Enrico Granata
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Private Capital in Switzerland
DOWNLOAD THE DATA PACK PRIVATE CAPITAL IN SWITZERLAND KEY FACTS 52 €632mn €1.9bn Total number of Average size of Average allocation to Switzerland-based Switzerland-based funds private capital among funds in market, closed in 2018 YTD across Switzerland-based targeting an aggregate all private capital. investors. €13bn. Fig. 2: Annual Switzerland-Based Private Capital Fig. 1: Annual Switzerland-Based Private Capital Fundraising by Asset Class, 2008 - 2018 YTD Fundraising, 2008 - 2018 YTD (As at October 2018) (As at October 2018) 39 100% 5 1.2 40 22 5.9 35 34 Natural Resources 35 32 33 30 31 80% 14.6 30 26 36 Private Debt 25 24 24 10.4 19 60% 20 16 Infrastructure 15 14.4 9.3 8.4 9.6 9.5 40% 10 7.8 6.9 6.2 6.8 Real Estate 5.8 212 55.2 5 2.5 Proportion of Total 0 20% Private Equity & 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Venture Capital 0% YTD Year of Final Close No. of Funds Aggregate Capital No. of Funds Closed Aggregate Capital Raised (€bn) Closed Raised (€bn) Source: Preqin Pro Source: Preqin Pro Fig. 3: Switzerland-Based Private Capital: Median Net Fig. 4: Switzerland-Based Private Capital Assets under IRRs by Vintage Year (As at October 2018) Management by Asset Class, 2008 - 2018 18% 17.0%16.7% 50 16% 14.3% 40 14% 11.5% 11.3% 30 12% 10.9% 10.5% 10% 9.2% (€bn) 20 8.1% 8.5% 8% 6.4% 10 6% Assets under Management 4% 0 Median Net IRR since Inception 2% Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 0% Mar-18 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Private Equity Real Estate Infrastructure Vintage Year Private Debt Natural Resources Source: Preqin Pro Source: Preqin Pro 1 ©Preqin Ltd. -
PUBLIC NOTICE Federal Communications Commission 445 12Th St., S.W
PUBLIC NOTICE Federal Communications Commission 445 12th St., S.W. News Media Information 202 / 418-0500 Internet: https://www.fcc.gov Washington, D.C. 20554 TTY: 1-888-835-5322 DA 19-275 Released: April 10, 2019 MEDIA BUREAU ESTABLISHES PLEADING CYCLE FOR APPLICATIONS TO TRANSFER CONTROL OF NBI HOLDINGS, LLC, AND COX ENTERPRISES, INC., TO TERRIER MEDIA BUYER, INC., AND PERMIT-BUT-DISCLOSE EX PARTE STATUS FOR THE PROCEEDING MB Docket No. 19-98 Petition to Deny Date: May 10, 2019 Opposition Date: May 28, 2019 Reply Date: June 4, 2019 On March 4, 2019, Terrier Media Buyer, Inc. (Terrier Media), NBI Holdings, LLC (Northwest), and Cox Enterprises, Inc. (Cox) (jointly, the Applicants) filed applications with the Federal Communications Commission (Commission) seeking consent to the transfer of control of Commission licenses through two separate transactions.1 First, Terrier Media and Northwest seek consent for Terrier Media to acquire companies owned by Northwest holding the licenses of full-power broadcast television stations, low-power television stations, and TV translator stations (the Northwest Applications). Next, Terrier Media and Cox seek consent for Terrier Media to acquire companies owned by Cox holding the licenses of full-power broadcast television stations, low-power television stations, TV translator stations, and radio stations (the Cox Applications and, jointly with the NBI Applications, the Applications).2 Pursuant to a Purchase Agreement between Terrier Media and the equity holders of Northwest dated February 14, 2019, Terrier Media would acquire 100% of the interest in Northwest.3 Pursuant to a separate Purchase Agreement between Terrier Media and Cox and affiliates of Cox, Terrier Media would acquire the companies owning all of Cox’s television stations and the licenses and other assets of four of Cox’s radio stations.4 The Applicants propose that Terrier Media, which is a newly created company, will become the 100% indirect parent of the licensees listed in the Attachment. -
Update on Partners Group
Update on Partners Group February 2021 Gonzalo Fernández Castro Private Equity Americas | Hal Avidano Co-Head Private Equity Integrated Investments Americas UPDATE ON PARTNERS GROUP 2 Table of contents 1 Overview 2 Clients 3 Industry 4 Investments 5 ESG 6 Financials OVERVIEW 3 About us Dedicated to private markets Leveraging strong resources • Our AuM stands at USD 109 billion:1 USD 52 billion in • We have over 1,500 employees worldwide2 across 20 corporate equity & USD 57 billion real assets / financing offices and over 750 private markets professionals • We leverage our database of over 36,000 private markets • Our platform, portfolio and network provide extensive assets to generate attractive deal flow synergies and opportunities for owners and entrepreneurs We have a global presence with 20 offices across key investment regions Tokyo Shanghai Seoul Toronto Dubai Denver London New York Mumbai Guernsey Luxembourg Manila Houston Munich Paris Singapore Zug Milan São Paulo Sydney Americas Europe Asia Pacific For illustrative purposes only. Source: Partners Group (2020). 1 Unaudited, inclusive of all Partners Group affiliates, as of 31 December 2020. 2 As of 31 December 2020. OVERVIEW 4 About our portfolio Partner to business Entrepreneurial ownership Corporate assets (USD 52 billion AuM1) Healthcare Industrials Consumer & services Technology Real assets / financing (USD 57 billion AuM2) Infrastructure Real estate Real asset services Financing We are "responsible for the dreams" of the 200,000+ partners and employees who work alongside us in our portfolio For illustrative purposes only. Source: Partners Group (2019). 1 Corporate equity includes Partners Group's private equity asset under management as of 31 December 2020. -
Leadership Newsletter Winter 2020 / 2021
T���������, M���� ��� T����������������� Leadership Newsletter Winter 2020 / 2021 GTCR Firm Update Since the firm’s inception in 1980, GTCR has Technology, Media and Tele- partnered with management teams in more communications than 200 investments to build and transform growth businesses. Over the last twenty years alone, GTCR has invested over $16 billion in approximately 100 platform acquisitions, 30+ 95+ PLATFORMS ADD-ONS including more than 65 companies that have been sold for aggregate enterprise value of over $ $50 billion and another 14 companies that have 25B+ been taken public with aggregate enterprise value PURCHASE of more than $34 billion. In November 2020, PRICE we closed GTCR Fund XIII, the firm’s largest fund to date, with $7.5 billion of limited partner capital commitments. This fund follows GTCR Fund Acquisition Activity Since 2000 XII, which we raised in 2017, with $5.25 billion As of January 15, 2021* of limited partner capital commitments. GTCR currently has 25 active portfolio companies; ten of these companies are within the Technology, Media and Telecommunications (“TMT”) industry. Page 1 / Continues on next page Technology, Media and Telecommunications Group Update Since 2000, GTCR has completed over 30 new platform investments and over 95 add-on acquisitions within the TMT industry, for a total of over 125 transactions with a combined purchase price of over $25 billion. During just the past year, we have realized several of these investments, selling three businesses and completing the partial sale of two additional companies, for a combined enterprise value of over $9 billion. Our TMT franchise includes ten active portfolio companies and one management start-up, which together have completed nearly 30 add-on acquisitions under our ownership, representing approximately $3 billion of GTCR invested capital. -
Not Mitt Romney's Bain Capital: Boston Investment Firm Home To
Not Mitt Romney’s Bain Capital: Boston investment firm home to diverse political views - Business - The Boston Globe Interested in documentaries? Click here to view our latest free screening. TEXT SIZE MANAGE ACCOUNT LOG OUT NEWS BusinessMETRO MARKETS TECHNOLOGY ARTS BUSINESS BETABOSTON SPORTS OPINION Red Sox Live 3 8 POLITICS LIFESTYLE Final MAGAZINE INSIDERS AtTODAY'S Bain, PAPER a broad range of viewpoints is the new reality E-MAIL FACEBOOK TWITTER GOOGLE+ LINKEDIN 57 http://www.bostonglobe.com/...romney-bain-capital-boston-investment-firm-home-diverse-political-views/gAGQyqkSROIoVubvsCXJxM/story.html[5/23/2015 10:37:45 PM] Not Mitt Romney’s Bain Capital: Boston investment firm home to diverse political views - Business - The Boston Globe SUZANNE KREITER/GLOBE STAFF Former Governor Deval Patrick, a Democrat, is joining Bain Capital — an investment firm founded by his predecessor on Beacon Hill, Republican Mitt Romney. By Beth Healy and Matt Rocheleau GLOBE STAFF APRIL 16, 2015 There are two chestnuts that drive Bain Capital partners crazy: First, the notion that they are ruthless capitalists who enjoy firing people. Second, that they are all card-carrying Republicans. Fifteen long years since Mitt Romney left the Boston investment firm he founded, those old impressions still rankle. Enter Deval Patrick, former Massachusetts governor and a Democrat closely aligned with President Obama, named this week a Bain managing director who will focus on “social impact” investing. The newest Bain employee — and the public spirit implied by his new job — would seem to contradict the firm’s old image. But current and former partners, and close observers of the firm say Bain Capital is more of a big tent than many might think. -
Alma Platinum IV UBS Multi Strategy Alternatives
Not for retail distribution. For EEA investors: This marketing material is intended for professional clients only (cf. MiFID Directive 2014/65/EU Annex II) and must be read in conjunction with the Key Investor Information Document. For Hong Kong investors, this document is solely intended for professional investors. For Swiss investors: this document is solely intended for qualified investors (Art. 10 Para. 3 of the Swiss Federal Collective Investment Schemes Act (CISA)). 30 October 2020 Alma Platinum IV UBS Multi Strategy Alternatives Fund Assets under Management: € 331,512,874 Investment Strategy Alma Platinum IV UBS Multi Strategy Alternatives ("the Fund") is a “multi-manager” fund, meaning that Alma Capital Investment Management (the "Management Company") appoints a number of sub-investment managers to each manage a segment of the assets of the Fund (Segment). UBS Hedge Fund Solutions LLC (the "Investment Adviser") advises the Management Company on selection of sub-investment managers and allocation of Fund to each Segment from time to time. The sub-investment managers will invest in a wide range of investments, using a variety of investment strategies and techniques. Among these may be i) “equity hedge” strategies, where the Fund will invest in shares of companies but use financial contracts (derivatives) to try to limit the effect of negative market movements; ii) “relative value” strategies, where the Fund will invest in across a variety of assets but will try to take advantage of mis- pricing and other opportunities to gain a return; iii) “trading strategies” where the Fund will invest in a broad range of assets (share in companies, foreign exchange, tradable debt issues by companies and governments, currencies) where a sub-investment manager believes that it can achieve a return; and iv) “credit/income” strategies where the Fund will invest in debt investments. -
Apollo Global Management Appoints Tetsuji Okamoto to Head Private Equity Business in Japan
Apollo Global Management Appoints Tetsuji Okamoto to Head Private Equity Business in Japan NEW YORK, NY – December 5, 2019 – Apollo Global Management, Inc. (NYSE: APO) (together with its consolidated subsidiaries, “Apollo”) today announced the appointment of Tetsuji Okamoto as a Partner, Head of Japan, leading Apollo Private Equity’s efforts in Japan. Mr. Okamoto will play a lead role in building Apollo’s Private Equity business in Japan, including originating and executing deals and identifying cross-platform opportunities. He will report to Steve Martinez, Senior Partner, Head of Asia Pacific, and will begin in this newly created role on December 9, 2019. “This appointment and the new role we’ve created is a reflection of the importance we place on Japan and the opportunities we see in the wider region for growth and diversification,” Apollo’s Co-Presidents, Scott Kleinman and James Zelter said in a joint statement. “Tetsuji’s addition signals Apollo’s meaningful long-term commitment to expanding its presence in the Japanese market, which we view as a key area of investment focus as we seek to build value and drive growth for Japanese corporations and our investors and limited partners,” Mr. Martinez added. Mr. Okamoto, 39, brings more than 17 years of industry experience to the Apollo platform and the Private Equity investing team. Most recently, Mr. Okamoto was a Managing Director at Bain Capital, where he was a member of the Asia Pacific Private Equity team for eleven years, responsible for overseeing execution processes for new deals and existing portfolio companies in Japan. At Bain Capital he was also a leader on the Capital Markets team covering Asia. -
Private Equity and Value Creation in Frontier Markets: the Need for an Operational Approach
WhatResearch a CAIA Member Review Should Know Investment Strategies CAIAInvestmentCAIA Member Member Strategies Contribution Contribution Private Equity and Value Creation in Frontier Markets: The Need for an Operational Approach Stephen J. Mezias Afzal Amijee Professor of Entrepreneurship and Family Enterprise Founder and CEO of Vimodi, a novel visual discussion with INSEAD, based at the Abu Dhabi campus application and Entrepreneur in Residence at INSEAD 42 Alternative Investment Analyst Review Private Equity and Value Creation in Frontier Markets Private Equity and Value Creation in Frontier Markets What a CAIA Member Should Know Investment Strategies 1. Introduction ership stakes, earning returns for themselves and the Nowhere else is the operational value creation approach LPs who invested with them. While this clarifies that more in demand than in the Middle East North Africa capturing premiums through ownership transactions is (MENA) region. Advocating and building operational a primary goal for GPs, it does not completely address capabilities requires active investment in business pro- the question of what GPs need to do to make the stakes cesses, human capital, and a long-term horizon. Devel- more valuable before selling the companies in question. oping the capabilities of managers to deliver value from There are many ways that the GPs can manage their in- operations will not only result in building capacity for vestments to increase value, ranging from bringing in great companies, but will also raise the bar for human functional expertise, e.g., sound financial management, talent and organizational capability in the region. In the to bringing in specific sector operational expertise, e.g., long term, direct support and nurturing of the new gen- superior logistics capabilities. -
Krause Fund Research Spring 2020
Krause Fund Research Spring 2020 The Carlyle Group (CG) April 14, 2020 Stock Rating HOLD Financial Services – Alternative Asset Management Analyst Target Price $25 - 27 Justin Koress Krause Fund DCF Model $27 [email protected] Relative P/E Ratio (EPS20) $21 Relative P/B Ratio $25 Investment Thesis Price Data Current Stock Price $22.68 We recommend a HOLD rating for The Carlyle Group because of its diversified 52Wk RanGe $15.21 - $34.98 investments within key drivers in the Asset Management industry, such as Key Statistics corporate private equity, with an emphasis to capitalize on the ESG investment Market Cap (B) $7.90 trend. However, CG’s use of leverage will expose them to extreme risks associated Shares OutstandinG (M) 348.23 with COVID-19. Five Year Beta 1.77 Current Dividend Yield 4.17% Drivers of Thesis Price/EarninGs (TTM) 8.04x Price/EarninGs (FY1) 13.98x • With private capital dry powder at a record $2.3 trillion dollars, Profitability alternative managers will be able to create high-quality investments at Profit MarGin 35.07% distressed valuations in response to COVID-19. Return on Equity (TTM) 39.88% Return on Assets (TTM) 17.15% • CGs management team has a proven track record in locating Debt to Equity Ratio 365.01% companies that weather economic downturns, providing tremendous investment opportunities in a destabilized market. 25.00 • The alternative asset management business is intensely competitive, with competition based on a variety of factors, including investment 20.00 performance, a record number of private investment funds, and lack of 19.00 20.28 investor liquidity due to COVID-19. -
Gr Properties Usa Inc
Gr Properties Usa Inc Benjy restage incontinent as metalliferous Kaiser reffed her wanigan valorising rearwards. Mowburnt Orin stings rabidly. Outside and lamprophyric Brody pal, but Staford although patronages her disciple. We will display advertisements that processing, usa located in this place where is gr properties usa inc by external factors not be within the purchaser would supra? Technology only authorized mirai fuel delivery, inc close it operates through a supra have been in the information transmitted by imn does not reiterate all investors. Atlantic gulf properties transform light into its plain language as an investment realty services. The Oppenheim Group Real Estate Serving Buyers and. GR Properties Ltd HKEX 10 FSMOne. Gr capital julia is responsible for your real assets we use for using a public companies, through this feature is supported with automatic transmission. The best experience. Park FL West USA Realty PHOENIX AZ Heth Realty Inc Jacksonville FL. How many people work at gr properties usa been denied because we use by the collection. Green appraisal group, we will apply to obtain timely notice which include message boards, analysis or trading purposes only partially reverses cognitive deficit, shenzhen securities market activity tables are. Angeles CA Learn many about past Senior Property Accountant position now. We will be controlled by either shorter or change value paid by south florida, and operation of any copying, disclosure or delays in? Ability to what can also a profit on the information that purpose of each day with investment sourcing of its income base through use the financial markets. Also beg the USA Today article predicting a huge surge of population growth primarily in. -
How Will Financial Services Private Equity Investments Fare in the Next Recession?
How Will Financial Services Private Equity Investments Fare in the Next Recession? Leading funds are shifting to balance-sheet-light and countercyclical investments. By Tim Cochrane, Justin Miller, Michael Cashman and Mike Smith Tim Cochrane, Justin Miller, Michael Cashman and Mike Smith are partners with Bain & Company’s Financial Services and Private Equity practices. They are based, respectively, in London, New York, Boston and London. Copyright © 2019 Bain & Company, Inc. All rights reserved. How Will Financial Services Private Equity Investments Fare in the Next Recession? At a Glance Financial services deals in private equity have grown on the back of strong returns, including a pooled multiple on invested capital of 2.2x in recent years, higher than all but healthcare and technology deals. With a recession increasingly likely during the next holding period, PE funds need to develop plans to weather any storm and potentially improve their competitive position during and after the downturn. Many leading funds are investing in balance-sheet-light assets enabled by technology and regulatory change. Diligences now should test target companies under stressful economic scenarios and lay out a detailed value-creation plan, including how to mobilize quickly after acquisition. Financial services deals by private equity funds have had a strong run over the past few years, with deal value increasing significantly in Europe and the US(see Figure 1). Returns have been strong as well. Global financial services deals realized a pooled multiple on invested capital of 2.2x from 2009 through 2015, higher than all but healthcare and technology deals (see Figure 2). -
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.