Financial Technology Sector Summary
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Inprs Cafr Fy20 Working Version
COMPREHENSIVE ANNUAL FINANCIAL REPORREPORTT 2020 For the FiscalFiscal YearYear EndedEnded JuneJune 30,30, 20202019 INPRS is a component unit and a pension trust fund of the State of Indiana. The Indiana Public Retirement System is a component Prepared through the joint efforts of INPRS’s team members. unit and a pension trust fund of the State of Indiana. Available online at www.in.gov/inprs COMPREHENSIVE ANNUAL FINANCIAL REPORT 2020 For the Fiscal Year Ended June 30, 2020 INPRS is a component unit and a pension trust fund of the State of Indiana. INPRS is a trust and an independent body corporate and politic. The system is not a department or agency of the state, but is an independent instrumentality exercising essential governmental functions (IC 5-10.5-2-3). FUNDS MANAGED BY INPRS ABBREVIATIONS USED Defined Benefit DB Fund 1. Public Employees’ Defined Benefit Account PERF DB 2. Teachers’ Pre-1996 Defined Benefit Account TRF Pre-’96 DB 3. Teachers’ 1996 Defined Benefit Account TRF ’96 DB 4. 1977 Police Officers’ and Firefighters’ Retirement Fund ’77 Fund 5. Judges’ Retirement System JRS 6. Excise, Gaming and Conservation Officers’ Retirement Fund EG&C 7. Prosecuting Attorneys’ Retirement Fund PARF 8. Legislators’ Defined Benefit Fund LE DB Defined Contribution DC Fund 9. Public Employees’ Defined Contribution Account PERF DC 10. My Choice: Retirement Savings Plan for Public Employees PERF MC DC 11. Teachers’ Defined Contribution Account TRF DC 12. My Choice: Retirement Savings Plan for Teachers TRF MC DC 13. Legislators’ Defined Contribution Fund LE DC Other Postemployement Benefit OPEB Fund 14. -
Vol. 84 Wednesday, No. 171 September 4, 2019 Pages 46419
Vol. 84 Wednesday, No. 171 September 4, 2019 Pages 46419–46652 OFFICE OF THE FEDERAL REGISTER VerDate Sep 11 2014 20:59 Sep 03, 2019 Jkt 247001 PO 00000 Frm 00001 Fmt 4710 Sfmt 4710 E:\FR\FM\04SEWS.LOC 04SEWS jbell on DSK3GLQ082PROD with FRONTWS II Federal Register / Vol. 84, No. 171 / Wednesday, September 4, 2019 The FEDERAL REGISTER (ISSN 0097–6326) is published daily, SUBSCRIPTIONS AND COPIES Monday through Friday, except official holidays, by the Office PUBLIC of the Federal Register, National Archives and Records Administration, under the Federal Register Act (44 U.S.C. Ch. 15) Subscriptions: and the regulations of the Administrative Committee of the Federal Paper or fiche 202–512–1800 Register (1 CFR Ch. I). The Superintendent of Documents, U.S. Assistance with public subscriptions 202–512–1806 Government Publishing Office, is the exclusive distributor of the official edition. Periodicals postage is paid at Washington, DC. General online information 202–512–1530; 1–888–293–6498 Single copies/back copies: The FEDERAL REGISTER provides a uniform system for making available to the public regulations and legal notices issued by Paper or fiche 202–512–1800 Federal agencies. These include Presidential proclamations and Assistance with public single copies 1–866–512–1800 Executive Orders, Federal agency documents having general (Toll-Free) applicability and legal effect, documents required to be published FEDERAL AGENCIES by act of Congress, and other Federal agency documents of public Subscriptions: interest. Assistance with Federal agency subscriptions: Documents are on file for public inspection in the Office of the Federal Register the day before they are published, unless the Email [email protected] issuing agency requests earlier filing. -
European Technology, Media & Telecommunications Monitor
European Technology, Media & Telecommunications Monitor Market and Industry Update Fourth Quarter 2012 Piper Jaffray European TMT Team: Eric Sanschagrin Managing Director Head of European TMT [email protected] +44 (0) 207 796 8420 Stefan Zinzen Principal [email protected] +44 (0) 207 796 8418 Jessica Harneyford Associate [email protected] +44 (0) 207 796 8416 Peter Shin Analyst [email protected] +44 (0) 207 796 8444 Julie Wright Executive Assistant [email protected] +44 (0) 207 796 8427 TECHNOLOGY, MEDIA &TELECOMMUNICATIONS MONITOR Market and Industry Update Selected Piper Jaffray 2012 TMT Transactions 2 This report may not be reproduced, redistributed or passed to any other person or published in whole or in part for any purpose without the written consent of Piper Jaffray. © 2013 Piper Jaffray Ltd. All rights reserved. TECHNOLOGY, MEDIA &TELECOMMUNICATIONS MONITOR Market and Industry Update Contents 1. Internet and Digital Media A. Trading Update B. Transaction Update C. Public Market Trading Multiples 2. Software and IT Services A. Trading Update B. Transaction Update C. Public Market Trading Multiples 3. Communications Technology And Hardware A. Trading Update B. Transaction Update C. Public Market Trading Multiples 4. Equity Capital Markets and M&A Update 3 This report may not be reproduced, redistributed or passed to any other person or published in whole or in part for any purpose without the written consent of Piper Jaffray. © 2013 Piper Jaffray Ltd. All rights reserved. TECHNOLOGY, MEDIA &TELECOMMUNICATIONS -
FEDERAL TRADE COMMISSION Granting of Request for Early
This document is scheduled to be published in the Federal Register on 08/10/2016 and available online at http://federalregister.gov/a/2016-18915, and on FDsys.gov [BILLING CODE: 6750-01S] FEDERAL TRADE COMMISSION Granting of Request for Early Termination of the Waiting Period Under the Premerger Notification Rules Section 7A of the Clayton Act, 15 U.S.C.§ 18a, as added by Title II of the Hart-Scott- Rodino Antitrust Improvements Act of 1976, requires persons contemplating certain mergers or acquisitions to give the Federal Trade Commission and the Assistant Attorney General advance notice and to wait designated periods before consummation of such plans. Section 7A(b)(2) of the Act permits the agencies, in individual cases, to terminate this waiting period prior to its expiration and requires that notice of this action be published in the Federal Register. The following transactions were granted early termination -- on the dates indicated -- of the waiting period provided by law and the premerger notification rules. The listing for each transaction includes the transaction number and the parties to the transaction. The grants were made by the Federal Trade Commission and the Assistant Attorney General for the Antitrust Division of the Department of Justice. Neither agency intends to take any action with respect to these proposed acquisitions during the applicable waiting period. 1 Early Terminations Granted April 1, 2016 thru April 30, 2016 04/01/2016 20160878 G MBK Partners Ltd. ; Doosan Infracore Co., Ltd. ; MBK Partners Ltd. 20160887 G Nordic Capital VIII Beta, L.P. ; Genstar Capital Partners VI, L.P. -
DENVER CAPITAL MATRIX Funding Sources for Entrepreneurs and Small Business
DENVER CAPITAL MATRIX Funding sources for entrepreneurs and small business. Introduction The Denver Office of Economic Development is pleased to release this fifth annual edition of the Denver Capital Matrix. This publication is designed as a tool to assist business owners and entrepreneurs with discovering the myriad of capital sources in and around the Mile High City. As a strategic initiative of the Denver Office of Economic Development’s JumpStart strategic plan, the Denver Capital Matrix provides a comprehensive directory of financing Definitions sources, from traditional bank lending, to venture capital firms, private Venture Capital – Venture capital is capital provided by investors to small businesses and start-up firms that demonstrate possible high- equity firms, angel investors, mezzanine sources and more. growth opportunities. Venture capital investments have a potential for considerable loss or profit and are generally designated for new and Small businesses provide the greatest opportunity for job creation speculative enterprises that seek to generate a return through a potential today. Yet, a lack of needed financing often prevents businesses from initial public offering or sale of the company. implementing expansion plans and adding payroll. Through this updated resource, we’re striving to help connect businesses to start-up Angel Investor – An angel investor is a high net worth individual active in and expansion capital so that they can thrive in Denver. venture financing, typically participating at an early stage of growth. Private Equity – Private equity is an individual or consortium of investors and funds that make investments directly into private companies or initiate buyouts of public companies. Private equity is ownership in private companies that is not listed or traded on public exchanges. -
Annual Report 2014 Contents Castle Private Equity AG 2014
Annual Report 2014 Contents Castle Private Equity AG 2014 Contents 03 Castle Private Equity in 2014 04 Chairman’s statement 06 Investment manager’s report 14 Report of the statutory auditor on the consolidated financial statements 16 Consolidated financial statements 64 Report of the statutory auditor on the company financial statements 66 Company financial statements 74 Report of the statutory auditor on the remuneration report 76 Remuneration report 79 Corporate governance 90 Investors’ information Further information Periodic updates of elements of this annual report and supplementary information can be retrieved from the company’s website www.castlepe.com Publication date This report was released for publication on 4 March 2015. The subsequent event notes in the financial statements have been updated to 18 February 2015. Amounts in this report are stated in USD thousands (TUSD) unless otherwise stated. This document is for information only and is not an offer to sell or an invitation to invest. In particular, it does not constitute an offer or solicitation in any jurisdiction where it is unlawful or where the person making the offer or solicitation is not qualified to do so or the recipient may not lawfully receive any such offer or solicitation. It is the responsibility of any person in possession of this document to inform themselves of, and to observe, all applicable laws and regulations of relevant jurisdictions. All statements contained herein that are not historical facts including, but not limited to, statements regarding anticipated activity are forward looking in nature and involve a number of risks and uncertainties. Actual results may differ materially. -
Genstar Capital Partners X, LP
Investment Summary Genstar Capital Partners X, L.P. A North American Buyout Fund January 2021 Trade Secret and Confidential Trade Secret and Confidential EXECUTIVE SUMMARY OVERALL RATING Genstar Capital Partners LLC (“Genstar” or the “Firm”) has demonstrated an ability to build substantial value for limited partners through its in-depth sector knowledge, focus on talent management, M&A value creation strategy, and 29-member Strategic Advisory Board (“SAB”). Led by a seasoned and long tenured group of managing partners, Genstar has delivered strong performance across its four recent funds. Category Rating Business ✓ Staff ✓ Process ✓ Risk ✓ Operations ✓ Performance ✓ Terms &Conditions ✓ Aon has reviewed and performed an in-depth analysis of the above categories which includes, but is not limited to: ▪Retention of Limited Partners ▪Complementary Skill Sets ▪Market Opportunity ▪Institutional Investor Representation ▪Alignment of Interest ▪Stability of Strategy ▪Management Company Ownership ▪Turnover/Tenure ▪Investment Restrictions ▪Reporting Transparency ▪Depth of Team Resources ▪Approval process ▪Back-office Resources ▪Management Team Network ▪Ability to handle troubled deals ▪Firm Leadership ▪Exit strategy ▪Size of Fund ▪Consistency / Volatility of Returns ▪Management Fee and Offsets ▪Ability to Create Value in Deals ▪Realization Record ▪Priority of Distributions ▪Quality of Source ▪Unrealized Portfolio Performance ▪Clawback ▪Valuation Discipline ▪Write-Offs ▪Investment Period ▪Sole or Consortium Deals ▪Transaction Experience in Strategy -
Financial Technology Sector Review | Q4 2019 Financial Technology Sector Review | Q4 2019
FINANCIAL TECHNOLOGY SECTOR REVIEW | Q4 2019 FINANCIAL TECHNOLOGY SECTOR REVIEW | Q4 2019 TECHNOLOGY, MEDIA & TELECOM HARRIS WILLIAMS (“HW”) AS A FIRM (“TMT”) GROUP • Founded in 1991 • 35+ professionals across Boston, San Francisco, and London Managing Director • 370+ professionals across eight offices globally • 42 closed transactions in the last 24 months [email protected] Office: (617) 654-2133 • 170+ closed transactions in the last 24 months • 21st record year in 2018 • Compliance Software • Architecture, Engineering, and • CRM and Member Management Construction Director • 10 industry groups Software • eCommerce and Retail Software [email protected] • Data and Analytics • Education Technology Office: +44 (0) 20 7518 8909 • Enterprise Software • Energy Technology • Human Capital Management • Facilities and Real Estate • Infrastructure and Security Technology Director Software • Financial Technology [email protected] Office: (617) 654-2113 2017 • IT and Tech Enabled Services • Government Technology 2017 • Managed Services, Hosting, Data • Healthcare IT Center Solutions • Industrial and Supply Chain • Online Marketing, Data, and Software Vice President [email protected] Research Office: (617) 654-2126 OBSERVATIONS ON KEY FINTECH TRENDS • The financial technology market continues to attract strong interest from financial investors and strategic acquirers alike, with more than 550 M&A transactions completed in 2019 globally Managing Director • Consolidation persists as the sector matures and is expected -
Private Equity Alert
Private Equity Alert February 2008 Ignorance of the FCPA is No Excuse Weil News By Chip Roh ([email protected]), Joe Tortorici ([email protected]) n Weil Gotshal won Private Equity and Joseph Johnson ([email protected]) Team of the Year at the 2008 Legal Business Awards for the firm’s Private equity sponsors and hedge funds are increasingly investing in emerging involvement in advising Terra Firma markets, including through dedicated investment funds. The risk of corrupt on the $6.4 billion take private bid of EMI Group plc payments is higher in those markets than in most developed markets and U.S. investors are subject to the U.S. Foreign Corrupt Practices Act (FCPA) in connection n Chambers recommended seven of with those investments. Recently, the U.S. government has become more aggressive our European private equity partners in its 2008 Chambers in enforcing the FCPA. In addition, as evidenced by the ongoing Siemens inquiry, Europe directory: Gerhard Schmidt European governments have also become more aggressive in pursuing FCPA-style in Frankfurt, Marco Compagnoni corruption investigations. Private equity sponsors and hedge funds investing and Mark Soundy in London, David outside the U.S., especially those that invest in emerging markets, should be Aknin, Frederic Cazals and Emmanuelle Henry in Paris and proactive in ensuring that they and their representatives take appropriate actions David Dederick in Central & in connection with those investments to avoid or reduce the risk of civil or even Eastern Europe criminal liability under the FCPA. n Weil Gotshal advised Thomas H Lee Partners in connection with The FCPA the acquisition of approximately The FCPA prohibits bribery of foreign government officials, candidates for office 63% of the equity securities of MoneyGram International, Inc. -
September 30, 2019 Total Investment Name Investment Strategy Vintage Committed Paid-In Capital (2) Valuation Net IRR Distributions ABRY Partners VII, L.P
Statement of Investments (1) As of September 30, 2019 Total Investment Name Investment Strategy Vintage Committed Paid-In Capital (2) Valuation Net IRR Distributions ABRY Partners VII, L.P. Corporate Finance/Buyout 2011$ 3,500,000 $ 3,716,188 $ 1,157,893 ABRY Senior Equity III, L.P. Mezzanine 2010 5,000,000 4,631,511 198,697 ABRY Senior Equity IV, L.P. Mezzanine 2012 6,503,582 6,570,994 4,461,841 ABS Capital Partners VI, L.P. Growth Equity 2009 4,000,000 3,928,337 333,664 ABS Capital Partners VII, L.P. Growth Equity 2012 10,000,000 10,350,070 10,733,227 Advent International GPE IX, L.P. Corporate Finance/Buyout 2019 50,000,000 - (307,005) Advent International GPE V-B, L.P. Corporate Finance/Buyout 2012 2,791,589 2,583,570 151,661 Advent International GPE V-D, L.P. Corporate Finance/Buyout 2005 3,173,078 3,038,405 157,684 Advent International GPE VI-A, L.P. Corporate Finance/Buyout 2008 9,500,000 9,500,000 1,464,377 Advent International GPE VII-B, L.P. Corporate Finance/Buyout 2012 30,000,000 28,200,000 23,931,202 Advent International GPE VIII-B, L.P. Corporate Finance/Buyout 2016 36,000,000 31,266,000 39,050,954 Affinity Asia Pacific Fund V, L.P. Corporate Finance/Buyout 2018 40,000,000 7,934,098 7,297,604 Alta Partners VIII, L.P. Venture Capital 2006 3,000,000 3,000,000 3,672,700 American Securities Partners VII, L.P. -
FT PARTNERS RESEARCH 2 Fintech Meets Alternative Investments
FT PARTNERS FINTECH INDUSTRY RESEARCH Alternative Investments FinTech Meets Alternative Investments Innovation in a Burgeoning Asset Class March 2020 DRAFT ©2020 FinTech Meets Alternative Investments Alternative Investments FT Partners | Focused Exclusively on FinTech FT Partners’ Advisory Capabilities FT Partners’ FinTech Industry Research Private Capital Debt & Raising Equity Sell-Side / In-Depth Industry Capital Buy-Side Markets M&A Research Reports Advisory Capital Strategic Structuring / Consortium Efficiency Proprietary FinTech Building Advisory FT Services FINTECH Infographics Partners RESEARCH & Board of INSIGHTS Anti-Raid Advisory Directors / Advisory / Monthly FinTech Special Shareholder Committee Rights Plans Market Analysis Advisory Sell-Side Valuations / LBO Fairness FinTech M&A / Financing Advisory Opinion for M&A Restructuring Transaction Profiles and Divestitures Named Silicon Valley’s #1 FinTech Banker Ranked #1 Most Influential Person in all of Numerous Awards for Transaction (2016) and ranked #2 Overall by The FinTech in Institutional Investors “FinTech Excellence including Information Finance 40” “Deal of the Decade” • Financial Technology Partners ("FT Partners") was founded in 2001 and is the only investment banking firm focused exclusively on FinTech • FT Partners regularly publishes research highlighting the most important transactions, trends and insights impacting the global Financial Technology landscape. Our unique insight into FinTech is a direct result of executing hundreds of transactions in the sector combined with over 18 years of exclusive focus on Financial Technology FT PARTNERS RESEARCH 2 FinTech Meets Alternative Investments I. Executive Summary 5 II. Industry Overview and The Rise of Alternative Investments 8 i. An Introduction to Alternative Investments 9 ii. Trends Within the Alternative Investment Industry 23 III. Executive Interviews 53 IV. -
Indiana Public Retirement System Investment Section
Indiana Public Retirement System 2015 COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Fiscal Year Ended June 30, 2015 Investment Section 110 Report on Investment Activities 134 Ten-Year Time-Weighted Investment 113 Report from the Chief Investment Rates of Return Officer 135 Statistical Performance 118 Outline of Investment Policies Investment Results – 120 Investment Summary Annuity Savings Accounts Investment Results – and Legislators’ Defined Consolidated Contribution Plan Defined Benefit Assets 136 Assets by Investment Option 121 Retirement Plans in Consolidated 137 Historical Annualized Rate of Defined Benefit Assets Return by Investment Option 122 Asset Allocation Summary: June 30, vs. Benchmark Returns 2015 Actual vs. June 30, 2014 Actual 138 Annuity Savings Accounts Ten-Year 123 Asset Allocation Summary: June 30, Guaranteed Fund Interest 2015 Actual vs. Target Crediting Rates 124 Annualized Time-Weighted Rate 139 List of Largest Assets Held of Return by Asset Class vs. 140 Schedule of Fees and Commissions Benchmark Returns 141 Schedule of Investment 125 Asset Class Summaries Management Fees 133 Historical Comparative Investment 143 Investment Professionals Results Indiana Public Retirement System Report on Investment Activities August 18, 2015 Board of Trustees Indiana Public Retirement System One North Capitol Avenue Indianapolis, IN 46204 Dear Trustees: Verus Advisory is pleased to provide the Board of Trustees of the Indiana Public Retirement System (“INPRS”) with an overview of the market environment for the fiscal year ended June 30, 2015 as well as an update on performance and a summary of Portfolio changes. Investment Landscape Sluggish global growth, continued easy monetary policies and sharp declines in commodity markets created a challenging climate for most well diversified investment portfolios, INPRS being no exception.