WIXLIB

10:30 Morning Panel Session 1Amphi MaagVenture Capital & EntrepreneurshipArisConstantinides is thefounder and Investment Directorof NBGI Ventures. Aris currentlyserves on boards of companiessuch as: Advanced CardiacTherapeutics, 2010 Perfect Vision,Endoscopic Technologies, EOSImaging, Dysis Medical Limited,Reverse Medical and SuperSonic Imagine. Arisstarted his career at structured products division ofBankers Trust. He has more than 14 years ofexperience with European venture capital andprivate equity, including with Deutsche Bank’s andCredit Suisse First Boston’s funds. He holdsMechanical Engineering degrees from ImperialCollege and MIT as well as an MBA from INSEAD.Andreas Schlenker is a GeneralPartner at Partech International.His focus is on investments inInternet services, digital mediaand E-Commerce in Europe.Andreas serves on the boards ofAvandeo, Qype, Secret Sales,sMeet and TVtrip. Prior to joiningPartech, Andreas was director of businessdevelopment for E-Mail Vision, a French emailmarketing solutions start-up, which went public in2006. Andreas was also a consultant for Bain,where he worked on projects with high tech andtelecomclients.Andreasreceivedhisundergraduate degree in Economics from UCBerkeley and he holds an MBA from INSEAD.Graziano Seghezzi is a Partnerinvesting in life sciences atSofinnova Partners. Previously,Graziano was principal at IndexVentures in Geneva, Switzerland.Before this, he worked forSofinnova Partners, identifyingnew investment opportunities inItalian pharmaceutical and medical devicecompanies out of Milan, Italy. Graziano began hiscareer as a biomedical researcher at New YorkUniversity’s School of Medicine. Graziano has adegree in genetics and microbiology from theUniversity of Pavia (Italy) and an MBA from theRSM, Erasmus University (Netherlands).Wolfgang Seibold is a Partnerat Earlybird Venture Capitaland a Board Member atGermanVentureCapitalAssociation BVK. Wolfgang has10 years of experience in hightech enterprises. He focuses ongreentechnologiesandservices. He is involved in several internationalstart-up initiatives, and is a board member ofSilicon Saxony and CTI Invest, Ubitricity and LightBlue Optics. Prior experience includes BCG andALCATEL. He holds a Dipl. Phys. (MSc equivalent)in semiconductor physics from University of Ulmand Newcastle upon Tyne and MBA from INSEAD.MODERATOR: Patrick Abouchalache of The PEGA Group has over 16 years ofexperience as entrepreneur, investor, and advisor. Patrick focuses on investments inhealthcare, tech, consumer, and retail sectors. He is the founder of The PEGA Group, aconsultancy focused on advising investment firms, family offices, entrepreneurs, andsenior industry executives. He previously worked as an investment banker in SalomonSmith Barney's Global Communications Group and its European M&A Group, and at IFC.Patrick received a B.S. in Economics from The Wharton School, cum laude, and an MBAfrom INSEAD. Patrick speaks French, Spanish and Arabic.10th Annual INSEAD Private Equity Conference5

10:30 Morning Panel Session 1Amphi PDistressed InvestmentsKarim Khairallah, MD, joinedOaktree in Europe in 2005. Priorto joining Oaktree, Karim cofounded Solidus Partners, aturnaround fund. Previously, hespent 4 years at General Atlantic.Prior experience includes J.P.Morgan Capital and LehmanBrothers International. Karim sits on the board ofStock Spirits Group, Campofrio Food Group, R&RIce Cream and Panrico. Karim received a B.Sc.degree in Economics from the London School ofEconomics and an M.B.A. from INSEAD.George Koulouris is the DeputyCEO of Marfin Investment Group(MIG) responsible for raising 5.2bn and creating largestinvestment company in SouthEastern Europe. He has 13 years ofexperience in investment bankingand private equity. Before MIG, heheld roles at UBS, CSFB and Deutsche. He ismember of MIG’s Exec and Investment Committeesand serves on boards portfolio companies. He holdsan MBA from INSEAD and First Class Honorsbachelor’s degree in Business Economics fromQueen Mary, University of London.coGeorgMadersbacherfounded Orlando ManagementAG. He has led more than 20transactions in various industries:manufacturing, consumer goods,healthcare, retailing, automotive,and IT. Prior to founding Orlando,he was part of GMM Active EquityAG, investment boutique and predecessor toOrlando. He spent 8 years with McKinsey. Georgholds a degree in mechanical engineering fromETH Zurich (Dipl.-Ing.) and an MBA from INSEAD.David Ross joined SankatyAdvisors in 2003.He is anExecutive Vice President and cohead of Sankaty’s London office.He is also a member of Sankaty’sMiddle Market Group andRestructuring team. Previously,David worked in InvestmentBanking at Credit Suisse First Boston focusing onM&A and Corporate Finance in the Technologysector. He received a B.A. from Harvard College.Doug Thomas is an ManagingDirector at Fortress InvestmentGroup and heads the overall European operationsof the Fortress Credit Funds. Doug sits oninvestment committees of Fortress’ CreditOpportunities family of funds. Prior to Fortress, hewas a SVP at the TCW Group where he managed aseries of private equity joint-venture fundsfocused on Asia, South Asia and North America.Doug holds a B.A. in International Relations fromTufts University and a Masters of InternationalFinance and Business from Columbia University.MODERATOR: Dominik Stühleris a corporate partner withKirkland & Ellis in Munich,focusing.on corporate law inGermany. After an apprenticeshipwith Hauck & Aufhäuser, Dominikgraduated from University ofRegensburg with master degreesin law and business. In addition, Dominik earned anMBA from Vlerick Leuven Gent ManagementSchool. Prior to K&R, he was a corporate associate inClifford Chance’s private equity team.10th Annual INSEAD Private Equity Conference6

Global Private Equity InitiativeFounded in 2009 and based at the Singapore campus, Global Private Equity Initiative (GPEI) is part ofINSEAD’s commitment to Asia and to the growth of private equity in emerging markets. Led by ClaudiaZeisberger, GPEI combines the school's research and educational capabilities with its alumni and globalprofessionals in the private equity industry. INSEAD sees a role to play by delivering original researchand insight for limited and general partners that channel growth capital to privately-held enterprises.GPEI’s research agenda flows from closely linking top scholars to the industry, and these ties help uscommunicate our findings in ways executives and MBA students can use. GPEI aims to help professionalsgenerate their own unique insights. GPEI also publishes a newsletter relevant to those interested inemerging markets. For more information, please visit insead.edu/gpeiRecent Activities: Publication of 4 major reports on emerging market private equity topics; shared with over 4,000industry professionals through our quarterly newsletter and presented at 5 industry conferencesMore than 20 new case studies written – all in co-operation with GPs in emerging marketsEvery academic year, more than 30 guest speakers engage with students & faculty on campus;all from top global private equity firmsCourses with projects which allow students to choose from over 100 company-sponsoredprojects, ranging from strategic topics such as investment strategies in specific industries orgeographies to functional topics such as the Value of in-house Operations TeamsGPEI plays an integral role in supporting IPEC’s annual private equity conferencesLatest Research:Study on PE Exits in China and IndiaThis report by INSEAD and LGT Capital looks closely into the exitsituation for private equity investments in Asia’s largest emergingmarkets of China and India.Brazilian PE: Moving Centre StageBrazilian private equity continues to attract the interest of LPs andcurrently ranks as one of the most attractive markets for futureallocations globally. The report published with PwC Brazil includesanswers from a survey of leading LPs and GPs and provides a broadoverview of the state of private equity in Brazil.Asian Private Equity: Will it deliver on its Promise? A Survey of Top LPs and GPsGPEI published a report with AXA Private Equity based on surveyswith leading LPs and GPs in Asian private equity. At its core weexplored the question: Has Asian private equity grown into a viableinvestment category for “sophisticated” institutional investors?10th Annual INSEAD Private Equity Conference7

11:45 Morning Panel Session 2Amphi ADriving Operational ExcellenceAntonio Capo is a Director inOperations Group of TPG Capital inLondon. He currently serves asvice chairman of Microgame andsupervises TPG’s investment inOntex. Prior to TPG, Antonio was aSenior Director at turnaroundmanagement firm A&M. Prior toA&M, he was with McKinsey, and served as SecondLieutenant in the Italian Army’s Logistic Corps.Antonio received a BSc. in Economics from BocconiUniversity, an MA in European Economic Studiesfrom the College of Europe, and an MBA fromStanford University’s Graduate School of Business.John Maloney, currently at AlixPartners, has over 20 years ofexperience in line management,strategic consulting and programmanagement in sectors includingconstruction, energy, packaging,beverages, government, financialinstitutions, and aerospace. Johnwas formerly a Principal at A.T. Kearney. He isEuropean Lead of Alix’s SG&A Cost Reductioncapability practice. Prior to Alix, John spent 10years in strategic and operations consulting at A.T.Kearney, KPMG and Unisys. Before this he wasFinancial Planning Manager for Unisys Europe.Stefaan Vansteenkiste is anMD and co-head of Alvarez &Marsal's U.K. Restructuringpractice. He brings 20 years ofexperience as general andfinancial manager. Beforejoining A&M, he worked in themulti-unit retail and themepark business both in the U.S. and Europe. He wasGeneral Manager of Six Flags Belgium and ZoneFinance Manager at Taco Bell. He was also afinancial manager at Atlantic Richfield, anAmerican oil company. He earned a bachelor'sdegree from the University of California, a MBAfrom the University of Michigan and an executivemaster's degree in interim management from theUniversity of Antwerp in Belgium.Alain Vourch (London) joinedKKR Capstone in 2004. Prior toKKR Capstone, Mr. ulting Group in Paris andLondon, and has in depthexperience in retail, consumergoods, industrial goods and business services. Healso led the relaunch of argusauto.com (automotiveportal for used cars in France) as co-founder ofArgus Interactive. At KKR Capstone, Mr. Vourch isinvolved with Maxeda (formerly Vendex KBB),Tarkett, Pets at Home, Van Gansewinkel andAmbea. He holds an M.Sc. from the EcolePolytechnique and Ecole des Mines de Paris,France. Mr. Vourch is fluent in English and French.MODERATOR: Michel Freund is a Managing Director on CVC's Operations Team. Hejoined CVC in 2009 after six years at McKinsey & Company where, as an AssociatePrincipal, Michel focused on operational and IT transformations mostly within financialservices back-offices, media and pharmaceutical industries. Prior to McKinsey, Michelserved as Vice President Sales and Marketing Americas at LocatioNet. Michel holds aMasters Degree in Commercial Engineering from Solvay Business School in Brussels aswell as an MBA from Harvard Business School.10th Annual INSEAD Private Equity Conference8

11:45 Morning Panel Session 2Amphi MaagEmerging MarketsTahira Dosani leads strategicprojects, partnerships andcommunications at LeapFrog, aprivate equity fund managerpioneering impact investing inemerging markets. Previously,Tahira was with Aga Khan Fundfor Economic Development andas Head of Corporate Strategyat Roshan. Tahira was previously with Bain, doingstrategic due diligence and growth planning forprivate equity. She holds an MBA from INSEAD andBAs in IR and Computing & Human Developmentfrom Brown University.Nick Luckock joined Actis in2010 and is a Partner based inLondon. Nick plays leadingrole in global investmentorigination and execution infinancialservicessector.Prior to Actis, Nick was Headof Private Investments atCambridge Place Investment Management.Previously, Nick was a Principal at Apax Partners.He also worked in both Australia and London forBCG. Nick has a BA in History and Politics and aBCom in Finance from the University ofMelbourne and an MBA with honors from INSEAD.Matteo Patrone, senior banker ofEBRD, supervises equity andquasi equity transactions inEastern Europe, Turkey, Russiaand Central Asia with a portfolioof 3.7bn and annual investmentsfor 750m. He is a member ofinvestment committee for SMEs.Prior to EBRD, Matteo was a MD of Finanziaria’sprivate equity arm. Prior to that he was a SeniorManager at Accenture. Matteo graduated cumlaude in Mechanical Engineering at GenoaUniversity and holds an MBA from INSEAD.Spyros Poulios is a ManagingPartner at Seminal Capital, aBeijing-based family office. Healso runs outbound investment,advisoryandfundraisingbusiness of Crescent Point. Hehas 15 years of experience ininvestment banking, businessdevelopment and investing from GE Capital andCSFB. He has been senior executive of a numberof service companies in the energy, financial, andtechnology sectors. Spyros holds a BA fromHarvard University and an MBA from INSEAD.Matthew Strassberg is a Partnerat Mid Europa. He leads theheathcaresectorandwasresponsible exit of Aster, thelargest PE exit in the CEE in 2011.Prior to Mid Europa, he was aninvestment banker with MerrillLynch in London and with JPMorgan in London and in New York. Previously, hewas with TLC Capital Partners, a New York buy-outfirm. Matthew holds a B.A. in Economics from theUniversity of Chicago and an M.B.A. from INSEAD.MODERATOR:ClaudiaZeisberger is an INSEADAffiliate Prof. of DecisionSciences, Entrepreneurship& Family Enterprise andleads Global Private EquityInitiative at INSEAD. Sheteaches MBA, EMBA andmultiple Exec Ed programs, being 3-year “Dean’sCommendation for Excellence in MBA Teaching”winner. In her 18 years in Asia, she has workedwith clients in China, India, and Southeast Asia.10th Annual INSEAD Private Equity Conference9

11:45 Morning Panel Session 2Amphi PEuropean Middle MarketsCedric Abitbol is an MD of 21Centrale Partners. He managesinvestments, identifies businessopportunities, and build-ups. Inaddition to his Paris position,Cedric heads the Geneva officeand also coordinates global IR,transversal best practices, andinternational development for the 21 group. Cedricbrings 15 years of experience in private equity. Heworked as Director of Private Equity at Capstone,VP of Private Equity at Unigestion, and as afinancial analyst.Hans Oerlemans is InvestmentDirector at Waterland. Hans hasover 15 years of experience inprivate equity, strategy consultingand line management. Prior toWaterland, Hans worked for ValueEnhancement Partners, a turnaround investor. Previously, heworked as a consultant for McKinsey and also withCorus and BHP-Billiton in senior line managementpositions. He holds an MSc from Delft University(Aeronautical Engineering) and an MBA withdistinction from INSEAD.Rod Richards joined GraphiteCapital in 1986. In 2001 he ledthe management buy-out ofGraphite Capital from theForeign & Colonial Group. HepreviouslyworkedforMcKinsey & Co and for Bell &Howell Limited. He has a firstclass degree in Politics, Philosophy and Economicsfrom Oxford University and an MBA with distinctionfrom INSEAD.George Swirski is Co-Founderand Managing Partner of AbrisCapital Partners, a privateequity fund focusing on CentralEurope. Prior to Abris, Georgewas a partner in Advent’sleadingCentralEuropeanpractice and member of theirCentral Europe Investment Committee. In the1990s, he headed PepsiCo’s Frito-Lay operations inPoland and was closely involved in turnaround ofE.Wedel S.A. Prior to PepsiCo, George was aconsultant with Bain. He received an MBA from theWharton School and is a graduate of LSE.Denis Tafintsev is Partner ofHorizon Capital. He leads thecompany'sinvestmentsinfinancial and IT sectors of Ukraine,Belarus and Moldova. He hasextensiveexperiencewithfinancial institutions in the regionfrom his previous work atMcKinsey. Denis received an MBA from StanfordGraduate School of Business, BA and MA degreesfrom the School of Economics in Moscow, MSdegree from Humboldt University of Berlin.MODERATOR: Nicolas Lanel isresponsible for UBS' Europeansecondary market advisory practicewhich he established in 2007. Sinceinception, UBS' Private Funds Grouphas advised on over 70 secondarytransactions globally, representinga total of approximately 30 billionof commitment value. He started his career withPAI and, prior to joining UBS, spent 9 years in theM&A group of Deutsche Bank in London and NewYork. Nicolas graduated from ESCP-Europe.10th Annual INSEAD Private Equity Conference10

INSEAD Faculty PublicationsBrief Description: In TheInnovator’sDNA,authorsJeffrey Dyer, Hal Gregersen,and bestselling author ClaytonChristensen build on what s develop skills tomove progressively from ideato impact.By identifying behaviors of world’s bestinnovators, the authors outline five discovery skillsthat distinguish innovative entrepreneurs andexecutives from ordinary managers: perimenting.Once you master these competencies, the authorsexplain how to generate ideas, collaborate toimplement them, and build innovation skillsthroughout the organization.Brief Description: In Gurusand Oracles, Miklos Sarvarydescribes information industry- the far-flung universe ofcompanieswhosecorebusiness is to sell informationto decision makers. Thesecompanies include such longestablished firms as ThomsonReuters as well as newer,dominant players like Googleand Facebook. Sarvary highlights the specialcharacteristics of information and knowledge andanalyzes the unusual behaviors of the markets forthem. He shows how technology contributes to thespectacular growth of this sector and how newmarkets for information change our economicenvironment. Sarvary points out, unreliableinformation may be more expensive than reliableinformation; information sellers may be better offinviting competitors into their market because thismay allow them to increase their prices; andcompetition may lead to increased media bias.Brief Description: Ten yearsafter the worldwide bestsellerGood to Great, Jim Collinsreturnswithanothergroundbreaking work, thistime to ask: Why do somecompaniesthriveinuncertainty, even chaos, andothers do not? Based on nineyears of research, buttressedby rigorous analysis andinfused with engaging stories, Collins and hiscolleague, Morten Hansen, enumerate theprinciples for building a truly great enterprise inunpredictable, tumultuous, and fast-moving times.The authors studied companies that rose togreatness—beating their industry indexes by aminimum of ten times over 15 years—inenvironments characterized by big forces andrapid shifts that leaders could not predict orcontrol.Brief Description: In TheHedgehog Effect, Manfred Ketsde Vries presents the case forleadership group coaching asan experiential training groundfor learning to function as a highperformance team. His coachingmodel, incorporating living casestudies, has been developedover more than 20 years.The book begins with an in-depth analysis of whatteams and groups are all about. The intricacies ofleadership coaching are illustrated with elaborateexample of a team coaching intervention. In PartTwo, the author applies a psychodynamic lens tothe dynamics of teams and groups, taking a closelook at relationship patterns, how groups evolve,and the phenomenon of the group-as-a-whole. PartThree takes a more systemic perspective,addressing the challenges that change processespose for people in organizations, and how to createbest places to work.10th Annual INSEAD Private Equity Conference11

14:15 KeynoteAmphi AJoseph Schull is a Managing Director and Head of Europe, based in the Londonoffice of Warburg Pincus. He joined Warburg Pincus in 1998 and has beenresponsible for the firm’s TMT (technology, media and telecommunications)investments in Europe as well as its investment activities in Emerging Europe.During 2010, he was made responsible for the firm’s European operations.He holds a B.A. and M.A. from McGill University, Canada where he studiedpolitics, philosophy and economics. Joseph also received a D.Phil from OxfordUniversity, where he was University Lecturer from 1990 to 1991. Prior to joining WarburgPincus, he was Deputy Director of the International Affairs Program at the Ford Foundation.Joseph has been involved in Warburg Pinc

MBA and EMBA programs as well as in open-enrollment executive programs such as the Advanced Management Program. He is involved in many Company Specific Programs and has directed senior management programs for Cisco and CEMEX. Conni Jonsson was part of the original team that founded EQT Partners AB in