アストリアインベスターフォーラム
September 2012

Simultaneous Translation Provided
During Part I

Astoria Investor Forum
Friday, September 21, 2012
Venue: Gakushikaikan

Part I: Conference

From 13:00 (Registration Opens 12:30)

13:00 to 15:45 (simultaneous translation provided)

Short speeches shall cover topics such as asset class, market and market outlook
Time
All Audience Inclusive Event
Room 202
LAP
12:30 Registration Opens
0:30
0:05
13:00 Welcome & Orientation by Astoria Consulting
13:05
13:30
14:10

14:50

15:30

Keynote Address：Private Equity: A Sectoral Overview and Outlook by
Bruno E. Raschle, Adveq Management
Short Presentations on Income Strategies (Infrastructure, Mezzanine) by
Rob Gregor, Balfour Beatty Infrastructure Partners; and Barry Lau, Gen2 Partners
Short Presentations on Growth Strategies (Asian Growth Strategies) by
KB Chandrasekar, Asiabridge Capital; and Ketan Patel, Greater Pacific Capital
Institutional Investor Panel: Analyzing CalPERS’ New Allocation Bucket Investing –Will it work for investors in Japan?
Panelists: Hideya Sadanaga, Nissey Asset Management;
Noriyuki Morimoto, HC Asset Management; Yoshihiro Mine, Daiwa Fund Consulting;and Moderator: Joji Takeuchi, Brightrust PE Japan
Short BreakRoom 201

0:25
0:40
0:40

0:40

0:15

Part II: Institutional Investor Workshops/Reception 15:45 to 18:30
Session topics shall include detailed investment strategy, investment team and fundinformation & other
LP Workshop (Institutional Investor Only Sessions) （English-language Spoken）
Time
Growth Global
Growth by Regions
IncomeLAP
Asiabridge Capital –Room 307

Balfour Beatty
Infrastructure Partners –Room 306

0:45

Earlybird Venture Capital– Room 309

Gen2 Partners –Room 306

0:45

15:45

16:45
17:30

Adveq Management –Room 307

Cocktail Reception （All Audience Inclusive Event） Room 201

1:00

Part III: Invitation Only Event 18:30 to 20:30
18:30

Sit Down Dinner

Room 202

2:00* Note: Program shown above are subject to change without prior notice

Co-sponsors

Organized by201209AIF_ProgramEV0

Part I: Conference 13:00 to 15:45
12:30 Registration Opens
13:00 Welcome & Orientation
13:10 Opening Speech
A Sectoral Overview on Private Equity
Bruno E. Raschle
Founder & Executive Chairman,
Adveq Management
Bruno is responsible for defining the strategic
direction of Adveq and for the firm’s businessdevelopment in Asia. He is also a member of theInvestment Committee. Before founding Adveq in 1997, Bruno was thefounder and Managing Director of the MC Partners fund of funds
investment programs at Motor Columbus, Switzerland. Bruno’s
operational experience includes the management of start-up, turn-aroundand expansion opportunities in various industries on different
continents. Bruno holds an MSc in Construction Engineering from the
Swiss Federal Institute of Technology (ETH) and an MSc in Industrial
Engineering from Stanford University.
13:30
Short Presentations on Infrastructure &Mezzanine Strategies
Rob Gregor
Managing Partner
Balfour Beatty Infrastructure Partners
Rob is the Managing Partner of Balfour
Beatty Infrastructure Partners LLP and is
responsible for the overall management of theinvestment advisory business. Previously, Rob was Head of European
Infrastructure at AMP Capital Investors, where he was responsible formanaging the European infrastructure investment business, which he
was instrumental in founding in 2005. Rob has acted as a director on theboards of a number of infrastructure investments, including Compana
Logstica de Hidrocarburos, Angel Trains, Alpha Trains, Thames Waterand the Secondary Market Infrastructure Fund.
Barry Lau
Partner & CIO
Gen2 Partners
Mr. Lau is a co-founder and a Managing Partner ofGen2 Partners. He was previously Head of Fund
Derivatives Asia at BNP Paribas (HK) andmanaged a US$2 billion portfolio of collateralized loans. He was also
formerly Head of Fund Derivatives Asia at ABN AMRO (HK/LDN) focusedon creating PE funds. He was formerly a lawyer at Clifford Chance LLP,
London, focused on private equity. Mr. Lau co-authored the British
Venture Capital Association guidance notes as well as numerous trade
journals on venture capital investing in China. Mr. Lau obtained his law
degree from University College London.
14 :10

Short Presentations on Asian Growth Strategies

KB Chandrasekar
Founder & Chief Executive
Asiabridge
Mr. Chandrasekar founded Asiabridge Capital in2007, after a 30-year career mostly with HSBC. As
the former Head of Corporate Strategy and Development for HSBC, heoriginated and managed multiple acquisitions and pioneering award
winning JVs and strategic investments in excess of US$5B in financial
institutions across Asia; as well as formulated growth strategies for over
20 countries. Till recently, he was also a Senior Adviser, Asia-Pacific to
McKinsey covering strategy, new markets and business reviews forfinancial institutions and corporate groups. He is currently a member ofseveral boards of leading financial institutions in Asia and Europe.

(simultaneous translation provided)

Ketan Patel
CEO and FounderGreater Pacific Capital
Ketan is the CEO and Founder of Greater PacificCapital, an investment firm focused on the highgrowth markets of India and China. The Firm isdistinguished by its ability to originate powerfulideas and themes for countries, industries and companies. Previously
Ketan was a Managing Director in Goldman Sachs. He founded anddeveloped Goldman Sach's Strategic Group focused on StrategicCounsel to key global clients of the firm from the corporate, investing andgovernment arena. Prior to joining Goldman Sachs he was a Board
Member of KPMG, head of Business Transformation Strategy Consulting
and Implementation.
14:50
Institutional Investor Panel: Analysing CalPERS’New Allocation Bucket Investing – Will it work for investors
in Japan?
Hideya Sadanaga
General Manager & Head of ProductDevelopment , External fundInvestment & Cash Management
Nissay Asset Management Co.
Currently Hideya Sadanaga works out of Nissay
Asset Management, and responsible for planningand launching in-house and third-party managed products for institutionaland retail customers and also investing & monitoring for various thirdparty managed funds that range from traditional to alternative. Until
March 2011 he was Deputy GM for the Credit & Alternative Investment
Dept. of Nippon Life, where he oversaw and planned investments in PE,
HF, and credit funds. Previously, he had been instrumental inconstructing Nippon Life’s private equity portfolio, leading commitmentsof over $1B in numerous PE funds. Hideya graduated from the Universityof Tokyo Law (1990), Univ. of Michigan LL.M (1999)
Noriyuki Morimoto
Chief Executive Officer
HC Asset Management
Noriyuki Morimoto founded HC Asset Managementin November 2002. As a pioneer investment
consultant in Japan, he established the investment
consulting business of Watson Wyatt K.K. (Tokyo
Office) in 1990, where he was Director & Consultant for 13 years. His
responsibilities also included Benefit consulting and Financial Services
consulting. Prior to joining Watson Wyatt, he was responsible for foreign
fixed income investment, asset allocation and investment strategy at
Mitsui Life Insurance Co., where he managed assets for the company’s
variable life products and group annuities as a fund manager. He spent 2
and half years in London managing fixed income assets. He started his
investment career as Japanese equity analyst at Mitsui Life in 1983.
Bachelor of Arts(Philosophy), University of Tokyo (1981).
Yoshihiro Mine
Pension Fund Consultant
Pension Investing Consulting Dept.
Daiwa Fund Consulting
Originally joined Daiwa ResearchInstitute. In 1995 he was first assigned to systemdevelopment work on macro-economic financial
statistics data processing for securities companies. Since 2001, Mr. Mine
provides consultation work on defined benefit pension funds at thepension investing consulting department of Daiwa Fund Consulting.
Graduated with BS from Rikkyo University.

Part I: Conference

13:00 to 15:45 (simultaneous translation provided)

14:50 Institutional Investor Panel: Analysing CalPERS’New Allocation Bucket Investing – Will it work for investors
in Japan?
Moderator: Joji Takeuchi, CEO
Brightrust PE Japan
Mr. Takeuchi co-founded Brightrust PE
Japan in 2007. Brightrust conducts research on
Japanese private equity and provides investment
advisory to Japanese and non-Japanese
investors. Brightrust also sources secondary andco-investment opportunities for overseas investors. Prior to establishing

Brightrust, Mr. Takeuchi was a partner at Konomi, Inc., a boutiqueinvestment bank in Tokyo. Before that, he was a global co-head of
trading at General Re Financial Products, a subsidiary of a Berkshire
Hathaway Company General Re Corporation. After establishing GRFP
Tokyo in 1991 and GRFP Hong Kong in 1996, he was responsible for
GRFP’s Asia–Pacific business. He began his professional career at
Overseas Economic Cooperation Fund of Japan in 1983. Mr. Takeuchi
holds B.A. from Tokyo University and M.A. from Sydney University.

Part II: Institutional Investor Workshops 15:45 to18:30＆ Cocktail Reception （Presentations Made in English)

Time

Growth Global

Growth by Regions

IncomeRoom 307

Room 306

15:45
KB Chandrasekar
Founder & Chief
Executive
Asiabridge Capital
See Personal Bio Above(45 min)

Room 309

Room 307
16:45(45 min)

17:30(60 min)David Seex
Head of Asia Pacific
Adveq Management
See Personal Bio Below

Dr. Hendrik Brandis
Co-founder and Partner
Earlybird Venture Capital
See Personal Bio Below

Rob Gregor
Managing Partner
Balfour Beatty
Infrastructure Partners
See Personal Bio Above

Room 306
Barry LauAll Audience
Inclusive
Meeting Space
ProvidedPartner & CIO
Gen2 Partners
See Personal Bio
Above& Conor MacNamara
Partner
Gen2 Partners
See Personal Bio
Below

Cocktail Reception – including a short speech by Earlybird Venture Capital（All Audience Inclusive Event）

Speakers Bio (Breakout Sessions)David Seex, Head of Asia Pacific
Adveq Management
David Seex is Head of Asia Pacific at Adveq. In this role he is responsiblefor investor relations, marketing and business development in the region.
He is a director and responsible officer of Adveq Management Hong Kong
Limited. Before joining Adveq David was CEO of RAB Capital in Asia. Prior
to that he was Head of Citigroup Alternative Investments Asia, and was amember of the founding management team serving on both the division’s
management and operating committees. His main responsibility wasleading the build-up of the firm’s investor franchise in the region. David has
a BA in Latin and Ancient History from the University of Exeter and an MBAfrom Columbia Business School.
Dr. Hendrik Brandis, Managing Partner
Earlybird Venture Capital
Co-founder and partner of Earlybird; Board member of EVCA andpast chairman of the EVCA Venture Capital Platform Council. More than 17
years experience as investor and entrepreneur; focus on web/cloudenabled services and telecom. Most successful exits: element 5 to Digital
River (NASDAQ:DRIV); Dianoema (Milan: NOE.MI); dooyoo.de to Le

Guide.com S.A. Board member of B2X Care Solutions, nfon, andcarpooling.com; chairman of the board of simfy. Co-founder of GMM;
Partner with McKinsey & Co.; project manager with EADS
(Messerschmidt Boelkow-Blohm)
Conor MacNamara, Partner
Head of Business Development
Gen2 Partners Japan KK
Prior to joining Gen2, Mr. MacNamara was Asia
Co-Head of Credit & Alternative Marketing andJapan Head of Fund Linked Derivatives at ABN
AMRO Securities Tokyo. As the Co-Head Credit & Alternative Marketingin Asia, Mr. MacNamara was in charge of originating and structuring
structured credit products and alternative fund derivatives into Japan.
Prior to working at ABN AMRO, Mr. MacNamara was a director of
Structured Product Sales Asia & Middle East for Standard Chartered
Bank in Singapore and Dubai. Mr. MacNamara studied undergraduate
Commerce (B.Comm Hons) and went on to graduate with a Masters ofBusiness Studies (MBS Hons) in Banking & Finance from The University
College Dublin (UCD).

Part III: Invitation Only Dinner Event 18:30 to 20:30
Greetings by Lawrence Penn, III
The Camelot Group
A military officer turned financier, Lawrence Penn is a Managing Director at The Camelot Group, a Private Equity
Investment and Advisory firm that provides investment and advisory services to Fortune 2000 companies and institutional
investors worldwide. Since inception, The Camelot Group has executed over $10 billion in transactions and has managed
capital for institutions, governments, pension funds and family whose net worth cumulatively exceeds $500 billion. Mr.
Penn was previously an Investment Banker at Lazard and a Portfolio Manager in the Private Equity Group of JP Morgan
Investment Management (JPMIM) where he managed committed and invested capital and served on the Advisory Boardsof several private equity groups.

Astoria Investor Forum 2012
About Our Sponsors

Founded in 1997, Adveq is a leading asset manager investing in private equity
and real asset funds globally. It offers specialized investment solutions whichallow the firm’s clients to access select private market segments globally. To
date, Adveq has invested in more than 300 funds on behalf of its clients andgenerated consistent returns throughout economic cycles. Adveq’s client basecomprises institutional investors such as pension funds, insurance companies,family offices and other financial institutions located in Europe, North America andthe Asia-Pacific region. Many of Adveq’s investors are repeat, long-term clientswith whom the firm has developed a role as a trusted partner for private market
investing. Adveq has offices in Zurich, Frankfurt, New York, Beijing, Shanghaiand Hong Kong, as well as a representative office in Sydney.

Asiabridge provides capital for mid-sized companies with quality management
teams, across high growth sectors in Asia. Founding investors are blue chip
institutions from Asia and Europe with cumulative market capitalization exceeding
USD150bn and operations in over 35 countries. We benefit from the experienceand capabilities of our team across multiple geographies and sectors; besides
leveraging the network of our partners. We have a strong track record in sectors
such as financial services, healthcare, retailing, etc. With focus on capital growth,
portfolio companies have high quality management teams with ability to generate
growth for an acceptable risk profile - optimising risk-reward-liquidity.

Balfour Beatty Infrastructure Partners LLP (BBIP) is an operator-led infrastructure
investment firm, managed by a dedicated team of experienced infrastructure
investment professionals and supported by the global platform of a world-classinfrastructure services business. BBIP provides investment
services to investors in infrastructure assets in the energy, transport and utilities
sectors in Europe and North America

Established in 1997 Earlybird currently manages $700 million in assets and is aleading European venture capital firm active in technology venture investing.
Since its inception, Earlybird has invested in many companies which havesparked some of the most significant innovations in business and technology andresulted in large scale ($1bn+) IPOs and trade sales. Earlybird’s active portfolio
currently includes more than 20 companies in the consumer internet andenterprise services space such as B2X Care Solutions, Carpooling.com,
Crowdpark, Madvertise, nfon, Peak Games, Smava and Socialbakers. Further
information is available at www.earlybird.com

Astoria Investor Forum 2012
About Our Sponsors
Gen2 Partners is an independent Asian asset management firm with US$500
million AUM and 30 professionals based in offices in Hong Kong, Tokyo, Beijing
and Xiamen. Gen2 Partners is primarily focused on North Asia, managing both
liquid and private investments. On the private investment side, Gen2 Partners
has a very deep team with 6 people in the investment team based in Hong Kong,
2 senior advisors, 3 senior members in the Investment Committee and a 6
person servicing team based in Beijing and Xiamin. Gen2’s PE strategy is togenerate equity-like returns with credit-like downside protection, together with ashallow “J-Curve”.
Greater Pacific Capital (GPC) is an investment firm designed to capture
investing opportunities in the high growth countries of India and China, using theskills of an experienced core team originally from Goldman Sachs. In both its
target regions, GPC is distinguished by its approach: the firm finds and creates"special situations" from which it can create new value for its investors andinvestee companies. GPC's approach focuses on the track record andpersonality of entrepreneurs, the industrial logic of companies, the positioning inthe spectrum of opportunity, and risk and the price and terms of entry and exit.

The Camelot Group is an Investment and Advisory firm that provides
independent and sophisticated advice to institutions, corporations, governments,
and individuals in the Alternative Asset and Private Equity Industries. We focus
on long-term relationships, consistent advisory practices and precise executionof transactions. Our professionals have been trusted advisors to Corporations,
Institutions, Limited Partners, and General Partners around the globe. Our
Investment and Advisory practice focuses on the acquisitions of limited partnerinterests, portfolios of direct investments, and Corporate Assets in the
Alternative Asset and Private Equity markets. Our professionals, partners, andindustry contacts are our most valuable resources.

Handling of Personal Information & Disclaimer
Note: All delegates are required to have read, understood and are in agreement with the following “Guidelines ofHandling of Personal Information” and “Disclaimer” before proceeding to register in the Astoria Investor Forum.
Guidelines of Handling of Personal Information
This event is organized by Astoria Consulting, Inc. (The organizer) . The organizer understands all personal information obtained while organizing this conference isprivileged information and will be handled according to the following guidelines. 1)The organizer recognize the importance of protecting the privileged personal
information. It shall seek appropriate means and methods to collect, use, provide and entrusting the information; 2)The organizer shall prevent miss-use of personal
information including illegal access, loss, damages and alteration. The organizer shall seek and implement appropriate information security methods available, 3) The
organizer shall conduct intra-company wide education to achieve and improve such information protection; 4) The organizer agrees to abide by the rules pertaining to
information protection laws; 5) The organizer shall limit the use of personal information for the following specific purposes shown below: To send announcement of Astoriaorganized events; To conduct survey in order to improve the service contents of Astoria organized events; To send announcements of Astoria related events; and 6) The
organizer may share personal contact information within the Astoria group companies. However, the Organizer shall limit the application to work related usages.
Astoria group companies shall be in full compliance with the above listed guidelines.
August 2, 2012
Hal Morimoto, Managing Director, Astoria Consulting Inc.
Disclaimer

Astoria Consulting Inc. (Astoria), which is the organizing entity of Astoria Investor Forum, is not a licensed placement agent, broker dealer, market maker, investment banker, investment

advisor, analyst, or underwriter. Astoria invites fund managers to Astoria Investor Forum to give opportunities to speak in front of other participants strictly for
informational purposes only. Astoria neither recommends nor endorses any fund managers or funds they manage to any participants who attend Astoria Investor Forum.
Investing in alternative assets such as hedge fund, private equity funds or similarly structured investment funds is for qualified investors only and not the general public. No
warranty or guarantee of any kind, expressed or implied, is given regarding the accuracy, reliability, veracity, or completeness of the information provided at the Astoria
Investor Forum, and under no circumstances will the organizer of the conference be held responsible or liable for errors or omissions resulting in any loss or damage
caused or alleged to be caused by information provided by the participants at the conference, including but not limited to direct, indirect, incidental, special orconsequential damages caused by using the information. Presentation materials used for Astoria Investor Forum, which may include fund business information andgeneral data concerning investment performances of participating fund managers, are for informational purposes only. Every participating fund manager is required to be
in full compliance with Japanese laws and regulations and the fund managers are responsible for ensuring any part of their presentations is not construed as a solicitationor an offer to buy or sell any securities or related financial instruments nor an endorsement of any particular investment advisor firm or individual. Astoria receives a set
sponsorship registration fee as per published from every fund manager that participates in Astoria Investor Forum sponsors/speakers. The payment received by Astoria is
not intended for promotion or advertising of any fund managers.

Astoria Investor Forum Registration Form

FAX:03-6310-0778
Or send this information by email to: apef_admin@astoriacg.com
Step 1： Choose An Appropriate Business Type Shown Below:□ Pension Investor□ Pension Consultant, Rating Company□ Balance Sheet Investor – Qualified Institutional Financial Investors such as Banks and Insurance Co.,Gold Pass
Go to Step 3 & 4□ Financial Instrument Business (FIB)-Type 1□ FIBs-Type 2□ FIIBs (Brokerage Business)□ Discretionary Investment Managers (fiduciaries for pension investors)□ Investment Advisors□ Trust Banks □ Fund Managers (DIMs)□ Auditors□ Attorneys□ Other （please specify：＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿）

Platinum Pass
Preferred Guest Pass,
Cocktail & Dinner
Pass, Go to Step 2

Step 2: Please Choose An Appropriate Pass From Below:
Pass Types

Fees

Participating Events

Excl. 5% tax

Part-I Panel

Part-II LP Workshop/Cocktail

Part-III Dinner

US$900.00

○

○ *2

○

□ Gold Pass

Free Invitation

○

○

○

□ Preferred Guest Pass*1

Free Invitation

○

○

×*3

□ Preferred Guest Dinner Pass

US$180.00

××○□ Cocktail & Dinner Pass

US$360.00

×

Cocktail Reception Only○

□ Platinum Pass

Go to Step 3 & 4

Go to Contact
Details*1: You may apply this pass if you could enter into a potential collaboration with any of the conference sponsors. Please note the company name from which you wish toobtain a preferred guest pass – Astoria shall make arrangement for up to 2 individuals for each registering company: ＿＿＿＿＿＿＿＿＿＿＿＿＿＿＿*2: If you are a fund manager or a non-LP delegate, host company of the LP Workshop must approve your participation.
*3: Holders of “Preferred Guest Pass” must obtain Dinner Pass separately.

(MUST) Step 3: Please Select (✓) LP Only Workshops You Are Attending. Multiple Choice Possible.
Time

Track A: Growth

15:45-16:30
16:45-17:30□ Adveq Management

17:30-18:30

Track B: Growth by Regions

Track C: Income□ Asiabridge Capital□ Balfour Beatty Infrastructure Partners□ Earlybird Venture Capital□ Gen2 Partners

Cocktail Reception (All Audience Inclusive)(RSVP) Step 4: Sit Down Dinner from 18:30 – 20:30 (for those who have GOLD and PLATINUM Passes)□ Yes, I will participate.

□ No, I will not participate

Contact Details◆Note: All delegates are required to have read, understood and am in agreement with terms explained in the “Guidelines ofHandling of Personal Information” and “Disclaimer” before proceeding to register in the Astoria Investor Forum.
◆Full Name (MUST): ____________________________________________________________________◆Email (MUST):_______________________________________________________＠ _____________________________________________◆Company Name (MUST): ______________________________________________________________________________________________◆Dept. & Job Title: _________________________________________________________________________________________________________◆Address: _______________________________________________________________________________________◆Tel (MUST):_________________________________________________◆ZIP: __________________◆Fax: __________________________________________

Registration Deadline: September 14, 2012
Please send return this application form by fax （FAX:03-6310-0778） or by email （Email: apef_admin@astoriacg.com） to us.
Your registration certificate will be emailed to you about 1 week before the event date. Invoice will be sent to you immediately.
Please complete your payment before the event date. We will not reimburse your registration fee, but will accept a substituteperson to attend the event.
201209AIF_ProgramEV0

MEMO

Conference Venue: GAKUSHIKAIKAN
Breakout Sessions Will Be Organized on the 3rd Floor

309
307

2nd Floor

306

Main Conference Hall
Registration
Desk

Main Hall
Dinner Reception

Networking Coffee BreakCocktail Reception

About the Organizer
Astoria Consulting organizes educational conferences for the financial investors andpension investors in Tokyo since 2001. The flagship event is called Astoria Private
Equity Investment Forum which was launched in September 2002. Following a
successful conclusion of the Astoria Investor Forum (AIF) which was a joint
organization between Astoria and AL-IN publication, Astoria has launched a newseries of conference called Astoria Investor Forum since January 2012 to further
develop educational and networking opportunities between institutional investors
and fund managers in the alternative assets.
Astoria Consulting, Inc.
Contact: Hal Morimoto Email: apef_admin@astoriacg.com
Otemachi First Square Building East 4th Floor, 1-5-1 Otemachi, Chiyoda-ku, Tokyo 100-0004, Japan
Tel: 03-5219-1438
Fax: 03-6310-0778