The Top 400 Asset Managers
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Online Edition 22 February 2021
15 March, 2021 – Issue 858 penews.com Online edition 22 February 2021 The news and analysis powering European private equity The Bright Alternative in Fund and Corporate Services If you are launching a fund, looking to outsource, or are considering migrating, we can support you. Please call James Duffield, our Head of Business Development, on +44( 0)20 3818 0250 Explore: aztecgroup.co.uk | .eu Aztec Group is authorised to carry on financial services in the jurisdictions which it operates. 15 March, 2021 – Issue 858 penews.com The Bright Alternative in Fund and Corporate Services If you are launching a fund, looking to outsource, or are considering migrating, we can support you. Please call James Duffield, our Head of Business Development, on +44( 0)20 3818 0250 Explore: aztecgroup.co.uk | .eu Aztec Group is authorised to carry on financial services in the jurisdictions which it operates. www.penews.com • 15 March, 2021 News 3 CONTENTS Charterhouse to sell drugmaker Cover Cooper to CVC in €2.2bn deal Elisângela Mendonça reinvestment” in Cooper and over 35 years of activity. Its main DANILO AGUTOLI DANILO continue to support the growth targets are transactions with an London-based private equity firm and international expansion of the enterprise value of between €75m Charterhouse Capital Partners business alongside CVC, it said. and €1.5bn in services, health- said it has entered into exclusive Headquartered in Paris, Cooper care, specialised industrials and talks with CVC Capital Partners manufactures and distributes a di- consumer sectors. Since 1994, its to sell a majority stake in French versified portfolio of branded and more than 50 investments have l Michael Moore: The BVCA boss and former MP on why private equity drugmaker Cooperation Phar- basic products on an international generated €19.7bn of proceeds at must create public value maceutique Française, known as basis, to 30 export markets. -
Combined Capabilities of GCM Grosvenor and the Chief Investment Office (“CIO”) January 1, 2021
Hedge fund GPS Hedge Fund Guided Portfolio Solution – Advisory (Class I Shares) 1,2 The combined capabilities of GCM Grosvenor and the Chief Investment Office (“CIO”) January 1, 2021 $25k 65 bps Available in Investment 1099 Tax Reporting minimum Advisory/servicing fee3 Advisory Program (IAP) Retirement accounts Portfolio details About the fund Strategy Hedge Fund Guided Portfolio Solution (Hedge Fund GPS) is a single ticket allocation Multi-strategy to an actively managed hedge fund portfolio created by GCM Grosvenor, aligned with CIO guidance. Underlying managers4 12-20 Access to lower fees obtained Seeks to provide Registered under the Investment by GCM Grosvenor from its differentiated returns and Company Act of 1940 network of hedge funds asset class outperformance Quarterly liquidity5 Dynamically invested across Seeks to complement and Upon 65 days’ notice limited number of hedge fund diversify exposure within Favorable fee terms managers4 total portfolio Sought with underlying funds Asset allocation by strategy4,6,7 Cash and other Event Driven Canyon Capital Advisors LLC Relative Value Diversified Multi-Strategy Manager ExodusPoint Capital Management 8.0% Pentwater Capital Management LP Magnetar Capital 26.0% Redmile Group, LLC 16.6% Point72 Asset Management Renaissance Technologies Corp. Equity Hedge Macro 15.3% BlackRock, Inc. Alphadyne Asset Management LLC Coatue Management 34.1% Element Capital Management LLC Steadfast Capital Management LP Pharo Management, Inc. Tiger Global Management, LLC TPG Global A full discussion of fees is included in the Fund’s prospectus. 1 Combined capabilities refers to Merrill Lynch involvement in establishing investment guidelines with GCM Grosvenor pre-Fund launch. The ongoing role of Merrill Lynch is limited to that of selling agent. -
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. -
Regis Group and Ares Management Form Haven Capital
FOR IMMEDIATE RELEASE REGIS GROUP AND ARES MANAGEMENT FORM HAVEN CAPITAL Haven Capital Seeks to Capitalize on Ground Lease Opportunities in Top Markets Across the U.S. New York – November 16, 2020 – Regis Group (“Regis”) and funds managed by the Real Estate Equity and Alternative Credit strategies of Ares Management Corporation (“Ares”) today announced the formation of Haven Capital, an originator of customized ground lease positions in high quality assets across the U.S. Formed as a joint venture between Regis and the Ares funds, Haven Capital aims to capitalize ground lease opportunities in most real estate sectors in the top 50 markets with an initial capacity in excess of $1.0 billion. Haven Capital will target ground leases across all asset classes with a minimum $20 million transaction size. For real estate owners and developers, Haven Capital’s 99-year ground lease structure has the potential to increase asset values by separating land and buildings while reducing equity requirements, and thus, the total cost of capital. Further, Haven Capital can provide owners with the option to repurchase the property during the term or at the maturity of the ground lease. Haven Capital has appointed Joe Shanley to lead the growth of its platform. Prior to Haven Capital, Mr. Shanley was a Vice President at SL Green Realty, managing equity and debt investments for a variety of asset types across the New York region. “Regis has an established track record of identifying emerging opportunities in real estate and building national platforms to offer solutions for the market,” said Nick Gould, Chairman and Founder, Regis Group. -
KPMG Oy Ab 2014–2015
Läpinäkyvyys- kertomus KPMG Oy Ab 2014–2015 KPMG.fi ”KPMG Oy Ab:n läpinäkyvyys- kertomus 30.9.2015 päätty- neeltä tilikaudelta antaa tietoa siitä, miten yhtiömme organi- saatio ja hallinnointi on järjes- tetty ja kuinka huolehdimme työmme laadusta ja riskien- hallinnasta.” Sisällys Toimitusjohtajalta 03 Organisaatio ja hallinnointi 05 Hallitus 08 Johtoryhmä 09 Laadunvalvontajärjestelmä 10 Liitteet Liite 1 19 Yleisen edun kannalta merkittävät tilintarkastusasiakkaamme 19 Liite 2 23 Konsernin organisaatio 23 Toimitusjohtajalta KPMG Oy Ab:n läpinäkyvyyskertomus 30.9.2015 päät- tyneeltä tilikaudelta antaa tietoa siitä, miten yhtiömme organisaatio ja hallinnointi on järjestetty ja kuinka huoleh- dimme työmme laadusta ja riskienhallinnasta. Toimialamme muuttuvassa toiminta- ja sääntely-ympäristössä ensiluokkai- sen laadun ja riippumattomuuden varmistaminen edellyttää toimintatapojemme jatkuvaa arviointia ja kehittämistä. Tilintarkastusalaa koskevaan sääntelyyn on tekeillä merkittäviä muutoksia Suomessa ja EU:ssa. Kasvavien vaatimusten lisäksi uusi sääntely tarjoaa myös uusia liiketoimintamahdollisuuksia ja uudenlaisia monipuolisia urapolkuja henkilöstöllemme. Osallistumme aktiivisesti uuteen sääntelyyn liittyvään vuoropuheluun ja käytännön tulkintoihin ja haluamme parhaamme mukaan tukea toimi- alan kehittämistä. Meille on kunnia-asia, että teemme työmme laadukkaasti. Läpinäkyvyys ja avoin keskustelu sidosryhmiemme kanssa ja KPMG:n sisällä tukevat toimintamme laatua ja riippumat- tomuutta. Käytössämme on KPMG:n kansainvälisen verkos- ton laajat -
Competition Between Exchanges: Euronext Versus Xetra*
Competition Between Exchanges: Euronext versus Xetra* Maria Kasch-Haroutounian / Erik Theissen** January 2003 Abstract: Exchanges in Europe face increasing competition. Smaller exchanges may come under pressure to cooperate with one of the larger exchanges and adopt its trading system. It is, therefore, important to evaluate the attractiveness of the two dominating continental European trading sys- tems, Euronext and Xetra. Though both are anonymous electronic limit order books, there are im- portant differences in the trading protocols. In this paper we use a matched-sample approach to compare execution costs in Euronext Paris and Xetra. We find that both the effective spreads and its components, the realized spread and the adverse selection component, are lower in Xetra. Differ- ences in market organization - we consider differences in the number of liquidity provision agree- ments, and differences in the minimum tick size - do not explain the spread differences. JEL classification: G10, G15 Keywords: Competition between exchanges, bid-ask spread * We thank participants of the 9th Symposium on Finance Banking and Insurance in Karlsruhe for helpful comments. ** University of Bonn, BWL I, Adenauerallee 24-42, 53113 Bonn, Germany, Phone +49 228 739208, Fax +49 228 735924, Email: [email protected] and [email protected], respectively. 1 Introduction European exchanges are in a process of consolidation. Banks and institutional investors are putting pressure on exchange officials to decrease transaction costs. The fragmentation of European exchanges has been identified as one source of high transaction costs. Mergers be- tween exchanges and the joint use of trading systems are considered to be part of the solution. -
View Annual Report
Annual Report With this Annual Report, we have published our financial results for the first time according to Gross premium income International Accounting rose 19.6 percent to Standards (IAS). Net DM 90.4 billion in the profit increased by 31.5 Earnings per share 1998 business year. percent to DM 3.6 billion. totalled DM 14.67 – 26.8 percent higher than in the previous year. 1998 A T A GLANCE 1998 1998 Change from 1997 More on Allianz Group previous year page D DM in % DM Gross premium income bn 46.2 90.4 19.6 75.6 12 Benefits paid to customers bn 40.0 78.2 21.5 64.4 132 Pretax result mn 4,085 7,990 25.3 6,375 37 Tax mn 1,528 2,988 6.1 2,815 134 Minority interests in earnings mn 739 1,445 69.3 853 Net earnings mn 1,819 3,558 31.5 2,706 37 Assets Under Management bn 343.2 671.2 41.0 476.2 74 Stockholders’ equity bn 22.2 43.5 30.4 33.4 122 Insurance reserves bn 216.8 424.1 38.5 306.1 125 Employees 105,676 37.3 76,951 86 1998 1998 Change from 1997 More on Allianz Share previous year page D DM in % DM Earnings per share 7.50 14.67 26.8 11.57 136 Dividend per share 1.12 2.20 15.80 1.90 41 Dividend payout mn 276 539 23.1 438 Allianz share price on 12/31/1998 317 620 33.1 466 18 Market capitalization of Allianz on 12/31/1998 bn 77.6 151.8 41.6 107.2 18 Standard & Poor’s awarded the Allianz Group its highest possible rating, “AAA”. -
Description Iresscode Exchange Current Margin New Margin 3I
Description IRESSCode Exchange Current Margin New Margin 3I INFRASTRUCTURE PLC 3IN LSE 20 20 888 HOLDINGS PLC 888 LSE 20 20 ASSOCIATED BRITISH ABF LSE 10 10 ADMIRAL GROUP PLC ADM LSE 10 10 AGGREKO PLC AGK LSE 20 20 ASHTEAD GROUP PLC AHT LSE 10 10 ANTOFAGASTA PLC ANTO LSE 15 10 ASOS PLC ASC LSE 20 20 ASHMORE GROUP PLC ASHM LSE 20 20 ABERFORTH SMALLER COM ASL LSE 20 20 AVEVA GROUP PLC AVV LSE 20 20 AVIVA PLC AV LSE 10 10 ASTRAZENECA PLC AZN LSE 10 10 BABCOCK INTERNATIONAL BAB LSE 20 20 BARR PLC BAG LSE 25 20 BARCLAYS PLC BARC LSE 10 10 BRITISH AMERICAN TOBA BATS LSE 10 10 BAE SYSTEMS PLC BA LSE 10 10 BALFOUR BEATTY PLC BBY LSE 20 20 BARRATT DEVELOPMENTS BDEV LSE 10 10 BARING EMERGING EUROP BEE LSE 50 100 BEAZLEY PLC BEZ LSE 20 20 BH GLOBAL LIMITED BHGG LSE 30 100 BOWLEVEN PLC BLVN LSE 60 50 BANKERS INVESTMENT BNKR LSE 20 20 BUNZL PLC BNZL LSE 10 10 BODYCOTE PLC BOY LSE 20 20 BP PLC BP LSE 10 10 BURBERRY GROUP PLC BRBY LSE 10 10 BLACKROCK WORLD MININ BRWM LSE 20 65 BT GROUP PLC BT-A LSE 10 10 BRITVIC PLC BVIC LSE 20 20 BOVIS HOMES GROUP PLC BVS LSE 20 20 BROWN GROUP PLC BWNG LSE 25 20 BELLWAY PLC BWY LSE 20 20 BIG YELLOW GROUP PLC BYG LSE 20 20 CENTRAL ASIA METALS PLC CAML LSE 40 30 CLOSE BROTHERS GROUP CBG LSE 20 20 CARNIVAL PLC CCL LSE 10 10 CENTAMIN PLC CEY LSE 20 20 CHARIOT OIL & GAS LTD CHAR LSE 100 100 CHEMRING GROUP PLC CHG LSE 25 20 CONYGAR INVESTMENT CIC LSE 50 40 CALEDONIA INVESTMENTS CLDN LSE 25 20 CARILLION PLC CLLN LSE 100 100 COMMUNISIS PLC CMS LSE 50 100 CENTRICA PLC CNA LSE 10 10 CAIRN ENERGY PLC CNE LSE 30 30 COBHAM PLC -
Report Profundo
Eerlijke Verzekeringswijzer Dutch Fair Insurance Guide A Case Study on Transparency & Accountability A research paper for Amnesty International, Dierenbescherming, FNV, Milieudefensie, Oxfam Novib and PAX Eerlijke Verzekeringswijzer Dutch Fair Insurance Guide A Case Study on Transparency & Accountability A research paper for Amnesty International, Dierenbescherming, FNV, Milieudefensie, Oxfam Novib and PAX Date of publication 5 July 2016 Hester Brink, Retno Kusumaningtyas, Michel Riemersma, Joeri de Wilde Naritaweg 10 1043 BX Amsterdam The Netherlands Tel: +31-20-8208320 E-mail: [email protected] Website: www.profundo.nl Contents Samenvatting ............................................................................................................ i Summary ......................................................................................................... vii Introduction ........................................................................................................... 1 Chapter 1 Background ...................................................................................... 3 1.1 What is at stake? ....................................................................................... 3 1.2 Themes ...................................................................................................... 4 1.2.1 Organisation................................................................................................ 4 1.2.2 Policy ......................................................................................................... -
Emerging Markets Debt Survey Q4 2017 the EMD Market Deconstructed
The EMD market deconstructed Emerging Markets Debt Survey Q4 2017 Report run on 14 March 2018 Clear and Independent Institutional Investment Analysis We provide institutional investors, including pension funds, insurance companies and consultants, with data and analysis to assess, research and report on their investments. We are committed to fostering and nurturing strong, productive relationships across the institutional investment sector and are continually innovating new solutions to meet the industry’s complex needs. We enable institutional investors, including pension funds, insurance companies and consultants, to conduct rigorous, evidence-based assessments of more than 5,000 investment products offered by over 700 asset managers. Additionally, our software solutions enable insurance companies to produce consistent accounting, regulatory and audit-ready reports. To discuss your requirements +44 (0)20 3327 5600 [email protected] Find us at camradata.com Join us on LinkedIn Follow us on Twitter @camradata The CAMRADATA Emerging Market Debt (‘EMD’) survey is based on all USD EMD vehicles in CAMRADATA Live four weeks after the end of the report quarter. Contents Section 1: Market Commentary Section 6: Distribution of Returns 3 Years 1. Market Commentary 23. Distribution of Monthly Returns - All EM Debt Funds 2. Survey Highlights 24. Distribution of Monthly Returns - Broad Bond Funds 25. Distribution of Monthly Returns - Corprate Funds 26. Distribution of Monthly Returns - Government Funds Section 2: EM Debt Universe Section 7: Risk Return 3. Number of Products 27. 12 Month Risk Return – All Emerging Market Debt Funds 4. Number of Products over time 28. 36 Month Risk Return – All Emerging Market Debt Funds 5. -
Asia-Pacific Hedge Funds
Content Includes: Preqin Special Report: Asia-Pacific Hedge Funds Overview of Asia-Pacifi c March 2015 Hedge Funds New regions for investment are emerging amid a changing economic and regulatory landscape. Overview of Asia- Pacifi c Hedge Fund Performance Performing better than hedge funds globally following economic growth in region. Institutional Investors in Asia-Pacifi c A look at the region’s diverse range of active investors in hedge funds. Asia-Pacifi c-Based Investors’ Outlook on Hedge Funds What do investors look for in fund managers in 2015? Did hedge funds meet their expectations in 2014? alternative assets. intelligent data. Download the data pack: Preqin Special Report: Asia-Pacific Hedge Funds www.preqin.com/HFAsia15 The Asia-Pacific Opportunity Asia-Pacifi c as a destination for hedge fund management has been expanding rapidly over the past few years; over 2014 alone industry assets in the region grew by almost 30%. Much of this growth has been driven by the growing base of institutional investors in the region, from large sovereign wealth funds through to small local pension schemes, that have increasingly begun to turn to hedge funds to help meet portfolio liabilities and long-term investment objectives. Recent regulatory reforms that have swept across the region have enabled both fund managers and investors alike to ramp up their activity in the hedge fund space, and this rapid growth is expected to continue over the next few years as more regions for hedge fund activity emerge within Asia-Pacifi c. In this report we look at the state of the hedge fund industry in Asia-Pacifi c by examining both local funds and those from beyond its shores investing in the region. -
Spotlight: Shareholders Are Dispersed and Diverse
POLICY SPOTLIGHT APRIL 2019 Shareholders Are Dispersed And Diverse Index funds have democratized access to diversified investment for millions of savers, who are investing for long-term goals, like retirement. As index funds are currently growing more quickly than actively managed funds, some critics have expressed concern about increasing concentration of public company ownership in the hands of index fund managers. While it is true that assets under management (or ‘AUM’) in index portfolios have grown, index funds and ETFs represent less than 10% of global equity assets.1 Further, equity investors, and hence public company shareholders, are dispersed across a diverse range of asset owners and asset managers. As of year-end 2017, Vanguard, BlackRock, and State Street manage $3.5 trillion, $3.3 trillion, and $1.8 trillion in global equity assets, respectively.2 These investors represent a minority position in the $83 trillion global equity market. As shown in Exhibit 1, the combined AUM of these three managers represents just over 10% of global equity assets. The largest 20 asset managers only account for 22%. Moreover, about two-thirds of all global equity investment is conducted by asset owners choosing to invest in equities directly rather than by employing an asset manager to make investments on their behalf. Exhibit 1: Equity Market Investors3 Total Equity Market Capitalization 100% All Asset Managers 35% Top 20 Managers 22% Top 10 Managers 17% VGD 4% BLK 4% SSgA 2% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Exhibit 1 alone does not paint a complete picture of the diversity of equity market investors, as there is significant variation amongst asset managers and asset owners.