8:45 Chairpersons Welcome and Opening Remark

Chairperson:

Bhakti Mirchandani
Vice President
UNITUS CAPITAL

9:00 Part 1 – Deal-Making In The Current Environment And Approaches To Maximizing Returns

• Addressing the issue of liquidity from investors perspective (how long is the maturity level/requirement?)
• Identifying the opportunities for secondary transactions
• Discussing the role of convertibles and other structured deals
• Building strong relationships with MFI portfolio companies despite compressed valuations

Moderator:

Asad Mahmood
Managing Director
DEUTSCHE BANK

Panelists:

9:50 Part 2 – Microfinance Mergers: Consolidation As A More Efficient Mechanism For Growth

• Discussing growth through acquisitions vs. organic growth: risks and returns
• Comparing acquisitions in hard economic times as a public good vs. better times: acquiring clients of failing institutions and preventing write-offs of loans to failing MFIs - the pros and the cons
• Merging at the bottom of the pyramid: why and how?
• Considering key legal aspects
• Looking into future trends and possible scenarios in the microfinance sector

Moderator:

Elissa McCarter
Director of Development Finance
CHF INTERNATIONAL

Panelists:

11:00 Part 3 – The Resilience Of The Microfinance Industry And Future Risk Management Strategies

• Discussing unforeseen risks --the black swans— and how MF investors were blindsided by risks such as lack of liquidity, the collapse of the securitization market as well as the difficulties of refinancing
• What were the foreseen risks that were not appropriately hedged (white swans)?
• Identifying what are the current black and white swans?
• Suggesting steps the industry as a whole should take to safeguard against black and white swans

Moderator:

Zac Pessin
President & CEO
DISTRIBUTED CAPITAL GROUP

Panelists:

1:00 We’re The Government And We’re Here To Help: Public Sector Microfinance Bailouts One Year Later

• Discussing the impact on the microfinance industry of public sector efforts to provide support to microfinance and also the impact on investors
• Issuing credit guarantees and discussing defaults
• Identifying the greatest successes and greatest failures among public sector microfinance bailout efforts

Moderator:

Sandra Darville
Multilateral Investment Fund (MIF/FOMIN)
IADB

Panelists:

1:50 The Equity Investor Panel: Private Equity, Venture Capital And More…

The demand for microcredit continues to drive impressive growth for many MFIs. Management teams of MFI’s have become increasingly well-informed about the equity investment process; we’ll explore the latest innovations for equity investors.

• Making investments: deal sourcing, double-bottom line screens, valuation, structuring, restrictions against foreign investment, negotiation
• Managing and monitoring existing investments: triggers
• Exits: how to ensure socially responsible exit
• India vs. Rest-of-World: why is India different? What best practices can be transferred from India to the rest of the world and vice versa?

Moderator:

Bhakti Mirchandani
Vice President
UNITUS CAPITAL

Panelists:

3:30 Benchmarking Social Impact And Financial Returns – Do Investors Need To Adjust Their Financial Expectations?

• Assessing the MFI’s impact on social performance – what social good are you as an investor getting out of your investment?
• Asking the right questions for proper due diligence before and after the investment to ensure both social and financial returns
• Reporting standards and monitoring systems for MFI to ensure transparency
• Looking into new social rating tools linked with financial returns
• Debating how social the social investors actually are - given their return expectations?
• Understanding the double bottom line in light of adjusted financial return expectations
• Discussing what financial and social returns to expect in 2010 and 2015

Moderator:

Laura Foose
Social Performance Task Force
CGAP

Panelists:

4:30 Foundation Perspective: The Case For Program- Related Investments Why Grant Making Is Not Enough

• Discussing how a private foundation prudently can make investments without jeopardizing the value of its foundation
• Ensuring that the investment opportunities are sufficiently aligned with a foundation's mission
• Identifying what skills and networks that are required to make program-related investments

Moderator:

Brinda Ganguly
Associate Director
THE ROCKEFELLER FOUNDATION

Panelists:

5:30 End Of Day 1