For more information contact: emailus@marcusevans.com Christophe Baviere who is the CEO at Idinvest Partners and a sponsor at the European Pensions & Investments Summit 2014 shares his thoughts on investing in private debt. Join the 2015 Summit along with leading regional pension investors and global asset managers in an intimate environment for a focused discussion of key new drivers shaping institutional investment strategies today. For more information contact: emailus@marcusevans.com

1. Capturing Value in
Private Debt Investments
Many large institutional investors have a
relatively mature approach to private
equity, but very few have an established
approach to the private debt asset
class. This is surprising to us, as there is
no reason for that.
What expertise is required to invest
in private debt?
Interview with: Christophe Baviere,
Chief Executive Officer, Idinvest
Partners
“In the current marketplace, investors
should consider increasing their asset
allocation to the private debt segment,
focusing on the lower end of midmarket companies where financing is
not in competition with private
placements or bond issues,” advises
Christophe Baviere, Chief Executive
Officer, Idinvest Partners. “They need
to concentrate on the most inefficient
components of the market where they
can still capture good asset value,” he
adds.
Idinvest Partners is a sponsor company
attending the marcus evans European
Pensions & Investments Summit
2014, in Montreux, Switzerland, 28 - 30
April.
In this economic landscape, what
assets should investors consider
a d di ng
to
t h ei r
in ves t m ent
portfolio? Why?
One of their biggest issues today is the
reduction of interest, which is making
investments less and less profitable on
listed bonds. They have an appetite for
assets that deliver returns relatively
regularly or fast, but return from fixed
income investments has slowed down.
To answer to this need, we propose
investing in private debt. Private debt
has two components: the mezzanine
market and the senior loan market.
To invest in privately owned mid-market
companies in Europe, you must be fully
dedicated to it. It is a patchwork made
up of local constraints, networks and
access. There is a large variety of legal
structures and regulations to deal with,
and the way business is done in each
country differs.
Good news is that this segment of the
market is not completely efficient.
Information is not shared by everyone
at the same time, but to be successful
with mid-market companies, you need
maximum access to information through
different sources.
You need access to deals through
different angles to really deploy the best
selection of investments. That is what
we are dedicated to at Idinvest.
What do you look for in companies?
What qualities or criteria are
important?
To be successful in the private debt
area, you have to deploy exactly the
same analyses that banks do. Look at
their profitability, stability of income, if
they have tangible assets to back your
risk. A disciplined investment process is
the starting point.
However, this market is less transparent
and efficient than listed markets. Large
private equity backed companies like
being in this investment universe
b e c aus e the y d o no t hav e to
communicate the same information that
their competitors that are listed are
forced to. Nevertheless, investors need
access to that information and Idinvest
is one of the best specialists in this
area.
What Idinvest also does is invest in
companies with a growth strategy - that
is our investment style. In Europe
organic GDP growth is very limited.
Some countries are better than others,
but none is booming. To capture growth
in Europe, investors need to generate
build-up, so we back companies that will
use the money to finance build-up: to
implement a buy and build strategy,
private debt has a role to play.
You need
access to
deals through
different
angles to
really
deploy the
best selection
of investments

2. About the European Pensions & Investments Summit 2014
The
Investment
Network
–
marcus evans Summits group
This unique forum will take place at the Fairmont Le Montreux Palace, Montreux,
delivers peer-to-peer information
Switzerland, 28 - 30 April 2014. Offering much more than any conference,
on strategic matters, professional
exhibition or trade show, this exclusive meeting will bring together esteemed
trends
industry thought leaders and solution providers to a highly focused and interactive
and
breakthrough
innovations.
networking event. The Summit includes presentations on increasing fund resilience,
establishing a robust risk framework, capturing investment opportunities and
assessing the true value of emerging market investments.
www.epi-summit.com
Please note that the Summit is a
closed
number
business
of
event
participants
and
the
strictly
limited.
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About Idinvest Partners
Idinvest Partners is a leading pan-European private equity manager focused on the middle market segment. With over €4 billion
under management, Idinvest Partners has developed several complementary areas of expertise including venture capital
investments in innovative European start-ups, primary, secondary and mezzanine investments in European non-listed companies,
and private equity consulting. Founded under the name AGF Private Equity in 1997, Idinvest Partners was formerly part of the
Allianz Group until 2010 when it joined forces with IDI Group to become independent.
www.idinvest.com
About marcus evans Summits
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To view the web version of this interview, please click here: www.epi-summit.com/ChristopheBaviere