DOCSLIB.ORG

Panel Discussion Ik Strategy and Operations Team 12 Eu Directive Regulatory Challenge Welcome Vistra

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Panel Discussion Ik Strategy and Operations Team 12 Eu Directive Regulatory Challenge Welcome Vistra A TRI-ANNUAL Newsletter­ From IK INvestmeNT PartNERS news issUE 26 WINTER 2009 06 THE IK 20 SERIAL CONSOLIDATION AND COMEBACK 10 PANEL DISCUSSION IK STRATEGY AND OPERATIONS TEAM 12 EU DIRECTIVE REGULATORY CHALLENGE WELCOME VISTRA PC NEWS 3 INSIDE IK 14 IKARE UPDATE 17 VIEWPOINT 18 IK NEWS ISSUE 26 CONTENTS EDITORIAL ltitude. A Time for optimism and trust – welcome Vistra ertrand / B NO ONE CAN DESCRIBE rthus- the current A economic environment as benign but conditions are better than they Photo: Yann Photo: Yann were. Proof of IK’s growing optimism is highlighted by our investment in Vistra Group, a leading provider of corporate and trust services. We reveal why we invested and what we hope to achieve in Crossing borders, creating solutions. Anne Holm Rannaleet, a member of the European private equity task force – campaigning for fair and appropriate 04 regulation of the industry – explains in INVESTING IN VISTRA GROUP Regulatory challenge what the PAE is IK enters the growing sector of trust doing and why its work is essential for and corporate services. all industry stakeholders. Closer to home, we provide a candid, 10 no-holds barred description of IK’s IK STRATEGY AND THE CONSOLIDATION AND experiences between 2001 and 2009. OPERATIONS TEAM COMEBACK YEARS The article is the third in the series Meet IK’s change management This is the third and last article to celebrating our 20th birthday, covering experts and trouble shooters. 06 commemorate IK’s 20th anniversary. some of the most challenging years the Time to view the years 2001-2009. firm has been through so far. During the early 2000s, when life was particularly tough for IK, a strategy and operations team were set up, under business veteran Gerard de Geer. Find out more about the team in Change? Yes we can! This edition of IK News also includes pictures from our 20th birthday celebration, news about our portfolio companies, this year’s recipient of the IK Finnish American scholarship CELEBRATION and the views of IK partner, Helena 12 IK celebrated Stjernholm about prospects EU DIRECTIVE its 20th over the next few months. Engagement that makes a difference. anniversary in Meet Anne Holm Ranneleet, chairman London. Enjoy “ With the hope of good IK industrial advisory board and some pictures reading and a Merry member of the European private from this great Christmas!” equity task force. 15 event. EDITOR CAMILLA TELANDER NOTEBOOK A TRI-ANNUAL CALENDAR Newsletter­ From news IK INvestmeNT PartNERS news issUE 26 WINTER 2009 Editor: Camilla Telander, 7 December [email protected] Assistant Editor: Jonas Rodny, Investor meeting, London 06 [email protected] THE IK 20 SERIAL CONSOLIDATION AND COMEBACK Texts: Anders Boye, Joanne Hart, 10 Anne Holm Rannaleet, PANEL DISCUSSION IK STRATEGY AND 8 December OPERATIONS TEAM Camilla Telander, Gustav Öhman 12 Production: Åkesson & Curry AB Industrial Advisory Board meeting, London EU DIRECTIVE REGULATORY CHALLENGE www.akessoncurry.com. www.ikinvest.com During December WELCOME © 2009 IK Investment Partners Ldt. All rights reserved. Neither 30 September 2009 Reports’ distributed to investors this publication nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, VISTRA electronic, mechanical, photocopying , recording or otherwise, PC NEWS 3 INSIDE IK 14 IKARE UPDATE 17 VIEWPOINT 18 without the prior per mission of IK investment Partners. IK News is published three times a year by IK investment Partners, Brettenham House, Lancaster Place, London WC2E 7EN, UK. weblinks to portfolio companies www.attendo.se www.axtone.pl www.dynea.com www.etanco.fr www.europris.no www.flabeg.com www.idex-groupe.com www.kwintet.com www.magotteaux.be www.minimax.de www.moventas.com www.pasteur-cerba.com www.polytan.de www.schenckprocess.com www.sia-homefashion.com www.superfos.dk www.tradeka.fi www.vistra.com www.welzorg.com 2 – IK NEWS 3/09 PORTFOLIO COMPANY NEWS NOTEWORTHY ADD-ON ACQUISITION Wehkamp expands LEADIng DutCH online sales group RFS Holland acquired a majority stake in Create2Fit, another fast-growing online retail business specialising in telecoms, automotive and camping products. RFS Holland is the holding company for Wehkamp, the largest and most respected online store in the Nether- lands, and Lacent, the rapidly expanding online financial services business. IK acquired Wehkamp in January 2006, transforming sales FIRE PROTECTION growth from negative to positive while doubling operating profits. Last December, IK sold most of the retailer to a group New Minimax research centre of private investors, but retained a minority stake. MINIMAX, the leading European provider of fire protection technology has opened Create2Fit operates several specialist e-tailers, including a research centre at its Bad Oldesloe headquarters — the largest, most up-to-date Plasmadiscounter, Sneeuwkettingen and Barbequeshop. in-house fire protection test centre in Germany to help Minimax maintain and develop Joining RFS Holland provides growth opportunities and its highly regarded research capabilities. reasuring, founders Tom Coronel and Marc Koster will retain German Secretary of State for Trade and Industry, Karin Wiedermann, praised the shares, and stay on as managers. new site; “The Minimax fire research centre is an investment in the future,” she said. Wehkamp receives more than five million ‘hits’ a month and The centre offers several technical innovations, including a mobile suspended ceiling, ships around five million items a year. Lacent provides financial which can be used to lower ceiling height from 15 metres to two metres. This mobility services ranging from insurance to loans, credit analysis, and allows testers to simulate different enclosures, ranging from a small garage to a large database management. industrial warehouse. Minimax was acquired by IK Investment Partners in 2006 and is based in Schleswig- Holstein Germany. Their motto is; “It’s all on fire at our place so it won’t be on fire at yours.” Minimax is controlled by the IK2004 Fund. Visit www.minimax.de for more information. MECHANICAL DRIVES Paper mill contract win FInnISH POWER TRANSMISSION specialist, Moventas, has won a contract in China, delivering equipment for a paper machine line supplied by global engineering group Metso. The contract SOLAR ENERGY highlights Moventas’ broadening Flabeg opens in geographic focus. Moventas products and drive Pittsburgh solutions will be used across the paper FLABEG, the leading supplier of glass production line in the off-line coater, in products to the automotive and solar energy two winders, the paper machine dryer sectors, has just opened a new production and reel sections. The dryer includes a facility in Pittsburgh, USA. DRG drive concept specially developed The site will be used to make solar by Moventas for high-speed paper machines. mirrors, which help to generate electricity PRIZE at large-scale solar power plants. The $30 Under the contract, Moventas will million factory received 700,000 orders even manage the mechanical drive layout Superfos paint container awarded before it opened and Flabeg expects to and engineering to ensure smooth COPEnhAGEN-BASED Superfos received a prestigious Scan- reach a capacity of a million mirrors annually. and effective operation of the power star prize for 2009 issued by the SPA (Scandinavian Packaging The Pittsburgh facility is particularly transmission equipment. The company Association) — Scandinavia’s highly respected packaging special special because it has been equipped to will also provide a mechanical drive interest organisation. The unanimous jury awarded the prize for produce tempered solar mirrors as well as spare parts package to Metso. Paintainer, a unique plastic container developed for paint com- the traditional, untempered variety. Moventas has more than 1300 bining the advantages of plastic with the appearance of metal. “We want to be fully prepared for any employees in eight countries around Paintainer won against 30 rival nominations based, on the possible changes in the law and we expect the globe. Moventas is controlled by the container’s user-friendliness, flexibility, ease if in opening and some federal states will introduce standards IK2004 Fund. Visit www.moventas.com closing (minimising spill) and visual appeal. for concentrated solar power applications. for more information. “We are very proud. This recognition shows our product Our core production will remain focused on development efforts are worth it. The Paintainer appearance fits untempered solar mirrors but, as always, the market’s preference for metal adding the benefits of plastic,” we like to keep abreast of the changing said communications manager Annette Gottsche. demands of the market,” says Flabeg chief Paintainer containers make less noise during production executive, Axel Buchholz. and are lighter for easier handling and transport. Straight sides Flabeg was founded in 1882 and is head- provide a large area for branding and decoration. “Paintainer quartered in Nuremburg, Germany and ope- suits tinting machines and comes in every colour,” says Annette. rates across the world through production The containers are leak-proof and rust-free. They do not dent, facilities in Europe, the Americas and Asia. scratch other surfaces on contact or require a tool to open. Flabeg in controlled by the IK2007 Fund. Superfos is controlled by the IK1997 Fund. Visit www.superfos.dk Visit www.flabeg.com for more information. for more information. IK NEWS 3/09 – 3 NEW DEAL VISTRA Trust and corporate services is a fast growing sector that is changing even faster. IK Investment Partners recently made its first foray in the industry, acquiring a majority stake in Vistra Group. CROSSING BORDERS, CREATING SOLUTIONS roviding corporate and trust services involves understanding, discretion and reliability. Clients, whether international corporations, wealthy individuals, or fund managers need to P know their business is being handled by professionals, who know what they are doing and will act to maximize efficiency and minimize fuss. In a fragmented industry where capabilities vary, many providers promise more than they deliver.
Load more

Recommended publications
  • Private Equity Newsletter Quarterly Special | Edition 1+2/2021 Dear Friends
    PRIVATE EQUITY Newsletter QUARTERLY SPECIAL | EDITION 1+2/2021 SIGNED DEALS for 2020 and Q1/2021 within the German-speaking region EUROPEAN PE MARKET Interview with Senior Partner Christof Huth and Principal Dr Thorsten Groth as well as digital expert Dr Ulrich Kleipaß MOST RECENT STUDIES by Roland Berger Private Equity Newsletter Quarterly Special | Edition 1+2/2021 Dear Friends, Christof Huth dear Clients, What a start to the year! The first quarter of 2021 has broken almost every record so far. This edition of the Newsletter provides an overview of the tremendous deal flow in the first quarter of 2021 in com- parison to last year and examines various developments influencing the PE market. Additionally, it offers an overview of recent Roland Berger studies. Dr Sascha Haghani The 2020 PE year (197 transactions) saw lower deal activity overall than 2019 (253 transactions), driv- en by declines in the first half of 2020 in particular. In the second half of 2020, there was a quick recovery in PE-related deal-making in German-speaking Europe, which continues into 2021 so far. With 90 deals, Q1 of 2021 not only surpassed the already strong Q3 of 2020 but represents the strongest quarter in the long history of the PE Newsletter. Economically, the dominant topic for 2020 was COVID-19 and its impact on deal-making, on portfo- Sven Kleindienst lio companies and on daily life. By now the PE industry has become used to successfully dealing with COVID-19-related restrictions during deal-making and is focused on companies’ development outlook beyond COVID-19.
    [Show full text]
  • The Operating Impact of Management Ownership Evidence from Private Equity Buyouts in Sweden
    Stockholm School of Economics Department of Finance MSc thesis – Spring 2013 Supervisor: Assistant Professor Michael Halling The Operating Impact of Management Ownership Evidence from Private Equity Buyouts in Sweden Abstract Using a novel dataset comprising 161 private equity buyouts in Sweden between 2002 and 2008, this paper investigates the impact of management participation on operating performance in buyouts. The authors compare performance in private equity sponsored management buyouts (MBOs) with other buyouts and also investigate the effect of management ownership in buyout companies. The analysis is carried out using regression analysis over two event windows, the three years following the buyout year and the period from entry to exit. The authors find that a higher management equity stake has a positive effect on profitability in buyout companies, but has a negative impact on growth. Additionally, the study finds that MBOs tend to outperform other buyouts over the full holding period. Looking at employee growth, larger management ownership in buyout companies is found to have a significant positive effect on employment. Keywords: Private equity, management buyout, MBO, management incentives, operating performance Mikael Svanberg Christopher Wanzelius [email protected] [email protected] Acknowledgements We would like to thank our tutor, Assistant Professor Michael Halling, for valuable support and guidance during the process of writing this paper. We also acknowledge Professor Per Strömberg, who was kind enough to provide feedback on our chosen topic. Last but not least, we would like to thank our friends and family for their encouragement and patience during the past few months. 1 Table of Contents Table of Contents ...............................................................................................................
    [Show full text]
  • THE in OUR Smes
    INTEGRATED REPORT 2017 Unlocking THE tal nts IN OUR SMEs 2017 HUMAN CAPITAL FINANCIAL CAPITAL INDUSTRIAL CAPITAL INTELLECTUAL CAPITAL ENVIRONMENTAL CAPITAL HIGHLIGHTS Eurazeo PME III Acquisition of 4 new talents In’Tech Medical 3 new digital AROUND €3 M in the Eurazeo €658 M projects at in avoided costs were raised for the Eurazeo PME team PME III fund: €408 million from Redspher The portfolio companies are Eurazeo and €250 million from stepping up the roll-out of their The 3 digital projects Alexis, Florent and Charles third parties, including €20 million CSR strategies rolled out in 2017 enabled have joined the investment from private investors that chose Redspher to generate team and Margaux has French private equity additional revenues joined the corporate of €7 million team. In 2018, Anne will boost our competencies in management & organization Sale of Colisée Group 15 57% deals Eurazeo PME became a 57% shareholder completed SOCIAL & RELATIONSHIP 2.5x of In’Tech Medical, 2 acquisitions multiple achieved on the sale of at Eurazeo PME III CAPITAL 500 Colisée Group to IK Investment leader in the (Smile, In’Tech Medical) hirings at Smile Partner for €236 million, three manufacture of years after the acquisition 11 build-ups orthopedic surgical over the next EF Express (Redspher Group), €3 instruments. Jacques Boulard BILLION 4 years (Odealim Group), The ambition we shared Upela (Redspher Group), in socio- P.12 (Colisée Group), Following the 2017 acquisition with management is Netwave (Orolia) economic of Smile, a French Open to develop
    [Show full text]
  • Press Release As
    Press release 8 October 2020 About IK Investment Partners IK Investment Partners (“IK”) is a Pan- IK Investment Partners to acquire You Sure European private equity firm focused on investments in the Benelux, DACH, IK Investment Partners (“IK”) is pleased to announce that the IK Small France, Nordics and the UK. Since Cap II Fund has reached an agreement to acquire a majority stake in You 1989, IK has raised more than €13 billion of capital and invested in over Sure Investments B.V. (“You Sure” or “the Company”) from Synergia 135 European companies. IK supports Capital Partners (“Synergia”). The transaction is subject to AFM companies with strong underlying potential, partnering with management clearance. Financial terms of the transaction are not disclosed. teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For You Sure is a leading Dutch insurance distribution platform, providing more information, visit insurance to small businesses and individuals. Operating mainly in the www.ikinvest.com Property and Casualty (“P&C”) segment, You Sure acts both as an insurance About IK Small Cap II broker and a Managing General Agent (“MGA”), and currently serves over The €550 million IK Small Cap II Fund (“IK Small Cap II” or “the Fund”) 60,000 customers. closed in 2018 and invests in growing businesses across IK’s four core sectors: Business Services, Headquartered in Ridderkerk, You Sure employs over 130 people across Consumer/Food, Engineered Products seven offices in the Netherlands. The Company was founded in 2011 by Ger and Healthcare. Dedicated investment teams in Amsterdam, Copenhagen, Knikman and Joep van den Eijkel, who have been active in the insurance Hamburg, London, Paris and industry for over 30 and 40 years, respectively, and have worked together Stockholm look to support businesses with an Enterprise Value of between c.
    [Show full text]
  • Standard Life Private Equity Trust Plc
    Standard Life Private Equity Trust plc Interim Report & Financial Statements For the six months ended 31 March 2019 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the action you should take, you are recommended to seek your own independent financial advice from your stockbroker, bank manager, solicitor, accountant or other independent financial adviser authorised under the Financial Services and Markets Act 2000, (as amended by the Financial Services Act 2012) if you are in the United Kingdom or if not, from another appropriately authorised financial adviser. If you have sold or otherwise transferred all your ordinary shares in Standard Life Private Equity Trust plc, please forward this document, together with the accompanying documents, immediately to the purchaser or transferee, or to the stockbroker, bank or agent through whom the sale or transfer was effected for transmission to the purchaser or transferee. Investors should review the Company’s Key Information Document (KID) prior to making an investment decision. This can be obtained free of charge from www.slpet.co.uk or by writing to SL Capital Partners LLP, 1 George Street, Edinburgh, Scotland, United Kingdom, EH2 2LL. Contents 1 Highlights 3 Chair’s Statement 5 Report of the Manager 5 Company Details 6 Investment Strategy 7 How the Company invests in private equity 7 The investment cycle 8 The private equity investment model 9 Investment Activity Report of the Manager 28 Financial Statements (continued) 28 Condensed Statement of
    [Show full text]
  • PARSEC Deliverable Template
    D2.8 Investment Landscape Mapping WP2 – Cross-border and cross-sectoral collaboration Authors: Staša Stojkov Rošić, Isidora Stojačić Date: 30.07.2020. research and innovation programme under grant agreement No 824478. This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 824478. D2.8 Investment Landscape Mapping Full Title Promoting the international competitiveness of European Remote Sensing companies through cross-cluster collaboration Grant Agreement 824478 Acronym PARSEC No Start date 1st May 2019 Duration 30 months EU Project Officer Milena Stoyanova Project Coordinator Emmanuel Pajot (EARSC) Date of Delivery Contractual July 2020 Actual July 2020 Nature R Dissemination Level Public Lead Beneficiary BIOS Lead Author Staša Stojkov Rošić Email [email protected] Isidora Stojačić (BIOS), Milana Barać (BIOS), Isidora Simović (BIOS), Mina Other authors Bjelica (BIOS), Dimitrije Mijatović (BIOS), Milica Milovanović (BIOS) Reviewer(s) Nico Thom (EVF) investment, opportunities, types of funding, public funding, private funding, Keywords pitching Document History Version Issue date Stage Changes Contributor 1.1 19.05.2020 Draft First TOC and division of tasks BIOS 1.2 12.06.2020 Draft First content input BIOS 1.3 16.06.2020 Draft Additional content input BIOS 1.4 08.07.2020 Draft Chapters revised; input added BIOS 1.5 15.07.2020 Draft First official draft finished BIOS 2.0 17.07.2020 Draft Review of the draft EVF 3.0 30.07.2020 Final Implemented feedback BIOS Disclaimer Any dissemination of results reflects only the author’s view and the European Commission is not responsible for any use that may be made of the information it contains Copyright message © PARSEC consortium, 2019 This deliverable contains original unpublished work except where clearly indicated otherwise.
    [Show full text]
  • The Impact of Private Equity Investors on Their Portfolio Companies
    The Impact of Private Equity Investors on their Portfolio Companies Mike Wright Centre for Management Buyout Research Nottingham University Business School www.cmbor.org Centre for Management Buy-out Research Identified emergence of UK buy-out and private equity market early 1980s Organised first European buy-out conference in 1981 Centre for Management Buy-out Research (CMBOR) Established in 1986 at Nottingham University Business School To examine developments in UK & European buy-out markets in comprehensive and independent manner 25 years of research into MBO/MBIs Established world leading database of buy-outs Currently >25,000 buy-outs in UK and Europe Number of publications generated from database including: UK Quarterly Review and European MBO Review Academic Articles Private Equity & Portfolio Companies 1600 200000 1400 180000 160000 1200 140000 1000 120000 n 800 100000 illio m umber N 600 80000 € 60000 400 40000 200 20000 0 0 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 Number Value (€m) From Folklore to Science Summarize main themes from over 100 studies covering US and Europe (Gilligan and Wright, 2010) Performance, growth and their drivers Role of Boards Employment and employee relations Asset sales, Longevity and distress Source: CMBOR Do Buyouts Improve Firm Performance? Buy-outs improve profitability Operating profitability of PE backed buy-outs greater than for comparable non-buyouts by 4.5% over first three buy- out years Industry specialisation of private equity firm important Similar evidence from France & NL BUT Public to Privates [PTPs] Emerging US and UK evidence suggests accounting returns on 1990s/2000s deals are not as great as for 1980s deals [Guo et al., 2009; Weir et al., 2008] Source: CMBOR/Barclays Private Equity/Deloitte Do Buyouts Improve Firm Performance? Buy-outs improve productivity Total factor productivity (TFP) assessed 36,000 UK manufacturing establishments 4,877 experienced MBO between 1994-8 MBO establishments were approx.
    [Show full text]
  • Supplementary Data Supplementary Data 1
    Annual Report and Accounts 31 January 2019 Supplementary Data Supplementary Data 1 HVPE’s HarbourVest Fund Investments at 31 January 2019 HVPE’s HarbourVest Fund investments and secondary co-investments are profiled below. Financial information at 31 January 2019 for each fund is provided in the Financial Statements of the Company’s Annual Report and Accounts on pages 77 and 78. V = Venture, B = Buyout, O = Other, P = Primary, S = Secondary, D = Direct Co-investment HarbourVest Fund Phase Vintage Year Stage Geography Strategy Investment Phase HarbourVest Partners Co-Investment V Investment 2018 V, B, O Global D HarbourVest Adelaide Investment 2018 B, O US, EUR, RoW S, D HarbourVest 2018 Global Fund Investment 2018 V, B, O Global P, S, D HarbourVest Partners XI Venture Investment 2018 V US P, S, D HarbourVest Partners XI Micro Buyout Investment 2018 B US P, S, D HarbourVest Partners XI Buyout Investment 2018 B US P, S, D HIPEP VIII Asia Pacific Fund Investment 2017 V, B AP P, S, D HarbourVest 2017 Global Fund Investment 2017 V, B, O Global P, S, D HIPEP VIII Partnership Fund Investment 2017 V, B EUR, AP, RoW P, S, D Secondary Overflow Fund III Investment 2017 V, B, O Global S HarbourVest Partners Co-Investment IV Investment 2016 V, B Global D Dover Street IX Investment 2016 V, B Global S HarbourVest Real Assets III Investment 2016 O Global S HarbourVest 2016 Global Fund Investment 2016 V, B, O Global P, S, D HarbourVest 2015 Global Fund Investment 2015 V, B, O Global P, S, D HarbourVest Canada Growth Fund Investment 2015 V US, CAN P, D
    [Show full text]
  • IK Investment Partners Raises €1.2 Billion in Three Months for Third
    Press release 19 April 2021 IK Investment Partners raises €1.2 billion in three months for third Small Cap fund About IK Investment Partners IK Investment Partners (“IK”) is a Pan-European private equity firm IK Investment Partners (“IK” or “the Firm”), a leading Pan-European focused on investments in the Benelux, DACH, France, Nordics private equity firm, is pleased to announce that it has closed the IK Small and the UK. Since 1989, IK has Cap III Fund (“IK Small Cap III” or “the Fund”) at its hard cap with raised more than €14 billion of capital and invested in 145 commitments of €1.2 billion. The IK Small Cap III Fund was significantly European companies. IK supports oversubscribed and allocated exclusively to existing IK platform companies with strong underlying potential, partnering with investors in just three months, having been raised on a fully virtual basis. management teams and investors to create robust, well-positioned businesses with excellent long-term The Fund is more than double the size of its €550 million predecessor, IK Small prospects. For more information, Cap II Fund, and was raised exclusively with the support of existing investors visit www.ikinvest.com across the IK platform. IK Small Cap III will continue to employ the same investment strategy focused For further questions, please contact: on growing businesses across IK’s core sectors of Business Services, Healthcare, Consumer and Industrials and will make investments in IK Investment Partners Maitland/AMO companies with enterprise values of between €50 million and €150 million. The James McFarlane Fund includes a dedicated Development Capital pool which will focus on Phone: +44 (0) 7584 142 665 [email protected] investing in smaller companies valued up to €50 million, in line with IK’s original Small Cap I Fund strategy.
    [Show full text]
  • Announcing EUROPE M&A ATLAS AWARDS
    ANNUAL AWARDS GALA JULY 17, 2012 7.00 pm Guest Reception 8.00 pm Dinner 8.50 pm Welcome Remarks Awards Ceremony 10.30 pm Farwell Destination: London Museum, London, United Kingdom FIRM of the YEAR AWARD CATEGORIES, 2012 PRIVATE EQUITY FIRM of the YEAR │ LARGE MID MARKETS Eligibility Criteria: (1) Notable acquisitions completed in 2011 valued predominantly above $500 million and below a billion USD market segments; (2) Acquisition exemplifies fund investment strategy; (3) Team leadership and depth of expertise. (4) Pan-European, three or more regions. AXA Private Equity BC Partners Bridgepoint Capital Cinven Group EQT Partners PRIVATE EQUITY FIRM of the YEAR │ MID MARKETS Eligibility Criteria: (1) Notable acquisitions completed in 2011 valued predominantly above $250 million and below $500 million market segments; (2) Acquisition exemplifies fund investment strategy; (3) Team leadership and depth of expertise. (4) Pan-European, three or more regions. 3i Private Equity Equistone Partners Europe Gimv Private Equity IK Investment Partners Palamon Capital Partners PRIVATE EQUITY FIRM of the YEAR │ SMALL MID MARKETS Eligibility Criteria: (1) Notable acquisitions completed in 2011 valued predominantly below $250 million market segments; (2) Acquisition exemplifies fund investment strategy; (3) Team leadership and depth of expertise. (4) Pan-European, three or more regions. Baird Capital Partners Europe NBGI Private Equity Pioneer Point Partners Stirling Square Capital Partners The Riverside Company VENTURE CAPITAL FIRM of the YEAR Eligibility Criteria: (1) Firm must have an early/start-up, growth investment strategy; (2) Notable investments completed in 2011 exemplifies fund investment strategy; (3) Team leadership and depth of expertise. (4) Pan-European presence.
    [Show full text]
  • The Effect of Managerial Turnover on Stock Market Performance*
    STOCKHOLM SCHOOL OF ECONOMICS Master Thesis in Finance Autumn 2013 Is Bigger Always Better? * A Study of Value Creation in Private Equity Christopher Drewsen♥ Gustav Moss♣ Abstract This article investigates value creation in leveraged buyouts conducted in Scandinavia during the period between 1997 and 2012, with the emphasis on differences in such value creation dependent on target sizes. This is done by conducting an event study on 199 buyouts using accounting-based performance metrics. The results found indicate excess value creation of private equity portfolio companies in general, evidence prevailing irrespective of target size. More specifically, the authors find improvements in operational efficiency and changes in investment policies to be more prevalent within larger targets, while no such statistical differences can be inferred with respect to differences in growth. Numerous plausible explanations are presented, with the overarching picture indicating larger targets to be more conducive to value creation. ♥[email protected] ♣[email protected] Keywords: Private Equity, Leveraged Buyout, Value Creation and Size Factor Tutor: Assistant Professor Cristina Cella Presentation: 20 December 2013 Location: Stockholm School of Economics, Sveavägen 65, Stockholm, Sweden Discussants: Mattias Holmberg and Martin Stenlund * The authors are grateful to Assistant Professor Cristina Cella for her devotion and valuable guidance, and her support in tough times, along with the econometric contributions received from Assistant Professor Michael
    [Show full text]
  • Now with Co-Investments
    M A R T E N & C O Update | Investment companies 29 May 2019 Standard Life Private Equity Trust Sector Private equity Now with co-investments Ticker SLPE LN Base currency GBP Standard Life Private Equity Trust (SLPE), has made Price 356.0p its first co-investment in Mademoiselle Desserts, NAV* 415.0p alongside IK Investment Partners – see page 9, with Premium/(discount) (14.2%) Yield** 3.6% more set to follow (up to 20% of NAV over time). * Morningstar estimate as at 28 May 2019, last published 407.3p at 30 April 2019. ** based on a prospective dividend Shareholders approved a change to the investment policy in January of 12.8p per share for 2019 year. to permit co-investments (an area in which the manager has a successful track record), which has increased SLPE’s opportunity Share price and discount set. This, combined with a stronger US team, provides a foundation Time period 30/04/2014 to 24/05/2019 on which the manager can continue to build SLPE’s record of 400 10 outperformance. SLPE’s manager (a top 10 private markets 350 0 manager globally) says that it aims to ensure that 70% of the 300 -10 portfolio continues to be invested with managers whose funds’ 250 -20 performance is first or second quartile. It believes that this approach 200 -30 will allow it to generate strong returns over the longer term. 150 -40 2014 2015 2016 2017 2018 2019 Private equity fund of funds with a European bias Price (LHS) Discount (RHS) Source: Morningstar, Marten & Co Standard Life Private Equity Trust aims to achieve long-term total returns through a diversified portfolio of private equity funds, and direct investments into private companies alongside private equity Performance over five years managers (co-investments), the majority of which will have a Time period 30/04/2014 to 30/04/2019 220 European focus.
    [Show full text]