A company can improve its profitability while the fund that owns it struggles to sell at the price it wants. For the manager, waiting can give the business time to grow. For investors, it means their capital stays tied up. With borrowing more expensive and exits taking longer, private equity managers face a sharper question: how much additional value can that extra time deliver?
The question will be at the centre of a discussion at the 12th International Funds Summit, on Monday, 16 November 2026, at Parklane Resort & Spa in Limassol. Shirley Choo of Convergence Partners, Steven Dunne of Frog Capital and Angele Paris of CoreData Research will bring three perspectives on how value is created and realised in private markets.
Shirley Choo, Investment Director and Investment Committee Member at Convergence Partners, brings experience investing in and developing European healthcare and health technology businesses. Her work spans neurology, mental health, preventive care and longevity. In those sectors, the case for a longer hold can turn on a practical question: what will it take for a technology to move from pilot to wider adoption, and which milestones justify committing more time and capital?
Steven Dunne, Senior Partner at Frog Capital, brings experience from inside portfolio companies. He has served as both CFO and COO and led the creation of Frog Capital’s Operating Partner Programme. His background illustrates the work that can make a longer hold worthwhile: improving financial planning and working with management teams to strengthen business performance when borrowing costs leave less room for error.
Angele Paris, Senior Research Consultant at CoreData Research, brings the perspective of those committing the capital. She designs research that helps financial institutions understand different types of investors. That perspective matters when exits slow: the timing of distributions can affect how much investors are able to commit to new funds.
Two measures capture the trade-off. The internal rate of return (IRR) reflects the timing of cash flows and, for unrealised investments, their remaining valuation. Distributions to paid-in capital (DPI) shows how much the fund has already distributed relative to what investors have paid in. Selling today can bring forward a distribution. Holding out may yield a higher price later, with the cost and risk that come with waiting.
The panel will examine the options available to managers, including a sale to a strategic buyer or another fund, a public listing, a transfer to a continuation vehicle, or borrowing against the portfolio’s net asset value (NAV). The agenda also covers co-investments and opportunities in technology, healthcare, the energy transition and infrastructure. For delegates, the comparison is practical: which options provide liquidity, which leave room for further growth, and who bears the risk in the meantime?
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CONFERENCE INFORMATION
Organisers: Cyprus Investment Funds Association (CIFA) and Invest Cyprus
Coordinator: IMH
Gold Sponsors: Athlos Capital, Bank of Cyprus, Eurobank Cyprus, KPMG Cyprus, PwC Cyprus
Silver Sponsors: Alter Domus, Alpha Bank
Sponsor: IMR
Supporters: Association of Cyprus Banks (ACB), Association of Chartered Certified Accountants (ACCA), Association of Certified Fraud Examiners (ACFE), Institute of Chartered Accountants in England and Wales (ICAEW), Cyprus Bar Association, CFA Society Cyprus, Chartered Institute for Securities & Investment (CISI), Cyprus Fiduciary Association (CYFA), The Institute of Certified Public Accountants of Cyprus (ICPAC), The Institute of Internal Auditors Cyprus
Media Sponsors: IN Business magazine, CBN portal, GOLD magazine
For more information contact ΙΜΗ:
Tel: 77777741
Email: events@imhbusiness.com
Website: www.cyprusfundssummit.com
