Dennis K. Berman, Marketplace Editor, The Wall Street Journal
     Marc B. Moyers, National Sector Leader, Private Equity, KPMG LLP

Leading professionals from four diverse categories of investment give their perspectives in these back-to-back, one-on-one interviews.

8:45 am - 9:00 am
Changing Landscape For Large Market PE: An Interview With Goldman Sachs
Fewer deals and smaller funds have impacted all of the big buyout shops.  In this one-on-one interview, Rich Friedman, head of merchant banking for Goldman Sachs, will give his perspective on how large firms have shifted their businesses to do more lending, how his firm is positioned for a post-Volcker Rule environment and the implications for the industry in the future.
    
     Featured Speaker:
     Richard A. Friedman, Global Head, Merchant Banking, Goldman Sachs & Co.
     Interviewed by:
     David G. Barry, Managing Editor, Dow Jones & Company
     Shasha Dai, Special Writer, Private Equity Analyst, Dow Jones & Company

9:00 am - 9:15 am
Standing Out In The Crowd: How To Gain An Edge And Find Returns In The Middle Market
With some mega-buyout firms stumbling in recent years, the middle market is seen by many investors as the best area for success and returns. Steve Klinsky, founder and CEO of New Mountain Capital, discusses how a firm can build lasting institutional competitive advantages in this sector, and how it can stand out from the crowd.

     Featured Speaker:
     Steven B. Klinsky, Founder & CEO, New Mountain Capital
     Interviewed by:
     David G. Barry, Managing Editor, Dow Jones & Company
     Laura Kreutzer, Assistant Managing Editor, Private Equity Analyst, Dow Jones &
     Company

9:15 am - 9:30 am
The Evolving World Of Venture Capital & Technology: How Kleiner Perkins Sees It     
The venture industry is undergoing significant change: the pace of technology has quickened, and with it the needs of entrepreneurs are evolving, making the industry more exciting – and more complex – than it’s ever been.  Ted Schlein, a managing partner with famed firm Kleiner Perkins Caufield & Byers, discusses those issues, what it takes to be a successful investor and company-builder in this environment, and provides perspective on the firm’s investment focus and philosophy.

     Featured Speaker:
     Ted Schlein, Managing Partner, Kleiner Perkins Caufield & Byers
     Interviewed by:
     David G. Barry, Managing Editor, Dow Jones & Company
     Russell Garland, Editor, Newswires, Dow Jones & Company

9:30 am - 9:45 am
Fund of Funds: What Role Will They Play For LPs And GPs?
Industry veteran Bon French helped create the fund-of-funds industry more than 30 years ago; but in recent years, the industry has been under attack as LPs are investing directly.  The CEO of Adams Street Partners will discuss his firm’s investment strategy, and also provide insight into what this means for the future of fund of funds and how limited partners are investing today. 

     Featured Speaker:
     T. Bondurant French, Chief Executive Officer, Adams Street Partners
     Interviewed by:
     David G. Barry, Managing Editor, Dow Jones & Company
     Hillary Canada, Reporter, Private Equity Analyst, Dow Jones & Company

AXA Private Equity stunned the industry earlier this year when it announced that it had raised $8 billion for buying secondary stakes.  But in the view of AXA Private Equity, there will be plenty of opportunity to deploy such capital, given the growing pressure that banks are under to divest themselves of private equity stakes.  Benoit Verbrugghe, who heads up the firm's North American activities, sits down to discuss AXA Private Equity’s view of the industry, the secondary market and the opportunities that it sees in the coming year.
    
     Featured Speaker:
     Benoit Verbrugghe, Senior Managing Director & Head, North America, AXA Private
     Equity
     Interviewed by:
     Laura Kreutzer, Assistant Managing Editor, Private Equity Analyst, Dow Jones &
     Company

Uncertainty over the economy, financing and valuations has led to a decline in private equity deals in 2012.  Bill Conway, co-founder & co-CEO of The Carlyle Group, came out earlier this year saying that the uncertainty actually made it a great time to invest.  Does he still believe that?  Find out when he sits down for an interview to give his take on the deal investing climate, the sectors and geographies that make sense and how he and the firm are finding life since Carlyle went public.

     Featured Speaker:
     William E. Conway, Jr., Co-Founder & Co-CEO, The Carlyle Group
     Interviewed by:
     Dennis K. Berman, Marketplace Editor, The Wall Street Journal

INSTITUTIONAL
Going Direct: The Lessons Institutional Investors Must Heed
Limited partners, under increasing pressure to generate greater returns, are exploring their options beyond fund investing.  LPs are now doing secondary deals, making co-investments, and even investing in deals directly.  What obstacles might LPs encounter in these areas, and what do they need to know to succeed?

     Speakers:
     Tanya Carmichael, Portfolio Manager, Teachers' Private Capital, Ontario Teachers' Pension Plan
     Steve Moseley, Founder, Rockland Management
     Solomon Owayda, Managing Director, Siguler Guff & Company
     Allan J. Vartelas, Managing Director, Private Equity Group, Aetna
     Moderator: Hillary Canada, Reporter, Private Equity Analyst, Dow Jones &
     Company

FUNDRAISING
What Does It Really Take To Win Over LPs?
Raising a fund remains a challenge for many private equity and venture capital firms.  In this session, you’ll gain insight into what it takes to get limited partners to commit to a fund.  In this session, you’ll hear directly from a group of LPs about what questions they are asking, and the answers (as well as returns) they are seeking.

     Speakers:
     Robert Durden, Managing Director, Private Assets, Morgan Creek Capital
     Management
     Gordon Hargraves, Partner, Private Advisors
     Michael Kramer, Managing Director, Neuberger Berman
     Jeff McNelley, Principal, Allstate Investments
     Moderator: David G. Barry, Managing Editor, Dow Jones & Company

MIDDLE MARKET
The Deal: Best Practices & Cautionary Tales From The Middle
Why did a firm decide to buy the company it did?  How did it evaluate the market and the management team?  Was the deal structured correctly?   Leading middle market investors will answer these questions and more, as they dive into some of their firms’ recent transactions.

     Speakers:
     Michael Falk, Managing Partner, The Comvest Group
     John Roth, General Partner & President, Freeman Spogli & Co.
     Carl D. Thoma, Managing Partner, Thoma Bravo
     Moderator: Shasha Dai, Special Writer, Private Equity Analyst, Dow Jones &
     Company

VENTURE CAPITAL
The Great Seed Experiment: Where Does It Go From Here?
Over the past several years, angels, incubators and VC firms invested in a plethora of early-stage companies, but today it is becoming clear that there may not be sufficient capital to allow these companies to take the all-important “next step.”  What does this mean not only for the future of these companies, but also for early-stage investment as a whole?

     Speakers:
     Rick Heitzmann, Founder & Managing Director, FirstMark Capital
     Todd Hixon, Managing Partner, New Atlantic Ventures
     Jon Sakoda, Partner, New Enterprise Associates
     Jo Tango, Partner, Kepha Partners
     Moderator: Zoran Basich, Assistant Managing Editor, Private Markets, Dow Jones &
     Company

DISTRESS
Europe: Sizing Up The Opportunity
Since late 2009 when the European debt crisis began, distress investors have seen opportunity, circling troubled companies and swooping in to buy debt and real estate.  As uncertainty continues to cloak Europe, does opportunity still exist in the distress debt market, and how will recent investments play out?

     Speakers:
     Michael Duran, Managing Director, Millstein & Co.
     Michael Green, CEO & Managing Director, Tenex Capital Partners
     Tripp Smith, Senior Managing Director, GSO Capital Partners
     Moderator: Kiel Porter, Reporter, Private Equity News, Dow Jones & Company

Sponsored by AlixPartners, LLP
The Search For The Silver Bullet: Making PE Operating Groups Effective As Possible
Most PE firms currently have a structure in place to improve the operations of their portfolio companies post-acquisition.  However, different models are used - from a strong bench of operating resources, to a few senior operating executives, to outsourced advisors.  Many are still experimenting with the structure of these Ops groups in order to make them effective.  This panel will explore a few of these strategies and how firms are seeking to improve business performance. 

     Speakers:
     Gary Matthews, Managing Director & Operating Partner, Morgan Stanley
     Gregory Segall, Chairman, President & CEO, Versa Capital Management
     Bob Taylor, Managing Partner, Advent International
     Moderator: Jay Marshall, Managing Director, AlixPartners, LLP

Sponsored by BMO Capital Markets
What Are Corporations Seeking?
With the IPO window essentially closed, a sale to a corporation is the primary means for private equity and venture capital firms to exit portfolio companies.  But what are corporations looking for today?  What increases interest and what raises red flags?  Are corporations finding that deals are marketed correctly?  What are the key issues and strategies employed during negotiations?  This panel will address these topics and help you get a handle on how to think about selling companies now – and in the future.

     Speakers:
     David Barr, Managing Director, Warburg Pincus
     Jeff Brennan, Director, Corporate Transactions, Pitney Bowes
     Mark Gottlieb, VP, Treasury and Business Development Finance, Endo Health
     Solutions
     Rich Lawson, Co-Founder & Managing Partner, Huntsman Gay Global Capital
     Moderator: Scott Humphrey, Managing Director & Head, U.S. Mergers &
     Acquisitions, BMO Capital Markets

Sponsored by Covington & Burling LLP
Let’s Talk About Terms
Terms are not the main reason that an LP commits to a fund.  But the right terms can certainly help get the discussion and the relationship going in the right direction.  Hear insight on the terms getting the most attention,  and the ways in which LPs and GPs are approaching them.

     Speakers:
     Brian Brennan, Managing Director & Deputy General Counsel, PineBridge
     Investments
     William Chu, Vice President, Zurich Alternative Asset Management   
     Moderator: Carolyn Taylor, Partner, Covington & Burling LLP

Sponsored by KPMG LLP
Navigating The Changing Tax Landscape: What Can & Should PE Firms Do?
The coming year could present significant tax challenges to private equity firms and their partners.  Absent any action by Congress, the Bush tax cuts are scheduled to expire.  The Buffet rule is taking hold.  The Foreign Account Tax Compliance Act, or FATCA, will present some challenges for PE firms both in the U.S. and abroad.  And, of course, there is always interest in taxing carried interests at a higher rate.  In this session, led by KPMG, these issues and others will be addressed along with takeaways on what firms and partners can and should be doing to deal with these changes.

     Speakers:
     Jonathan Rather, General Partner & CFO, Welsh, Carson, Anderson & Stowe
     Catherine Skokowski, Senior Manager, KPMG LLP
     Moderator: Glenn Mincey, Principal, National Tax Leader, Private Equity, KPMG
     LLP

Perspectives On The Industry's Past, Present and Future
The editors of Private Equity Analyst have selected Berkshire Partners, Bessemer Venture Partners and Commonfund Capital as the 2012 inductees into the Private Equity Hall of Fame.  Susan Carter of Commonfund, Kevin Callaghan of Berkshire and Rob Stavis of Bessemer will be on hand to receive their firm's award and will then discuss the state of the industry and what lies ahead for it.

     Remarks: Jeffrey S. Amling, Senior Managing Director & Chief Marketing Officer,
     FTI Consulting

     Speakers:
     Kevin T. Callaghan, Managing Director, Berkshire Partners
     Susan Carter, President & CEO, Commonfund Capital
     Rob Stavis, Partner, Bessemer Venture Partners
     Interviewed by:
     David G. Barry, Managing Editor, Dow Jones & Company

INSTITUTIONAL
Judging The Secondary Market: Should You Sell Or Buy?
Activity in the secondary market has picked up dramatically in recent years as financial institutions adhere to new rules by shedding their investments.  Increasingly, traditional investors are also looking to the secondary markets to shed unwanted funds and buy stakes in ones that they’ve not held previously.  The panelists give their insights on current prices in the marketplace, the deals getting done, and how LPs should judge the marketplace.

     Speakers:
     Sebastien Burdel, Principal, Coller Capital
     Ian Charles, Partner, Landmark Partners
     Barry Miller, Head, Private Equity, New York City Retirement Systems
     Chris Perriello, Partner, AlpInvest Partners
     Moderator: Laura Kreutzer, Assistant Managing Editor, Private Equity Analyst, Dow
     Jones & Company

FUNDRAISING
Raising Abroad: Where Should You Go?
Firms raising funds are increasingly seeking investment from new private equity firms in the Middle East and Asia – but how do you catch their eye?  In this session, our panelists will tell you where LPs are showing the most interest and what you can do to attract their attention.

     Speakers:
     Thomas Bradley, Partner, StepStone Group
     Christian R. Brønden, Vice President, ATP Private Equity Partners
     Martha Cassidy, Managing Director, Capital Dynamics
     Paul Parshley, Managing Director, Investor Relations, Energy Capital Partners
     Moderator: Michael Wursthorn, Reporter, Private Markets, Dow Jones & Company

MIDDLE MARKET
Cross-Border Transactions: Making Them Work
Opportunities for firms or their portfolio companies to buy companies in Canada, Latin America, Europe and Asia abound, but how to do it right is no easy task.  What extra due diligence is required?  What should you ask your lawyers?  How do you comply with international regulations?  What cross-cultural issues need to be considered when integrating the business?  Our panelists outline the steps that firms should take before and after a deal is made.

     Speakers:
     Steve Cowan, Managing Director, 57 Stars
     Terrence Mullen, Partner, Arsenal Capital Partners
     Crevan O'Grady, Partner, Growth Capital, 3i Group
     Mitch Truwit, Partner & Co-Head, Financial and Business Services, Apax Partners
     Moderator: Nick Elliott, Managing Editor, Private Markets and Newsletters, Dow
     Jones & Company

VENTURE CAPITAL
The Investment: Why VCs Did What They Did
In this session, a group of top VCs will dissect some of their firms’ recent deals: What promise did they see in the idea?  What competition did they face? How did they value the deal?  And where do they see this company going?

     Speakers:
     Phil Black, Co-Founder, True Ventures    
     Michael Brown, General Partner, Battery Ventures
     Gary Little, Partner, Morgenthaler Ventures
     Bryce Youngren, General Partner, Polaris Venture Partners
     Moderator: Russell Garland, Editor, Newswires, Dow Jones & Company

GOVERNMENT
Readying For A SEC Visit
Dodd-Frank forced many private equity firms to register with the SEC, at considerable time and cost.  But whether they invested enough in compliance, or did it right, will not become clear until the first visit from the SEC. The panel discusses the process, what the SEC may or may not be looking for, and the steps that your firm can and should take to get ready.

     Speakers:
     Jennifer Boyce, Chief Compliance Officer, The Riverside Company
     Robert B. Kaplan, Partner, Debevoise & Plimpton LLP
     David A. Vaughan, Partner, Dechert LLP
     Moderator: David G. Barry, Managing Editor, Dow Jones & Company

Sponsored by BMO Capital Markets
Exploring The Changing M&A Landscape, Including Deconsolidation, Within The Consumer Industry
Consumer M&A activity has moderated over the last year as companies assessed ongoing uncertainties -the bifurcated consumer, channel shifting, global trends and commodity volatility – while facing market pressure for growth, continued pressure  to cut costs and use of significant cash balances. Against this backdrop, strategies are being employed to address these uncertainties and drive growth in the consumer space, including the involvement of private equity.  This panel will explore the reasons for and opportunities that result from, large companies deconsolidating or rationalizing their brand portfolio to focus resources on core assets. 

     Speakers:
     Brian Buchert, Director, Corporate Strategy and M&A, Church & Dwight
     Christopher J. Klein, Chief Executive Officer, Fortune Brands Home & Security
     Dan Malina, Chief Executive Officer, 4054 Strategic Solutions
     Moderator: Karen Martin, Managing Director, Mergers & Acquisitions, BMO Capital
     Markets

Sponsored by FTI Consulting
Mitigating Risk With A Portfolio Company
There are many ways to improve portfolio companies, whether it’s through a management change, expanding into new markets or simply cutting costs.  But how firms go about it can be critical, especially if things don’t go as planned for the company.  In this session led by FTI Consulting, you’ll hear some of the things that you should be thinking about in working with portfolio companies and the steps that you should take to ensure that portfolio companies are not taking too much risk.

     Speakers:
     Timothy R.M. Bryant, Partner & General Counsel, Adams Street Partners
     Cory Eaves, Managing Director, General Atlantic
     Christopher Manning, Partner, Trilantic Capital Partners
     James H. Mutchnik, Partner, Kirkland & Ellis LLP
     Moderator: Michael R. Pace, Senior Managing Director, FTI Consulting

Sponsored by W Capital Partners
Value Creation And Managing Liquidity For Later-In-Life Partnerships
LPs are getting more alarmed about so called zombie funds, partnerships that slip beyond the traditional 10 year target for complete liquidity.  GPs are challenged to meet distribution targets and optimize capital reserves.  There are 3,000 funds reaching year 12 in the next three years.  Given market volatility and maturing of the PE industry, is the 10 year fund model broken?  This panel will discuss market trends and a range of new strategies for proactive portfolio management including structured secondaries, direct secondaries and outsourced program management.

     Speakers:
     W. Dana LaForge, Partner, Brera Capital Partners
     Donna Smolens, Managing Director, Portfolio Advisors
     David Wachter, Managing Director, W Capital Partners
     Moderator: JonCarlo Mark, Founder, Upwelling Capital Group

In 2011, the PE Industry pumped an estimated $25 billion into energy deals, nearly triple the amount from 2010.  Signs are pointing to even higher numbers for this year.  Will these bets pay off?

     Speakers:
     Tim Day, Managing Director, First Reserve Corporation
     David I. Foley, Senior Managing Director & CEO, Blackstone Energy Partners
     Daniel R. Revers, Managing Partner, ArcLight Capital Partners
     Somit Varma, Managing Director, Warburg Pincus
     Moderator: Jonathan Shieber, Reporter, Dow Jones Private Markets and
     Newsletters

Sponsored by FTI Consulting
Your portfolio company has done well enough that it’s ready to go public.  But will this experience be everything that the company’s management, your firm and your partners hope it will be?  Will investors truly understand the company’s story both before and after the IPO?  In this special session led by FTI, you’ll get a view of not only the outlook for taking companies public but also an understanding of what it takes to launch a successful IPO, common pitfalls and how to position the company for success afterwards.

     Speakers:
     Doug Baird, Chairman, Equity Capital Markets, Citigroup Global Markets
     Joseph Hall, Partner, Davis Polk & Wardwell LLP
     Elizabeth Saunders, Senior Managing Director, FTI Consulting
     Moderator: Elliot Fuhr, Senior Managing Director, FTI Consulting

Having a private equity veteran as a presidential nominee has put a spotlight on an industry that usually doesn’t find itself in the public eye.  In this session, our panel will analyze how the Romney effect may alter tax policy, transparency and dealmaking.

     Speakers:
     Gordon M. Goldstein, SVP, Public Policy and Communications, Silver Lake
     Steve Judge, President & CEO, Private Equity Growth Capital Council
     Kate D. Mitchell, Managing Director, Scale Venture Partners
     Geoffrey S. Rehnert, Co-CEO, Audax Group
     Moderator: John Bussey, Assistant Managing Editor & Executive Business Editor, The Wall Street
     Journal

Join 7 other participants, plus a subject expert over breakfast for a 40 minute deep-dive into the area of your choice. Topics include:

• Africa: Just How Large An Opportunity Does It Present?
  Host: Hurley Doddy, Founder & Co-CEO, Emerging Capital Partners
• Brazil: Is A Shakeout Eminent?
  Host: Peter de Svastich, Managing General Partner, GEM Global Emerging Markets
• China:  What Lies Ahead For Its Economy & For Investors?
  Host: G. R. Sam Seraphim, Managing Partner, WoodLake Group
• Education: What Must Investors Learn About This Sector?
  Host: Peter J. Campbell, Managing Partner, Education Growth Partners
• Emerging Markets: What Does It Take To Balance Risk With Opportunity? (LPs Only)
  Host: Steve Cowan, Managing Director, 57 Stars
• Europe: What’s Next & What Does It Mean For PE Firms?
  Host: Kiel Porter, Reporter, Private Equity News
• Facebook: What Impact Will Its IPO Leave On The Venture Scene?
  Host: Rick Heitzmann, Founder & Managing Director, FirstMark Capital
• IR Best Practices
  Host: Susannah Carrier, Managing Director, Silver Lake
• LP-GP Dynamic: Where Is It Headed?
  Host: Sheryl Schwartz, Managing Director, Perseus LLC
• Putting In Place An Impactful ESG Program: What Does It Take?
  Hosts: Daniel G. Jacobs, Senior Associate, Clayton, Dubilier & Rice
  Thomas Murray, Managing Director, Corporate Partnerships, Environmental Defense Fund
• The Election: How Will It Impact PE Firms?
  Host: Steve Judge, President & CEO, Private Equity Growth Capital Council
• The Middle Market: To Find Success Firms Must…?
  Host: Frank J. Rodriguez, Managing Director, JLL Partners
• What's Next For Mobile?
  Host: Russell Garland, Editor, Newswires, Dow Jones & Company

     Dennis K. Berman, Marketplace Editor, The Wall Street Journal

Apollo Global Management has always had a flexible approach to investing, deploying capital opportunistically across corporate balance sheets, enabling it to execute a wide range of transactions from making acquisitions to investing in distressed debt.  It is an approach that has served Apollo well since its founding.  But what does the firm see moving forward, especially with uncertainty continuing around the world?  Is Europe the place to be in the next 12 months?  Is it better to be a seller than a buyer?  Is it better to be a lender than a buyer? Josh Harris, senior managing director of Apollo joins us to discuss the firm's strategy and where he sees attractive investment opportunities in these uncertain times.

     Featured Speaker:
     Josh Harris, Senior Managing Director, Apollo Global Management
     Interviewed by:
     Shasha Dai, Special Writer, Private Equity Analyst, Dow Jones & Company

Life has changed over the past five years for the large private equity firms.  The days of $15 billion funds, $20 billio