Panel Session: Tales from the Trenches – Creating Value from

CrisisDay 1 11:20 – 12:15

49%

27%

24%

Yes: I see numerous situations shaping up where earnings visibility and valuation create highly attractive opportunities

Not yet: we are potentially still a ways from bottom and the right answer for now is to sit tight.

Limited: there are a small number of current opportunities that we believe to be defensive or counter-cyclical, but these are relatively few in number.

Do you see substantial near term investment opportunity for EMPE developing in this downturn?

29%

32%

39%

Yes: we will see more control deals, as a result of need to have more influence over portfolio companies and their management.

Yes: we will see more growth capital as result of leverage unavailability and a need to be aligned with local sponsors who can navigate difficult environments.

No: we will continue to see a balanced mix of both.

Do you feel the EMPE investment model will shift between control deals and growth capital as a result of the crisis?

61%

21%

18%

Public companies are more attractive – private valuations have not adjusted enough yet

Private companies are more attractive – we’re seeing good discounts to public comps

I rate them equally

As you look at the emerging market valuation landscape, how do you rate the attractiveness of public vs. private company valuations