PRIVATE EQUITY AND VENTURE CAPITAL ASIA

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1 PRIVATE EQUITY AND VENTURE CAPITAL ASIA October 14 17, 2009 beijing, China

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3 Redefining Investment Strategies As investors seek opportunities in Asia and other emerging markets, they are confronted with a global recession, a worldwide credit crisis, and a breakdown of the international financial system. Leading investors realize that traditional approaches, no matter how successful in the past, no longer will suffice. Now private equity groups must adapt to evolving cycles and markets or risk being surpassed by their rivals. While these pressures are transforming the private equity industry worldwide, nowhere do they have more impact than in Asia. If investors, entrepreneurs, and intermediaries are to navigate this shifting landscape, they must acquire an in-depth understanding of the complex dynamics that are redefining the world of private equity. To this end, the School of Economics and Management, Tsinghua University and Harvard Business School jointly offer Private Equity and Venture Capital Asia. This program helps you seize opportunities, optimize investment portfolios, negotiate better deals, and increase returns on investment. In addition to honing your analytical and decision-making skills, by exploring best practices around the globe, you will master innovative approaches required to manage through the downturn and emerge better equipped to thrive in a recovering economy in Asia and beyond. At the same time, this stimulating program offers the invaluable opportunity to develop ongoing relationships with top industry leaders.

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5 AN INTEGRATED EDUCATIONAL PARTNERSHIP The School of Economics and Management, Tsinghua University and Harvard Business School have joined academic forces to offer the Private Equity and Venture Capital Asia program, which addresses key challenges that face private equity firms in rapidly emerging economies. Applying the principles of academic rigor, diversity, and impactful learning, this powerful educational alliance enables the outstanding faculty team to deliver a comprehensive three-day learning experience. The history of the School of Economics and Management, Tsinghua University (Tsinghua SEM) dates back to 1926 as the Department of Economics and to 1979 as the Department of Economics and Management Engineering. In 1984, Tsinghua SEM was established as one of the first business schools in China. Currently, Tsinghua SEM has a total of 136 faculty members and more than 4,000 students, offering a variety of academic programs at undergraduate, graduate (including MBA/EMBA), and doctoral levels. With eight departments and several research centers, Tsinghua SEM contributes academic knowledge that fuels the Chinese economic renaissance and cultivates business leaders for China and the world. For more than a century, the mission of Harvard Business School (HBS) has been to educate leaders who make a difference in the world. Renowned for its legacy of innovation, HBS introduced the case method to management education, developed the concept of executive education, and created the world s first MBA program. A global network of five research centers on four continents extends the School s groundbreaking research efforts to the international marketplace. Founded in 1908, HBS is a longstanding world leader in redefining the nature of management education, shaping the practice of business in every industry, and inventing the future of business. LANGUAGE To ensure the most comprehensive learning experience, the Private Equity Venture Capital Asia program is taught in both English and Chinese with translation. Participants will preselect either Chinese or English for their classroom materials. When forming the discussion groups, program administrators consider each senior executive s language capabilities to ensure optimum group interaction.

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7 Private Equity and Venture Capital ASIA DATES: October 14 17, 2009 PROGRAM FEE: $7,750 USD LOCATION: Tsinghua SEM beijing, China Program Objectives With geographic barriers eroding but liquidity rapidly drying up, investment opportunities in Asia and other countries have become more difficult to price for growth and risk. Investors with access to cash, who quickly can spot the best opportunities, but maintain judgment that comes only from education and experience will reap the rewards. Private Equity and Venture Capital Asia enhances your expertise in today s dynamic global markets. As a result, you will be prepared to establish the infrastructure, portfolio, and decision-making processes critical to maximizing return on your investments. CURRICULUM Private Equity Globalization When making investments around the world, nothing should be left to chance. As you explore the dynamics of global capital and global companies, you will improve your ability to: Manage a multinational fund versus one run from a single office Adjust your investment strategies for the varying demand-and-supply dynamics of different countries and regions Assess the impact of traditional management practices and the localization of investments Anticipate exit difficulties and other risks Emerging Markets New high-growth markets like Asia bring a wealth of opportunities, but often require a different investment style. As you delve into the complexities of emerging market investments, you will learn how to: Identify new funding opportunities Embrace earlier-stage investments Understand the vast differences between fundraising and investing efforts Make decisions that take into account the distinctive financial and cultural characteristics of a country or region The Implications of Both Firm and Fund Size Are your investment strategies aligned with the size of your firm and your fund? By addressing the unique challenges faced by firms at different stages of growth, the program helps you to: Understand how the size of your firm or fund affects the perceptions of investors, target-company managers and owners, as well as the broader investment community Explore how firm and fund size can influence deal sourcing and selection, enterprise valuation, portfolio mix, and the management of portfolio companies PARTICIPANTS Partners and principals from private equity and venture capital firms; entrepreneurs in the process of receiving capital and/or structuring capital funds; professional intermediaries providing services such as banking, accounting, or legal counsel to the industry.

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9 THE FACULTY This joint program is taught by a core faculty of Tsinghua SEM and HBS professors who are skilled educators, groundbreaking researchers, and award-winning authors. Faculty leverage their business expertise and field-based research to create new knowledge and enduring concepts that shape the practice of management. The result is a teaching team that exposes participants to multiple perspectives, challenging their thinking on many levels. Please visit or for more detailed biographies. JOSH Lerner, Jacob H. Schiff Professor of Investment Banking at Harvard Business School. Member of the Finance and the Entrepreneurial Management Units; faculty cochair of Private Equity and Venture Capital Asia. Research areas: structure and role of venture capital and private equity organizations; the impact of intellectual property protection, particularly patents, on the competitive strategies of firms in high-technology industries. LI Jin, Associate Professor of Business Administration at Harvard Business School. Member of the Finance Unit; and faculty cochair of Private Equity and Venture Capital Asia. Research areas: empirical corporate finance, including compensations of corporate managers, and asset pricing, including the comparison of securities markets across countries. Current research: trading patterns of institutional investors such as hedge funds, mutual funds, and pension. LI Liao, Associate Dean. Director, EMBA Program. Professor, Department of Finance, School of Economics and Management, Tsinghua University; and faculty cochair of Private Equity and Venture Capital Asia. Research Areas: Corporate Finance and Corporate Strategy, Private Equity and Venture Capital, New Business Model and financing, M&A.

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11 ADMISSIONS APPLICATION PROCESS Candidates can apply to the program through Tsinghua SEM or HBS. Applications are requested at least six weeks before the program start date. Qualified candidates are admitted on a rolling, space-available basis, and early application is encouraged. ADMISSION REQUIREMENTS Admission is selective and based on professional achievement and organizational responsibility. No formal educational requirements apply. Executive Education programs enhance the leadership capacity of the managers enrolled as well as their organizations, and full commitment is expected from both. While participants devote time and intellect to the learning experience, sponsoring companies agree to assume fees, provide for reasonable expenses, and relieve individuals of their work responsibilities during the program. PROGRAM FEE The program fee covers tuition, books, case materials, accommodations, and most meals. Payment is due within 30 days of the invoice date. If admission is within 30 days prior to the start of the program, payment is due upon receipt of the invoice. Cancellation policies are outlined in the information provided to applicants upon admission. FOR MORE INFORMATION, please contact: TSINGHUA SEM Ms. Eliza Zheng Director of International Executive Programs Telephone: Fax: [email protected] HARVARD BUSINESS SCHOOL Ms. Bobbi Carrey Portfolio Director Executive Education Telephone: Fax: [email protected]

12 PRIVATE EQUITY AND VENTURE CAPITAL ASIA OCTOBER 14 17, 2009 beijing, China Ms. Nancy DellaRocco, Harvard Business School, Soldiers Field, Boston, MA U.S In accordance with Harvard University policy, Harvard Business School does not discriminate against any person on the basis of race, color, sex or sexual orientation, gender identity, religion, age, national or ethnic origin, political beliefs, veteran status, or disability in admission to, access to, treatment in, or employment in its programs and activities. The following person has been designated to handle inquiries regarding the nondiscrimination policies: Ms. Nancy DellaRocco, Harvard Business School, Soldiers Field, Boston, MA U.S. Programs, dates, fees, and faculty are subject to change President and Fellows of Harvard College.