About This Event
“The caps are not the constraint. The due diligence is.”
A practical programme on investing scheme assets in private markets within East African regulatory limits. It covers the caps on private equity, venture capital and offshore assets, the diligence and valuation work these assets demand, and how trustees oversee REITs and direct co-investments.
What You'll Explore
An alternatives allocation policy with explicit limits and reporting standards
A manager due-diligence checklist covering fees, carry and governance rights
A liquidity test matched to your scheme's benefit payment profile
A working view of how private asset valuations are produced and where they flatter
A comparison framework for co-investments, REITs and infrastructure proposals
Who Should Attend
Open to all qualifying staff, particularly: Investment Committee members, Fund Managers, Treasury Officers, Principal Officers.
Why This Course Matters
Caps Used Deliberately
Know exactly how much of the fund may sit in private equity, venture capital, REITs and offshore assets under RBA, URBRA and SSRA rules, and build an allocation that uses the headroom on purpose. Most breaches are discovered at valuation, months after the decision that caused them.
Due Diligence That Holds
Run the diligence a private market commitment actually requires: manager track record, fee and carry structures, governance rights, exit assumptions and the valuation policy behind reported returns. You leave able to tell a credible fund from a well-marketed one before money is committed.
Illiquidity Priced Properly
Match a ten-year commitment against the scheme's benefit payment profile, so a capital call never forces the sale of liquid assets at the wrong moment. Trustees leave with a liquidity test they can apply to every alternative proposal put in front of them.
Programme
Day 1 am
Regulatory caps on private equity, VC and offshore assets
You will work through the investment limits in each East African jurisdiction and build an allocation framework that shows, at any date, how much headroom the scheme still has in each alternative asset class.
Day 1 pm
Manager selection, fee structures and governance rights
You will interrogate fund documents, comparing management fees, carried interest, hurdle rates and the governance rights that determine what a limited partner can influence once capital is committed.
Day 2 am
Valuation, reporting and performance measurement
You will examine how private asset valuations are produced, why reported returns flatter illiquid portfolios, and which performance measures let you compare a fund fairly against listed alternatives.
Day 2 pm
Co-investments, REITs and alternatives policy defence
You will assess direct co-investments, real estate investment trusts and infrastructure on their cash-flow profiles, then defend an alternatives allocation policy with limits and diligence standards before an expert panel.
Standards & Faculty Benchmark
RBA, URBRA & SSRA guidelines
Prescribed investment limits, valuation rules and reporting requirements for retirement benefit schemes.
OECD Core Principles
OECD Core Principles of Private Pension Regulation on investment regulation, diversification and the prudent person rule.
CFA Institute & GIPS
Portfolio management body of knowledge and Global Investment Performance Standards for scheme reporting.
These frameworks set the limits your supervisor enforces and the performance standards your members' returns are measured against.
Is This Right for You?
- ☑You sit on an investment committee weighing private market proposals
- ☑Your scheme is near, or unsure of, its regulatory investment caps
- ☑You want to challenge a fund pitch on structure, not just returns
Good to Know
Sessions assume familiarity with listed markets but no prior private markets experience.
The Bottom Line
Leave able to say yes to a private markets proposal for reasons your supervisor and your members would accept.
Recommended For
Open to all qualifying staff, particularly: Investment Committee members, Fund Managers, Treasury Officers, Principal Officers.