Private Equity at KPMG

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Knowledge sharing and thought leadership We believe that providing new information and perspective on the private equity industry and keeping our clients abreast of accounting and regulatory developments is a vital part PRIVATE EQUITY of our role in serving our clients. KPMG’s prominent role in the private equity marketplace places us in the position of being able to interpret and respond to emerging issues. SELECT THOUGHT LEADERSHIP PUBLICATIONS Private Equity at KPMG

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2014 M&A Outlook Survey Working with private equity Vantage: The global view from portfolio companies Transactions & Restructuring

Marc Moyers National Sector Leader, Private Equity New York, NY T: 212-954-1952 E: [email protected]

© 2015 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Printed in the U.S.A. NDPPS 323528 The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International. Private Equity practice at KPMG KPMG LLP’s (KPMG) Private Equity practice is a fully integrated, cross functional team focused on serving private equity firms and their portfolio companies wherever they may be located. Our private equity practice brings a fresh approach to the issues that challenge our clients through the entire private equity life cycle; from fundraising to realizing value.

Our Private Equity practice is comprised of over 1,000 experienced funds, invest in new industries, or begin working in new countries, professionals solely focused on private equity. Our team has a deep KPMG has the resources to support growth in all those directions understanding of the private equity industry and knows that the with the commitment to provide the marketplace with exceptional challenges and opportunities the private equity marketplace face service. are unique. The private equity marketplace expects high-quality services and The depth of KPMG’s Private Equity practice’s experience and a high level of accountability. In order to achieve this, KPMG’s global network of professionals allows us to be a meaningful Private Equity practice assigns a single point of contact to bring value-added partner to our fund clients and their portfolios on an together the knowledge, leadership, and experience of the firm’s array of service capabilities. We provide a distinctive and broad combined services from across our global network. range of services at the fund/management company level as Choosing KPMG’s Private Equity practice also means choosing well as at the portfolio company level from traditional audit to tax, one of the leading networks of finance and transaction transaction services, valuations, restructuring, corporate finance, professionals who bring specific industry knowledge and or forensic services. As private equity companies raise new Representative private equity clients experience to each engagement. KPMG serves a majority of the top 100 global private equity firms and their portfolio Service throughout companies. Below is a representative client list: AUM less than $1 billion AUM between $1 and $5 billion The private equity industry has become a significant alternative to capital market investments. The emphasis on private equity firms today is value enhancement, Annex Capital HM Capital Partners  ACON Investments LLR Partners  performance improvement, and accountability of existing assets. This has raised Arsenal Capital Partners  Jacobs Private Equity Behrman Capital LS Power Equity Partners Belvedere Capital Partners  Milestone Partners Blum Capital Partners  Metalmark Capital the bar for firms to achieve excellence throughout the entire private equity cycle. The CapStreet Group Platte River Equity  CIVC Partners Pamlico Capital  CHS Capital Resource Capital Funds KPMG’s Private Equity practice can assist with the unique challenges the industry Change Capital Partners Natural Gas Partners Cortec Group Star Avenue Capital Corsair Capital Sterling Partners Freeman Spogli Tenaska Energy  faces and help deliver on every critical aspect of the private equity cycle. DLJ South American Partners  TransOcean Capital The Gores Group  Vector Capital Corporation Falconhead Capital Trinity Hunt Partners  Graham Partners Veronis Suhler Stevenson Fund-raising • Advise on crucial buy, sell, or hold decisions for optimum returns The Halifax Group  Versa Capital Management  Greenbriar Equity Group Walton Street Capital  Halyard Capital Waud Capital Partners • Advise on fund-structuring options to mitigate exposure to tax • Help meet investors’ requirements for portfolio valuations and Irving Place Capital Water Street Capital  Harren Equity Partners The Wicks Group of Companies on investments reporting disclosures JH Partners  Wellspring Capital Management Hicks Holdings  J.W. Childs Associates  Weston Presidio • Advise on the fund managers’ regulatory and compliance • Conduct audits and tax compliance/consulting for portfolio KRG Capital Partners  Wind Point Partners requirements companies Leeds Equity Partners Investment and deals • Conduct audits and tax compliance/consulting for funds and • Perform pre-transaction evaluations and assess a deal’s management companies AUM over $5 billion potential to create value • Provide restructuring and refinancing measures that focus on • Complete detailed financial, tax, and other related due value enhancement and performance improvement Advent International Corporation  Madison Dearborn Partners diligence regarding target investments Angelo, Gordon & Company New Silk Route Partners Exit and realization KPMG serves a majority of Apax Partners Oak Hill Capital Partners  • Help understand the target’s business, its market, and • Act as divestment advisor key operational challenges through use of the group’s Apollo Global Management One Equity Partners the top 100 global private industry‑specific practitioners • Help determine if a portfolio company has reached potential The Blackstone Group Providence Equity Partners value and is ready to be sold The Carlyle Group Silver Point Capital equity firms and their • Provide deal completion and integration assistance • Advise on an exit strategy that limits tax liabilities for divestitures Energy Capital Partners Stone Point Capital portfolio companies. • Advise on efficient forms of financing a target investment Francisco Partners Summit Partners • Consider IPO readiness for entering the public equity markets Global Infrastructure Partners  Sun Capital Partners Fund and portfolio management • Help ensure the reliability of financial and commercial H.I.G. Capital Thomas H. Lee Partners  • Help management build or assess current project plans information that underpins a transaction Highstar Capital TPG Capital  encompassing the strategic, operational, or financial input Kohlberg Kravis Roberts & Co. Warburg Pincus required to improve performance • Assist management in planning realization strategies at the pre‑investment deal stage Leonard Green & Partners  W.L. Ross & Co  • Provide objective and strategic advice at both the portfolio and investor company levels  Fund audit client