DOCSLIB.ORG

U2705 SR US B 2012 Layout 1 26/04/2012 16:27 Page 2

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
U2705 SR US B 2012 Layout 1 26/04/2012 16:27 Page 2 SR USA COVER 2012_Layout 1 26/04/2012 16:10 Page 1 Save up toBook $1100 by Free for May 4 & Foundations, Endowments, 170+ LPs Pension Funds, ILPA Attended In Members & SWFs 5th Annual 2011! Email: [email protected] Park Plaza Hotel, Boston, M.A. to apply Investor Summit: June 5, 2012 Main Conference: www.superreturnus.com June 6-8, 2012 Leading U.S. Private Equity & Venture Capital Forum Maximizing Fundraising Success, Generating Alpha & Driving Returns Across PE & VC Strategies Hear From 100+ LPs Including: INVESTOR SUMMIT 170+ PLUS Tuesday June 5, 2012 Outstanding Speakers Robeco • Hauser Capital Markets • Abbott Capital 100+ LPs & FoFs Management • Allstate Investments • Rockefeller Financial • Des Jardins • Capvent • The Guardian Life • Ontario Teachers' Pension • Performance Equity Plan Management Insurance Company of America • Caisse des Dépôts • The Boston Foundation • Asia Alternatives et Consignations • Northsea Capital • Caisse des • Alberta Teachers' Management Dépôt et Placement du Québec • Quilvest • Meketa Retirement Fund (ATRF) • HarbourVest Partners • Howard Hughes Medical • Credit Suisse Customized Investment Group • Cardano • James Irvine Institute Fund Investment Group Foundation • Congress Asset Management • Fifth • Vanderbilt University • Swiss Re America Holding • The University of Texas Corporation Steve LeBlanc Larry Schloss Dale Marie Hunt Jane Rowe Third Bancorp • Sarr Group • Palisades Hudson Investment Management • Allianz Capital Partners Managing Director of Deputy Comptroller for Managing Director, Senior Vice President, Asset Management • Altius Associates • AR Company (UTIMCO) • Hauser Capital Markets Private Markets Pensions, CIO Equities Teachers' Private Capital Investment Partners • 747 Capital • Mercer • Catholic Healthcare • RCP Advisors TEACHER RETIREMENT NEW YORK CITY CATHOLIC HEALTHCARE ONTARIO TEACHERS’ Investment Management • Pantheon Investment Management • Lee Equity Partners Company • Siguler Guff & Company SYSTEM OF TEXAS COMPTROLLERS OFFICE INVESTMENT PENSION PLAN • Dartmouth College • Invesco Private Capital MANAGEMENT COMPANY Investment Office • AlpInvest • Commonwealth Fund • Makena Capital • Auda Private Equity Management DISTRESSED INVESTING • Hermes GPE • Kuramo Capital • Caisse de Dépôt et • Blackrock Private Equity SUMMIT Placement du Québec Partners PLUS Tuesday June 5, 2012 • Teacher Retirement • W Capital Partners System of Texas • Landmark Partners Marlin Equity Partners • MatlinPatterson Global • John Hancock • Pinebridge Investments • Hirtle Callaghan • Investure Advisors • Sun Capital Partners • Debtwire North • Morgan Stanley Alternative • Saints Capital America • Babson Capital Management • Feri Trust • Investment Partners • Knightsbridge Advisers Blackrock Private Equity Partners • TorreyCove • Palisades Hudson Asset • Vanterra Capital Management • Top Tier Capital Partners Nadim Barakat David Turner Mike Sullivan George Wilson Capital Partners • Acanthus Advisors • Tenex Capital • TIAA-CREF • Lexington Partners Managing Director & CIO Managing Director, Managing Director CIO Management • Sarr Group • Palisades Hudson Asset • Brookfield • Access Capital Partners Management • Altius Associates • AR Investment • The Guardian Life • Abbott Capital CREDIT SUISSE Head of Private Equity DARTMOUTH COLLEGE THE BOSTON Insurance Company of Management CUSTOMIZED FUND THE GUARDIAN LIFE INVESTMENT OFFICE FOUNDATION Partners • 747 Capital • Mercer Investment America • CDC Group INVESTMENT GROUP INSURANCE COMPANY Management • Lee Equity Partners • Caisse des Dépôts et • DuPont Capital OF AMERICA Consignations Management • The Investment Fund For • James Irvine Foundation Foundations (TIFF) • Guggenheim Investment • Meketa Investment Group Advisors • Congress Asset • Rockefeller Financial Brand New Management • Northsea Capital • Cardano • Des Jardins Special Guest • Cigna Investment • Commonfund Capital Management • Quilvest • BIMCOR • Sentry Insurance Speakers: • IFC • NLI International • Covariance Capital • Altius Associates LEADING Management • Northleaf Capital Partners CREDIT GURU • Venture Investment • Prudential Financial ECONOMIST Associates • Metlife Investments • Weathergate Capital • Alcatel Lucent Rakesh Saraf Takeshi Shirasaka D. Brooks Zug Edward Lewis • Babson Capital • Portfolio Advisors Portfolio Manager, Private Head of Private Equity Senior Managing Director Senior Managing Director Management • LGT Capital Partners Investments NLI INTERNATIONAL & Founder, of Alternative Assets, • Squadron Capital • Capvent ALBERTA TEACHERS’ HARBOURVEST CIGNA INVESTMENT • Northwestern Mutual • Eagle Asia Partners Capital • Cendana Capital RETIREMENT FUND (ATRF) PARTNERS MANAGEMENT • Fifth Third Bancorp • Feri Trust • Offit Capital Advisors • Pomona Capital • AR Investment Partners • Unigestion • Robeco • New York City • SL Capital Partners Comptrollers Office Learn From Industry Titans Including: Edward I. Altman David Malpass • ALPHA Associates • AllState Investments NYU STERN SCHOOL ENCIMA GLOBAL • ATP PEP • TorreyCove Capital • 747 Capital Partners OF BUSINESS • Twin Bridge Capital NEW FUNDRAISING Partners THOUGHT-LEADER RESEARCH Industry Leaders: • The Carlyle Group • New Capital Partners • Apollo Global • Prophet Equity Management • MatlinPatterson Global • Blackstone Advisors • Leonard Green & Partners • Providence • Welsh, Carson, Anderson Equity Partners & Stowe • Sun Capital Partners • Bain Capital • Level Equity John J. Suydam David I. Foley Glenn Hutchins Jonathan M. Nelson • First Reserve Corporation • Mohr Davidow Chief Legal & Compliance Senior Managing Director Co-Founder & CEO • Silver Lake • Amala Partners Officer BLACKSTONE Managing Director PROVIDENCE EQUITY Eileen Appelbaum Oliver Gottschalg • HEC Paris • PEAROnline APOLLO GLOBAL SILVER LAKE PARTNERS CENTER FOR HEC PARIS • NYU Stern School of • CCMP Capital Advisors MANAGEMENT Business • AFL-CIO ECONOMIC AND POLICY • Cambridge Associates • Center for Economic and RESEARCH • Triangle Venture Capital Policy Research Group • The Benchmark Co Principal Sponsor: Sponsors: • Encima Global • NEPC Follow us on • Flybridge Capital Partners • Mercer Investment • New Enterprise Associates Management • WestBridge Capital • DebtWire @SuperReturn • CDH Investments • Preqin • The Founders Fund • Probitas Partners • Gávea Investimentos • MVision Private Equity @SuperReturnTV Associate Sponsor: • The Riverside Company Advisers • Shenzhen Co-Win Venture • Acanthus Advisors Capital Investment • Monument Group SuperReturn U.S. • Atlas Venture • BNY Mellon • SK Capital Partners • Permira Advisers • Marlin Equity Partners • Tata Capital SuperReturn Blog Scan with smartphone • Siris Capital Group • Tenex Capital QR Reader App • Friedman Fleischer & Management Lowe • DW Healthcare Partners • Arsenal Capital Partners • Charlesbank Capital ICBI Paper sourced from Elemental • Versa Capital Management Partners sustainable Chlorine Free • Baring Private Equity • BC Partners forests (ECF) Partners India • Lee Equity Partners For latest agenda and to register: www.superreturnus.com Tel: 888.670.8200 (US) or +1 941.554.3500 (Int’l) Fax: +1 941.365.2507 Email: [email protected] U2705 SR US B 2012_Layout 1 26/04/2012 16:27 Page 2 Investor Summit - Tuesday June 5, 2012 Superb Featuring GP/LP Relations & Distressed Investing Additional 8.30 Coffee & Registration Features 8.50 Opening Remarks & Welcome From The Chair 9.00 KEYNOTE ADDRESS Les Brun, Chairman & CEO, SARR GROUP, and Managing Director, Head of Investor Relations, CCMP CAPITAL ADVISORS NEW TRENDS IN ACCESSING PRIVATE EQUITY LP Straight-Talking How Are Directs, Co-investments & Managed Accounts Transforming Private Equity Investing? How Far Are LPs Changing The Way They Access The Asset Class, Is It Sustainable & What Are The Risks? Interview 9.20 Jonathan Bergman, CIO, PALISADES HUDSON ASSET MANAGEMENT Interview with U.S. Thought-Leader Brad Young, Partner and Executive Director, ALTIUS ASSOCIATES Larry Schloss, Deputy Comptroller Amin Al-Rashid, Managing Partner, AR INVESTMENT PARTNERS for Pensions, CIO, NEW YORK CITY Marc J. M. der Kinderen, Managing Partner, 747 CAPITAL COMPTROLLERS OFFICE Tuesday June 5 at 10.30 Your chance to hear a cutting BENCHMARKING PERFORMANCE edge private equity investor’s Q&A 9.50 What Are The Most Useful Variables To Measure, Compare & Contrast Fund Performance? with Joncarlo Mark, How Do LPs Ascertain Generators Of Alpha? UPWELLING CAPITAL Michael Forestner, Partner, MERCER INVESTMENT MANAGEMENT 10.20 KEYNOTE ADDRESS Thomas H. Lee, Founder & President, LEE EQUITY PARTNERS LP/GP Relations Focus THE SUPERRETURN U.S. LP STRAIGHT-TALKING INTERVIEW Hear over 20 global LPs voice 10.40 Larry Schloss, Deputy Comptroller for Pensions, CIO, NEW YORK CITY COMPTROLLERS OFFICE LP their opinion on some of the key Interviewed by: Joncarlo Mark, Founder, UPWELLING CAPITAL GROUP issues they currently face including transparency, consolidation of 11.10 Morning Coffee relationships with GPs, succession planning, allocation strategies and Track A - LP/GP Relations Track B - Distressed Investing trends in terms & conditions. TRANSPARENCY EUROPEAN VS. U.S. DISTRESSED OPPORTUNITIES Information & The Private Equity Industry: How Much Information Is Too What Are The Opportunities For Distressed Investing In Europe Vs. Much? What Level & Nature Of Transparency Is Genuinely Useful For LPs? The U.S. & How Can These Best Be Accessed? How Does This Ewoud van de Sande, Investment Director, ROBECO Compare To Previous Cycles? Distressed 11.40 Janna Laudato, Managing Director,
Load more

Recommended publications
  • Market Intelligence Recent Deals Deal Flow
    34 | BUYOUTS | May 14, 2018 www.buyoutsnews.com MARKET INTELLIGENCE The following charts reflect transactions involving U.S.-based financial sponsors. The categories include seeking buyers, announced deals, closed transactions. The source for the data is Thomson One, a product of Thomson Reuters Markets. Please contact Paul Centopani at [email protected] with questions or comments. DEAL FLOW Seeking Buyers–U.S. Targets (April 14, 2018 - April 29, 2018) MATERIALS Date Target Name Target City Target State Target Full Business Description Target Advisors Synopsis Announced 04/25/18 Martin Marietta - Maryland Beaver Creek aggregates quarry of - US - In April 2018, Martin Marietta Materials Materials-Quar Martin Marietta Materials Inc, located in Inc, a Raleigh-based limestone quarry Western Maryland. operator, announced that it was seeking a buyer for its Beaver Creek aggregates quarry. The transaction was a condition to the completion of the acquisition of Bluegrass Materials Co LLC by Martin Marietta. 04/25/18 Tronox Ltd Kwinana Foreign Tronox Ltd, headquartred in, Kwinana - US - In April 2018, Exxaro Resources Ltd, a Beach Beach, Australia, manufactures pigments. It unit of Main Street 333(Pty)Ltd, announced is engaged in the production and marketing that it was seeking a buyer for 28.729 mil of titanium bearing mineral sands and common shares, or a 24% minority stake titanium dioxide pigment. It also produces in Tronox Ltd, a Kwinana Beach- based natural soda ash. The Company was manufacturer of pigments. founded on September 21, 2011. RECENT DEALS Announced, Pending LBOs By U.S. Sponsors (April 14, 2018 - April 29, 2018) CONSUMER PRODUCTS AND SERVICES Rank Date Target Name Target Short Acquiror Full Name Acquiror Ranking Value Synopsis Business Ultimate inc.
    [Show full text]
  • Funds Raised in Q2 2016
    www.buyoutsnews.com July 11, 2016 | BUYOUTS | 59 FUNDS RAISED IN Q2 2016 The following list represents funds raised by U.S.-based LBO and mezzanine firms in 2016. The list is compiled by Buyouts’ staff from a variety of sources, including news reports, press releases, Securities and Exchange Commission filings, and conversations with general and limited partners. Buyouts attempted to contact firms on the list. The amounts below are the most current figures we could obtain at press time. Funds in black are closed. Funds in red remain open, to our knowledge. If you have any questions or comments about this list, please send them to Paul Centopani, at [email protected]. Sponsor Name of Fund Fund Type Amount Amount Target ($M) Placement Agent Legal Counsel Raised Raised- in 2015 to-Date ($M) ($M) Aberdeen Asset Aberdeen Energy & Resources Acquisitions/Buyouts (Industry 225 Management Partners IV, L.P. Focus: Energy/Power) ACON Investments ACON Equity Partners IV, L.P. Acquisitions/Buyouts 578.2 1,070 Evercore Advent International Advent Global Private Equity VIII Acquisitions/Buyouts 12,100.0 13,000.0 12,000 AE Industrial Partners AE Industrials Partners Fund I, L.P. Growth Equity (Industry Focus: 680.0 680.0 600 Eaton Partners Gibson Dunn & Industrials) (Debut Fund) Crutcher LLP Alliance Consumer Alliance Consumer Growth Fund Growth Equity (Industry Focus: 210.8 210.8 Kramer Levin Growth III LP Consumer Products/Services) Naftalis & Frankel Altaris Capital Partners Altaris Health Partners III LP Acquisitions/Buyouts 425 Alvarez
    [Show full text]
  • Credit Suisse First Boston
    SUPPLEMENTAL LISTING DOCUMENT If you are in doubt as to any aspect of this document, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser. The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) and Hong Kong Securities Clearing 1 Company Limited (“HKSCC”) take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document. Offer of 180,000,000 European Style (Cash Settled) Average Return* Call Warrants in Global Registered Form due May 18, 2005 relating to the existing issued ordinary H shares of RMB1.00 each of Huaneng Power International, Inc. (Stock Code: 9945) issued by Credit Suisse First Boston 7 (incorporated under the laws of Switzerland) 8 Exercise Price: HK$8.88 per Warrant Expiry Date: May 18, 2005 This Supplemental Listing Document is published for the purpose of obtaining a listing of all of the above warrants (the “Warrants”) relating to the existing issued ordinary H shares of RMB1.00 each of Huaneng Power International, Inc. (the “Company”) to be issued by Credit Suisse First Boston (the “Issuer”) on the Stock Exchange, is supplemental to and should be read in conjunction with a base listing document published on April 23, 2003 (the “Base Listing Document”) (as amended or updated from time to time) and contains particulars given 1 in compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Rules”) for the purpose of giving information with regard to the Issuer and the Warrants.
    [Show full text]
  • Themiddlemarket.Comt M
    OCTOBER 2017 GO GO BIG SMALL OR GO HOME Private equity investors are heading to the lower middle market and the 350,000 companies that populate it TheMiddleMarket.comT m 0C1_MAJ100117 1 9/1/2017 11:40:00 AM B:8.125” T:7.875” S:7.375” Your clients’ wealth has multiplied. B:10.75” T:10.5” So has their S:10” need for advice. We know, because we know you well. Knowing clients well gives us the insight to help with their wealth— and their lives. Together, with your expertise and ours, we’ll help your clients before, during and after the sale of their business. Find out how strong relationships lead to 95% client satisfaction. 844-208-7863 | bnymellonwealth.com | @BNYMellonWealth Source: 2016 Client Satisfaction Survey. BNY Mellon Wealth Management conducts business through various operating subsidiaries of The Bank of New York Mellon Corporation. ©2017 The Bank of New York Mellon Corporation. All rights reserved. 002_MAJ1017 2 8/30/2017 5:39:07 PM WGMT “ADVICE” AD - SIZE A 33/34/65/5 PUB: MERGERS & ACQUISITIONS Filename: 724476-5_J0176_WGMT_Advice_Size_A_V3R.indd CLIENT: BNY MELLON PRODUCT: Print Ad Agency Job Number: J0176 Cradle Job Number: 724476-5 JOB#: J0176 SPACE: 4C Proof #: 3, release Path: EG-PLUS-NY:Volumes:EG-PLUS-NY:EGPlus_Departments:Print:A‚ÄîF:TBWA:BNY_ Created: 8-3-2017 12:00 PM BLEED: 8.125” x 10.75” MELLON:724476-5_J0176_WGMT_ Advice_Size_A_Ad:MECHANICALS:724476-5_J0176_WGMT_Advice_Size_A_V3R.indd Saved: 8-3-2017 2:15 PM TRIM: 7.875” x 10.5” Operators: april_relucio / Daniel-Rivera Printed: 8-3-2017 2:15 PM SAFETY: 7.375”
    [Show full text]
  • Large Cap Equity Fund
    North Carolina Supplemental Retirement Plans Annual Review FEBRUARY 2013 Table of Contents • Defined Contribution Trends – Streamlining Investment Choices – DC Spend Down • Service Provider Disclosures – ERISA 408(b)(2) Regulations • Fee Review – NCSRP Fees – Stable Value Fund Fees • GoalMaker Discussion (Separate Slides) • Considering Other Fund Lineup Options • Fund Performance Review •Disclaimer MERCER 1 Defined Contribution Trends Trends for Large Plan Sponsors • Streamline number and types of investments offered – Combine style-specific (value/growth) choices for participants - Removes need to rebalance among styles - One fund choice that includes multiple underlying strategies across the style spectrum • Focus on retirement income MERCER 3 Streamlining Investment Choices • Research has shown that participants are neither good at making their own investment choices nor happy about this responsibility • Limited participant understanding remains one of the most significant challenges for plan sponsors • Plan sponsors are looking to: – Reduce redundant investment choices – Blend styles and managers – Lower risk for participants • Offering limited options allows clear and simple communication of plan • Allows each participant to create a portfolio that fits their risk tolerance and time horizon MERCER 4 Custom Funds Sample Large Cap Multi-Manager Structure Large Cap Equity Fund • Combining strategies with low or negative excess return correlations are expected to reduce the Index tracking error and increase the fund’s expected 5% information
    [Show full text]
  • Private Equity Review
    the Private Equity Review Private Private Equity Review Eighth Edition Editor Stephen L Ritchie Eighth Edition Eighth lawreviews © 2019 Law Business Research Ltd Private Equity Review Eighth Edition Reproduced with permission from Law Business Research Ltd This article was first published in June 2019 For further information please contact [email protected] Editor Stephen L Ritchie lawreviews © 2019 Law Business Research Ltd PUBLISHER Tom Barnes SENIOR BUSINESS DEVELOPMENT MANAGER Nick Barette BUSINESS DEVELOPMENT MANAGER Joel Woods SENIOR ACCOUNT MANAGERS Pere Aspinall, Jack Bagnall ACCOUNT MANAGERS Olivia Budd, Katie Hodgetts, Reece Whelan PRODUCT MARKETING EXECUTIVE Rebecca Mogridge RESEARCH LEAD Kieran Hansen EDITORIAL COORDINATOR Tommy Lawson HEAD OF PRODUCTION Adam Myers PRODUCTION EDITOR Robbie Kelly SUBEDITOR Charlotte Stretch CHIEF EXECUTIVE OFFICER Paul Howarth Published in the United Kingdom by Law Business Research Ltd, London 87 Lancaster Road, London, W11 1QQ, UK © 2019 Law Business Research Ltd www.TheLawReviews.co.uk No photocopying: copyright licences do not apply. The information provided in this publication is general and may not apply in a specific situation, nor does it necessarily represent the views of authors’ firms or their clients. Legal advice should always be sought before taking any legal action based on the information provided. The publishers accept no responsibility for any acts or omissions contained herein. Although the information provided is accurate as at April 2019, be advised that this
    [Show full text]
  • Investment Reporting Package
    You are Viewing an Archived Copy from the New Jersey State Library DIVISION OF INVESTME NT INVESTMENT REPORTING PACKAGE AUGUST 2011 Actual Allocation vs FY 2012 Investment Plan Target (1) 8/31/2011 Actual Allocation % Target % Difference% Allocation$ Absolute Return Hedge Funds(3) & Hedges 0.6% 2.0% -1.4% 438.05 Total Capital Preservation 0.6% 2.0% -1.4% 438.05 Cash Equivalents (4) 3.1% 2.0% 1.1% 2,181.43 US Treasuries 4.5% 2.5% 2.0% 3,154.00 Total Liquidity 7.6% 4.5% 3.1% 5,335.43 Investment Grade Credit 22.6% 20.0% 2.6% 15,925.03 High Yield Fixed Income 2.6% 2.5% 0.1% 1,867.51 Credit Orient Hedge Funds (3) You are Viewing2.1% an Archived Copy3.0% from the New -0.9%Jersey State Library1,447.92 Debt Related Private Equity (2) 1.2% 1.5% -0.3% 874.20 Total Income 28.5% 27.0% 1.5% 20,114.66 Commodities and Other Real Assets (2) 2.2% 4.0% -1.8% 1,537.11 TIPS 2.2% 3.5% -1.3% 1,577.55 Real Estate 4.0% 5.0% -1.0% 2,819.65 Total Real Return 8.4% 12.5% -4.1% 5,934.31 US Equity 24.5% 23.5% 1.0% 17,287.30 Non-US Developed Markets Equity 14.6% 15.0% -0.4% 10,319.24 Emerging Markets Equity 4.7% 5.0% -0.3% 3,302.22 Equity Oriented Hedge Funds (3) 3.1% 5.0% -1.9% 2,155.40 Buyouts/Venture Capital(2) 6.4% 5.5% 0.9% 4,486.14 Total Global Growth 53.2% 54.0% -0.8% 37,550.30 Police and Fire Mortgage Program (2, 5) 1.6% 0.0% 1.6% 1,135.64 Other Cash and Receivables 0.1% 0.0% 0.1% 85.24 Total Pension Fund 100.0% 100.0% 0.0% 70,593.63 (1) Figures are unaudited and are subject to change (2) Reflects the most recent market values available (3) Values as of July
    [Show full text]
  • Open Kuehn Dissertation Final Draft.Pdf
    The Pennsylvania State University The Graduate School College of Communications PROSUMER-CITIZENSHIP AND THE LOCAL: A CRITICAL CASE STUDY OF CONSUMER REVIEWING ON YELP.COM A Dissertation in Mass Communications by Kathleen M. Kuehn © 2011 Kathleen M. Kuehn Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy August 2011 The dissertation of Kathleen Kuehn was reviewed and approved* by the following: Patrick Parsons Professor of Telecommunications Dissertation Adviser Chair of Committee Michael Elavsky Assistant Professor of Film/Media Studies Matthew P. McAllister Professor of Film/Media Studies Michelle Miller-Day Associate Professor of Communication Arts and Sciences Marie Hardin Associate Professor of Journalism Associate Dean for Graduate Studies and Research *Signatures are on file in the Graduate School. ii ABSTRACT Over the past few years, content developers searching for new markets have found a potentially lucrative consumer base in local and location-based services as new media platforms have begun to “expand” their focus to hyper-local place-based communities. This shift to “local 2.0” has given birth to “local listing sites,” an emerging social medium that converges the content of traditional Yellow Pages, consumer-generated content and the interactive features of social network sites. Such sites harness the productive power of “prosumers,” the hybrid subjectivity of new media users who simultaneously produce and consume online content (Tapscott & Williams, 2006). These sites capitalize on the productivity of users who create discourses through and about local consumption by voluntarily rating and reviewing local businesses and services, challenging the power of institutions traditionally responsible for the production of consumer culture and reputation management (e.g., local business owners, marketers, advertisers, professional critics).
    [Show full text]
  • Alternative Investment Analyst Review
    Alternative Investment Analyst Review EDITOR’S LETTER Hossein Kazemi WHAT A CAIA MEMBER SHOULD KNOW Alternative Beta: Redefining Alpha and Beta Soheil Galal, Rafael Silveira, and Alison Rapaport RESEARCH REVIEW OPEC Spare Capacity, the Term Structure of Oil Futures Prices, and Oil Futures Returns Hilary Till FEATURED INTERVIEW Mebane Faber on ETFs NEWS AND VIEWS The Time Has Come for Standardized Total Cost Disclosure for Private Equity Andrea Dang, David Dupont, and Mike Heale CAIA MEMBER CONTRIBUTION The Hierarchy of Alpha Christopher M. Schelling, CAIA INVESTMENT STRATEGIES Private Market Real Estate Investment Options for Defined Contribution Plans: New and Improved Solutions Jani Venter and Catherine Polleys PERSPECTIVES M&A Activity: Where Are We In the Cycle? Fabienne Cretin, Stéphane Dieudonné, and Slimane Bouacha Nowcasting: A Risk Management Tool Alexander Ineichen, CAIA VC-PE INDEX Mike Nugent and Mike Roth THE IPD GLOBAL INTEL REPORT Max Arkey Q3 2015, Volume 4, Issue 2 Chartered Alternative Investment Analyst Association® Call for Articles Article submissions for future issues of Alternative Investment Analyst Review (AIAR) are always welcome. Articles should cover a topic of interest to CAIA members and should be single-spaced. Additional information on submissions can be found at the end of this issue. Please email your submission or any questions to AIAR@CAIA. org. Chosen pieces will be featured in future issues of AIAR, archived on CAIA.org, and promoted throughout the CAIA community. Editor’s Letter Efficiently Inefficient The efficiency of market prices is one of the central questions in financial economics. The central thesis is that security markets are perfectly efficient, but this leads to two paradoxes: First, no one has an incentive to collect information in an efficient market, so how does the market become efficient? Second, if asset markets are efficient, then positive fees to active managers implies inefficient markets for asset management.
    [Show full text]
  • Amy Liu, Et Al. V. Credit Suisse First Boston Corp., Et Al. 03-CV-20459
    ; fL V ~ UNITED STATES DISTRICT COUR ~ 2 0 9 SOUTHERN DISTRICT OF FLORID A Case No. CIV - MARTINE Z AMY LIU on behalf of herself and all others similarly situated, Plaintiff, vs. CREDIT SUISSE FIRST BOSTON CORPORATION, CREDIT SUISSE FIRST BOSTON, INCORPORATED, CREDIT SUISSE FIRST BOSTON-USA, CREDIT SUISSE FIRST BOSTON, CREDIT SUISSE GROUP, FRANK QUATTRONE, GEORGE BOUTROS, WILLIAM BRADY, JOHN M . HENNESSY, ALLEN D . WHEAT, RICHARD THORNBURGH, CHARLES WARD, DAVID A . DENUNZIO, EDWARD COMPLAINT-CLA§S,AGTION NADEL, JOHN HODGE, JACK TEJAVANIJA, JURY TRIAL DEMANDED AIRSPAN NETWORKS, INC ., ERIC D. STONESTROM, JOSEPH J . CAFFARELLI, AT ROAD, INC., KRISH PANU, THOMAS C. HOSTER, OCCAM NETWORKS INC . (formerly "ACCELERATED NETWORKS, INC ."), SURESH NIHALANI, FREDERIC T . BOYER, AVANTGO, INC., RICHARD OWEN, DAVID B . COOPER, JR ., AUTOWEB .COM, INC. (AUTOBYTEL, real party in interest), DEAN A . DEBIASE, SAMUEL M. HEDGPETH III, BSQUARE CORP ., WILLIAM T . BAXTER, BRIAN V. TURNER, BLUE COAT SYSTEMS, INC . (formerly "CACHEFLOW, INC."), BRIAN M. NESMITH, MICHAEL J. JOHNSON, CLARENT CORP. (VERSO TECHNOLOGIES, INC., real party in interest), JERRY SHAW-YAU CHANG, RICHARD J . HEAPS, COMMERCE ONE, INC., MARK B . HOFFMAN, PETER F . PERVERE, CORILLIAN CORP ., TED F. SPOONER, STEVEN SIPOWICZ, CENTILLIUM COMMUNICATIONS, INC., FARAJ AALAEI, JOHN W . LUHTALA, DIGITAL IMPACT, INC ., WILLIAM C. PARK, DAVID OPPENHEIMER, E MACHINES, INC ., \ yV-v STEPHEN A. DUKKER, STEVEN H . MILLER, EFFICIENT NETWORKS, INC., MARK A. FLOYD, JILL S . MANNING, E.PIPHANY, INC ., ROGER S . SIBONI, KEVIN J. YEAMAN, EVOLVE SOFTWARE, INC., JOHN P. BANTLEMAN, DOUGLAS S . SINCLAIR, HANDSPRING, INC., DONNA L. DUBINSKY, BERNARD J . WHITNEY, IMPROVENET, INC ., RONALD B. COOPER, RICHARD G.
    [Show full text]
  • Probitas Partners 2021 Institutional Investors Private Equity Survey December 2020 Table of Contents
    Probitas Partners 2021 Institutional Investors Private Equity Survey December 2020 Table of Contents Topic Page . Survey Highlights 2 . Background and Appetite 3 . Sectors of Interest 9 . Geographies of Interest 18 . Middle-Market Buyouts 25 . Venture Capital 28 . Niche Sectors 31 . Structural Issues 38 . Investor Fears 43 . Summary 46 Confidential and Trade Secret © 2020 Probitas Partners 1 Survey Highlights – and The Pandemic . The Pandemic has had a roller coaster impact on institutional investors during 2020 as the normal market environment of January plunged into volatility and uncertainty in March and April followed by a slow rebound in public market and private market valuations . By late October prices for many firms returned to January levels as various stimulus plans mitigated certain economic impacts and progress in developing vaccines gave hope for a return to “normal” sometime in 2021 . Probitas’ latest annual survey was taken over the first two weeks of November after the markets had recovered significantly from the depths of April – and the results of a survey done in April would have been very different from what we are showing now . In private equity, investors are still heavily focused on U.S. and European Middle- Market Buyouts and U.S. Growth Capital, though interest in Asian private equity has increased from this time last year . In the second and third quarter of 2020 there was sharply increased interest in secondaries and distressed private equity – but at this point, many investors seem to have already made their bets in these sectors and are waiting for their commitments to be invested before committing too much more to these sectors .
    [Show full text]
  • Teleopathy March 2015
    Teleopathy March 2015 Simply stated, the value of a business today is the sum of all the money it will make in the future. Peter Thiel I’m reading Peter Thiel’s business best seller Zero to One. It was given to me as a holiday gift, as I am encountering more students and clients who hail from startup, technology-driven companies, and perhaps different generational ideals and values. The book is based on his Stanford Start Up course notes. I gladly accepted the book hoping to learn more. And I am. However, the book isn’t just a book about startups, it is a book about the motivation of a group of entrepreneurs and their start up economic philosophy. According to Forbes, Fortune and The Economist, Theil is an American entrepreneur, venture capitalist, and hedge fund manager. Thiel co-founded PayPal with Max Levchin and Elon Musk and served as its CEO. He also co-founded Palantir (the big data consultancy), of which he is chairman. He serves as president of Clarium Capital, a global macro hedge fund with $700 million in assets under management; a managing partner in Founders Fund, a venture capital fund with $2 billion in assets under management; is co-founder and investment committee chair of Mithril Capital Management; and co-founder and chairman of Valar Ventures. He was the first outside investor in Facebook, the popular social networking site, with a 10.2% stake acquired in 2004 for $500,000, and he sits on the company's board of directors. Thiel was ranked #293 on the Forbes 400 in 2011, with a net worth of $1.5 billion as of March 2012.
    [Show full text]