The document is an agenda for a co-investment forum to be held in Melbourne on April 8, 2011. The agenda includes sessions on the definition of co-investment, case studies of recent global co-investment deals, sources of co-investment deal flow, lessons learned from co-investments, and opportunities for social impact co-investments. There will also be a panel discussion and opportunities for attendees to submit potential co-investment deals. The event is organized by Dealers' Group and aimed at private investors and family offices.

1. Co-Investment Forum
DIreCt opportunItIes For prIvate CapItal
 Melbourne 8 aPril 2011 hilTon on The Park
early birD 18 MarCh 2011
 Private capital perspectives on co-investing
 Triumphs and horror stories
 Club deals vs institutional co-investment
 Private equity, property and other opportunities
 The X-factor – sources of deal flow
 Dis-intermediation – a global trend?

2. AGENDA IFM have been involved in co-
investments in very large deals for
Real estate co-investments –
lessons and opportunities
9.00am some time, and are now looking at
using their expertise for deals of all Anthony Kingsley, Morgan Stanley
sizes working with private investors Smith Barney
WHAT DOES “CO-
as well as institutions.
INVESTMENT” REALLY Anthony has significant experience in
MEAN? : DEFINITION Australia and around Asia in real estate
AND BACKGROUND 10.15am investments, and has worked on large
property co-investments with private
As Co-Investments become more Coffee capital co-investing alongside.
popular and more widely available to
private investors, it is helpful to review PANEL OF JUDGES
where the concept came from and what 10.45am A panel of investors and their
its original purpose was.
representatives will cast a critical
THE X FACTOR –
For the purposes of this meeting we eye over these presentations, ask
THE DEAL FLOW questions and make judgements.
also need an agreed definition of Co-
investment, which will be laid out in This session will look at a series of
this session. co-investment projects and where
they have been sourced from. We will
12.00pm
• History of Co-Investment deals
profile a series of hypothetical and
• Different Co-Investment structures
THE DEVIL IS IN THE
real cases and questions will be tabled
(alongside funds, direct club deals from our panel of investors and asset DETAIL, ALWAYS…
and syndicates) consultants. • A critical look at Co-Investment
rights and responsibilities
• Asset classes suited to co-investment
SHORT PRESENTATIONS
(and those that are not) Speaker tbc
• Our definition of co-investment for Recent global co-investment
this forum case studies in technology
and media
Tony Berg AM, Director,
Gresham Partners Rajeev Natarajan, Executive Director,
Goldman Sachs
Tony Berg is a director of Gresham
Partners and Chairman of Gresham Raj has worked on multiple co-
Property. Tony has a long history in investment deals for Goldmans during
Australian business and finance, his tenure there, including recently a
including being the first CEO of very high profile and complex global
Macquarie Bank (1985-1994) and co-investment deal.
CEO of Boral Ltd. (1994-2000).
Global family office
co-investments
9.30am 12.15pm
Fintan Maher, Macquarie Private Bank
WHY AND HOW TO Lunch
Fintan spent 8 years managing the
CO-INVEST? growth of a large family office based
This session will focus on two questions in Ireland. During that time the family
and will address each one separately. increasingly focused on large
Firstly, we will discuss the pros and co-investments with other family
cons of coinvesting, reflecting on offices around the globe.
not only the characteristics of the
deals, but also the investors who Co-investments into SMEs –
undertake them. Secondly, we will triumphs and disasters
discuss the key aspects of undertaking
Greg Smith, Champ Ventures
co-investments from deal sourcing,
to due diligence, to investment, to Greg is a senior participant in the
monitoring and then finally to exit. Australian private equity scene and is
developing co-investment opportunities
Wayne Phillips,
Investment Director, IFM for clients on both sides.

3.  thanK You
1.30pm 2.40 pm
We would like to thank the following
faMilY office coffee individuals and organisations for their
perspective: hoW assistance in organising this forum:
far shoulD We 3.00pm River Capital, Gresham Partners,
Myer Family Company, Industry Funds
DisinterMeDiate?
Management, Champ Ventures,
• Are club deals the best way for social investMent Morgan Stanley Smith Barney,
family offices to invest? case stuDY Mathew Jeremy of Caravel Consulting
Services, Goldman Sachs and many
• How much in-house expertise do Increasingly, philanthropically minded
others who have assisted in the
we need? private investors are engaging in co-
production of this event.
investments into social enterprises and
• Institutional co-investing – does it
other activities with social impact.
suit family offices?
 about this foruM
• What about property?
3.25pm Dealers’ Group
speaker tbc
the Deal floW #2: Dealers’ Group is a multi-disciplinary
Where are the next membership group for family offices
1.50pm co-investMent and their key advisers. We facilitate
the sharing of knowledge and insights
faMilY offices: lessons opportunities through a network of peers.
froM co-investinG coMinG froM?
There is limited space available at this
Our panel of private investors share In this session we invite all participants forum and a number of places are
their own stories and lessons learned to submit co-investment opportunities reserved for large family offices and
from successful and less successful in advance of this forum. We will review other Dealers’ Group members. We
co-investment deals. the deals and present a selection of apologise in advance if we are unable
them, with names changed if preferred. to accommodate your attendance.
• Club deals versus private equity fund
Attendees will have the opportunity to
co-investments Dealers’ Group
ask questions directly or anonymously.
MeMbership
• Change in environment for illiquid
investments post-GFC benefits incluDe:
4.00pm preferred pricing:
• Difficulty of competing for deals
where there are institutions also sesion tbc Discounted attendance to all events
bidding private client adviser newsletter:
Technical monthly newsletter
• All Family Offices want to pick and
choose but with different structures;
4.30pm Dealers’ Group website access:
private investors are no longer happy Drinks and canapés Access to papers, research,
to invest in a “cash box” unless it’s a presentations and audio files
REALLY special manager Webinars:
• Stick to areas where you have Monthly webinars direct to your
some knowledge or competence desktop
private lunch meetings:
• The need for direct holdings and
Held quarterly in each state
adequate control
trusted adviser peer exchange
• Are pooled unit trusts for illiquid programme:
assets dead? Is an active learning program for
advisors to wealthy families, family
barry carp, Managing Director,
offices and high net worth individuals
river capital
Membership is open to family
peter hodgson, ceo,
offices and their key advisers.
Myer family company
For more information contact
byron Ko, alter Ruth McKenzie on 02 9555 4203
or ruth@dealersgroup.com.au

4. to RegisteR R
egistRation FoRm
Web www.dealersgroup.com.au
Fax 02 9810 6746 yes, please RegisteR me
mail Dealers’ Group
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