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New Normal in Global Private Equity
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Speakers
Join industry leaders at the 7th annual Thunderbird Global Private Equity Investing Conference as they shed light on global private equity’s most relevant issues. The following experts are featured speakers at this year's conference:
Lena Booth, Ph.D.,
Professor of Finance, Thunderbird School of Global Management
Dr. Lena Booth is an Associate Professor of Finance in the Department of Global Business at Thunderbird School of Global Management, U.S.A., where she teaches Corporate Finance, Global Financial Management, and Advanced Topics in Finance such as Global Private Equity. She served as the first executive director of the Thunderbird Private Equity Center. Born in Malaysia and educated in Singapore and the U.S., Dr. Booth speaks and writes English, Chinese, and Malay, and speaks a few Chinese dialects.
Dr. Booth’s teaching and research interests have taken her all over the world. She travels frequently to many cities in the United States and Canada, and to Asia and Europe. She has presented her research and taught executives in France, Switzerland, Ireland, Italy, Czech Republic, China, Hong Kong, Taipei, Korea, Japan, Singapore, and Malaysia. Dr. Booth’s excellence and dedication in teaching had earned her several recognitions. She was voted by the Thunderbird MBA Graduating class as the outstanding core faculty member in 2006. In 2007, she was voted as the best professor in the Thunderbird Global MBA On-Demand program by its graduating class. In 2008, she was voted by the EMBA class of LG executives as their best professor.
Besides teaching in the MBA and EMBA programs at Thunderbird, Dr. Booth also teaches in the corporate learning programs. She has participated in programs with multinational companies such as Exxon Mobil, LG Electronics (Korea), and SK Corp. (Korea). She has also taught in the Project Artemis program, a unique business-skills training program that aims to build the entrepreneurial skills of promising Afghanistan businesswomen.
Dr. Booth’s research interests lie mainly on capital raising and security issuance by firms. Her primary focus is on capital raising through initial public offerings and through commercial banks. Her research has appeared in several distinguished peer-reviewed journals such as Journal of Financial Economics, Journal of Money, Credit and Banking, Economic Review, Review of Financial Economics, Journal of Financial Research, Journal of Applied Finance, Financial Review, and Journal of Applied Management and Entrepreneurship. She won the Thunderbird Faculty Research Award in 2005. She is currently serving on the editorial review board of the Thunderbird International Business Review.
Dr. Booth holds a Ph.D in Finance from Arizona State University, an MBA from Northern Arizona University and Bachelor of Business Administration from the National University of Singapore. She has been a faculty member at Thunderbird for the last 14 years.
SUSAN BOEDY ‘02
Principal, Knightsbridge Advisers, LLC
Susan joined Knightsbridge in early 2010, as a Principal focused on investor relations and marketing. As former Director of the Thunderbird Global Private Equity Center (TPEC), she brings Knightsbridge her strong relationship-building skills and a broad industry network, as well as a deep understanding of the global venture industry.
From 2006 to 2009 Susan provided leadership to the Thunderbird Global Private Equity Center as its Director. TPEC is a thought-leadership platform developed by the Thunderbird School of Global Management to advance knowledge on the key issues and trends facing global private equity. Prior to that, from 2004 to 2006, Susan was a partner in Venture Archetypes, LLC, a strategic advisory firm that works with emerging technology and life science companies which seek venture capital backing. Her background also includes professional assignments with Intel; the German Ministry of Economics and Labor; Roland Berger Strategy Consultants; and the United Nations, part of a three year stint living and working in Mongolia. Susan is a frequent featured speaker at global private equity conferences such as the Federal Reserve Bank's Private Equity Conference and the Annual Women's Private Equity Summit. Susan holds an MBA in International Management from Thunderbird School of Global Management where she received the highest honor awarded to a single graduate, the Barton Kyle Yount Award. She also has a BA, magna cum laude, from Drake University.
David Brief
Chief Investment Officer
Jewish Federation of Metropolitan Chicago
David Brief is the Chief Investment Officer for the Jewish Federation of Metropolitan Chicago. In this role he oversees all aspects of the organization's endowment and pension fund investments, including a $600 million Pooled Endowment Portfolio that combines assets belonging to several dozen other Jewish philanthropic entities.
Specific areas of responsibility include the setting of investment objectives, distribution policy, asset allocation strategy, selection and monitoring of outside advisors and managers, performance analysis and reporting, and oversight of the custody and administration of Federation assets.
Prior to joining the Jewish Federation in 2002, David spent eleven years as an investment consultant for CRA RogersCasey, Ennis Knupp + Associates, and Ibbotson Associates. He also served as Director of Research for the former two firms. Throughout his career, David has authored numerous research papers and has been a frequent speaker at industry conferences on a wide range of investment topics. He received a B.A. in economics from Cornell University, an M.B.A. with honors from the University of Chicago, and also holds the Chartered Financial Analyst designation. David lives in Highland Park, IL, with his 12-year-old son, Sam, and devotes much of his spare time to rock guitar and songwriting.
ÁNGEL CABRERA
President, Thunderbird School of Global Management
As president of Thunderbird School of Global Management, Ángel Cabrera, Ph.D., guides a truly global learning network with operations in the United States, Latin America, Asia and Europe, including Russia. The school is regarded as the world’s leading institution in the education of global managers, holding the No. 1 ranking in the Financial Times, U.S. News & World Report and The Wall Street Journal/Harris Interactive survey of corporate recruiters.
Dr. Cabrera, who is a citizen of Spain, is a world-renowned global leader and management educator whose work and expertise has been recognized and tapped by top global organizations including the World Economic Forum and the United Nations. The World Economic Forum has named Dr. Cabrera a “Global Leader for Tomorrow” and appointed him to the World Economic Forum of Young Global Leaders. Along with being a regular attendee of the World Economic Forum held Davos each year, Dr. Cabrera has been named the Founding Chair of the WEF’s Global Agenda Council on Promoting Entrepreneurship.
Dr. Cabrera presently serves as a senior adviser to the UN Global Compact Office on Academic Affairs. In that role, he chaired a taskforce to develop the “Principles for Responsible Management Education,” which serve to strengthen the role of business schools in promoting global corporate citizenship. The taskforce presented the principles at the UN Global Compact Leaders Summit in July 2007. He also playsa key role in designing the Global Compact Academic Network’s strategy, serves as a Global Compact ambassador to academic organizations, and helps promote its activities around the world and as they relate to education forums like the World Economic Forum.
An outspoken advocate of corporate social responsibility and managerial professionalism, and in 2008 received the prestigious honor of being named a Henry Crown Fellow by the Aspen Institute. He is a frequent speaker at prestigious international forums. His viewpoints have been featured by the Financial Times, The Wall Street Journal, BusinessWeek, CNN, CNN International, CNN Español and a number of other regional and international media.
Dr. Cabrera is the former dean of the Instituto de Empresa, one of Europe’s leading business schools, and in 2004 was showcased by BusinessWeek as one of 25 “Stars of Europe.” He is an active member, a current or past board member of several international organizations including AACSB International, EFMD-EQUIS, the UN GlobalCompact, the Iberoamerican Academy of Management, the Georgia Institute of Technology, ESSEC, the Greater Phoenix Leadership and the Future Trends Forum in Madrid.
Dr. Cabrera earned his Ph.D. and MS from the Georgia Institute of Technology, which he attended as a Fulbright Scholar, and a BS and MS in Engineering from Madrid Polytechnical University, Spain’s premier Engineering school.
Tom Cawkwell
Partner, Albourne Private Equity
Mr. Cawkwell is a Partner in Albourne’s Private Equity team and mainly covers buy-out and special situations opportunities in the US, as well as assisting clients with portfolio construction and manager selection. He joined the firm in 2007.
Before joining Albourne Mr. Cawkwell worked in the Private Equity team at CalSTRS for five years where he assisted in the investment and management of over $5bn in a range of Alternative Investment strategies. He has represented CalSTRS on a number of advisory boards including those of Blackstone, Carlyle, Cerberus, Welsh Carson, TA Associates, CD&R and Onex.
Previously Mr. Cawkwell worked with financial services firms Coda Corporate Services and Magellan Consulting, both based in London.
He holds an MBA from University of California, Davis and BA History from King’s College, University of London.
PAWAN CHATURVEDI
Partner & Head of Asia Pacific, Altius Associates
Pawan Chaturvedi is a Partner and Head of Asia Pacific. He is primarily responsible for investments and operations in the region. In addition, Pawan has considerable experience with growth equity and venture capital in North America and Asia. He is a member of Altius’ Policy Committee and Investment Selection Committee. Pawan joined the firm in 2005, and has 10 years of private equity experience.
Prior to joining Altius, Pawan held positions at Sprint Corporation. Previously, he was a faculty member at the University of Kansas with appointments in the departments of Radiology and Electrical Engineering & Computer Science. He has an MSc in Physics from the Indian Institute of Technology; a PhD in Electrical Engineering from the University of Kansas, and an MBA from the Wharton School of the University of Pennsylvania. Pawan speaks English and Hindi.
JOHN COOK '79
Chairman, Rock Lake Associates
Chairman Emeritus, TPEC Advisory Board
John Cook is Chairman of Rock Lake Associates, a Swiss-based strategic advisory and capital formation group focused on private equity, real estate, direct transactions and hedge funds. Rock Lake has 20 partners located on four continents who advise or execute on a variety of transactions, usually in the $50-$500 million range.
An American national based in Europe for 30 years, John has held senior positions in business development, marketing, finance and asset management. From 1980 to 1995 he was Associate Marketing Director with International Harvester covering the Middle East; Vice President of the family office Univestors S.A.; Senior Financial Consultant with Merrill Lynch International; and Director of Business Development with Security Pacific Merchant Bank. 1995 he co-founded W.J. Hopper & Co Ltd, a London-based investment bank active in private placements, and in 2001 co-founded closely held ACS Venture Capital Partners in Vienna, and a closely held fund of hedge funds in Alaska. John is a member of the Advisory Boards of the London Private Equity Futures and Options Exchange and Recipco (a non-monetary global capacity exchange). He is an active member of the Swiss Venture Capital Association, the European Venture Capital Association, the American Club of Zurich and the Thunderbird Alumni Association.
John founded the Thunderbird Global Private Equity Center (TPEC) in 2004 and chaired its Global Advisory Board until 2009, when he was nominated Chairman Emeritus. TPEC is a globally recognized thought leadership platform for investors, business and government leaders, faculty, alumni and students focused on promulgating best practices in global private equity. The Center undertakes leading edge research, hosts roundtables and conferences globally, produces quarterly and annual publications and arranges executive training programs for private and public organizations and enterprises.
In 1982 John founded the Thunderbird European Alumni Association, and served as its Chairman until 2000. He was also co-founder of global board of the Thunderbird Alumni Association, and is an active member of the Thunderbird Global Council. John has been awarded the Thunderbird Jonas Mayer Award, Outstanding Alumnus Award and the Global Marketing Award. John has a BSIM cum-laude in Industrial Management (1974) from the Krannert School at Purdue University, and an MBA in International Management from Thunderbird School of Global Management (1979).
Kirk Dizon
Managing Director, Hall Capital
Kirk C. Dizon is a Managing Director at Hall Capital Partners LLC and Co-Head of the Private Equity group. The firm's Private Equity program covers buyout, growth, distressed, credit, venture capital, and other private equity strategies on a global basis.
Prior to joining the firm in 2006, Mr. Dizon practiced law at Cooley Godward LLP where he was a partner in the Fund Formation group. As a lawyer, his practice was concentrated in the formation, representation, and review of U.S. and international venture capital, private equity, hedge, and other investment funds.
Mr. Dizon currently serves on the Advisory Committees of several private equity funds both in the U.S. and abroad. He is a frequent speaker at industry conferences and events and has served on the Boards of Directors for several Limited Partner associations and non-profit organizations.
Mr. Dizon earned a B.A. in Economics from Pepperdine University, a J.D. from Loyola Law School, and an LL.M. in Taxation, with distinction, from Georgetown University Law Center.
CHRIS DOUVOS
Co-Head, Private Equity, The Investment Fund for Foundations
Chris Douvos joined The Investment Fund for Foundations (TIFF) in 2004 and founded its Palo Alto, California office in 2008. At TIFF, Chris has been jointly responsible for approximately $1 billion in capital commitments to private equity funds. He sits on over a dozen venture capital and LBO fund partnership advisory boards.
Prior to joining TIFF, Mr. Douvos worked on Princeton University's endowment team, where his duties included selection and evaluation of external managers, risk analysis, and asset allocation modeling. Previously, he was at Monitor Company working as a strategy consultant to Fortune 500 clients and as an analyst for Monitor’s principal investing activities.
Mr. Douvos is a regular speaker at industry conferences and has lectured on private equity-related topics at several business schools. In his spare time, he authors an acclaimed blog, www.SuperLP.com.
A CFA charterholder, Mr. Douvos received his BA with distinction in history from Yale College and his MBA from the Yale School of Management.
JAVIER ECHARRI
Former Secretary General, European Private Equity & Venture Capital Association (EVCA)
Javier Echarri is Secretary General of EVCA, the European Private Equity & Venture Capital Association. EVCA was founded in 1983 and has more than 1,400 members in 60 countries.
Mr Echarri joined EVCA in 1999, becoming its fourth Secretary General in 2000. Previously he was the Director of both Retail and Institutional Banking at ARGENTARIA bank (now BBVA) from 1995.
Mr Echarri began his career in the automotive and specialist engineering industries. He has also held the position of Secretary General at the Spanish Chamber of Commerce for Benelux.
Current engagements include non-executive board positions at the European Federation of Junior Enterprises (JADE), the Asia Pacific Venture Capital Association, buyout firm GED, and the secondary exchange platform Triago X.
He is a graduate in Economics and Business Studies from the University of Deusto in Spain and has a Post-graduate degree in European Union Economic integration from the University of Amsterdam.
GUSTAVO EIBEN '04
Head of North America Investor Relations, Aureos Capital
Mr. Eiben is the head of North America investor relations of Aureos Capital. Aureos is a global emerging market private equity manager focused on small to mid-market transactions across Africa, Asia and Latin America. As head of North America IR, Mr. Eiben is responsible for establishing and maintaining relationships with existing and potential investors, and for developing new business and products that fit Aureos’ overall global strategy. Prior to Aureos Capital, Mr. Eiben was a member of the Alternative Investments Group at J.P. Morgan Private Bank raising and investing capital in third-party private equity funds. Prior to that, he was the head of fundraising and business development at Schroeder Ventures US and before that, a member of the UBS Private Equity Funds Group; the placement arm of the bank. Mr. Eiben started his career in the Mergers and Acquisitions group at PricewaterhouseCoopers in Buenos Aires, Argentina.
Mr. Eiben received his MBA degree from Thunderbird, the Global School of Management and his BA degree from Universidad Nacional de Cordoba, Argentina.
KURT GEIGER
Chairman, TPEC Advisory Board
former Head of Financial Institutions, European Bank for Reconstruction and Development
Mr. Geiger has 30 years of international experience in Banking and an extensive track record in equity investments gained during a career in major international banking groups (Chase, Midland Montagu, HSBC, EBRD) with work experience in Frankfurt, London, Hong Kong, New York and Eastern Europe.
From 1993 onwards he worked with the EBRD, an IFI established to promote transition from centrally planned economies to market economies. He is Head of the Financial Institutions Group with a portfolio of $5 billion, and a main driver in building an effective and functioning financial services industry in Central and Eastern Europe. Under his leadership the EBRD invested in over 120 banks, insurance companies and pension funds in 27 countries and also was instrumental in building a private equity industry in the region where the Bank is a core investor in 90 equity funds. Mr. Geiger has been actively involved in many of these transactions and has an excellent reputation as a successful deal maker. He has overseen over 300 equity investments in the region over the past 12 years.
Previously he served as Managing Director with Midland Montagu/HSBC in London from 1989-1990, where he had regional management responsibilities for Europe and later MD International at Midland PLC. Before that, he spent 15 years with Chase Manhattan with postings in Europe, the USA and Asia. He covered many aspects of international finance in different markets with responsibility for large corporate relationships, project finance, corporate restructuring, turnaround, M & A and investment banking.
He served on many Boards such as Trinkaus and Burkhardt Germany, Pekao Poland, Budapest Bank, Hungary (Vice-Chairman of Board of Directors), all listed companies and equity funds such as Advent International and First NIS Russia (listed).
Mr. Geiger has a Ph.D. in Law from Innsbruck University in Austria and a Post-Graduate Degree in International Finance from the College of Europe in Belgium. He is bi-lingual in English, German and speaks also Spanish and French. He is married with two daughters.
Gary Gibbons, Ph.D.
Academic Director, TPEC
Visiting Professor, Thunderbird Walker Center for Global Entrepreneurship
Gary Gibbons, Ph.D., visiting professor of entrepreneurship at Thunderbird School of Global Management, is an expert in investing and corporate finance with extensive experience in portfolio management, securities valuation, financial modeling, and financial planning and evaluation in entrepreneurial firms.
Dr. Gibbons is a Principal with The Coleridge Group, an Investment Advisory Firm in Phoenix, Arizona. He has accumulated a diverse range of experience, including his management at various times of stock portfolios for Physician’s Mutual Insurance Co., Home Federal Bank and the Painwebber Equity Trust; for the Baker and Kellogg families; in addition to numerous individuals in the sports and entertainment industries.
Additionally, Dr. Gibbons has managed fixed-income portfolios organizations including the Bank of Bermuda, the Agyros Foundation and Imperial Mortgage. His extensive corporate background includes work with Houlihan Lokey Howard and Zukin Investment Management Inc.; Uni-Net Inc.; Pacific Midwest Gas Co; Richmark Corp.; Century Technology and US Sports Co.
Among his other business-related activities, Dr. Gibbons has served as an expert witness or expert consultant in numerous legal proceedings. He has been engaged by well-known national and regional law firms, public agencies, and Employee Retirement Income Security Act (ERISA) trusts and their boards of trustees, as well as securities-brokerage firms and their clients. His legal engagements have been applied in support of specific tax or regulatory positions, in civil litigation and in support of arbitration or mediation proceedings. Dr. Gibbons earned his Ph.D. in business administration – with emphasis in strategy and finance – at Claremont Graduate School of the Peter F. Drucker Graduate School of Management. He received his MS in business administration from California State University, and he earned his BS in business administration at the University of Arizona.
He is a member of Beta Gamma Sigma, a scholastic honor society for collegiate schools of business, Phi Beta Delta, a scholastic honor society for international scholars, the Los Angeles Society of Financial Analysts, the Phoenix Society of Financial Analysts and the National Federation of Municipal Analysts.
JOHN GRIFFITH
Treasurer & CFO, Bryn Mawr College
John has served Bryn Mawr College as Chief Financial Officer (CFO) and Treasurer for five years.
Bryn Mawr is one of the world's most distinctive, distinguished colleges. Every year 1,300 undergraduate women and 400 graduate students from around the world gather on the College's historic campus to study with leading scholars, conduct advanced research, and expand the boundaries of what's possible. Since its founding in 1885, the College has maintained its character as a small residential community which fosters close working relationships between faculty and students. The faculty of teacher/scholars emphasizes learning through conversation and collaboration, primary reading, original research and experimentation.
John oversees the financial operations of the College, including the operating budget, the capital budget and the endowment. He provides strategic analysis and advice to the Board and to administrators on financial issues. He works with the College's endowment consultants and the Board's Investment Subcommittee to manage the College's endowment. The CFO works closely with appropriate committees, including the faculty Committee on Academic Priorities and the Committee on Faculty Welfare, and convenes the Campus Budget Committee of the Council on Institutional Priorities.
John received his M.S. in Finance from Bentley College in 1996 and his undergraduate degree in Business Administration from The Whittemore School of Business and Economics, University of New Hampshire, in 1987. He earned his CPA in 1989.
Previous to joining the Bryn Mawr community in September 2005, John worked in various financial capacities at the University of New Hampshire system for 15 years. For eight years he served as the Assistant Vice President for Financial Planning and Budgeting. From 1987 to 1991, John was a Senior Associate at Coopers & Lybrand, Manchester, New Hampshire.
Joshua Gross
President, Mill Creek Capital Partners
Josh serves as President of Mill Creek Capital Advisors, LLC, and was a co-founder of the firm in 2006. He serves on Mill Creek Investment Committee. Prior to co-founding MCCA, Josh was a Principal at Hirtle, Callaghan & Co., representing the firm for eight years in the Mid-Atlantic region. Josh also was a member of the Investment Policy Committee, which governed the firm’s asset allocation recommendations and manager selection. Previously, Josh worked at Quantex Microsystems, and he served active duty in the United States Navy aboard the carrier U.S.S. America (CV-66). Josh earned a B.A. from Rutgers University and an M.B.A. from The Pennsylvania State University. Josh previously served on the board of Boston Conferencing, now known as Peach New Media (Marshfield Hills, MA). Josh currently serves on the Board of Overseers of Albert Einstein Healthcare Network (Philadelphia, PA), a 1,200 bed network with over 7.000 employees. Josh also currently serves as Vice President of the Board of Directors of the Hillside School (Marlborough, MA), chairing the Investment Committee and as a member of Hillside School’s Executive Committee.
RAY HAARSTICK
CEO and Founder, Relevant Equity Systems, Inc.
Ray Haarstick oversees the day-to-day operations of Relevant Equity Systems, a leading provider of back- and front-office software to leading global Private Equity firms. Since launching Relevant EquityWorks 12 years ago, the company's system has been implemented for more than 240 customers headquartered in 20 countries.
Mr. Haarstick holds dual Bachelor of Science degrees in management and computer science from Worcester Polytechnic Institute (WPI). Before founding Relevant 24 years ago, Ray worked for a network design and econometrics firms.
CHRISTIAN HINZE
Christian Hinze is Head of SRPEP, Co-Head Operations and a member of SRPEP’s board of
directors and of the Investment Committee.
Christian Hinze has been working in alternative investments with a focus on private equity since he joined Swiss Re Asset Management in 2004. He has been a senior member of the
Direct Private Equity team and has been responsible for the execution of various strategic and private equity transactions in Europe and the US with a volume of more than CHF 500 million.
Christian has been a voting member of Swiss Re’s Alternative Investment Committee (AIC) since 2006, overseeing transactions and portfolio management in direct and indirect private equity, hedge funds and real estate. During his time with Swiss Re, Christian was also responsible for finance and operations of all alternative asset classes and has been Head of Real Estate during 2009, responsible for a portfolio of more than CHF 2 billion.
Before joining Swiss Re, Christian Hinze gained more than ten years experience in transaction advisory and public accounting at Deloitte and Andersen. He advised private equity firms and strategic buyers in purchase and sale transactions and was responsible for a diversified portfolio of audit and advisory clients.
Christian Hinze is a Swiss Certified Public Accountant (CPA) and has a degree in Economics and Business Administration from the University of Applied Sciences Zurich.
ROBERT HISRICH
Director, Thunderbird Walker Center for Global Entrepreneurship
Professor Hisrich received his B.A. from DePauw University, his M.B.A. and Ph.D. degrees from the University of Cincinnati, and honorary doctorate degrees from Chuvash State University (Russia) and the University of Miskolc (Hungary). Prior to joining Thunderbird, Dr. Hisrich held the A. Malachi Mixon, III Chaired Professor of Entrepreneurial Studies at the Weatherhead School of Management, Case Western Reserve University. Dr. Hisrich was a Fulbright Professor at the International Management Center in Budapest, Hungary in 1989. In 1990-91 he was again named a Fulbright Professor in Budapest at the Foundation for Small Enterprise Economic Development, where he also held the Alexander Hamilton Chair in Entrepreneurship. Dr. Hisrich has held visiting professorships at: the University of Ljubljana (Slovenia); the Technical University of Vienna (Austria); the University of Limerick (Ireland); the Queensland University of Technology (Australia); The University of Puerto Rico; and the Massachusetts Institute of Technology.
He has authored or co-authored twenty-five books, including Entrepreneurship: Starting, Developing, and Managing a New Enterprise (translated into nine languages and now in its seventh edition), The 13 Biggest Mistakes that Derail Small Businesses and How to Avoid Them and Marketing. Dr. Hisrich has written over 300 articles on entrepreneurship, international business management, and venture capital, which have appeared in such journals as The Academy of Management Review, California Management Review, Columbia Journal of World Business, Journal of Business Venturing, Sloan Management Review, and Small Business Economics. He has served on the editorial boards of The Journal of Business Venturing, Entrepreneurship Theory and Practice, Journal of Small Business Management, and Journal of International Business and Entrepreneurship. Besides designing and delivering management and entrepreneurship programs to U.S. and foreign businesses and governments, particularly in transition economies, Dr. Hisrich has instituted academic and training programs such as the university/industry training program in Hungary, a high school teachers entrepreneurship training program in Russia, an Institute of International Entrepreneurship and Management in Russia, and an Entrepreneurship Center in Ukraine.
CYNTHIA HOSTETLER
TPEC Advisory Board Vice Chairman
Cynthia L. Hostetler was appointed as OPIC Vice President for Investment Funds in August 2001. Prior to joining OPIC, Ms. Hostetler served as President & member of the Board of Directors of First Manhattan Bancorporation (FMB), Manhattan, Kansas - a bank holding company. Ms. Hostetler concurrently served as Vice Chairman of the Board (1999-Present), President (1996-1999) & Vice President/General Counsel (1991-1996) of FMB's primary subsidiary, the First Savings Bank, F.S.B. (FSB). Ms. Hostetler was responsible for operations, regulatory activities and business development & strategy. During her tenure, Ms. Hostetler worked with the Office of Thrift Supervision to successfully reorganize FSB. Previously, Ms. Hostetler was an attorney in the corporate/banking department of the New York law firm of Simpson Thacher & Bartlett (STB). While at STB, she represented major commercial banks in lending activities, negotiation and preparation of acquisition documentation and syndicated credit facilities, and representation of corporations in acquisition activities and general corporate matters.
Ms. Hostetler received a Juris Doctor degree from the University of Virginia School of Law in 1988, and graduated magna cum laude from Southern Methodist University in 1985 with a Bachelor of Arts in Political Science.
VERONICA JOHN
President & Chief Executive Officer
IDFC Capital Singapore
IDFC Capital (Singapore) Pte Ltd (IDFC Capital) is a wholly-owned subsidiary of Infrastructure Development Finance Company Limited (IDFC). Established in 1997 and listed on the National Stock Exchange of India Limited and Bombay Stock Exchange in 2005, IDFC is an Indian financial institution focused on infrastructure and related assets.
The IDFC Capital is a global emerging markets private equity fund of funds business that brings together a highly qualified group of professionals with extensive emerging market private equity experience.
Veronica L. John joined IDFC Capital as a CEO in February 2008. Presently, she is in the process of setting up a global emerging markets fund of funds business.
Ms. John is a longstanding investor in emerging markets private equity funds in Asia. She has over 20 years of experience in international business and finance encompassing fund management, direct private equity investing, project management, privatization, and investment banking with a regional emphasis on Asia, Russia, Central Asia and Central Europe.
Previously, Ms. John was a Portfolio Director responsible for the Asia fund of funds portfolio of the CDC Group based in London. Prior to joining CDC, she was a Principal Investment Officer at the Asian Development Bank (ADB). At ADB, she was responsible for its private equity investment funds operations.
Ms. John lived in Kazakhstan and worked in Central Asia from 1994-2002. During that time, she was a Vice President at Central Asian American Enterprise Fund and managed the Fund’s Kazakhstan and Kyrgyzstan private equity and loan portfolios. Prior to that, she managed various privatization projects in Kazakhstan.
Ms. John holds a Master of Business Administration from George Washington University, and a Bachelor’s Degree in international studies and political science from Elmira College, United States.
Jarl Kallberg, Ph.D.
Professor of Global Finance, Thunderbird School of Global Management
Jarl “Jerry” Kallberg, Ph.D., is a professor of global finance at the Thunderbird School of Global Management and an internationally recognized expert in the areas of corporate finance, real estate, corporate strategy and the business of music and film. He is highly sought after by national and international media for his finance and real estate expertise, and his knowledge of international banking and credit has been tapped by the United States Congress as well as the World Bank.
He was also an assistant vice president at world commercial and credit information giant Dun and Bradstreet where he consulted with and directed a group of international economists who built credit, bankruptcy and other economic models for the company and its clients.
Among Dr. Kallberg’s research interests are financial engineering, real estate, financial contagion and influences, volatility and credit default swaps, preferred stock issuance, entertainment economics and credit and statistical modeling.
A prolific author of books relating to corporate finance, he has written or edited six books in the subject area. Included in his portfolio of works are “Corporate Liquidity: A Guide to Managing Working Capital,” “Corporate Liquidity: Management and Measurement,” “Current Asset Management: Cash, Credit and Inventory.”
Dr. Kallberg, who has served as a visiting professor at Bilkent University (Ankara, Turkey), the University of British Columbia, and Princeton University’s Woodrow Wilson School, was the editor of the prestigious Journal of Cash Management and is currently an associate editor of Journal of Real Estate Economics. He is on the editorial board of the Journal of Corporate Treasury Management, and his writings have been published in the leading economic journals of today, including Journal of Business, Journal of Empirical Finance, Journal of Financial Markets, Journal of Law and Economics, Journal of Real Estate Economics, Journal of Real Estate Finance and Economics, Management Science, and Operations Research.
Prior to joining Thunderbird in 2007, he was a faculty member in the finance department at New York University’s Stern School of Business for nearly 30 years. He was also a member of the faculty of New York University’s Law School and for several years he was the director of the finance Ph.D. program. In 2005, he was selected as the Stern School’s Professor of the Year.
Dr. Kallberg earned his Ph.D. in business administration at the University of British Columbia. He also holds MS and BS degrees in mathematics from the university.
H. JEFFREY LEONARD
Chief Executive Officer, Global Environment Fund
Dr. Leonard is the President and CEO of Global Environment Fund (GEF), one of the most experienced and most successful private equity firms dedicated exclusively to investments in the energy and environment sectors. Founded in 1990, GEF currently has approximately $1 billion in aggregate capital under management.
At GEF, Dr. Leonard serves as Chairman of the Investment Committee for Global Environment Emerging Markets Fund, the GEF Clean Technology Fund, the Global Emerging Markets Forestry Partners and the South Asian Clean Energy Fund.
Dr. Leonard is on the Board of Directors of the Emerging Markets Private Equity Association (“EMPEA”), and is a former co-chairman of the Advisory Board of the Clean Tech Network. In 2006-07, Dr. Leonard served as co-chairman of the energy transition team of Maryland Governor Martin O’Malley. He is a member of the Advisory Board of the US-Brazil Biofuels Partnership. From 1992 through 1998, Dr. Leonard was a member of the Hydrogen Technical Advisory Panel to the U.S. Secretary of Energy. He is a board member of the National Council for Science and the Environment (NCSE), the Board of the New America Foundation, City Year (Washington, D.C.) and is Chairman of the Board of The Washington Monthly. He is a founding board member and Chairman Emeritus of the Board of Beacon House Community Ministry, a not-for-profit organization dedicated to improving the lives of children and their families in northeast Washington, D.C.
Dr. Leonard is a graduate of Princeton (Ph.D.), London School of Economics (M.S. Econ) and Harvard College (B.A., magna cum laude). He is the author of five books and numerous technical articles relating to global environmental issues, international trade, energy production and technology development.
Luiz H. Maia ‘81
Managing Partner, Brookfield Brazil Capital Partners
Luiz is a Managing Partner, focused on the Brookfield Brazil Capital Partners Fund and is based in São Paulo. Prior to joining Brookfield in 2010, Luiz was the founding partner of Tripod Investments, a private equity/venture capital firm specializing on environmental and social investments. Luiz spent two years as a partner and director at Rio Bravo Investimentos, in charge of private equity and wealth management activities. Previously, he spent nine years and held various seniors positions with ABN AMRO Group, including Managing Director of ABN AMRO Bank, CEO of ABN AMRO Asset Management in Latin America and Executive Director of Banco Real. He also spent eight years at Banco Sul America, as well as eight years at Banco Mercantil de São Paulo. Since 2002, Luiz has been a Director for the National Association for Investment Banks and Asset Managers (“ANBIMA”), coordinating Private Equity Commission. Luiz is a Board Member of the Financial Planning Standards Board in the United States and of Bovespa’s Sustainability Index (“ISE”). Luiz holds an MBA from Thunderbird School of Global Management in Arizona and a bachelor’s degree in Civil Engineering from Universidade Mackenzie in São Paulo.
WILLIAM Y. MARK, LEAD EXAMINER
Private Equity Merchant Banking Knowledge Center
Federal Reserve Bank of Chicago
Bill has led the Private Equity Merchant Banking Knowledge Center, a Federal Reserve System initiative located at the Federal Reserve Bank of Chicago, since 2005 and a member since its inception in 2000. In this role, he has and will participate in various working groups associated with the passage, interpretation, and implementation of the Dodd-Frank Act of 2010. Overall, he has over seventeen years of experience at the Federal Reserve. In addition, Bill has experience as an internal auditor at Citigroup as well as at several other Chicago-area banks.
Bill obtained a Master of Business Administration in Finance from Loyola University of Chicago and a Bachelor of Science from the University of Illinois, Urbana, Illinois, in Aeronautical and Astronautical Engineering. Bill is a commissioned bank and bank holding company examiner of the Federal Reserve System.
Bill has co-authored articles for the Federal Reserve Bank of Chicago FedLetter (2006-2010) and was profiled in the August 2008 issue of Private Equity International Manager. Bill was selected to be one of the inaugural recipients of the Bank’s Christina M.L. Bishop Presidential Award in 1997. Bill is frequently requested to present at various private equity industry forums, academic venues, and supervisory/regulatory functions.
JIM MATHESON
General Partner, Flagship Ventures
Jim Matheson joined Flagship Ventures in 2000 and focuses on creating and funding new ventures in the sustainability, clean technology and special technologies (e.g. nanotechnology, materials and technology systems) arenas. Jim earned an MBA from The Harvard Business School, a Bachelor of Science (with honors) from the United States Naval Academy and retired in 2008 as a Commander in the US Naval Reserves.
Jim has over 20 years of technology and leadership experience across a variety of organizations and roles designing, engineering and deploying sophisticated technology platforms. He formerly served as a Navy F-14 & FA-18 pilot including duties flying over 200 combat missions from an aircraft carrier, as a TOPGUN Instructor and leading the Navy’s Adversary Program. He also gained broad experience in emerging aircraft & weapons system design, testing and procurement, and was deeply involved in many of the military’s IT modernization initiatives.
Jim serves on the boards of Flagship portfolio companies Advanced Electron Beams, Black Duck Software, Frontier Renewable Resources, Mascoma Energy Corporation, Midori, Novomer and Oasys Water and is Chairman of the Board of Genstruct and Ze-gen. He was previously a director of e-Dialog (acquired by GSI Commerce), Yantra (acquired by Sterling Commerce / SBC), Flamenco Networks (acquired by SOA Software) and Zingku (acquired by Google). Jim has also spearheaded Flagship Venture’s role as the Department of Energy’s Entrepreneur-in-Residence at the Lawrence Berkeley National Laboratory.
Jim is on the Board of New York-based hedge fund Black Horse Capital, the New England Clean Energy Council, the National Board of the Clean Tech Open, CLF (Conservation Law Foundation) Ventures, and the Center for Women & Enterprise, and is actively involved in numerous entrepreneurial and venture capital organizations including the Department of Energy's Biomass Technical Advisory Committee, the MA Clean Energy Center, the MIT Enterprise Forum, The Deshpande Center, and The Service Academy Business Network.
F. JOHN MATHIS
Director of the Global Financial Services Center; Professor of International Finance
John Mathis, Ph.D., is a professor of global banking and finance and the director of the Global Financial Services Center at Thunderbird School of Global Management. He is a world-renowned economist, who is highly sought after by corporations (both financial and non-financial), global organizations, and the media for his global perspective and expertise related to the finance and banking industry and the current economic and financial crisis.
His expertise includes the spectrum of industry subjects, including private equity, global finance and accounting, financial-institution management, international banking and financial institutions, international finance and trade, global economics, economic development, and country risk analysis.
He has contributed numerous articles to prestigious financial journals, been interviewed by top global media, and he has been invited to speak all over the world on international business issues. In early 2009, he was tapped by the Saudi Arabian Monetary Authority to join an elite group of international thought leaders, senior Saudi officials and executives in Riyadh to discuss the impact of the financial crisis on Saudi Arabia and to help shape the country’s strategies for weathering the storm.
Before joining the Thunderbird faculty, Dr. Mathis was a senior portfolio officer with The World Bank/International Finance Corp., and he was a senior financial analyst with The World Bank/International Bank for Reconstruction and Development. In addition, he was formerly chief international economist with Continental Illinois National Bank (now part of Bank of America Corp.), and was also previously an international economist at Chase Manhattan Bank (now JPMorgan/Chase). In fact, Dr. Mathis is credited with developing the legacy country-risk-evaluation systems of the financial institutions at which he was formerly employed.
Dr. Mathis has written and edited several books that have become widely used – including “Corporate Financial Management” and “Offshore Lending by U.S. Commercial Banks,” broadly recognized as the definitive work on international banking and country risk analysis.
Dr. Mathis’s broad field of experience and global perspective have afforded him unique expertise in applying analyses of changes in the economic and financial environment; in projecting and evaluating financial and economic developments globally; in identifying the risks and management options and policies associated with domestic and international loans and investments; in realistically evaluating private-equity investment opportunities; in developing corporate borrowing, liquidity and investment strategies and policies; and in formulating financial plans and budgets for financial restructuring employing structured products.
Dr. Mathis earned his Ph.D. in economics at the University of Iowa and received both his MA and his BA (both also in economics) from the University of California, Riverside.
LARRY K. MELLINGER'68
Vice Chairman of Advisory Board; Private Equity Adviser
LKM Advisors, LLC
Mr. Mellinger is a financial advisor and consultant to private sector investors and bankers doing business in the United States and emerging markets. His career as a senior financial services executive has encompassed broad-based experience in private equity, commercial banking and financial advisory work, across markets in developed and developing countries.
Prior to his current financial advisory work, Mr. Mellinger had served for five years as Senior Managing Director and Global Head of AIG's Alternative Investments area. In this capacity he was in charge of AIG's private equity and hedge fund activities in the United States, Europe, Japan and emerging markets world-wide. His responsibilities included AIG's sponsored funds, which today total 36 funds with over $10 billion in capital commitments, with five additional funds currently in the advanced stages of fund-raising, in addition to an additional approximately $10 billion of AIG's proprietary capital invested in various categories of alternative assets.
Before joining AIG in September 2000, he was a founding partner of Integra Partners, LLC, a Washington, D.C.-based financial advisory and infrastructure project development firm specializing in emerging markets. Mr. Mellinger has over 30 years of experience in emerging markets banking and finance, including the seven years he served as the U.S. Executive Director for Presidents Reagan and Bush on the board of the Inter-American Development Bank in Washington, from 1986 to 1993.
Prior to the IADB, he was Chief Financial Officer of Mexico's Gruma Corporation, one of the largest food manufacturing groups in Latin America. He began his professional career with the Union Bank in Los Angeles, where he became the regional head of both the Latin America and Asia Pacific groups, before becoming its Senior Vice President and General Manager for International Banking.
He holds a B.A. in International Relations from the University of Kansas and an M.S. in International Management from the American Graduate School of International Management.
He was raised in Latin America and Australia before attending school in Kansas and is fluent in Spanish and Portuguese.
MARCEL MEYER
Partner, PricewaterhouseCooper AG Switzerland
Marcel is an Assurance Partner in the Zurich office of PricewaterhouseCoopers Ltd. As a member of the Swiss leadership team in the asset management (AM) department Marcel's responsibilities include implementing the strategic goals of the AM practice and focusing on building the firms profile in the Swiss asset management market. This includes regulated investment managers, the private equity and real estate industry. Further, he is in charge of the Corporate Asset Management (CAM) team where Marcel manages a dedicated group of professionals servicing the asset management functions of the Swiss firm’s larger insurance clients and their strategic partners. In the last few years Marcel has built an extensive client base in Eastern Europe, mainly Russia and the Ukraine, and continues to spend considerable time servicing clients in the region.
Marcel has over 8 years of experience in serving national and multinational traditional and alternative investment management clients in countries such as the US, most central and Eastern European countries as well as the Near and middle East. He is the engagement Partner on Swiss and Liechtenstein regulated fund management companies including their managed funds (private equity, infrastructure and other alternative investment funds), alternative investment managers and private equity houses in Switzerland and Eastern Europe. Additionally, he is looking after the asset management functions of major international (Re-) insurance companies such as Swiss Re, Swiss Life and Baloise Insurance Group. This includes traditional and alternative investment portfolios, in particular their private equity allocations.
After graduating from the University of St.Gallen with a master’s degree in International Relations, Marcel started his career at PricewaterhouseCoopers Ltd. He qualified as a chartered certified accountant (FCCA) and obtained the certification as an approved audit expert according to the Federal Audit Oversight Authority of Switzerland (FAOA). He is an approved Lead auditor for investment companies in Liechtenstein. Marcel is fluent in German, English, French and Russian and has basic skills in Arabic and Italian.
Michael Mueller
Deputy CIO, Oregon State Treasury
Mr. Mueller has served as the Deputy Chief Investment Officer for the Oregon State Treasury (OST) for 11 years, prior to that, he served as the agency’s Audit & Risk Manager for five years. In that position, his responsibilities included monitoring Treasury compliance with internal policies and Oregon State law, and managing Treasury’s overall risk exposure.
As the Deputy CIO, his duties span all asset classes as well as managing the Treasury’s custody, performance, consulting and lending relationships. In addition, he helps the CIO to plan, organize, and direct the day-to-day activities of the Investment Division staff for the Oregon Public Employees Retirement Fund (OPERF) ($57 billion in assets). He has primary investment responsibility for Treasury’s State Accident Insurance Fund ($4.1 billion in assets), the Department of State Land’s Common School Fund ($1.1 in assets), and the Higher Education Pooled Endowment Fund ($64 million). Mr. Mueller is also the OST staff to the Oregon Growth Account Board, an in-state fund using a portion of lottery revenues to investment in seed stage and venture capital in Oregon ($99 million committed).
Prior to his employment at Treasury, Mr. Mueller worked for five years at the international accounting firm of KPMG Peat Marwick in their San Francisco and Portland, Oregon offices as a certified public accountant. Mr. Mueller earned his Chartered Financial Analyst designation in 2002. He is a graduate of Stanford University where he earned degrees in quantitative economics and history
MARK O'HARE
Founder and Managing Director, Preqin Ltd.
Mark O’Hare studied Mathematics and Mathematical Statistics at Cambridge University, where he graduated with First Class Honours and was awarded the Stokes Prize in Mathematics. He represented his college 1st VIII in rowing. Subsequent to this he studied Finance at London Business School.
Mark’s initial career was as a Manager with Boston Consulting Group, where he advised clients in Europe, the US and Africa, following which he founded Goodall Alexander O’Hare & Co, an independent strategy consulting firm.
In 1993 he founded Citywatch, the UK’s shareholder information service, which was acquired by Reuters in 1998, and now provides a global service on the ownership of listed equities. In 2002 he founded Private Equity Intelligence (Preqin), the alternative assets information service which provides extensive research, data and consultancy services on private equity, private real estate, infrastructure and hedge funds. Preqin is an independent business with 50 staff serving over 2,500 customers in 72 countries. Preqin tracks fund returns, fund raising information, fund terms and conditions, the GPs running the funds, and the LPs investing in them, and provides this information to its customers through a range of hard copy publications, online databases, and bespoke research projects.
Mark is married with four grown children, and is a marathon runner in his spare time.
William A. Owens
Asia Chairman, AEA Investors
William Owens joined AEA Holdings Asia on April 1, 2006 and is a managing director of AEA Investors in Hong Kong.
Prior to joining AEA, he was chief executive officer and vice chairman of Nortel. Mr. Owens had served on the board of directors of Nortel and took the helm of Nortel following the disclosure of accounting issues in April 2004. Under his leadership, Nortel was reestablished as a strong, stable, ethical Fortune 500 company growing strongly and on the path to leadership in the telecommunications and enterprise IT global marketplace.
Prior to joining Nortel, Mr. Owens was chief executive officer and chairman of Teledesic LLC and before that, he was the president, chief operating officer and vice chairman of Science Applications International Corporation (SAIC), the largest employee-owned high-technology company in the U.S. Prior to joining SAIC, Mr. Owens was vice chairman of the Joint Chiefs of Staff, the second-ranking military officer in the U.S. He had responsibility for the reorganization and restructuring of the armed forces in the post-Cold War era.
From 1991 to 1993, Mr. Owens was the deputy chief of Naval Operations for Resources, Warfare Requirements and Assessments. He served as commander of the U.S. Sixth Fleet in 1990 and 1991 during Operation Desert Storm in Iraq. Between 1988 and 1991, Mr. Owens served as senior military assistant to Secretaries of Defense Frank Carlucci and Dick Cheney, the senior military position in the Office of the Secretary of Defense.
Mr. Owens has served on the board of directors of nineteen public companies and has founded two technology companies, Lumera and Extend America. He is on the board of Daimler Chrysler AG, Polycom, Wipro, Embarq and AEA Investors LP. Mr. Owens is a member of several philanthropic boards including the Carnegie Foundation, Brookings Institution and the Fred Hutchinson Cancer Research Center. He is a member of the Council on Foreign Relations.
Mr. Owens has a B.A. and M.S. in politics, philosophy and economics from Oxford University and an M.S. in management from George Washington University.
TODD J. PETERSON
Head of Emerging Markets Group, Edwards Angell Palmer & Dodge LLP
Todd is a partner in the Private Equity and Venture Capital Practice Group, focusing on emerging markets work. This work includes four major components: forming private equity and similar funds primarily directed at emerging markets, working on transactions for such funds, working on a wide array of cross-border joint ventures (again primarily in emerging markets), and working on various infrastructure projects in emerging markets (including a number of biofuel and carbon credit related projects).
For the past several years Todd has been listed in The Legal Media Group Guide to the World’s Leading Equity lawyers, as well as The Legal Media Group Guide to the Worlds Leading Mergers and Acquisition Lawyers (Legal Media Group is the legal publishing arm of Euromoney Institutional Investor). He has also been involved with Africare for a number of years, and is listed in the Princeton Premier Business Leaders and Professionals Honors Edition.
JOSEPH QUINLAN
Managing Director & Chief Market Strategist Bank of America Investment Strategies Group;
TPEC Advisory Board Member
Joseph Quinlan is a Managing Director and the Chief Market Strategist of Bank of America, Global Wealth and Investment Management. He is charged with the development and implementation of domestic and global investment strategies. He joined the firm in June 2003 after working for several years as a Global Economist at Morgan Stanley (1994-02).
Prior to joining Morgan Stanley, Quinlan worked as Director of Economic Research at Sea-Land Services, a $3 billion global transportation firm. He has also been an International Management Consultant. Quinlan started his career with Merrill Lynch Economics.
In addition to his duties at Bank of America, Mr. Quinlan is a leading expert on global capital flows and the transatlantic economy. He has been a Senior Transatlantic Fellow (non-resident) at The German Marshall Fund in Brussels, Belgium since 2003, where his research centers on regional and global trade and investment flows. As a Fellow, he regularly debriefs and advises senior U.S. congressional leaders on global economic/financial affairs on Capitol Hill, and has testified before the European Parliament on transatlantic trade issues.
Quinlan is also a Fellow at the Center for Transatlantic Relations, the Paul H. Nitze School of Advanced International Studies (SAIS) of Johns Hopkins University. In 1998, he was nominated as Eisenhower Fellow and studied China-Taiwan cross-straits relations for a month in Taiwan.
He is the author, co-author, editor or contributor to eight books, the most recent: “Deep Integration: How Transatlantic Markets are Leading Globalization,” Johns Hopkins University, 2005, co-authored with Daniel Hamilton. He has published over 125 articles on international economics and trade, with publications appearing in such venues as Foreign Affairs, The Financial Times, The Wall Street Journal and Barron's.
Quinlan lectures on global finance at New York University, where he has been on the faculty since 1992. He has lectured on global affairs and international finance at various institutions in Europe and Latin America. Mr. Quinlan has also served as a consultant to the U.S. Department of States.
He earned a Master's degree in International Political Economics and Development from Fordham University in 1984. He attended Niagara University, graduating in 1980 with a B.A. in Political Science. He has done additional course work in international finance at New York University. He sits on the Board of the Graduate School of Arts and Sciences, Fordham University and is a member of the President's Council, Fordham University.
AMIT RATANPAL
Director, Kaizen Management Advisors Pvt. Ltd.;TPEC Board Fellow
Amit in his 11 years of work experience has the distinction of successfully traversing varied roles across the financial industry. This has given him cross skills vital to his current assignment as the Head of Fund of Funds business at ICICI Bank Limited. A large part of Amit’s experience has been in the areas of Private Equity, Investment banking, Asset management and Private Banking.
Amit joined ICICI Bank Limited in March 2005 and became a key part of its International Banking Group at a time when it was the key focus area for the bank. He has played several pioneering roles to build up its business streams where he set up its equity desk for global and private banking investors, its offshore investment management company. He also started the investment banking practice for private banking and global institutions. In his present profile he Head’s the Fund of Funds platform.
Prior to this, Amit worked for 5 years with Birla Sun Life group on various assignments. Some of the key assignments include providing appropriate treasury solutions to corporate clients for debt and equity linked products, part of the core team to form the firm’s Alternate Channels division as well as conceptualizing and implementing its electronic broking solution and distribution network across India.
During his three years of articleship while doing his Chartered Accountancy, he was working on full time assignments geared towards financial consulting to several large and reputed organizations
Amit is a Chartered Accountant and an Executive MBA from NMIMS, Mumbai. He has attended several training programs including a course on Private Equity & Venture Capital at the Indian School of Business, Hyderabad.
JESSE REYES
Co-Founder, Quartile One; TPEC Advisory Board Member
Jesse Reyes manages Crane Capital Associates' U.S. operations and leads U.S. manager origination and due diligence efforts. Prior to joining Crane Capital, he was Vice President, Global Research at Thomson Venture Economics. He joined Venture Economics in 1989 as Research Manager and later became Managing Director of Venture Economics' Institutional Investor Services' - which is a performance and portfolio analytics monitoring service which monitored over $300 billion in LP investments in private equity and venture capital investments for limited partner clients.
Jesse is widely regarded as one of the leading experts on performance measurement and quantitative analysis of the venture capital and private equity industry. He pioneered many of the performance benchmarking metrics now standard in the private equity industry. He developed private equity benchmarking products at Venture Economics such as the Investment Benchmark Reports and the Private Equity Performance Database on private equity performance, which have become the leading fund performance measurement tools by LPs and GPs alike. While at Venture Economics he also developed the Post Venture Capital Index-a public market index jointly developed with Warburg Pincus. He is one of the most highly sought-after speakers at industry conferences and is a frequent contributor to the industry and financial press.
In addition to his activities at Crane, Mr. Reyes is a member of the CFA Institute's and the Global Investment Performance Standards' (GIPS) committees on performance presentation standards representing private equity investing. He is an Educational Board Member of the Kauffman Fellows program. He also is an courtesy lecturer at Cornell's Johnson Graduate School of Management, where he teaches classes on topics in institutional private equity investing.
Prior to joining Venture Economics, he was a visiting assistant professor at Texas Tech University teaching courses in futures, finance and applied economics. While at Texas Tech he also served as a consultant to U.S. AID projects specializing in economic and financial analysis of micro-business development and financial markets development projects in Central America. He was the founder and the managing director of Texas-based Decision Research Associates, a software firm specializing in oil and gas partnership accounting and other office management software.
A native of Ralls, Texas, his background includes a Bachelor of Science in Agricultural and Applied Economics and an MBA in Finance and Statistics., both from Texas Tech University as well as graduate studies in the Department of Economics at Harvard University.
JACK RIVKIN
Director, Idealab; Director, Neuberger Berman Mutual Funds
Jack Rivkin has had a long and varied career in the Investment Industry encompassing Private and Public Equity, Investment Policy and Management. He is known as a keen observer of investment and business strategy, and a superb manager of highly talented professionals. He retired in early 2008 as Executive Vice President, Chief Investment Officer and Head of Private Asset Management of Neuberger Berman.
He was also a member of Neuberger’s Executive Management Committee, the Lehman Brothers Council on Climate Change and the Neuberger Berman Climate Change Fund Advisory Board. He is engaged with the United Nations on policy issues related to Private Capital and Climate Change. He is an Associate Fellow of the Asia Society.
He retired from Neuberger to devote more time to Climate Change and related Investing and Policy issues. Mr. Rivkin began his investment career in 1968 as a research analyst at Mitchell Hutchins, and subsequently became Director of Research. After Paine Webber acquired Mitchell Hutchins, Mr. Rivkin served in a variety of positions including, Director of Research, CFO of the parent company; President and CEO of PaineWebber Mitchell Hutchins -the equity trading and investment arm of PaineWebber; Chairman of Mitchell Hutchins Asset Management and President and Founder of PaineWebber Capital, the merchant banking arm of PW, where he ran a private equity portfolio. From 1987 to 1992 he was Director of Global Research and, subsequently, Head of the Worldwide Equities Division of Lehman Brothers Inc. From 1993 to 1995, Mr. Rivkin served as a Vice Chairman and director of Global Research at Smith Barney (ultimately a subsidiary of Citigroup). He was an executive vice president with Citigroup Investments from 1994 through 2001, responsible for private equity investments. During that period he was also an adjunct professor at Columbia University teaching a course in Security Analysis and classes on Venture Capital. He joined Neuberger Berman in 2002. Mr. Rivkin is the co-author of “Risk & Reward—Venture Capital and the Making of America’s Great Industries,” Random House, 1987.
He is a regular guest on various media including CNBC and Bloomberg. He is the principal subject in a series of Harvard Business School cases describing his experience as Director of Research and Head of Equities at Lehman Brothers. He has served as a director of a number of private and public companies and the New York Society of Security Analysts. He is currently a director of Dale Carnegie and Associates Inc., Idealab, Distributed World Power, Essentials Brands, Neuberger Berman Mutual Funds and Solbright Corporation. He and his wife, Jane, are involved with a number of NGOs as well. He is also a member of the Economic Club of New York, the Anglers Club of New York, Theodore Gordon Fly Fishers, and a lifetime member of Trout Unlimited.
He continues to be an active private equity investor when he isn’t fly fishing. He has traveled extensively to South America, Europe and Asia over his investment career. In addition to their residence in East Hampton, New York, he and his wife have had a home near San Martin de los Andes, Argentina, for many years.
Richard Roberts
Principal, Roberts, Raheb & Gradler, LLC
Mr. Roberts provides strategic advice and targeted lobbying services for Fortune 500 and small business financial services clients. Mr. Roberts facilitates communication and engagement between clients and federal agencies and with the Congress. He focuses a substantial amount of his time on regulatory policy initiatives at the Securities and Exchange Commission and the Commodity Futures Trading Commission.
From 1990 to 1995, Mr. Roberts served as a Commissioner of the Securities and Exchange Commission and has been involved in, written about, or testified on a wide range of subjects affecting the capital markets. Since leaving the Commission, Mr. Roberts has been a frequent media commentator and writer on public policy issues affecting securities, and has assisted the governments of Romania and Ukraine in developing a securities market. From 1987 to 1990, he was the Chief of Staff for Senator Richard Shelby.
Mr. Roberts is a member of the Advisory Board of Securities Regulation & Law Reports and sits on the Advisory Board of the International Journal of Disclosure and Governance, as well as the Editorial Board of the Municipal Finance Journal. Mr. Roberts served as a member of the NASD’s District 10 Regional Consultative Committee from 2002 to 2004. From 1999 to 2001, he served as a member of the Market Regulation Advisory Board of the NASD; and from 1996 to 1998 he served as a member of the Legal Advisory Board of the NASD. Mr. Roberts most recently worked as a partner in the law firm of Thelen, Reid, & Priest.
Mr. Roberts earned a Bachelor in Electrical Engineering from Auburn University, a J.D. from the University of Alabama School of Law, and an LL.M. from the George Washington University Law Center. He is a member of the District of Columbia and the State of Alabama Bar Associations.
Greg Rockwell
Principal, Excend Capital Group
Greg Rockwell is a principal at Excend Capital Group. Mr. Rockwell leads the capital markets activities at Excend—facilitating investments in and raising private equity for organizations throughout the Americas. The firm focuses on the IT, business services, energy, infrastructure and real estate sectors. Mr. Rockwell has provided advisory services in capital activities including IBM, British Telecom, Starwood Capital, Actis, ING, Advent, PetroTiger, DDR, Cimcorp, Estrategias Corporativas, and Accor Hotels, among others.
Previous to working with Excend Capital, Mr. Rockwell came from a financial services and consulting background, having recently worked as an advisor to hedge fund and investment advisory groups. He also held management responsibilities in the retail arm of KeyBank in leveraging up their regional mortgage programs. Mr. Rockwell has extensive experience working with organizations throughout North and South America in raising private equity and venture capital as well as providing key guidance and consulting on operations.
PARAG SAXANA
Founding Partner and CEO, New Silk Route Partners
Prior to co-founding New Silk Route, Parag co-founded Vedanta Capital, LLC in 2006, a private equity group focused on global private equity fund of funds and direct private equity investments. Before embarking on these recent ventures, Parag was the Managing Partner and a co-founder of INVESCO Private Capital where he was responsible for both direct venture capital and private equity investing and fund of funds investment activities. Parag joined Citicorp Investment Management in 1983, which was spun out in 1988 to become Chancellor Capital Management, and was eventually acquired by INVESCO. Parag led the firm to over $8 billion of assets under management at its peak. During his tenure, the firm made over 400 partnership investments and 300 direct investments with top quartile performance. Parag also started INVESCO’s Senior-Secured Management Group (CLOs and CDOs) which currently manages over $6 billion. In addition, Parag started Chancellor’s small cap public equity group, which he built to $1.5 billion in assets with top decile performance.
In addition to being an original investor in iconic companies such as Starbucks, Amgen, Polycom and Whole Foods, Parag led more than 90 investments for Chancellor and INVESCO Private Capital, a third of which have gone public. These investments include Amber Networks, Masimo, MetroPCS, Xenon Pharmaceuticals, as well as several companies which have gone public, including Alkermes, ARM Holdings, Celgene, Genomic Health, Indigo, Transgenomic and Volterra. Parag serves on the Foreign Direct Investment task force reporting to the Prime minister of India as well as the committee on Venture Capital and Innovation for the government of India. He serves on the boards of Global Alliance for TB (treasurer), pan-Indian Institute of Technology, TiE (Tri-State President), Bharatiya Vidya Bhavan and other organizations. Parag received an M.B.A. from the Wharton School of the University of Pennsylvania. He earned a B.Tech from the Indian Institute of Technology and an M.S. in Chemical Engineering from the West Virginia College of Graduate Studies.
ERIK SEBUSCH '01
Partner, CMEA Capital
Erik Sebusch has no doubts about who's at "the top of the food chain" in the world of venture capital – the Limited Partner. CMEA Capital's newest partner is committed to giving LPs the attention and communications they need.
With deep experience on the investment side, Erik understands the evolving needs of limited partners. They have more investment opportunities to chose from. They're looking more closely at risk-return tradeoffs. And they're demanding greater transparency and communications. Erik's role is to give them all of the above. "Our goal is to develop a best-in-class platform on which we can communicate with our limited partners and build strong strategic relationships," Erik said.
Erik is a “trained innovator,” which means he does not easily accept the status quo. During his long career at UPS, which he calls a “left-brained organization,” Erik encouraged them to use “right brain thinking” to develop new products while in New Product Concepts. This innovation continued while in UPS’s venture arm, UPS Strategic Enterprise Fund. Erik was involved in assisting and strategizing with early-stage startups to get their message and technology exposed to UPS and out to the world.
Erik has life-long interest in technologies involving personal and national security. Since 911, that interest has taken on a higher purpose – helping to keep America safe. He sits on the Department of Homeland Security’s pilot program, the Southeastern Emergency Response Network and takes part in the American Security Challenge. The latter is a private-sector competition that supports the development of security technologies. One recent standout is a high performance “panoramic” visual reality goggle, developed by Sensics. It’s used to train personnel in armored vehicles, flight simulators and combat.
Erik will bring a similar panoramic vision to our relations with limited partners and strategic partnerships.
JAMES D. SEYMOUR, CFA
Managing Partner, Pontefract Global Strategies, LLC
Mr. Seymour has over 35 years of investment and finance experience in emerging markets through 18 years at Bankers Trust living and working in Africa, Asia, Middle East, and Latin America, 13 years at Commonfund Capital managing international/emerging markets private equity fund of funds, four years at EMP Global, a Washington-based emerging markets private equity fund and most recently with SeedRock Corporation, a Vancouver-based company that focuses on mining, agriculture, energy, and social enterprise investments in the emerging markets. He has served on 18 private equity advisory boards and is currently on the board of the Africa Emerging Markets Fund, the Advisory Board of EMPEA, the Advisory Board of Pacific Equity Partners, and several non-profit boards including the Global Partnership for Afghanistan.
Mr. Seymour is also Managing Partner of Pontefract Global Strategies, which provides advisory services to investors in the emerging markets. He is a graduate of Yale University in International Relations and Harvard Business School in International Finance.
Arun Sharma
CIO Global Financial Markets, International Financial Corporation (IFC)
Mr. Arun Kumar Sharma is Chief Investment Officer with the Global Financial Markets Department of the International Finance Corporation and is based in Washington DC.
Mr. Sharma is responsible for a wide range of banking and financial market transactions in Asia and the Middle East and other Emerging Market Regions. He also manages key client relationships for IFC and is responsible for several global initiatives for the Corporation. He is currently engaged in a several greenfield equity investments in specialized financial institutions emerging markets.
During his career in IFC which he joined in 1990, Mr. Sharma has worked in banking and financial markets in emerging markets of all major regions of the world including Eastern and Central Europe, Latin America, South and East Asia, Middle East and North and South Africa. He has been involved in a wide range of transactions in different areas such as securitization, insurance, reinsurance, cross border leasing, structured U.S. commercial paper, Islamic banking, mortgage finance and distressed assets. Prior his current position Mr. Sharma was Head of Global Structured Finance and was responsible for founding IFC’s securitization business.
Prior to joining IFC Mr. Sharma was with the Reserve Bank of India where he covered bank supervision and examination, and was involved in the development of policy initiatives in the areas of foreign inward investment in India’s financial sector and liberalization of foreign exchange and capital controls.
Mr. Sharma holds an M.A. From St. Stephen’s College in Delhi and MBA from the Kogod School of Business at the American University in Washington DC. He has participated in executive education programs of Wharton, Oxford, INSEAD and IMD Lausanne. Mr. Sharma is Hubert H. Humphrey Fellow and a fellow of the Wharton School. He is a certified associate of the Indian Institute of Bankers and a recipient of the institute’s Sir Norman Murray Prize.
MARK STEED '07
Investment Specialist, Public Safety Personnel Retirement System of the State of Arizona
Mark is the Private Equity and Venture Capital Strategist for the innovative Arizona PSPRS. In this capacity, he manages a program with a robust commitment to opportunistic private investments and entrepreneurial thinking. He was recently featured as the Keynote Speaker at the Private Equity Summit in Palm Springs to discuss the impact of the “Global Credit Crisis and Private Equity.” He’s also been invited to participate in several panel discussions on the private equity and venture capital industry. Mr. Steed also has a unique global perspective as he has traveled to such places as Slovenia and Hungary, meeting with Private Equity firms and Venture Capitalists to better understand challenges they face in emerging economies. Mark graduated with his MBA from Thunderbird’s School of Global Management and received his BA (with honors) in Latin American Studies and Business Management from Brigham Young University. In his spare time, Mr. Steed enjoys teaching high school students the basics of economics and finance.
KENNETH STEVENS
Managing Partner, Leopard Capital
Kenneth has 19 years of unlisted and listed equities investment and business management experience. After serving as Head of Research and Investment Banking Executive at CLSA Securities in Thailand, he spent ten years developing his own group of business ventures in Thailand and Vietnam. His operational experience includes project design, construction and management; product distribution; aquaculture production; and service businesses. Mr. Stevens holds a MIM (Thunderbird) and a BA (Cornell), and is a Chartered Financial Analyst.
HEATHER M. STONE
Partner, Edwards Angell Palmer & Dodge LLP
Heather focuses on private equity and venture capital and is Chair of the firm's Fund Formation practice group. She has over 14 years of experience in a range of domestic and cross-border corporate and securities transactions and fund formation work. Heather has represented many private equity firms, as well as many growth-oriented software, emerging technology and media companies in all stages of development, from start-ups to multi-national public companies. In 2001, Heather was voted by Digital Industry as the “Best General Lawyer for a High-Tech Firm”, and has been designated a “Super Lawyer” by Law & Politics and Boston Magazine.
MARY B. TEAGARDEN
Professor of Global Strategy, Thunderbird School of Global Management
Dr. Mary B. Teagarden is Professor of Global Strategy at Thunderbird School of Global Management, and editor-in-chief of Thunderbird International Business Review. Mary is an active international consultant who advises technology-intensive manufacturing and service firms in China, India, Malaysia, Mexico and Brazil. She has published more than 120 articles, books, chapters, and case studies in Harvard Business Review, Academy of Management Journal, Human Resource Management and Organizational Dynamics among others. Top media outlets, including CNN, MSNBC, Fox Business, CCTV, ABC, the Financial Times, Harvard Business School Working Knowledge, CIO and IEEE Spectrum call on her expertise regularly. Mary serves as an Advisor or Director on eight international corporate Boards.
GREGORY UNRUH
Director, The Lincoln Center for Ethics in Global Management
Gregory C. Unruh, Ph.D., professor of global business and director of the Lincoln Center for Ethics in Global Management at Thunderbird School of Global Management, is an expert on the role of technological innovation in addressing the challenges of global sustainability.
The Lincoln Center is the institutional focal point for Thunderbird’s work in global citizenship, which covers the areas of professional ethics, corporate social responsibility, reputation and environmental sustainability. The center has been recognized as a strategic partner of the United Nations Global Compact, an initiative dedicated to implementing socially and environmentally responsible business practices around the world.
As part of his United Nations commitments, Dr. Unruh contributed to the development of the “Principles for Responsible Management Education,” which he and Thunderbird President Ángel Cabrera presented to UN secretary general Bon Ki Moon in 2007 at the UN Palais des Nations in Geneva.
An outspoken advocate of environmental sustainability, ethics and corporate social responsibility, Dr. Unruh co-founded the Center for Eco-Intelligent Management along with William McDonough (renowned “green” designer) and also has served as a technical reviewer for the Intergovernmental Panel on Climate Change, the group that shared the 2007 Nobel Peace Prize with former President Al Gore.
Before coming to Thunderbird, Dr. Unruh was the IE Alumni Professor of Corporate Sustainability at the Instituto de Empresa Business School in Madrid. He also served on the faculty at Columbia University in Jeffrey Sach’s Earth Institute and at Tufts University’s Fletcher School, where he was interim director of the Center for International Environment and Resource Policy. Prior to his academic career, he was an environmental consultant in California and northern Mexico for eight years.
Dr. Unruh has published numerous articles in Energy Policy, Journal of Business Strategy and the Environment, Journal of Economic Issues, Ecological Economics, and Journal of Environment and Development Economics. His recent work includes “The Biosphere Rules” (Harvard Business Review) and “Should You Manage Ethics or Corruption?” (Thunderbird International Business Review). Also, Dr. Unruh recently completed “Earth Incorporated,” a business book on sustainability management from Harvard Business School Press.
He has appeared on BBC radio and has been interviewed in popular media outlets such as BusinessWeek, Financial Times, the Boston Globe and the Spanish-language dailies Expansion, Diaro, ABC (Spain) and El Mercurio (Chile).
Dr. Unruh earned his Ph.D. in international technology and environmental management from the Fletcher School at Tufts University; his MA in international affairs and business from Schiller International University in Madrid and Paris; and his BS in the earth sciences from the University of California.
Michael Viteri ‘95,
Adjunct Professor of Finance, Thunderbird School of Global Management
Manager of Portfolio & Trading Strategies, Oregon State Treasury
Michael Viteri is the Manager of Portfolios & Trading Strategies for the $28.2 billion Arizona State Retirement System. Michael manages six domestic equity strategies (market value $7 billion) and a futures overlay program and has executed numerous transitions during his tenure. His responsibilities have included manager oversight for the externally managed Domestic and International Equity asset classes and oversight of the Commission Recapture program. Prior to this Michael served as a Portfolio Manager at Fan Asset Management in Mountain View, CA. In this capacity, Michael managed several public fund and corporate institutional accounts. Michael completed his BA in Anthropology and Spanish from Arizona State University, and his Masters in International Management/MBA at Thunderbird School of Global Management.
BRIAN WALSH
Principal, Nth Power
Brian Walsh joined Nth Power in 2007 and is involved in all aspects of the firm, including deal origination and structuring, due diligence and board involvement with portfolio companies. He examines a variety of investment areas including better buildings, oil and gas, solar, advanced materials, new energy harvesting technologies and advanced transportation. He has assisted in the investment of several portfolio companies including ARXX, Rive Technology, CalStar, Tempronics and Cyanto and is currently on the boards of Tempronics and Cyanto and sits as an observer on the boards of ARXX, CalStar and Rive Technology. Mr. Walsh is the co-author for the report Innovating for Better Buildings: an opportunity disguised as a meltdown, along with Fraunhofer ISE and CSE.
Prior to Nth Power, Brian worked with several East Coast venture firms, including Advanced Technology Ventures (ATV) and the MA Green Energy Fund (MGEF), as a consultant and investment associate providing them with a more comprehensive overview of the Cleantech space and assisting on the evaluation of energy-related deals. Brian also worked with many MIT and Harvard startups in the energy efficiency, solar, water and materials spaces, helping with business model strategies and funding options.
Earlier in his career, Brian served as Technical Director at Breakthrough Technologies Institute, an environmental technology think tank in Washington DC, and as a Director at the US Fuel Cell Council, the premier industry association for the emerging hydrogen and fuel cell industries. During this time, Brian worked closely with leading startups, government agencies and large OEMs on overcoming market-related barriers to the commercialization of hydrogen and fuel cell-related technologies.
Brian has an MBA from the Massachusetts Institute of Technology (MIT) Sloan School of Management, where he led the MIT Venture Capital / Private Equity Club, the MIT Sloan Energy & Environment Club and served as Managing Director of the 2007 MIT Energy Conference. Brian received his Bachelors of Science in Physics from Tufts University.
For additional information on the 2011 conference and sponsorship opportunities please contact:
Jim La Marche, Managing Director
Tel: 602.978.7335
Fax: 602.978.7950
E-mail: james.lamarche@thunderbird.edu
Web: www.thunderbird.edu/TPEC-conference
Tracy Thomas II, Program Manager
Tel: 602.978.7331
Fax: 602.978.7950
E-mail: tracy.thomas@thunderbird.edu
Web: www.thunderbird.edu/TPEC-conference
1 Global Place, Glendale, AZ 85306-6000
+1 (602) 978-7000 | 800-848-9084 (US)
