DOCSLIB.ORG

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

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

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
Recommended publications
  • HW&Co. Landscape Industry Reader Template

    HW&Co. Landscape Industry Reader Template

    TECHNOLOGY, MEDIA, & TELECOM QUARTERLY SOFTWARE SECTOR REVIEW │ 3Q 2016 www.harriswilliams.com Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business. TECHNOLOGY, MEDIA, & TELECOM QUARTERLY SOFTWARE SECTOR REVIEW │ 3Q 2016 HARRIS WILLIAMS & CO. OVERVIEW HARRIS WILLIAMS & CO. (HW&CO.) GLOBAL ADVISORY PLATFORM CONTENTS . DEAL SPOTLIGHT . M&A TRANSACTIONS – 2Q 2016 KEY FACTS . SOFTWARE M&A ACTIVITY . 25 year history with over 120 . SOFTWARE SECTOR OVERVIEWS closed transactions in the . SOFTWARE PRIVATE PLACEMENTS last 24 months OVERVIEW . SOFTWARE PUBLIC COMPARABLES . Approximately 250 OVERVIEW professionals across seven . TECHNOLOGY IPO OVERVIEW offices in the U.S. and . DEBT MARKET OVERVIEW Europe . APPENDIX: PUBLIC COMPARABLES DETAIL . Strategic relationships in India and China HW&Co. Office TMT CONTACTS Network Office UNITED STATES . 10 industry groups Jeff Bistrong Managing Director HW&CO. TECHNOLOGY, MEDIA & TELECOM (TMT) GROUP FOCUS AREAS [email protected] Sam Hendler SOFTWARE / SAAS INTERNET & DIGITAL MEDIA Managing Director [email protected] . Enterprise Software . IT and Tech-enabled . AdTech and Marketing . Digital Media and Content Services Solutions Mike Wilkins . Data and Analytics . eCommerce Managing Director . Infrastructure and . Data Center and . Consumer Internet . Mobile [email protected] Managed Services Security Software EUROPE Thierry Monjauze TMT VERTICAL FOCUS AREAS Managing Director [email protected] . Education . Fintech . Manufacturing . Public Sector and Non-Profit . Energy, Power, and . Healthcare IT . Professional Services . Supply Chain, Transportation, TO SUBSCRIBE PLEASE EMAIL: Infrastructure and Logistics *[email protected] SELECT RECENT HW&CO.
  • Education Technology & Services Market

    Education Technology & Services Market

    Market Update Education Key Highlights The top subsector stock performer in Q4 2019 Technology was digital educational content & services, up 13.7% year-over-year & Services On average, EBITDA multiples for the subsectors decreased 0.5x from the prior quarter and were Q4 2019 down 0.8x on a year-over-year basis 2020 Forecast…Sustained Robust Deal Activity Focused on High Quality Assets and Strong Outcomes-Driven Business Models For several years now, we have been predicting continued consolidation within the education technology and services market. Merger and acquisition activity of all types within the sector has been robust, with overall transaction volumes repeatedly surpassing year-over-year levels by healthy margins. Even with ongoing strategic consolidation in the space, ever-increasing private equity interest in the education sector has been the primary driver of continued strong transaction levels and increasing valuations. A record amount of available capital, or “dry powder,” and elevated interest in software-as-a-service (“SaaS”) business models were the primary underlying factors driving private equity interest levels in ed tech businesses. Interest in high quality education providers has also been robust, underpinned by strong outcome-driven theses behind businesses built to solve the “achievement gap” and/or “skills gap” problem with a keen focus on value proposition to the consumer. In the early childhood segment, activity levels remain high, driven by continued professionalization and consolidation within an otherwise highly fragmented global market. And in the proprietary postsecondary sector, after a “decade of pain,” M&A has made a comeback with several new investments by private equity investors seeking premium operators in markets with strong supply/ demand imbalances.
  • Ubs India Securities Private Limited

    Ubs India Securities Private Limited

    Swiss_company in India_Book fin.qxd 3/17/07 5:25 PM Page 92 UBS INDIA SECURITIES PRIVATE LIMITED UBS is one of the leading financial firms in the world, Swiss business unit network ran to 357 branches with offices in 50 countries and business organised with a further 82 branches abroad. into key distinct areas of equities - fixed income, rates and currencies, and investment banking On 3rd November 2000, UBS AG merged with PaineWebber Inc., a full-service securities firm Global Overview of UBS AG located in New York and founded in 1879. UBS AG was created on July 1, 1998, with the Today UBS is one of the leading financial firms merger of Union Bank of Switzerland (based in the world, serving discerning clients globally. in Zurich) and Swiss Bank Corporation (based in As an organisation, it combines financial strength Basel). Swiss Bank Corporation (SBC) was founded with an international culture that embraces change. in 1872 under the name Basler Bankverein and in An integrated firm, UBS creates added value for 1945 it took over the troubled Basler Handelsbank, clients by drawing on the combined resources and one of Switzerland's large banks, founded in 1862. expertise of all its businesses. It is the leading global In the last decade of the twentieth century, SBC wealth manager, a top-tier investment banking and strengthened its international orientation again securities firm, and one of the largest global asset by taking over several foreign finance firms managers. (O'Connor & Associates, Chicago; Brinson Partners, Inc., Chicago; S.G.Warburg Plc, London). UBS Investment Bank is headquartered in London By 1997, the Swiss network comprised 288 and New York and employs 18,200 people in branches with 77 offices outside Switzerland.
  • Benjamin M. Weadon Senior Associate

    Benjamin M. Weadon Senior Associate

    Benjamin M. Weadon Senior Associate 704.444.1082 [email protected] Charlotte | Bank of America Plaza, 101 South Tryon Street, Suite 4000 | Charlotte, NC 28280-4000 Ben Weadon is a senior associate with Alston & Bird’s Corporate & Business Transactions Group. He advises private equity firms and their portfolio companies from coast to coast on leveraged buyouts, growth equity investments, merger and acquisition transactions, and general corporate matters. Ben has advised on deals in various industries, including software, semiconductor, telecommunications, and fleet management. Ben received his J.D., with high honors, from the University of North Carolina School of Law, where he was elected to the Order of the Coif. In law school, Ben was the executive editor of the North Carolina Banking Institute Journal. Ben received a B.A. in history, cum laude, from Duke University. Representative Experience Represented CommScope Holding Company Inc. in its $7.4 billion acquisition of ARRIS International plc. Represented The Carlyle Group in its $7.4 billion acquisition of Veritas, an information management system provider, from Symantec Corporation. Represented CommScope Holding Company Inc. in its $3 billion acquisition of TE Connectivity’s telecom, enterprise, and wireless businesses. Represented an entity controlled by The Carlyle Group in the acquisition of the Compute business of MACOM Technology Solutions and related joint venture with Oracle Corporation. Represented The Carlyle Group in its investment in ProKarma, a high-growth IT services firm. Represented Ridgemont Equity Partners in its acquisition of Munch’s Supply, a leading wholesale distributor of heating, ventilation, and air conditioning (HVAC) equipment. Represented Ridgemont Equity Partners in its acquisition of Dickinson Fleet Services, a technology-enabled service provider in the vehicle fleet maintenance industry.
  • Private Equity Overview

    Private Equity Overview

    Private Equity Overview Faegre Drinker’s national private equity practice FOCUSED on the has the experience to deliver success in large, middle market sophisticated transactions, as well as the agility and rate structure to equally excel in smaller transactions. Our private equity team is a core part of our 175-lawyer M&A practice, which over the past three years has OVER 175 dedicated closed over 725 deals with an aggregate value of over $100 billion. M&A professionals We know the private equity deal market, and we understand and apply the latest structures, strategies and practices for private equity deals, with extensive OVER 725 M&A deals experience on both the buy-side and the sell-side. We deliver value in advising funds, management, over the past three years co-investors and portfolio companies throughout the private equity life cycle. From acquisitions, to minority and control investments, day-to-day counseling, add- on acquisitions, recapitalizations and restructurings, OVER $100 BILLION and ultimately to the array of exit events, we provide aggregate deal value practical guidance and solutions throughout the full over the past three years range of opportunities and issues. We team with our national-level fund formation and governance professionals to offer additional levels of insight and experience, and we capitalize on the knowledge of our over 1,300 attorneys, consultants and professionals to deliver top-level value and results. Our team represents clients and leads transactions across a wide range of industries, including Sources say the group is manufacturing, consumer and retail, insurance, food and beverages, sports and entertainment, industrials, ‘excellent technically and, from a transportation and logistics, communications and media, health care, life sciences, education, financial customer service perspective, goes services, and technology.
  • Philadelphia Investment Trends Report

    Philadelphia Investment Trends Report

    Venture impact Technology investment in the Greater Philadelphia region Trends and highlights, January 2008 to June 2013 Innovation, investment and opportunity On behalf of EY, Ben Franklin Technology Partners of Southeastern Pennsylvania and the Greater Philadelphia Alliance for Capital and Technologies (PACT), we are pleased to present this review 421 companies of technology investment trends and highlights in the Greater Philadelphia region. $4.1 billion The technology investment community in the Greater Philadelphia region includes a wide variety of funding sources supporting a diverse array of companies and industry sectors. In this report, Total investment since we’ve analyzed more than a thousand investment rounds and January 2008 exits that occurred in the Philadelphia region since 2008 – including investments from venture capital fi rms (VCs), angel investors (Angels), corporate/strategic investors, seed funds, accelerators and other sources of funding. As shown in this report, 2012 reversed a post-recession slowdown in venture funding in Greater Philadelphia, and to date, 2013 has brought a welcome increase in the amount of new funds available at regional investment fi rms. These are positive signs for our region’s technology companies, as are the increasing number of exits via IPO and acquisition, which serve as further validation of the investment opportunities created by our region’s growing technology sector. We encourage you to explore this report, and we hope that it will provide useful insights into the current state of
  • BMO Private Equity Trust PLC

    BMO Private Equity Trust PLC

    BMO Private Equity Trust PLC Annual Report and Accounts 31 December 2019 BMO Private Equity Trust PLC Celebrating1 | BMO Private 20 Equity years Trust PLC– 1999 to 2019 Report and Accounts 2019 | PB 2 | BMO Private Equity Trust PLC Report and Accounts 2019 | 1 Overview Overview Contents Chairman’s statement Strategic Auditor’s Report Overview Independent Auditor’s Report 40 Company Overview 2 Report Financial Highlights 3 Summary of Performance 4 Financial Report Statement of Comprehensive Income 46 5 Balance Sheet 47 Chairman’s Statement Statement of Changes in Equity 48 Governance Statement of Cash Flows 49 Strategic Report Notes to the Financial Statements 50 Strategic Report – Introduction 7 M DisclosuresAIF 63 Principal Policies 9 Report Promoting the Success and Sustainability of the Company 11 Sustainability and ESG 12 Annual General Meeting Key Performance Indicators 13 Notice of Annual General Meeting 64 Investment Manager 14 Investment Manager’s Review 15 Other Information Auditor’s Shareholder Information 69 Portfolio Summary 19 Top Ten Holdings 20 History 70 Report Portfolio Holdings 22 Historical Record 70 Principal Risks 24 Alternative Performance Measures 71 Glossary of Terms 73 Governance Report w Ho to Invest 75 Corporate Information 76 d of BoarDirectors 26 Financial Report of the Directors 27 Report Corporate Governance Statement 31 Report of the Audit Committee 33 Report of the Nomination Committee 35 Directors’ Remuneration Report 36 Report of the Management Engagement Committee 38 Statement of Directors’ Responsibilities 39 AGM Other Information 2 | BMO Private Equity Trust PLC Report and Accounts 2019 | 1 185155 PET AR19 PRINT.indd 1 16/04/2020 13:58 BMO Private Equity Trust PLC Company Overview The Company BMO Private Equity Trust PLC (‘the Company’) is an investment trust and its Ordinary Shares are traded on the Main Market of the London Stock Exchange.
  • Annual Report

    Annual Report

    Building Long-term Wealth by Investing in Private Companies Annual Report and Accounts 12 Months to 31 January 2021 Our Purpose HarbourVest Global Private Equity (“HVPE” or the “Company”) exists to provide easy access to a diversified global portfolio of high-quality private companies by investing in HarbourVest-managed funds, through which we help support innovation and growth in a responsible manner, creating value for all our stakeholders. Investment Objective The Company’s investment objective is to generate superior shareholder returns through long-term capital appreciation by investing primarily in a diversified portfolio of private markets investments. Our Purpose in Detail Focus and Approach Investment Manager Investment into private companies requires Our Investment Manager, HarbourVest Partners,1 experience, skill, and expertise. Our focus is on is an experienced and trusted global private building a comprehensive global portfolio of the markets asset manager. HVPE, through its highest-quality investments, in a proactive yet investments in HarbourVest funds, helps to measured way, with the strength of our balance support innovation and growth in the global sheet underpinning everything we do. economy whilst seeking to promote improvement in environmental, social, Our multi-layered investment approach creates and governance (“ESG”) standards. diversification, helping to spread risk, and is fundamental to our aim of creating a portfolio that no individual investor can replicate. The Result Company Overview We connect the everyday investor with a broad HarbourVest Global Private Equity is a Guernsey base of private markets experts. The result is incorporated, London listed, FTSE 250 Investment a distinct single access point to HarbourVest Company with assets of $2.9 billion and a market Partners, and a prudently managed global private capitalisation of £1.5 billion as at 31 January 2021 companies portfolio designed to navigate (tickers: HVPE (£)/HVPD ($)).
  • 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.
  • TRS Contracted Investment Managers

    TRS Contracted Investment Managers

    TRS INVESTMENT RELATIONSHIPS AS OF DECEMBER 2020 Global Public Equity (Global Income continued) Acadian Asset Management NXT Capital Management AQR Capital Management Oaktree Capital Management Arrowstreet Capital Pacific Investment Management Company Axiom International Investors Pemberton Capital Advisors Dimensional Fund Advisors PGIM Emerald Advisers Proterra Investment Partners Grandeur Peak Global Advisors Riverstone Credit Partners JP Morgan Asset Management Solar Capital Partners LSV Asset Management Taplin, Canida & Habacht/BMO Northern Trust Investments Taurus Funds Management RhumbLine Advisers TCW Asset Management Company Strategic Global Advisors TerraCotta T. Rowe Price Associates Varde Partners Wasatch Advisors Real Assets Transition Managers Barings Real Estate Advisers The Blackstone Group Citigroup Global Markets Brookfield Asset Management Loop Capital The Carlyle Group Macquarie Capital CB Richard Ellis Northern Trust Investments Dyal Capital Penserra Exeter Property Group Fortress Investment Group Global Income Gaw Capital Partners AllianceBernstein Heitman Real Estate Investment Management Apollo Global Management INVESCO Real Estate Beach Point Capital Management LaSalle Investment Management Blantyre Capital Ltd. Lion Industrial Trust Cerberus Capital Management Lone Star Dignari Capital Partners LPC Realty Advisors Dolan McEniry Capital Management Macquarie Group Limited DoubleLine Capital Madison International Realty Edelweiss Niam Franklin Advisers Oak Street Real Estate Capital Garcia Hamilton & Associates
  • UBS AG (Registrant’S Name)

    UBS AG (Registrant’S Name)

    6-K Page 1 of 5 6-K 1 d642077d6k.htm 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: December 5, 2013 Commission File Number: 1-15060 UBS AG (Registrant’s Name) Bahnhofstrasse 45, Zurich, Switzerland, and Aeschenvorstadt 1, Basel, Switzerland (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F ! This Form 6-K consists of the news release of UBS AG, which appears immediately following this page. http://www.sec.gov/Archives/edgar/data/1114446/000119312513462992/d642077d6k... 13/12/2013 6-K Page 2 of 5 UBS announces changes to Group Executive Board and Corporate Center Zurich/Basel | 05 Dec 2013, 06:45 | Price Sensitive Information John Fraser to retire as CEO Global Asset Management business, retaining his position as its Chairman, Ulrich Koerner to become CEO Global Asset Management, Tom Naratil to become Group Chief Operating Officer in addition to current position as Group Chief Financial Officer. Zurich/Basel, 05 December 2013 – UBS today announced a number of changes to its senior leadership team and Corporate Center structure. John Fraser, who has been Chairman and CEO Global Asset Management since 2001, has decided to retire from his CEO role and as a member of UBS’s Group Executive Board, effective 31 December 2013. This follows a long and distinguished career at UBS and in finance which began in the Australian Treasury and has spanned five decades.
  • Before the FEDERAL COMMUNICATIONS COMMISSION Washington, D.C

    Before the FEDERAL COMMUNICATIONS COMMISSION Washington, D.C

    Before the FEDERAL COMMUNICATIONS COMMISSION Washington, D.C. 20554 In the Matter ofthe Application of SinglePipe Communications, Inc., Transferor, ALEC, Inc., Licensee ... ., --, and Integrated Broadband Services, LLC, Transferee For grant of authority pursuant to Section 214 ofthe Communications Act of 1934, as amended, and Section 63.04 ofthe Commission's Rules to Transfer Control of ALEC, Inc. I. INTRODUCTION A. Summary ofTransaction SinglePipe Communications, Inc. ("SinglePipe" or "Transferor"), ALEC, Inc. ("ALEC" or "Licensee") and Integrated Broadband Services, LLC ("IBBS" or "Transferee") (collectively, "Applicants"), through their undersigned l:ounsel and pursuant to Section 214 of the Communications Act, as amended l and Section 63.04 of the Commission's rules,2 respectfully request Commission approval to transfer control of Li>:ensee to Transferee. Licensee is a non- dominant carrier holding blanket domestic 214 authorization from the Commission to provide interstate telecommunications services under Section 63.01 ofthe Commission's ruIes.3 1 47 U.S.C. § 214. 2 47 C.F.R. § 63.04. 3 47 C.F.R. § 63.01. 1 DWT 14804192v2 0102461.QODOOl B. Request for Streamlined Processing Applicants respectfully submit that this application is eligible for presumptive streamlined processing under Section 63.03(b)(l)(ii) of the Commission's rules because the Transferee is not a telecommunications provider. 4 II. DESCRIPTION OF THE APPLICANTS A. Transferor and Licensee SinglePipe is a Kentucky corporation with its principal place of business at 11492 Bluegrass Parkway, Louisville, KY 40299, and is the direct, 100% parent of ALEC. SinglePipe is not a regulated telecommunications entity in any state, and has no subsidiaries, other than ALEC, that are regulated telecommunications entities.