DOCSLIB.ORG

Healthinvestor Power fifty 2014 the Healthcare Industry’S Most Influential Leaders Most Industry’S Healthcare the Strategy Consulting L Commercial Due Diligence

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Healthinvestor Power fifty 2014 the Healthcare Industry’S Most Influential Leaders Most Industry’S Healthcare the Strategy Consulting L Commercial Due Diligence HealthInvestor power fifty 2014 The healthcare industry’s most influential leaders most industry’s healthcare The Strategy consulting l Commercial due diligence Dedicated specialists in health, social care and special education Our recent transactions Vendor commercial due diligence Vendor quality & compliance due diligence Nurse Plus for Key Capital Partners Tracscare for Sovereign Capital Investor commercial due diligence Refinancing commercial due diligence Choice Care Group for Caledonia Eden Futures Investments Investor commercial due diligence Vendor commercial due diligence Castlebeck for Danshell group European Care Group Investor commercial due diligence Investor commercial due diligence CuroCare for Lyceum Capital Creative Care for Spring Ventures t I +44 (0)20 7371 8142 www.connell-consulting.com CC Advert A5.indd 1 23/10/2014 15:16 1 CHAI PATEL, chairman, HC-One The purchase of HC One and the NHP estate by a consortium led by US private equity firm Formation Capital, investment firm Safanad, US REIT HCP and Chai Patel’s Court Cavendish marked a watershed moment for the healthcare, and the latest chapter in an extraordinary career in the care sector. The deal was remarkable for a number of reasons – not least the international capital behind it – but perhaps its greatest significance is symbolic; the sale of the one-time sector behemoth NHP in many ways brought to a close the sorry chapter of the collapse of Southern Cross, a debacle the market has been trying to move past for years. Formed from the remnants of that business by its creditors in November 2011, Chai Patel and his management team at Court Cavendish were appointed to create a business out of NHP’s Southern Cross homes, stabilise occupancy and quality levels and re-establish focus and direction to a group of homes suffering from underinvestment and a lack of a collective identity. As equity partners in the business post-transaction, Chai and his team still have a number of challenges on their hands – as does any social care business that derives its revenues primarily from local authority fees in these straitened times – but his new investment partners will be hoping he can continue to apply the insight and instincts that have brought success over his long career in healthcare. Indeed, over the past 30 years, Chai has led and advised some of the largest UK care providers, including CareFirst, Westminster Health Care and the Priory Group. In 2007 Chai brought back the Court Cavendish name he established in 1988, to create a new health and social care turnaround consultancy. Chai is a fellow of the Royal College of Physicians, has been a member of government task forces for Older People & Better Regulation, and is a member of the 2013 Demos Commission on Residential Care. In 1999 Chai was awarded a CBE for services to the development of social care policies. HealthInvestor Power Fifty 2014 3 2 3 ROB ROGER, MICHAEL NEEB, chief executive, president & chief Spire Healthcare executive, HCA International Missing out on the top spot by the narrowest In an era when capital expenditure has of margins is the chief executive of Spire been hard to come by, Mike Neeb’s HCA Healthcare – Rob Roger, who has enjoyed International has set a shining example for a stellar year in 2014, leading the hospital the healthcare sector, with the London- group successfully through both the based private hospital group ploughing some Competitions & Market Authority process £500 million of investments into its tertiary and a public listing. services under his leadership. The last 12 months will no doubt have been Due to its prominence in London, HCA satisfying for Rob and his management team, has been a focal point of the Competitions & but it represents the culmination of sustained Markets Authority’s (CMA) investigation, but growth in the company. Indeed, under Rob’s Mike and his team have robustly defended guidance, EBITDAR at the group has climbed its market position, arguing that London and rapidly since 2007 with the group reporting a HCA competes in a global market driven by figure of £207.9 for the financial year ended quality and consumer choice. In January, 31 December 2013. HCA will appear before the Competition Rob’s leadership was fundamental in Appeals Tribunal and will be depending once helping Spire Healthcare float on the London again on Mike’s leadership to pinpoint where Stock Exchange, but in the last year Spire has the CMA got it wrong. also opened its first specialist radiotherapy Mike joined HCA from Ernst & Young in centre in Bristol and continued to invest in 1991 and served as chief financial officer at the overall portfolio of hospitals to grow new several different hospitals in the US, before services. moving to London in 2000 to become CFO Rob’s career spans over 25 years and of HCA International. He was subsequently includes working with Pepsico, First Choice appointed chief executive in 2006. Holidays and Merlin Entertainments. 4 HealthInvestor Power Fifty 2014 © 2013 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved. entity. a Swiss liated with KPMG International Cooperative, rms affi rm of the KPMG network independent member fi a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi KPMG LLP, © 2013 HEALTHCARE Focused on what matters Every patient is unique yet many of the challenges facing their healthcare systems are similar. In these unparalleled times, healthcare leaders require insight, guidance and delivery solutions from trusted advisors. How can we help you focus on what matters? The KPMG name, logo and “cutting through complexity” are registered trademarks or trademarks of KPMG International. CRT030246|November 2014 through complexity” are registered trademarks or of KPMG International. CRT030246|November “cutting KPMG name, logo and The Andrew Nicholson Roger Widdowson Partner Partner Corporate Finance Transaction Services Head of Healthcare UK Head of Private M&A Sector Healthcare e: Andrew.Nicholson e: Roger.Widdowson @KPMG.co.uk @KPMG.co.uk www.kpmg.co.uk/healthcare 4 5 IAN SMITH, TOM RIALL, chairman, Four chief executive, Seasons Health Care Priory Group As chairman of Four Seasons Health Care, Ian The last 12 months represented impressive Smith holds one of the highest profile – and progress for Tom Riall and Priory Group – some would argue, toughest – jobs in the which remains one of the marquee brands care sector. in the UK healthcare services sector. While Following its acquisition by Terra Firma trading at the mental health and special in 2012, Ian has overseen the restructure of education giant has improved both in terms the group into three distinct business units, of revenue and ebitda, Tom and his team each with its own management team – all raised £230 million from the insurance fund against a backdrop of ramped up regulatory M&G in a sale and leaseback transaction inspections, increasing fee and cost of six of its facilities, including its flagship pressures and a generally negative public hospital in Roehampton. perception of major care homes operators. Tom has also proved a strong and Not to mention overseeing a number of articulate voice calling for greater acquisitions for the group. partnership between the public and private The next couple of years will prove crucial sectors in UK healthcare – not least round ones for care providers and Ian’s leadership the area of community services – and should play a significant part in addressing recently announced plans to open a clinic misconceptions about the sector. in the City of London to provide outpatient Prior to joining Four Seasons Ian previously psycotherapy services to financial workers. held chief executive positions at Reed Previously, Tom spent eight years at the Elsevier, Taylor Woodrow and General Serco Group. From 2010 to 2012, he led Healthcare Group. In 2007 he published a Serco’s Global Services Division, spanning book, ‘Building a world-class National Health 12 countries and employing more than Service’ and in 2010 he completed the ‘Smith 54,000 people. Between 2005 and 2010, he Review’, commissioned by Gordon Brown, on was chief executive of Serco’s UK Central civil service reform. Government Division. 6 HealthInvestor Power Fifty 2014 6 7 PETE CALVELEY, SALEEM ASARIA, chief executive, chief executive Barchester officer, Cambian Healthcare Group When Dr Pete Calveley was confirmed as the Along with the emergence of US REITs, new chief executive of Barchester, following the reopening of the public markets for the retirement of founder Mike Parsons, healthcare services has been a major theme few people in the sector would have been of 2014 – and Saleem Asaria and his mental surprised by the choice of successor. Having health care provider Cambian set the tone announced he was leaving Four Seasons in April by announcing its merger with earlier in 2013, it was only a matter of time Advanced Childcare before floating. before Pete resurfaced in one of the top With a market capitalisation well in excess jobs in the sector – and chief executive of of £400 million, Cambian provides services Barchester certainly fits that description. for over 2,400 individuals in 249 services, At Barchester, Pete leads a dedicated working with over 140 public authorities and team of more than 17,000 staff who strive employing more than 6,000 people. to provide consistently high quality care Saleem Asaria began his career in services for more than 10,000 residents healthcare by building a family owned group across the UK. By focusing on the quality of of senior living businesses. In 2001, one of Barchester’s people, care settings, and the these businesses was merged with NHP, then individualised care delivered to its residents, the largest healthcare real estate company in Pete continues to earn the respect of the the UK.
Load more

Recommended publications
  • Staffing M&A Funders and Advisors
    Global Market Information and Forecasts Staffing M&A Funders and Advisors 2 September 2020 | Adam Pode, Director of Research (EMEA & APAC) | [email protected] M&A Funders and Advisors Directory | 2 September 2020 Introduction Use this report to identify M&A • This directory provides full records for over 30 companies operating in the M&A space funders and advisors and around the world. Some firms provide services in just one market while others provide understand the nature of their international and cross-border M&A advice and services in up to 40+ countries. They are services listed in alphabetical order, and an index is provided at the rear of this document (page 34). • An additional 115+ firms who have been identified as providing M&A services are also shown (pages 28 to 33). We have tried to make this report as exhaustive as possible, but if there are additional companies you believe should be listed, or if you would like to contribute a “full” entry within this directory, please contact the author, shown below. • This report is designed as a standalone document but can also be read in conjunction with our M&A reports which are available to subscribers of Staffing Industry Analysts’ research services. These included our interactive dashboard of staffing and workforce solutions M&A activity, which details more than 1,300 transactions in the sector. • If you are interested in joining our service or require further information, please contact Tina McGarvey at [email protected]. In addition, you can subscribe free to our Daily News, which reports deals as and when they happen, by clicking here.
    [Show full text]
  • Financialreportpdf2020.Pdf
    Finance chap 1.qxp_Layout 1 1/16/20 2:32 PM Page 1 Finance chap 1.qxp_Layout 1 1/16/20 2:32 PM Page 2 Industry Insight 4 MACROECONOMIC Set to soar: Momentum EGYPT’S FINANCE SECTOR acked by strong legislative reforms and an improving macroeconomy, Egypt’s financial sector holds a treasure chest of opportunities. The latest edition of BAmCham Egypt’s Financial Services Industry Insight looks 13 INSURANCE Still Untapped at all aspects of the sector from banks to insurance to the capital markets, and more. The issue starts with a look at the macroeconomic progress of the past three years, with the latest data from Egypt’s economic turnaround, an assessment of potential challenges and the reform plan going forward. This is followed by a chapter on the insurance sector’s growing potential and a BANKS BREWING 19 third chapter covering the key drivers behind the banking Business sector’s expanding investment. Chapters four and five offer updates on the closely related topics of financial inclusion and fintech, detailing the role of retail lending, e-banking and non-banking channels in drawing more consumers and SMEs into the financial system. Finally, chapter six has the latest on trends in the stock market, with a special look at 26 CRACKING private equity and Egypt’s new sovereign wealth fund. Consumer Credit Khaled Sewelam Director, Research and Publications FINTECH IS 34 Flourishing Amira Sheha Research Manager Fadila Noureldin Author and Senior Economic Researcher Kate Durham Editor and Head of Corporate Publications Nessim N. Hanna CAPITAL Senior Art Director 39 Crunch Emy Emile Senior Graphic Designer Verina Maher Graphic Designer Amany Kassem Advertising & Business Development Director Publications/Research EXPLOITING Lamia Seleit Sovereign Capital 45 Advertising Specialist Rowan Maamoun Advertising & Ad Traffic Coordinator Hani Elias Production Supervisor ©2019 AmCham Egypt’s Business Studies & Analysis Center.
    [Show full text]
  • Monthly M&A Insider
    QUA E D RTERLY ITION A MERGERMARKET REPORT ON GLOBAL M&A ACTIVITY MONTHLY M&A INSIDER JULY 2013 INSIDE: GLOBAL OVERVIEW LATIN AMERICA NORTH AMERICA ASIA-PACIFIC EUROPE MIDDLE EAST & AFRICA ABOUT MERRILL DATASITE AND MERRILL CORPORATION Monthly M&A Insider | July GLOBAL OVERVIEW Q2 2013 finds the global M&A climate in a state of inertia. Buyers have sought to fortify against risk at the expense of growth, which has hindered both trade sales and private equity activity. Deal volume declined 13% year-on-year (YoY) to 2,890 deals, while value dropped 15% YoY to US$480bn. Sustained activity in the Pharma, Medical & The continued importance of secondary buyouts Biotech sector A major story in Q2 2013 was the prevalence of secondary The Pharma, Medical & Biotech sector has been a fertile source buyouts. Secondary buyouts (SBOs) became increasingly of M&A throughout Q2 2013. When comparing Q2 2013 with popular in 2012, and this trend has continued into 2013. Q2 2012, the sector has decreased by a slim 5% in volume, but Exits and buyouts are down YoY in Q2 both in terms of volume by value, the sector has grown YoY by a quarter. High-value and value, but secondary buyouts’ value have increased 8% activity concentrated at the upper-end of the market took place to US$25.5bn, even as volume dropped 17% YoY to 45 deals. throughout Q2. SBOs’ increased frequency has been brought about largely by lack of better options: listing became less popular because of Much of this large-cap activity was driven by private equity instability in equity markets; and controversial valuations have players, who have been particularly active in the sector.
    [Show full text]
  • Sovereign's Capital Access Fund I, LP Form D Filed
    SECURITIES AND EXCHANGE COMMISSION FORM D Official notice of an offering of securities that is made without registration under the Securities Act in reliance on an exemption provided by Regulation D and Section 4(6) under the Act. Filing Date: 2021-06-16 SEC Accession No. 0001867553-21-000001 (HTML Version on secdatabase.com) FILER Sovereign's Capital Access Fund I, LP Mailing Address Business Address 310 S WEST STREET SUITE 310 S WEST STREET SUITE CIK:1867553| IRS No.: 000000000 | State of Incorp.:DE | Fiscal Year End: 1231 100 100 Type: D | Act: 33 | File No.: 021-403161 | Film No.: 211021346 RALEIGH NC 26703 RALEIGH NC 26703 770-331-1762 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION OMB APPROVAL OMB Number: 3235-0076 Washington, D.C. 20549 June 30, Expires: FORM D 2012 Estimated average burden hours per 4.00 Notice of Exempt Offering of Securities response: 1. Issuer's Identity CIK (Filer ID Number) Previous Name(s) ☒ None Entity Type 0001867553 ☐Corporation Name of Issuer ☒ Limited Partnership Sovereign's Capital Access Fund I, LP ☐ Limited Liability Company Jurisdiction of Incorporation/ Organization ☐ General Partnership DELAWARE ☐ Business Trust Year of Incorporation/Organization ☐Other ☐ Over Five Years Ago ☒ Within Last Five Years (Specify Year) 2021 ☐ Yet to Be Formed 2. Principal Place of Business and Contact Information Name of Issuer Sovereign's Capital Access Fund I, LP Street Address 1 Street Address 2 310 S WEST STREET SUITE 100 City State/Province/Country ZIP/Postal Code Phone No.
    [Show full text]
  • The Landscape for Impact Investing in Southeast Asia Acknowledgments
    THE LANDSCAPE FOR IMPACT INVESTING IN SOUTHEAST ASIA ACKNOWLEDGMENTS This project was generously supported by Investing in Women, an initiative of the Australian government. This report was made possible through the contributions of many individuals, both within and beyond Southeast Asia. We would especially like to thank all the interviewees that gave their time, expertise, and data during the course of this study. Without their key insights, this report would not have been possible. We would also like to thank Giselle Leung, Anantha Natalegawa, Katrina Ngo, Annie Olszewski, Aliana Pineiro, Kathryn Savasuk, Aditi Sethi, Sapna Shah, and Anil Sinha for review and input. GIIN Advisory Team Abhilash Mudaliar, Research Director Rachel Bass, Research Senior Associate Hannah Dithrich, Research Associate Jennifer Lawrence, Communications Associate Intellecap Advisory Services Mukund Prasad, Associate Partner Stefanie Bauer, Associate Partner Amar Gokhale, Manager Shreejit Borthakur, Senior Associate Harish Reddy, Senior Associate AUGUST 2018 COMMON ACRONYMS ADB Asian Development Bank IT Information Technology ANDE Aspen Network of Development LGBT Lesbian, Gay, Bisexual, and Transgender Entrepreneurs LP Limited Partner ANGIN Angel Investment Network Indonesia MFI Microfinance Institution ASEAN Association of Southeast Asian Nations NGO Non-Governmental Organisation AVPN Asian Venture Philanthropy Network OPIC Overseas Private Investment Corporation BKPM Badan Koordinasi Penanaman Modal PDR People’s Democratic Republic (Government of Indonesia’s
    [Show full text]
  • Recommended Cash Acquisition Murgitroyd Group PLC Project Petra
    256612 Petra p001-29.qxp 30/10/2019 12:17 Page 1 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. This document contains a proposal which, if implemented, will result in the cancellation of admission to trading of Murgitroyd Shares on AIM. If you are in any doubt as to the action you should take, you are recommended to seek your own independent financial advice immediately from an independent financial adviser authorised under the Financial Services and Markets Act 2000 (as amended), if you are resident in the United Kingdom, or, if not, from another appropriately authorised independent financial adviser. If you sell or have sold or otherwise transferred all of your Murgitroyd Shares, please send this document and any accompanying documents, but not the personalised Forms of Proxy, at once to the purchaser or transferee, or to the stockbroker, bank or other agent through whom the sale or transfer was effected, for delivery to the purchaser or transferee. However, such documents must not be forwarded, distributed or transmitted in, into or from any jurisdiction in which such act would constitute a violation of the relevant laws or regulations of such jurisdiction. If you sell or have sold or transferred only part of your holding of Murgitroyd Shares, please retain these documents and consult the bank, stockbroker or other agent through whom the sale or transfer was effected. If you have recently purchased or otherwise acquired Murgitroyd Shares in certificated form, notwithstanding receipt of this document and any accompanying documents from the transferor, you should contact Murgitroyd’s Registrars, Link Asset Services, at the contact details set out below, to obtain personalised Forms of Proxy.
    [Show full text]
  • Real Deals Luxembourg Edition
    THE INDEPENDENT VOICE OF EUROPEAN PRIVATE EQUITY INSIDE BVCA Summit 2020 A round up of key discussions from the BVCA Summit 2020. //realdealseucom GP Workshop How to market a fund successfully. Sink or float GPs must undertake IPOs with caution. PEA Shortlist Deal, House and Advisory awards shortlists for the Private Equity Awards. THE KEY TO LUXEMBOURG Region focus: Why Luxembourg is a fund jurisdiction of choice. RD471-01.indd 1 23/10/2020 12:19 THANK YOU FOR YOUR SUPPORT DPE IV closed at its hard cap of €1bn. We look forward to partnering with more leading Mittelstand businesses and delivering value for our investors. www.dpe.de 8566 DPE Real Deals Tombstone Ad REVISED ARTWORK.indd 1 15/10/2020 19:30 / realdealseucom & Contents 18 Q&A: Alterdomus Editorial Fund admin and PE relations; and KYC processes. Leader Talya Misiri 4 Alphabites BWAM calls on industry, Pictet’s first thematic fund 20 and more. Lightbulb Credit Comment Trade credit ratings All grown up 6 and PE-backed growth. As the industry matures, it must become BVCA Summit 2020 A roundup of key discussions more aware of the responsibility it has from the BVCA Summit 2020. 21 Webinar: Staying to make a positive impact on its ahead of the curve Tech innovation and portfolio companies, but also the world. 8 managing risks. Luxembourg rebounds and ready to lead Luxembourg accelerates 22 digitalisation and ESG Q&A: Apex in alternatives. Challenges and opportunities facing PE. onus is on private equiteers to think beyond high returns, profit and their personal gains.
    [Show full text]
  • Investment Report
    THE UNIVERSITY OF MICHIGAN REGENTS COMMUNICATION ITEM FOR INFORMATION Subject: Annual Report of Investments Background and Summary: The Annual Report of Investments, enclosed under separate cover, describes the investments of the University's financial assets. It is designed to provide meaningful context to the Board of Regents as they are asked to consider investment opportunities presented in the course of the year. ubmitted, · vi . Hegarty xecutive Vice President and Chief Financial Officer October 2015 REPORT OF INVESTMENTS 2015 1 16 INTRODUCTION Alternative Assets (Illiquid) 4 17 LONG TERM PORTFOLIO Venture Capital Background 18 6 Private Equity Asset Allocation 19 7 Real Estate Model Portfolio 20 10 Natural Resources Investment Performance 22 12 DAILY AND MONTHLY Marketable Securities PORTFOLIOS/SHORT TERM POOL Asset Allocation 13 Investment Performance Market Traded Equities 23 VERITAS 14 Asset Allocation Investment Performance Fixed Income 15 25 CONCLUSION Absolute Return 28 BENCHMARK DEFINITIONS A-1 APPENDIX: MANAGER DEFINITIONS The pictures in the report depict innovation at the University of Michigan. Cover: An MSE/BSE student runs a cylinder combustion simulation in the Michigan Immersive Digital Experience Nexus (MIDEN) at U-M’s 3D Lab. This page: The Medical Chemistry Lab in the College of Pharmacy uses specialized disciplinary approaches to focus on the ultimate Report ofgoal Investments of drug discovery. 2015 | 1 INTRODUCTION The University invests its financial assets in pools with The market value of the University’s combined cash distinct risk and liquidity characteristics based on and investments totaled $11.7 billion at June 30, 2015, specific needs, with the large majority of its financial compared to $11.6 billion at June 30, 2014, primarily assets invested in two such pools.
    [Show full text]
  • Invesco Global Sovereign Asset Management Study 2016
    Invesco Global Sovereign Asset Management Study 2016 This study is not intended for members of the public or retail investors. Full audience information is available inside the front cover. 2 Important info Welcome Summary of key themes This document is intended only for Over the past couple of years sovereigns Qualified Investors in Switzerland have been operating in an environment 1 and for Professional Clients and Financial of increased volatility, whether it be in A positive outlook in a challenging Advisers in other Continental European financial markets, commodity prices or environment countries, Dubai, Jersey, Guernsey, currencies. Low interest rates have added A sustained low oil price and falling Isle of Man, Ireland and the UK, for further complexity, however sovereign government bond yields have affected Institutional Investors in the United States investors remain broadly confident in returns but sovereigns remain confident and Australia, for Institutional Investors their position as long-term investors. and continue to take a long-term view. and/or Accredited Investors in Singapore, Our 2016 Sovereign Asset Management for Professional Investors only in Hong Study seeks to build on the findings from 2 Kong, for Qualified Institutional Investors, previous years’ studies by analysing long- Growth in sovereign real estate pension funds and distributing companies term trends as well as uncovering new investments in Japan; for Persons who are not insights from face-to-face interviews with Fewer execution challenges have made members of the public (as defined in chief investment officers or strategy unit real estate a more attractive asset class the Securities Act) in New Zealand, executives at 77 leading global sovereign to sovereign investors than infrastructure for Accredited Investors as defined under wealth funds, government pensions funds and private equity.
    [Show full text]
  • JOB Building IN-HOUSE Investment Capabilities
    AN INSIDE Building IN-HOUSE Investment JOB Capabilities Wafra Investment Advisory Group, Inc. Q4 2016 AN INSIDE JOB: BUILDING IN-HOUSE INVESTMENT CAPABILITIES Recent years have seen sovereign wealth funds (“SWFs”) in- creasingly moving away from asset managers in order to build out their own internal investment teams. The billions of dollars in outflows from external asset managers may save investors on fee payments, but building the internal capabili- ties to perform like external managers creates a host of challenges for sovereign investors. These challenges may include new governance models, institutional commitment, replicating best-in-class performance and the ability to source and compensate appropriate talent. Many sovereign and institutional investors are currently building out their internal capabilities, and this strategic change has coincided with the rise of institutional partnerships and platform investing. Leading institutions, like the Ontario Municipal Employees Retirement System (“OMERS”), Singapore’s GIC, Kuwait Investment Authority and Canada’s Caisse de Depot et Placement du Quebec (“CDPQ”) are using various types of investment platforms to share and leverage expertise, while seeking to minimize fees. From the initial decision through the final implementation, deve- loping in-house investment teams requires asset owners to assess which amount of investment independence is approp- riate for their institution. Partnerships and platform in- vesting constitute important — and potentially valuable — investment strategies for institutional investors. 2 WHY BRING INVESTMENT ACTIVITIES IN-HOUSE? As a first step towards developing in-house investment capabi- lities, SWFs need to develop clearly defined goals regarding what they hope to gain by investing directly. There are numerous potential benefits to developing internal invest- ment capabilities, which increase as an institution disinter- mediates external managers.
    [Show full text]
  • Mainepers Private Market Investments Summary: 12/31/20
    MainePERS Private Market Investments Summary: 12/31/20 Amount Total Current Market Commitment Date of Contributed Distributions Value Total Value Interim Asset Class Summary (A) Commitment (B) (C) (D) (C+D) Net IRR Alternative Credit$ 1,282,500 $ 798,698 $ 126,636 $ 798,809 $ 925,445 6.7% Infrastructure$ 2,889,675 $ 2,432,694 $ 1,517,473 $ 1,784,764 $ 3,302,237 10.4% Natural Resources$ 1,015,500 $ 951,553 $ 308,549 $ 858,396 $ 1,166,945 7.7% Private Equity $ 4,161,888 $ 3,442,756 $ 2,045,301 $ 3,343,052 $ 5,388,353 16.8% Real Estate$ 1,918,400 $ 1,590,938 $ 657,255 $ 1,436,432 $ 2,093,686 6.5% Total$ 11,267,963 $ 9,216,640 $ 4,655,213 $ 8,221,452 $ 12,876,666 Note: This Asset Class Summary table includes all private market investments: both fund investments and co‐investments. Amount Total Current Market Commitment # of Co‐ Contributed Distributions Value Total Value Interim Co‐Investment Summary (A) Investments (B) (C) (D) (C+D) Net IRR Alternative Credit Co‐Investments$ 77,500 15$ 76,174 $ 17,677 $ 69,278 $ 86,955 7.4% Infrastructure Co‐Investments$ 208,000 10$ 202,703 $ 105,936 $ 169,799 $ 275,735 7.2% Natural Resources Co‐Investments$ 32,500 2$ 27,238 $ ‐ $ 46,713 $ 46,713 36.8% Private Equity Co‐Investments$ 363,188 28$ 329,862 $ 124,074 $ 411,916 $ 535,990 19.8% Real Estate Co‐Investments$ 63,400 4$ 41,180 $ 4,160 $ 38,219 $ 42,379 3.1% Total$ 744,588 $ 677,157 $ 251,847 $ 735,925 $ 987,772 Note: This table contains values for the co‐investment portion of the private market portfolio.
    [Show full text]
  • Public Service Or Portfolio Investment??
    Public service or portfolio investment? ? How private equity funds are taking over post-secondary education ‘Private investors would love to invest in a traditional university.’ Matt Robb, Senior Principal, Parthenon Group Consultancy ‘This deal will ensure there is a well-funded charity and a successful international higher education business....With the new funding invested in the College, it will be able to build its brand, take its trusted degrees into other countries, and boost British education exports. It's an excellent outcome for every- one.’ David Willetts responding to the news that the College of Law will be bought by Montagu Private Equity, 17 April 2012 ‘Financial backing is being investigated from both banks and private equity investors, but we are focusing more closely on private equity investors as they too would bring their own ideas, commercial expertise and greater support....I am certain the students in the classroom would see no difference other than improvements.’ Pete Birkett, Principal, Barnfield College, FE Week , 20 April 2012 ‘Private equity’s undisclosed business model is value capture through financial engineering focused on the enrichment of a managerial elite, with mass investors mainly involved in providing the cheap debt which makes the whole thing possible.’ Julie Froud and Karel Williams, Private Equity and the Culture of Value Extraction , New Political Economy, 2007 ‘Some financial investors spare no thought for the people whose jobs they destroy. They remain anonymous, have no face, fall like a plague
    [Show full text]