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US Private Equity Opportunities Beirut, December 2Nd, 2013 BLOM-Quilvest Agenda

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US Private Equity Opportunities Beirut, December 2Nd, 2013 BLOM-Quilvest Agenda BLOM-Quilvest US Private Equity Opportunities Beirut, December 2nd, 2013 BLOM-Quilvest Agenda • Who is Quilvest? • What is Private Equity? • What is BLOM-Quilvest US Private Equity Opportunities? BLOM-Quilvest – Beirut, December 2nd, 2013 - 2 - BLOM-Quilvest Who is Quilvest? Quilvest is a global wealth manager and a global Organization private equity and real estate investor with more than $25 Billion under management. Quilvest Quilvest Wealth Management Quilvest Consulting Quilvest & Partners Quilvest Quilvest Banque Compagnie de Banque Private Equity Real Estate Switzerland Privée Privée Quilvest $20B of AuM $5B of AuM BLOM-Quilvest – Beirut, December 2nd, 2013 - 3 - BLOM-Quilvest Who is Quilvest? Quilvest Group has grown its assets under management Group AuM by close to 7x since 2002 (or a 19% CAGR), reaching $25B. Quilvest Group AuM, $B $25.0B $3.6B 2002 Current BLOM-Quilvest – Beirut, December 2nd, 2013 - 4 - BLOM-Quilvest Who is Quilvest? Global presence was reinforced with recent office openings Global Footprint in Europe, Asia and LatAm. Paris London Created in 1917 Created in 2007 14 specialists in Private Equity and Real Estate 4 specialists in Private 96 specialists in Private Banking and Corporate Finance Equity Luxembourg (x2) Created in 1938 Quilvest SA listed in Luxembourg CBP based in Luxembourg 100+ specialists in Private Banking and New York Administration Created in 1950 Geneva Zurich 19 specialists in Private Opened in 2012 Created in 1932 Equity and Real Estate 75 specialists in Multi Family Office 2 specialists in Private Equity Dubai Hong Kong Created in 2008 Opened in 2010 4 specialists in investments 4 specialists in Private Equity Singapore Opened by CBP in 2010 13 Trust & Wealth Advisory professionals São Paulo Created in 2012 1 specialist in Montevideo (x2) Private Equity Created in 2007 2 specialists in Private Equity 13 offices in 10 countries BLOM-Quilvest – Beirut, December 2nd, 2013 - 5 - BLOM-Quilvest Who is Quilvest? Headcount now reaches ~ 500 professionals at the Quilvest Employees level and more than 5,000 employees if we include the majority owned porfolio companies. ~500 Quilvest Group # Employees • More than 5,000 employees if we include majority owned companies ~150 • Solid presence in senior ranking 2002 Current BLOM-Quilvest – Beirut, December 2nd, 2013 - 6 - BLOM-Quilvest Who is Quilvest & Partners? Quilvest & Partners focuses on investments in funds Quilvest & Partners and directly in companies, always on a global basis. Since 1972: a pioneer Quilvest & Partners Funds Direct Private Equity Companies Real Estate Properties Top quartile High return investments Global Global BLOM-Quilvest – Beirut, December 2nd, 2013 - 7 - BLOM-Quilvest Who is Quilvest & Partners? Quilvest has one of the best investment track Track Record record in the world. (1) 10.2 ppt 19 programs over 2002-2013 • All positive returns • All expected to yield double digit returns Alpha over Public Markets (1) Net IRR of all buyout programs managed by Quilvest since 2002 (assuming $1M commitment in each program) compared to IRR implied by investments in comparable public indices at the same nd - 8 - cashflow dates BLOM-Quilvest – Beirut, December 2 , 2013 BLOM-Quilvest Who is Quilvest & Partners? Quilvest & Partners has grown its assets under management AuM Growth by a remarkable 34% CAGR since 2002. Q&P AuM, $B 5.0 4.2 3.4 3.0 2.2 2.0 1.3 0.9 0.7 0.5 0.3 0.2 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Current BLOM-Quilvest – Beirut, December 2nd, 2013 - 9 - BLOM-Quilvest Who is Quilvest & Partners? Quilvest & Partners comprises around 400 investors, up from Investor Base a single investor a decade ago. Q&P, # Investors (cumulative) 402 388 367 348 323 307 255 216 180 109 36 1 11 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 BLOM-Quilvest – Beirut, December 2nd, 2013 - 10 - BLOM-Quilvest Who is Quilvest & Partners? Although the core of Quilvest & Partners investor base Institutional Investors remains private investors, more than 25 blue-chip institutions have become investors in our private equity programs. BLOM-Quilvest – Beirut, December 2nd, 2013 - 11 - BLOM-Quilvest Who is Quilvest & Partners? Quilvest remains by far the largest investor in all Quilvest & AuM Split Partners private equity investments. Q&P AuM, $B $5.0B Third party $3.3B Shareholders $0.3B 28% Proprietary $1.4B AuM Dec. 2013 BLOM-Quilvest – Beirut, December 2nd, 2013 - 12 - BLOM-Quilvest Who is Quilvest & Partners? Quilvest & Partners’ team is also a significant investor in Team Investment all of Quilvest & Partners programs. + Team has been investing every year $5M-$7M in all of Quilvest & Partners Products BLOM-Quilvest – Beirut, December 2nd, 2013 - 13 - BLOM-Quilvest Who is Quilvest & Partners? Investment decisions reflect our principal investment Principal Investment approach. My shareholders monies. My own monies: Discipline IC process ... We are not asset gatherers. We are investors BLOM-Quilvest – Beirut, December 2nd, 2013 - 14 - BLOM-Quilvest Who is Quilvest & Partners? Quilvest & Partners intends to continue Q&P Strategy implementing its strategy going forward… BLOM-Quilvest – Beirut, December 2nd, 2013 - 15 - BLOM-Quilvest Who is Quilvest & Partners? … with a clear goal of maintaining its superior track Performance record. BLOM-Quilvest – Beirut, December 2nd, 2013 - 16 - BLOM-Quilvest Agenda • Who is Quilvest? • What is Private Equity? • What is BLOM-Quilvest US Private Equity Opportunities? BLOM-Quilvest – Beirut, December 2nd, 2013 - 17 - BLOM-Quilvest What is Private Equity? Private Equity (1/2) BLOM-Quilvest – Beirut, December 2nd, 2013 - 18 - BLOM-Quilvest What is Private Equity? Private Equity (2/2) Investing In the Equity Private Companies BLOM-Quilvest – Beirut, December 2nd, 2013 - 19 - BLOM-Quilvest What is Private Equity? Who needs Private Equity? Purpose of Private Equity Steeve Jobs Mark Zuckerberg Thomas Edison Business Idea / Plan / Concept AC/DC Private JP Morgan Dad Bank Equity Dad Bank as a Private Investors Investor BLOM-Quilvest – Beirut, December 2nd, 2013 - 20 - BLOM-Quilvest What is Private Equity? Yo! Sushi Case Study Robin Rowland 39 restaurants in 2008 Growth Capital Investors 90+ restaurants in 2013 BLOM-Quilvest – Beirut, December 2nd, 2013 - 21 - BLOM-Quilvest What is Private Equity? BBB Case Study Kamal Hatoum 2004 2005: Hard discounting stores in Mexico 0 store / 0 employees / 0 sales Investors 2013: 500 stores / 3,000 employees / $300M in sales BLOM-Quilvest – Beirut, December 2nd, 2013 - 22 - BLOM-Quilvest What is Private Equity? So what is Private Equity? A Simplified Picture Inception Early Growth Growth Maturity Private Capital Private Capital Banks Banks + + + Banks Public Equities Public Equities (IPO) (secondaries offerings) A few $K $500Bn BLOM-Quilvest – Beirut, December 2nd, 2013 - 23 - BLOM-Quilvest What is Private Equity? The roots of Private Equity can be traced back to the Industrial Revolution. The Birth True Private Equity investments gained significance in the 1960’s, 70’s and 80’s, as a new kind of managers started setting the rules and foundations of the industry. • Strong governance + alignment of interest + financial engineering = Improved operations, cash flow and value Merger between Edison • Quilvest’s first General Electric and PE investment Thomson Houston • Growth of the Electric • First LBO high-yield bond market (2) (3) (1) 1892 1917 1938 1955 1969 1970’s 1972 1976 1981 1984 1985 1890 1960 1985 (1) Launched under the name E.M. Warburg & Co (2) Launched under the name Patricof & Co (USA). Merged in 1977 with Multinational Management Group (France and UK) to form Apax (3) Launched under the name Schroder Ventures BLOM-Quilvest – Beirut, December 2nd, 2013 - 24 - BLOM-Quilvest What is Private Equity? Private Equity gained significance in the 90’s and 2000’s – The Rise not without crises and hiccups along the ride… • Quilvest’s first royalty investment • Bursting of • First PE investment by internet Bubble Calpers 2003 - 2007 • Collapse of the high- yield bond market 2001 2007 • End of first LBO boom • Largest LBO for 2006 nearly 17 years 1996 1995 2002 • KKR permanent 1992 • Launch of the vehicle IPO 1989 - 1990 1990 QS PEP program • Blackstone IPO 1989 • Quilvest opens its 1987 platform to third party investors 1985 2007 BLOM-Quilvest – Beirut, December 2nd, 2013 - 25 - BLOM-Quilvest What is Private Equity? …to become, in the late 2000’s, a major asset A Major Asset Class class and equity provider for companies around the globe. Key Figures, 2007 • Total of over $1 trillion global PE dry powder • $670Bn of global buyout volume • $250Bn of commitments to US PE partnerships • Large PE funds become significant players in the global economy - E.g. Blackstone’s consolidated portfolio generates $94Bn of annual revenues and employs 520,000 1985 2007 Sources: Private Equity Analyst, Thomson Reuters, Preqin, Mergermarket BLOM-Quilvest – Beirut, December 2nd, 2013 - 26 - BLOM-Quilvest What is Private Equity? The number of funds has dramatically increased. Number of Funds There were 23 funds greater than $1Bn in 1995, more (1/2) than 400 in 2012. Private Equity Funds Greater than $1Bn 1995 2012 Apollo Investment Fund 3i Growth Capital Fund Barclays Integrated Infrastructure Fund Charlesbank Equity Partners VII Finvest Private Equity Fund Horsley Bridge International V M atlinPatterson Global Opportunities III Pantheon Europe Fund VI Sun Capital Securities Fund II Blackstone Capital Partners AAC Capital NEBO Fund II Barclays Private Credit Partners Charterhouse
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