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Form ADV Part 2A – Disclosure Brochure
Prosperity Advisory Group LLC Form ADV Part 2A – Disclosure Brochure Effective: October 12, 2020 This Form ADV Part 2A (“Disclosure Brochure”) provides information about the qualifications and business practices of Prosperity Advisory Group LLC (“PAG” or the “Advisor”). If you have any questions about the content of this Disclosure Brochure, please contact the Advisor at (585) 381-5900. PAG is a Registered Investment Advisor with the U.S. Securities and Exchange Commission (“SEC”). The information in this Disclosure Brochure has not been approved or verified by the SEC or by any state securities authority. Registration of an investment advisor does not imply any specific level of skill or training. This Disclosure Brochure provides information about PAG to assist you in determining whether to retain the Advisor. Additional information about PAG and its Advisory Persons is available on the SEC’s website at www.adviserinfo.sec.gov by searching with the Advisor’s firm name or CRD# 310720. Prosperity Advisory Group LLC 50 Square Drive, Suite 220, Victor, NY 14564 Phone: (585) 381-5900 * Fax: (585) 381-0478 https://prosperityadv.com Item 2 – Material Changes Form ADV 2 is divided into two parts: Part 2A (the "Disclosure Brochure") and Part 2B (the "Brochure Supplement"). The Disclosure Brochure provides information about a variety of topics relating to an Advisor’s business practices and conflicts of interest. The Brochure Supplement provides information about the Advisory Persons of PAG. PAG believes that communication and transparency are the foundation of its relationship with Clients and will continually strive to provide you with complete and accurate information at all times. -
2014 Annual Report
ZSDC 2014 Annual Report 2014 Annual Report Announcement No. [CMPD] 2015-010 Section One Important Notice, Contents and Interpretation Important Notes: Board of Directors and Board of Supervisors of the Company and its directors, supervisors and officers hereby guarantee that this resolution is free from any faults, misleading statement or major omission and bear joint and several liabilities for the truthfulness, accuracy and completeness of contents described herein. Profit distribution plan and capital stock increasing from accumulation funds during reporting period reviewed by company’s Board of Directors: based on total 2,575,950,754 capital shares at the end of reporting period, paying out RMB 3.2 (including tax) cash dividend per 10 shares, no capital stock increasing from accumulation funds. The legal representative Sun Chengming, Chief Financial Director Wu Zhenqin and Manager of Finance Department Li Shifang hereby state that: the financial statements under the Report are authentic, accurate and complete. Except that director of the Company, Chen Gang and independent director of the Company, Liu Hongyu was unable to attend the board meeting for report review in person due to business, but respectively authorized Vice Chairman Yang Tianping and independent director Chai Qiang to attend the meeting and vote on his behalf, other all directors attended the meeting. The Report is made in Chinese and English. In case of any discrepancy, the Chinese version shall prevail. Contents Section Two Company Profile .................................................................................................................................. -
Private Debt in Asia: the Next Frontier?
PRIVATE DEBT IN ASIA: THE NEXT FRONTIER? PRIVATE DEBT IN ASIA: THE NEXT FRONTIER? We take a look at the fund managers and investors turning to opportunities in Asia, analyzing funds closed and currently in market, as well as the investors targeting the region. nstitutional investors in 2018 are have seen increased fundraising success in higher than in 2016. While still dwarfed Iincreasing their exposure to private recent years. by the North America and Europe, Asia- debt strategies at a higher rate than focused fundraising has carved out a ever before, with many looking to both 2017 was a strong year for Asia-focused significant niche in the global private debt diversify their private debt portfolios and private debt fundraising, with 15 funds market. find less competed opportunities. Beyond reaching a final close, raising an aggregate the mature and competitive private debt $6.4bn in capital. This is the second highest Sixty percent of Asia-focused funds closed markets in North America and Europe, amount of capital raised targeting the in 2017 met or exceeded their initial target credit markets in Asia offer a relatively region to date and resulted in an average size including SSG Capital Partners IV, the untapped reserve of opportunity, and with fund size of $427mn. Asia-focused funds second largest Asia-focused fund to close the recent increase in investor interest accounted for 9% of all private debt funds last year, securing an aggregate $1.7bn, in this area, private debt fund managers closed in 2017, three-percentage points 26% more than its initial target. -
Investment in PAG Growth II LP
Report and Recommendation of the President to the Board of Directors Project Number: 55076-001 May 2021 Proposed Equity Investment PAG Growth Capital Limited Investment in PAG Growth II L.P. (Regional) This is a redacted version of the document approved by ADB's Board of Directors, which excludes information that is subject to exceptions to disclosure set forth in ADB's Access to Information Policy. ABBREVIATIONS ADB – Asian Development Bank ESG – environmental, social, and governance ESMS – environmental and social management system GDP – gross domestic product IRC – investment review committee IRR – internal rate of return IT – information technology MOIC – multiple on invested capital PAGAC – PAG Asia Capital Limited PAGG I – PAG Growth I L.P. PAGG II – PAG Growth II L.P. PAGGC – PAG Growth Capital Limited PAGPE – PAG Private Equity PRC – People’s Republic of China SPS – Safeguard Policy Statement NOTE In this report, “$” refers to United States dollars. Vice-President Ashok Lavasa, Private Sector Operations and Public–Private Partnerships Director General Suzanne Gaboury, Private Sector Operations Department (PSOD) Deputy Director General Christopher Thieme, PSOD Director Janette Hall, Private Sector Investment Funds and Special Initiatives Division (PSIS), PSOD Team leader Davide Conti, Investment Specialist, PSIS, PSOD Team members Elizabeth Alpe, Senior Transaction Support Specialist (Integrity), Private Sector Transaction Support Division (PSTS), PSOD Ian Bryson, Senior Safeguards Specialist, PSTS, PSOD Ka Seen Gabrielle Chan, Safeguards Specialist, PSTS, PSOD Karlo Alberto De Asis, Social Development Officer (Safeguards), PSTS, PSOD Laurence Genee, Senior Safeguards Specialist, PSTS, PSOD Manfred Kiefer, Senior Economist, PSTS, PSOD Farshed Mahmud, Senior Investment Specialist, PSIS, PSOD Catherine Marsh, Assistant General Counsel, Office of the General Counsel a Yee Hean Teo, Principal Investment Specialist, PSIS, PSOD F Anne Valko, Social Development Specialist (Gender and Development), PSTS, PSOD a Outposted to the ADB Singapore Office. -
Market Insight – October 2020
SYDNEY MELBOURNE Level 15 Level 9 60 Castlereagh Street 41 Exhibition Street SYDNEY NSW 2000 MELBOURNE VIC 3000 Tel 61 2 9235 9400 Tel 61 3 9653 8600 Market Insight – October 2020 The Road Out Returning to Normal There is movement at the station for the word had passed around… that the market is open and the city of Sydney is keenly welcoming back its workforce. Ok, so not back to full capacity just yet, but we have seen a number of funds, banks & professional services firms return in some form to the office – week on/week off, book your desk with capacity % limits, split teams & floors, the list goes on. As a result, the corresponding increase in face to face meetings in offices, coffee shops or even over lunch - dare we say it is feeling almost a little more “normal“ around town. We at JMES have a sense that many are yearning to be back in the office in some form. The camaraderie created by spending time with colleagues side by side in the trenches surely trumps the back to back monotony of non-stop Zoom calls tied to a laptop at home. So, what next for 2021? We have all seen the high-profile new entrants in Barrenjoey & Jarden providing some market disruption. But there have also been other good examples of clients (funds, banks, corporates and government agencies) committed to completing hiring processes in Q3 and into Q4 – so whilst certainly not back to 2019 volumes, there is positive hiring momentum. A number of our clients have kicked off processes to ensure starters in place for Q1 of 2021, and notably, these are not just replacement hires but newly created roles, surely providing a level of confidence heading into the new year. -
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. -
CAFR) of the State Retirement Systems Administered by the Department of Management Services, Division of Retirement (Division)
Florida Retirement System Pension Plan And Other State Administered Systems Comprehensive Annual Financial Report Fiscal Year Ended June 30, 2020 This aerial view shows the Lower Florida Keys, near Big Pine Key, FL, known for their pristine environment and eco-friendly attractions. The Lower Keys are home to two national wildlife refuges, a portion of a national marine sanctuary and a state park, and are surrounded by a marine environment fi lled with abundant terrestial and marine life. This photograph is courtesy of Andy Newman with the Florida Keys News Bureau. Division of Retirement Toll Free: 844-377-1888 P.O. Box 9000 Local: 850-907-6500 Tallahassee, FL 32399-9000 TTY: 800-955-8771 www.frs.myfl orida.com Ron DeSantis, Governor Jonathan Satter, Secretary David DiSalvo, State Retirement Director This report has been prepared by the Department of Management Services Division of Retirement. The photographs used throughout this report highlight various islands around the State of Florida. On the cover is a photograph of Amelia Island, courtesy of Amelia Island Convention & Visitor Bureau. Intentionally Left Blank 2 TABLE OF CONTENTS INTRODUCTORY SECTION .................................................................................................................................................................... 7 Transmittal Letter .................................................................................................................................................................................. 8 Management Staff ............................................................................................................................................................................. -
TRS Celebrates 70 Years
Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2009 Seasons of Change TRS Celebrates 70 Years Teachers’ Retirement System of the State of Illinois A component unit of the State of Illinois Statement of Purpose Retirement Security for Illinois Educators Mission Statement Safeguard benefit security through committed staff, engaged members, and responsible funding. Fiscal Year Highlights 2009 2008 Active contributing members 169,158 165,572 Inactive noncontributing members 101,606 98,550 Benefit recipients* 94,424 91,462 Total membership 365,188 355,584 Actuarial accrued liability (AAL) $73,027,198,000 $68,632,367,000 Less actuarial value of assets (smoothed assets in 2009 and market value assets in 2008) 38,026,044,000 38,430,723,000 Unfunded actuarial accrued liability (UAAL) $35,001,154,000 $30,201,644,000 Funded ratio (% of AAL covered by assets, based on smoothed assets in 2009 and market value assets in 2008) 52.1% 56.0% Total fund investment return (loss), net of fees (22.7%) (5.0%) Expenses Benefits paid $3,653,713,951 $3,423,981,732 Refunds paid 53,709,137 60,285,624 Administrative expenses 17, 3 8 7,93 6 16,613,364 Total expenses $3,724,811,024 $3,500,880,720 Income Member contributions $876,182,122 $865,400,168 Employer contributions 152,328,853 130,673,629 State of Illinois contributions 1,451,591,716 1,041,114,825 Total investment income (loss) (8,688,285,511) (2,014,902,366) Total income ($6,208,182,820) $22,286,256 * Benefit recipients includes retiree, disability, and survivor beneficiaries. -
Annual Investment Report Fiscal Year July 1, 2019 - June 30, 2020 State Board of Administration Table of Contents
Annual Investment Report Fiscal Year July 1, 2019 - June 30, 2020 State Board of Administration Table of Contents Executive Director’s Report and Transmittal ..................................................5 SBA Organizational Structure and Oversight ..................................................13 Advisors, Consultants and Auditors ..............................................................14 SBA Mandate Overview ................................................................................16 Asset Allocation ..............................................................................................18 Risk and the Investment Process .....................................................................19 Compliance with Investment Strategy ............................................................22 SBA’s Non-Investment Management Responsibilities ....................................23 Investment Policy Statements, Portfolio Guidelines and Trust Agreements .....................................................25 Florida Retirement System Pension Plan .........................................................26 Florida Retirement System Investment Plan .....................................................48 Florida PRIMETM .....................................................................................................53 Florida Hurricane Catastrophe Fund/State Board of Administration Finance Corporation .............................................................56 Lawton Chiles Endowment Fund ...................................................................59 -
Corporate Venturing Report 2019
Corporate Venturing 2019 Report SUMMIT@RSM All Rights Reserved. Copyright © 2019. Created by Joshua Eckblad, Academic Researcher at TiSEM in The Netherlands. 2 TABLE OF CONTENTS LEAD AUTHORS 03 Forewords Joshua G. Eckblad 06 All Investors In External Startups [email protected] 21 Corporate VC Investors https://www.corporateventuringresearch.org/ 38 Accelerator Investors CentER PhD Candidate, Department of Management 43 2018 Global Startup Fundraising Survey (Our Results) Tilburg School of Economics and Management (TiSEM) Tilburg University, The Netherlands 56 2019 Global Startup Fundraising Survey (Please Distribute) Dr. Tobias Gutmann [email protected] https://www.corporateventuringresearch.org/ LEGAL DISCLAIMER Post-Doctoral Researcher Dr. Ing. h.c. F. Porsche AG Chair of Strategic Management and Digital Entrepreneurship The information contained herein is for the prospects of specific companies. While HHL Leipzig Graduate School of Management, Germany general guidance on matters of interest, and every attempt has been made to ensure that intended for the personal use of the reader the information contained in this report has only. The analyses and conclusions are been obtained and arranged with due care, Christian Lindener based on publicly available information, Wayra is not responsible for any Pitchbook, CBInsights and information inaccuracies, errors or omissions contained [email protected] provided in the course of recent surveys in or relating to, this information. No Managing Director with a sample of startups and corporate information herein may be replicated Wayra Germany firms. without prior consent by Wayra. Wayra Germany GmbH (“Wayra”) accepts no Wayra Germany GmbH liability for any actions taken as response Kaufingerstraße 15 hereto. -
Annual Report on the Performance of Portfolio Companies, IX November 2016
Annual report on the performance of portfolio companies, IX November 2016 Annual report on the performance of portfolio companies, IX 1 Annual report on the performance of portfolio companies, IX - November 2016 Contents The report comprises four sections: 1 2 3 4 Objectives Summary Detailed Basis of and fact base findings findings findings P3 P13 P17 P45 Annual report on the performance of portfolio companies, IX - November 2016 Foreword This is the ninth annual report The report comprises information and analysis With a large number of portfolio companies, on the performance of portfolio to assess the potential effect of Private Equity a high rate of compliance, and nine years of ownership on several measures of performance information, this report provides comprehensive companies, a group of large, of the portfolio companies. This year, the and detailed information on the effect of Private Equity (PE) - owned UK report covers 60 portfolio companies as at 31 Private Equity ownership on many measures of businesses that met defined December 2015 (2014:62), as well as a further performance of an independently determined 69 portfolio companies that have been owned group of large, UK businesses. criteria at the time of acquisition. and exited since 2005. The findings are based Its publication is one of the steps on aggregated information provided on the This report has been prepared by EY at the portfolio companies by the Private Equity firms request of the BVCA and the PERG. The BVCA adopted by the Private Equity has supported EY in its work, particularly by industry following the publication that own them — covering the entire period of Private Equity ownership. -
History, Development and Corporate Structure
This document is in draft form, incomplete and subject to change and that the information must be read in conjunction with the section headed “Warning” on the cover of this document. HISTORY, DEVELOPMENT AND CORPORATE STRUCTURE OVERVIEW We are a medtech company dedicated to the research, development and commercialization of innovative medical devices in the field of structural heart diseases with an established leadership position in the transcatheter mitral valve (TMV) market in China. For further details, please refer to the section headed “Business” in this document. The Company was established in the PRC as a limited liability company on December 22, 2016 by Mr. Dai, being an executive Director, and Ms. Yang, being an executive Director. For the biographical details of Mr. Dai and Ms. Yang, please refer to the section headed “Directors, Supervisors and Senior Management” in this document. After a series of share transfers and capital injections, the Company was converted into a joint stock company with limited liability and renamed as “Shanghai Hanyu Medical Technology Co., Ltd. (上海捍宇醫療科技股份有限 公司)”. In March 2021, the registered capital of the Company was increased and there has been no change of share capital since then. MILESTONES OF DEVELOPMENT The following table sets forth the key milestones of our development: Year Key Milestones and Achievements December 2016 We were established as a limited liability company in the PRC under the name of “Shanghai Hanyu Medical Technology Corporation Limited (上海捍宇醫療科技有限公司)”. April 2017 We obtained an exclusive license and purchase option regarding the ValveClamp Patent. July 2018 We launched an exploratory first-in-human (FIM) clinical trial for ValveClamp.