Learning from Practitioners: Practical Considerations for Securing LP Commitments from a DFI
This program is open to EMPEA GP members exclusively.
23 September 2020, 8:30-10:00 EDT | 13:30-15:00 BST | 20:30-22:00 HKT
At a time when many institutional investors are taking a more conservative approach to committing capital globally, DFIs play a critical role as LPs in EM private equity funds. This practical training program will look inside the process for securing commitments from DFIs and preparing fund managers with a step-by-step approach. Dedicated time will allow for interactive participation and questions from attendees.
Part I: Navigating the DFC’s New Equity Financing Process
This module will include an in-depth conversation with the U.S. International Development Finance Corporation (DFC) on their new equity program, including program size and objectives, eligibility, and preferred economic or governance terms.
- William Pearce, Investment Funds Group, DFC
- Matthew Dickman, International Counsel, Debevoise & Plimpton
Part II: How DFIs Co-Invest with GPs
This module will address the conditions and processes required from different DFIs in order to co-invest with fund managers.
- Enrico Canu, Head of Unit, Equity, European Investment Bank (EIB)
- Irina Manea, Senior Investment Officer, FMO
- Jochen Von Frowein, Director Equity Latin America, DEG
- Geoffrey Burgess, Partner, Debevoise & Plimpton
Investment Funds Group
William (“Bill”) Pearce, with the DFC since 2005, has held a number of investment and management roles with the agency, working predominantly in the Office of Investment Funds (OIF). Within OIF he originates new fund opportunities in numerous regions and sectors, managing the entire investment process to provide capital to private equity funds. Bill has also worked in DFC’s Housing Programs group, executing direct loans for housing and mortgage finance projects.
Bill’s prior experience includes: emerging market direct investments with EMP Global, manager of the AIG Infrastructure Funds; U.S. direct investments with W.R. Grace & Co., and then with EXOR America, the U.S. office of the Agnelli family. Bill also worked in a line capacity with a portfolio company of EXOR, ICF Kaiser International, and as a High-Yield Bond Analyst with Oppenheimer & Co. Bill received his MBA from the Darden School of Business and a BS.E from the Wharton School.
Head of Equity Unit
European Investment Bank
Enrico is the Head of Unit, Equity, at the EIB focusing on investments in private equity and venture capital funds outside the European Union. Previously, co-head of environmental and infrastructure fund investments. Prior to EIB, Enrico held positions at the European Investment Fund focusing on investments in mid-market and venture capital funds. He started his career working at a European based private equity fund focusing on buyout and growth capital investments. Executive MBA from Kellogg School of Management and WHU Otto Beisheim School of Management, Master in Merchant Banking from LIUC, University Carlo Cattaneo, and a degree in Economics from the University of Siena.
Senior Investment Officer
Irina is experienced private equity and venture capital investor across developed and emerging markets. Irina currently works at FMO, the Dutch development bank, where she is responsible for leading and executing private equity and venture capital investments as well as monitoring a diverse existing investment portfolio in Africa and Latin America. She is also an advisor to the FMO Ventures Program, which aims to help develop emerging markets by investing in early-stage technology-enabled innovative business models. Previously, she was Investment Manager with PGGM Private Equity, a global investor with more than EUR 10 billion private equity assets under management. In this role, she closed and monitored several fund investments and co-investments across Europe, US, and Emerging Markets. Irina received her undergraduate degree from the University of Economic Studies in Bucharest and her MSc/MIF degree from Amsterdam Business School.
Jochen von Frowein,
Director Equity Latin America
Jochen von Frowein, Director Equity Latin America at German development bank DEG, heads the team responsible for both direct investments and commitments to private equity and mezzanine funds in Latin America. The team is based in Cologne, Mexico City, Sao Paulo, and Bogota.
Previously, he focused on Project Finance in Latin America and, most recently, on Equity and Mezzanine in Africa. Prior to DEG, Jochen worked for Roland Berger Strategy Consultants in Germany and Nigeria and held various roles in Corporate Banking for BHF-Bank, Dresdner Bank, and Commerzbank.
Jochen holds a degree in business administration from Frankfurt School of Finance and Management, a Master’s Degree in African Studies from SOAS (London), and is a CFA Charterholder.
Debevoise & Plimpton
Geoffrey Burgess is a corporate partner with a broad international practice in Europe (including Russia), Africa and India, with particular focus in the private equity, TMT, health care and aviation industries.
Mr. Burgess joined the firm in 1997 and has been resident in the London office since 1999. Mr. Burgess co-leads the India and Africa practice groups at Debevoise and is also a leader in the firms Alternative Asset and Secondary Investments Group, with a focus on GP replacement projects. He currently serves as Co-Chair of The African Private Equity and Venture Capital Association (AVCA) Legal and Regulatory Committee. Mr. Burgess is a member of the London office’s pro bono committee and is a volunteer at law clinics for social entrepreneurship at unLtd and for disability benefits in Hammersmith & Fulham.
Debevoise & Plimpton
Matt Dickman, a London-based international counsel and member of the firm’s Funds/Investment Management Group, advises on the formation, management, and reorganization of private investment funds. Mr. Dickman is also a leader in the firm’s Alternative Asset and Secondary Investments Group, where he regularly advises fund sponsors and investors on GP staking transactions, including internal reorganizations and internal economic and governance arrangements, as well as seed investments in emerging fund sponsors and secondary transactions.
Mr. Dickman represents a broad range of international private equity and other private investment funds and their sponsors, including recent experience advising technology and venture capital funds.