In the Spotlight

Key Trends in Investing

Over the past decade, foreign direct investment in the region has increased by nearly 50%. Last year, the value of M&A deals targeting sub-Saharan African firms jumped by almost one-third to $30.3 billion.

According to the United Nations, Nigeria is poised to overtake the United States by 2055 as the third-most-populous country after India and China. Today, key drivers for investment include increased urbanization, a rising middle class, technology adoption and improved fiscal stability are all contributing to the region’s growth—and investor attraction.

Sponsors


African Private Equity
Atlasmara
CBO Investment Management
Fairview Capital Partners
GCM Grosvenor
Kuramo Captial Management PanAfrican Investment Co.

Industry Partners


EMPEA Henshaw MN capital

Speakers

Tom Speechley
Tom Speechley
Partner
The Abraaj Group
Kenroy Dowers
Kenroy Dowers
Director
African Private Equity and Venture Capital Association
Michelle Kathryn Essomé
Michelle Kathryn Essomé
Chief Executive Officer
African Private Equity and Venture Capital Association
Bekuochi Nwawudu
Bex Nwawudu
Co-Founder & Managing Partner
CBO Investment Management
Francis Idehen
Francis Idehen
Managing Director, Private Markets
Exelon Corporation
Kolawole Olofinboba
Kolawole Olofinboba
Partner
Fairview Capital Partners
Chima Jude Akalezi
Chima Jude Akalezi
Managing Director
First Guarantee Pension Limited
Barbara James
Barbara James
Founder and Chief Executive Officer
Henshaw Capital Partners
Walé Adeosun
Walé Adeosun
President and Chief Investment Officer
Kuramo Capital Management
Alcina Goosby
Alcina Goosby
Investment Officer
New York State Common Retirement Fund
Dana Reed
Dana Reed
Chief Executive Officer
PanAfrican Investment Company, LLC
Titi Lawani
Titi Lawani
Managing Director
Progress Trust CPFA Ltd
Nana Dufie Addo
Nana Dufie Addo
Investment Officer
Washington State Investment Board

Advisory Committee

Michelle Kathryn Essomé, CEO
AVCA

Joanne Yoo, Managing Director
CBO Investment Management

Kola Olofinboba, Partner
Fairview Capital Partners

Mishone Donelson, Principal
Fairview Capital Partners

Wale Adeosun, President
Kuramo Capital Management

Tutu Agyare, Managing Director
Nubuke Investment LLP

Renae Griffin, CEO
RG + Associates

Africa Intensive

The Africa Alternative Investment Intensive is an open exchange of ideas, investment best practices and perspectives on future opportunities for limited partners in Africa and the United States and fund managers active in Sub-Sahara Africa. The intimate event format—including one-on-one facilitated meetings, roundtable discussions and LP/GP panels—is designed to foster dialogue, interaction and introductions.

WHO SHOULD ATTEND

BENEFITS OF ATTENDING THE INTENSIVE

LPs

GPs (by invitation only)

PROGRAM | June 11, 2014

9:00 am – 1:00 Pm

SPECIAL CONSORTIUM 2014 PRE-EVENT

IN THE SPOTLIGHT | Africa Alternative Investment Intensive
An Education & Networking Forum for LPs & Africa-focused Fund Managers

The Intensive will present an open exchange of ideas, investment best practices and perspectives on future opportunities for limited partners in Africa and the United States and fund managers active in Sub-Sahara Africa. The intimate event format—including one-on-one facilitated meetings, roundtable discussions and LP/GP panels—is designed to foster dialogue, interaction and introductions.

8:00 am

REGISTRATION

9:00 am – 9:15 pm

WELCOME

Renae Griffin, CEO – RG + Associates

Opening Remarks
Michelle Kathryn Essomé, CEO – African Private Equity and Venture Capital Association

9:15 am – 10:00 am

LP INVESTMENT PERSPECTIVES

Learn from top LPs with a track record of investing in the region—hear first-hand what they’ve gleaned over the past few years, and how they view the opportunities ahead.

  • Moderator:
  • Bex Nwawudu, Co-Founder & Managing Partner – CBO Investment Management
  • Speakers:
  • Francis Idehen, Managing Director, Private Markets – Exelon Corporation
  • Chima Jude Akalezi, Managing Director – First Guarantee Pensions Limited
  • Alcina Goosby, Investment Officer – New York State Common Retirement Fund
  • Nana Dufie Addo, Investment Officer – Washington State Investment Board

10:00 am – 11:00 Am

GP INVESTMENT PERSPECTIVES

There’s a growing base of managers dedicated to investing in Sub-Sahara Africa—and we’re pleased to introduce those top managers to offer their perspectives on where they view the best near-term and long-term opportunities.

  • Moderator:
  • Walé Adeosun, President & CIO – Kuramo Capital Management
  • Speakers:
  • Tom Speechley, Partner – The Abraaj Group
  • Kenroy Dowers, Director – Atlas Mara
  • Dr. Kolawole Olofinboba, Partner – Fairview Capital Partners
  • Dana Reed, CEO – PanAfrican Investment Company, LLC

11:15 am – 12:30 pm

VIP CONNECT (Value, Information, Partnership)

Building relationships is paramount to sound investment choices—and superior returns. During VIP Connect, you’ll have the opportunity to make an initial contact, or to re-connect and start a conversation in a small group format.

12:30 pm – 1:30 pm

POWER NETWORKING LUNCH – Table Talk Discussions

Expand your networking activity and recap the morning’s session over lunch. Make the best of this time to exchange information and discuss next steps.

Welcome Remarks
Barbara James, Founder and CEO – Henshaw Capital Partners

Africa Intensive 2014 pricing

U.S. Institutional Investors

Managers/Fund of Funds, Consultants & Others

Participating LIMITED PARTNERS

The Africa Alternative Investment Intensive will serve as the pre-event for Consortium 2014. To learn more about Consortium 2014, please visit: rgameetings.com/14c. If you have questions, please contact Renae Griffin of RG + Associates at rgriffin@rgassociates.org or 510.628.0345 x100.

Michelle Kathryn Essomé

Michelle Kathryn Essomé

Chief Executive Officer
African Private Equity and Venture Capital Association

Michelle brings 20 years of investment banking experience covering marketing and origination roles in equities, fixed income and investment management at Merrill Lynch, Goldman Sachs, JPMorgan, Lehman Brothers and Nomura, including two years marketing private equity funds. Michelle has an MBA in finance from Columbia Business School, where she was a Robert F. Toigo fellow, a BBA in Finance from Howard University, and has completed an executive education course in private equity and venture capital at Harvard Business School. She has worked in the US, UK and in France, and is fluent in French. Michelle was the inaugural recipient of the Columbia Business School Young Alumni of the Year Award.

Kenroy Dowers

Kenroy Dowers

Director
Atlas Mara

Kenroy Dowers is the Director of Corporate M&A and Development at Atlas Mara, a recently formed London listed entity, which is a joint venture between Atlas Merchant Capital and the Mara Group. Atlas Mara was launched as a vehicle to create the premier banking platform for Africa. In this capacity he leads Atlas Mara M&A operations, fund raising, product and manages all relations with the DFIs.

Prior to joining Atlas Mara he was a member of the Senior Management team of the IFC Financial Institutions Group (FIG), and led the FIG business focusing on Capital Markets and Non-Banking Financial Institutions, which included investments in capital markets, insurance and pensions, housing finance, distressed assets and agrifinance. IFC, a member of the World Bank Group, is the largest development institution focused on private sector development and the fight against poverty. During his tenure at IFC he spearheaded IFC’s expansion into housing finance, distressed assets and insurance. He also was the lead manager for IFC’s global client relationships with Citibank, Deutsche Bank, JP Morgan, Swiss Re and Munich Re.

Dowers, a native of Trinidad and Tobago, has worked in the financial services industry for over 20 years and held senior positions at Inter-American Development Bank and Freddie Mac prior to joining IFC. He holds a Ph.D. in financial economics and an MBA in corporate finance. Dowers has written widely on the subjects of capital markets, housing finance and financial sector development. He has also written and edited the book “Focus on Capital” which is now widely used for Capital Market research.

In his spare time, he enjoys listening music from around the world, playing pick-up soccer, and reading historical biographies.

Bekuochi Nwawudu

Bekuochi Nwawudu

Executive Director
CBO Capital Investment Management

Bex Nwawudu is a Managing Partner of CBO Capital Partners which is an Advisory and Private Equity Investment fund manager headquartered in Lagos, Nigeria. Bex has two decades of experience in private equity, investment banking, proprietary trading, and principal investing has in the last 3 years closed over US$200m worth of transactions and invested over US$50m in African investments.

The firm is currently raising a new US$150m West Africa focused SME Fund that will invest in 6 growth sectors including real estate services. An example of such an investment is CBO’s support of and investment in Coastal Hire that has resulted in the entry of Southern Africa’s largest chain of building equipment hire stores (80 stores in 8 countries) into West Africa.

CBO also publishes proprietary macro and sector research, and also has an active and visible CSR programme which includes the sponsorship of the Lagos Jazz Series, London Nigeria Cricket Tour, and donations to the Living Fountain Orphanage, Lekki amongst other activities.

Bex is an Alumnus of London Business School and St Johns College, Cambridge University.

Adeniyi Falade

Adeniyi Falade

Managing Director
CrusaderSterling Pensions Limited

Mr. Adeniyi Falade is a chartered accountant and investment banker. He had his professional training at PricewaterhouseCoopers, Lagos. Before his appointment as Managing Director- CrusaderSterling Pensions Ltd, he had served as the Managing Director of Lead Capital, and Head of Investment banking group of Eco Bank Nigeria Plc and Lead Bank Plc. He had also, at various times, served as Head of Internal Control/ Chief Inspector and Head of Risk Management Department of Lead Bank Plc. He holds a Master of business administration (MBA) from the University of Warwick, United Kingdom and a Bachelor of Science degree (BSc), Chemistry from the University of Ibadan. He was appointed onto the Board of CrusaderSterling Pensions Ltd on February 7, 2007 as Managing Director and Chief Executive Officer of the Company.

Francis Idehen

Francis Idehen

Managing Director, Private Markets
Exelon Corporation

Francis Idehen is Managing Director of Private Markets at Exelon Corporation, responsible for developing and executing Exelon’s investment strategy for private equity, real estate and other illiquid strategies across all of its investment platforms. Prior to Exelon, he served as Senior Portfolio Manager at Intel Corporation, with responsibility for all fixed income portfolios, distressed investments and commodity portfolios. Previously, Francis held positions within the Interest Rate Derivatives Group at Lehman Brothers, the Credit Markets Group at J.P. Morgan, and served as a Proprietary Equity Trader at Streamline Capital. He began his career as an analyst with Goldman Sachs in the Mortgage Group. Francis earned his Bachelor of Arts degree in Economics from Yale University and an MBA from Harvard Business School.

Kolawole Olofinboba

Kolawole Olofinboba

Partner
Fairview Capital Partners

Dr. Olofinboba joined Fairview in 2007. He is a member of Fairview’s investment committee and is involved in a broad set of activities at the firm. Dr. Olofinboba has been intimately involved with the firm’s international strategy; more specifically the FMO Fairview Africa Fund where he is a member of the Fund’s investment committee. Dr. Olofinboba serves on the advisory boards of several private equity partnerships including Millennium Technology Value Partners, Azure Capital Partners, FirstMark Capital, and WestView Capital Partners. Prior to joining Fairview, Dr. Olofinboba was an Engagement Manager at McKinsey & Company, serving U.S. and global clients in healthcare and private equity. Earlier in his career, he practiced medicine as a hospitalist and assistant professor at the University of Connecticut Health Center in Farmington, CT. He serves on the Board of Directors of the Connecticut Children’s Medical Center in Hartford, CT. Dr. Olofinboba received his medical degree from the University of Ibadan, Nigeria and an MBA in Financial Management from the MIT Sloan School of Management, where he was a Robert Toigo Fellow. He is board-certified in internal medicine and is a Fellow of the American College of Physicians.

Chima Jude Akalezi

Chima Jude Akalezi

Managing Director
First Guarantee Pension Limited

Chima Akalezi holds a long standing work experience with the Central Bank of Nigeria beginning from 1979 with an in-depth experience spanning the fields of Research, Currency, Banking, Finance and Supervision. He rose to the rank of a Deputy Director, retiring voluntarily in 2011.

A Fellow, Institute of Chartered Secretaries & Administrators London (FCIS) (1992), and Higher Senior Memeber, Chartered Institute of Bankers of Nigeria (HCIB) (2011), Mr Akalezi has been trained in Capacity Building for Examiners, Auditors & Bank Supervisors of Financial Institutions at CECOS London College of IT & Management; Planning & Budgetary Management at University of Jos Consultancy Services; Senior Management Course at Central Bank of Nigeria Training School; Public Expenditure & Management at National Centre for Economic Management & Administration (NCEMA); Implementing Risk-Based Supervision (New Basel Accord) at Risk Reward, London; Resident Examiner Programme at London Academy for Higher Education; Risk Management Practices in Banks & Other Financial Institutions at Nigeria Deposit Insurance Corporation/Chartered Institute of Bankers of Nigeria; Supervision Seminar on Basel 11, Pillar 2 at Office of the Superintendent of Financial Institutions (OSFIS) Canada. Mr.Chima Akalezi holds a B. Sc. in Economics, and an MBA (Financial Management) both from University of Lagos, Akoka, in 1977 and 1992 respectively.

His managerial ability was put to the test when he was appointed by the National Pension Commission to turn around the fortunes of the troubled First Guarantee Pension Limited in August 2011. It was not only turned around, but he has positioned the company as one of the leading pension fund administrators in the country.

Kurt Summers

Kurt Summers

Senior Vice President
GCM Grosvenor

Mr. Summers joined the Firm in 2012. As a member of the Strategy and Corporate Development Team, Mr. Summers helps guide the short- and long-term objectives of the Firm. Prior to joining Grosvenor, Mr. Summers served as Chief of Staff to the Cook County Board President and as the President’s appointed Trustee for the Cook County Pension Fund. From 2009 to 2010, Mr. Summers was a Managing Director at Ryan Specialty Group, a specialty insurance services firm. From 2008 to 2009, he served as Chief of Staff on the Chicago 2016 Olympic Bid Committee. From 2006 to 2008, he was Director, Chief Financial Officer, and Head of Business Development at the Balton Corporation, a wholesale distribution company in Chicago. From 2005 to 2006, he was an Associate at Goldman Sachs in the Industrials Group of the Investment Banking Division. From 2002 to 2003, he was an Aide to the Chief of Staff in the Office of the Governor for the State of Illinois, serving as a James H. Dunn Fellow. Mr. Summers began his career as a Business Analyst at McKinsey & Company. Mr. Summers received his Bachelor of Science in Business Administration with Management Distinction High Honors in Finance and International Business, with a minor in East Asian Studies, from Washington University in St. Louis in 2000 and his Master of Business Administration from Harvard Business School in 2005. In addition, Mr. Summers is active as a leader in many other organizations. He is a member of the National Council for The Gephardt Institute for Public Service, Public Safety Action Committee for the City of Chicago, the Finance Committee Chair and Board member for Navy Pier Inc., and an active member of the Economic Club of Chicago.

Barbara James

Barbara James

Founder and Chief Executive Officer
Henshaw Capital Partners

Barbara is founder and CEO of the first independent pan-African private equity Fund of Funds—Henshaw Capital Partners.

Henshaw promotes private equity and venture capital in Africa as a catalyst for business growth and job creation. Henshaw activities include awareness raising, capacity building, institution building, fund formation and advocacy across the 5 stakeholder groups within the private equity and venture capital ecosystem—entrepreneurs, fund managers, policy makers, investors and service providers.

Henshaw Capital Partners organises the Nigerian National Private Equity Initiative (NNPEI) to raise awareness of private equity and venture capital to grow businesses and create jobs, supported by the Federal Ministry of Finance. Henshaw also organises the Nigerian Renewable Energy Private Equity (NREPE) Initiative to catalyse the formation of renewable energy private equity funds in Nigeria, co-sponsored by the Nigerian Federal Ministry of Power. Henshaw was also awarded the Nigerian Federal Government Youth Enterprise with Innovation in Nigeria (YOUWIN!) Award.

Henshaw Fund of Funds seeks to invest in private equity and venture capital funds across Africa. They are vehicles for institutional investors—pension, insurance, endowment and sovereign funds in Africa and internationally, to invest in African private equity, through diversified portfolios of professionally selected funds.

Barbara Co-Chairs the Nigerian Federal Government Private Equity and Venture Capital Development Committee. She also served on the Nigerian Federal Government Committee on Information Technology Incubation Centre Development in 2011/2012 and on the Nigerian Federal Ministry of Trade and Investment committee on Small and Medium Enterprise Development in 2011.

After a 15 year career in business applications of information systems, she entered the African venture capital industry and helped establish the African Venture Capital Association (AVCA).

From 2005 to 2007, she was Managing Director of AVCA and served on its Executive Board from 2004 until 2009.

At AVCA, she was responsible for the development, fund raising and implementation of programs to promote and strengthen the private equity and venture capital industry in Africa including AVCA’s research and publications program, training program, industry briefing and conference program, advocacy and regulatory programs.

Barbara has been instrumental in the development of innovative venture capital solutions in Africa. They include initiating the African Diaspora SME Fund; advocating for UK (and G8) tax incentives to investors in African venture capital; an African Technical Assistance Fund and the first independent African venture capital Fund of Funds.

In 2007, she advised the Kenyan, Tanzanian and Ugandan Governments on the setting up of an SME venture capital fund, a technical assistance facility and an enabling regulatory environment for venture capital in East Africa. She is on the Board of East Africa Capital Partners—an OPIC financed fund making private equity investments in technology, media and telecoms sectors in East Africa.

She is a recognized expert in the field of African private equity and has spoken at several conferences as well as featured in several print, electronic and broadcast media including CNN and the BBC discussing issues of venture capital and development in Africa.

She has a BSc in Computer Science and an M.Sc. in Business Systems Analysis and Design. She also qualified as a Certified Information Systems Auditor (CISA) and a Microsoft Certified Systems Engineer (MCSE) and has trained professionally as a venture capital General Partner (investment manager) and Limited Partner (investor).

Prior to her role at the African Venture Capital Association (2004 – 2007), she studied ‘Finance and Innovation’ at Phd level (2002 – 2004), and worked at Mason Communications (2000 – 2001), Deloitte & Touché, London (1997 – 2000), Catholic Fund for Oversees Development (CAFOD), London (1991 – 1997), Abbey National, Milton Keynes (1989 – 1990) and DP Advisors, London (1988 – 1989).

In 2012, she was appointed to the Board of Governors of the University of Anglia Ruskin (UK) and to the Advisory Panel of Omnia Strategy LLP (UK) an international consulting firm founded by Mrs. Cherie Blair QC CBE.

Walé Adeosun

Walé Adeosun

President and Chief Investment Officer
Kuramo Capital Management

Walé Adeosun serves as Chief Investment Officer of Kuramo Capital Management, LLC with responsibility for the company’s investments and strategic direction.

Previously, Walé was Treasurer and CIO at Rensselaer Polytechnic Institute (RPI), where he oversaw $850 million in endowment and pension assets. He led RPI’s increased investment in alternative investments, spearheading RPI’s investment effort in emerging frontier markets, including Africa. From 1999 to 2004, Wale was a Managing Director in the Investments Group of The MacArthur Foundation in Chicago. Walé currently serves as Chair of the Investment Advisory Committee for the $140 Billion New York State Common Retirement Fund. He also serves as President of the Nigeria Higher Education Foundation (NHEF). Walé was awarded the Chartered Financial Analyst designation in 1995 and he is a member of the CFA Institute. In 2008, Walé was inducted into the New York Chapter of the National Association of Security Professionals Wall Street Hall of Fame.

Walé received his MBA from John M. Olin School of Business at Washington University in Saint Louis, MO with a concentration in Finance, and his BA in Economics and Business Administration from Coe College, Cedar Rapids, IA.

Walé is a Nigerian and American citizen.

Alcina Goosby

Alcina Goosby

Investment Officer
New York State Common Retirement Fund

Alcina joined the New York State Common Retirement Fund (“NYCRF”) in 2007. Ms. Goosby has a total of 17 years of institutional industry experience in the international and domestic financial markets. Prior to joining NYCRF, Alcina spent a significant part of her career in institutional sales and trading, reaching the level of V.P. of European Sales-Trading. Alcina has been able to foster a well-rounded career, providing her with experience on both the buy-side and sell-side; she has worked at various firms such as ABN AMRO and Citigroup, and has consulted for firms such as Lehman Brothers, and Neuberger Berman. Alcina is a past member of the New York Society of Securities Analysts; holds a bachelor’s degree in Economics from the City College of New York and a Master’s degree in Finance with a specialization in Financial Statement Analysis and Securities Valuation from the Zicklin School of Business.

Dana Reed

Dana Reed

Chief Executive Officer
PanAfrican Investment Company, LLC

Dana is the CEO of PanAfrican Investment Co. and is responsible for managing the business day to day as well as overseeing all investment decisions. Prior to joining PIC, she was a Managing Director at Semper Capital (formerly named UCM Partners) where her responsibilities included marketing, product development, and strategic growth of the firm. She previously served as a Vice President of Institutional Equity Sales at Friedman Billings Ramsey and was also a Vice President in the Investment Banking Group at FBR. Prior to that Dana was in the Investment Banking Groups of JP Morgan and Goldman Sachs.Dana began her career as a Fellow at the Export-Import Bank of the U.S. She received her BBA in International Business with minors in Marketing and Spanish from Howard University and her MBA from Howard University. Dana was appointed by New York Governor Paterson to serve as a Director of the Harlem Community Development Corp. and still serves in that capacity today. She is also on the Board of Directors of Trunity Holdings, PrePex and Shea Yeleen and Mobius Motors. She is an active member of the Metro-Manhattan Links, Inc. and Jack & Jill of America. Dana lives in Harlem with her seven year old twin boys.

Tom Speechley

Tom Speechley

Partner
The Abraaj Group

Tom Speechley has worked in the private equity industry for almost 20 years. He joined The Abraaj Group in 2006 and, in addition to direct responsibility for several investments, has overseen investment teams operating in Latin America, Africa, Asia and the Middle East. Mr Speechley spent several years as a member of the firm’s main Board of Directors, Executive Committee and Investment Committee. In 2013, he established and leads the firm’s presence in North America and is based in New York focusing on institutional investor engagement across the Americas.

Mr. Speechley is a member of the Board of Directors of EMPEA, the leading private equity association for emerging markets. He is also a Senior Advisor to Endeavor, a global organization dedicated to supporting high impact entrepreneurs across Africa, Asia, the Middle East, Europe and the Americas.

Mr. Speechley initially trained in law and worked for several years with leading law firms in London and New York focusing on private equity transactions. He is the author of a leading text on acquisition finance and holds a First-Class Honors degree in Law from the University of Sheffield.

Nana Dufie Addo

Nana Dufie Addo

Investment Officer
Washington State Investment Board

Dufie is an Investment Officer within the Asset Allocation team at the Washington State Investment Board (WSIB). Prior to joining WSIB, she spent three years as an Investment Banking analyst with Lehman Brothers and the International Finance Corporation, and three years in Management Consulting with AngloGold Ashanti and Vodacom Congo, where she acted as a member of the Board. Her experiences have exposed her to a number of private equity, mergers/acquisitions, debt/equity financing, and project finance transactions across the North America, MENA and Sub-Sahara Africa regions. She holds an MSc. in Chemical Engineering from Stanford University, and a BA in Chemistry and Mathematics from Mount Holyoke College. She co-founded the Ghana-US Alumni Network and the Stanford African Entrepreneurship Network, and was awarded “Next Generation Leader’ by the African Leadership Network.

Titi Lawani

Titi Lawani

Managing Director
Progress Trust CPFA Ltd