Private Equity Accounting Training Two-day （私人股本的会计培训两天）.pdf

Private Equity Accounting Training Two-day Crash Course Detailed Agenda DAY 1 9:00 a.m. – 9:15 a.m. Registration, Breakfast Networking 9:15 a.m.- 10:00 a.m. Introduction to Private Equity (PE) and Private Equity Accounting  Private Equity as part of the Alternative Asset Class  What is PE and what distinguishes it from other asset classes?  Open-ended vs. Closed-end funds  Limited life vs. Ever-green funds – why does PE tend not to recycle and what are the exceptions to that rule (redrawable/recallable amounts)?  Types of funds  Mechanics of the PE funds  What differentiates PE accounting from accounting for other industries and asset classes  PE fund lifecycle and PE fund accounting processes 10:00 a.m. – 10:45 a.m. PE Fund Structures and Reading Interpreting LPAs  Basic structuring considerations in PE  Limited Partnerships as a preferred legal form  The typical plain vanilla PE structure explained - US vs. UK  Using combination of vehicles – master-feeder structures and parallel structures  Limited Partnership Agreement (LPA) – what clauses accountants need to be aware of 10:45 a.m. – 11:00 a.m. Mid-morning Break 11:00 a.m. – 12:00 p.m. Industry Developments Regulation Impacting Private Equity – brief overview  How has the PE landscape changed?  Fund terms  Shifting balance of power from GPs to LPs  Growing power of the Institutional Limited Partners Association ( ILPA)  ILPA developments  New fund structures – fund-lites (deal-by-deal, pledge accounts, etc.)  European and US developments – brief overview 12:00 p.m. – 1:00 p.m. Private Equity accounting investor reporting; Topic on Demand: What to expect from and how to