The EMPEC 2006, an international private equity conference, took place with tremendous success at the World Trade Center Moscow on May 29 and 30th, 2006.

The International Council of Institutional Investors joined efforts with the political and economic elites of Eastern Europe, to hold the inaugural Emerging Markets Private Equity Conference (EMPEC). A global investment company, Otkritie Asset Management was the lead sponsor of the conference, and the supporting partners included the Russian Chamber of Commerce & Industry, New Economic School and a leading international private equity firm - Pacific Corporate Group.

During the first day of the conference, 15 speakers made their presentations including world-class institutional investors such as New York State Common Retirement Fund. The head of alternative investments of the Fund, Nicholas Smirensky gave valuable insight and provided direction in global private equity investing. Successful international investors such as Texas Pacific Group focused on the opportunities, risks and rewards of globalization.

The press and many of the participants were especially interested to hear the speech by the head of Russian Federation Presidential Experts Directorate, Arkadiy Dvorkovich who discussed transparency, regulatory environments as well as creating investment climate with favorable conditions for domestic and foreign institutional investors.

During the second day of the conference, the Deputy Minister of the Russian Federation Ministry of Economic Development and Trade, Andrey Sharonov shared the anticipated plans of the Russian Government to create the largest Venture Capital Fund of Funds in the Central and Eastern Europe. Large interest of the public was raised by the speech of Martin Graham, Director of AIM, London Stock Exchange. Kristalina Georgieva (Director of Russian Operations, World Bank) also spoke and shared the World Bank View on the Future of Investments in Emerging Markets.

The inaugural EMPEC conference, which was attended by more than 220 people, was a success. Based on the positive reaction of all the attendants and the growing interest in private equity throughout the region, the EMPEC conference will continue as an annual event.