Secondaries Update Download Data  Secondaries Update

Total Page：16

File Type：pdf, Size：1020Kb

Secondaries Update Download Data  Secondaries Update

View the full edition of Spotlight at: https://www.preqin.com/docs/newsletters/pe/Preqin-Private-Equity-Spotlight-August-2016.pdf The Facts Secondaries Update Download Data Secondaries Update Olivia Perry takes a look at investors that are interested in acquiring stakes in buyout vehicles on the private equity secondary market. Fig. 1: Five Largest Investors Interested in Buying Buyout Funds on the Secondary Market by Assets under Management Assets under Investor Type Headquarters Management (bn) Prudential Financial Insurance Company US 1,204 USD Abu Dhabi Investment Authority Sovereign Wealth Fund United Arab Emirates 773 USD MetLife Insurance Company Insurance Company US 525 USD ABP Public Pension Fund Netherlands 359 EUR Meiji Yasuda Life Insurance Company Insurance Company Japan 39,165 JPY Source: Preqin Secondary Market Monitor Fig. 2: Investors Interested in Buying Buyout Funds on the Fig. 3: Investors Interested in Buying Buyout Vehicles on Secondary Market by Investor Type the Secondary Market by Investor Location Private Equity Fund 4% of Funds Manager 9% 26% Public Pension Fund North America 41% Secondary Fund of Europe 45% Funds Manager 3% Insurance Company Asia-Pacific 8% Asset Manager 41% Rest of World 11% 11% Other Source: Preqin Secondary Market Monitor Source: Preqin Secondary Market Monitor Fig. 4: Recent Secondary Transactions Involving Buyout Funds in Q2 2016 Fund Buyer Seller Goldman Sachs AIMS Private Graphite Capital Partners VII Argentum Asset Management Equity Metal and Engineering Bridgepoint Europe II Coller Capital Pension Fund Howard Hughes Medical Apax Europe VII ACG Capital Institute Employees' Retirement Charterhouse Capital Partners IX Lexington Partners System of Texas Graphite Capital Partners VI LGT Capital Partners Diageo UK Pension Plan BC European Cap IX, BC European Cap VIII, EQT V, EQT VI, Phoenix Ontario Teachers' Pension Ardian Equity Partners 2006 Fund, Phoenix Equity Partners 2010 Fund Plan Bridgepoint Europe III, Charterhouse Capital Partners VII DB Private Equity GIC August Equity Partners II, EQT V, PAI Europe V Partners Group Santander Private Equity Source: Preqin Secondary Market Monitor 19 Private Equity Spotlight / August 2016 © 2016 Preqin Ltd. / www.preqin.com.

Copy Link

Recommended publications

Press Release Paris // December 8, 2016
PRESS RELEASE PARIS // DECEMBER 8, 2016 The 15th edition of the Private Equity Exchange & Awards was held in Paris on December 8, 2016. 1,200 participants – Limited Partners, Private Equity Funds and Corporate Executives – gathered for this major Pan-European summit on private equity and restructuring followed by a high-class evening ceremony rewarding the best performers among LBO Funds, Limited Partners and Management Teams. AN INTENSIVE ONE-DAY PROGRAM… 80 outstanding speakers from all over Europe shared their expertise through interactive round-tables and keynote speeches in three main tracks: International LBO & Fundraising; LBO & Management; Underperformance, Restructuring & Private Equity. Experts included: Pascal Blanqué, Chief Investment Officer, Amundi Blair Jacobson, Partner, Ares Management Mark Ligertwood, Partner, Dunedin Fabrice Nottin, Partner, Apollo Global Management Jean-Baptiste Wautier, Managing Partner, BC Partners, etc... DOWNLOAD THE SPEAKERS’ LINE UP …FOCUSING ON NETWORKING OPPORTUNITIES The Private Equity Exchange & Awards promoted targeted networking opportunities in several ways. The Business lunch allowed participants to develop their network and meet participants with diverse profiles. Thanks to the exclusive One-to-One Meetings, participants benefited from a targeted networking planning their meetings ahead of the event through a dedicated online platform. …CONCLUDED BY A PRESTIGIOUS GALA EVENING The gala dinner followed by the Awards Ceremony was the crowning achievement of the event, rewarding the best Private Equity players – LBO, Venture and Growth Capital Funds, Limited Partners and Management Teams – on the long run. Over 80 jury members, top Limited Partners and Asset Management professionals, committed themselves to assess the application forms submitted by carefully preselected nominees. Laureates were rewarded on stage in front of more than 450 private equity players.
[Show full text]
Value in Private Equity: Where Social Meets Shareholder 3 OPPORTUNITIES ALIGNED
VALUE IN PRIVATE EQUITY WHERE SOCIAL MEETS SHAREHOLDER By Mark Hepworth Big Issue Invest March 2014 2 MOVING TOWARDS AN ERA OF OPPORTUNITY FOR ALL... The imbalance of opportunity in society is as striking today as it ever was. In my opinion though, this lack of opportunity is caused, not so much by opportunity not being there, but because of the lack of educational qualifications, or other criteria, such as direction and focus being absent in poorer sections of society. Clearly someone who attended private school, comes from a wealthy and educated family, and who completed their education to degree level is more likely to achieve than someone who was brought up as part of a one parent family, located in an inner city borough, didn’t attend much school and left at the earliest opportunity without any exam passes. Opportunity is always there for those naturally gifted, or lucky enough to spot it, or perhaps those educated enough to recognise it. I recently had lunch with a leading politician and mentioned my belief that we simply must find a way of linking the powerful stallions of free enterprise to the carriage of humanity that follows behind. It is essential in a modern democratic society that we work toward inclusion for all. Forget making the rich poorer, let’s make the poor richer. To most, the goal of private equity investment is typically seen as working in direct conflict to this goal of social inclusion. The media tends to distort and exaggerate the sector like a pantomime villain - asset stripping, job losses, financial engineering...the list goes on.
[Show full text]
Boosey & Hawkes
City Research Online City, University of London Institutional Repository Citation: Howell, Jocelyn (2016). Boosey & Hawkes: The rise and fall of a wind instrument manufacturing empire. (Unpublished Doctoral thesis, City, University of London) This is the accepted version of the paper. This version of the publication may differ from the final published version. Permanent repository link: https://openaccess.city.ac.uk/id/eprint/16081/ Link to published version: Copyright: City Research Online aims to make research outputs of City, University of London available to a wider audience. Copyright and Moral Rights remain with the author(s) and/or copyright holders. URLs from City Research Online may be freely distributed and linked to. Reuse: Copies of full items can be used for personal research or study, educational, or not-for-profit purposes without prior permission or charge. Provided that the authors, title and full bibliographic details are credited, a hyperlink and/or URL is given for the original metadata page and the content is not changed in any way. City Research Online: http://openaccess.city.ac.uk/ [email protected] Boosey & Hawkes: The Rise and Fall of a Wind Instrument Manufacturing Empire Jocelyn Howell PhD in Music City University London, Department of Music July 2016 Volume 1 of 2 1 Table of Contents Table of Contents .................................................................................................................................... 2 Table of Figures......................................................................................................................................
[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]
Partners Group Private Equity
SECURITIES AND EXCHANGE COMMISSION FORM NPORT-P Filing Date: 2020-08-26 | Period of Report: 2020-06-30 SEC Accession No. 0001752724-20-174334 (HTML Version on secdatabase.com) FILER Partners Group Private Equity (Master Fund), LLC Mailing Address Business Address 1114 AVENUE OF THE 1114 AVENUE OF THE CIK:1447247| IRS No.: 800270189 | State of Incorp.:DE | Fiscal Year End: 0331 AMERICAS AMERICAS Type: NPORT-P | Act: 40 | File No.: 811-22241 | Film No.: 201137479 37TH FLOOR 37TH FLOOR NEW YORK NY 10036 NEW YORK NY 10036 212-908-2600 Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document ITEM 1. SCHEDULE OF INVESTMENTS. The Schedule(s) of Investments is attached herewith. Partners Group Private Equity (Master Fund), LLC (a Delaware Limited Liability Company) Consolidated Schedule of Investments — June 30, 2020 (Unaudited) The unaudited consolidated schedule of investments of Partners Group Private Equity (Master Fund), LLC (the “Fund”), a Delaware limited liability company that is registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), as a non-diversified, closed-end management investment company, as of June 30, 2020 is set forth below: INVESTMENT PORTFOLIO AS A PERCENTAGE OF TOTAL NET ASSETS Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Partners Group Private Equity (Master Fund), LLC (a Delaware Limited Liability Company) Consolidated Schedule of Investments — June 30, 2020 (Unaudited) Acquisition Fair Industry Shares Date Value Common Stocks (2.38%) Asia - Pacific (0.06%) Alibaba Group Holding Ltd. Technology 06/19/20 4,439 $ 957,581 APA Group Utilities 02/11/16 360,819 2,765,432 Total Asia - Pacific (0.06%) 3,723,013 North America (1.09%) American Tower Corp.
[Show full text]
EMEA Private Equity Market Snapshot
• EMEA Emerging Markets Flourish Despite Brexit Jitters EMEA Private Equity • Specialist Mid-Market GPs Face Stiff Competition Market Snapshot • EMEA Consumer Products Losing Ground to US Targets • UK Large Caps, UK Mid-Caps: Spot Any Difference? October 2016 │ Issue 11 1 EMEA Private Equity Market Snapshot Editor’s Note Welcome to the eleventh issue of the EMEA Private Equity Market Snapshot, a quarterly publication focusing on the private equity [PE] market in Europe, the Middle East & Africa [EMEA] from S&P Global Market Intelligence. This issue leads with a review of the third quarter of 2016, noting the attractiveness of EMEA-based targets continu es to weaken in the eyes of foreign private equity buyers, with the UK faring the worst, while the Emerging Markets bucked this trend. We also take a look at the Brexit effect on the slowdown of activity of EMEA GPs and venture capital firms. We visit the UK Mid-Markets where unpredictability is the order of the day: subdued global investment while UK-based GPs remain optimistic, being left behind by its European neighbours and being the victim of intrusion from outsiders. The Consumer Products sector – the long-term darling of the private equity industry is going through a tumultuous time in EMEA as well as losing ground to the US. Is this sector in danger of losing its appeal? Our final piece looks at the UK Billion Dollar Funds and finds it short of investments and not investors and touches upon the private equity industry moving away from financial engineering towards value creation strategies which require longer holding periods.
[Show full text]
2016 ESG REPORT Being a Customer-Focused Responsible Investor
2016 ESG REPORT Being a customer-focused responsible investor ///////////////////////////////////////////////////////// Contents 05 Editorial 07 Idinvest Partners’ ESG policy : historical perspective and 2015 developments Main action taken in 2015 08 Responsible Private Equity strategy : A strong commitment organized around four operational positions 09 Integrate ESG issues throughout the entire investment lifecycle 10 2015, a turning point on how climate issues are addressed by our public commitments 11 A team dedicated to ESG considerations 12 The main initiatives taken by Idinvest Partners and its portfolio companies in 2015 14 Summary of 2015 activities and key ESG data 16 Growth capital 22 Private debt 29 Private funds Group 38 Idinvest Partners’ corporate social responsibility (CSR) approach (RSE) of Idinvest Partners 46 Interview with Isabelle Combarel, SWEN CAPITAL PARTNERS Editorial ///////////////////////////////////////////////////////////////////////// Dear clients, partners and staff, With over €6 billion under management, Idinvest Partners is a European leader in financing small and medium-sized enterprises. The companies financed by Idinvest Partners have created more than 7,000 jobs over the past three years. Now more than ever, our commitment to these companies brings meaning and growth against a global awakening to the issues of climate change in the wake of the 2015 Climate Change Conference (COP21). As a pioneer in this area, Idinvest is delighted to see the importance given to environmental, social and governance (ESG) considerations in a growing number of financial investors. This is why, once again, we have decided to show the high standards we expect of ourselves by broadening our responsible private equity strategy. We wish to present you with this report on our actions taken in 2015 and early 2016 and progress made on our responsible investment strategy.
[Show full text]
Supplementary Information for the Six Months Ended 31 July 2020
Supplementary information For the six months ended 31 July 2020 Note: All data as at 31 July 2020 unless specified Supplementary portfolio information ICG Strategies Investing in five out of ICG’s 21 strategies Strategy Gross Total (ICGT invested Description Latest fund return Value Undrawn exposure size target £m £m £m since) ICG Europe Subordinated debt and equity in mid- market companies with experienced €4.5 billion 15-20% p.a. 125 29 154 (1989) management teams who have a proven strategy, typically in non-cyclical industries. The team works with businesses to develop flexible capital solutions tailored to achieve a company’s goals and will usually be the sole institutional investor. ICG Strategic Acquisitions of significant positions in funds and/or portfolios of companies $2.4 billion >20% p.a. 24 66 90 Equity through fund restructurings, recapitalisations and whole-fund liquidity (2016) solutions. The team works with incumbent private equity managers to provide liquidity options for investors in mature fund vehicles. ICG Asia Subordinated debt and equity in mid-market companies in developed Asia $0.7 billion 15-20% p.a. 28 3 31 Pacific Pacific markets. The team focuses on providing flexible capital solutions to (2016) leveraged buyouts, corporate investments and restructuring of capital structures (excluding those of distressed companies). ICG US Subordinated debt, second lien debt, first lien debt and equity co-investments $1.4 billion 13-17% p.a. 2 6 8 (mainly Mezzanine in mid-market companies - both private equity sponsored and sponsorless. income) (2018) ICG Europe Following the same successful strategy as ICG Europe targeting smaller mid- €1 billion 15-20% p.a.
[Show full text]
3Q 2019 Contents Credits & Contact
Global League Tables 3Q 2019 Contents Credits & contact PitchBook Data, Inc. Introduction 2 John Gabbert Founder, CEO Adley Bowden Vice President, PE firms 3-11 Market Development & Analysis Content VC firms 12-19 Garrett James Black Senior Advisors/accountants & investment banks 20-25 Manager, Custom Research & Publishing Law firms: VC & PE 26-35 Van Le Senior Data Analyst Acquirers 36-38 Contact PitchBook Research [email protected] Cover design by Kelilah King Click here for PitchBook’s report methodologies. Introduction Thank you to all who participated in the surveys that firm for each given section), however, spacing and enable these rankings to be possible. Once again, near- aggregate tallies prevented us from adopting that cutoff record submissions led to this edition of the Global consistently on every page. All in all, we are confident League Tables being released somewhat later in the that the current tables will provide a useful, accurate quarter. As always at PitchBook, we prioritize accuracy snapshot of activity throughout 3Q 2019 by our array of above all else. We will continue to elect to provide the typical criteria, from venture transactions by stage to US most precise information over speed until we are sure we region. can accomplish both. Stay tuned for potential changes to these rankings as In this edition, we carried over our style of rankings, we continue to look for the most efficient and accurate which should prove helpful for quick consultation. We way to showcase the most active firms across private endeavored to keep the number of rankings equivalent markets. per page (e.g.
[Show full text]
INTERIM REPORT for the Period from 1 January 2007 to 30 September 2007 INTERIMSTATEMENT REPORT of the INVESTMENT MANAGER
INTERIM REPORT for the period from 1 January 2007 to 30 September 2007 INTERIMSTATEMENT REPORT OF THE INVESTMENT MANAGER INVESTMENT MANAGER’S REPORT PRINCESS’ NET ASSET VALUE UP 11% IN 2007 Princess continued its positive development during the third quarter of 2007. Despite the recent turbulence in the finan- cial markets and the weakness of the US dollar, the net asset value (NAV) increased by another 3.1% during the past three months to stand at EUR 98.64 per share at the end of Sep- Princess Private Equity Holding Limited (“Princess”) is an investment holding company tember 2007. A number of the underlying partnerships in the portfolio – especially buyout funds and partnerships in the domiciled in Guernsey that invests in private equity and private debt investments. North American region – reported write-ups, leading to reval- uations in the Princess private equity portfolio. Adjusted for Investments include primary and secondary fund investments, direct investments and the dividend that was paid out in April, the NAV has gained 11% since the beginning of the year. listed private equity. Princess aims to provide shareholders with long-term capital The recent concerns over the US subprime mortgage market growth and an attractive dividend yield. that spilled over to the wider credit market had no significant impact on the NAV development of the Princess portfolio and are not expected to materially affect the portfolio. Princess has no direct sub-prime exposure and while it has some The shares deliverable in the form of co-ownership interests in a global bearer certifi- exposure to the credit market through mezzanine invest- ments under its special situations allocation, these invest- cate are traded on the Frankfurt Stock Exchange.
[Show full text]
Private Equity Benchmark Report
Preqin Private Equity Benchmarks: All Private Equity Benchmark Report As of 31st March 2014 alternative assets. intelligent data. Preqin Private Equity Benchmarks: All Private Equity Benchmark Report As of 31st March 2014 Report Produced on 9th October 2014 This publication is not included in the CLA Licence so you must not copy any portion of it without the permission of the publisher. All rights reserved. The entire contents of the report are the Copyright of Preqin Ltd. No part of this publication or any information contained in it may be copied, transmitted by any electronic means, or stored in any electronic or other data storage medium, or printed or published in any document, report or publication, without the express prior written approval of Preqin Ltd. The information presented in the report is for information purposes only and does not constitute and should not be construed as a solicitation or other offer, or recommendation to acquire or dispose of any investment or to engage in any other transaction, or as advice of any nature whatsoever. If the reader seeks advice rather than information then he should seek an independent ﬁ nancial advisor and hereby agrees that he will not hold Preqin Ltd. responsible in law or equity for any decisions of whatever nature the reader makes or refrains from making following its use of the report. While reasonable efforts have been used to obtain information from sources that are believed to be accurate, and to conﬁ rm the accuracy of such information wherever possible, Preqin Ltd. Does not make any representation or warranty that the information or opinions contained in the report are accurate, reliable, up-to-date or complete.
[Show full text]
Graphite Enterprise Trust PLC 31 January 2015
Graphite Enterprise Trust PLC Trust Graphite Enterprise 31 January 2015 31 Graphite Enterprise Trust PLC Investing in long term growth Report and Accounts 31 January 2015 Contents Overview Financial Information Highlights of the Year 1 Consolidated Income Statement 44 About Graphite Enterprise 2 Consolidated Balance Sheet 45 Chairman’s Statement 4 Consolidated Cash Flow Statement 46 Strategic Report 10 Consolidated Statement of Case Study – Education Personnel 12 Changes in Equity 47 Parent Company Balance Sheet 48 Parent Company Cash Flow Statement 49 Manager’s Review Parent Company Statement of Changes in Equity 50 Case Study – London Square 14 Notes to the Accounts 51 Portfolio Review 15 Statement of Directors’ Market Review 20 Responsibilities 74 Graphite Capital Team 24 Independent Auditors’ Report 75 Graphite Capital 25 Case Study – Card Factory 26 Governance Supplementary Information The Board 84 Report of the Directors 85 The 30 Largest Fund Investments 28 Directors Remuneration 90 The 30 Largest Report of the Audit Committee 94 Underlying Investments 30 Additional disclosures required Analysis of the 30 Largest by the Alternative Investment Underlying Investments 32 Fund Managers Directive 96 Portfolio Analysis 33 Investment Policy 97 Investment Activity 35 The Annual General Meeting 99 Realisation Activity 36 Notice of Meeting 100 Commitments Analysis 37 Notice of Meeting Notes 102 Currency 41 Dividend and shareholder analysis 42 General Information Understanding Private Equity 104 How to Invest in Graphite Enterprise 106 Useful information 108 Highlights of the Year Overview Graphite Enterprise made further progress in the year to January 2015, with the net asset value per +5.0% +4.6% share, including the dividend, rising Net asset value per share Share price by 5%.
[Show full text]