DOCSLIB.ORG

SAMPLE REPORT © Jobsearchdigest.Com

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
SAMPLE REPORT © Jobsearchdigest.Com Private Equity & VC Compensation Report Private Equity & VC Compensation Report SAMPLE REPORT © JobSearchDigest.com www.PrivateEquityCompensation.com © PrivateEquityCompensation.com You may not forward, copy or reproduce this content in any format. CONTENTS © PrivateEquityCompensation.com – SAMPLE REPORT You may not forward, copy or reproduce this content in any format. Private Equity & Venture Capital Compensation Report Page 1 Introduction For 12 years now, we have gone to the source to track private equity and venture capital compensation – professionals inside the industry. While we have previously seen significant swings in compensation, we recently have documented greater stability and predictability in industry compensation, even as market and fund performance varies. This year's report includes actual data from hundreds of partners and employees representing several hundred private equity and venture capital firms. We polled respondents in October and November 2018, and dug deep to learn about a variety of factors that could affect pay. The 2019 Private Equity and Venture Capital Compensation Report summarizes our findings and answers questions such as: • What are the compensation levels and ranges by title? • How does fund size and performance affect pay? • What is the balance between base salaries and bonus payouts? • How are bonuses calculated and when are they paid out? • Which titles earn the most and how has their compensation changed? • Who is sharing in carry and at what levels? • What are the primary drivers of carry participation? The report also seeks to understand how private equity and venture capital professionals perceive their work, their pay and their job security. Where possible, we offer insights from the industry and our experience. However the focus of this report is data collected directly from private equity and venture capital professionals. Our report is a time-tested compensation benchmark that is affordable, comprehensive, and reliable. We expect you will find it valuable, whether you are negotiating your compensation package, setting goals for your professional development, or establishing targets for your firm's compensation policies. © PrivateEquityCompensation.com – SAMPLE REPORT You may not forward, copy or reproduce this content in any format. Private Equity & Venture Capital Compensation Report Page 2 List of Figures Figure 1: 2017 Levels of Earnings Figure 2: 2018 Levels of Earnings Figure 3: 2017 Base vs. Bonus Pay Figure 4: 2018 Base vs. Bonus Pay Figure 5: Year over Year Change in Cash Earnings Figure 6: Compensation Change by Title Figure 7: Guaranteed Bonus Percentage Figure 8: Method of Bonus Size by Bonus Calculation Figure 9: Bonus Criteria Figure 10: Number of Bonus Payouts per Year Figure 11: Months When Bonuses Are Paid Out Figure 12: Cash Compensation Mean, Median and Ranges by Title Figure 13: Size of Group and Firm Figure 14: Compensation by Firm Size (Employees) Figure 15: Type of Firm Figure 16: Organizational Structure of the Firm Figure 17: Compensation Differences between Firm Type by Job Title Figure 18: Change in Pay by Firm Type Figure 19: Fund Performance Ranges Figure 20: Bonus Level by Fund Performance Figure 21: Most Common Investment Strategies Figure 22: Size of Most Recent Fund Figure 23: Average Compensation by Fund Size Figure 24: Base Compensation Change by Fund Size Figure 25: Change in Bonus Compensation by Fund Size Figure 26: Mean Cash Compensation by Fund Size for Common Roles Figure 27: Base and Bonus by Firm Size (AUM) and Title Figure 28: Hours Worked per Week Figure 29: Compensation by Hours Worked per Week Figure 30: Earnings per Hour by Title Figure 31: Vacation Earned Figure 32: Vacation Taken vs. Earned Figure 33: Job Security Concerns Figure 34: Why Concerned About Job Security © PrivateEquityCompensation.com – SAMPLE REPORT You may not forward, copy or reproduce this content in any format. Private Equity & Venture Capital Compensation Report Page 3 Figure 35: Which Positions Are in the Greatest Demand Figure 36: Work & Personal Life Balance Figure 37: Quality of Firm's Training Program Figure 38: Size of Carried Interest Pool Figure 39: How Carry is Shared Figure 40: Carry Participation by Title Figure 41: Carry Participation by Years of Work Experience Figure 42: Carry Type by Fund Type Figure 43: Executive Level Allocated Carry Percentages Figure 44: Mid-Level Allocated Carry Percentages Figure 45: Lower Level Allocated Carry Percentages Figure 46: MBA Compensation Comparison Figure 47: Years of Work vs. Private Equity Industry Experience Figure 48: Sources of Private Equity Jobs Figure 49: Backgrounds of Private Equity Professionals Figure 50: Reasons for Dissatisfaction with Compensation Figure 51: Who is Happiest with Compensation © PrivateEquityCompensation.com – SAMPLE REPORT You may not forward, copy or reproduce this content in any format. Private Equity & Venture Capital Compensation Report Page 4 Executive Summary In this, our twelfth annual Private Equity & Venture Capital Compensation Report, we look to that past to better confront the challenges of the future. The goal of this report is to identify industry compensation trends and provide insights into their effect on compensation practices, recruitment and retention. This year marks the fifth straight year of compensation gains in the private equity and venture capital industry, with 64 percent of this year’s respondents expecting total compensation levels to increase over last year, while only 5 percent expect to earn less. We have noted several trends in this year’s compensation report, one of which is increasing base salaries and declining bonuses as a percentage of overall compensation for private equity and venture capital professionals in the highest pay band. This year’s report confirms the continuation of another unsettling trend—the diminishing correlation between bonus pay and firm performance. For example, we see that respondents employed in firms where fund performance is down by 1 to 9 percent still forecast an average bonus of $114,000. Seeds of this trend surfaced in 2014, sprouted in 2015, grew in 2016 and matured in 2018. In-house training continues to receive unfavorable reviews, despite last year’s movement in a positive direction. Why the industry ignores the potential benefits of robust in-house training programs remains a mystery, particularly in the competitive job market that exists today. Quality internal training programs have the potential to attract and retain talent, but statistics show this potential is broadly ignored, as a mere 17 percent of this year’s respondents rate their in- house training as good to excellent. Higher MBA base salary, bonus compensation, and vacation time as compared to their non-MBA peers has been a regular feature of this report since its inception. This year, we can once again, confirm the monetary value of an advanced degree. © PrivateEquityCompensation.com – SAMPLE REPORT You may not forward, copy or reproduce this content in any format. Private Equity & Venture Capital Compensation Report Page 5 Job seekers will appreciate the section of this report devoted to identifying which positions are in demand, what percentage of firms are hiring, and what percentage are cutting back. For example, 54 percent of respondents’ firms are hiring investment personnel, while only 1 percent are cutting back in information technology hires. The 2019 Private Equity and Venture Capital Compensation Report serves as myth- buster and forecaster, debunking misconceptions, and providing readers insightful, industry-specific information regarding the complex subject of compensation. Other highlights from this year's report include: • Respondents working in firms with less than $100 million in assets under management (AUM) earn more than 10 percent less than peers in firms with $1 billion or more; • Three quarters of professionals do not receive a bonus guarantee; • The least-favored investment strategy is PIPE; • Bonus pay totals 44 percent of all compensation paid to industry professionals; and • It's been a good year with half of respondents work in firms with fund gains of 10 to 24 percent. © PrivateEquityCompensation.com – SAMPLE REPORT You may not forward, copy or reproduce this content in any format. Private Equity & Venture Capital Compensation Report Page 6 Methodology We surveyed hundreds of partners, principals and employees during October and November 2018 to benchmark compensation practices. Respondents represented firms from around the globe, with a strong concentration in North America. Included are some of the largest and most recognized private equity and venture capital firms and the small, boutique firms that make up most of the industry. A sample of some of the participating firms includes (listed with participant permission): 2nd Generation Capital Greycroft Oak Lane Partners Abbott Labs H.I.G. Capital Octopus Ventures Adams Street Partners Hamilton Lane Pfingsten Partners Alpha Capital Partners Industries & Finances Providence Energy Aquiline Capital Partners Partenaires Prudential Capital Group Ardian International Finance Quilvest Private Equity Arsenal Growth Corporation Route 66 Ventures Audax Group Investissement Quebec Safeguard Scientifics Barings Irving Place Capital SEI BDMI JP Morgan Servco Pacific Capital Ben Franklin Technology Lone Star Funds Spring Lane Capital Partners M-Ventures TeleSoft Partners Black Toro Capital M12 TPG Blackford Capital Macquarie The Riverside Company Caixa Capital Risc MedCare
Load more

Recommended publications
  • The Bay Area Innovation System How the San Francisco Bay Area Became the World’S Leading Innovation Hub and What Will Be Necessary to Secure Its Future
    The Bay Area Innovation System How the San Francisco Bay Area Became the World’s Leading Innovation Hub and What Will Be Necessary to Secure Its Future A Bay Area Science & Innovation Consortium Report produced by the Bay Area Council Economic Institute Principal Author Sean Randolph President & CEO Bay Area Council Economic Institute Contributing Author Olaf Groth CEO Emergent Frontiers Group LLC June 2012 Message from the BASIC Chairman For more than 50 years, the Bay Area has been a leading center for science and innovation and a global marketplace for the exchange of ideas, delivering extraordinary value for California, the nation and the world. Its success has been based on a unique confluence of research institutions, corporations, finance and people, in a culture that is open to the sharing of new ideas and willing to take significant risk to achieve extraordinary reward. The Bay Area innovation system is also highly integrated, with components that closely interact with and depend upon each other. The Bay Area Science and Innovation Consortium (BASIC), a partnership of the Bay Area’s leading public and private research organizations, has pre- pared this report to illustrate how the Bay Area’s innovation system works and to identify the issues that may impact its future success. Ensuring that success will require partnership between the public and private sectors, continued investment in the region’s core assets, and attention by state and federal policy makers. Mark Bregman Senior Vice President and CTO, Neustar, Inc. Chairman, BASIC Acknowledgements This report was prepared for the Bay Area Science & Innovation Consortium (BASIC) by the Bay Area Council Economic Institute.
    [Show full text]
  • PDF: 300 Pages, 5.2 MB
    The Bay Area Council Economic Institute wishes to thank the sponsors of this report, whose support was critical to its production: The Economic Institute also wishes to acknowledge the valuable project support provided in India by: The Bay Area Council Economic Institute wishes to thank the sponsors of this report, whose support was critical to its production: The Economic Institute also wishes to acknowledge the valuable project support provided in India by: Global Reach Emerging Ties Between the San Francisco Bay Area and India A Bay Area Council Economic Institute Report by R. Sean Randolph President & CEO Bay Area Council Economic Institute and Niels Erich Global Business/Transportation Consulting November 2009 Bay Area Council Economic Institute 201 California Street, Suite 1450 San Francisco, CA 94111 (415) 981-7117 (415) 981-6408 Fax [email protected] www.bayareaeconomy.org Rangoli Designs Note The geometric drawings used in the pages of this report, as decorations at the beginnings of paragraphs and repeated in side panels, are grayscale examples of rangoli, an Indian folk art. Traditional rangoli designs are often created on the ground in front of the entrances to homes, using finely ground powders in vivid colors. This ancient art form is believed to have originated from the Indian state of Maharashtra, and it is known by different names, such as kolam or aripana, in other states. Rangoli de- signs are considered to be symbols of good luck and welcome, and are created, usually by women, for special occasions such as festivals (espe- cially Diwali), marriages, and birth ceremonies. Cover Note The cover photo collage depicts the view through a “doorway” defined by the section of a carved doorframe from a Hindu temple that appears on the left.
    [Show full text]
  • 2008 New Media M&A Round-Up
    2008 New Media M&A Round‐Up The Year in Digital Media Mergers, Acquisitions & Capital Raises PEACHTREE MEDIA ADVISORS, INC. N EW M EDIA I NVESTMENT B ANKING EACHTREE EDIA DVISORS NC P M A , I . Better Service ▪ Lower Fees New Media Mergers & Acquisitions TABLE OF CONTENTS I. Internet/New Media M&A Transactions by Sector 1 II. M&A Transactions & Capital Raised in 2008 12 III. 2008 Interactive Media Valuations/Comps 31 IV. Conclusion/2009 Outlook 37 V. Out‐of‐Home/Alternative M&A Transactions 38 VI. Conclusion/2009 Outlook 38 VII. 2008 OOH Valuations/Comps 41 Peachtree Media Advisors, Inc. Peachtree Media Advisors, Inc. is a New York based investment bank serving the out‐of‐ home and interactive marketing sectors of media. The company provides mergers, acquisitions and capital raise advisory services to lower middle‐market companies in the two fastest growing sectors of media. John Doyle, Managing Director & Founder, has been a media investment banker for more than 12 years; closed and structured more than 22 deals; and has a strong knowledge‐base of financial and strategic buyers in these sectors. If you are interested in learning more about valuation, positioning, preparation or the merger and acquisition process, please go to www.PeachtreeMediaAdvisors.com or contact John Doyle at (212) 570‐1009. John H. Doyle II Managing Director & Founder Peachtree Media Advisors, Inc. 50 Vanderbilt Ave., #30 New York, NY 10017 PH. 212.570.1009 ▪ FAX 646.607.1786 www.peachtreemediaadvisors.com Table of Contents Better Service ▪ Lower Fees New Media Mergers & Acquisitions Online Media M&A Activity in 2008 Although the Enabling, Analytics and Ad Serving category had the fourth highest In 2008, there were 707 merger, acquisition level of reported transaction value in 2008, and capital raise transactions in the online this category had the largest percentage sector of media (92 more transactions than increase in capital flowing to it than any the 615 in 2007).
    [Show full text]
  • The 2008 Preqin Private Equity Performance Monitor - Sample Pages
    Sample Pages The 2008 Preqin Private Equity Performance Monitor - Sample Pages © 2008 Private Equity Intelligence Ltd 1 Sample Pages A Guide to the Performance of Private Equity Fund Managers © 2008 Private Equity Intelligence Ltd 2 Sample Pages Contents 1. Executive Summary 7 Fund of Funds 41 - DPI, RVPI and TVPI 2. Methodology 13 - Median Net IRR and Quartile Ranking - Fund Selection Performance 3. Overall Performance of Private Equity 19 - Relationship between Successor and Predecessor Fund - Fund Universe Mezzanine 45 - DPI, RVPI and TVPI - DPI, RVPI and TVPI - Median IRRs, Money Weighted IRRs and Pooled IRRs - Median Net IRR and Quartile Ranking - Performance by Geographic Region - Quartile Ranking by Fund Number - Relationship between Predecessor and Successor Fund Quartile Real Estate 49 - Experience Effect - DPI, RVPI and TVPI - Median Net IRR and Quartile Ranking 4. Performance by Fund Type 29 - Relationship between Successor and Predecessor Fund Buyout 31 Secondaries 53 - DPI, RVPI and TVPI - DPI, RVPI and TVPI - Median Net IRR and Quartile Ranking - Median IRR - Median, Weighted and Pooled IRRs Venture 55 - North American vs. European Buyout Funds - DPI, RVPI and TVPI - Large and Mega Buyout Funds - Median Net IRR and Quartile Ranking - Buyout Cash Flow Analysis - Median, Weighted and Pooled IRRs - Buyout Net Cash Flow by Vintage Year - Performance of Early Stage Funds - Performance at Different Points in Time - Performance of Industry Focused Funds - Relationship between Successor and Predecessor Fund Quartile - Venture Cash Flow Analysis Distressed Debt & Special Situations 39 - Venture Cash Flow by Vintage - DPI, RVPI and TVPI - Performance at Different Points in Time - Median IRR - Relationship between Successor and Predecessor Fund Quartile © 2008 Private Equity Intelligence Ltd 3 Sample Pages 5.
    [Show full text]
  • The Impact of Internet Copyright Regulations on Early-Stage
    Briefing Matthew Le Merle Raju Sarma Tashfeen Ahmed Christopher Pencavel The Impact of U.S. Internet Copyright Regulations on Early-Stage Investment A Quantitative Study PREFACE The world has benefited enormously from an impressive level of growth and innovation over the past several decades. Since the beginning of the Internet age, a mere two decades ago, society has grown to expect accelerating growth in technology and innovation. Thanks in part to this rapid rate of change, lawmakers have relied heavily on self-regulation rather than government enforcement and compliance as a means of controlling the growth of the Internet. As we move into a new era of Internet growth fueled by new and emerging technologies—including widespread broadband access, cloud computing, social media, and mobile connectivity—it will be increasingly important to understand the potential effects of regulatory changes. One area of Internet regulation currently being debated is digital copyright. To keep up with new methods of distributing content, regulators are now evaluating several potential changes to current copyright law that could have a large impact not only on content providers and distributors but also on how users themselves interact with content. Our research goal: to understand how future regulatory changes might affect the level of early-stage investment in young companies acting as intermediaries for digital content. New startup companies have long been an important driver of innovation and economic growth in the U.S., and few of them would have grown to maturity without the early-stage financing that allowed them to bring their ideas to the marketplace.
    [Show full text]
  • A Pilot Study on Technology Based Start-Ups
    A PILOT STUDY ON TECHNOLOGY BASED START-UPS Centre for International Trade in Technology Indian Institute of Foreign Trade Supported by Department of Scientific & Industrial Research Government of India NEW DELHI August, 2007 TABLE OF CONTENTS Page Executive Summary i-xii Chapter I Introduction 1-8 1.0 Background 1 1.1 Objective of the Study 3 1.2 Scope of the Study 3 1.3 Methodology 5 Chapter 2 Review of Literature 9-29 2.0 Technology Based Start ups 9 2.1 Studies 11 2.2 Issues coming out of literature survey 19 2.3 Technology Innovation 21 2.4 Venture Capital 22 2.5 India a Major Player in Global Start - Ups 22 2.6 Status of Venture Capital in India 23 2.7 VC players 24 2.8 Brief details of few Indian VC companies 25 2.9 Some Observations 28 Chapter 3 Data Analysis 30-58 3.0 Survey and collection of data 30 3.1 Parameters for data analysis 30 3.2 Company Profile 31 3.3 Analysis of Traditional start-ups companies 32 3.4 Analysis of Technology start-ups companies 43 3.5 Aggregate characteristics of all start-up companies 52 Chapter 4 Findings & Recommendations 59-65 References 65 Appendices 66-135 Appendix-I Company Profile- Sector and Year wise 66-76 Appendix-II Comparison between the Traditional Vs Technology start-ups 77-85 Appendix-III Questionnaire-I (Technology Start-ups) 86-87 Appendix-IV Questionnaire-II (Traditional Start-ups) 88-93 Appendix-V List of 82 Traditional Start ups companies 94-102 Appendix-VI List of 33 Technology Start ups companies 103-108 Appendix-VII List of Venture Capital companies approached 109-125 Appendix-VIII List of successful companies out of GVFL’s portfolio 126-127 Appendix-IX List of SIDBI Venture Capital portfolio 128-131 Appendix-X List of ICICI Venture portfolio 132-133 Appendix-XI List of Infinity Venture Capital portfolio 134-135 Executive Summary Executive Summary Introduction Start-ups have played and continue to play significant roles in the growth, development and industrialization of many economies the world over.
    [Show full text]
  • Biotechnology Startups Research Report
    GLOBAL BUSINESS CONFIDENCE REPORT 4th Qtr. 2019 B IOTECH NOLOGY STARTUPS RESEARCH REPORT 4th Quarter 2019 www.tradecouncil.org www.qibcertification.org International Trade Council www.tradecouncil.org www.goglobalawards.org Page 1 MARKET OVERVIEW REPORT FOR ENTERPRISE ESTONIA Table of Contents Overview ........................................................................................................................................................................... 3 Industry Definition .......................................................................................................................................................................................... 3 Sectoral Definitions ........................................................................................................................................................................................ 3 Main Activities .................................................................................................................................................................................................. 4 Associated Industries ..................................................................................................................................................................................... 4 Industry at a Glance ......................................................................................................................................................... 5 Industry Overview ..........................................................................................................................................................................................
    [Show full text]
  • Communications Infrastructure Sector Report
    COMMUNICATIONS INFRASTRUCTURE SECTOR REPORT SAVVIAN, LLC 150 CALIFORNIA STREET, SAN FRANCISCO, CA 94111 | www.savvian.com | 415.318.3600 MARKET HIGHLIGHTS Inside this issue MARKETMARKET HIGHLIGHTSHIGHLIGHTS Public market deal activity was light in Q3 2007 consisting only of Airvana’s $58MM IPO and Airspan Networks’ Market Highlights $30MM secondary offering Airvana is down 14% since pricing its IPO while Airspan has gained 25% since completing its secondary Summary Performance IPOs in 2007 have generally enjoyed positive after-market performance, with Infinera, Shoretel and Starent Observations seeing stock price gains of 55%, 36% and 76% respectively; Veraz is down 12% since pricing Trading Data During this past quarter Savvian's wireless infrastructure and wireline / data networking indices were up 19% and 16% respectively, outperforming the Nasdaq (up 3% during Q3); our integrated wireline / wireless index Transaction Activity declined 14% in the quarter Savvian Update Nokia’s purchase of NAVTEQ for $8.0Bn and Bain Capital / Huawei Technologies’ $2.2Bn acquisition of 3Com represented the two largest M&A transactions announced during Q3 Q3 saw over 25 communications infrastructure M&A deals announced, representing more than $13Bn in value Over the same timeframe, our coverage universe has seen 50 companies raise roughly $650MM in the private capital markets, suggesting ongoing receptivity to the broader communications infrastructure market by venture investors, private equity players and buyout firms (1) San Francisco Office
    [Show full text]
  • The Automotive Lidar Market April 2018 Market and Technology Overview Market Map LIDAR for AUTOMOTIVE: POTENTIAL OEM
    The Automotive LiDAR Market April 2018 Market and Technology Overview Market Map LIDAR FOR AUTOMOTIVE: POTENTIAL OEM Russia Europe Japan Europe Korea USA USA China China Robotic cars ADAS (Advanced Driver Assistance Systems) 4 AUTOMOTIVE LiDAR MANUFACTURERS Europe China Canada Japan Israel USA Australia 5 POTENTIAL AUTOMOTIVE LIDAR MANUFACTURERS (STEALTH MODE) Europe Korea Japan USA 6 ILLUMINATION SOURCE PLAYERS Europe Japan USA Korea EEL: Edge Emitting Laser VCSEL: Vertical Cavity Surface-Emitting Laser 7 PHOTODETECTOR PLAYERS Europe Japan USA Photodiodes and Avalanche Photodiodes Single Photon Avalanche Photodiodes and Silicon Photomultipliers 8 Technology Overview LiDAR PRINCIPLE AND COMPONENTS The basic working principle of the LiDAR is very simple. A light source illuminates a scene. The light scattered by the objects of the scene is detected by a photodetector. Measuring the time it takes for the light to travel to the object and back from it, allows to know its distance. Scene under exposure Light scanner Laser beam Optics or Light source Light diffuser Computing unit 3D point cloud Optics Photodetector Signal processor distance = time x velocity of light LiDAR system 10 AUTOMOTIVE LiDAR ECOSYSTEM Photodetectors LiDAR systems Laser sources PD/APD SPAD/SiPM Active players EEL VCSEL R&D players IC Optical elements FPGA ADC MEMS Optical filters Amplifier Optical systems ADC: Analog Digital Converter IC: Integrated Circuit SPAD: Single-Photon Avalanche Diode APD: Avalanche Photodiode MEMS: Micro-Electro-Mechanical System VCSEL: Vertical Cavity Surface-Emitting Laser EEL: Edge-Emitting Laser PD: Photodiode FPGA: Field-Programmable Gate Array SiPM: Silicon Photomultiplier 11 TAXONOMY OF LiDAR TECHNIQUES LiDAR 1D 2D/3D (scanning of light source) Scanning Non scanning Non Structured Multi Mechanical Flash LiDAR mechanical light cameras Optical phased Stereo vision Non-MEMS MEMS array Macro- mechanical Electro-optical Not under development for scanning automotive applications.
    [Show full text]
  • For Personal Use Only Use Personal for Aconex Limited — Prospectus
    Aconex Limited ABN 49 091 376 091 Initial Public Offering Prospectus Joint Lead Managers For personal use only Aconex Limited — Prospectus Important Notices Offer considered in light of your personal circumstances. The Offer contained in this Prospectus is an invitation by Aconex Limited No person named in this Prospectus, nor any other person, guarantees the ABN 49 091 376 091 (Aconex or Company) and Aconex SaleCo Limited ACN performance of the Company, the repayment of capital or the payment of 602 035 852 (SaleCo) for you to apply for fully paid ordinary shares (Shares) a return on the Shares. No person is authorised to give any information in Aconex. or make any representation in connection with the Offer which is not This Prospectus is issued by the Company and SaleCo. contained in this Prospectus. Any information or representation not so contained may not be relied on as having been authorised by the Company Vote to approve the Offer or SaleCo. Completion of the Offer is conditional on the approval of Existing As set out in Section 7, it is expected that the Shares will be quoted on Shareholders at an extraordinary general meeting scheduled to be held on the ASX initially on a deferred settlement basis. The Company, SaleCo and 5 December 2014. If the Offer is not approved by the Existing Shareholders, the Joint Lead Managers each disclaim all liability, whether in negligence the Offer will not proceed. or otherwise, to persons who trade Shares before receiving their holding statement. Conversion As at the Prospectus Date, the Company has on issue the Existing Shares, No offering where offering would be illegal comprising Class A Preference Shares, Convertible Preference Shares and This Prospectus does not constitute an offer or invitation in any place in ordinary Shares.
    [Show full text]
  • Preqin Private Equity Benchmarks: Venture Capital Benchmark Report
    Preqin Private Equity Benchmarks: Venture Capital Benchmark Report As of 31st December 2013 alternative assets. intelligent data. Preqin Private Equity Benchmarks: Venture Capital Benchmark Report As of 31st December 2013 Report Produced on 21st July 2014 This publication is not included in the CLA Licence so you must not copy any portion of it without the permission of the publisher. All rights reserved. The entire contents of the report are the Copyright of Preqin Ltd. No part of this publication or any information contained in it may be copied, transmitted by any electronic means, or stored in any electronic or other data storage medium, or printed or published in any document, report or publication, without the express prior written approval of Preqin Ltd. The information presented in the report is for information purposes only and does not constitute and should not be construed as a solicitation or other offer, or recommendation to acquire or dispose of any investment or to engage in any other transaction, or as advice of any nature whatsoever. If the reader seeks advice rather than information then he should seek an independent fi nancial advisor and hereby agrees that he will not hold Preqin Ltd. responsible in law or equity for any decisions of whatever nature the reader makes or refrains from making following its use of the report. While reasonable efforts have been used to obtain information from sources that are believed to be accurate, and to confi rm the accuracy of such information wherever possible, Preqin Ltd. Does not make any representation or warranty that the information or opinions contained in the report are accurate, reliable, up-to-date or complete.
    [Show full text]
  • Transportation and Infrastructure for the 21St Century
    Transportation and Infrastructure for the 21st Century National Summit, February 26-27, 2014 IN ALPHABETICAL ORDER As of February 14, 2014 Joseph Aiello has been a leader in the development of large scale infrastructure and real estate projects and a senior executive in business operations and development. Mr. Aiello, Board Member and Investment Committee member at Meridiam Infrastructure Managers has led the activities of Meridiam Infrastructure North America since 2007. Meridiam is an equity investor, developer and asset manager of Public Private Partnerships and has emerged as one of the global leaders in its markets. The firm’s equity investments have leveraged more than $35 billion of new infrastructure investment of which more than $8 billion are in North America. Partner Meridiam Infrastructure Managers As CEO of Alden Computer Transport Systems (ACTS), William Alden used a total systems approach to successfully debug USPO’s MailFlo System in Detroit. Alden Self-Transit Systems Co. designed, patented and prototyped a Personal Rapid Transit. ACTS is now offering small, autonomous, electric vehicle transportation systems for airports and other campuses/complexes. CEO Alden Computer Transport Systems Laura Alfaro is the Warren Alpert Professor of Business Administration. Professor Alfaro is the author of multiple articles published in leading academic journals, and of Harvard Business School cases related to the field of international economics and in particular international capital flows, foreign direct investment and sovereign debt. Her latest research has focused on the role local institutions play in attracting capital flows and allowing positive benefits of such flows, in particular foreign direct investment (FDI), to materialize.
    [Show full text]