DOCSLIB.ORG

Stonetree Capital Advisors Fund of Funds

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Stonetree Capital Advisors Fund of Funds PRIVATE EQUITY Nebraska Investment Council Board Meeting December 13, 2018 Stonetree Capital Advisors Fund of Funds . Your Investment Portfolio contains a portfolio of 23 individual Partnership Groups managing 38 separate General Partnerships. Eleven partnerships are in there final phase prior to termination. We anticipate most of these partnerships will have their final exits in the next 12-18 months. Your Portfolio is well diversified by sector, geography and business type, with over 201 Individual Portfolio Companies owned. 1 SPC Capital Management General Partnerships Segments . Venture Capital Companies are early stage growth companies developing new products and/or technologies. You own Venture Capital Partnerships with 97 individual investments representing 31% of current market value. Buyouts are existing companies in need of capital or new managements to stimulate growth in cash flows and profits. You own Buyout Partnerships with 31 individual investments representing 33% of current market value. Special Situations include Distressed Debt and Energy Partnerships. You have 11 of these Partnerships owning approximately 73 individual companies representing 3% and 33% of current market value. 3 SPC Capital Management SPC Investment Performance SPC Capital’s investment performance inception to 6/30/18 . 17.75 Year Private Equity Performance 6.5% Annualized Return for SPC Capital (Gross Return) 5.5% Annualized Return for SPC Capital (Net Return) 4.5% Annualized Return for S&P 500 Index 4 SPC Capital Management General Partnerships Discussion of Holdings Energy Partnerships (Riverstone, 32 Degrees, Lex & Springbok) Edison Venture Partners VII (Venture Fund) Forbion Opus Ventures (Venture Fund) Terra Firma Special Opportunity Funds I & II Trinity XII Trivest Partners (Buyout Funds) 5 SPC Capital Management Active Portfolio Holdings as of 11/28/18 Realized Partnership: Committed Net Invested Market Value Gain\(Loss) Net Gain/(Loss) Return of Principal 32 Degrees Energy III $5,000,000 $4,559,366 $ 6,439,134 $ 22,781 $ 1,902,549 $ 97,053 Carlyle/Riverstone III 6,522,805 903,341 559,826 2,887,963 2,544,484 5,736,835 Dace Ventures 2,000,000 1,017,495 693,846 106,771 (216,879) 926,979 Edison Venture VI 2,500,000 395,708 953,157 149,721 707,170 2,108,157 Edison Partners VIII 7,000,000 6,370,000 8,734,984 2,364,984 First Analysis IV 4,848,112 887,659 2,299,121 1,577,052 2,988,514 3,660,453 First Analysis XII+ 5,000,000 650,000 530,499 0 (119,501) 0 Forbion Capital III 3,275,000 1,247,303 3,460,858 (8,283) 2,205,272 1,027,806 Harrington Partners 7,500,000 0 409,481 4,095,873 4,505,355 8,209,500 AEP II (FKA Kern II) 5,500,000 1,173,199 1,638,127 1,775,456 2,240,384 6,032,867 Lex Energy Partners III 4,500,000 4,002,469 6,763,084 0 2,760,615 246,215 Merced LP II 5,000,000 0 333,074 4,186,638 4,519,712 5,000,000 Merced LP III 3,500,000 83,219 1,301,596 0 1.218,377 3,841,781 Merced LP IV 1,000,000 495,595 740,155 0 244,560 504,405 Opus Capital V 5,000,000 2,042,713 2,756,110 0 713,398 2,957,297 ParkerGale Capital 5,000,000 3,921,285 4,121,597 0 200,312 714,141 Plaza Belmont III 9,192,857 6,563,037 3,154,468 0 (3,408,569) 1,516,821 Riverstone VI 7,000,000 3,975,740 5,292,012 0 1,316,272 2,231,417 Springbok Energy Fund 5,000,000 3,496,979 6,123,239 99,295 2,725,555 2,451,198 Terra Firma III 4,769,600 4,011,438 965,860 158 (3,045,420) 1,506,442 6 SPC Capital Management Active Portfolio Holdings as of 11/28/18 Realized Net Return of Partnership: Committed: Net Invested: Market Value: Gain/(Loss) Gain/(Loss) Principal TF Capital Ops Fund I 3,200,000 3,031,632 10,077,467 0 7,045,835 0 TF Capital Ops Fund II 1,890,598 1,890,598 3,157,345 0 1,266,747 0 Thayer Capital V 2,500,000 501,891 914,156 1,195,764 1,608,029 2,391,354 Trinity IX 2,500,000 0 377,559 1,169,940 1,547,499 2,498,998 Trinity XII 7,000,000 3,797,500 4,630,633 833,133 Trivest IV 3,500,000 1 219,481 5,205,043 5,424,524 3,776,545 Trivest Growth Inv. Fund 5,000,000 1,913,392 1,999,857 0 86,465 18,577 VSS 5,000,000 2,138,773 1,734,980 141,557 (262,236) 3,642,931 Totals 129,698,972 59,070,333 80,381,706 22,605,729 43,917,102 61,097,772 7 SPC Capital Management Stonetree Capital Fund IV Performance Fund IV’s investment performance inception to 6/30/18 . 7.5 Year Private Equity Performance 8.2% IRR for Fund IV Capital (Gross Return) 5.5% Annualized Return for Fund IV (Net Return) 11.3% Annualized Return for S&P 500 Index 8 Stonetree Capital Advisors General Partnerships Discussion of Holdings Bow River Energy Partnerships (32 Degrees, NGP X and Riverstone) Edison Venture Partners VII H.I.G. BioVentures First Analysis V Opus V and Opus VI Trinity XI Trivest V 9 Stonetree Capital Advisors Current Portfolio Holdings as of 11/28/18 Market Realized Net Return of Partnership: Committed Net Invested Value Gain\(Loss) Gain/(Loss) Principal 32 Degrees Energy II $ 5,000,000 $ 3,717 401 $ 2,021,680 $ 102,608 $ (1,593,113) $ 1,561,179 Bow River 2,000,000 444,916 2,135,174 1,690,258 1,318,029 Kobelt BR Co-Invest 504,421 459,135 0 (459,135) 284,670 Edison Partners VII 5,000,000 1,436,634 5,661,559 4,224,925 3,586,077 FA PE V 5,000,000 4,035,459 6,326,676 8,308 2,299,525 1,082,629 H.I.G. BioVentures 3,000,000 1,470,310 2,222,188 751,878 543,619 NGP X 5,000,000 1,649,282 2,569,703 21,968 942,389 3,137,761 Opus Capital V 1,540,445 539,209 1,102,454 2,672 565,916 1,101,236 Opus Capital VI 5,000,000 1,815,586 1,726,747 (88,839) 1,326,424 Riverstone V 5,000,000 3,213,812 4,127,689 21,576 935,453 3,713,041 Tenaska Power Fund II 6,607,889 232,324 202,616 (29,708) 5,549,050 Trinity Ventures XI 5,000,000 3,650,758 6,249,712 2,598,954 599,242 Trivest V 4.500,000 99,526 3,347,620 ___ 113,449 3,361,543 3,866,501__ Total $ 53,152,755 $ 22,764,353 $ 37,693,818 $ 270,581 $ 15,200,046 $27,569,457 10 Stonetree Capital Advisors.
Load more

Recommended publications
  • Diversity and Inclusion: the Business Case for Investors
    Diversity and Inclusion: The Business Case for Investors Moderator: Erin Shackelford, Trustee Leadership Forum for Retirement Security, Initiative for Responsible Investment, Harvard Kennedy School Presenters: Michael Garland, Assistant Comptroller for Corporate Governance and Responsible Investment, Office of the New York City Comptroller; William R. Atwood, Executive Director of the Illinois State Board of Investment; Erika Seth Davies, Director of External Affairs at ABFE; Renaye Manley, SEIU Capital Stewardship, and Jay Rehak, Trustee at the Chicago Teachers’ Pension Fund Agenda • Opening Remarks Erin Shackelford, Trustee Leadership Forum for Retirement Security, IRI, Harvard Kennedy School • Presentation: How Funds are Leading on Diverse Investments and Supporting Diverse Boards Michael Garland, Assistant Comptroller, Corporate Governance and Responsible Investment, Office of the New York City Comptroller William R. Atwood, Executive Director, Illinois State Board of Investment • Presentation: Partners for Change Erika Seth Davies, Director of External Affairs, AFBE: A Philanthropic Partnership for Black Communities Renaye Manley, Coordinator, SEIU Capital Stewardship Department • Trustee Voices: How Chicago Teachers Pension Fund Trustees Lead the Way on Diversity Jay Rehak, Trustee, Chicago Teachers Pension Fund • Questions and Comments • Next Steps: Resources for Talking About Diversity and Inclusion at Your Fund Erin Shackelford, Trustee Leadership Forum for Retirement Security, IRI, Harvard Kennedy School • Conclusion Shared Value is “creating economic value in a way that also creates value for society by addressing its needs and challenges.” Michael Porter, Harvard Business Review, January 2011 Approaches to Creating Shared Value Adapted from Values-Based Performance: Seven Strategies for Delivering Profits with Principles, by Ira Jackson and 3 Jane Nelson, December 2004 and The Inclusion Imperative: How Real Inclusion Creates Better Business and Builds Better Societies, by Stephen Frost, 2014 The Price of Unfairness “Unfairness costs U.S.
    [Show full text]
  • 1 Opus Small Cap Value Plus Etf — Fund Summary
    OPUS SMALL CAP VALUE PLUS ETF (OSCV) OPUS INTERNATIONAL SMALL/MID CAP ETF (OISC) each a series of ETF Series Solutions (each, a “Fund”, and together, the “Funds”) May 1, 2019 Supplement to the Prospectus and Statement of Additional Information (“SAI”) dated July 16, 2018 Effective immediately, Len Haussler and Adam Eagleston, the Funds’ portfolio managers, have joined Driehaus Capital Management LLC (“Driehaus”) as portfolio managers, and Driehaus has become the sub-adviser to the Funds. Messrs. Haussler and Eagleston will continue to be responsible for the day-to-day management of the Funds. All references in the Prospectus and SAI to Opus Capital Group, LLC, doing business as Opus Capital Management, as the Funds’ sub-adviser should be disregarded. The following information replaces the “Management— Investment Sub-Adviser” section on page 15 of the Prospectus: Investment Sub-Adviser Driehaus Capital Management LLC (“Driehaus” or the “Sub-Adviser”), a registered investment adviser founded in 1982, serves as investment sub-adviser to the Funds. As of March 31, 2019, the Sub-Adviser managed approximately $7.1 billion in assets. Driehaus is located at 25 East Erie Street, Chicago, Illinois 60611. Subject to the supervision and oversight of the Adviser and the Board, the Sub-Adviser provides to the Adviser investment analysis and recommendations on security selection and the rebalancing of each Fund. For the services it provides to the Funds, the Adviser pays Driehaus a management fee, which is calculated daily and paid monthly, at an annual rate based on the applicable Fund’s average daily net assets as set forth in the table below.
    [Show full text]
  • Annual Financial Report Year Ended 30 June 2015
    GARDA CAPITAL LIMITED AND SUBSIDIARIES ABN: 53 095 039 366 ANNUALFor personal use only FINANCIAL REPORT YEAR ENDED 30 JUNE 2015 For personal use only 2 | GARDA CAPITAL LIMITED AND SUBSIDIARIES ANNUAL FINANCIAL REPORT 30 JUNE 2015 CONTENTS 01 DIRECTORS’ REPORT 5 02 AUDITOR’S INDEPENDENCE DECLARATION 16 03 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 17 04 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 18 05 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 19 06 CONSOLIDATED STATEMENT OF CASH FLOWS 20 07 DIRECTORS’ DECLARATION 56 08 INDEPENDENT AUDITOR’S REPORT 57 For personal use only GARDA CAPITAL LIMITED AND SUBSIDIARIES ANNUAL FINANCIAL REPORT 30 JUNE 2015 | 3 CHAIRMAN’S LETTER Dear Shareholders, I am pleased to present the GARDA Capital Limited (GARDA or Company) annual report for 2015. The year has been full of activity where the board and executive of the Company have been able to deliver substantial outcomes for shareholders. Some of the key achievements during the year include: • The rebranding and repositioning of the Company to “GARDA”; • The $75 million recapitalisation and ASX listing of the GARDA Diversified Property Fund (GDF) of which the Company is the responsible entity; • The strategic and long-term co-investment of $10 million by the Company in GDF, aligning the interests of the Company with all unitholders of GDF. The Company is the largest single unit holder in the fund; • Board renewal during the year saw the retirement of Mr Rowan Ward after four years’ service and the appointment of two new non-executive directors, Mr Philip Lee and myself as independent chairman.
    [Show full text]
  • Hao Tian International Construction Investment
    THIS CIRCULAR IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this circular, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this circular. If you are in any doubt as to any aspect about this circular or as to the action to be taken, you should consult a licensed securities dealer, bank manager, solicitor, professional accountant or other professional adviser. If you have sold or transferred all your shares in Hao Tian International Construction Investment Group Limited, you should at once hand this circular, together with the enclosed form of proxy, to the purchaser or transferee or to the bank, licensed securities dealer or other agent through whom the sale or transfer was effected for transmission to the purchaser or transferee. This circular is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company. HAO TIAN INTERNATIONAL CONSTRUCTION INVESTMENT GROUP LIMITED 昊天國際建設投資集團有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1341) CONNECTED TRANSACTION ISSUE OF NEW SHARES UNDER THE SHARE AWARD SCHEME PURSUANT TO SPECIFIC MANDATE AND NOTICE OF EXTRAORDINARY GENERAL MEETINGS Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders A letter from the Board is set out on pages 5 to 13 of this circular. A letter from the Independent Board Committee containing its recommendation to the Independent Shareholders is set out on pages 14 to 15 of this circular.
    [Show full text]
  • More Than 2100 Companies Participated in Lendit USA
    More than 2,100 companies participated in LendIt USA 2017 in New York City. Take a look: 1966 Accenture AI Assist ALT Corp. 01Caijing Accion AIG AltBanking 1010data Accord Business Funding Akbari Advisors Alternative Banking Group 10x Future Technologies Account Technologies Akilah Institute Alternative Finance & Business 1st Merchant Funding Accountable Akouba Strategies 20 Gates Management AccountScore Aksia AltFi 21st Century ACI Worldwide Alaric Compliance Services ALTPOINT 2nd Order Solutions Acima Credit Albus Insurance Alvarez & Marsal 2River Acorns Alger AMA Recovery Group 36Kr Actual Agency Align Income Share Funding Amber Financial Services Corporation 4finance Acura Capital Aliya Capital Amblard Ventures 500 Startups Addepar Aliya Investment Management AMC Diligence 6-Figures Adelantos Capital Corp Alkanza AMDG 683 Capital Advance America Allergan American Association of Private Lenders 76 West Holdings Advance Partners Allianz Global Investors American Banker/SourceMedia 7wnews.com Advanced Call Center Allianz Life American Bankers Association 800 2Borrow Technologies Alloy American Express 805 Startups AdvisorEngine Allrise Financial Group American Family Ventures 93% Consulting Advisory Consultants Ally American First Financial A Better Medicine Aegon Asset Management AlphaFlow American Insurance Association Abbey Bishop Capital Aella Credit AlphaPack American Public Media ABE Capital AEO AlphaParity Amherst Holdings Able Lending Aeterna Capital Partners AlphaPoint Amicus Finance Plc AboutMicrofinance AFEX AlphaSights AmOne.com Acatus GmbH Affiliated Financial Services AlRaedah Finance AMTD Group ACC Affirm Alsop Louie Partners anaxi capital Accelerated Auto Lending Afluenta Alston & Bird Anbang Life Solutions Ahmadeus Technology Boutique Andalus Capital Ascend Consumer Finance AvidXchange. Banking Strategies Magazine Andela Ascension Technologies AWL Banking Technology Anderson Kill Ascentium Capital AXA Strategic Ventures Bankless Times Andrea J.
    [Show full text]
  • MGMT 804 WEMBA EAST Spring 2009 Syllabus
    Update: August 1, 2019 University of Pennsylvania The Wharton School Management Department Venture Capital and Entrepreneurial Management MGMT 804, Section 001, Q1 – Fall 2019 MW 9:00 AM – 10:20 AM MGMT 804, Section 003, Q1 – Fall 2019 MW 10:30 AM – 11:50 AM Classroom: SHDH 107 Raffi Amit The Marie and Joseph Melone Professor and Professor of Management Phone: (215) 898-7731 Email: [email protected] Web Page: https://mgmt.wharton.upenn.edu/profile/amit/ TA: Abraham Milhem Jena Email: [email protected] Course Overview and Design This elective course focuses on venture capital and the typical venture-backed start-up company, based on conventions and practices in the United States. Venture capital and the technology sector that it supports1 continue to evolve at a bewildering pace. Beginning with the dot-com bubble of 1998-2000, the industry has been buffeted by one dynamic development after another. These have included, among others, the dramatic economic upheaval in 2008-2009; the explosive growth of early stage companies with an Internet-based business model; the sharp reduction in infrastructure costs of starting up companies; the globalization of business in general; the proliferation of startups achieving “unicorn” valuations of $1 billion or more; the emergence of crowdfunding and its ultimate application in the form of the Initial Coin Offering (ICO); and accelerators/incubators as increasingly effective means of forming and funding startups. In recent years the technology sector in general was experiencing another cycle change, characterized by an unprecedented bull market in the U.S. exchanges, high valuations, large round sizes including “megadeals” of $100 million or more, and the substantial role of private secondary markets as an alternative exit outside of the traditional IPO and merger/acquisition channels.
    [Show full text]
  • MGMT 264 VC and Entrepreneurial Management
    Updated: May 23 2019 The University of Pennsylvania The Wharton School Management Department Venture Capital and Entrepreneurial Management MGMT 264 – Fall 2019 MW 1:30 pm – 3:00 pm Room: XXX Raffi Amit The Marie and Joseph Melone Professor and Professor of Management Phone: (215) 898-7731 Email: [email protected] Web Page: https://mgmt.wharton.upenn.edu/profile/amit/ TA: Abraham Milhem Email: [email protected] Course Overview and Design This elective course focuses on venture capital and the typical venture-backed start-up company, based on conventions and practices in the United States. Venture capital and the technology sector that it supports1 continue to evolve at a bewildering pace. Beginning with the dot-com bubble of 1998-2000, the industry has been buffeted by one dynamic development after another. These have included, among others, the dramatic economic upheaval in 2008-2009; the explosive growth of early stage companies with an Internet-based business model; the sharp reduction in infrastructure costs of starting up companies; the globalization of business in general; the proliferation of startups achieving “unicorn” valuations of $1 billion or more; the emergence of crowdfunding and its ultimate application in the form of the Initial Coin Offering (ICO); and accelerators/incubators as increasingly effective means of forming and funding startups. In recent years the technology sector in general has been experiencing another cycle change, characterized by an unprecedented bull market in the U.S. exchanges, high valuations, large round sizes including “megadeals” of $100 million or more, and the substantial role of private secondary markets as an alternative exit outside of the traditional IPO and merger/acquisition channels.
    [Show full text]
  • 10Th Annual BDC Roundtable
    DISCUSS AND DISCOVER 10th Annual BDC Roundtable Wednesday, September 12, 2012 SUTHERLAND ASBILL & BRENNAN LLP www.sutherland.com AGENDA SUTHERLAND ASBILL & BRENNAN LLP www.sutherland.com RONALD REAGAN BUILDING AND INTERNATIONAL TRADE CENTER 1300 PENNSYLVANIA AVENUE, NW WASHINGTON, DC 20004 Wednesday, September 12, 2012 GENERAL MEETING AGENDA 8:00 a.m. – 8:30 a.m. Continental Breakfast 8:30 a.m. – 9:15 a.m. 2012 Regulatory, Legislative and Market Overview The BDC industry has continued to evolve along with the complex regulatory landscape. Our panel will discuss where we’ve been this year, how the unsettled economic climate has affected BDCs, what the markets may bring depending on the outcome of the 2012 elections, and what we can expect to achieve legislatively for BDCs and SBICs over the next 12 months. Panelists: Sam Anderson, Goldman Sachs Steve Boehm, Sutherland Cynthia Krus, Sutherland Brett Palmer, Small Business Investor Alliance 9:15 a.m. – 10:00 a.m. SEC Compliance and Enforcement Actions: Lessons Learned What do you need to know to prepare for an SEC examination? Our panel will provide the perspective of the SEC staff, enforcement attorneys and BDC chief compliance officers. The panel will also discuss recent trends in examinations and enforcement and how they may impact BDCs. Moderator: Deb Heilizer, Sutherland Panelists: Paula Bosco, New Mountain Finance Corporation Tod Reichert, MCG Capital Corporation Stephanie Paré Sullivan, THL Credit, Inc. John Walsh, Sutherland 10:00 a.m. – 10:45 a.m. Non-Traded BDCs: An Alternative Capital Raising Model Three sponsors of non-traded BDCs talk about why they started a non-traded BDC, their experiences in getting the venture off the ground, the lessons they learned along the away, and where they see the future of this increasingly popular alternative investment vehicle.
    [Show full text]
  • The M&A Process
    2014 COMPLETE GUIDE TO MIDDLE MARKET M&A POWERED BY AXIAL POWERED BY AXIAL 1 POWERED BY AXIAL 2 Introduction Dear Readers, Thank you for downloading The Complete Guide to Middle Market M&A 2014. This ebook is a collection of the most valuable and popular articles published on Axial’s Forum. The included content, written mostly by fellow deal professionals and business owners, discusses the key trends in the middle market and best practices for navigating the transaction process. The 75+ below articles reflect the diversity of the middle market community and cover a wide range of topics and themes. As a result, this ebook is divided into seven chapters: Chapter One: Hiring an M&A Advisor Chapter Two: Finding the Best Buyers Chapter Three: LBO Essentials Chapter Four: Leveraging Technology Chapter Five: Completing the Best Transaction Chapter Six: Trends Shaping the Middle Market Chapter Seven: Valuation Best Practices Thank you to all authors, thought leaders, and Axial members that share their insights on Forum. For more information about Forum, becoming an author, or Axial membership, please send an email to: [email protected] Happy reading, Billy Fink Editor, Axial Forum POWERED BY AXIAL CHAPTER ONE: HIRING AN M&A ADVISOR M&A Advisors: The Overlooked Value Maximizer .............................................................6 How to Write the Investment Banking Engagement Letter .........................................8 Understanding Investment Banking Fee Structures ......................................................10 CHAPTER TWO: FINDING THE BEST BUYERS Should You Keep Your Sellside Process Narrow? ............................................................14 Should Your Buyer List Include Financial Sponsors? .....................................................14 5 Differences Between Financial and Strategic Buyers .................................................16 How Family Offices Approach Direct Investing ..............................................................
    [Show full text]
  • View, a Private Real Estate Investment Manager Focused Primarily on Private Real Estate Debt Strategies
    FOCUS Ranan Z. Well Corporate & Securities Mergers & Acquisitions Chair, Investment Management M&A Private Equity Co-Chair, Private Equity Investment Management Mergers & Acquisitions Washington, DC Insurance Transactional & Regulatory 202.419.8404 Solutions Financial Services [email protected] Investment Management Private Investment Funds Institutional Investors Health Law Ranan Well represents public and private companies, private equity firms and Special Situations other financial services firms and investors in a broad range of corporate and BAR ADMISSIONS transactional matters, including mergers and acquisitions, joint ventures and strategic transactions, equity investments and restructurings. District of Columbia Maryland As chair of Stradley Ronon’s Investment Management Mergers & Acquisitions Practice, Ranan works within the firm’s premier Investment Management EDUCATION Group in representing asset management, wealth management, private equity J.D., Boston University School of Law and other financial services firms and investors in purchases and sales of B.A., Yeshiva University registered investment advisers, mutual fund adoptions and mergers of registered investment companies, joint ventures and strategic transactions, and equity investments. In addition, Ranan advises institutional investors in their investments into hedge funds and private equity funds, including the negotiation and execution of side letter agreements, and has successfully negotiated more than 45 investments, totaling in excess of $3.9 billion. He further counsels sponsors in connection with the structuring and formation of private investment funds. Ranan earned a certificate in FinTech from Harvard’s Office of the Vice Provost for Advances in Learning (VPAL), and previously served as a member of the Law360 Mergers & Acquisitions Editorial Advisory Board. RESULTS Ranan’s experience includes the representation of:* Investment Management .
    [Show full text]
  • OPERS.Invests.5.1.12.Final:Layout 1.Qxd
    OPERS Invests Ohio’s Largest Retirement System Supports a Strong State Economy by Investing in Ohio’s Financial and Private Industries OPERS is good for Ohio. Ohio Public Employees Retirement System Updated May 2012 Table of Contents Background 1 Investment Activity by Public Pension Funds 1 How Public Pension Funds Revitalize Regional, State and Local Communities 2 The Ohio-Midwest Fund 2 Public Markets Managers 5 Real Estate Commitments 6 Share Ownership 6 Conclusion 7 OPERS Invests Table of Contents OPERS Invests NEW INVESTMENT PLAN INCLUDES ‘FLOATING’ POLICY TARGET The Ohio Public Employees Retirement System’s Investment Plan is a comprehensive one that provides diversity to manage risk and encourage long-term perspective. The plan’s investment strategy is developed to provide more than two-thirds of revenues to help pay for retiree benefits. It also has allowed for investments of more than $1 billion in Ohio businesses. During 2012, OPERS investment staff is working to implement the new Investment Plan, incorporating new asset allocation targets that include a small shift away from equities as well as the introduction of a floating, or dynamic, policy target. The 2012 OPERS Annual Investment Plan outlines the main asset classes and key management characteristics of the OPERS Defined Benefit, Health Care and Defined Contribution funds. In addition to asset allocation, the Plan includes target percentages for return benchmarks, investment strategy and the use of active and passive management. The Plan incorporates the strategic asset allocation targets approved by the board in 2009, 2011 and 2012. Highlights of the changes include: For the DB fund, the main asset class policy targets are 45 percent for public equities, 27 percent for fixed income and 28 percent for alternatives.
    [Show full text]
  • REPORT 2015 Vol. 6
    REPORT 2015 vol. 6 Forward-thinking articles from our global network of innovation ecosystem experts KFR Staff KF Board of Directors Publisher Brian Dovey, Chairman Kauffman Fellows Press Domain Associates Executive Editor Tom Baruch Phil Wickham Formation 8 Managing Editor Jason Green Anna F.Doherty Emergence Capital Partners Associate Editor Karen Kerr Leslie F. Peters Agile Equities, LLC Production and Design Audrey MacLean Anna F. Doherty Stanford University Leslie F. Peters Susan Mason Printer Aligned Partners Almaden Press www.almadenpress.com Jenny Rooke Copyright Fidelity Biosciences © 2015 Kauffman Fellows. All rights reserved. Christian Weddell Under no circumstances shall any of the information provided herein be construed as investment advice of any kind. Copan About the Editor Phil Wickham Anna F. Doherty is an accomplished editor and writing Kauffman Fellows coach with a unique collaborative focus in her work. She has 20 years of editing experience on three continents in a variety of business industries. Through her firm, Together Editing & Design, she has offered a full suite of writing, design, and publishing services to Kauffman Fellows since 2009. Leslie F. Peters is the Lead Designer on the TE&D team. www.togetherediting.com www.kauffmanfellows.org Town & Country Village • 855 El Camino Real, Suite 12 • Palo Alto, CA 94301 Phone: 650-561-7450 • Fax: 650-561-7451 Venturing into the Industry: Lessons Learned from a VCpreneur Ahmad Takatkah Class 17 My life has been swinging between in Empretec,2 an international entrepreneurship and venture capital for more entrepreneurship training program than ten years now. In each cycle, I get closer that is managed by the United Nations and to my goal, even as I refine my goals further.
    [Show full text]