Emerging Markets Investing

As the emerging markets continue to gain broader acceptance in the investing community, where will the most successful investment opportunities lie? Which new countries and industries are attracting the most attention of investors?  How have regulatory environments changed in certain countries to encourage investment activity? Have the recent Chinese accounting scandals affected the mindset of LPs and the overall fund raising environment? How has the current economic turmoil in the developed world impacted investment valuations and deal opportunities in the emerging markets?

Moderator


 

Paul Tierney Jr. – Adjunct Professor, Columbia Business School

Paul E. Tierney, JR. is Managing Member of Development Capital Partners and Aperture Venture Partners, two private investment vehicles specializing respectively in emerging markets and early stage healthcare ventures.  For the past 19 years, Mr. Tierney has been Chairman of TechnoServe, Inc., a private international economic development organization. He was the Founder and Co-General Partner of Coniston Partners and several other large investment partnerships. Previously, Mr. Tierney served as the Managing Director of Gollust, Tierney and Oliver, an investment capital management company.  He has been a Director of United Airlines Corp.; Liz Claiborne, Inc.; TW Services Corp.; The Argentine Investment Fund, Earth Color, Inc. and St. John’s College.  Mr. Tierney is currently the Chairman of Fidus Mezzanine Fund and a Director of Nina McLemore, The Protective Group, Altea Therapeutics, and Prosperity Voskhod Fund. He serves as a member of the Council on Foreign Relations.  Mr. Tierney is a returned Peace Corps Volunteer, a graduate of the University of Notre Dame (Magna cum Laude) and the Harvard Business School (Baker Scholar).  He is an Adjunct Professor of Emerging Markets at Columbia Business School.

 

Panelists


 

Mukul Gulati `05 - Managing Director, Zephyr Management LP

    Mukul Gulati is the Managing Director for Zephyr Peacock India Management. Mukul performs deal origination, evaluation, structuring and portfolio monitoring activities for Zephyr’s India Private Equity Funds and is responsible for overall leadership of Zephyr’s Bangalore office. Mukul serves on the Boards of Miles Software, WLC India, Metro Wireless, Trimax IT Infrastructure and Services Ltd and Aizant Research.

Mukul has more than 15 years of experience in the investment business including private equity, investment research and general management. He has extensive experience in corporate M&A and due diligence activities. Previously, he worked at Multex and Reuters, where he was in senior leadership roles and co-founded an equity research product now widely used by institutional investors.

Mukul received an MBA with honors from Columbia Business School. He is a cum laude graduate of the University of Maryland, where he was a Dean’s Scholar at the Department of Economics.      

Karin Koiffman - Partner, Kirkland & Ellis LLP

Karyn Koiffman is a corporate partner in the New York office of Kirkland & Ellis LLP. Karyn represents private equity sponsors, public and private companies in a wide range of domestic and cross-border business and finance transactions. Karyn focuses her practice in mergers and acquisitions, leveraged buyout transactions, recapitalizations, restructurings, going private transactions and related corporate matters. Karyn is also a member of the Firm's Latin America Practice group and has extensive experience of legal and business issues in Brazil. Karyn is a graduate of Mackenzie Presbyterian University, Sao Paulo, Brazil, LL.B. and the University of Michigan Law School, LL.M.

Thando Mhlambiso `92 - Director, Allan Gray

Thando leads Allan Gray's African activities outside of South Africa. Over the last twenty years, he has worked in various capacities in principal investing, investment banking and corporate law in southern Africa and the United States. Notably, after graduate school, Thando began his career as a corporate finance attorney with the law firm Skadden, Arps, Slate, Meagher & Flom and as an M&A associate with JP Morgan, in New York before returning to South Africa in 1998. In South Africa, he was co-founding partner of Kagiso Ventures Private Equity Fund (a $50m SA –focused LBO fund), CEO of Sanlam Private Equity (an $800m southern Africa focused private equity business) and managing principal and head of infrastructure investments across Africa for Absa Capital (the Africa arm of Barclays Capital). Thando was vice-chairman of council of University of Cape Town, a trustee and chairman of the investment committee of National Empowerment Fund (the South African government’s venture capital fund) and chairman of E2 (strategic equity partner to Allan Gray Limited and a philanthropy that provides early stage financing to business and social entrepreneurs in South Africa). Thando earned an AB in Biology from Brown University, an MBA in Finance from Columbia Business School and a JD from Columbia University School of Law (where he was an international fellow and an editor of the Columbia Business law Review). He is admitted to the New York State bar.

Sebastian Villa `04 - Partner, Southern Cross

Sebastian Villa has over 15 years of entrepreneurial and private-equity investing experience. At Southern Cross Group, Mr. Villa is the Partner responsible for the fund’s operations in Mexico and Colombia. Created in 1998, Southern Cross has invested successfully in a wide variety of industries throughout Latin America and is currently the largest private equity group in the region. In 1999, Mr. Villa co-founded South-Net, a Latin American technology incubator sponsored by Southern Cross, where he successfully led investments in Construmega, hotelDO, deAutos and MayoristaNet. Before joining Southern Cross, Mr. Villa was a member of TCR, a New York based private equity firm. In addition, Mr. Villa worked as a consultant at BCG's Buenos Aires office and as Area Manager for Shell in Argentina.

Mr. Villa holds an Economics degree from the Universidad de San Andres, Buenos Aires, and an MBA from Columbia Business School.