Emerging Markets Private Equity Association:

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• Emerging Markets Private Equity Association
• Industry Collaboration to Strengthen the Asset
  Class

Roger Leeds Chairman, EMPEA Board of Directors
May 19, 2005
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WHY EMPEA?
EMPEA is an industry association established by
leading practitioners to address a range of
issues critically important to strengthening PE
performance in emerging markets
What is EMPEA? A global membership organization
serving PE and VC firms, LPs and service
providers in the emerging markets of Asia,
Eastern Europe, Africa, Latin America and the
Middle East EMPEAs Mission To serve its members
with services and programs that strengthen PE
performance and attract additional capital flows
to emerging markets EMPEAs Services and
Programs Address a range of high priority issues
for EMPEA members and the PE industry at large,
such as strengthening financial reporting and
valuation standards, creating a data base on
industry performance, and assisting with
skills-based practitioner training
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WHY INDUSTRY LEADERS CREATED EMPEA
Thoughtful cooperation, regular interaction and
coordinated actions among key stakeholders
involved in emerging markets PE will strengthen
the asset class

• A primary explanation for PE underperformance in
  emerging markets is that the industry is
  fragmented and unorganized
• Like other industries, PE investors encounter
  common challenges that can effectively be
  overcome by collaborative action
• International best practices can serve as a
  powerful learning tool if adapted to local
  conditions
• A critical mass of PE investors and other
  stakeholders have the motivation and self
  interest to benefit from collective action on key
  issues effecting performance
• The industry has reached a stage of development
  where a clear need exists for more effective
  networking and information exchange between GPs
  and LPs

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EMPEAS ACCOMPLISHMENTS
Although a start-up, EMPEAs first year
achievements have been considerable

• Recruited full-time Executive Director and staff
• Established formal governance structure
  appointed Board of Directors and International
  Advisory Board comprised of industry leaders
• Launched global membership campaign that
  attracted more than 60 dues paying members,
  including including GPs, LPs, DFIs and service
  providers
• Raised more than 400,000 in membership dues,
  Charter Memberships and grants
• Published first issue of quarterly PE newsletter
  that is both substantive and informative for
  EMPEA members and others interested in
  strengthening the asset class
• Organized the first in series of symposia on key
  PE issues, stimulating an informed dialogue
  between GPs,LPs and other PE stakeholders
• Built new website (www.empea.net)

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EMPEA MEMBERSHIP IS RAPIDLY GROWING
First-year membership totals 62 firms operating
in more than throughout emerging market countries
Debevoise Plimpton LLP Delta Private Equity
PartnersEFG-Hermes Private Equity Emerging
Markets Partnership Ethos Private Equity LtdFMO-
Netherlands Development CompanyGlobal
Environment Fund GP Investimentos International
Finance Corporation
Charter Members Abraaj Capital
Limited Actis Advent InternationalAsian
Development Bank Barbosa, Müssnich
AragãoBaring Private Equity Asia Limited Baring
Vostok Capital Partners CDC Group plc ChrysCapital
Luxembourg Government Norton Rose SHUAA
PartnersSiguler Guff Company LLC SVG Advisers
Limited Swiss State Secretariat for Economic
Affairs The Carlyle GroupZephyr Management, LP
IDFC Asset Management Co. Lombard
InvestmentsMekong Capital, Ltd Navis Capital
Partners Limited Romanian-American Enterprise
FundSmall Enterprise Assistance Funds Stratus
CorporationThousand Hill VenturesTMG Capital
Partners LtdTuninvest Finance Group Votorantim
Novox NegociosWalden InternationalWestern NIS
Enterprise Fund
Members Aureos Advisers Limited BPE
InvestimentosBrait South Africa Limited Capital
International Capital Z Investment
Partners Caribbean Basin Investors
LimitedCiticorp Venture Capital International
Conduit Capital Partners LLC Euroventures
Ukraine Fund FIR CAPITAL Partners Ltda. Global
Horizon Fund GVFL Limited
Associate Members Barnellan Equity Advice
LtdLiberty Global Partners OMelveny Myers
LLP Technoserve
LP Members Adams Street Partners Ltd.
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PROGRAM AGENDA
EMPEA programs will be designed to respond to the
expressed priorities of its members
A key EMPEA objective is to undertake these
programs in collaboration and close coordination
with national and regional VC associations
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WHO SHOULD BE AN EMPEA MEMBER?
The Association was created to serve a diverse
range of PE stakeholders

• Fund managers
• Local and international investors (LPs)
• Development Finance Institutions
• Industry service providers
• Local government institutions

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TAILORED MEMBERSHIP FEES1 AND BENEFITS
1. Pricing as of May 9, 2005.
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DISCUSSION WE WANT YOUR FEEDBACK!

• What are the biggest obstacles to emerging
  markets PE success that could be addressed
  through industry cooperation?
• What should be EMPEAs programmatic priorities?
• How can EMPEA support local initiatives to
  strengthen the PE investment climate (e.g
  lobbying for government reform)?
• Is there a demand for skill-based practitioner
  training for local fund managers? If so, what
  role should EMPEA play?
• How can EMPEA collaborate and bring value added
  to the work of national and regional VC
  associations?

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www.empea.net
P.O Box 33606 Washington, D.C. 20033 (202)
587-3242 empea_at_empea.net EMPEA is a nonprofit
501(c)(6) organization