The PEI Private Fund Compliance Forum - PEI Media

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The PEI Private Fund 

Compliance Forum 

Meeting the challenges of new regulatory, financial & tax regimes 

June 22-23, 2010 | Concierge Conference Center, New York 

Featured speakers include: 

Celeste Barone 

Principal 

Pomona Capital 

Phil Jensen 

Partner & Chief 

Financial Officer 

Paul Capital 

John P. Malfettone 

Partner 

COO & CCO 

Oak Hill Capital 

Partners 

Alan K. Halfenger 

Chief Compliance 

Officer 

Bain Capital LLC 

Robert J. Kirby 

Chief Financial Officer 

Auda International LP 

Lauren M. Massey 

Managing Director, 

Finance & 

Administration 

Abbott Capital 

Management, LLC

Welcome to The PEI Private Fund Compliance Forum 

I am very pleased to invite you to an event that is designed to deliver very valuable intelligence for the 

benefit of your firm. 

You may wish that the PEI Private Fund Compliance Forum had no need to exist, but our aim is to 

give you the tools and knowledge necessary to upgrade your firm’s internal systems in as painless a 

fashion as possible. What’s more, our aim in designing this event is to hear from professionals in the 

private equity, real estate and other alternative investment industries about why so many of them have voluntarily 

upgraded their firms to levels at or near what SEC compliance would require. Indeed, not every change in the 

market is being imposed by regulators. Institutional investors are ever more insistent that their money managers 

conform to the highest standards of financial control, corporate governance, risk management and ethics. 

Whatever regulators around the world do, compliance increasingly includes the spirit of the law in addition to the 

letter of the law. 

It is also important to note that this Forum is not simply focused on SEC registration. When your firm is on the 

fundraising trail in the US and abroad, there is a whole raft of rules that you must be aware of with regard to 

securities solicitation and performance presentation. Here again investor preferences play a big role. 

Best, 

David Snow 

Editor-in-Chief, PEI Media 

Conference Chairman 

“Great opportunity to network with other industry professionals and to stay 

current with rules, regulations and best practices”. 

Stephen E. Hoey, KPS Capital Partners

A sample of the experts confirmed to speak: 

Daniel Amir 

Vice President 

BNY Mellon 


Principal 


Jeffrey C. Bollerman 

Director, LP Interests 

SecondMarket 

Paula Bosco 

Director of Compliance 

New Mountain 

Capital 

Julia D. Corelli 

Partner 

Pepper Hamilton LLP 

Anthony J. Donofrio 


Hamilton Lane 

James P. Feeney 


Officer 

Commonfund Group 

Alan Fish 

Partner, Financial 

Services 

Ernst & Young LLP 

John M. Ford 

Partner 




Officer 


Deborah Hodges 

Managing Director 

MidOcean Partners 

Phil Jensen 

Partner & Chief 

Financial Officer 

Paul Capital 

Bruce Karpati* 

Co-Chief Asset 

Management Unit 

SEC 


Chief Financial 

Officer 


Kristina L. Kneip 

Global Chief 

Compliance Officer 

JER Partners 

William LaFayette 


& CFO 

Asia Alternatives 

Management LLC 

Seth Landsberg 

Partner, Financial 

Services 



Partner 

COO & CCO 

Oak Hill Capital 

Partners 

Raj Marphatia 

Partner 

Ropes & Gray LLP 


Managing Director, 

Finance & 

Administration 

Abbott Capital 

Management, LLC 

Jeffrey C. Morton 

Partner 

ACA Compliance 

Group 

Johnny Randel 

CFO & COO 

The StepStone Group 

David Snow 

Editor in Chief 

PEI Media 

Joel Wattenbarger 

Partner 

Ropes & Gray LLP

Day 1: Tuesday, June 22, 2010 

8:50 – 9:00 PEI Media welcome & Chairman’s introduction 

David Snow, Editor in Chief, PEI Media 

9:00 – 10:00 Keynote panel: Under the microscope - 

Navigating the firm in a new era of 

heightened compliance 

Panel Members: 

• How do you make compliance a process of 

the business 

• Creating a structure that makes sure 

compliance is done properly 

• When do you need to hire a Chief Compliance 

Officer 

• Redefining the role of the CFO to oversee 

and manage the compliance function 

• How are fund operations evolving in 

response to new regulations? 

Moderator: David Snow 

Editor in Chief 

PEI Media 


Chief Compliance Officer 


Phil Jensen 

Partner & Chief Financial Officer 

Paul Capital 


Partner, COO & CCO 

Oak Hill Capital Partners 

10:00 – 10:30 Interview: SEC shines a light on alternative 

assets 

Bruce Karpati (invited) 

Co-Chief Asset Management Unit 

SEC 

10:30 – 10:50 Networking break 

11:30 – 12:15 Panel: Registering with the SEC: 

Benchmarking the costs and measuring 

the benefits 

• Budgeting for direct costs – infrastructure 

costs, staff, technology, outside consultants 

• Determining the indirect costs – 

administrative burdens on staff, handling 

incremental inquiries, communicating with 

SEC and LPs 

12:15 – 1:00 Panel: New rules governing fundraising 

Panel Member: 

• Presentation materials and being compliant 

• Changing landscape for fundraising in 

Europe – impact of proposed EU directive 

• Changing rules around use of placement 

agents 

• US Pension fund landscape 

• Latest developments in GIPS (Global 

Investment Performance Standards) 

• Monitoring your employees’ political contributions 

Raj Marphatia 

Partner 


1:00 – 2:15 Luncheon 

2:15 – 3:15 Workshop Session I (see below) 

3:15 – 3:30 Refreshments 

3:30 – 4:30 Workshop Session II (see below) 

4:30 – 5:30 Workshop Session III (see below) 

5:30 – 7:00 Cocktail Reception

Day 2: Wednesday, June 23, 2010 

8:50 – 9:00 Chairman’s welcome 

9:00 – 9:40 Panel: European Union Directive on 

Alternative Investment Fund Managers and 

the impact on US private fund managers 

• What is the scope of the proposed 

directive? 

• Will it apply to all private equity and venture 

capital firms regardless of Assets under 

management? 

• How will it affect fund raising in Europe by 

US private equity firms? 

• How will it impact valuation, capital 

requirements, investment due diligence, 

fund raising? 

• Portfolio company valuation 

9:40 – 10:35 Panel: The new due diligence regime – 

meeting requirements from LPs and 

regulators 


• Presentation and documentation of track 

record 

• Monitoring of trading activities 

• Increased scrutiny around valuation 

• Importance of integrity of reporting 

• Remuneration of teams 

Moderator: Alan Fish 

Partner, Financial Services 


Daniel Amir 


BNY Mellon 

10:35 – 10:50 Coffee break 

10:50 – 11:40 Panel: Effective and appropriate marketing 

materials 


• Interpreting rules governing marketing and 

advertising 

• Making sure that presentations are 

reviewed by compliance 

• Making sure your web sites are in 

compliance 

• Guidelines regarding talking to the press 

Julia D. Corelli 

Partner 


Kristina L. Kneip 

Global Chief Compliance Officer 

JER Partners 

11:40 – 12:15 Presentation: PRI (UN Principles of 

Responsible Investment) 

• What does it mean to be compliant with 

PRI? 

• Meeting environmental, social and 

governance (ESG) criteria in investment 

strategies 

12:15 – 1:00 Closing Panel: What is next on regulatory 

horizon from Washington? 

1:00 – 2:00 Closing Luncheon 

James P. Feeney 

Chief Compliance Officer 

Commonfund Group

Workshops Session I 

Workshop Session II 

Workshop A: What to expect during the first 

6-12 months as a Registered Investment Advisor 

Participants: 

• ADV I and II forms 

• Formalizing code of ethics 

• Getting buy-in from the GPs 


Principal 


John M. Ford 

Partner 


Deborah Hodges 


MidOcean Partners 

Workshop B: International Tax and regulatory issues 

Participants: 

• Recent tax changes and new regulatory 

frameworks in China, Australia, South 

Korea, India 

• FIN48 compliance 

• How do these changes impact returns? 

• Modifying fund structures for tax efficiency 

William LaFayette 

Managing Director & CFO 

Asia Alternatives Management LLC 

Seth Landsberg 

Partner, Financial Services 


Workshop C: Stepping up your internal compliance program 

Participants: 

• Creating a firm compliance manual and training 

your staff 

• Administering the terms of the limited 

partnership agreement 

• Building a risk matrix and conducting an annual review 

• Identifying risks; conflicts and fees 


Chief Financial Officer 


Johnny Randel 

CFO & COO 

The StepStone Group 

Joel Wattenbarger 

Partner 


Workshop D: Using IT to manage data security and document 

retention 

Participants: 

• How you can manage your systems for security 

purposes 

• Document retention and email archiving 

Christine M. Horan 

Vice President & Compliance Officer 

HarbourVest Partners 


Managing Director, Finance & Administration 

Abbott Capital Management, LLC

Workshop Session III 

Workshop E: SEC exam strategies 

• What are the hot buttons in an audit 

• Disclosure issues 

• Top 10 deficiencies 

• What to expect – soup to nuts 

“Great conference...lots of very relevant 

topics covered...one of the few PE 

conferences focused on back office.” 

Marc Keirstead, CPP Investment Board 

Participants: 

Paula Bosco 

Director of Compliance 

New Mountain Capital 

Jeffrey C. Morton 

Partner 

ACA Compliance Group 

Workshop F: Transfer pricing, and legal, tax and 

compliance issues in secondary transactions 

Participants: 

• Non-disclosure agreements 

• Investor specific issues 

• Regulatory issues - be sure to avoid being 

classified as a “publicly traded partnership” 

• Conflicts of interest 

• Purchase & Sale Agreements and GP 

transfer documentation 

Jeffrey C. Bollerman 

Director, LP Interests 

SecondMarket 

Anthony J. Donofrio 


Hamilton Lane

Just some of the firms that have 

attended our CFO focused forums: Results of recent poll taken at the 2010 

Private Equity International CFO & COOs Forum 

3i • Abingworth • ACA Compliance Group • Accuitive Medical Ventures • Adams Street 

Partners, LLC • AIG Asset Management • Alchemy Partners • Alcion Ventures LP • 

AlpInvest Partners • Alter Domus S.a.r.l. • Altor Equity Partners • Amadeus Capital Partners 

• AMCI Capital • Anacap Financial Partners • Aon • Apax Partners • Apollo Management 

• ARC Financial Corp. • Ariba • ATP Private Equity Partners • Auda • Augentius Fund 

Administration (New York) Inc. • Aztec Group • Bain Capital • Bank of America Merrill 

Lynch • Barclays Capital • Barclays Private Equity • Bay City Capital • BC Partners • 

Bedell Fund Services • Berkshire Partners LLC • Bessemer Venture Partners • Blue Wolf 

Capital Management • BNY Mellon • Boston Millennia Partners • Boston Ventures • Bovill 

• Bregal Investments • Brooke Private Equity Advisors • Brookfield Asset Management 

Inc. • Cambridge Associates • Canada Pension Plan Investment Board • Capital Dynamics 

• Capital E Advisors Inc • Capital Elements • CapVest Ltd • Capvis Equity Partners AG 

• Carousel Capital • Catterton Partners • CBIZ Tofias • CCMP Capital Advisors, LLC • 

CDC Group • Cerberus Capital Management, L.P. • Charles River Ventures • Chrysalis 

Ventures • Cinven • Citco • Citi • Citi Alternative Investment Services • Citi Infrastructure 

Investors • Citi Private Equity Services • Citigroup • Clearwater Capital Partners • Cockrell 

Interests Inc • Code Hennessy & Simmons, LLC • Cognetas • Coller Capital • Commercial 

International Investment Company • Commonfund Capital Inc. • ComVest Investment 

Partners • Conversus Asset Management • Conversus Capital • Corsair Capital • Court 

Square Capital • Credit Suisse • Crestview Partners • Danske Private Equity • Deloitte • 

Development Partners International • Diamond Castle Holdings, LLC • Duff and Phelps, 

LLC • Duke Street • Dunedin Capital Partners • ECI Partners • EdgeStone Capital Partners 

• eFront • Elevation Partners • EnCap Investments LP • Enercap Power Fund • Energy 

Investors Funds • Eurasian Development Bank • European Commission • Excelor LLC 

• Fairview Capital Partners • Falcon Investment Advisors, LLC • First Republic Bank • 

FLAG Capital Management, LLC • Forum Partners Investment Management LLC • Frazier 

Healthcare Ventures • FSN Capital Partners AS • Geller & Company • Gemini Israel Fund 

• GEN II Fund Services, LLC • General Atlantic LLC • GIMV N.V. • Global Infrastructure 

Partners • GrahamBishop.com • Grant Thornton • Grove Street Advisors LLC • GTCR • 

Hamilton Lane • Hamilton Lane Advisors, LLC • Hammond, Kennedy, Whitney & Co., Inc. • 

HarbourVest Global Private Equity • HarbourVest Partners • Headway Capital Partners LLP 

• Herkules Capital • Highland Capital Partners • HM Capital Partners 80 • Horsley Bridge 

Partners • Hudson Clean Energy Partners • Hunstman Gay Global Capital • Hunt Investment 

70 

Company • IFC Asset Management Company • IK Investment Partners • iLevel Solutions 

• Independence Capital Partners • Innova Capital Sp. z o.o. • Insight Equity 60 • International 

Private Equity and Venture Capital Valuations Board (IPEV) • Intervale Capital • Investment 

Café • IPES • Irving Place Capital • ISIS Equity Partners • J.P. Morgan • 50 KERN Partners Ltd. 

• Key Principal Partners Corp • Kirkpatrick Executive Search & Selection • Kodiak Venture 

40 

Partners • Kohlberg & Company • KPMG • KPS Capital Partners • Landmark Banyan • 

Langham Hall • LeverPoint Management, LLC • Lime Rock Partners 30• Littlejohn & Co. 

LLC • LNK Partners • LODH Private Equity AG • Lohnbach Investment Partners • Lumira 

Capital • Maryland Retirement System • McLagan • Mercer • Merlin Nexus 20 • Mid Europa 

Partners • MM & K • Monomoy Capital Partners • MVision Private Equity Advisers • Nautic 

10 

Partners, LLC • Netsoft USA, Inc. • New Capital Partners • New Mountain Capital • New 

Pacific Consulting • New Venture Partners • New Venture Partners • Newbury 0 Partners LLC 

• NewSpring Capital • NGP Energy Technology Partners • Northleaf Capital Partners • Novo 

A/S • NPI, LLC • Oak Hill Capital Partners • Omega Fund Management Limited • O’Melveny 

& Myers • Onex Corporation • Pacific Life Insurance • Paine & Partners, LLC • Pantheon 

Ventures • Park Street Capital • Performance Equity Management • Permal Capital 

Management • Pfingsten Partners LLC • PineBridge Investments • Pitango VC • Pomona 

Capital • Portland Private Equity • Proskauer Rose LLP • Providence Equity Partners • 

Quadrangle Group LLC • Quantum Energy Partners• Quintana Capital Group• RBC cees 

Fund Managers (Jersey)• RDV Corporation• Realty Financial Partners •Resource Capital 

Funds• RIT Capital Partners• Roundtable Healthcare Partners• RSM McGladrey• Russell 

Reynolds Associates• SG Hambros Trust Company• Silicon Valley Bank• Silver Oven• SJ 

Berwin• Sofinnova Partners• Square 1 Bank• Standard Chartered Bank• State Street• 

Stockdale Street• Summerhill Venture Partners• Sungard Investran• SV Life Sciences• 

Syncom Venture Partners• Tailwind Capital• The Aldenwood Group, LLC• The Bank of New 

York Mellon• The Blackstone Group International• The Carlyle Group• THL Credit• Thomas H. 

Lee Partners• Total Capital Partners• Tower Three Partners• Towers Watson• TPG Capital• 

Trilantic Capital Partners •TVM Capital• Valuation Research Corporation• Vantage Software• 

VCFA Group• Versant Ventures• Vista Equity Partners• Vitruvian Partners• Volition Capital • 

Voyager Capital • W Capital Partners • Wachovia Capital Partners • Walker Hamill Executive 

Search & Selection • Welsh, Carson, Anderson and Stowe • Willowridge Partners, Inc •WL 

Ross & Co. 

What What looming regulatory/tax change 

scares you you the the most? 

Registration 

with the SEC 

Europe’s 

AIPM directive 

Ban on 

pension/placement 

agent contact 

Higher tax on 

carried interest 

Healthcare 

legislaltion 

5% 

11% 

12% 

30% 

Do you believe that Congress 

will pass legislation to 

require private equity firms 

to register 

Yes 

No 

20% 

If no, have you been considering it, 

and what steps have you taken? 

Hired, or began the 

process to hire, COO 7% 

Attended training/ 

seminars on the subject 

Engaged legal counsel 

or a consultant 

24% 

80% 

69% 

42% 

Do you believe that Congress will pass 

legislation to require private equity 

firms to register? 

If no, have you been considering it, 

and what steps have you taken?

The two day forum will be held at the Concierge Conference Center 

780 Third Avenue, Concourse 2, New York, NY 10017 | (212) 735-0072 | www.conciergecenters.com 

Room booking options: 

Option A: 

There is a small room block at the Intercontinental 

The Barclay New York. We have arranged a special 

conference ($289.00 + tax) rate at the hotel. The 

hotel is a short walk to the Concierge Conference 

Center. 

Rooms are limited and are on a first-come-firstserved 

basis – early booking is strongly advised. 

To receive this rate you need to contact the hotel 

directly before May 31, 2010 and quote the following 

reference: PEI Conferences. 

InterContinental The Barclay New York 

111 East 48th St 

New York, NY 10017 

(800) 327-0200 

Option B: 

There is a second 

small room block at the Affinia 50. We have arranged 

a special conference ($229.00 + tax) rate at the 

hotel. The Affinia 50 is a short walk to the Concierge 

Conference Center. 

Rooms are limited and are on a first-come-firstserved 

basis – early booking is strongly advised. 

To receive this rate you need to contact the hotel directly 

before May 21, 2010 and quote the following reference: 

PEI Conferences. 

Affinia 50 Hotel 

155 East 50th Street 


(866) 233-4642 

www.affinia.com 

Sponsors 

TM

1. REGISTRATION - THE PEI PRIvATE fUND COMPLIANCE fORUM 

Delegate 1 

Delegate 2 

Mr/Ms/Mrs First Name Last Name Job Title Email 

Company Name:__________________________________________________________________________________________________________ 

Address:________________________________________________________________________________________________________________ vENUE DETAILS 

City:_________________________________ State:_______ ZipCode:________________ Country:_____________________ 

Tel:_____________________________ Fax:________________________ Email:_____________________________________________ Concierge Conference Center 

780 Third Avenue 

Concourse 2 


Phone: (212) 735-0072 

2. HOW TO REGISTER 

Website: www.conciergecenters.com 

Online: www.peimedia.com/compliance10 

Email: 

Simply e-mail your request for a place at the conference together with your preferred 

method of payment to Nicole.W@peimedia.com 

Fax: Send completed registration form to: +1 212 633 2904 

The registration fee includes: all forum 

sessions, refreshment breaks, lunches, 

cocktail reception and all handout materials. 

Telephone: 

Mail: 

Call Nicole Waldorf on: 

+1 212 633 2905 

Return completed registration form to: 

Registrations, PEI Conferences 


7th Floor 


3. PAYMENT DETAILS 

Please use this form as our request for payment. All registrations must be PAID IN FULL prior to the event. 

Please complete as applicable. 

EARLYBIRD DISCOUNT 

Received before Friday, May 14, 2010 

One Person $2150 

Two People $4000 

REGULAR PRICE 

Received after Friday, May 14, 2010 

One Person $2450 

Two People $4700 

Third and subsequent delegates are entitled to a 50% discount. Please contact our registration team for details. 

4. PAYMENT 

Payment can be made by American Express, Visa, MasterCard, Company Check or by wire transfer. 

Payments made by AMEX will be charged in US$. Full payment must be recieved prior to the event. If 

registering four weeks or less prior to the event, payment must be made by credit card. 

Check enclosed, payable to PEI Media Inc. 

By credit card 

American Express Visa Mastercard 

Name on card: 

Card number: 

Expiration date: 

Signature: 

Security code: 

CANCELLATION POLICY 

Any cancellation received more than fourteen (14) 

days prior to the forum will be subject to a charge 

of 50 % of the fee already paid or the full delegate 

rate, whichever is the lower. All cancellations must 

be made in writing (by letter, fax or email - proof of 

receipt will be required) to the relevant contact at 

PEI Media for that event. We regret that no refunds 

will be made for cancellations made within 14 days 

of an event and there will be no exceptions to this 

policy. Any cancellations received in writing less than 

fourteen (14) days prior to the date of the forum will 

receive a 100% credit to be used at another PEI event 

for up to 12 months from the date of issuance. 

Payment policy: Payments can be made by American 

Express, Visa, MasterCard or Company Check. 

Full payment must be received prior to the event. If 

registering 4 weeks or less prior to the event, you 

must pay by credit card. 

For more information regarding administrative policies 

such as complaint and refund, please contact Nicole 

Waldorf on +1 212 633 2905. 

Private Equity International is 

registered with the National 

Association of State Boards 

of Accountancy (NASBA), as a 

sponsor of continuing professional 

education on the National 

Registry of CPE Sponsors. 

State boards of accountancy have final authority on 

the acceptance of individual courses for CPE credit. 

Complaints regarding registered sponsors may be 

addressed to the National Registry of CPE sponsors, 

150 Fourth Avenue North, Suite 700, Nashville, TN 

37219-2417. Private Equity International is a New 

York registered CPE sponsor ID # 002022

PEI Media New York 


7th Floor 


T: +1 212 645 1919 

F: +1 212 633 2904 

PEI Media London 

Sycamore House 

Sycamore Street 

London 

EC1Y 0SG 

T: +44 20 7566 5444 

F: +44 20 7566 5455 

PEI Media Singapore 

11 Stamford Road 

#02-07 Capitol Building 

Singapore 178884 

T: +65 6838 4563 

F: +65 6884 9893 

www.peimedia.com/compliance10

The PEI Private Fund Compliance Forum - PEI Media

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