The credit crisis and recession have constrained financing options and lowered market multiples, creating difficulties with existing investments as well as opportunities.  Private equity firms can no longer rely on the financial markets to generate returns and are focusing instead on maintaining and improving the operational performance of their portfolio companies.
 
The panel will seek to answer:
• What steps can be taken to improve the performance of portfolio companies?
• What changes, if any, will this renewed focus on operational excellence have on the structure of private equity deals and returns expectations?
 
Who would benefit from attending the event?
• Private equity, venture capital and other alternative asset investors looking for suggestions on managing and improving the performance of their portfolio companies.
• Gatekeepers, pension fund managers and advisors that want to know what role operational improvement can play in private equity returns.
• Anyone seeking a greater understanding of private equity or company operations.
 
The panel includes representatives from some of the most respected players in the industry. CBS alumni are well represented in this industry and on our panel. Please join us to get their perspective on this important topic.
 
Moderator: Professor Laura B. Resnikoff, CBS ’76, has been a member of the Columbia Business School faculty since 1991 where she is the Director of its Private Equity Program.  Professor Resnikoff has taught a series of electives, including Turnaround Management and the Master Class in Restructuring, one of the School's inaugural Master Class offerings. Professor Resnikoff joined the faculty after a robust career with both large scale corporations and private equity entities. During her Columbia Business School tenure, she has consulted with corporations in a variety of industries on all aspects of organizational, operational and financial restructurings.
 
Panelist: Jim Smith is a Partner at PwC’s Advisory M&A Services group. His experience includes over 22 years of manufacturing, distribution, and customer service experience as well as project management and IT strategy development. He has completed over 800 M&A due diligence projects, including advising clients on the identification of post merger cost reductions and delivering a combination of back-office, IT and operational improvement projects. Prior to joining PwC, Mr. Smith was a principal consultant at Oracle Corporation and also held information technology and operations management positions at Staples, Bose Corporation, Data General and General Electric Company.
 
Panelist: Andrew C. Taub, CBS ’96, is a Partner at Catterton Partners, a consumer focused private equity firm. Prior to joining Catterton, he was Vice President at Nantucket Holding Company, a merchant bank specializing in the acquisition and management of troubled companies, as well as the consolidation of fragmented industries. Prior to joining Nantucket Holding Company in 1993, Mr. Taub was a Senior Associate in Coopers & Lybrand’s Corporate Finance Group.
 
Panelist: Damon Ball is a Managing Director at AEA Investors, a pioneering firm in private equity founded in 1968 and known for relationships with operational executives. Mr. Ball joined AEA in 2005 as a member of its Small Business Fund team. Prior to joining AEA, Mr. Ball was a Managing Director with Saratoga Partners, where he focused on making industrial investments. Prior to joining Saratoga in 2001 as a Senior Advisor, he was a Managing Director at Sextant Partners, an investment advisory firm. Previously, Mr. Ball was a Senior Vice President at Desai Capital Management. Mr. Ball is replacing Alan Wilkinson as a panelist due to a last minute scheduling conflict.
 
 
DATE
Tuesday, December 1st, 2009
 
AGENDA
6:00 - 6:30 PM Registration
6:30 - 7:30 PM Program
7:30 - 8:30 PM Reception
 
PLACE
PriceWaterhouseCoopers
300 Madison Avenue at 41st Street
New York, NY
 
PRICE
CBSAC/NY Members $25
Non-members $35
Door purchases $45

To become a member click here
 
REGISTRATION
Click here to buy tickets!!!
Space is limited and will fill up quickly.
 
NOTES
Reception includes light refreshments.
 
Please bring a photo ID and allow yourself additional time to get through security. Check-in will be in the lobby at the top of the escalator.
 
EVENT ORGANIZERS
We are grateful to Erik Tiltmann, Eugene Kenny and Wayne Weil of the Private Equity Committee for creating this event.