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Neuberger Berman/New Jersey Custom Investment Fund II (“NB/NJ Custom Fund II”)
Agenda Item 5a CHRIS CHRISTIE DEPARTMENT OF THE TREASURY Governor DIVISION OF INVESTMENT P.O. BOX 290 KIM GUADAGNO TRENTON, NJ 08625-0290 ANDREW P. SIDAMON-ERISTOFF Lt. Governor State Treasurer January 20, 2012 MEMORANDUM TO: The State Investment Council FROM: Timothy Walsh Director SUBJECT: Proposed Investment in Neuberger Berman/New Jersey Custom Investment Fund II (“NB/NJ Custom Fund II”) The New Jersey Division of Investment (“Division”) is proposing an investment of $200 million in Neuberger Berman/New Jersey Custom Investment Fund II (“NB/NJ Custom Fund II”). This memorandum is presented to the State Investment Council (the “Council”) pursuant to N.J.A.C. 17:16- 69.9. As part of NJDOI’s separate account mandate to achieve attractive risk adjusted returns while promoting economic benefits within the State of New Jersey and Northeast region, staff and SIS are recommending a commitment to NB/NJ Custom Fund II. A report of the Investment Policy Committee (“IPC”) summarizing the details of the proposed investment is attached. Division Staff and its private equity consultant, Strategic Investment Solutions, undertook extensive due diligence on the proposed investment in accordance with the Division’s Alternative Investment Due Diligence Procedures. As part of its due diligence process, staff determined that the fund has not engaged a third-party solicitor (a "placement agent") in connection with New Jersey’s potential investment. We will work with representatives of the Division of Law and outside counsel to review and negotiate specific terms of the legal documents to govern the investment. In addition, the proposed investment must comply with the Council’s regulation governing political contributions (N.J.A.C. -
Capital Markets
U.S. DEPARTMENT OF THE TREASURY A Financial System That Creates Economic Opportunities Capital Markets OCTOBER 2017 U.S. DEPARTMENT OF THE TREASURY A Financial System That Creates Economic Opportunities Capital Markets Report to President Donald J. Trump Executive Order 13772 on Core Principles for Regulating the United States Financial System Steven T. Mnuchin Secretary Craig S. Phillips Counselor to the Secretary Staff Acknowledgments Secretary Mnuchin and Counselor Phillips would like to thank Treasury staff members for their contributions to this report. The staff’s work on the report was led by Brian Smith and Amyn Moolji, and included contributions from Chloe Cabot, John Dolan, Rebekah Goshorn, Alexander Jackson, W. Moses Kim, John McGrail, Mark Nelson, Peter Nickoloff, Bill Pelton, Fred Pietrangeli, Frank Ragusa, Jessica Renier, Lori Santamorena, Christopher Siderys, James Sonne, Nicholas Steele, Mark Uyeda, and Darren Vieira. iii A Financial System That Creates Economic Opportunities • Capital Markets Table of Contents Executive Summary 1 Introduction 3 Scope of This Report 3 Review of the Process for This Report 4 The U.S. Capital Markets 4 Summary of Issues and Recommendations 6 Capital Markets Overview 11 Introduction 13 Key Asset Classes 13 Key Regulators 18 Access to Capital 19 Overview and Regulatory Landscape 21 Issues and Recommendations 25 Equity Market Structure 47 Overview and Regulatory Landscape 49 Issues and Recommendations 59 The Treasury Market 69 Overview and Regulatory Landscape 71 Issues and Recommendations 79 -
Project Details
Early Warning System IFC-38489 Orazul Energia Early Warning System IFC-38489 Orazul Energia Quick Facts Financial Institutions International Finance Corporation (IFC) Status Active Bank Risk Rating A Borrower ORAZUL ENERGIA PARTNERS LLC Sectors Energy, Hydropower Investment Type(s) Equity Project Cost (USD) $ 120.00 million Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-38489 Orazul Energia Project Description The proposed investment is an equity participation in a newly created vehicle (“Orazul Energia Partners LLC ”) with I Squared Capital, to acquire the assets of Duke Energy International, an energy platform, located in Peru, Argentina, Chile, and Ecuador (“Portfolio”). The Portfolio consists of over 1,600 megawatts of operating hydroelectric and thermal power plants, transmission lines and gas-processing operations. IFC Global Infrastructure Fund, LP, an investment fund managed by IFC Asset Management Company, LLC, a wholly owned subsidiary of IFC, will invest alongside IFC. IFC’s investment proceeds will be used to acquire and develop a portfolio of renewable power projects in Latin America. Through this investment, IFC will be supporting strategic partners which have demonstrated strong operational and management capacity in the power sector. Early Warning System https://ews.rightsindevelopment.org/ [email protected] Early Warning System IFC-38489 Orazul Energia Investment Description International Finance Corporation (IFC) Duke Energy Holdings Corporation (“Duke”) is a publicly-traded, diversified energy company headquartered in Charlotte, North Carolina, U.S., and is the largest North American utility company. Listed on the New York Stock Exchange (NYSE: DUK), Duke is a Fortune 250 company with a market capitalization of US$55.0 billion and an enterprise value of US$98.0 billion. -
SRGL 2011 Information Statement
Scottish Re Group Limited P.O. Box HM 2939 Crown House, Second Floor 4 Par-la-Ville Road Hamilton HM 08, Bermuda May 11, 2011 Dear Scottish Re Group Limited Shareholder: You are cordially invited to attend the Extraordinary General Meeting of Shareholders of Scottish Re Group Limited (the “Company”), to be held at the Fairmont Hamilton Princess Hotel, 76 Pitts Bay Road, Pembroke HM 11 Bermuda HM CX, on June 8, 2011, at 9:00 a.m., Bermuda time. The enclosed Notice of Extraordinary General Meeting of Shareholders to be held on June 8, 2011 (the “Notice”) and information statement describe fully the formal business to be transacted at the Extraordinary General Meeting. At this important meeting, you will be asked to consider and vote upon proposals (i) to approve, authorize and adopt the Agreement and Plan of Merger, dated as of April 15, 2011 (as amended or supplemented, the “Merger Agreement”), by and among the Company, SGRL Acquisition, LDC (“SRGL LDC”), Benton Street Partners I, L.P. (“Benton I”), Benton Street Partners II, L.P. (“Benton II”), Benton Street Partners III, L.P. (“Benton III” and, together with Benton I and Benton II, “Benton”) and SRGL Benton Ltd. (“Merger Sub”) and the plan of merger referred to in Section 233(3) of the Companies Law (2010 Revision), as amended (the “Plan of Merger”), and the merger contemplated thereby, (ii) to make certain amendments to the Company’s Amended and Restated Articles of Association (amended and restated by Special Resolutions passed on March 2, 2007) (the “Proposed Amendments”) and (iii) to approve and adopt certain resolutions relating to the foregoing proposals (the “Resolutions”). -
Attendee Biographies
Attendee Biographies 14 -16 October, 2009 Mexico City SUMMIT DETAILS AllianceofYouthMovements.org Contents Felice Gorordo, 9 Verónica Nur Valdéz, 9 Participants 4 S.E.T. (Students Expressing the Truth) Foundation / Inmate Diaries (Jamaica), 9 48 Hour Hunger Strike in Saudi Arabia: Solidarity with Detainees Kevin Wallen, 10 in KSA (Saudi Arabia), 4 Waleed Abu Alkeer, 4 Sri Lanka Unites (Sri Lanka), 10 Prashan De Visser, 10 A Better LA (United States), 4 Brian Center, 4 STAND (United States), 10 Jaime Carroll, 4 Daniel Teweles, 10 Burma Global Action Network (United States), 4 Tehran Bureau (United Kingdom), 10 Sophie Lwin, 4 Kelly Golnoush Niknejad, 10 Conflict Mediation Services of Downsview (Canada), 4 The Nut Graph (Malaysia), 11 Michele Suavé, 4 Deborah Loh, 11 Corporación Foro del la Juventud Guayaquil (Ecuador), 5 The People's March (United Kingdom), 11 Mayra Cedeño Proaño, 5 Gemma Always, 11 Cuba Development Initiative (United States), 5 ThinkMoldova (Moldova), 11 Marc Wachtenheim, 5 Natalia Morari, 11 Developing Minds (Brazil), 5 To Write Love On Her Arms (United States), 11 Phillippe Houdard, 5 Jamie Tworkowski, 11 Chris Youngblood, 12 Etemad Melli (United Kingdom), 5 Masih Alinejad, 5 Un Millón de Voces Contra ETA (Spain), 12 Rafael Delgado, 12 Full Court Peace (Ireland), 6 Michael Evans, 6 Un Millón de Voces Contra Las FARC (Colombia), 12 Oscar A. Morales Guevara, 12 Genç Siviller (Turkey), 6 Ceren Kenar, 6 Un Mundo Sin Mordaza (Venezuela), 12 Fatih Demerci, 6 Rodrigo Diamante, 12 Genocide Intervention Network (United States), -
JP Morgan Chase Sofya Frantslikh Pace University
Pace University DigitalCommons@Pace Honors College Theses Pforzheimer Honors College 3-14-2005 Mergers and Acquisitions, Featured Case Study: JP Morgan Chase Sofya Frantslikh Pace University Follow this and additional works at: http://digitalcommons.pace.edu/honorscollege_theses Part of the Corporate Finance Commons Recommended Citation Frantslikh, Sofya, "Mergers and Acquisitions, Featured Case Study: JP Morgan Chase" (2005). Honors College Theses. Paper 7. http://digitalcommons.pace.edu/honorscollege_theses/7 This Article is brought to you for free and open access by the Pforzheimer Honors College at DigitalCommons@Pace. It has been accepted for inclusion in Honors College Theses by an authorized administrator of DigitalCommons@Pace. For more information, please contact [email protected]. Thesis Mergers and Acquisitions Featured Case Study: JP Morgan Chase By: Sofya Frantslikh 1 Dedicated to: My grandmother, who made it her life time calling to educate people and in this way, make their world better, and especially mine. 2 Table of Contents 1) Abstract . .p.4 2) Introduction . .p.5 3) Mergers and Acquisitions Overview . p.6 4) Case In Point: JP Morgan Chase . .p.24 5) Conclusion . .p.40 6) Appendix (graphs, stats, etc.) . .p.43 7) References . .p.71 8) Annual Reports for 2002, 2003 of JP Morgan Chase* *The annual reports can be found at http://www.shareholder.com/jpmorganchase/annual.cfm) 3 Abstract Mergers and acquisitions have become the most frequently used methods of growth for companies in the twenty first century. They present a company with a potentially larger market share and open it u p to a more diversified market. A merger is considered to be successful, if it increases the acquiring firm’s value; m ost mergers have actually been known to benefit both competition and consumers by allowing firms to operate more efficiently. -
Technology Services
CLOUD MANAGED SERVICES AND HOSTING SECTOR REVIEW | Q1 2020 Technology Services IT Services | Q2 2021 TECHNOLOGY, MEDIA & TELECOM PAGE | 0 Select Technology Services | IT Services M&A Transactions a Announced June 3, 2021 Thrive Acquired ONI Managed Services • Thrive, a premier provider of NextGen managed services, acquired ONI, a leading U.K. cloud, hybrid-managed IT, Cisco Gold Partner, data-center services company. • ONI will expand Thrive’s geographic footprint, both domestically and internationally, as well as enhancing the company’s Cisco WAN, unified communication and cloud expertise. FireEye Announces Sale of FireEye Products Business to Symphony Technology Group for $1.2 Billionb Managed Security & Announced June 2, 2021 Consulting • The transaction separates FireEye’s network, email, endpoint, and cloud security products, along with the related security management and orchestration platform, from Mandiant’s controls-agnostic software and services. • For FireEye products, this means “strengthened channel relationships” with managed security service providers (MSSP) based on integration alliances with complementary cybersecurity product vendors. c Announced June 1, 2021 Cerberus Capital Acquired Red River Technology from Acacia Partners Federal Managed Services • Red River Technology is a leading provider of technology solutions and managed services with mission-critical expertise in security, networking, data center, collaboration, mobility, and cloud applications. • Through the partnership with Cerberus, Red River will continue to grow services to federal government agencies, SLED, and commercial businesses. Gryphon Investors Combines Three ServiceNow Businesses to Form Stand-alone Platformd Announced May 27, 2021 Application Partner • Gryphon acquired a majority stake in the ServiceNow division of Highmetric from the Acacia Group, and simultaneously acquired Fishbone Analytics Inc. -
ARKANSAS TEACHER RETIREMENT SYSTEM August 3, 2021 1400 West Third Street BOARD ROOM Little Rock, AR 72201 Board of Trustees
ARKANSAS TEACHER RETIREMENT SYSTEM August 3, 2021 1400 West Third Street BOARD ROOM Little Rock, AR 72201 Board of Trustees - Called Meeting Meeting 4:15 p.m. Trustees Danny Knight, Chair Lloyd Black, Vice Chair Anita Bell Kathy Clayton Kelly Davis Dr. Mike Hernandez Shawn Higginbotham Michael Johnson Bobby G. Lester Chip Martin Ex Officio Trustees Susannah Marshall, State Bank Commissioner Johnny Key, Education Secretary Honorable Andrea Lea, State Auditor Honorable Dennis Milligan, State Treasurer AGENDA ARKANSAS TEACHER RETIREMENT SYSTEM BOARD OF TRUSTEES - CALLED MEETING August 3, 2021 4:15 p.m. 1400 West Third Street Little Rock, AR 72201 I. *Call to Order/Roll Call. page 1. II. *Motion for Excused Absences. III. *Adoption of Agenda. page 2. IV. Executive Summary. (Attachment No. 1) page 3. V. Investment Committee Report. Chip Martin, Investment Vice Chair A. *Recommendation to Transfer Investment in ISQ Global Infrastructure Fund III, L.P. to ISQ Global Infrastructure Fund III (UST), L.P. with Imminent Need. (Attachment No. 2) page 5. 1. *Resolution 2021-30. page 7. VI. Other Business. VII. *Adjourn. * Action Item 2021-07-31 08:40:04.680477 2 EXECUTIVE SUMMARY TO: Board of Trustees FROM: ATRS Staff RE: Executive Summary DATE: August 3, 2021 V. Investment Committee Report. Chip Martin, Vice Chair A. Recommendation to Transfer Investment in ISQ Global Infrastructure Fund III, L.P. to ISQ Global Infrastructure Fund III (UST), L.P. with Imminent Need. The ATRS Board of Trustees approved Resolution 2021- 09 authorizing an investment of up to $50 million dollars in ISQ Global Infrastructure Fund III, L.P. -
PEI June2020 PEI300.Pdf
Cover story 20 Private Equity International • June 2020 Cover story Better capitalised than ever Page 22 The Top 10 over the decade Page 24 A decade that changed PE Page 27 LPs share dealmaking burden Page 28 Testing the value creation story Page 30 Investing responsibly Page 32 The state of private credit Page 34 Industry sweet spots Page 36 A liquid asset class Page 38 The PEI 300 by the numbers Page 40 June 2020 • Private Equity International 21 Cover story An industry better capitalised than ever With almost $2trn raised between them in the last five years, this year’s PEI 300 are armed and ready for the post-coronavirus rebuild, writes Isobel Markham nnual fundraising mega-funds ahead of the competition. crisis it’s better to be backed by a pri- figures go some way And Blackstone isn’t the only firm to vate equity firm, particularly and to towards painting a up the ante. The top 10 is around $30 the extent that it is able and prepared picture of just how billion larger than last year’s, the top to support these companies, which of much capital is in the 50 has broken the $1 trillion mark for course we are,” he says. hands of private equi- the first time, and the entire PEI 300 “The businesses that we own at Aty managers, but the ebbs and flows of has amassed $1.988 trillion. That’s the Blackstone that are directly affected the fundraising cycle often leave that same as Italy’s GDP. Firms now need by the pandemic, [such as] Merlin, picture incomplete. -
Chicago Fed Letter: Understanding the New World Order of Private
ESSAYS ON ISSUES THE FEDERAL RESERVE BANK OCTOBER 2010 OF CHICAGO NUMBER 279a ChicagoFedLetter Understanding the new world order of private equity by William Mark, lead examiner, Supervision and Regulation, and head, Private Equity Merchant Banking Knowledge Center, and Steven VanBever, lead supervision analyst, Supervision and Regulation The Federal Reserve System’s Private Equity Merchant Banking Knowledge Center, formed at the Chicago Fed in 2000 after the passage of the Gramm–Leach–Bliley Act, sponsors an annual conference on new industry developments. This article summarizes the tenth annual conference, The New World Order of Private Equity, held on July 21–22, 2010. Tokickofftheconference,1Carl lossofcompetitivenessoverthelong Tannenbaum,FederalReserveBank termfortheU.S.andotherdeveloped ofChicago,reflectedbrieflyonthe economiesrelativetoChinaandother decadesincethepassageoftheGramm– emergingcountries.Hutchinsciteda Leach–BlileyAct.Theseyearssawexten- numberofnegativeindicatorsintheU.S., sivefinancialinnovation,alongwiththe suchasrisinghealthcareandenergy removalofregulatorybarriersthat costs,thetradedeficit,governmental traditionallyseparatedtheactivities budgetdeficits,lossofleadershipintech- ofcommercialandinvestmentbanks. nologicalinnovation,laggingeducational Thefinancialcrisispromptedareeval- systems,andpoliticalpolarization. By a number of measures, uationofmanyviewsthathadbeen the state of private equity widelyheld,culminatinginPresident State of the industry has improved since the worst ObamasigningtheDodd–FrankWall ApanelledbyMarkO’Hare,Preqin of the financial crisis, but StreetReformandConsumerProtection Ltd.,exploredtheevolvingroleofpri- ActonJuly21,2010(bycoincidence, vateequity(PE)intheeconomyand many features of the asset thefirstdayoftheconference). ininvestorportfolios.ItfeaturedPaul class have been altered. -
Private Placement Activity Chris Hastings | [email protected] | 917-621-3750 8/7/2017 – 8/11/2017 (Transactions in Excess of $15 Million) Commentary
Private Placement Activity Chris Hastings | [email protected] | 917-621-3750 8/7/2017 – 8/11/2017 (Transactions in excess of $15 million) Commentary . Iconectiv, a developer of telecommunications software and interconnection technology, raised $200 million — Francisco Partners led the deal. Information Resources, a provider of consulting and advisory services, raised $100 million. Investors include New Mountain Capital and Silver Canyon Group. Appboy, a developer of a life-cycle engagement platform, raised $50 million in Series D funding at a $350 million pre-money valuation — ICONIQ Capital led the round. Oryx Vision, a developer of next-generation automotive LiDAR technology, raised $50 million in Series B funding — Third Point Ventures and WRV led the round. Chef’d, a provider of an online food sales and delivery service, raised $35 million in Series B funding. Amplitude, a provider of a mobile and web-based analytics platform, raised $30 million in Series C funding — IVP led the round. Signals Analytics, a developer of an insights as a service augmented intelligence platform, raised $25 million in Series C funding — Pitango Venture Capital led the round. InContext Solutions, a developer of 3D virtual simulation technology, raised $22 million in Series F funding — Beringea and Intel Capital led the round. Stratford School, a provider of academic programs, raised $21 million. Investors include Warburg Pincus. Guideline, a provider of automated investment technology, raised $15 million in Series B funding at a $70 million pre-money valuation — Felicis Ventures led the round. Company Company Amount Date Investors Series Company Description / Comments Name Location Raised ($M) Information Technology Developer of telecommunications software and interconnection technology. -
BP Energy Partners to Sell Pinnacle Midstream Gathering and Processing System in the Delaware Basin of West Texas to I Squared C
BP Energy Partners to sell Pinnacle Midstream gathering and processing system in the Delaware Basin of West Texas to I Squared Capital October 24, 2017 05:00 AM Eastern Daylight Time DALLAS & NEW YORK--(BUSINESS WIRE)--BP Energy Partners, LLC (“BPEP”) and I Squared Capital are pleased to announce they have entered into a definitive agreement by which BPEP will sell Pinnacle Midstream, LLC (“Pinnacle”), a portfolio company of BPEP, to I Squared Capital through its ISQ Global Infrastructure Fund II. Pinnacle is a strategically located provider of crude and natural gas gathering, natural gas processing and related midstream solutions in the Delaware portion of the Permian Basin of West Texas. The newly built infrastructure serves multiple producers in an area with some of the highest rig activity in the United States. Pinnacle’s current management team will continue to run the company as it pursues its growth strategy. The transaction is expected to close following customary regulatory approvals. “We are excited to work with the Pinnacle team to bring I Squared Capital’s operating expertise and capital to the company as it expands its footprint and service offerings to provide additional downstream optionality for producers in the region.” “This transaction is a very important milestone for our team,” said Greg Sargent, Founder and CEO of Pinnacle. “Over the past three years, we have worked hard to create significant value by developing, constructing and bringing into operation a full-service midstream solution in Culberson and Reeves Counties. This asset will serve some of the best producers in the basin and we look forward to working with I Squared Capital to expand the system.” Michael Watzky, Managing Partner at BPEP, said, “We are proud of the success that Greg Sargent and his team achieved at Pinnacle.