DOCSLIB.ORG

2020 Private Equity Strategic Plan

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2020 Private Equity Strategic Plan 14. Presentation by StepStone Group – 2020 Private Equity Strategic Plan 14 Water and Power Employees’ Retirement Plan (the “Plan”) Strategic and Tactical Plan February 2020 | Confidential Disclosure This document is meant only to provide a broad overview for discussion purposes. All information provided here is subject to change. This document is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, or as an offer to provide advisory or other services by StepStone Group LP, StepStone Group Real Assets LP, StepStone Group Real Estate LP, StepStone Conversus LLC, Swiss Capital Invest Holding (Dublin) Ltd, Swiss Capital Alternative Investments AG or their subsidiaries or affiliates (collectively, “StepStone”) in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this document should not be construed as financial or investment advice on any subject matter. StepStone expressly disclaims all liability in respect to actions taken based on any or all of the information in this document. This document is confidential and solely for the use of StepStone and the existing and potential clients of StepStone to whom it has been delivered, where permitted. By accepting delivery of this presentation, each recipient undertakes not to reproduce or distribute this presentation in whole or in part, nor to disclose any of its contents (except to its professional advisors), without the prior written consent of StepStone. While some information used in the presentation has been obtained from various published and unpublished sources considered to be reliable, StepStone does not guarantee its accuracy or completeness and accepts no liability for any direct or consequential losses arising from its use. Thus, all such information is subject to independent verification by prospective investors. The presentation is being made based on the understanding that each recipient has sufficient knowledge and experience to evaluate the merits and risks of investing in. private market products. All expressions of opinion are intended solely as general market commentary and do not constitute investment advice or a guarantee of returns. All expressions of opinion are as of the date of this document, are subject to change without notice and may differ from views held by other businesses of StepStone. All valuations are based on current values calculated in accordance with StepStone’s Valuation Policies and may include both realized and unrealized investments. Due to the inherent uncertainty of valuation, the stated value may differ significantly from the value that would have been used had a ready market existed for all of the portfolio investments, and the difference could be material. The long‐term value of these investments may be lesser or greater than the valuations provided. StepStone Group LP, its affiliates and employees are not in the business of providing tax, legal or accounting advice. Any tax‐related statements contained in these materials are provided for illustration purposes only and cannot be relied upon for the purpose of avoiding tax penalties. Any taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor. Prospective investors should inform themselves and take appropriate advice as to any applicable legal requirements and any applicable taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant to the subscription, purchase, holding, exchange, redemption or disposal of any investments. Each prospective investor is urged to discuss any prospective investment with its legal, tax and regulatory advisors in order to make an independent determination of the suitability and consequences of such an investment. An investment involves a number of risks and there are conflicts of interest. Please refer to the risks and conflicts disclosed herein. Each of StepStone Group LP, StepStone Group Real Assets LP, StepStone Group Real Estate LP and StepStone Conversus LLC is an investment adviser registeredwiththe Securities and Exchange Commission (“SEC”). StepStone Group Europe LLP is authorized and regulated by the Financial Conduct Authority, firm reference number 551580. Swiss Capital Invest Holding (Dublin) Ltd (“SCHIDL”) is an SEC Registered Investment Advisor and Swiss Capital Alternative Investments AG (“SCAI” and together with SCHIDL, “Swiss Cap”) is an SEC Exempt Reporting Adviser. Such registrations do not imply a certain level of skill or training and no inference to the contrary should be made. All data is as of September 30, 2019 unless otherwise noted. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ACTUAL PERFORMANCE MAY VARY. StepStone Team Michael Elio – Partner Mr. Elio is a member of the private equity team, focusing on middle‐market buyouts and secondary funds. He is also involved in various advisory and portfolio management activities. Prior to joining StepStone in 2014, Mr. Elio was a managing director at ILPA, where he led programs around research, standards and industry strategic priorities. Before that he was a partner and managing director at LP Capital Advisors where he led the firm’s Boston office and served as the lead consultant to North American and European institutional investors. Mr. Elio was the primary consultant for many of the firm’s largest clients including public and private pension plans committing more than US$5 billion annually. John Kettnich – Partner Mr. Kettnich a member of the private equity team, focusing on secondary investments. He is also involved in various portfolio management activities. Since StepStone’s inception, Mr. Kettnich has helped to build the Firm’s primary diligence and research platform, as well as its secondary investment business. He also spent time living in Beijing and London, where he focused on developing StepStone’s international business. Before joining StepStone in 2007, Mr. Kettnich was with PCG Capital Partners, the direct investment arm of Pacific Corporate Group, where he sourced and evaluated middle‐market buyout and growth equity investments. Mr. Kettnich graduated summa cum laude with a BBA from the University of San Diego and is a CFA charterholder. Jonathan True – Vice President Mr. True is a member of the private equity team, focusing on small‐market buyouts and secondary funds. Prior to joining StepStone, Mr. True was an analyst at The Carlyle Group’s AlpInvest Partners where he sourced and performed due diligence on private equity funds focusing on North American GPs. Previously, Mr. True was an investment analyst at Cornell University Investment Office where he assisted in managing the university’s endowment and sourced and conducted due diligence on prospective managers. Mr. True received his BS in financial economics from Binghamton University. He is a CFA charterholder. Confidential | 2 Executive Summary Strategic Objectives • The Plan pursues investments in private equity (“PE”) assets as part of its strategic asset allocation in order to • Increase the diversification of the Plan’s assets, • Take advantage of the ability to accept illiquidity in exchange for a premium, and • Reduce the volatility and help increase the risk‐adjusted returns of the overall Plan. • The Retirement Board seeks to invest with managers who have demonstrated the ability, or the potential, to outperform the public market benchmark plus an illiquidity risk premium, net of fees and expenses. • The Retirement Board expects that commitments to and investments in private equity assets will establish, maintain, and continually reinforce the presence as an attractive investor, and make both continuous use of and contributions to the best practices of investors in private equity. • The Retirement Board will seek investments in which the General Partner demonstrates a commitment to standards of good conduct and transparency, including compliance with all Federal, State, local, and international laws, including, but not limited to, labor, anti‐ discrimination, environmental, and health and safety laws, and will reject investments that would pose reputational risk to the Plan or bring public or regulatory scrutiny other than that which is required by law or regulation to consummate an investment transaction. Confidential | 4 Aggregate Asset Allocation The Plan has adopted a target allocation to private equity of 8.0% of the market value of the total assets ― The Retirement Fund began committing to the private markets in 2006. As of September 30, 2019, private equity represented approximately 5.5% of the Retirement Fund’s assets, excluding unfunded commitments ― The Health Fund began committing to private markets in 2008. As of September 30, 2019, private equity represented approximately 6.0% of the Health Fund’s assets, excluding unfunded commitments • Depending on allocations to each private equity sub‐sector, the rate at which the Plan progresses towards its 8.0% private equity exposure target may vary to a degree • As a relatively young program, it will take a number of years before the full target allocation is reached Confidential | 5 Strategic and Pacing Plan Overview • Strategic Plan: a long‐term investment plan designed to achieve the Plan’s investment objectives – The Plan’s staff has worked with StepStone Group (“StepStone”) to develop a pacing plan to prudently
Load more

Recommended publications
  • INVESTMENT VENDORS  the Following Is a Listing of the Investment Managers, Custodians, and Consultants That Serve the Massachusetts Public Pension Systems
    INVESTMENT VENDORS The following is a listing of the investment managers, custodians, and consultants that serve the Massachusetts public pension systems. The listing is based on information supplied by the retirement boards. RETIREMENT BOARD INVESTMENT VENDORS ADAMS • Capital Research and Management • Granite Investment Advisors Custodian: State Street Bank & Trust AMESBURY • PRIT ANDOVER • PRIT ARLINGTON • PRIT • Wilshire Associates Inc. Custodian: State Street Bank & Trust ATTLEBORO • Boston Advisors, LLC • Herndon Capital Management, LLC • PRIT Custodian: People’s United Bank • Daruma Capital Management, LLC • Invesco Core Real Estate USA, LP • Regions Timberland Consultant: Dahab Associates Inc. • Fidelity Institutional Asset Management • Invesco National Trust Company • State Street Global Advisors • Frontier Capital Management Co., LLC • Orleans Capital Management Corp. • Wells Capital Management Inc. • Hancock Natural Resource Group, Inc. BARNSTABLE COUNTY • Intercontinental Capital Management, LLC • PRIT • UBS Realty Investors, LLC BELMONT • AEW Capital Management, LP • Loomis Sayles & Company • RhumbLine Advisers Custodian: State Street Bank & Trust • Atlanta Capital • Pacific Investment Management Company, LLC • Rothschild Asset Management Inc. Consultant: New England Pension • Harbourvest Partners, LLC • PRIT • Scout Capital Management, LLC Consultants BERKSHIRE COUNTY • PRIT BEVERLY • PRIT BLUE HILLS REGIONAL • PRIT BOSTON (CITY) • 57 Stars, LLC • EnTrust Partners, LLC • Permal Asset Management, Inc. Custodian: State
    [Show full text]
  • Broken Confidences Sebastiaan Van Den Berg of Harbourvest Partners Are PE Players Losing Sleep Over Australia’S Super Fund Disclosure Rules? Page 7 Page 19
    Asia’s Private Equity News Source avcj.com February 25 2014 Volume 27 Number 07 EDITOR’S VIEWPOINT Bumper PE deal flow in 2013 flatters to deceive Page 3 NEWS Baring Asia, CalPERS, CDH, EQT, Fosun, GGV, Hopu, IDFC, IFC, INCJ, Kendall Court, Morningside, NSSF, Origo, Samena, Temasek Page 4 ANALYSIS Australia’s mid-market GPs wait patiently for a buyout rebound Page 16 INDUSTRY Q&A HESTA’s Andrew Major and QIC’s Marcus Simpson Page 11 Broken confidences Sebastiaan van den Berg of HarbourVest Partners Are PE players losing sleep over Australia’s super fund disclosure rules? Page 7 Page 19 FOCUS FOCUS Diversity in distress The collective spirit GPs adjust to evolving special situations Page 12 Crowdfunding gains traction down under Page 14 PRE-CONFERENCE ISSUE AVCJ PRIVATE EQUITY AND VENTURE CAPITAL FORUM AUSTRALIA 2014 Anything is possible if you work with the right partner Unlocking liquidity for private equity investors www.collercapital.com London, New York, Hong Kong EDITOR’S VIEWPOINT [email protected] Managing Editor Tim Burroughs (852) 3411 4909 Staff Writers Andrew Woodman (852) 3411 4852 Mirzaan Jamwal (852) 3411 4821 That was then, Winnie Liu (852) 3411 4907 Creative Director Dicky Tang Designers Catherine Chau, Edith Leung, Mansfield Hor, Tony Chow Senior Research Manager this is now Helen Lee Research Manager Alfred Lam Research Associates Herbert Yum, Isas Chu, Jason Chong, Kaho Mak Circulation Manager FROM 2006 OR THEREABOUTS, AUSTRALIA pace during the second half of 2013. A total of Sally Yip Circulation Administrator suddenly became the destination in Asia for GPs nine PE-backed offerings raised record proceeds Prudence Lau focused on leveraged buyout deals.
    [Show full text]
  • Meet Our Speakers
    MEET OUR SPEAKERS DEBRA ABRAMOVITZ Morgan Stanley Debra Abramovitz is an Executive Director of Morgan Stanley and serves as Chief Operating Officer of Morgan Stanley Expansion Capital. Debra oversees all financial, administrative, investor relations and operational activities for Morgan Stanley Expansion Capital, and its predecessor Morgan Stanley Venture Partners funds. Debra also serves as COO of Morgan Stanley Credit Partners. Debra joined Morgan Stanley’s Finance Department in 1983 and joined Morgan Stanley Private Equity in 1988, with responsibility for monitoring portfolio companies. Previously, Debra was with Ernst & Young. Debra is a graduate of American University in Paris and the Columbia Business School. JOHN ALLAN-SMITH Barclays Americas John Allan-Smith leads the US Funds team for Corporate Banking at Barclays and is responsible for coordinating the delivery of products and services from our global businesses; ranging from debt, FX solutions, cash management and trade finance, to working capital lending and liquidity structures. John joined Barclays in 2014 and has 20 years of experience in the funds sector. Prior to joining Barclays, John worked at The Royal Bank of Scotland (RBS) in London, Stockholm and New York, spending 10 years in the RBS Leveraged Finance team. Subsequently, John had responsibility for the portfolios and banking sector of the Non-Core division of RBS in the Americas. John holds an ACA qualification from the Institute of Chartered Accountants of England and Wales and is a qualified accountant. He also has a BSc (Hons) in Chemistry from The University of Nottingham. ROBERT ANDREWS Ashurst LLP Robert is a partner in the banking group at Ashurst and is one of the most experienced funds finance specialists in Europe.
    [Show full text]
  • Private Equity Spotlight September 2007 / Volume 3 - Issue 9
    Private Equity Spotlight September 2007 / Volume 3 - Issue 9 www.preqin.com Welcome to the latest edition of Private Equity Spotlight, the monthly newsletter from Preqin, providing insights into private equity performance, investors and fundraising. Private Equity Spotlight combines information from our online products Performance Analyst, Investor Intelligence & Funds in Market. Feature Article page 02 Investor Spotlight page 11 Private Equity Real Estate Still Booming but increased Know Your Investors competition is set to make fundraising conditions considerably This month we examine harder in 2008. We examine the reasons behind the industry’s how the typical make up of continued growth, with forecasts and predictions for the investors in closed funds coming year. varies with size and type. We show how effectively page 06 Performance Spotlight targeting the right investors is essential in order to raise How Good Are Your Benchmarks? Benchmarks are vital a fund as successfully and for a range of purposes, including strategic asset allocation, effi ciently as possible. Featuring information from the recently tactical investment decisions, and competitive comparisons. upgraded Investor Intelligence database. How can you be sure the benchmarks you use are as accurate as possible? Investor News page 16 Fundraising page 08 All the latest news on investors in private equity: This month’s Fundraising Spotlight examines the latest data for buyout and venture funds, and also takes an in-depth look • TRS has issued an RFP at mezzanine fundraising.
    [Show full text]
  • ILPA Releases Second Report in Diversity in Action Series
    ILPA Releases Second Report in Diversity in Action Series Diversity in Action – Sharing Our Progress Report Details the Initiative’s Growth and Insights Into Integrating DEI Into Investment Strategies 1776 Eye St. NW August 31, 2021 (Washington, D.C.) The Institutional Limited Partners Association (ILPA) today released the Suite 525 second report in its Diversity in Action – Sharing Our Progress series. The report series is an extension of ILPA’s Washington, DC Diversity in Action initiative and aims to provide actionable recommendations on steps that can be taken to 20006 improve diversity, equity and inclusion in private markets. “The industry continues to respond positively to the Diversity in Action Initiative with new signatories joining every week,” said Steve Nelson, CEO of ILPA. “The Initiative now claims 180 signatories who have all been incredibly active in conversations with one another and have acted as tremendous partners to ILPA on our related work, having meaningfully contributed to our updated ILPA Diversity Metrics Template.” The Diversity in Action – Sharing Our Progress report series tracks the evolution of Initiative signatories by geography, strategy and fund size as well as progress on adoption of all the actions within the Framework. As of August 2021, the Initiative’s geographic reach is increasing, now with 38 signatories outside North America, a 52% increase in this cohort since April. The latest report focuses on how signatories are integrating diversity, equity and inclusion into investment strategies including
    [Show full text]
  • Board of Retirement Fresno County Employees’ Retirement Association
    BOARD OF RETIREMENT FRESNO COUNTY EMPLOYEES’ RETIREMENT ASSOCIATION June 3, 2009 Trustees Present: Alan Cade, Jr. Michael Cardenas Nick Cornacchia Eulalio Gomez Steven J. Jolly Phil Larson John Souza Trustees Absent: Vicki Crow James E. Hackett Others Present: Ronald S. Frye, Alternate Trustee Sandra Brock, FCERA Member Michael Cunningham, FCERA Member Jeffrey MacLean, Wurts & Associates Scott Connors, Landmark Partners Nick Harris, Lexington Partners Tom Newby, Lexington Partners Mark Romano, Pacific Investment Management Company Dan Ivascyn, Pacific Investment Management Company Jeffrey Rieger, Reed Smith via tele-conference Carol Sheela, Retirement Benefits Manager Conor Hinds, Supervising Accountant Thanaphat “Pat” Srisukwatana, Systems & Procedures Analyst Susan Coberly, Senior Deputy County Counsel Roberto L. Peña, Retirement Administrator Becky Van Wyk, Assistant Retirement Administrator Elizabeth Avalos, Administrative Secretary 1. Call to Order Vice Chair Gomez called the meeting to order at 8:41 AM. 2. Pledge of Allegiance Recited. 3. Public Presentations Sandra Brock, FCERA Member, raised concerns regarding the COLA UAAL underpayments process as it relates to service credit purchases and the Board’s prior decision to recover the underpayments. Ms. Brock requested that the Board reconsider its previous decision to collect underpayments from affected members. 060309 Regular Meeting Minutes 2 Able Flores, FCERA Member, raised concerns that the FCERA staff has been unwilling to address issues related to service credit purchases and requested that the issues be addressed. The Board directed Mr. Flores to contact Carol Sheela, Retirement Benefits Supervisor, for assistance. Consent Agenda/Opportunity for Public Comment A motion was made by Trustee Larson, seconded by Trustee Souza, to Approve Consent Agenda Items 4-16 as presented.
    [Show full text]
  • Years in Private Equity a Timeline
    Private-equity political donations in Conn. and N.Y. state attract criticism. MAR GP Investimentos raises FEB Calpers invests $175 million Publicly traded VC firms CMGI and for stake in Carlyle Group. MAR Accel Partners build its $800 million for what at the time Internet Capital Group emerge. Years in Private Equity was the largest Latin American fund. own homepage on the internet. 1997 A string of new firms form, AUG Canada Pension 1993 Plan Investment Board JAN Madison MAY Goldman Sachs including Audax Group, New A Timeline Dearborn Partners makes its first private- closes first fund of funds Mountain Capital and Silver Lake. equity commitments. completes spinoff with $900 million. 2001 FEB Bain Capital hits from First Chicago the market seeking $250 Venture Capital. SEPT David Retik, co-founder 25AUG Landmark Partners million for its third fund. Total Fundraising (then Landmark Ventures) $134.24 billion of Alta Communications, and across 630 funds Chris Mello, an associate, both agrees to buy a 21-fund MAR Florida SBA crafts 1995 Total Fundraising 1999 die aboard American Airlines portfolio from Harvard partnership with newly Management and sets out $18.02 billion Co-investment funds to Flight 11 in terrorist attack on across 162 funds formed Liberty Partners to DEC Forstmann the World Trade Center. to raise $100 million to invest directly in companies. invest alongside core funds fund the deal and others. start to emerge. Little agrees to invest $1 AUG American Express billion in stock of Total Fundraising agrees to sell its entire Total Fundraising OCT About 30 institutional Total Fundraising $71.40 billion Glut of $1 billion funds in telecom company $119.44 billion investors form the Institutional $200 million private-equity $33.97 billion across 381 funds Europe concerns investors.
    [Show full text]
  • Private Equity Analyst
    PRIVATE EQUITY ANALYST NOVEMBER 2020 Women to Private Equity’s Top Female Talent of Today and Tomorrow p. 7 10 VCs Grooming Game-Changing Startups p. 13 Watch LP Cycles Ad HFA+PEA-Ltr DR080420.pdf 1 8/4/20 5:43 PM Private equity investing has its cycles. Work with a secondary manager who’s C experienced them all. M Y CM MY As leaders of the secondary market, the Lexington Partners team CY draws on more than 400 years of private equity experience. CMY Through all types of business cycles, we have completed over K 500 secondary transactions, acquiring more than 3,000 interests managed by over 750 sponsors with a total value in excess of $53 billion. Our team has excelled at providing customized alternative investment solutions to banks, financial institutions, pension funds, sovereign wealth funds, endowments, family offices, and other fiduciaries seeking to reposition their private investment portfolios. If you have an interest in the secondary market, our experience is second to none. To make an inquiry, please send an email to [email protected] or call us at one of our offices. Innovative Directions in Alternative Investing New York • Boston • Menlo Park • London • Hong Kong • Santiago • Luxembourg www.lexingtonpartners.com Includes information regarding six funds managed by Lexington’s predecessor formed during the period 1990 to 1995. This information is provided for informational purposes only and is not an offer to sell or solicitation of offers to purchase any security. Private Equity Analyst November 2020 contents Volume XXX, Issue 11 Fund News u The Roundup Comment Clayton Dubilier Collects About $14B for Latest Buyout Fund 26 H.I.G.
    [Show full text]
  • Group Led by Lexington Partners to Acquire Portion of Jpmorgan Chase's Interests in One Equity Partners One Equity Partners to Become Independent from Jpmorgan Chase
    News release: IMMEDIATE RELEASE Group Led by Lexington Partners to Acquire Portion of JPMorgan Chase's Interests in One Equity Partners One Equity Partners to become independent from JPMorgan Chase New York, August 11, 2014 – Lexington Partners (“Lexington”) together with AlpInvest Partners (“AlpInvest”) announced today that they have entered into a definitive agreement to acquire JPMorgan Chase’s interests in approximately 50% of the portfolio companies currently held by One Equity Partners (“OEP”), JPMorgan Chase’s principal private equity unit. Terms of the transaction, which is expected to close by year-end, were not disclosed. The OEP professionals will form a new private equity investment advisory firm, OEP Capital Advisors, L.P. (“OEPCA”), and become independent from JPMorgan Chase once the sale is completed. OEPCA will manage the portfolio being sold by JPMorgan Chase, as well as the investments being retained by JPMorgan Chase. “Lexington is pleased to partner with One Equity Partners to acquire a significant portion of JPMorgan Chase's interests, and to support the future investment activities of the OEP team,” said Brent Nicklas, Managing Partner of Lexington Partners. "We view this as a great opportunity to partner with one of the industry’s leading private equity firms,” said Tjarko Hektor, Managing Director of AlpInvest Partners. “We look forward to delivering great long-term value to these two leading alternative investment management firms,” said Richard M. Cashin, Chairman and Chief Executive Officer of One Equity Partners. “We also thank JPMorgan Chase for their partnership and support of many years, enabling us to build the business we have today." The transaction is not expected to have a material impact on JPMorgan Chase’s earnings.
    [Show full text]
  • Christopher C. Robinson
    Contact Christopher C. Robinson Partner New York +1.212.969.3676 [email protected] Christopher C. Robinson is a partner in the Private Funds Group and member of the Corporate Department. He primarily focuses his practice on representing buyers and sellers, as well as market intermediaries, in connection with complex secondary transactions, including traditional sales and purchases of fund interests, secondary direct transactions, captive fund spin-out arrangements, fund recapitalizations and restructurings and “stapled” secondary transactions. In addition, he regularly represents sponsors of, and institutional investors in, private investment funds, including buyout, energy, credit, mezzanine, healthcare, real estate, venture capital, special situation and secondary funds, as well as separate and other managed accounts. Christopher has significant experience with a diverse group of private investment firms and investors, and representative current and past clients include 50 South Capital, Audax Group, Blackstone (Strategic Partners), FlowStone Partners, General Motors Investment Management, Hollyport Capital, Landmark Partners, Lexington Partners, Method Advisors, OMERS Private Equity, OPTrust, Partners Group, Platinum Equity, Prudential Insurance Company of America, Quilvest Private Equity, RLJ Equity Partners, Siris Capital, Solace Capital Partners, Soros Fund Management, Starwood Capital Group and Vesey Street Capital Partners, among Proskauer.com others. Prior to joining Proskauer, Christopher was a corporate partner at Kirkland
    [Show full text]
  • Diversity in Action Initiative
    DIVERSI TY IN ACTION INITIATIVE JULY 202 1 Overview Overview ILPA launched the Diversity in Action initiative as a means for demonstrating the industry’s collective commitment to advancing diversity, equity and inclusion (DEI), by identifying both the breadth of support for DEI among both LPs and GPs as well as calling out the specific actions being undertaken and progress made over time. The Initiative focuses on a foundational set of actions that LP and GP organizations are taking to advance diversity and inclusion, both internally and within the industry more broadly. The framework consists of two parts – four essential criteria and a set of nine optional criteria that span a broader range of possible actions, addressing talent management, investment management and industry engagement. All of the actions prioritized within the Diversity in Action framework are drawn from ILPA’s D&I Roadmap, a clearinghouse of best practices and resources for GPs and LPs to consider at each stage of the development and implementation of their own DEI programs. The objectives of the Initiative are several: • To draw attention to the good work that LPs and GPs are undertaking now, and to provide a platform for assessing our collective progress around a targeted set of meaningful actions • To motivate more market participants to engage in the journey towards becoming more diverse and inclusive • To build momentum around the adoption of specific actions that advance DEI over time • To organize and regularly convene a community of committed LPs and GPs and
    [Show full text]
  • Guide to Secondary Buyers & Intermediaries
    GUIDE TO SECONDARY BUYERS & PLACEMENT AGENTS 2017 Guide to Secondary Buyers & Intermediaries FEATURES OTHER INDICES Secondary Buyers Survey 3 Secondary Firms, By Type of Investments Desired 48 Guide to Secondary Buyers 5 Secondary Firms, By Geographic Preference 49 Guide to Secondary Intermediaries 43 Secondary Firms, By Preferred Age of Fund Investments 50 Secondary Guide Index 46 Secondary Intermediaries Index 47 SECONDARY BUYERS Guide To Secondary Buyers & Intermediaries 2017 BUYOUTS | VCJ | 3 GUIDE TO SECONDARY BUYERS 17CAPITAL 747 CAPITAL SCOPE OF OPERATIONS MAIN OFFICE MAIN OFFICE Year group began doing secondary deals: 1987 Number of employees working on secondary deals: 15 32 Grosvenor Gardens 880 Third Avenue Does your firm manage funds of funds? Yes London 17th floor Preferred secondary investment range: SW1W 0DH New York, NY 10022 • Minimum (US$millions): 1 UK USA • Maximum (US$millions): 80 17capital.com www.747capital.com +44 (0) 20 7493 2462 212-747-7474 DESCRIPTION OF SERVICES +44 (0) 20 7529 1908 Abbott was founded in 1986, with an objective of PERSONNEL providing long-term continuity and accountability PERSONNEL Gijs van Thiel to private equity portfolio management. Since its Pierre-Antoine de Selancy Managing Partner founding, the firm has focused solely on private Managing Partner [email protected] equity investment and management, and builds [email protected] diversified portfolios of primary and secondary Joshua Sobeck private equity investments across buyouts, growth Augustin Duhamel Partner equity, venture capital, and special situations Managing Partner [email protected] funds. Historically, Abbott had included secondary [email protected] Marc der Kinderen investments in its diversified portfolios of private Robert de Corainville Managing Partner equity fund interests.
    [Show full text]