METRIC INDIA ART FUND METRIC GLOBAL INDIAN MULTINATIONAL MAPPING VALUE GLOBALLY !! GROUP 4

Contents METRIC Global Objectives Investment Considerations Investment Paradigm Art Market - Destination Investment Theme Investment Allocation Investment Criteria MAPPING VALUE GLOBALLY !!

METRIC Global

Objectives

Investment Considerations

Investment Paradigm

Art Market - Destination

Investment Theme

Investment Allocation

Investment Criteria

METRIC GLOBAL Is a fast growing Investment advisory and Boutique Private Equity group It was started in 2004 by four SPJCM Grads Operates from 5 Locations: Mumbai, Singapore, Dubai, Shanghai, New York Current Assets under Management US $500 million Current Funds are divided into three family of Funds: METRIC India Real Estate Fund – US $175 million METRIC BRIC Special Situation Fund – US $150 million METRIC Emerging Market Alternate Asset Fund – US $125 million MAPPING VALUE GLOBALLY !!

Is a fast growing Investment advisory and Boutique Private Equity group

It was started in 2004 by four SPJCM Grads

Operates from 5 Locations:

Mumbai, Singapore, Dubai, Shanghai, New York

Current Assets under Management US $500 million

Current Funds are divided into three family of Funds:

METRIC India Real Estate Fund – US $175 million

METRIC BRIC Special Situation Fund – US $150 million

METRIC Emerging Market Alternate Asset Fund – US $125 million

METRIC INDIA ART FUND (MIAF): OBJECTIVE The fund aims to build & finance the Art Industry as a whole Investment in publicly traded companies associated with the Industry Investment in Museums, Art Galleries & Private assets promising high growth Primary objective is to bring transparency in the Investments in ART Bridging the Gap of Financial markets & Art as an asset class It would operate both as investor in works of Art And as a Structured Fund Manager investing in the Sector Emphasis would be to take the advantage of the untapped Art market MAPPING VALUE GLOBALLY !!

The fund aims to build & finance the Art Industry as a whole

Investment in publicly traded companies associated with the Industry

Investment in Museums, Art Galleries & Private assets promising high growth

Primary objective is to bring transparency in the Investments in ART

Bridging the Gap of Financial markets & Art as an asset class

It would operate both as investor in works of Art

And as a Structured Fund Manager investing in the Sector

Emphasis would be to take the advantage of the untapped Art market

INVESTMENT CONSIDERATIONS The investment of significant levels of new money in the global art market results in a preparing ground for businesses that serve stakeholders, art investment, and promotion processes worldwide Existing non-artisan corporate players have the first mover advantage as they shape and develop the emerging Art Industry The economic benefits from value appreciation are distributed in favor of intermediaries and other art businesses (and thus tend to be limited for artists and art buyers) Globalization of the Art Industry is inevitable and is fuelled by ease of transport / spread of artistic concepts, global nature of all industries serving high net worth individuals (consuming the best rather than local) and lack of regulation around the world However, the existing presence of art market is mainly reflected today in the auction and art fair segments of the art industry, leaving significant opportunity for further consolidation MAPPING VALUE GLOBALLY !!

The investment of significant levels of new money in the global art market results in a preparing ground for businesses that serve stakeholders, art investment, and promotion processes worldwide

Existing non-artisan corporate players have the first mover advantage as they shape and develop the emerging Art Industry

The economic benefits from value appreciation are distributed in favor of intermediaries and other art businesses (and thus tend to be limited for artists and art buyers)

Globalization of the Art Industry is inevitable and is fuelled by ease of transport / spread of artistic concepts, global nature of all industries serving high net worth individuals (consuming the best rather than local) and lack of regulation around the world

However, the existing presence of art market is mainly reflected today in the auction and art fair segments of the art industry, leaving significant opportunity for further consolidation

INVESTMENT PARADIGM Creating, collecting & investing in art is an increasingly global activity with open access Significant returns from Art assets have spurred Art Investments as a separate asset class in the Portfolio Rapid emerging business in high growth segment of the global economy The business is also serviced by other business like media, IT, Finance, Manufacturing, Specialty Retail, Logistics and Security together forming ‘Art Industry’ Emergence of Art houses, galleries, & Auction houses have bought transparency in the deal size. MAPPING VALUE GLOBALLY !!

Creating, collecting & investing in art is an increasingly global activity with open access

Significant returns from Art assets have spurred Art Investments as a separate asset class in the Portfolio

Rapid emerging business in high growth segment of the global economy

The business is also serviced by other business like media, IT, Finance, Manufacturing, Specialty Retail, Logistics and Security together forming ‘Art Industry’

Emergence of Art houses, galleries, & Auction houses have bought transparency in the deal size.

The Art Market………Next Destination In 2006, the assets of HNI’s grew by 11.4% to USD 37.2 trillion, showing the first double-digit growth in seven years The number of HNI’s in the world increased by 8.3% to 9.5 million, and the number of ultra-HNI’s grew by 11.3% to 94,970. The largest growth of HNI population occurred in Singapore(21.2%) India (20.5%) Russia (15.5%) the Middle East (11.9%) Latin America (10.2%) China (7.8%). ( Merrill Lynch / Capgemini World Wealth Report 2007 ) MAPPING VALUE GLOBALLY !! Requirements of Different Asset classes for Portfolio Diversification BRIC countries are becoming more active in the Art market thus providing more liquidity in the sector Increase disposable income in the hands of people to economic boom can be leveraged upon.

In 2006, the assets of HNI’s grew by 11.4% to USD 37.2 trillion, showing the first double-digit growth in seven years

The number of HNI’s in the world increased by 8.3% to 9.5 million, and the number of ultra-HNI’s grew by 11.3% to 94,970. The largest growth of HNI population occurred in

Singapore(21.2%)

India (20.5%)

Russia (15.5%)

the Middle East (11.9%)

Latin America (10.2%)

China (7.8%).

( Merrill Lynch / Capgemini World Wealth Report 2007 )

Requirements of Different Asset classes for Portfolio Diversification

BRIC countries are becoming more active in the Art market thus providing more liquidity in the sector

Increase disposable income in the hands of people to economic boom can be leveraged upon.

METRIC INDIA ART FUND (MIAF) INVESTMENT THEME MAPPING VALUE GLOBALLY !! Private Equity – 60% High Growth Assets Personal Arts Auction Houses Art Galleries Historical Monuments Public Equity – 30% Equity Listed in Bourses Ancillary Businesses Liquid Funds – 10% Treasury Bonds Liquid Funds Term Funds

Private Equity – 60%

High Growth Assets

Personal Arts

Auction Houses

Art Galleries

Historical Monuments

Public Equity – 30%

Equity Listed in Bourses

Ancillary Businesses

Liquid Funds – 10%

Treasury Bonds

Liquid Funds

Term Funds

From Investing in Art Investment in Art Industry

Art Industry – Private Equity MAPPING VALUE GLOBALLY !! Art Magazines Event Management firms Value services firms Media Channels Media Security Services Software IT (Art oriented Supply Chain Management Financial Services Services Auction Houses Museums Galleries Online Stores Specialty Stores Business

Art Magazines

Event Management firms

Value services firms

Media Channels

Security Services

Software IT (Art oriented

Supply Chain Management

Financial Services

Auction Houses

Museums

Galleries

Online Stores

Specialty Stores

Investment Criteria Proven business model, scale-up potential With strong international expansion potential Significant and quantifiable barriers to entry Strong management team and a clear path of succession, including retention of exiting owners at the board level in active and clear management strategies Customary protection of minority shareholders rights, right of first refusal, drag along, tag along and other customary provisions Active board participation granted to METRIC Team, ongoing assistance with finance, M&A, international business development and investor relations functions Clear exit strategy over 5-year time horizon, including more than one option and allowing for over 25% in annualized IRR Deal size in excess of INR 1 million; for deals above USD 20 million in size co-investors would be invited MAPPING VALUE GLOBALLY !!

Proven business model, scale-up potential

With strong international expansion potential

Significant and quantifiable barriers to entry

Strong management team and a clear path of succession, including retention of exiting owners at the board level in active and clear management strategies

Customary protection of minority shareholders rights, right of first refusal, drag along, tag along and other customary provisions

Active board participation granted to METRIC Team, ongoing assistance with finance, M&A, international business development and investor relations functions

Clear exit strategy over 5-year time horizon, including more than one option and allowing for over 25% in annualized IRR

Deal size in excess of INR 1 million; for deals above USD 20 million in size co-investors would be invited

Investment Criteria – Segment Wise MAPPING VALUE GLOBALLY !! Art Magazines Event Management firms Value services firms Media Channels Media Security Services Software IT (Art oriented Supply Chain Management Financial Services Services Auction Houses Museums Galleries Online Stores Specialty Stores Business Development Stage Min net worth of INR 10 mn Management Dependent Metros (MUM & DEL) Later Stage companies Broader resource of Product Technologically upgraded 3-5 years of Track record Later Stage companies Scalable Business Model Improving Cash flows 4-5 years of track record International expansion

Art Magazines

Event Management firms

Value services firms

Media Channels

Security Services

Software IT (Art oriented

Supply Chain Management

Financial Services

Auction Houses

Museums

Galleries

Online Stores

Specialty Stores

Development Stage

Min net worth of INR 10 mn

Management Dependent

Metros (MUM & DEL)

Later Stage companies

Broader resource of Product

Technologically upgraded

3-5 years of Track record

Later Stage companies

Scalable Business Model

Improving Cash flows

4-5 years of track record

International expansion

MAPPING VALUE GLOBALLY !!

MAPPING VALUE GLOBALLY !!

MAPPING VALUE GLOBALLY !!

MAPPING VALUE GLOBALLY !!