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Impact Investing in Emerging Markets - Capital Allocation for Sustainable Development

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Can Impact Investing in emerging markets successfully facilitate capital towards achieving the Sustainable Development Goals?

Although the Sustainable Development Goals represent agreed common aspirations, the United Nations estimates that reaching the SDGs in emerging markets will cost approximately $3.9 trillion per year and that private and public sources provide just $1.4 trillion per year. As a result, asset managers, financial institutions, governments, foundations, and aid agencies are increasingly placing emphasis on new products and methods of capital allocation to achieve social, environmental and financial objectives.

Impact Investing, despite often convoluted and opaque methodologies, has risen to the forefront of the dialogue as a potential ‘silver bullet’ – promises of financial returns above investor hurdle rates while simultaneously achieving social outcomes have proven to be an enticing combination. Impact Investing now represents a subset of every major asset class including private equity, private debt, public equities, ETFs, fixed income and real estate. As toolkits, exit strategies and investor sophistication continue to evolve in emerging markets, and entrepreneurs continue to tackle ‘wicked problems’ that are of increasing urgency, Impact Investing now seeks to align with the sustainable development agenda on a global scale.

This 1 day conference will debate, discuss and share some of the key themes and challenges essential to at the centre of Impact Investing in emerging markets:

Sustainable Development
• Impact investing as a tool to address social and environmental prosperity in emerging markets
• Alignment of direct and intermediated investment portfolios with appropriate sustainable development goals
• The effects of the SDGs on investment and exit strategies

Environmental, Social and Governance (ESG)
• Effective methodologies and toolkits to address ESG concerns in the context of emerging markets
• Red flags and risk management techniques, both reputational and financial
• Role of ESG on exits – do ESG screens influence success?

Impact Measurement
• Incorporating impact and ‘lens’ based frameworks into the entire investment process
• Informatics approaches to capturing, cleaning and understanding impact data
• Relevance of impact on exit opportunities and strategies

Financial Structuring
• Design and structuring approaches to align investors with varying financial return and impact objectives
• Blended finance, tiered tranches and bond issuances as direct investment strategies in impact focused corporates
• Valuation methodologies and effective structuring of an investment exit

Financial Returns
• Realistic expectations for limited partners in impact investing funds
• Management, performance and technical assistance fees
• Exit visibility and impact on financial returns

Why Attend?

  • Explore ways to expedite sustainable private sector investment to facilitate economic growth and prosperity in emerging markets
  • Discuss methods to leverage official development assistance through private sector investment that seeks to tackle extreme poverty and other sustainable development goals
  • Network with active players including impact investment professionals and industry thought leaders in an effort to define (and refine) industry best practices
  • Participate in cutting edge discussions and have an opportunity to share experiences and lessons learnt (case studies/scenarios for discussion welcome)
  • Establish and discover viable, less conventional potential co–investment channels, partnerships and opportunities

Speakers

Kris Douma, Director of Investment Practices and Engagements, UN PRI

Kris joined the PRI in December 2015 as Director of Investment Practices and Engagement to lead their work on investment practices and the UN Sustainable Development Goals. Prior to the UN PRI, Kris was a Manager for Public Interest at the Dutch Professional Accountants Organisation coordinating the implementation of measures to improve independence, integrity and quality in the Dutch audit industry. From 2003 to 2007, he was a Member of Parliament in the House of Representatives in the Netherlands, following a 12 year career as a trade union officer and manager in trade union federation Dutch FNV. After leaving the Dutch parliament in 2007, he spent seven years as Director of Responsible Investment & Governance and member of the management team of MN, the fiduciary manager for Dutch and UK pension funds with EUR 100 billion AuM.

 

Charlotte Ward, Senior Partner & Chief Operating Officer, AHL Venture Partners

Charlotte joined AHL in 2014 in Nairobi to lead the portfolio in East and Southern Africa, and sits on many Boards and Advisory Committees. She has experience in investment banking, project finance and managing small business development support programmes in emerging markets. Prior to joining AHL Charlotte managed the GSMA Mobile for Development Foundation programme for energy and water in Africa and Asia. She also spent seven years with Deutsche Bank in the Global Markets division, serving finally as VP for Equity Prime Services. Charlotte holds a Bachelor of Science (Hons.) from Bristol University and a Master of Science from Sydney University in Applied Environmental Science.

 

Bonny Landers, Head of Head of SRI Investments and Family Governance, Sandaire

Bonny Landers helps develop Sandaire’s capabilities in Sustainable, Responsible and Impact Investing as well as advising families regarding their governance structures and assisting them to define their legacy. She is an experienced finance professional, having spent more than 25 years working in America, Europe and Asia at large international banks in senior roles and across the spectrum of product lines. In 2005, she was appointed CEO of a large single family office in Hong Kong and specialised in assisting family members in the sphere of socially responsible investing. From 2013 to 2015, Bonny ran her own company as an independent consultant to assist families and foundations wishing to increase their sustainable and impact investments. She is currently a member of the Johnson & Johnson Impact Investment Advisory Committee. Bonny is an Honours graduate of Harvard University and has completed graduate degree work in International Relations, Politics, Economics and Financial Management. She also holds a Diploma for Non-Executive Directorship from the Financial Times.

 

Dr. Alex Nicholls, Professor of Social Entrepreneurship, Saïd Business School, University of Oxford

Dr Alex Nicholls’ areas of expertise range across several key areas within social entrepreneurship and social innovation. He is the General Editor of the Journal of Social Entrepreneurship, the leading academic journal in the field. Alex is currently leading a major European Union funded project to examine the economic underpinnings of social innovation in the European Union and its effects on marginalised populations. The project develops a new theoretical framework from economic sociology to analyse a range of aspects of social innovation including impact metrics, finance, social policy and entrepreneurship. Alex earned a BA (Hons), MA and PhD in English Language and Literature from King’s College, London and an MBA from Lady Margaret Hall, University of Oxford.

 

Liesbet Peeters, Founding & Managing Partner, D. Capital Partners

Liesbet is a known expert in the impact investment space, with strong investor relationships, deep understanding of financial solutions to development challenges, and extensive experience investing in Sub Saharan Africa and Latin America. Liesbet provides transactional and investment advisory services to foundations, private individuals and international organisations on strategic growth and investment management. Over the last 15 years, Liesbet has built up extensive experience assisting private foundations, family offices and institutional public-private partnerships in building up impact investment portfolios and fund structures in emerging markets. She has successfully led multiple direct investment transactions in Latin America and Africa. Additionally, she is recognised as a leader in financial product structuring for international development, having led the creation of products such as HUGinsure, a social insurance platform, and development impact bonds, including the Mozambique Malaria Performance Bond ad Cameroon Cataract Performance Bond. Prior to joining Dalberg and co-founding D. Capital, she founded an investment advisory firm, Lapiluz Advisory Services, based in Belgium and London. She was previously the CFO/Investor Relations Manager with Capricorn Venture Partners in Belgium and an Investment Officer with the Grassroots Business Initiative at the IFC. Liesbet holds an MBA from MIT Sloan and a Master’s degree in Commercial Engineering from Katholieke Universiteit Leuven, Belgium.

 

Laurie J. Spengler, President & CEO, Enclude Capital

Enclude is a global advisory firm dedicated to building inclusive, sustainable and prosperous local economies. The firm delivers integrated capacity and capital solutions to financial institutions, business support organisations, private-sector companies, funders and investors. Enclude works with clients and projects that contribute to the real economy by meeting the human needs of entrepreneurs, small & growing enterprises, and un(der)served households. Laurie has 25+ years’ experience in strategy and transaction services, specifically capital raising, M&A, and private equity transactions. She has developed particular expertise in structuring and launching investment vehicles that align different types of capital to allow operating enterprises, financial institutions and funds to generate positive social, environmental and development outcomes while delivering appropriate financial returns. Previously, Laurie was founder and CEO of Central European Advisory Group and an attorney with White & Case.

 

Steven van Weede, Managing Director - Capital Advisory Services, Enclude Capital

Steven joined in 2014 and is an investment banker by training, having worked in the investment banking teams at Merrill Lynch (now Bank of America) and Citi in both London and Johannesburg. In these firms he specialised in corporate finance (balance sheet optimisation, structuring equity and equity-linked financings and debt advisory), before taking on wider coverage roles (which also included M&A). Subsequently, he helped set up Gryphon Investment Bank, an investment banking boutique, where he advised entrepreneurial businesses in central and Eastern Europe on M&A transactions, private equity financing and debt (re-)structuring. Steven has developed a particular expertise in working with small and growing businesses and determining how best to meet their capital needs to fulfil the business objectives. Steven holds a Master’s Degree in Finance and Economics from Groningen University, and followed an executive MBA programme at Wharton.

 

Anja Koenig, Founder and Director, Social Impact Markets

Anja is impact investment and development professional based in Berlin with 15 years of experience in research, finance, training and advisory work in various countries in Africa, MENA, Asia and Latin America and (Central and Eastern) Europe. Until 2014 she was Program Director of the JP Morgan Social Investment Program and fellow of the Mercator Foundation and Rockefeller Foundation in Istanbul/Turkey. Her work with PricewaterhouseCoopers in Germany and Kenya, GIZ, KfW and other public, private and social sector partners focused on impact investing, social entrepreneurship, impact evaluation, shared value partnerships and support to policy sector reforms. She holds a MBA (University of Mannheim, Germany), a degree in Political Science and Economics (IEP “Science Po”, Paris France) and a post Master degree in Development Studies (German Development Institute).

 

Michael MacHarg, Senior Director - Social Ventures, Mercy Corps

Michael serves as Senior Director of the Social Ventures team at the global humanitarian agency, Mercy Corps. Michael leverages his experience launching early stage enterprises to help Mercy Corps identify, invest in, and accelerate impact-oriented, for-profit businesses. Prior to Mercy Corps, Michael was Co-Founder of Simpa Networks, a venture-backed energy services company with a bold mission: to make modern energy simple, affordable, and accessible for everyone. Michael has led Arc Finance’s research into micropayment approaches for financing pro-poor clean energy and water enterprises and consulted to the social venture capital fund, Acumen Fund, mapping private sector investments across east Africa. Michael was on the founding team of the first non-profit pharmaceutical company, the Institute for OneWorld Health, whose goal is clinical development and distribution of affordable new medicines for diseases of poverty in the developing world. Michael spent his early career with the Social Development Department of the World Bank. Michael holds degrees from Duke University (CASE Scholar) and Vanderbilt University (Ingram Scholar) and has studied at the Universidad de la Habana in Cuba.

 

Shantanu Bhagwat, Venture Partner UK, Impact Ventures UK

Shantanu is a Venture Partner at Impact Ventures UK and has more than 15 years of experience in venture capital and impact investing, across sectors and geographies. He started his career in early-stage tech investing with Amadeus Capital Partners in 2001. More recently, Shantanu was a Venture Partner at Nesta Impact Investments where he joined after several years as a Principal Director at Frontier Investments Group. He has also worked at Monitor Co. in London and prior to that, spent several years as a fast-track career diplomat in New Delhi and Tokyo. Shantanu currently serves on the Boards of Learning Possibilities, Reall and Innoviti. A personal investor in, and an advisor to several start-ups, Shantanu is a frequent speaker on social entrepreneurship at conferences and B-Schools. A graduate in Computer Engineering, Shantanu holds an MBA from London Business School where he was a Chevening Scholar.

 

Dan Schönfeld, Head of Finance, Vital Capital Fund

Mr. Schonfeld has twenty years of experience in the fields of finance, strategy, economics, business development and law, with top-tier organizations such as McKinsey & Company, UBS and Ernst & Young. During this time he has led a large number of assignments in a broad range of industries, including infrastructure, construction, healthcare, energy, telecommunication, financial services and others, in many markets and regions worldwide, including Africa. Mr. Schonfeld brings with him a strong foundation of business fundamentals and a rigorous, methodological approach to the analysis of potential investment opportunities by the Fund. In his role as Head of Finance, he oversees all of Vital Capital’s financial operations, manages all investment opportunity screening and evaluation work, monitors and oversees many of Vital Capital’s portfolio investments and in many cases represents Vital Capital on these companies’ Boards of Directors, and drives Vital Capital’s fundraising efforts. Mr. Schonfeld holds an undergraduate degree in Law (LLB) from the Hebrew University in Jerusalem and an MBA from the INSEAD Business School in France & Singapore.

 

Tracey Austin, Director – Impact Investing, Palladium

Tracey Austin has more than 15 years of investment banking and emerging markets experience ranging across energy, infrastructure and natural resources sectors. Prior to joining Palladium, Tracey worked at CDC Group plc leading the DFID Impact Fund where she focused on leading investing in activities, through fund and other intermediated structures. In addition she spent her time at CDC, on the development of a Frontier Investment strategy, mapping and focusing on incubation models for profitable, scalable investment ideas in post-conflict and transition economies across Sub-Sahara Africa and South Asia. Before CDC, Tracey was a principal at the hedge fund, BlueCrest Capital LLP, focused on selling distressed gold mining assets in Australia and Colombia, where she managed the restructuring programs to turn-around and divest mining assets. Tracey holds a bachelor of commerce degree in accounting, tax, and corporate finance, and is a member of the Chartered Institute of Management Accountants UK.

Agenda

8:15am - Registration and Tea/Coffee

9:00am – OPENING DEBATE
- Is there a trade-off between impact and financial returns in emerging markets?

10:00am
- INTERACTIVE SESSION 1: Fund Economics - should Impact Investing funds adhere to existing benchmarks in fund economics and fees? 

- WORKSHOP 1: Investor Toolkits – is integrating ESG, Impact and the SDGs into the investment process overkill?

10:40am – Tea/Coffee Break

11:20am
- INTERACTIVE SESSION 2: Intermediated vs. Direct Investing – what are the benefits, drawbacks and strategies to each approach?

- WORKSHOP 2: Financial Structuring – is it possible to align the objectives of philanthropists and aid agencies with those of institutional asset managers?

12:10
- MIDDAY DEBATE: Can Impact Investing address the SDGs?

13:00 – Lunch Break

14:10am
- INTERACTIVE SESSION 3: Understanding the Spectrum of Capital – where should Impact Investing begin and end?

- WORKSHOP 3: Impact Bonds – how can we iterate and improve outcomes based payment structures tailored for emerging markets?

15:00 – Tea/Coffee Break

15:40
- INTERACTIVE SESSION 4: Fund Governance – how can oversight effectively assist delivery on an investment mandate and attract 3rd party capital?

- WORKSHOP 4: Private Investors Seeking Impact – how can private investors allocate capital in emerging markets to achieve social impact?

16:30 – DAY IN SUMMARY: conference highlights

17:00 – 18:30 Networking Drinks Reception

Sponsors

Saïd Business School at Oxford University blends the best of new and old. We are a young, vibrant, and innovative business school deeply embedded in an 800 year old world-class university.

We educate people for successful business careers, and as a community seek to use our business acumen and global network to address long-horizon phenomena like demographic change, new technologies and natural resource scarcity.

We deliver cutting-edge education and ground-breaking research that transforms individuals, organisations, business practice, and society. We seek to be a world-class business school community, embedded in a world-class university, tackling world-scale problems.

Visit website

Embedded within the University of Oxford, the Skoll Centre at Saïd Business School is a leading centre for the advancement of social entrepreneurship worldwide. The Skoll Centre’s mission is to accelerate the impact of ‘entrepreneuring’ activity that aims to transform unjust or unsatisfactory systems and practices.

We do this by:
• Cultivating talent and emerging leadership
• Disseminating actionable insights relevant to social entrepreneurship
• Catalysing deep exchanges with a global community of innovators

Visit website

Barclays provides Wealth and Investment Management across 20 offices worldwide. In addition its financial experts help clients from a further 50 countries to manage their wealth offshore. Wealth and Investment Management is a division of Barclays, a major global financial services provider with over 300 years of history and operations in more than 50 countries. As well as wealth and investment management, Barclays is engaged in personal banking, cards and corporate and investment banking. Our clients can benefit from the range of services, support and expertise offered by the wider Barclays Group.

Registration Fees

£355.50 - Early bird registration (before 28 April 2017)
£395.00 - Standard registration fee

Enquiries: Derrick Sanyahumbi
Email: training@thepalladiumgroup.com
Tel: +44 (0)20 7250 0556

Travel & Accommodation

Venue
Saïd Business School, University of Oxford
Located next to Oxford’s railway station
Park End Street
http://www.sbs.ox.ac.uk/school/contact-us/how-find-us

Travel by train
The Park End Street venue is located adjacent to the train station.
There are direct main line services between Oxford, London and Birmingham.
From Heathrow Airport there is a fast train link to London Paddington which connects directly with services to Oxford.

Travel by coach
From London (Heathrow or Gatwick) there is a regular coach service (X70) from both airports to Oxford city centre.
Taxis are available at the Gloucester Green Bus Station, although Park End Street is just a short walk away.
Visit the Oxford Bus website for more information. https://www.oxfordbus.co.uk/

Accommodation
If you require accommodation in Oxford, there is a range of accommodation available from high-class Oxford hotels to self-catering and local Oxford bed and breakfast establishments (guest houses and farm houses). University colleges also offer a range of accommodation to suit a range of budgets. Here are a few suggestions: http://www.universityrooms.com/en/city/oxford/home, http://conference-oxford.com/bb-self-catering, http://www.oxfordcity.co.uk/oxford/home_accommodation.html