS Case Study: Karachi Electric Supply Guest: Omar Lodhi (Senior Partner and Asia Regional Head, Abraaj Capital) Case Study: Yupi Guest: Hanjaya Limanto (Senior Partner, South East Asia, Aureos)

Due: Group response on Exercise 1 and 2

Review Case : Karachi Electric Supply

Class Outline (2) Session

Date

Day

Time

Agenda

Preparation

Case: Homebase- Strategic Repositioning Session 6

20th Jan

Sun

9-12noon

Session 7

20th Jan

Sun

1-4pm

Guest: Cheryl Potter (Partner and Global head of Consumer, Permira) Pricing and Funding Structure of a LBO Case and CEO selection- Outcome of Exercise 1 and 2

Role play and presentation

L P Panel: “How to cut through the b*llsh*t in fund due diligence”

Due: Hard copy of Group Presentation from Session 7

Guests:

Session 8

23rd Jan

Wed

6-9pm

Andress Goh (MD, Head of Asia, Allianz Private Equity) Edmond Ng (Managing Partner, Axiom Asia) Kevin Yu (MD, Partners Group) Sam Robinson (Head of Global FofF, SVG Capital)

Special Topics in Private Equity 3

Due: 2-page review on KFB and SZD (Session3)

Class Outline (3) Session

Date

Day

Time

Agenda

Session 9

24th Jan

Thu

6-9pm

“Choosing a Management Team and Management Assessment” Guest: Elaine Yew (Managing Partner Singapore, Egon Zehnder) Henny Purnamawati (Head of Financial Services and PE, Indonesia)

Session 10

25th Jan

Fri

9-12noon

Case Study of Hony Capital Investments Guest: Xihong Deng (MD, Hony Capital)

Preparation

Due: 2-page review on KES (Session 5)

Final Due Diligence and Legal Due DiligenceScoping, output, interaction and value add Session 11

26th Jan

Sat

9-12noon

Guests: Tok Hong Ling (Partner Private Equity, PWC)

Lee Taylor (Partner, Clifford Chance)

Session 12

27th Jan

Sat

Special Topics in Private Equity 4

1-4pm

Summary and Wrap Up

Feedback forms

Class Outline (4) Speaker

Country

Sector

Session 3: Weijian Shan -Beijing

China/Korea

Financials

Session 4: Alex Emery -Hong Kong Willie Chow: -Hong Kong

Emerging Mkt-Asia Japan

TMT Consumer

Session 5: Omar Lodhi- Singapore Hanjaya Limanto- Indonesia

Pakistan Indonesia

Industrials Consumer

Session 6: Cheryl Potter- UK

UK

Consumer

Session 8: LPs

Asia

Session 9: Elaine Yew- Singapore Henny Purnamawati-Jarkarta

Asia

Session 10: Xihong Deng -Beijing

China

Session 11: Tok Hong Ling-Singapore Lee Taylor-Singapore

Asia

Special Topics in Private Equity 5

Various

Grading

Component Session 3, 5 cases (2 pages each X 3)

30%

Session 7 : Project Presentation and submission on Exercise 1 and 2

35%

Class discussion

35%

Special Topics in Private Equity 6

Weighting

NUS Business School MBA Programme January 16 – 26, 2013 (SEM 2, AY 2012/13) BMA5313D: Special Topics in Private Equity – 4 Module Credits / BIZ 1, Lecture Room 3-3 __________________________________________ Course Objectives 1. To provide a basic framework of the Private Equity industry. 2. To expand on the principles of Private Equity with particular focus on leveraged buy outs. 3. To bring to life these principles through a “practitioners guide” to the subject by the illustration of several case studies and panel discussions. The cases will be brought “alive” by visiting CEO’s and senior private equity executives who actually were involved in the transactions. The cases will cover a variety of situations – by geography, sector, size, and deal type. In addition, Limited Partners who are investors in Private Equity will also be invited to provide insight into the industry. 4. To link these real world discussions with a common framework of “Risk-Reward” analysis, with the objective of providing a useful tool for class participants that brings together the various disciplines taught during the entire MBA programme.

Course Leader The course will be led by Professor Veronica Eng ([email protected]). Prof Eng has over 25 years of experience in private equity at Permira. She is a founder partner of Permira. Permira is one of the largest and most experienced European based private equity firms with a global reach, operating from 12 offices across Europe, US and Asia. Since its beginning in 1985, the firm has managed over US$25billion in committed capital. Prof Eng serves on the Board of Permira, chairs the Permira funds’ Investment Committee and has oversight of the firm’s operation in Asia. Prof Eng has worked in wide ranging roles on many Permira transactions across sectors and countries including acquisitions, exits, restructuring as well as financings. Prior to joining Permira, Prof Eng was Head of Corporate Finance at Schroders in Singapore. Prof Eng has a BBA Hons (1st) from the University of Singapore.

TAs:

FRED XIA ZHIYIN (E: [email protected] ) UMER HABIB (E: [email protected])

CLASS SCHEDULE IN A SNAPSHOT (Updated 12 Dec 2012): All classes will be held in BIZ 1, Lecture Room 3-3, unless otherwise notified Session Date Day Time 1 16th Jan Wed 6-9 pm 2 17th Jan Thu 6-9 pm 3 18th Jan Fri 9-12 noon 4 19th Jan Sat 9-12 noon 5 19th Jan Sat 1-4 pm 6 20th Jan Sun 9-12 noon 7 20th Jan Sun 1-4 pm 8 23rd Jan Wed 6-9 pm 9 24th Jan Thurs 6-9 pm 10 25th Jan Fri 9-12 noon 11 26th Jan Sat 9-12 noon 12 26th Jan Sat 1-4 pm Note: Each 3 hour lecture will have a short break. Tea/coffee will be served during class breaks. Summary of Course Content & Grading Scheme (See “COURSE OUTLINE & GRADING” available on IVLE for more details): Students will be rigorously graded upon the QUALITY of their class participation and final case study reports. Students are advised not to select this course if they cannot make the commitment of this intensive course schedule, which requires a minimum of 15 hours of contact time per week over a 2-week period. This is also because the course will involve several extremely busy and highly-respected guest speakers from Europe and Asia who are generously donating their time by flying to Singapore to participate in this course. The course will additionally see the constant participation of Singapore’s leading PE firms’ and SWF’s private equity executives and other employees as observers and engagers in the classroom. Each lecturer will potentially assign some pre-readings and pre-assignments, which will be distributed via IVLE, except for the 3 HBS cases, which for copyright reasons will be made available via hard copy from the CAMRI Lab Office (BIZ 1, Room 3-6A) or Prof Joe Cherian’s Office (BIZ 1, Room 7-58). Evidence of your BMA5313D module registration on IVLE is a pre-requisite for case pick up (please bring along your identification / NUS Student ID). We hope the course will reward this effort with a stimulating series of discussions, and a good understanding of the subject matter for your future careers. Private equity is now a part of mainstream business, and will continue to remain as such in the future. Grading Scheme: * Class Participation (35%) * Project Presentation & Exercises (35%) * 3 write-ups of the HBS case studies (2 pages each, total weightage of 30%) 2