1 www.agriinvestor.com/2014forum

AGRI INVESTOR FORUM November 6-7 | Hotel Allegro, Chicago uSA

www.agriinvestor.com/2014forum

Register your place by September 26 for early-bird savings

PEI New York 16 West 46th St, 4th Floor, New York, NY 10036

Mark Canavan Senior Portfolio Manager Real Assets New Mexico Educational Retirement Board

Robert Cowan Agriculture & Timber Director Utah Retirement Systems

Marcus Meadows-Smith Chief Executive Officer BioConsortia

Hear from leading speakers including:

www.agriinvestor.com/2014forum

1Local and institutional investors, family offices, fund and asset managers, senior government figures and advisors will gather to discuss the most pressing issues for agriculture investors.

Global capital gathers to give definition to an emerging asset class

LEAD SPONSORS

JOIN US IN CHICAGO

3Take advantage of this unique opportunity to put your questions to the experts and exchange ideas with your peers. Meet the game changers and find out if you shape up. Investors already confirmed to participate include: AIMCO, Allstate, MainePERS, New Mexico State Educational Retirement Board, OPTrust Private Markets, University of Chicago Office of Investments, University of Illinois Foundation, Utah Retirement Systems and more

Network with agriculture’s finest

2We’ve listened to our readers and the wider investment community to ensure that attendees take away practical information on issues such as:• How to allocate agriculture and timber within a portfolio• The opportunities in agriculture technology investment • Structuring an agri investment; options, fees and exit routes• Clarifying the returns on offer within this growing asset class

An editorial-led agenda focused on the big issues in agriculture and agribusiness

TO DISCUSS SPONSORSHIP AND SPEAKER OPPORTUNITIES PLEASE CONTACT:William Russell, Senior Conference Producer, PEI T: +44 (0) 20 7566 5439 E: william.r@peimedia.com

At the inaugural Agri Investor Forum in Chicago on November 6-7, we will discuss the various themes and trends that will shape the agriculture investment market for years to come.

Since Agri Investor launched as the only independent intelligence source tracking how capital is being deployed across agriculture, we have reported on a growing number of investments across agri sectors and geographies.

These deals have thrown up the various challenges and opportunities facing the investment community such as how to structure investments, where to find demand, how to invest sustainably and much more.

The Forum will bring together the buyside, the sellside and the advisors in between to debate and discuss the future for this growing asset class

REASONS TO ATTEND THE FORUM:

I look forward to meeting you in Chicago,

Louisa Burwood-TaylorEditor www.AgriInvestor.com

www.agriinvestor.com/2014forum

08.15 Coffee and registration09.00 Welcome from PEI & Chair’s introduction

09.10 Keynote panel:Evaluating agriculture as an investment• Classifying agribusiness investments - real estate, private

equity, infrastructure, real assets or listed securities?• Where does agri fit within a standard institutional

investment portfolio?• How should you think about investing in agriculture and

managing the investment risks• Is it worth the effort in terms of the potential returns and

other benefits? PANELLISTS INCLUDE:

Peter Roney, Managing Director, Cambridge Associates

09.50 Deal Mechanic keynote: an operational excellence story explained by the participantsPaine + Partners and Verdesian• Building an operating company in the agri space which

aids productivity in the value chain• Buy-and-build; Acquiring selectively and combining

good businesses • Sourcing and supporting an exceptional management

team• Proving the value-add to investors

Kevin Schwartz, President, Paine + Partners

10.15 How to structure an agri investment – are there too many options?• The suitability of the “2-and-20”, 10-year private equity

fund structure across the whole agri universe• Fees: the realistic vs the wishful• Does the company structure provide an attractive

solution and easy exit route?• Should farmland and agribusiness offerings have

different structures? PANELLISTS INCLUDE:

James Paton, Managing Director, Vulpes Investment Management

10.50 Coffee and networking break11.20 Panel: Inside the mind of the agriculture

investor• Why are institutional investors looking to agriculture and

agribusiness investments?• Differentiating fund manager strategies and due diligence• Where are the outsized returns and how do you

access them?• Comparing experiences of institutional investors in

agri- time horizons, fund investments versus going direct MODERATOR:

Rob LeClercq, Founder, Access Alpha

DAy ONE: THURSDAy, NOVEMBER 6

AGENDAThis is a provisional agenda and remains subject to change at the discretion of the organisers. Please visit the website for the latest updates.

PANELLISTS INCLUDE: Mark Canavan, Senior Portfolio Manager - Real Assets, New Mexico Educational Retirement Board Robert Cowan, Agriculture & Timber Director, utah Retirement Systems. Sanjay Mansukhani, Senior Manager Research Consultant, Towers Watson Biff Ourso, Senior Director & Portfolio Manager, Natural Resources, TIAA-CREF.

12.10 Data presentation: trends & analysis in farmland valuation and investment returns

Bruce Sherrick, Professor of Agricultural & Applied Finance, university of Illinois and Director, Center for Farm and Rural Business Finance

12.25 Panel: How private equity-style investing can add value in agriculture and agribusiness• To lease or to operate: buy-and-lease investment models

versus own-and-operate opportunities• How buy-and-build strategies can work in agriculture• Applying operational value creation to agriculture

investments• Strategic positioning - from due diligence through the

hold period and exit planning PANELLISTS INCLUDE:

Dr David Buckeridge, Operating Partner, Paine + Partners. Michelle Brooks, Managing Principal, Arlon Group

13.10 Lunch14:15 Workshop series l (A & B run concurrently) Workshop A – Feeding Asia; the role of

Australia and New Zealand• Growth potential and operational improvement in

agricultural industries• Successes in servicing Chinese protein demands and

evolving consumer preference• Attracting capital: Getting domestic investors more involved• Buy-and-lease or own-and-operate?

MODERATOR: Chris Knepler, Investment Commissioner, Australian Trade Commission - Chicago PANELLISTS INCLUDE: David Camerlengo, Trade & Investment Commissioner, North America, Trade & Investment Queensland

Workshop B – Risk profiles and jurisdictional differences in South America• Dealing with political challenges and government

regulation• Have foreign land ownership restrictions stalled

investment?• Comparing strategies; pasture conversion, acquiring

cropland or mixed developments?• Challenges and return expectations of the various

strategies available PANELLISTS INCLUDE:

Jorge Karadima, Managing Partner, Sembrador Capital

www.agriinvestor.com/2014forum

AGENDA

AGENDA

PANELLISTS INCLUDE: Bruce Kahn, Portfolio Manager, Sustainable Insight Capital Management. Kim Morison, Managing Director, Blue Sky Water Partners

10.10 Deal Mechanic case study: an operational excellence story explained by the participants

Vulpes Investment Management• Constructing an international agricultural portfolio• Explaining the rationale behind making two different

regional land purchases in the same space• Examining the different results achieved• How to achieve successful exits in agriculture

Jonathan Pendock, Senior Advisor, Vulpes Investment Management

10.30 Coffee and networking break11.00 Discussing the role of venture capital in

agriculture technology as production slows• Precision agriculture- how far can it go?• Are there still attractive buying opportunities in big data?• Is drone technology the future?• Exit options - thinking about timing and identifying

likely buyers MODERATOR:

Rob Leclerc, Chief Executive Officer, AgFunderPANELLISTS INCLUDE: Dr Jim Budzynski, Managing Principal, MacroGain Partners. Jonah Kolb, Vice President, Moore & Warner Farm Management

11.45 Assessing the forestry opportunity• Lessons learned from trends in forestry and other asset

classes• Where do timber and agri fit within a portfolio?• Should you manage agriculture and timber investments

jointly or separately?• How timber investments can weather downturns

PANELLISTS INCLUDE: Jamie Lord, Manager, Investments - Agricultural Assets, NewForests

12.30 Closing keynote:AgraQuest: a bio-pesticide turnaround and success story• From financial distress to successful exit of nearly

$500 million in four years• Transformation of the business: strategy, alignment and

execution• Determining the trade-offs, selecting the right team, and

optimizing the exit options• Value creation for all stakeholders: investors, customers,

acquirer and the environment Marcus Meadows-Smith, Chief Executive Officer,

BioConsortia

12.50 Chair’s closing remarks 12.55 Closing lunch

DAy TWO: FRIDAy, NOVEMBER 7

08.50 Coffee and registration09.25 Chairman’s welcome back09.30 Water: a viable investment opportunity?

• How to invest in water• Comparing global regulations around water rights• The key future trends - drought management, liberalising

water rights, etc• Assessing the impact of increased weather volatility

15.00 Workshop series II (C & D run concurrently) Workshop C – Land titles, the Ukrainian crisis

and Black Earth - opportunities in Eastern Europe and Russia• The challenges of land aggregation: does this make the

investment thesis less attractive?• Has the ukraine crisis affected investor demand?• How good is the soil really?

Workshop D – Africa and the importance of infrastructure• Comparing returns in Africa with other emerging markets• Which institutional investors have shown an interest in

Africa?• The availability of land rights and the effect on ability to

deploy capital• Operational challenges in African agri and how to

address them

15.45 Refreshments and networking break16.15 Profiting from sustainability: the investment

case for ecological and regenerative agriculture• Ecology vs technology as a source of farm profitability• Can and should organic systems feed the world?• Mitigating the social and environmental risks of agri

investing• Clean, green and healthy food – consumer fad or a

global trend? MODERATOR:

Paul McMahon, Co-Founder & Managing Partner, SLM Partners

17.00 USA and Canada: balancing access to the most mature global market with reduced potential for returns• Examining the effect of an ageing North American

farming population• uS farmland valuations- a bubble or are there still

growth opportunities?• How does government involvement affect agri

asset values? MODERATOR:

Paul Pittman, Chief Executive Officer, Farmland Partners

17.45 Close of day one and drinks reception

www.agriinvestor.com/2014forum

Michelle Brooks Managing Principal Arlon Group

Dr David BuckeridgeOperating Partner Paine + Partners

Dr Jim Budzynski Managing Principal MacroGain Partners

David Camerlengo Trade & Investment Commissioner North America Trade & Investment Queensland

Mark CanavanSenior Portfolio Manager Real AssetsNew Mexico Educational Retirement Board

Robert CowanAgriculture & Timber Director Utah Retirement Systems

Bruce KahnPortfolio Manager Sustainable Insight Capital Management

Jorge Karadima Managing Partner Sembrador Capital

Chris Knepler Investment Commissioner Australian Trade Commission- Chicago

Jonah Kolb Vice President Moore & Warner Farm Management

Rob LeclercChief Executive Officer AgFunder

Rob LeClercq Founder Access Alpha

Jamie LordManager Investments Agricultural AssetsNewForests

Sanjay MansukhaniSenior Manager Research Consultant Towers Watson

Paul McMahon Co-Founder & Managing Partner SLM Partners

Marcus Meadows-SmithChief Executive Officer BioConsortia

Kim Morison Managing Director Blue Sky Water Partners

Biff OursoSenior Director & Portfolio Manager Natural Resources TIAA-CREF

James Paton Managing Director Vulpes Investment Management

Jonathan Pendock President Vulpes Investment Management

Paul Pittman Chief Executive Officer Farmland Partners

SPEAKERS

Peter RoneyManaging Director Cambridge Associates

Kevin Schwartz President Paine + Partners

Bruce Sherrick Professor of Agricultural and Applied Finance University of Illinois

Register your place by September 26 for early-bird savings

Pricing options Early bird price valid until September 26 SAVE Regular price valid

after September 26

One delegate $1,895 $500 $2,395

Two delegates $3,790 $760 $4,550

Three delegates $5,685 $785 $6,470

Further discounts apply for extra delegates. Call for more details +1 212 633 1073

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prior to the date of the forum will receive a 100% credit to be used at another PEI event for up to 12 months from the date of issuance. Payment policy: Payments can be made by American Express, Visa, MasterCard or company check. Full payment must be received prior to the event. If registering 4 weeks or less prior to the event, you must pay by credit card. For more information regarding administrative policies such as complaint and refund, please contact Customer Services on +1 212 633 1073.