SECA | Swiss Private Equity & Corporate Finance Association

eNewsletter no. 409 Dear Reader 07 May 2014

The past is past, but the future is forever. We can help shape it for SECA numerous innovative people who look for venture capital. 70 new Swiss enterpreneurs shared a pot of 0,3 billion francs for starters in Venture Capital the year 2012 and 2013. We don't know if not just as many folded Private Equity – Swiss News for lack of capital. When we look at their plans we try to help them succeed, because we beliefe that a bit of seed money may go a Private Equity – Int. News long way. Corporate Finance

Mergers & Acquisitions Have a nice week! Management Buyout Maurice Pedergnana

Jobs

Agenda Zukunftsfonds_Schweiz

Editor Langfristanlagen_von_Pensionskassen

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SECA

2013 European Private Equity Activity report launched today

The EVCA today launches the 2013 European Private Equity Activity report,

the industry’s most authoritative source on private equity fundraising and investment activity across Europe. With data on more than 1,200 European private equity firms, the 2013 statistics cover 90% of the €555 billion (bn) in capital under management in the European market. This year’s report highlights that:

In 2013, total fundraising of €53.6bn was more than twice the volume of 2012

Overall investments in European companies remained stable. More than 5,000 companies were backed in 2013 as in the previous year. Equity investments decreased by 3% to €35.7bn

A total of 2,290 European companies were exited representing former equity investments of €33.2bn.

30th SECA Annual General Meeting

5 May 2014, Zunft Stube, Widder Hotel, Zurich

Today, the 30th SECA Annual General Meeting will be held. Please find attached the presentation.

Furthermore, the SECA Yearbook 2014 is available and will be sent to all members in the next days. To order a book please send us an e-mail to [email protected].

Presentation Report from the president

SECA Evening Event: Vom Industrie- zum Beteiligungsgeschäft

Dienstag, 13. Mai 2014, Baur au Lac, Zürich

„Fred Kindle – meine Erfahrungen im Private Equity“ im Gespräch mit Rolf Friedli, Managing Partner Capvis P.E. Schweiz

Die SECA freut sich, dass mit Fred Kindle ein exklusiver Gast für den nächsten SECA Evening Event vom Dienstag, 13. Mai 2014 gewonnen werden konnte.

Melden Sie sich sofort an (beschränkte Teilnehmer-Zahl). Abgerundet wird dieser Event durch einen Networking-Apéro im renommierten Baur au Lac Hotels. Zugelassen sind nur SECA Mitglieder.

weitere Informationen und Anmeldung

13th SECA Private Equity & Corporate Finance Conference

SECA is pleased to give you the first information about this year's Private Equity & Corporate Financen Conference.

Save the date! The 13th edition of the annual SECA Conference will take place on Tuesday, 24 June 2014, in the SIX ConventionPoint in Zurich.

Key Note Speaker Raffaello D'Andrea, professor of Dynamic Systems and Control, ETH Zurich Please make sure to visit our homepage regularly in order to stay tuned about the most recent news concerning the 13th SECA Private Equity & Corporate Finance Conference!

more information and registration

Banking & Finance in Indien und China 2014

25. Juli bis 7. August 2014 in Mumbai, Bangalore, Hong Kong, Shanghai und Beijing

Die meisten IPO, die grössten Kundenstämme, die höchsten Wachstumsraten: Wer von Indien und China spricht benutzt meistens Superlative. Entwickeln sich Indien und China immer mehr zu einer Supermacht? Erfahren Sie mehr auf unserer Studienreise im Sommer 2014. (Vorzugspreis für SECA Mitglieder).

weitere Informationen und Anmeldung

Gelegenheit für SECA-Mitglieder und Portfolio-Firmen

Wie Sie ggf. der Presse entnehmen konnten, wird das Bosch Power Tools

Werk in Solothurn ab 2015 schrittweise geschlossen. THE BOSTON CONSULTING GROUP wurde mandatiert, einen Käufer zu finden, der das Werk und (Teile der) Belegschaft übernimmt. 30.000 m² moderne, vielseitig nutzbare Produktionsflächen sowie eine hochqualifizierte Belegschaft werden verfügbar. Bei Intresse siehe Anhang.

Contact details

Venture Capital

Ambitious Swiss start-ups

Switzerland is an attractive location for young companies, which is why founders with international experience choose to establish their start-up here. Among them is the team of biotech company Sompharmaceuticals, which this week announced the completion of a financing round. Another example is Rookmedia; the start-up based in Thalwil this week bought a US company. Other examples of the ambition of young Swiss companies include Amazee Labs, which has opened an office in the US to serve its international customers over there. And Tengo, a start-up that has developed a multivitamin drink for cats, is already talking about an expansion into the European and American markets in its first press release. Source: Startupticker.ch

Anokion secures funding

On 05/05/14 it was announced that Anokion SA, a Lausanne, Switzerland-based antigen-specific immune tolerance technology developer has received CHF 33 million in a first round (Series A) of funding. The investment was made by Novartis Venture Fund, Novo A/S, Versant Venture Management LLC and private investors. It’s one of the top ten transactions on the historic transactions list in Switzerland so far for a first round of funding. Source: Zephyr

Big Health secures Series A funding from Index Ventures and Forward Partners

On 28/04/14 it was announced that Sleepio Ltd (dba Big Health), a London, UK-based online digital sleep improvement platform developer has secured USD 3.3 million in a Series A round of funding for a startup. The participants in the round were Index Venture Management LLP (Index Ventures), Forward Partners Management Company Ltd and a group of angel investors. Source: Zephyr

Can Europe’s tech hubs ever be Silicon Valley?

Silicon Roundabout stars Eze Vidra of Google Campus, Eileen Burbidge of Passion Capital and Jeff Lynn of Seedrs debate the pros and cons of start-ups in London, Berlin and Tel Aviv vs Silicon Valley.

watch now

VC-Investor will erfahrene CFOs

Hemdsärmelig, unternehmerisch, keine festen Strukturen: Junge Wachstumsunternehmen gelten gemeinhin nicht als das klassische Betätigungsfeld für CFOs. Doch das ist ein Fehler, meint der erfahrene Venture-Capital-Investor Bernhard Schirmers bei FINANCE-TV: „Jedes Start-up braucht einen CFO. Wenn wir einsteigen, installieren wir immer einen – am liebsten erfahrene Industrie-CFOs von außen.“ Auf was sich CFOs, die vom Konzernleben genug haben, bei Start-ups einstellen müssen, was genau ihre Aufgaben sind und an welchem Punkt die meisten Unternehmensgründer spätestens bereuen, keinen guten CFO berufen zu haben, verrät Schirmers im Interview. Quelle: FINANCE-TV.

Private Equity – Swiss News

Akina promotes Dr Ralf Gleisberg to Partner

Ralf Gleisberg joined the company in 2005. He advised on fund investments in France, the Benelux and the Nordic countries and helped defining country strategies. In this function he manages many important relationships in those regions and sits on several advisory boards. Ralf was also instrumental in setting up the portfolio monitoring for Akina advised investment vehicles.

Press Release Ambri completes Series C round of funding

On 30/04/14 it was announced that Ambri Inc., a Cambridge, Massachusetts-based electric storage battery developer, has raised USD 35 million in a third round of funding (Series C). The round was participated by new investors KLP Enterprises LLC, Pritzker/Vlock family office and Gebäudeversicherung Bern (Building Insurance Bern), and existing investors including Khosla Ventures LLC, Mr William H Gates III (Bill Gates) and Total SA. Source: Zephyr

Partners Group Backs Mexico Credit

Two months after Partners Group Holding AG bought a majority stake in a Mexican gas pipeline operator, they are capitalizing on unprecedented demand for the nation’s corporate debt. Fermaca Enterprises, owned by Partners Group, sold $550 million of bonds overseas recently. The sale was the seventh first-time offering since August, when President Enrique Pena Nieto proposed changes to the state oil industry that were signed into law four months later. In the same span, only one debut issuer came from Brazil, the biggest developing-nation bond market. Partners Group is seeking to profit from Mexico’s energy industry after the government ended its 76-year-old oil monopoly and from a boom in shale gas, according to the firm’s managing director, Jean Perarnaud. Fermaca, purchased from New York-based hedge fund Ospraie Management LLC for $750 million in February, has a 25-year transportation agreement with state-owned utility Comision Federal de Electricidad. Fermaca, based in Mexico City, sold the bonds due 2038 to yield 6.375 percent. The senior secured amortizing notes, which will have an average maturity of 15 years, are backed by Fermaca assets including pipelines. Fitch Ratings and Standard & Poor’s rate the bonds BBB-, the lowest investment grade.

Partners Group opens Mumbai office to build out private markets investments in India

Partners Group has opened its first Indian office in Mumbai, increasing its total number of offices around the globe to 17. Cyrus Driver, Managing Director, will head the Mumbai office in the business district Worli and continue to build out the firm’s investment activities on the ground.

Partners Group is an active investor in Indian private equity, real estate and infrastructure opportunities on behalf of its clients. In 2013, Partners Group made two India-related private equity investments: an investment in global technology support services leader, CSS Corp, which has a large workforce on Indian soil, and an additional investment in a chain of schools.

Download press release

Private Equity – Int. News

Media Monitoring

Das grösste Private-Equity-Debakel aller Zeiten

Private-Equity-Gründer im Titan-Board

Private Equity-Haus sucht Käufer für Minimax

Institutionelle planen Umschichtungen in Aktien und Private Equity

Ardian kauft Portfolio für 1,3 Mrd. Dollar

Der gewagtetste Private-Equity-Deal ...

Secondary-Spezialist Ardian kauft GE Capital-Portfolios für 1,3 Mrd. Dollar

TA Associates erwirbt Mehrheitsbeteiligung an Bomgar

Runtastic und Linemetrics gewinnen UPside award

KKR & Co. Management Discusses Q1 2014 Results

Kohlberg Kravis Roberts & Co. (KKR) reported first quarter economic net income of $630 million, which equates to $0.82 of after-tax economic net income per unit. Fee related earnings for the quarter were $152 million, which is the highest KKR has ever reported as a public company, representing approximately a 26% increase from last quarter, and an increase of over 70% from the same time last year. This growth was driven by higher management fee revenue across the firm, as well as strong transaction fees that were generated in the capital market segment. As of March 31, the fee paying assets under management were $84 billion, also an increase of 8% from last quarter and 34% from last year. Private Markets, KKR's private equity portfolio appreciated 4.5% in the first quarter, outperforming the MSCI World and S&P 500, which were up 1.4% and 1.8%, respectively.

The Blackstone Group's CEO Discusses Q1 2014 Results

Stephen A. Schwarzman, CEO of The Blackstone Group: "It’s been a terrific start to the year, with the record first quarter for both ENI and cash earnings, an all-time record AUM of $272 billion, which is up 25% year-over-year. Each of our investment platforms posted great returns and double-digit AUM growth, and we generated total realizations in the quarter of over $9 billion.

Blackstone is perfectly positioned to take share of this growing pie. We pioneered several businesses over an extended period of time to become a best in class brand and the only manager with scale, global platforms across the major asset classes. One of the challenges many money managers will face with greater capital flows, more competition in higher asset prices is how to generate good returns. Blackstone singular focus on achieving top tier investment performance is a key differentiator in this environment.

Our returns were quite good across the board in the first quarter. Our private equity portfolio rose 27% in the past year, including 7% in the first quarter. These returns have been driven by strong portfolio company operating performance. With some of the best revenue EBITDA trends we’ve seen in some time and significantly better than trends in the broader market. This is really important for you to understand that are underlying assets in our view significantly outperforming what’s happening in the liquid securities markets. In real estate, our opportunistic investments were up 28%, over the past year including 4% in the first quarter. Our credit funds had gross returns between 19% and 31% over the past year and 4% to 5% in the first quarter, which is pretty terrific for any asset class, but particularly outstanding for credit investing as you’ve seen from results from other firms as we reported in the last few days.

We were particularly active in private equity, mostly from BCP5, that's Blackstone Capital Partners 5, including three public market dispositions and three strategic sales. In real estate, we had significant partial realizations in our US and European office portfolios, including our sale of Broadgate in London, which occurred at a multiple of over four times our original invested capital and a net IRR of over 40%. This is not what happens typically in real estate with mature properties in the center of London.

The Carlyle Group LP Management Discusses Q1 2014 Results

David Rubinstein, CEO & Founder of The Carlyle Group: "After a strong fourth quarter and a strong full year in 2013, Carlyle is off to a robust start in 2014. During the quarter, from our 2013 base, our investment pace improved, our portfolio continued to improve -- to appreciate, and our ability to achieve new fund investor commitments accelerated, a number of our funds achieved attractive exits, and several of our larger funds moved deeper into carry. … Our carry funds appreciated 6% in the quarter and 18% for the last 12 months. We raised new commitments of $5.5 billion, up from $4.7 billion raised in the first quarter of last year.

Let me focus my comments on 3 areas: our progress over the past 12 months, the management team that we've assembled, and our fundraising activities. Over the past 12 months, the firm has become much stronger by a great many of the metrics often used to measure firms like ours. We raised $23 billion in new capital for our funds; 72% of the fair value of our carry fund investments is today in carry, versus 66% a year ago; dry powder increased to $56 billion, $36 billion of which is in our carry funds and NGP; our AUM increased by 13% from $176 billion to $199 billion; we generated $16.3 billion of realized proceeds; we transformed our natural resource investment business into 4 separate and scalable teams; and with growing investment capabilities and resources in the U.S. and abroad.

On average, our fund heads have been at the firm for 9 years, and more than 15 of our fund heads have been with Carlyle for 10 or more years. This type of investment professional stability and experience has helped us achieve our investment returns as a large factor behind our fundraising success. The roles played by our fund heads and the roles played by more than 700 other investment professionals in the firm are supplemented by the professionals of the firm who lead various corporate functions and who also serve on our management committee. In short, we think the firm has a wealth of talented next-generation leaders throughout our core areas.

Our goal is to offer our fund investors a wide variety of strategies that they can choose to pursue depending on their own needs. Last year, we raised a large amount of money, $22 billion, a good portion of which was in our new U.S. buyout fund. This quarter, we continued to raise large amounts of money, but across a much more diversified set of funds. Specifically, we held interim closings on 9 of those funds in the quarter, including our first closing on our seventh U.S. real estate fund at more than 1/3 of our target, and closings on our new international energy fund and latest vintage Europe, Asia and Japan funds. We closed new-issue CLOs in the United States and Europe for a total of $1.25 billion. We held our final closing on our Sub-Saharan African fund, reaching approximately $700 million in total commitments, well above our target of $500 million."

Warren Buffett Says He'd Partner With 3G Capital Again On 'Very Large' Deals

Warren Buffett on Saturday said Berkshire Hathaway Inc would team up again with private equity firm 3G Capital on more transactions, perhaps very large ones, despite criticism of the Brazilian firm's slashing of too many jobs at HJ Heinz & Co. "I think 3G does a magnificent job of running businesses," Buffett said at Berkshire's annual meeting. "We're very likely to partner with them, perhaps on some things that are very large.“ Berkshire contributed $12 billion toward the more than $23 billion purchase of Heinz, but gave 3G day-to-day control of operations. Some critics have said 3G's cuts do not reflect Berkshire's typical values toward people who work at companies it acquires.

Corporate Finance

Evolva proposes capital increase

On 30/04/14 it was stated that Evolva Holding SA, a Reinach, Switzerland-based pharmaceuticals and drugs research services holding company is to ask its shareholder for approval to increase its share capital by up to 50 million new shares. Based on the closing share price of CHF 1.32 on

29/04/14, the last day of trading prior to the statement, we can value these 50 million shares at around CHF 66 million, representing a 15.3 per cent stake of the enlarged capital of 326,763,837 shares. Source: Zephyr

Forbo announces new share buyback

On 29/04/14 Forbes Holding AG, the Baar, Switzerland-based floor coverings manufacturer, announced it is authorized to buy back up to 10 per cent of its own shares. We can value these 225,000 shares at around CHF 200 million. The share buyback will complete no later than on 27/04/17. Source: Zepyhr

Neue Zürcher Zeitung upping share of Freie Presse Holding

PubliGroupe has agreed to divest its minority stake in Freie Presse Holding, a St. Gallen-based newspaper publisher. Neue Zürcher Zeitung will pick up the 25.1 % shareholding for CHF 53.0 m (EUR 43.6 m). The newly-announced deal is not its first disposal of 2014; last month it announced plans to sell both Publicitas and xentive to private equity firm Aurelius in line with plans to concentrate on its digital business portfolio. Source: Zephyr

PostFinance to acquire stake in Swissquote

On 02/05/14 it was stated that PostFinance AG is to acquire a 5 per cent interest in Swissquote Group Holding AG, a Gland, Switzerland-based online financial information services provider. The stake will be acquired in a capital increase. Based on the closing share price of CHF 34.70 on 30/04/14, the last day of trading prior to the statement, we can value the 695,323 shares at around CHF 24m. Swissquote's shareholder will vote on the capital increase during the General Meeting on 07/05/14. Source: Zephyr

Ixonos to issue new shares in a private placing

On 30/04/14 it was announced that Ixonos Oyj, a Helsinki, Finland-based ICT consulting services providing company has decided to issue in directed share issue up to 15.2 million new shares. The subscribers will be Holdix Oy, InfoSec Global (Schweiz) AG and Turret Oy. Source: Zephyr

Von der Gier der Manager und anderen Märchen

Hermann J. Stern befasst sich mit der optimalen Vergütung von Managern. Heute laufe vieles falsch, sagt er. Stern räumt jedoch auch mit althergebrachten Mythen auf – und von denen gibt es nicht wenige.

Mergers & Acquisitions

Bel Fuse to acquire the Power-One Power Solutions business from ABB

On 28/04/14 it was announced that Bel Fuse Inc. has entered into a definitive agreement to acquire Power-One Inc.'s Power Solutions business, a San Jose, California-based solar power inverters and conversion products manufacturer, from ABB Ltd. Bel will pay a cash consideration of approximately USD 117 million. The transaction is subject to regulatory approvals and is expected to complete in Q2 of 2014.

Erfolgreicher Verkauf voll integrierter Geschäftsbereiche

Bei mittelgrossen Firmen sind oft verschiedene Geschäftsbereiche eng miteinander verflochten, meist sogar in der gleichen rechtlichen Einheit untergebracht. Der Unternehmer sollte jedoch die Frage nach der „best ownership“ eines einzelnen Geschäftsfeldes stellen, auch wenn dieses stark integriert ist. Marktveränderungen, Ressourcen-Fokussierung und Optimierung der Wertschöpfungskette können eine Abspaltung und Verkauf strategisch sinnovll machen. Frühzeitig eingeleitet kann ein Verkauf Werte für das Verkäuferunternehmen schaffen und insbesondere auch die Zukunftsfähigkeit des betroffenen Geschäftsfeldes sichern. Quelle: MergerTalk von Kurmann

Markwalder & Partner to merge with Hodler Emmenegger

On 29/04/14 it was announced that Markwalder & Partner Rechts- und

Unternehmensberatung and Hodler Emmenegger are to merge. Markwalder and Hodler are two law firms, based in respectively Muri b Bern and Berne, Switzerland. After completion on 01/05/14, the combined entity will continue as Markwalder Emmenegger Rechtsanwälte und Wirtschaftskonsulenten. Source: Zephyr

New M&A report North America

The following report details mergers and acquisitions activity in North America in April 2014 using data from the Zephyr database.

North America April 2014

PubliGroupe majority stake in Sellbranch

On 28/04/14 it was announced that PubliGroupe SA is to acquire a 50.1 per cent stake in Sellbranch AB, the Stockholm, Sweden-based digital media yield management and programming services provider. Board of Directors Mr Ola Ahlvarsson and CEO Mr Fredrik Sellgren will remain shareholders in the company, together with second largest shareholder Keynote Media Group AB. Source: Zephyr

Safran übernimmt Morgan Stanley (Switzerland)

Die Bank J. Safra Sarasin kauft den Schweizer Private Banking-Bereich der US-Bank Morgan Stanley. Über finanzielle Details sei Stillschweigen vereinbart worden. Die Konsolidierung am Schweizer Markt ist mit dem Deal offenbar längst nicht abgeschlossen.

Die Kaufvereinbarung umfasse die Übernahme des Kundenberater-Teams mit dem Fokus auf sehr vermögende Kunden (Ultra High Net Worth) in der EMEA-Region (Europa, Naher Osten und Afrika) sowie in Lateinamerika, so J. Safra Sarasin. Die Übernahme werde nach Erhalt der behördlichen Bestätigung voraussichtlich im ersten Halbjahr 2015 abgeschlossen. Der Abschluss des Verkaufs geht einher mit dem Bekanntwerden, dass sich der Schweizer Ableger von Morgan Stanley in die Gruppe 2 des US-Bankenprogramms zur Bereinigung des Steuerstreits mit der Schweiz eingereiht habe. Dies berichtete die Nachrichtenagentur Dow Jones am Dienstag. Banken der Gruppe 2 gehen davon aus, dass sie Kunden in den USA bei der Steuerhinterziehung geholfen haben und müssen mit einer Busse rechnen. Laut Dow Jones verwaltet Morgan Stanley Schweiz Vermögen über knapp 51 Mrd USD, wobei der Hauptanteil aus den Filialen in Hongkong und Singapur stammten. Die Bank J. Safra Sarasin hat laut Geschäftsbericht im vergangenen Jahr Vermögen in Höhe von 131,4 Mrd CHF verwaltet. Die Bank beschäftigte im per Ende Jahr 1'990 Mitarbeitende.

Global Market GP acquires majority stake in Novye Tekhnologii

On 05/05/14 it was announced that Global Market GP SA (Gravesano, Switzerland; Elena Bernasconi) acquired an initial 99.87 per cent stake in Novye Tekhnologii ZAO, a Moscow, Russian Federation-based business consulting company, from Izhevskii Zavod Plastmass OAO, Izhplastinvest OOO and Poliplastinvest OOO. Source: Zephyr

Management Buyout

Biggest failure

The company acquired in the biggest leveraged buyout ever

Das grösste Private-Equity-Debakel aller Zeiten

Kudelski sells NagraID to management and investors

On 02/05/14 it was announced that Kudelski SA has sold NagraID SA, a La Chaux-de-Fonds, Switzerland-based embedded card manufacturer, to investors including NagraID's management. Source: Zepyhr

Jobs

Associate Director/VP Position with Leading M&A Boutique in Switzerland

Swiss Capital Corporate Finance is a leading independent investment banking boutique based in Zurich with a successful track record of 15 years. The company offers a broad range of corporate finance advisory services in the context of mergers, acquisitions, public takeover situations, and disposals as well as structuring & placement of debt, hybrid, and equity capital financings. As one of the leading corporate finance / M&A advisors in Switzerland, Swiss Capital Corporate Finance has successfully advised numerous Swiss & international clients on national & cross-border transactions, executing a cumulated deal volume of more CHF 20 billion. Given our strong deal flow and pipeline, Swiss Capital Corporate Finance is providing an excellent opportunity for entrepreneurial professionals who enjoy working in a dynamic environment.

Job description

Looking for an M&A project manager?

SECA is in contact with a seasoned finance professional who seeks a role as temporary project manager for M&A or capital markets transactions. The person worked for one of the leading investment banks in Switzerland and has long-standing experience in this field having successfully executed multiple international/cross-border M&A (public and private, buy- and sell-side) as well as capital markets transactions (incl. IPOs). Scope of services includes transaction-related advisory such as overall project coordination, valuation work, due diligence, transaction structuring, financing aspects as well as deal tactics and negotiation. In addition, general assistance with broader corporate finance topics as well as strategic considerations.

Languages: German, English, French. Immediate availability.

Should you be interested, please contact [email protected].

How to publish a job ad

On this place your Job ad could be published.

If you are interested please send an e-mail with your job ad, the company logo and a short description about the Job and/or the Company to [email protected].

for SECA Members CHF 100.- / 2 Weeks

for Non-Members CHF 200.- / 2 Weeks

Agenda

BAI - Alternative Investor Conference

13-14 May 2014, Frankfurt

Freuen Sie sich auf versierte Fachvorträge und Panel-Diskussionen zu neuen Trends und Entwicklungen in den Bereichen Asset Management, Portfoliostrukturierung, Risikomanagement und Regulierung. Themenschwerpunkte sind u.a. Infrastrukturinvestments, Loan-/Debt-Strategien, Private Equity, Kapitalanlage im Niedrigzinsumfeld unter Einbeziehung von Alternative Investments, Absolute Return UCITS. Mit hochkarätigen Key-note-Speakern aus Politik, Wissenschaft, Industrie und Aufsicht.

Mitglieder der SECA erhalten 20 % Rabatt auf die reguläre Teilnehmergebühr.

weitere Informationen und Anmeldung

AltAssets Limited Partner Summit

3 - 4 June 2014, London

Join the private equity industry's leading investors at the Limited Partner

Summit.

We’re bringing together up to 150 of Europe’s most active LPs with 150 of the world’s best fund managers, along with selected industry experts. The Limited Partner Summit will address the issues that matter most to LPs and facilitate interactions with established and promising GPs from around the world.

SECA members are eligible for a special 10% fee reduction on delegate tickets. Please register online and enter code SECAVIP2014.

more information and registration

Upcoming CTI Invest Events

2nd Swiss Venture Day 2.6.2014, Berlin

2nd Investors Forum 16.6.2014, St. Gallen

more Events of CTI

Training

Learn early-stage and angel investing processes and best practices in a small group from expert investors. Enhance your investor learning and help build your portfolio by choosing from the training modules. They are held monthly via *virtual webinars or in-person classes during our city events. Training Modules are included in a number of our investing memberships or may be purchased individually or as a one year package. Click here to purchase.

Forthcoming SECA Events - save the date

SECA Annual General Meeting 07.05.14, Widder Hotel, Zurich

SECA Evening Event: Vom Industrie- zum Beteiligungsgeschäft 13.05.14, Baur au Lac, Zürich

13. Swiss Private Equity and Corporate Finance Conference 24.06.14, SIX Convention Point, Zurich

Study Tour - Banking & Finance in Indien und China 2014 25. Juli bis 6. August 2014

NEW Date! Top 100 Startups 2014 17.09.14, MAAG - Werft 219, Zurich

Forthcoming Young SECA Events

SECA Annual General Meeting 07.05.14, Widder Hotel Zurich

Swiss Private Equity and Corporate Finance Conference 24.06.14, SIX Convention Point, Zurich

9. Young SECA Get Together 21.08.14

NEW Date! Top 100 Startups 2014 17.09.14, MAAG - Werft 219, Zurich

10. Young SECA Get Together 20.11.14

Forthcoming related Events

2nd Swiss Venture Day in Berlin 02.06.14, Berlin

AltAssets Limited Partner Summit 02.-04.06.14, London

Swiss Venture Day 11.06.14, SIX, Zurich

2nd Investors Forum 16.06.14, St. Gallen

Swiss Venture Day 10.09.14, SIX Zurich

Swiss Venture Day 03.12.14, SIX, Zurich

Editor

SECA eNewsletter is a free online newsletter published by Maurice Pedergnana, Managing Director of the SECA Swiss Private Equity & Corporate Finance Association, received by more than 3'000 email addresses. More information: www.seca.ch or +41 41 757 67 77 (Andrea Villiger). The eNewsletter archive service is available only for SECA members.