1	Caribbean Entrepreneur Of the Year Business Conference 2001 Accessing Private Equity Funds: The Fund Manager’s Perspective Jelle Sjoerdsma Managing Director Dynamic Equity Limited www.dynamic-equity.com
2	Key Points 1 Access is Easy 2 Selection is Hard
3	Access is Easy Revenues of independent Fund Managers consist of Management Fee over capital Increasing our revenue depends on maximising our invested capital Fund Managers are highly motivated to invest Dynamic Equity currently has TT$ 33 million we want to invest as fast as we can Our doors are always open
4	Selection is Hard Profits of independent Fund Managers depend mostly on profit share Profits of private equity funds depend on increasing value of investee companies Must find companies with highest potential to: Increase in value, and Realize value Fund Managers are highly motivated to be very selective
5	Potential to Increase Value Fund Manager selects by evaluating People entrepreneurial skills to create and build value managerial skills to manage and protect value Market potential for growth margins and profitability Competitiveness sustainable advantage unique differentiation
6	Potential to Realize Value Fund Manager selects by evaluating Risks what can go wrong how are results affected if things do go wrong Readiness how prepared is the company can the company manage and handle growth Exit opportunities to sell equity stake later anticipated timing of exit
7	Fund Manager’s Summary Find as many opportunities as you can ACCESS IS EASY Select those with the highest future value SELECTION IS HARD viable exit ready to rumble manageable risks ability to compete attractive market good management BEST ENTREPRENEURS