DOCSLIB.ORG

Spotlight August 2009

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

SuperReturn Middle East 2009 3rd Annual Middle East, North Africa, Turkey and South Asia’s Private Equity and Venture Capital Summit 11th-14th October 2009, Grand Hyatt, Dubai http://www.icbi-events.com/KN2215PQEM1 Dear Spotlight Subscriber, Preqin is delighted to have arranged a special invitation and 15% discount for Spotlight readers who would like to attend SuperReturn Middle East 2009 in Dubai on October 11th-14th, 2009. SuperReturn Middle East has an entirely re-invented interactive, dynamic and networking agenda with a host of features and sessions designed to enable you to meet and exchange ideas with LPs and GPs alike – perfect for you to exploit every minute of your time at the event, and make every moment pay. Please contact the SuperReturn Middle East Forum 2009 Team directly: on +44 (0) 207 017 7200 or email [email protected], and be sure to quote the Priority code KN2215PQEM1 to secure your 15% discount. I’ll be chairing a session at the conference, and hope to have an opportunity to connect with you there. Kindest regards, Mark O’Hare Managing Director Preqin For more information contact the SuperReturn Middle East Forum 2009 Team directly: Quote Priority code: KN2215PQEM1 Call: +44 (0) 207 017 7200 Email: [email protected] Web: http://www.icbi-events.com/KN2215PQEM1 Private Equity Spotlight www.preqin.com August 2009 / Volume 5 - Issue 8 Welcome to the latest edition of Private Equity Spotlight, the monthly newsletter from Preqin, providing insights into private equity performance, investors and fundraising. Private Equity Spotlight combines information from our online products Performance Analyst, Investor Intelligence, Fund Manager Profi les & Funds in Market. Investor Survey Results Special Fundraising Spotlight Feature Article page 3 page 13 Current Investor Attitudes to Private Equity This month’s Fundraising Spotlight takes an in-depth look at buyout, venture and fund of funds private equity fundraising. Over one week in July 2009 Preqin’s Investor Intelligence team conducted a survey of 100 of the most signifi cant institutional investors in private equity. This month’s feature article takes a look at the results and what this means for the fundraising market in the Conferences Spotlight second half of 2009. page 18 We look at the upcoming events in the private equity world. Performance Spotlight page 9 The Eff ect of Private Equity Performance on the Current Investor News page 21 Fundraising Environment All the latest news on secondaries and private equity investors; This month we look at how private equity performance has aff ected fundraising for new vehicles and why this years total Including... capital raised looks set to be signifi cantly lower than in previous years. • Adams Street Partners • ERA Foundation • Korea Investment Corporation Fund Manager Spotlight page 11 New York Buyout Firms • Jade Invest This month’s fund manager profi le looks at New York buyout fi rms and examines the number, size and preferences of the funds they raise. Be the fi rst to know about all our exclusive research reports and projects, follow us on www.twitter.com/preqin If you would like to receive Private Equity Spotlight each month please email [email protected]. Subscribers to Performance Analyst and Investor Intelligence OUT NOW receive additional information not available in the free version. If you would like further details please email [email protected] The 2009 Preqin Fund Terms Advisor Publisher: Preqin Ltd. Scotia House, 33 Finsbury Square, London. EC2A 1BB More information available at: www.preqin.com/fta Tel:T +44 (0)20 7065 5100 w: www.preqin.com PERFORMANCE • INVESTORS • FUNDRAISING • FUND MANAGERS © 2009 Preqin Ltd. / www.preqin.com 3 ◄ Feature Article August 2009 Feature Article: Current Investor Attitudes to Private Equity Much has changed in the private equity industry in the past year. The global Fig. 1: fi nancial crisis had a massive impact on the asset class, not just on the investments made by fund managers, When Are Investors Expecting to Next Make Private Equity Fund Commitments? but also on the institutional investors in private equity funds, their opinions of the 60% industry and their ability to make fresh 54% commitments. 50% The evidence for this can clearly be 40% seen in recent fundraising fi gures: in Q2 2009, 89 private equity funds 30% 25% reached a fi nal close securing $79.7bn between them, considerably less than 20% the $194.5bn raised by the 274 funds Proportion of Investors to hold a fi nal close in the same quarter 10% 7% 6% 7% the previous year. But to what extent is this drop in fundraising a result of shifting 0% investor attitudes to the asset class, how Will Invest in Will Invest in Will Invest in Considering Unlikely to Invest 2009 2010 2011 or later in Next 2 years permanent is the apparent decline in investor appetite for funds and when are investors likely to return to the market? Fig. 2: Using Investor Intelligence, Preqin’s database containing profi les for over 4,000 investors in private equity, we Investors’ Intentions for Their Private Equity Allocations conducted a survey of 100 signifi cant institutional investors over a single week in July 2009 to obtain a unique snapshot of their views of the industry at the current time and to see how active LPs anticipate being in the asset class in the coming months and years. This article contains some highlights from the full report, which can be found on our website: www.preqin.com/investorsurvey Proportion of Investors Future Private Equity Investments Just 41% of the investors we polled told us they had committed to private equity funds in the past six months. But when can we expect more LPs to return to the market and make fresh the asset class in the next 18 months, investing further in the next two years. commitments? As Fig. 1 shows, a reassuring news for fund managers We asked investors whether they considerable 79% of investors expect currently engaged in, or intending to expected their allocations to private equity to make new commitments to funds commence, fundraising. In fact, more to increase in the next 12 months and, in either this year or next, showing that than half of investors are seeking to addition, whether they foresaw their long- large numbers of investors can be make commitments before the end of term target allocations increasing over the expected to recommence investment in 2009. Just 7% told us they would not be next three to fi ve years. As Fig. 2 shows, © 2009 Preqin Ltd. / www.preqin.com 4 ◄ Feature Article August 2009 ... investor appetite for private equity is still strong and that “ most LPs still intend to remain active in private equity over the “ longer term... in the short term, investors’ allocations to private equity are expected to remain Fig. 3: broadly the same, with just 11% of investors informing us that they expected the overall level of their exposure to the Current Levels of Private Equity Allocations Compared to Target Allocations asset class would go up, whilst the vast majority, 80%, expected their current allocations to private equity to remain at the same level as a proportion of their overall investment portfolios. However, it is clear that investor appetite for private equity is still strong and that most LPs still intend to remain active in private equity over the longer term; just 6% of investors in the asset Proportion of Investors class anticipate decreasing their target allocations in three to fi ve years. In fact, 30% expect to increase their target allocations over the next few years, showing that, though investors have been holding off from investing in the asset class more recently, as the markets IBC’s Acclaimed Private Equity Transactions and Tax Series Register by 20094th & SeptemberSAVE £50 stabilise, actual investor appetite for the asset class has remained strong, and an increase in investor activity can be Private Equity expected. Current LP Views of the PE Market Tax Practices The Latest Developments and Thinking on Tax Minimisation Strategies for Fund and Deal With private equity valuations lagging Structures, Investors and Management Teams behind public markets, private equity Authoritative Presentations Addressing: Expert Speakers Include portfolios did not immediately refl ect • Tax Planning for the 50% Income Tax Rate & Anthony Stewart the new fi nancial situation and, as a Non-domiciled Executives Mark Baldwin MACFARLANES CLIFFORD CHANCE consequence, many private equity • International Fund & Deal Structuring • Management Team Issues Kathleen Russ Paul Megson investors found the proportion of their • Benelux Developments TRAVERS SMITH DELOITTE portfolios allocated to private equity • Refinancing Case Study & Panel Debate Willem Bon & Peter Moons Donald Rocap rising signifi cantly as their investments • HMRC Clearances & New Initiative on HNWIs LOYENS & LOEFF KIRKLAND & ELLIS LLP in public equities declined in value. The • Best Strategies for Delivering Carried Interest Tony Bullock • US Tax Issues for Inbound & Outbound Investments Anneli Collins past six months, however, have seen KPMG ERNST & YOUNG private equity valuations fall and as Fig. • VAT & Private Equity Transactions Sarah Woodall & Chris Damien Crossley 3 shows, just 17% of investors are now Plus - SAVE £200 - if you also register for Planning for Employment Related Securities Orchard MACFARLANES fi nding themselves overcommitted to the 14th October 2009, Radisson Blu Portman Hotel, London HM REVENUE & asset class, whereas a considerable 34% (Quote: KW5079DISCOUNT£200) See inside for more details or: CUSTOMS Tel: +44 (0) 20 7017 7790 • Fax: +44 (0) 7017 7824 of investors have yet to reach their target Email: [email protected] • Web: www.ibc-events.com/ERS allocations. Media Partners Organised by 10% DISCOUNT Furthermore, whilst just 12% of European VIP code: KW5072PQAD investors are at present exceeding their 1st October 2009, Le Meridien Piccadilly Hotel, London target allocations to private equity, almost REGISTER TODAY: Tel: +44 (0)20 7017 7790 • Fax: +44 (0)20 7017 7824 Email: [email protected] • Web: www.ibc-events.com/PEtaxpractices © 2009 Preqin Ltd.
Recommended publications
  • The Granular Nature of Large Institutional Investors

    The Granular Nature of Large Institutional Investors

    NBER WORKING PAPER SERIES THE GRANULAR NATURE OF LARGE INSTITUTIONAL INVESTORS Itzhak Ben-David Francesco Franzoni Rabih Moussawi John Sedunov Working Paper 22247 http://www.nber.org/papers/w22247 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 May 2016, Revised July 2020 Special acknowledgments go to Robin Greenwood and David Thesmar for thoughtful and extensive comments. We also thank Sergey Chernenko, Kent Daniel (NBER discussant), Itamar Drechsler, Thierry Foucault, Xavier Gabaix, Denis Gromb, Andrew Karolyi, Alberto Plazzi, Tarun Ramadorai (AFA discussant), Martin Schmalz, René Stulz, and Fabio Trojani as well as participants at the NBER Summer Institute (Risk of Financial Institutions) and seminars at Cornell University, the Interdisciplinary Center Herzliya, University of Texas at Austin, Georgia State University, Tilburg University, Maastricht University, HEC Paris, USI Lugano, Villanova University, The Ohio State University, the Bank for International Settlements, NBER Risk of Financial Institutions Summer Institute, and American Finance Association for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2016 by Itzhak Ben-David, Francesco Franzoni, Rabih Moussawi, and John Sedunov. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. The Granular Nature of Large Institutional Investors Itzhak Ben-David, Francesco Franzoni, Rabih Moussawi, and John Sedunov NBER Working Paper No.
  • PIMCO All Asset Portfolio

    PIMCO All Asset Portfolio

    PIMCO All Asset Portfolio SUMMARY PROSPECTUS Underlying PIMCO Funds and is separate from the management fees paid to Pacific Investment Management Company LLC (“PIMCO”). Excluding interest expense of the April 30, 2021 Underlying PIMCO Funds,Total Annual Portfolio Operating Expenses After Fee Waiver and/or Expense Reimbursement are 1.215% for Administrative Class shares. Share Class: Administrative Class 2 Total Annual Portfolio Operating Expenses do not match the Ratio of Expenses to Average Net Assets Excluding Waivers of the Portfolio, as set forth in the Financial As permitted by regulations adopted by the Securities and Exchange Commission, you Highlights table of the Portfolio’s prospectus, because the Ratio of Expenses to may not be receiving paper copies of the Portfolio's shareholder reports from the Average Net Assets Excluding Waivers reflects the operating expenses of the Portfolio insurance company that offers your contract unless you specifically request paper copies and does not include Acquired Fund Fees and Expenses. from the insurance company or from your financial intermediary Instead, the shareholder 3 PIMCO has contractually agreed, through May 1, 2022, to reduce its advisory fee to reports will be made available on a website, and the insurance company will notify you by the extent that the Underlying PIMCO Fund Expenses attributable to advisory and mail each time a report is posted and provide you with a website link to access the report. supervisory and administrative fees exceed 0.64% of the total assets invested
  • Review Risk Management Institue

    Review Risk Management Institue

    NOV 2016 · VOL 3 PRIVATE EQUITY GOSS INSTITUTE OF RESEARCH MANAGEMENT LIMITED NATIONAL UNIVERSITY OF SINGAPORE REVIEW RISK MANAGEMENT INSTITUE HAITAO JIN Qianhai Fund of Fund, LLP Exploring the Business Model of China’s Private Equity/Venture Capital (PE/VC) Fund of Funds (FOF) Investments KATAHIRA MASAKI Eastasia Investment (International) Limited New Findings on Japan’s Capital Market: A Study on Japan Post Group’s Successful Transformation through Capital Market WEI CUI, MIN DAI, AND STEVEN KOU Risk Management Institute’s New Research Initiative A Pricing and Risk Management System for Chinese Bonds PRIVATE EQUITY REVIEW PRIVATE EQUITY REVIEW CONTENTS EDITORIAL BOARD Darrell Duffie, Stanford University MESSAGE FROM THE EDITORS Quanjian Gao (Editor-in-Chief), GOSS Institute of Research COVER ARTICLE Management Ltd. 01 Exploring the Business Model of Jeff Hong (Co-Editor), China’s Private Equity/Venture Capital (PE/VC) City University of Hong Kong Fund of Funds (FOF) Investments Li Jin, Haitao Jin Oxford University Steven Kou (Co-Editor), ACADEMIC INSIGHTS National University of Singapore 10 New Findings on Japan’s Capital Market: Neng Wang, A Study on Japan Post Group’s Successful Columbia University Transformation Through Capital Market Houmin Yan, Katahira Masaki City University of Hong Kong Lin Zhou, CASE STUDY Shanghai Jiao Tong University 22 Will Private Equity (PE) Firms Continue to Invest in China’s Auto Consumption and Sales Industry? Yankun Hou ADVISORY BOARD 32 Quantitative Methods for Venture Capital Investment Weijian Shan,
  • Institutional Investor Study 2019

    Institutional Investor Study 2019

    Institutional Investor Study 2019 Geopolitics and investor expectations Marketing material for professional investors and advisers only Schroders Institutional Investor Study 2019 | Geopolitics and investor expectations 01 Contents 02 Executive summary 10 Investment goals • Generating income comes out on top 03 Portfolio performance Increasing allocations to fixed income • Geopolitical concerns dominate the investment landscape 12 Growing appetite for innovation • The quest for new, customised solutions 05 Return expectations • De-risking through LDI • Optimistic return expectations despite an uncertain landscape 14 Risk management strategies • The dominance of diversification 08 Staying strategic • Strategic asset allocation 16 About the Study driving decision making • Focus on long-term holding periods Schroders Institutional Investor Study 2019 | Geopolitics and investor expectations 02 Executive summary Geopolitical turbulence and the threat of a However, the most important investment Schroders’ third annual global economic slowdown are seen as the objective for investors for the next most important influences on a portfolio’s 12 months is meeting income and yield investment performance for the next 12 requirements (66%). Capital preservation Institutional Investor Study months. Since our inaugural Study in 2017, and generating high risk-adjusted returns we have seen investors become more rank second and third, illustrating how This Study analyses the investment perspectives of 650 institutional concerned about how world events are institutions are looking to more defensive investors, collectively responsible for $25.4 trillion in assets and from affecting growth (32% in 2017 vs. 52% in 2019). assets to de-risk portfolios during heightened 20 locations across the world. The Study provides a snapshot of some This is also evidenced by a steady decline in geopolitical uncertainty.
  • Manulife Asset Allocation Client Brochure

    Manulife Asset Allocation Client Brochure

    Manulife Asset Allocation Portfolios Sophisticated Investment Solutions Made Simple 1 Getting The Big Decisions Right You want a simple yet Deciding how to invest is one of life’s big decisions – effective way to invest in fact it’s a series of decisions that can have a big and Manulife Asset impact on your financial future. Allocation Portfolios It can be complicated and overwhelming, leaving you feeling uncertain offer a solution that can and anxious. The result? Many investors end up chasing fads, trends and help you get it right. short-term thinking, which can interfere with your ability to achieve long-term financial goals. As an investor, you want to make the most of your investments. You want to feel confident you’re receiving value for your money and reputable, professional advice. Big life decisions “Am I making the right investment choices?” Disappointing returns “Should I change my investing strategy?” Confusion and guesswork “How can I choose the best investment for me?” Manulife Asset Allocation Portfolios are managed by Manulife Investment Management Limited (formerly named Manulife Asset Management Limited). Manulife Asset Allocation Portfolios are available in the InvestmentPlus Series of the Manulife GIF Select, MPIP Segregated Pools and Manulife Segregated Fund Education Saving Plan insurance contracts offered by The Manufacturers Life Insurance Company. 2 Why Invest? The goal is to offset inflation and grow your wealth, while planning for important financial goals. Retirement: Canadian Education Raising a Child Pension Plan (CPP) $66,000 $253,947 $735.21 Current cost of a four-year The average cost of raising a Current average monthly payout for post-secondary education1 child from birth to age 183 new beneficiaries.
  • Private Debt in Asia: the Next Frontier?

    Private Debt in Asia: the Next Frontier?

    PRIVATE DEBT IN ASIA: THE NEXT FRONTIER? PRIVATE DEBT IN ASIA: THE NEXT FRONTIER? We take a look at the fund managers and investors turning to opportunities in Asia, analyzing funds closed and currently in market, as well as the investors targeting the region. nstitutional investors in 2018 are have seen increased fundraising success in higher than in 2016. While still dwarfed Iincreasing their exposure to private recent years. by the North America and Europe, Asia- debt strategies at a higher rate than focused fundraising has carved out a ever before, with many looking to both 2017 was a strong year for Asia-focused significant niche in the global private debt diversify their private debt portfolios and private debt fundraising, with 15 funds market. find less competed opportunities. Beyond reaching a final close, raising an aggregate the mature and competitive private debt $6.4bn in capital. This is the second highest Sixty percent of Asia-focused funds closed markets in North America and Europe, amount of capital raised targeting the in 2017 met or exceeded their initial target credit markets in Asia offer a relatively region to date and resulted in an average size including SSG Capital Partners IV, the untapped reserve of opportunity, and with fund size of $427mn. Asia-focused funds second largest Asia-focused fund to close the recent increase in investor interest accounted for 9% of all private debt funds last year, securing an aggregate $1.7bn, in this area, private debt fund managers closed in 2017, three-percentage points 26% more than its initial target.
  • Form 3 FORM 3 UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C

    Form 3 FORM 3 UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C

    SEC Form 3 FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF OMB Number: 3235-0104 Estimated average burden SECURITIES hours per response: 0.5 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 1. Name and Address of Reporting Person* 2. Date of Event 3. Issuer Name and Ticker or Trading Symbol Requiring Statement EASTMAN KODAK CO [ EK ] Chen Herald Y (Month/Day/Year) 09/29/2009 (Last) (First) (Middle) 4. Relationship of Reporting Person(s) to Issuer 5. If Amendment, Date of Original Filed C/O KOHLBERG KRAVIS ROBERTS & (Check all applicable) (Month/Day/Year) CO. L.P. X Director 10% Owner Officer (give title Other (specify 2800 SAND HILL ROAD, SUITE 200 below) below) 6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person (Street) MENLO Form filed by More than One CA 94025 Reporting Person PARK (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned 1. Title of Security (Instr. 4) 2. Amount of Securities 3. Ownership 4. Nature of Indirect Beneficial Ownership Beneficially Owned (Instr. 4) Form: Direct (D) (Instr. 5) or Indirect (I) (Instr. 5) Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and 3. Title and Amount of Securities 4. 5. 6. Nature of Indirect Expiration Date Underlying Derivative Security (Instr. 4) Conversion Ownership Beneficial Ownership (Month/Day/Year) or Exercise Form: (Instr.
  • Private Equity Spotlight January 2007 / Volume 3 - Issue 1

    Private Equity Spotlight January 2007 / Volume 3 - Issue 1

    Private Equity Spotlight January 2007 / Volume 3 - Issue 1 Welcome to the latest edition of Private Equity Spotlight, the monthly newsletter from Private Equity Intelligence, providing insights into private equity performance, investors and fundraising. Private Equity Spotlight combines information from our online products Performance Analyst, Investor Intelligence and Funds in Market. FEATURE ARTICLE page 01 INVESTOR SPOTLIGHT page 10 Overhang, what overhang? The favourable market and difficulty of getting allocations to With 2006’s $404 billion smashing all previous records for top quartile funds has led to increased LP interest in Asian private equity fund raising, some commentators are suggesting focused funds. We look at LPs investing in these funds. that there is now an ‘overhang’ of committed capital that the industry may struggle to invest. The facts suggest otherwise. • How do LPs perceive Asian focused funds? PERFORMANCE SPOTLIGHT page 05 • Who is making the most Growth in distributions to LPs and the rate of call-ups are significant investments? driving the fundraising market. Performance Spotlight looks at the trends. • Which types of investor are the most active? FUND RAISING page 06 After a record breaking year for fundraising in 2006, we • How much is being committed examine the latest news for venture and buyout funds, as well to the region? as examining the market for first-time fund vehicles. No. of Funds on INVESTOR NEWS page 12 US Europe ROW Road All the latest news on investors in private equity: Venture 202 97 83 382 • State of Wisconsin Investment Board posts high returns Buyout 100 48 36 184 boosted by its private equity portfolio Funds of Funds 65 47 12 124 • Somerset County Council Pension Fund seeks new fund of Other 129 31 42 202 funds manager • LACERA looks for new advisor Total 496 223 173 892 • Indiana PERF is set to issue real estate RFPs SUBSCRIPTIONS If you would like to receive Private Equity Spotlight each month • COPERA close to appointing new alternatives chief.
  • The Securities and Exchange Commission Has Not Necessarily Reviewed the Information in This Filing and Has Not Determined If It Is Accurate and Complete

    The Securities and Exchange Commission Has Not Necessarily Reviewed the Information in This Filing and Has Not Determined If It Is Accurate and Complete

    The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. OMB APPROVAL UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB 3235- Washington, D.C. 20549 Number: 0076 FORM D Estimated average Notice of Exempt Offering of Securities burden hours per 4.00 response: 1. Issuer's Identity Previous CIK (Filer ID Number) X None Entity Type Names 0000031235 X Corporation Name of Issuer Limited Partnership EASTMAN KODAK CO Limited Liability Company Jurisdiction of General Partnership Incorporation/Organization Business Trust NEW JERSEY Other (Specify) Year of Incorporation/Organization X Over Five Years Ago Within Last Five Years (Specify Year) Yet to Be Formed 2. Principal Place of Business and Contact Information Name of Issuer EASTMAN KODAK CO Street Address 1 Street Address 2 343 STATE ST City State/Province/Country ZIP/PostalCode Phone Number of Issuer ROCHESTER NY 14650 7167244000 3. Related Persons Last Name First Name Middle Name Berman Robert L. Street Address 1 Street Address 2 343 State Street City State/Province/Country ZIP/PostalCode Rochester NY 14650 Relationship: X Executive Officer Director Promoter Clarification of Response (if Necessary): Last Name First Name Middle Name Faraci Philip J. Street Address 1 Street Address 2 343 State Street City State/Province/Country ZIP/PostalCode Rochester NY 14650 Relationship: X Executive Officer Director Promoter Clarification of Response (if Necessary): Last Name First Name Middle Name Haag Joyce P. Street Address 1 Street Address 2 343 State Street City State/Province/Country ZIP/PostalCode Rochester NY 14650 Relationship: X Executive Officer Director Promoter Clarification of Response (if Necessary): Last Name First Name Middle Name Kruchten Brad W.
  • Capstone Headwaters Education Technology M&A Coverage Report

    Capstone Headwaters Education Technology M&A Coverage Report

    Capstone Headwaters EDUCATION TECHNOLOGY 2019 YEAR IN REVIEW TABLE OF CONTENTS MERGER & ACQUISTION OVERVIEW M&A Overview The Education Technology (EdTech) industry has continued to experience rapid consolidation with 195 transactions announced or completed in 2019. Active Buyers Heightened merger and acquisition (M&A) activity has been fueled by Notable Transactions persistent demand for disruptive and scalable technology as industry operators Select Transactions seek to expand product offerings and market share. In addition to robust transaction activity, recent investment patterns have targeted EdTech providers Public Company Data that offer innovative products for classroom teacher support and to streamline Firm Transactions in Market administrative operations in K-12 schools. Funding in the segment has risen Firm Track Record substantially with teacher needs and school operations garnering $95 million and $148 million in 2018, respectively, according to EdSurge.1 Large industry operators have remained acquisitive through year-end, evidenced by Renaissance Learning’s three acquisitions (page three) in 2019. CONTRIBUTORS EdTech providers have also utilized M&A as a means to diversify product offerings and end-markets outside of their core competencies. Notably, Health Jacob Voorhees & Safety Institute, a leader in environmental health and safety software and Managing Director, training services, acquired Martech Media, Inc, a provider of industrial Head of Education Practice, technology e-learning training solutions (December 2019, undisclosed). Head of Global M&A 617-619-3323 Private equity firms have remained active in the industry, accounting for 52% of [email protected] transaction volume. Operators that provide disruptive platforms and institutional business models, selling directly to schools districts, have garnered David Michaels significant investment interest and premium valuations.
  • CAFR) of the State Retirement Systems Administered by the Department of Management Services, Division of Retirement (Division)

    CAFR) of the State Retirement Systems Administered by the Department of Management Services, Division of Retirement (Division)

    Florida Retirement System Pension Plan And Other State Administered Systems Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2020 This aerial view shows the Lower Florida Keys, near Big Pine Key, FL, known for their pristine environment and eco-friendly attractions. The Lower Keys are home to two national wildlife refuges, a portion of a national marine sanctuary and a state park, and are surrounded by a marine environment fi lled with abundant terrestial and marine life. This photograph is courtesy of Andy Newman with the Florida Keys News Bureau. Division of Retirement Toll Free: 844-377-1888 P.O. Box 9000 Local: 850-907-6500 Tallahassee, FL 32399-9000 TTY: 800-955-8771 www.frs.myfl orida.com Ron DeSantis, Governor Jonathan Satter, Secretary David DiSalvo, State Retirement Director This report has been prepared by the Department of Management Services Division of Retirement. The photographs used throughout this report highlight various islands around the State of Florida. On the cover is a photograph of Amelia Island, courtesy of Amelia Island Convention & Visitor Bureau. Intentionally Left Blank 2 TABLE OF CONTENTS INTRODUCTORY SECTION .................................................................................................................................................................... 7 Transmittal Letter .................................................................................................................................................................................. 8 Management Staff .............................................................................................................................................................................
  • Partners Group Private Equity (Master Fund)

    Partners Group Private Equity (Master Fund)

    SECURITIES AND EXCHANGE COMMISSION FORM N-Q Quarterly schedule of portfolio holdings of registered management investment company filed on Form N-Q Filing Date: 2017-02-28 | Period of Report: 2016-12-31 SEC Accession No. 0001398344-17-002471 (HTML Version on secdatabase.com) FILER Partners Group Private Equity (Master Fund), LLC Mailing Address Business Address 1114 AVENUE OF THE 1114 AVENUE OF THE CIK:1447247| IRS No.: 800270189 | State of Incorp.:DE | Fiscal Year End: 0331 AMERICAS AMERICAS Type: N-Q | Act: 40 | File No.: 811-22241 | Film No.: 17644875 37TH FLOOR 37TH FLOOR NEW YORK NY 10036 NEW YORK NY 10036 212-908-2600 Copyright © 2017 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-22241 Partners Group Private Equity (Master Fund), LLC (Exact name of registrant as specified in charter) 1114 Avenue of the Americas, 37th Floor New York, NY 10036 (Address of principal executive offices) (Zip code) Robert M. Collins 1114 Avenue of the Americas, 37th Floor New York, NY 10036 (Name and address of agent for service) Registrant's telephone number, including area code: (212) 908-2600 Date of fiscal year end: March 31 Date of reporting period: December 31, 2016 Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5).