Global Society Alliance Webinar

Date

Thursday May 28, 2015 from 3:00 PM to 4:30 PM CEST

1:00 PM, GMT / 9:00 AM, EDT

Where

Webinar

Link to the webinar will be emailed to registrants

Global Society Alliance Webinar:
Risks, Opportunities and Outlook
in the Private Equity Industry

Forming a global alliance, the Boston Security Analysts Society (BSAS), CFA Society Beijing, CFA Society Brazil, and CFA Society Luxembourg have joined forces to present a Global Society Alliance Webinar on the topic of Risks, Opportunities and Outlook in the Private Equity Industry.

This presentation will feature industry experts from North America, Asia, South America, and Europe, with each speaker will address their own region.

Speakers

Scott D. Stewart, PhD, CFA

Clinical Professor of Finance and Accounting
Samuel Curtis Johnson Graduate School of Management
Cornell University

Scott D. Stewart is also a designated manager for the Cayuga Fund, LLC. He holds a Ph.D. in finance from Cornell University and an MBA in finance from the Samuel Curtis Johnson Graduate School of Management.
His research interests include portfolio management techniques, the behavior of institutional investors,
equity valuation, the use of technology in finance, and management education. He has published articles in the Financial Analysts Journal, the Journal of Portfolio Management and the Financial Review, and has served as an ad hoc reviewer for each of these publications. He is associate editor of the Journal of Risk Finance, coauthor of Running Money: Professional Portfolio Management (McGraw
-Hill, 2011) and author of Manager Selection (CFA Research Foundation, 2013). Professor Stewart received a Financial Analysts Journal Graham and Dodd Scroll Award (2010) and two first place research paper awards from the Financial Education Association (2013 and 2010).
Professor Stewart holds a CFA Charter and is Vice Chair of the Boston Security Analyst Society's board of directors. Between 1985 and 2001 he pursued a career in portfolio management that included fixed-income, asset allocation and global long and short equity investment strategies in mutual fund, separate account, and commingled pool formats. His experience includes 14 years at Fidelity Investments, where he was founder and equity group leader of the $45 billion Structured Investments Group. He managed the Fidelity Fifty Fund and Fidelity Select Equity Portfolios and co-managed the Fidelity Freedom Funds, earning recognition for superior investment performance from Micropal, the Wall Street Journal, and Barron’s. Professor Stewart was senior adviser to equity research at Fidelity and a portfolio manager at State Street Bank Asset Management Division (now State Street Global Advisors), where he managed fixed-income assets, tactical asset allocation portfolios and derivative strategies.
Before joining Cornell University Professor Stewart taught at Boston University's School of Management where he was faculty director of their graduate program in investment management.

Yang Fan, CFA

Investment Director
CITIC Private Equity Funds Investment Co. Ltd.

Mr. Fan joined CITIC PE in May 2011 as an Investment Director, responsible for the investments in financial services and business services. Prior to CITIC PE, Mr. Fan was a former Senior Investment Officer at IFC, responsible for IFC’s investment in the financial services sector in China; a former vice president of Beijing Eagles United Investment Consulting Co., responsible for M&A advisory, and a former Senior Consultant and Manager, with the Corporate Finance Services team of Deloitte & Touche.
Mr. Fan sits in the boards of Zhejiang Mintai Bank, Jiangsu Financial Leasing Co., Ltd., Chengdu Medium and Small Enterprise Credit Guarantee Co., Ltd., China Top Credit Financial Services Co., Ltd., and sits in the supervisory board of Bank of Chengdu. Mr. Fan became a CFA charter holder in 2003.

Ricardo Propheta Marques

Co-Head of Private Equity
BRZ Investimentos

Ricardo Propheta Marques joined BRZ Investimentos in 2006 where is currently a Managing Partner and Co-Head of Private Equity department, prospecting, executing and monitoring companies and projects. Additionally, he is a board member in different invested companies (Amata, LOGZ Log�stica Brasil, Magnesita, Am�rica Latina Log�stica, Regina Festas and Brado Log�stica). Before joining BRZ Investimentos, he worked at GP Investments (2002 - 2006) as an associate, as a consultant at Booz Allen & Hamilton (2001-2002) and at the banks CCF Brasil and Brascan.
He has already held a seat on the boards of companies such as Equatorial Energia, iG, and Lupatech,
among others.
He holds a degree in Production Engineering from Escola Polit�cnica of the University of S�o Paulo
(USP).

Yves Courtois, CFA

Partner, Head of Corporate Finance, Valuation and M&A
KPMG Luxembourg

Yves has 17 years of experience within the KPMG corporate finance network in the US and in Luxembourg, during which he advised European, American, Middle-eastern, African and Asian companies. He now manages a team of 14 corporate finance professionals in Luxembourg. His main areas of expertise are companies valuation, infrastructure, private - equity and mergers and acquisitions. Co-head of KPMG’s GVI, a think tank on the valuation issues that are face by entrepreneurs, investors and regulators. He is accredited by the Corporate Finance Network to provide company valuations and is part of KPMG Global Valuation Committee.
A preview of his professional experiences includes: successful M&A sell side assistance of Lloyd’s private banking activities in Luxembourg, assistance and presentation to the board of ArcelorMittal in regards to the spin-off of the stainless steel segment (APERAM), independent valuation of a number of private equity and infrastructure portfolios in the context of reporting to investors, share pledge enforcements by lenders and arbitration, technical assistance to a Moroccan private equity firm for the launch of the first mezzanine fund of Morocco on behalf of the European Investment Bank, valuation training to regulators and sovereign wealth funds.
Yves is a frequent columnist in the CFA Magazine (5 articles published). Co author of �Private Equity
Valuation� with Tim Jenkinson (faculty of finance dean at Oxford University) and “Cost of capital” for the
CFA institute. Yves is also author of a publication on company valuation edited by Kluwer. Trusted advisor to the CFA Institute in relation to the curriculum since 2005, he is co-head of the Accounting and Valuation Committee of Luxembourg Private Equity Association (Luxemburgish branch of the EVCA).

Moderator:

Stephen Horan, PhD, CIPM

Managing Director and Co-Lead, Education
CFA Institute

Prior to joining the organization in 2007, Stephen was a principal of Alesco Advisors LLC, a financial analyst and forensic economist in private practice providing expert witness testimony and preparing economic impact studies, and a professor of finance at St. Bonaventure University. Dr. Horan also served as a buy-side account manager with Manning & Napier Advisors, Inc. and as a sell-side stockbroker with Quick and Reilly, Inc. The author or co-author of several books, including Strategic Value Investing: Practical Techniques of Leading Value Investors, The New Wealth Management: A Financial Advisers Guide to Managing and Investing Client Assets, and the Forbes/CFA Institute Investment Course, Dr. Horan has also edited the volume Private Wealth: Wealth Management in Practice. He’s authored dozens of articles in peer - reviewed journals, such as the Financial Analysts Journal, Harvard Business Review Latin America, Journal of Financial Research, Journal of Wealth Management, and Financial Services Review; and has published monographs commissioned by the Research Foundation of CFA Institute. He has received numerous research grants and awards, including the 2012 Graham and Dodd Readers’ Choice Award.
His award-winning research has been profiled in leading practitioner publications, including CFA Digest
and Barron’s, as well as the popular press, including the Chicago Tribune and Baltimore Sun. He is a
frequent columnist in the Financial Times and is frequently cited in the media, including publications
such as The Wall Street Journal, The New York Times, CNBC, Investment News, and Money Magazine.

Professional Activities
Dr. Horan currently serves on the editorial board of the Journal of Wealth Management and the Financial Services Review. Before joining CFA Institute, Horan was active both locally and nationally with CFA Institute, drafting Research Foundation monographs, serving as a consultant to the Financial
Accounting Policy Committee, and serving as Education chair for the CFA Society of Buffalo. He has been a frequent invited speaker at professional, academic, and CFA Institute events.