THE ONLINE MARKETPLACE FOR THE PRIVATE EQUITY FUND COMMUNITY
INDEXp. 3EXECUTIVE OVERVIEW	P. 4THE PALICO VISION FOR THE PRIVATE EQUITYFUND COMMUNITYp. 9PALICO - THE ONLINE MARKETPLACE ...
EXECUTIVE OVERVIEW PALICO - THE ONLINE MARKETPLACE FOR THE PRIVATE EQUITY FUND COMMUNITY Palico is the online marketplace ...
THE PALICO VISION FOR THE PRIVATE EQUITY FUND COMMUNITY MEETING THE RIGHT PEOPLE: EXISTING BUSINESS CIRCLES ARE NO LONGER ...
•	 LPs also had to bring secondary stakes to market to bring their private equity   holdings in line with thresholds impos...
•	 First generation platforms that surfaced in the mid-2000s gained little traction.   They sought to establish themselves...
•	 The need to unite global primary and secondary investing - The platform   must introduce its members to pools of qualif...
fundraising and secondary opportunities, as well as simplified participation insecondary processes. GPs must be offered a ...
PALICO - THE ONLINE MARKETPLACE FOR THE PRIVATE EQUITY FUNDCOMMUNITY Palico is the first self-service online marketplace f...
•	 Lets GPs communicate to qualified investors with an interest in their investment   strategy – before, during and after ...
LETTING LPS EFFICIENTLY DISCOVER & ENGAGE PRIMARY,SECONDARY, AND CO-INVESTMENT OPPORTUNITIES LPS STRUGGLE WITH INADEQUATE ...
LPs remain anonymous to all other members on the platform as they scan andshortlist potential opportunities. The platform ...
As LPs explore and browse the profiles of GPs of interest, the LPs can decide toanonymously ‘follow’ specific GPs. From th...
Innovative multi-step buying and selling processThe innovative platform provides LP members with an ingenious multi-step b...
Complementing this collaborative approach to exploring and engaging opportunitieson Palico, team members can share their n...
LETTING GPS ACCELERATE THEIR MARKETING WITH AN INDUSTRYUNIQUE ONLINE MARKETING PLATFORM GPS STRUGGLE WITH INADEQUATE FUNDR...
ALLOWING GPS TO ACCELERATE THEIR MARKETING WITH AN INDUSTRYUNIQUE ONLINE MARKETING PLATFORMPalico is the first secure, reg...
•	 And after fundraising, easily stay in touch with LPs who didn’t enter your fund but   asked to stay informed.•	 And if ...
SECURE, REGULATED AND NEUTRAL Palico is a secure, regulated, and neutral online marketplace. The platform was engineered f...
•	 Compliance Enforcement Features - All participants are vetted through a simple   boarding process that guarantees to al...
BOARD OF ADVISORS The Palico Board of Advisors is an essential, and strengthening, component of the Palico organization. T...
1991. He was a policy advisor to the governments of Indonesia, Egypt, Uzbekistan,Kazakhstan, Ukraine, Belarus, Russian Fed...
created, developed, and co-managed AXA Private Equitys secondary and fund of fund team. Mr. Florin holds an MBA from Laval...
Jeff Davidson - Vice President, Head of Americas SalesJeff heads sales in North and South America. Before joining Palico, ...
Bruno Lafleur, CA, CFA - Vice President, EMEA Member RelationshipsBruno Lafleur heads Member Relationships for Europe, the...
CONCLUSION Many factors are prompting all members of the global private equity fund community to seek potential counterpar...
•	 Lets GPs communicate with qualified investors with an interest in their investment   strategy – before, during and afte...
NEW YORK                                           420 Lexington Avenue, Suite 1425                                       ...
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Read the Palico white paper to learn how the online marketplace will let you easily meet and engage with qualified counterparts online.

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Palico White Paper

  1. 1. THE ONLINE MARKETPLACE FOR THE PRIVATE EQUITY FUND COMMUNITY
  2. 2. INDEXp. 3EXECUTIVE OVERVIEW P. 4THE PALICO VISION FOR THE PRIVATE EQUITYFUND COMMUNITYp. 9PALICO - THE ONLINE MARKETPLACE FOR THEPRIVATE EQUITY FUND COMMUNITY p. 11LETTING LPS EFFICIENTLY DISCOVER & ENGAGEPRIMARY, SECONDARY, AND CO-INVESTMENTOPPORTUNITIES p. 16LETTING GPS ACCELERATE THEIR MARKETINGWITH AN INDUSTRY UNIQUE ONLINEMARKETING PLATFORM p. 19SECURE, REGULATED, AND NEUTRAL p. 21BOARD OF ADVISORS p. 23MANAGEMENT TEAM p. 26CONCLUSION p.2 Palico Corporate White Paper © Palico 2012
  3. 3. EXECUTIVE OVERVIEW PALICO - THE ONLINE MARKETPLACE FOR THE PRIVATE EQUITY FUND COMMUNITY Palico is the online marketplace for the private equity fund community. Limited partners, general partners, placement agents, and gatekeepers from over 100 countries can access the Palico marketplace to meet and engage with qualified primary, secondary, and co-investment counterparts. Limited partners achieve unprecedented market coverage and productivity in their opportunity discovery process, and easily sell and buy secondary fund stakes. General partners leverage unique online capabilities to broaden their marketing efforts beyond their established business circle. Placement agents extend the reach of their fundraising and secondary mandates. Gatekeepers discover and select investment opportunities on behalf of their LP clients. Palico is a secure, neutral and regulated platform that helps all members comply with applicable regulations. With its exclusive primary, secondary, and co-investment opportunity discovery environment, counterpart engagement services, support for buying and selling secondary fund stakes, and a bespoke, innovative news service, Palico is uniting the private equity fund community. The self-service platform is conveniently accessible from Internet browsers and Apple® iPhone®, Android™, and RIM ® Blackberry ® mobile applications. p.3 Palico Corporate White Paper © Palico 2012
  4. 4. THE PALICO VISION FOR THE PRIVATE EQUITY FUND COMMUNITY MEETING THE RIGHT PEOPLE: EXISTING BUSINESS CIRCLES ARE NO LONGER ENOUGH The private equity fund marketplace has vastly expanded over the past twenty years. Yet, there is a striking discrepancy between its multi-trillion dollar footprint and its lack of adoption of digital marketplace technologies. The Internet has demonstrated a unique ability to bring together sellers and buyers in all sorts of markets. The process of matching general partners (GPs) and limited partners (LPs) with primary and secondary investors remains heavily reliant on personal interactions. For the most part, counterpart identification and engagement are done through email, the telephone, and face-to-face meetings. As a consequence, transactions largely take place within fragmented national or regional business networks. THE CHALLENGE FOR LPS: ACCESSING NEW GEOGRAPHIES AND NEW STRATEGIES Multiple factors, accentuated by the global financial crisis, are now forcing all participants to seek counterparts beyond their established business circles. Many LPs are cutting back on the number of funds they invest in. They are simultaneously increasing stake size and board influence while seeking new investment opportunities – including specialized sectorial or geography-specific funds, pledge funds and co-investment programs. Discovering and engaging counterparts for these innovative investment programs is challenging for LPs confined to their established business circle. With the current volatility in public markets, both new and relatively inexperienced private equity investors – lacking established private equity relationship networks – are turning to the asset class. For these LPs – as well as for geographically remote investors – the need for self-service, online access to the global private equity fund marketplace is particularly strong. THE CHALLENGE FOR LPS: BUYING AND SELLING SECONDARIES Secondary sales of private equity fund stakes are firmly on the rise. The stressed and distressed sellers of the global financial crisis are now followed by a new set of LPs who are turning to secondaries to actively manage their investment portfolio. During the global financial crisis, some limited partners had to initiate secondary sales due to liquidity, allocation, and regulatory constraints. • LPs unable to meet capital calls put their private equity holdings up for sale. • Others – with the fall in traded equity value – saw the percentage of their portfolio invested in private equity rise above internal target allocations. Known as the denominator effect, this triggered a sharp rise in secondary sales. p.4 Palico Corporate White Paper © Palico 2012
  5. 5. • LPs also had to bring secondary stakes to market to bring their private equity holdings in line with thresholds imposed by new regulations (Basel III, Solvency II, Dodd Frank).The financial crisis’ stressed and distressed sellers created attractive buyingopportunities for many LPs. As the crisis now recedes away, forward-looking LPs arenow turning to secondaries as an attractive option for investing in funds of interest.However, the challenges associated with finding qualified secondary counterpartswithin one’s network, auctioning secondary stakes, and rapidly settling transactionsare severely hampering the growth of deal flow.There is a strong need for a neutral, online platform that facilitates, on a global scale,swift and confidential selling and buying of secondary private equity stakes betweenfrequent, occasional, and opportunistic buyers and sellers.THE CHALLENGE FOR GPS: FORGING NEW INVESTOR CONNECTIONS BEYONDTHEIR BUSINESS CIRCLEThe financial crisis has led many general partners to experience greater difficulty asthey raise new funds – prompting them to seek new investors beyond their businesscircle.GPs who may never encounter such challenges nevertheless look to diversify theirinvestor base, to lower their dependency on a single category of investors.In large part owing to LPs’ greater attention to performance, GPs are also increasinglyspecializing their investment strategy or geographical focus. For specialized funds, butalso for first-time funds, pledge funds, and those far from the world’s financial hubs,the need to market themselves beyond their existing network is particularly acute.For these reasons, GPs are in clear need of an easy-to-use online platform thatfacilitates secure, regulated and compliant marketing and communications to theglobal limited partner community.THE CHALLENGE FOR ADVISORS: CONNECTING WITH COUNTERPARTS BEYONDTHEIR ESTABLISHED NETWORKSPlacement agents and gatekeepers are essential participants in the private equityfund marketplace. The rapid globalization of the private equity fund industry – beyondregional and national borders – is also prompting them to expand their outreach tocounterparts, beyond their relationship network.UNSUCCESSFUL ATTEMPTS AT ESTABLISHING ONLINE MARKETPLACES FOR THEPRIVATE EQUITY FUND COMMUNITYPast attempts at establishing online marketplace platforms for the private equity fundindustry have not delivered. p.5 Palico Corporate White Paper © Palico 2012
  6. 6. • First generation platforms that surfaced in the mid-2000s gained little traction. They sought to establish themselves as online exchanges for the emerging secondary market. They failed to acknowledge the complexity of secondary fund stake transfers, and to provide the regulatory framework necessary to carry out actual transactions. They became infrequently used online bulletin boards.• More recently, platforms have been introduced to support the online execution of secondary transactions. With the operational complexity of executing secondary deals, such services are of great value. However, the core challenge of the secondary market is to bring interested counterparts together. By focusing solely on the small community of repeat LP buyers and sellers, and failing to reach out to the much larger primary LP audience, these platforms have been slow to gain momentum.• Since 2010 online exchanges for non-listed company stocks, exclusive communities for family offices, networks geared at middle market merger and acquisition transactions, and marketplaces for secondary hedge fund transactions have emerged. These ‘Private Market Networks’ are obviously not suited to address the specific requirements of the private equity fund industry. But their success does demonstrate the potential for a ‘Private Market Network’ dedicated to the global private equity fund community.No online platform has set out to service the full private equity fund market, coveringboth primary fundraising and secondary opportunities, and focused on bringingqualified LP and GP counterparts together.KEY REQUIREMENTS OF AN ONLINE MARKETPLACE FOR THE GLOBAL PRIVATEEQUITY FUND COMMUNITYIn order to overcome the challenges of a fragmented industry that is overly reliant onpersonal business connections, Palico believes an online marketplace for the globalprivate equity fund community must address the following demanding requirements:• The need for market neutrality - The online marketplace must be neutral, never promoting an opportunity over another, or providing investment advice. It must act as an unbiased gateway that facilitates introductions and exchanges of information between all counterparts.• The need to align and balance all participants’ interests - The platform must be designed with the goal of strengthening the market position for all its members. Through strict monitoring of member activities, it must also ensure that no participant “rigs the system”.• The need to promote transparency and standardization - With the guarantee of a level playing field, the online marketplace must give all its members access to the same information presented in a standardized format. Members should be asked to fill in standardized forms, regarding their organizations, and any investment opportunities that they present on the platform. p.6 Palico Corporate White Paper © Palico 2012
  7. 7. • The need to unite global primary and secondary investing - The platform must introduce its members to pools of qualified counterparts that are far wider than those they can tap into today. In order to do so, the platform must unite the primary and secondary markets. Palico believes a platform that blends primary and secondary opportunities will successfully introduce primary buyers to the secondary market, and thus augment the industry’s secondary deal flow. Palico feels that many LP investors will be interested in secondary stakes in funds that have already proven their worth, and where money is already hard at work.• The need to support, not replace human interactions - The platform should support offline interactions rather than seek to replace them. The platform should facilitate the day-to-day work habits of market participants, allowing them to cover the market more efficiently without requiring them to change the way they work.• The need for anonymity - The online marketplace must ensure knowledge of its members’ presence on the platform is tightly controlled. LPs must be invisible to all participants, except those members with whom they have made an introduction. The online marketplace must guarantee LPs’ preference to remain anonymous in the preliminary phases of a primary screening process, only revealing their identity when soliciting authorization for the LP to view confidential marketing or due diligence documents from the relevant counterpart. The identity of a seller of a secondary stake must be concealed to all interested buyers other than to the final buyer of the stake.• The need for confidentiality - The platform must guarantee fully secure and controlled access to all information provided by its members. The platform must offer virtual data room features that allow all members to only disclose confidential information to the counterparts of their choice. Electronic signing of non-disclosure agreements must also be supported.• The need to facilitate regulatory compliance - The multitude of laws that make investing in, and from, countries a complex operation has hampered the emergence of a digital marketplace. The platform must facilitate compliance with complex, and changing, regulatory and tax frameworks in over 100 jurisdictions. All participants must be vetted through a simple on-board process that guarantees to everyone that all online interactions are done with pre-approved counterparts. Of crucial importance, the platform must provide GPs and secondary LP sellers with digital marketing mechanisms that allow them to comply with the regulations in their own jurisdiction, with the jurisdictions of the counterparts to whom they market, and with tax requirements that may apply to the relevant fund interests being transferred through the online marketplace (for example, US regulations applicable to publicly-traded limited partnerships).• The need to service each party’s unique requirements - The online platform ought to present a distinct face to each of the constituencies it services. LPs must be provided with an environment that offers both efficient discovery of global p.7 Palico Corporate White Paper © Palico 2012
  8. 8. fundraising and secondary opportunities, as well as simplified participation insecondary processes. GPs must be offered a secure and regulated marketingenvironment that simplifies and accelerates their fundraising efforts. The platformmust also support the critical role of placement agents and gatekeepers astrusted market intermediaries. Gatekeepers must be able to discover and engageinvestment opportunities on behalf of their clients. Placement agents must beallowed to represent the interests of multiple clients effectively – both fundraisingGPs, as well as secondary LP buyers and sellers. p.8 Palico Corporate White Paper © Palico 2012
  9. 9. PALICO - THE ONLINE MARKETPLACE FOR THE PRIVATE EQUITY FUNDCOMMUNITY Palico is the first self-service online marketplace for the global private equity fund community. With its exclusive primary, secondary, and co-investment opportunity discovery environment, counterpart engagement services, support for buying and selling secondary fund stakes, and a bespoke, innovative news service, Palico aims to unite the fragmented, global private equity fund community. The platform is conveniently accessible from Internet browsers and Apple® iPhone®, Android™, and RIM® Blackberry ® mobile applications. LETTING LPS DISCOVER & ENGAGE WITH QUALIFIED PRIMARY, SECONDARY, AND CO-INVESTMENT OPPORTUNITIES Palico provides LPs with the first online environment designed to accelerate their ongoing investment discovery and counterpart engagement process across fundraisings, secondary opportunities, and co-investment programs including pledge funds. The unique, easy-to-use online platform allows LPs to effectively cover all market segments of interest to them, to engage with qualified counterparts, and to easily buy and sell secondary fund stakes. Palico truly simplifies the way LPs source opportunities and engage with counterparts the world over. For the first time, a self-service online platform allows LP teams to: • Identify current investment opportunities for primaries, secondaries, and co- investments. • Engage with GPs and gain quick online access to their marketing and due diligence material. • Rapidly set-up face-to-face meetings with GPs of interest. • Easily buy and sell secondary fund stakes. ENABLING GPS TO ACCELERATE THEIR MARKETING Palico provides GPs with the first integrated online marketing environment designed to facilitate compliant, regulated, and secure outreach to active and qualified investors. Supported marketing tactics include the promotion of marketing material on GPs’ profiles, message broadcasting to all LPs with a declared interest in GPs’ investment strategies, and help in booking face-to-face meetings with potential investors. The unique self-service online marketing environment: • Allows GPs to leverage existing marketing and communications material to generate sustained streams of qualified leads into their investor pipeline. p.9 Palico Corporate White Paper © Palico 2012
  10. 10. • Lets GPs communicate to qualified investors with an interest in their investment strategy – before, during and after fundraising.• Simplifies the organization of offline meetings with LPs.• Accelerates GPs’ fundraising campaigns.PROVIDING PLACEMENT AGENTS WITH DELEGATED FUNDRAISING AND SECONDARYMANDATE CAPABILITIESPlacement agents may access the platform to support their delegated fundraising,and secondary placement or buyer mandates. Palico allows placement agents topublicize the mandates they are engaged in, and recruit new clients, at the same timeas partaking in the marketplace on behalf of their fundraising and secondary clients.OFFERING DELEGATED DISCOVERY & SCREENING CAPABILITIES TO GATEKEEPERSPalico allows gatekeepers to discover, screen and select investment opportunities onbehalf of their LP clients.PROVIDING ALL PARTICIPANTS WITH SIMPLIFIED DISCOVERY & ENGAGEMENT OFRELEVANT COUNTERPARTSThe online marketplace provides all members with vastly simplified discovery andengagement of relevant counterparts for fundraising, secondary transactions,pledge funds, and co-investment programs. The novel and easy-to-use self-serviceplatform supplements members’ existing market coverage capabilities. In a secureand regulated environment, and in a simple and efficient way, Palico’s memberscan engage – at a limited cost – with the broadest set of market participants. Whileall the time respecting mutual anonymity and one anothers sensitivity towards thedisclosure of information. p.10 Palico Corporate White Paper © Palico 2012
  11. 11. LETTING LPS EFFICIENTLY DISCOVER & ENGAGE PRIMARY,SECONDARY, AND CO-INVESTMENT OPPORTUNITIES LPS STRUGGLE WITH INADEQUATE DISCOVERY & ENGAGEMENT PROCESSES In an industry that is fast globalizing, LPs find it increasingly difficult to discover and engage with qualified counterparts beyond their established business circle. No solution exists that enables them to cover the full market, be productive in their discovery process, and rapidly engage with potential counterparts. • LPs spend much time going through multiple news outlets and databases to find the information that is relevant to their sourcing process. • Many LPs take a dual approach to sourcing that combines systematic screening of certain market segments, with opportunistic investigation of potential fundraising or secondary investments. For LPs the challenge is to avoid missing a relevant opportunity in the segments they screen, while at the same time identifying pertinent ideas in areas not directly on their radar screen. • Beyond fundraisings, LPs find it difficult to identify pledge funds and other co- investment programs. • When interested in an investment opportunity, LPs spend considerable time reaching out to GPs and potential secondary sellers to secure basic information about the opportunity. • LPs increasingly seek to invest in secondary opportunities, but have no means to reach out to potential sellers beyond cold-calling potential sellers, and contacting secondary intermediaries and GPs. • LPs considering a secondary sale are reluctant to communicate their intent to the market. • LPs rely on a variety of internal and third party tools that are not inter-connected, and have limited support for team collaboration. EXPLORING OPPORTUNITIES: PROVIDING LPS WITH BROAD MARKET COVERAGE AND EFFICIENT DISCOVERY SPANNING PRIMARIES, SECONDARIES, AND CO-INVESTMENTS Palico offers the first platform designed to accelerate and facilitate LPs’ ongoing investment discovery process for primary, secondary, and co-investment opportunities. Armed with Palico’s opportunity screener tool, LPs can scan and shortlist potential opportunities that reflect their very own investment strategy. LPs may slice, dice, and explore over 5,000 GP profiles – and their current primary, secondary, and co-investment opportunities – using a convenient filtering interface and multiple criteria and filters. p.11 Palico Corporate White Paper © Palico 2012
  12. 12. LPs remain anonymous to all other members on the platform as they scan andshortlist potential opportunities. The platform is a one-way mirror, behind whichLPs conceal their identity in the early phase of the discovery process.When they request access to confidential marketing documents, and due diligencematerial stored within GPs’ secure Palico virtual data rooms, LPs must disclose theiridentity to individual GPs. LPs must also reveal their identity to secondary LP sellersas they enter the ‘formal’ phase of a secondary process. This process is described at alater stage in this white paper.KEEPING UP-TO-DATE: LETTING LPS KEEP AN EYE ON THE RADAR SCREEN ATALL TIMESPalico works 24/7 for LPs. At each visit the LPs’ personal Palico dashboard offers asuccinct news digest, GP communications, invitations to meet face-to-face with GPs,plus new, targeted opportunities that perfectly match the LPs’ strategies.LP members can use the opportunity screener interface to declare and save one, orseveral, personal investment strategies. An investment strategy is an intersection ofmultiple investment criteria within the Palico opportunity screener. For example, amember might select ‘Mezzanine’, ‘Industrial’, and ‘Europe’.As members return to the platform at a later date, they are presented with qualifiedinformation – for their strategies.1. Platform alerts: members are alerted when new funds enter fundraising mode, secondary fund stakes appear on the market within one of their saved Palico strategies, or actions are to be taken with respect to an opportunity on the marketplace.2. GP communications: short messages sent by GPs with investment strategies matching strategies saved by LPs are presented to the LPs every time they log onto the platform.3. Press digest: recent press coverage and news digests pertinent to their saved strategies are presented to LPs, each time they visit the platform. Palico’s global press team is continuously monitoring a broad set of news sources covering the global private equity industry. The press team categorizes individual news elements using the same investment strategy definition criteria Palico uses to organize opportunities, in the Palico opportunity screener. All coverage and corresponding Internet links for a single news topic are edited and summarized in a single Palico 140-character news digest. Members only receive press coverage relating to their saved strategies – allowing them to rapidly browse all news items linked to their current sectorial and geographic interests. Readers may immediately comment on any given news digest. Their reaction is visible to colleagues, who may in turn react and start a discussion thread. p.12 Palico Corporate White Paper © Palico 2012
  13. 13. As LPs explore and browse the profiles of GPs of interest, the LPs can decide toanonymously ‘follow’ specific GPs. From then on – and with total anonymity – the LPsare notified about any new opportunities related to their ‘followed’ GPs. The LPs alsoreceive press digests and short messages broadcasted by the ‘followed’ GPs.Thanks to the opportunity screener tool, Palico gives LPs a snapshot of the globalmarket at any given time. Via their personal dashboard that presents them withrelevant market updates, LPs continuously ‘keep their ear to the ground’. In short,Palico allows LPs to adopt both a strategic, and an opportunistic, approach toinvestment.ENGAGE COUNTERPARTSInstant access to ongoing fundraisings’ marketing & due diligence documentsWhen a GP on the platform captures the interest of an LP, the LP may rapidly requestaccess to the GP’s marketing and due diligence documents, in exchange for fulldisclosure of their identity, and, optionally at the request of the GP, answers to GP-provided investor qualification questions. GPs are free to accept or reject individualLP requests for access to their confidential marketing and due diligence material.Rapidly set up face-to-face meetings with GPsPalico allows GPs to inform LPs when they are planning to visit a city or a designatedlocation, for example, for a private equity conference. LPs interested in setting up ameeting may respond to the GP, and Palico helps both the GPs’ and the LPs’ assistantsbook the meeting. In this way Palico creates value by generating face-to-face meetingsthat would not otherwise have taken place.BUYING AND SELLING SECONDARIESSecondary sales of private equity fund stakes are on the rise. Stressed and distressedsellers in the financial crisis opened the market up to a new category of participantswho see secondary transactions as an effective way to actively manage theirinvestment portfolio. But severely hampering growth in the secondary deal flow arechallenges such as finding the right buyer or seller and auctioning secondary stakes.Palico believes the secondary market’s untapped potential lies among opportunisticsellers and buyers.• Palico believes LPs will consider selling a stake, if the price is right, and an online platform takes the pain out of undertaking such deals.• Palico trusts that, given the opportunity, many primary buyers will consider entering into funds that have already proven their worth, and where money is already hard at work.With the vision of fostering transactions between frequent, occasional, andopportunistic secondary buyers and sellers, Palico offers end-to-end support forbuying and selling secondary private equity fund stakes. p.13 Palico Corporate White Paper © Palico 2012
  14. 14. Innovative multi-step buying and selling processThe innovative platform provides LP members with an ingenious multi-step buyingand selling process.1. Indicative gauging of market interest LPs willing to test the market’s interest in one of their fund stakes may rapidly create a ‘quote request’ asking other LPs to provide them with a non-binding, indicative expression of interest for the stake, along with optional indicative pricing. Before making the quote request public, the Palico team validates the potential seller is an investor in the relevant fund by requesting evidence of ownership. Once ownership has been confirmed, the new secondary quote request becomes accessible to all LPs on the platform, alongside primary opportunities. Interested buyers respond to the seller with a non-binding indicative quote based on the information at their disposal, or by simply stating their interest in the stake.2. Qualified buyer leads If the market shows interest, and the seller feels the price is right, the seller may indicate to Palico that they are formally putting their stake up for sale, while maintaining anonymity. At this point the identity of the LPs who participated in the indicative step is revealed to the seller. The seller may at this stage contact the candidate buyers offline, or, optionally, launch a formal auction process on the platform.3. Formal auction Optionally, after being given the identity of candidate buyers, the seller may launch a formal auction process on the platform. The seller may at this point screen out certain candidates, in order to retain a sub-set. Retained potential buyers are informed that they are now given the opportunity to enter a formal bid process for the stake. They are also granted access to the virtual data room for the auction. They may decide to leave the process at this point, or submit a formal bid. In turn, the platform captures secondary bids, declares a winner, and communicates auction results to the participants. The seller’s identity is only then revealed to the winner.ON-THE-GO COLLABORATIONParallel to advanced customization for each individual’s experience on the platform,Palico is also designed to support LP teams’ deeply collaborative screening process.A team-shared ‘opportunity pipeline’ reflects individual interactions with counterparts.The pipeline identifies all ‘followed’ LPs, those who have opened, or refused, access totheir marketing and due diligence material, and those who have been discarded. Theteam’s involvement in secondary processes is visible in the pipeline. p.14 Palico Corporate White Paper © Palico 2012
  15. 15. Complementing this collaborative approach to exploring and engaging opportunitieson Palico, team members can share their notes on all investment opportunities withthe rest of their team.LPs are given mobile access to core functionality of the platform from a mobileapplication for Apple® iPhone®, Android™ and RIM® Blackberry® smartphones. Themobile application provides on the road access to the opportunity screener, newsdigests, and collaborative functionality. p.15 Palico Corporate White Paper © Palico 2012
  16. 16. LETTING GPS ACCELERATE THEIR MARKETING WITH AN INDUSTRYUNIQUE ONLINE MARKETING PLATFORM GPS STRUGGLE WITH INADEQUATE FUNDRAISING & ONGOING INVESTOR RELATIONS PROCESSES GPs dedicate significant time and resources towards fundraising and managing investor relations. Many GPs struggle with inadequate tools and processes as they raise funds and engage with potential counterparts. Before and after fundraising, GPs often have no easy way to communicate with potential investors. • Spending time organizing meetings and producing marketing content is a distraction from the GPs’ core investment activity. • There is no perfect solution for GPs seeking to find the right people outside their current investor base. Attending conferences is costly, time consuming and often yields unqualified LPs. Reaching out to lists of LPs is an inefficient hit-or-miss exercise, and may generate frustration from over-solicited LPs. Straight cold-calling or emailing is also typically prohibited by private placement regulations in the relevant jurisdictions where marketing efforts are being targeted. • First-time fundraisers, GPs geographically remote from the world’s financial centers, and those with specialized investment strategies, or innovative investment programs, find it particularly challenging to raise funds in an effective fashion. • LPs or gatekeepers, that the GPs may not know well, often contact GPs. GPs usually accept to share information and set up meetings with them on the premise that these interactions will potentially lead to a fund commitment. But it is difficult for GPs to get background information on these counterparts, and to assess the likelihood of these contacts committing to their funds. • While fundraising, GPs have to organize face-to-face meetings with target LPs, both at home and abroad. GPs often travel to remote locations for just a few meetings with significant idle time between meetings – precious time that could be used to meet qualified investors. • GPs looking to form a group of co-investors, or to formally set-up a pledge-fund structure with several LPs, have limited financial resources to use towards their marketing efforts, particularly because these mechanisms do not include upfront management fees. In addition, these initiatives do not lend themselves to the marketing tactics used in more traditional fundraisings. • Private placement regulations typically do not allow GPs to publicly prospect for investors in their funds. Corporate websites, broadcasting media (emailing, direct mail) and public news outlets are thus of very limited use for GPs in their fundraising efforts. p.16 Palico Corporate White Paper © Palico 2012
  17. 17. ALLOWING GPS TO ACCELERATE THEIR MARKETING WITH AN INDUSTRYUNIQUE ONLINE MARKETING PLATFORMPalico is the first secure, regulated, and neutral online marketing environment thatallows GPs to harvest qualified LP leads, communicate with qualified LP investorsfor their fundraisings and co-investment programs, and set up face-to-face meetingswith LPs.Palico’s research team maintains contact information and investment strategy fornearly 5,000 of the world’s leading private equity GPs. When joining Palico, GPs takecontrol of the information displayed on their profile, with the ability to easily edit andupdate their primary points of contact, funds under management, their investmentportfolio and their professional and office listings.HARVESTING INVESTOR LEADSGPs may promote as many marketing documents as they wish from their publicprofile. Some documents may be offered to all LPs on the platform with no need todisclose their identity or to secure authorization from the GP. In order to be accessedby an LP, other documents may require the LP to disclose their identity to the GP, andfor the GP to explicitly grant access to the document.Information promoting each asset is rapidly input using an intuitive interface.Individual marketing documents are easily uploaded and documents may beautomatically converted to lightweight Adobe PDFs, and watermarked by the platformto further ensure confidentiality of the material accessed by LPs on the platform.Interested LPs reveal their identity in exchange for access to GPs’ restricted marketingand due diligence documents – creating new leads in the GP’s investor pipeline.Palico gives GPs the option to tailor short qualifying questions that are submitted toLPs who request access to restricted marketing or due diligence material.LETTING GPS COMMUNICATE WITH QUALIFIED INVESTORS - BEFORE, DURING,AND AFTER FUNDRAISINGOn Palico, sending marketing messages to all LPs with an interest in your investmentstrategy is as easy as sending an email – yet much more targeted and secure. Palicolets you communicate with investors at all times, in a controlled, auditable, secure,and compliant fashion.• Ping LPs to ask them for feedback about a potential strategy you’re investigating.• Communicate important news about your firm, such as successful exits and important hires.• Create new leads by sending messages that prompt LPs to disclose their identity in exchange for a marketing document – the way marketers in other industries send emails to create leads.• Keep momentum going during fundraising by “nurturing leads” with exclusive thought-leadership content. p.17 Palico Corporate White Paper © Palico 2012
  18. 18. • And after fundraising, easily stay in touch with LPs who didn’t enter your fund but asked to stay informed.• And if you’ve got an ad-hoc co-investment opportunity, simply ping all the LPs and promote the opportunity.Staying in touch with the global community of LPs interested in your strategy – at allstages in your investment cycle – has never been easier.SETTING UP FACE-TO-FACE MEETINGSPalico enables GPs to suggest meetings to all LPs in the cities they visit or theconferences they attend. This information is made available to all LP members.LPs can easily express their interest in meeting with a given GP, and the platform evensends an email to both parties’ assistants, in order to set up a face-to-face meeting.Palico makes possible face-to-face meetings that would otherwise not have happened.No more wasted afternoons in a far away city, that you could have put to good use tomeet potential investors.ON-THE-GO ACCESSGPs can access core platform functionality from mobile applications for Apple®iPhone®, Android™, and RIM® Blackberry® handsets.All requests for immediate action, such as requests for access to marketing or duediligence documents, can be accessed from these mobile applications.NEWS DIGEST SERVICEThe bespoke Palico press service, that provides a targeted news stream based on theGPs’ declared investment strategies, is fully accessible via the Internet browser andthe mobile application versions of Palico. p.18 Palico Corporate White Paper © Palico 2012
  19. 19. SECURE, REGULATED AND NEUTRAL Palico is a secure, regulated, and neutral online marketplace. The platform was engineered from the ground up with these stringent requirements in mind. They are the three design principles and pillars on which the marketplace rests. SECURE A secure platform guarantees that the confidential data it is entrusted with by its members is securely stored, employing the most demanding security technologies used by government agencies around the world. A secure platform also guarantees its members the anonymity they choose to keep in the marketplace, and provides them with fine-grained disclosure of their sensitive material, only to members they authorize. • Anonymity - The online marketplace ensures knowledge of its members’ presence on the platform is tightly controlled. LPs are invisible to all participants other than to those members with whom they have introduced themselves. Palico guarantees LPs’ preference to remain anonymous in the preliminary phases of a primary or co-investment process. LPs only reveal their identity when soliciting authorization to view confidential marketing or due diligence documents. In a secondary auction process, the identity of a seller of a secondary stake is concealed to all others, apart from the final buyer of the stake. • Confidentiality - The platform guarantees fully secure and controlled access to all information provided by its members. The platform offers virtual data room features that allow all members to only disclose confidential information to the counterparts of their choosing. Electronic signing of non-disclosure agreements is supported. • Data Security - Palico houses its data in a state of the art data center. All documents stored by Palico users on the platform are encrypted and decrypted on the fly when they are accessed by authorized counterparts. All browser sessions are performed in SSL mode from login to log-off – ensuring that no interception is possible. All user accounts are provisioned and de-provisioned by the Palico team. REGULATED Palico is a regulated platform that holds broker dealer licenses in the United States and the European Union. It also hardwires functionality that help Palico’s members comply with applicable regulations in their counterparts’ jurisdiction. And our internal member relationships team continuously polices the platform. • Registered Broker Dealer Status - Palico is a registered broker dealer in the United States and the European Union. Thanks to its strict broker-dealer environment, the marketplace helps you comply with regulations applicable to your private equity investment fund activities throughout the platform. p.19 Palico Corporate White Paper © Palico 2012
  20. 20. • Compliance Enforcement Features - All participants are vetted through a simple boarding process that guarantees to all members that all online interactions are done with pre-approved counterparts. The platform helps GPs and secondary LP sellers comply with the regulations in their own jurisdiction, as well as with the jurisdictions of the counterparts to whom they are marketing.• Member Relationship & Platform Policing - The Palico member relationship team assists members in their online activities and polices the platform for inappropriate behavior and infringement of Palico’s internal rules.NEUTRALA neutral platform never promotes one party’s interest over the other, and sparesno effort to ensure that all of the members’ interests are aligned and maximized -thanks in part to transparent and standardized access to the same information by allmembers.• Marketplace Neutrality - The online marketplace is neutral, never promoting one opportunity over another, or providing investment advice. The marketplace acts as an unbiased gateway that facilitates introductions and exchanges of information between all counterparts. Palico’s flat subscription fee is a further guarantee of the platform’s neutrality, ensuring the platform does not rely on transaction success fees.• Alignment of Interests - The platform is designed with the goal to strengthen the market position of all its members. Through strict monitoring of member activities, it also ensures that no participant rigs the system.• Transparency & Standardization - The online marketplace gives all members access to the same information presented in a standardized format. p.20 Palico Corporate White Paper © Palico 2012
  21. 21. BOARD OF ADVISORS The Palico Board of Advisors is an essential, and strengthening, component of the Palico organization. The Board brings together prominent senior level individuals and acts as a bulwark against any conflict of interest that may arise in the course of operations. The Board facilitates strong networking relationships, and provides strategic advice and recommendations. Alongside Palico’s management team – comprised of seasoned private equity entrepreneurs and online industry professionals – the Board of Advisors contributes expert advice, ideas and diverse opinions that enrich Palico’s perspectives and analyses. For several years the Board of Advisors is expected to help guide the company’s strategy and direction. The Board of Advisors represents a diverse range of achievements and is testimony to the global ambition of the Palico online marketplace. Six prominent figures have accepted to join Palico’s Board of Advisors. They are: Lady Barbara Judge An American & British citizen, Lady Barbara Judge has been chairman of the UK Atomic Energy Authority since 2004. She is also currently a member of the UK Nuclear Development Forum, chairman of SOAS and a member of the boards of Massey Energy (USA), Bekaert NV (Belgium), Statoil ASA (Norway) and Murchinson United (Australian uranium mining company). She is also co-chairman of the UK/US Task Force for Corporate Governance and a member of the Asia Task Force. In addition, she is also a Public Member of the Intl Ethics Standards Board for Accountants and a member of the Board of the Royal Academy of Art and the US Council on Foreign Relations. Earlier in her career, Lady Judge was appointed as the youngest ever Commissioner at the US Securities and Exchange Commission in 1980. Roel Campos An American citizen, Mr. Campos served as Commissioner at the US Securities and Exchange Commission between 2002-07 and is now partner with Washington D.C. law firm Cooley Godward Kronish. Mr. Campos was named to President-elect Barack Obama’s economic advisory board and is a current member of the Committee on Capital Markets Regulation, an independent and non-partisan 501(c)(3) research organization dedicated to improving the regulation of US capital markets. Prof. N. Bülent Gültekin Professor Gultekin has been on the faculty of the Finance department of the Wharton School of the University of Pennsylvania since 1981. He was the Governor of the Central Bank of the Republic of Turkey, Chief Advisor to Prime Minister Turgut Özal, and President for Mass Housing and Public Participation Administration in Turkey. He served as the Chief Advisor to the Minister of Privatization in Poland during 1989- p.21 Palico Corporate White Paper © Palico 2012
  22. 22. 1991. He was a policy advisor to the governments of Indonesia, Egypt, Uzbekistan,Kazakhstan, Ukraine, Belarus, Russian Federation, and to the presidents NursultanNazerbaev, and Islam Karimov. He served as a senior advisor to many agencies in thepublic sector such as USAIS and European Bank of Restructure and Development, andhas been a consultant for many international firms. Professor Gutelkin received a BSc.in mechanical engineering from Robert College, an MBA from Bogazici University, anda Ph.D. from the Wharton School.Soud Ba’alawySoud Ba’alawy has over 20 years of experience in banking and investments, mostrecently (2000-2010) as the Executive Chairman of Dubai Group the diversifiedfinancial services company of Dubai Holding focusing on Banking, Investments andInsurance. Ba’alawy previously served as Vice President of Citibank’s Gulf Treasuryin Dubai, Chief Investment Officer of Dubai Internet City and Vice President of TheExecutive Office (of H.H. Sheikh Mohamed bin Rashid al- Maktoum, Vice Presidentof the UAE and the Ruler of Dubai). Known for his strategic insights, internationalperspective and entrepreneurial vision, Ba’alawy has held numerous internationalBoards positions, and led several milestone acquisitions and significant strategicinvestments for Dubai, and is a frequent speaker and advisor in public forums.Sheryl SchwartzSheryl Schwartz is Senior Managing Director at Perseus, a firm that invests in andmanages funds in mezzanine debt and private equity. At Perseus, Ms. Schwartzinvests in mezzanine debt investments, private equity investments, and managesinvestor relations. Prior to joining Perseus in 2010, Ms. Schwartz was head of TIAA-CREF’s alternative investment team, where she managed a team of 10 professionalsand was responsible for all fund, direct private equity co-investment, timber, andmezzanine debt opportunities on behalf of the organization. Throughout her staywith TIAA-CREF, Ms. Schwartz built a diversified portfolio of approximately $13billion of commitments in alternative investments. Ms. Schwartz has over 22 yearsof experience investing in fixed income and alternative investments. She serveson the Board of Directors of the Women’s Association of Venture and Equity, Inc.(WAVE), which is a non-profit organization that is committed to the development andadvancement of women in private equity and venture capital. She was also a long-time member of the Institutional Limited Partners Association (ILPA).Christophe FlorinChristophe Florin heads emerging markets fund investments for Abu Dhabi InvestmentAuthority (ADIA)s private equity business. Mr. Florin was formerly Member of theExecutive Board, COO, and headed Asian operations at AXA Private Equity, a globalleader in the private equity fund industry with over $28 billion in private equityinvestments across multiple strategies, including funds of funds, buyout, mezzanine,and infrastructure. Mr. Florin participated in the creation and development of AXAPrivate Equitys Asian operations from Singapore, investing over $1.2 billion in theregion across funds of funds, co-investments and secondaries. Earlier, Mr. Florin p.22 Palico Corporate White Paper © Palico 2012
  23. 23. created, developed, and co-managed AXA Private Equitys secondary and fund of fund team. Mr. Florin holds an MBA from Laval University in Quebec, Canada, and an MSc from Institut dEtudes Politiques (Sciences Po) in Paris.MANAGEMENT TEAM The Palico management team is comprised of seasoned private equity entrepreneurs and online industry professionals. They all contribute unique private equity, online platform development, and sales & marketing expertise to the venture. Antoine Dréan - Founder, Chairman & CEO Antoine heads Palico. He has over 20 years of experience as an industry pioneer, having successfully founded and developed three innovative ventures in Private Equity. Antoine founded Triago in 1992, Europe’s first independent private equity placement agent. In 2007, Antoine founded Mantra, an investment company focused on listed private equity and non-traditional private equity funds. Antoine started his professional career in 1986 in a French advisory firm specialized in distressed situations. In 1988, Antoine founded an M&A boutique which he eventually sold to an American investment bank in 1990. Antoine holds an MBA from the Wharton School of the University of Pennsylvania, and is a member of the Wharton Executive Board for Europe, Middle East, and Africa. Cédric Teissier - Founder & General Counsel Cédric Teissier is responsible for supervising the legal and regulatory aspects of Palico. Cédric has over 10 years of experience as a private equity attorney. Prior to joining Palico, Cédric practiced in Debevoise & Plimpton’s New York and Paris offices where he focused on private equity fund formation in the US, Europe and emerging markets. He also has extensive experience in advising institutional investors and sponsors in primary and secondary transactions, as well as a diverse range of private equity actors in connection with their regulatory matters. Earlier in his career, Cédric started as an attorney in the private equity team at SJ Berwin. Cédric earned a Master in International Business Law and a Master in Business Law, Tax and Accountancy summa from the University of Aix-Marseille III. He also holds an LL.M from Cornell Law School. He is a member of the New York Bar and the Paris Bar. Catherine Barratt - Vice President, Head of EMEA Sales Catherine Barratt heads sales for Europe, the Middle East and Africa. Before joining Palico, Catherine ran EMEA Sales Strategy & Operations for S&P Capital IQ and held a number of management positions within parent company McGraw Hill. Earlier, Catherine founded the custom publishing business for Moscow-based media group Afisha, delivering bespoke publications and online content to domestic and international companies operating in Russia. Catherine has held strategy and business development positions with Morgan Stanley and Condé Nast. She earned an MBA from New York’s Columbia Business School and a Bachelor’s degree in Economics from Durham University in the UK. p.23 Palico Corporate White Paper © Palico 2012
  24. 24. Jeff Davidson - Vice President, Head of Americas SalesJeff heads sales in North and South America. Before joining Palico, he co-foundedand launched AxialMarket, the world’s largest online platform for buying and sellingbusinesses. Earlier, Jeff held a variety of business development and managementpositions at SEI Investments, a global advisory firm for institutional and familywealth managers. Jeff holds a Bachelor of Science degree in Finance, specializing inAccounting.Gilles Laborderie - CTOGilles Laborderie is responsible for the overall architecture and development of Palico’splatform. Before joining Palico, Gilles was director of web and mobile development atTwenga, an eCommerce Search Engine. Prior to that, Gilles was managing director atOCTO Technology, a French IT consulting firm. There Gilles advised many companies– including CALYON, Société Générale Corporate & Investment Banking, PagesJaunesand EURO-VL – on IT strategy as well as Agile product development. Gilles holds anMSc in Engineering from ENSTA (France) as well as from the University of Michigan(USA).Adrian Dultzin-Lacoste - Founder & Vice President, Product ManagementAdrian Dultzin-Lacoste heads product management for Palico, overseeing the design,creation and improvement of all of Palico’s products. Prior to joining Palico, Adrianworked for two years at Triago on multiple fundraising projects and secondarytransactions, as well as managing the overhaul of the company’s CRM and ERP systems.Previous to that, Adrian worked as an analyst at WestLB’s Leverage Finance team inLondon, and as an auditor at Mazars in Paris. Adrian holds an MSc in Managementfrom ESSEC Business School, and studied at the Haas School of Business, UC Berkeley,in the part-time MBA program.Patrick Abouchalache - Principal Americas; Vice President, MemberRelationships in the AmericasIn addition to overall responsibility for Palico’s operations in the Americas, Patrickheads member relationships in the region. Serving in the latter role, Patrick and histeam provide hands-on support and advice to Palico members in their day-to-day useof the platform. Before joining Palico, Patrick founded The PEGA Group, a New Yorkbased consultancy, advising institutional investors, family offices, entrepreneurs, andsenior executives. He previously worked as an investment banker at Salomon SmithBarney in the Global Communications Group and in the European M&A Group. Hebegan his career as an investment analyst at the International Finance Corporation.Patrick earned a B.S. in Economics from The Wharton School, cum laude, and an MBAfrom INSEAD. Patrick is Co-President Americas of the INSEAD Private Equity Network. p.24 Palico Corporate White Paper © Palico 2012
  25. 25. Bruno Lafleur, CA, CFA - Vice President, EMEA Member RelationshipsBruno Lafleur heads Member Relationships for Europe, the Middle East and Asia.Bruno’s team provides hands-on support and advice to Palico members in their day-to-day use of the platform. He brings with him over 16 years experience in privateequity, investment banking, and auditing. Before joining Palico, Bruno was a Directorin UBS’s Private Funds Group in London where he advised general partners andlimited partners on fundraisings and secondary transactions. Bruno qualified as aChartered Accountant with Ernst & Young in Montreal, where he was a Manager inthe Audit group and the M&A Due Diligence group. A Chartered Financial Analyst, heearned an MBA from London Business School and a B. Comm. from McGill University.Arthur de Catheu - Vice President of Business DevelopmentArthur has over eight years of relevant Private Equity experience. Prior to joining Palico,Arthur conducted an 18 months turnaround mission for a SME where he was in chargeof Corporate Finance matters. Before this mission, Arthur was with AXA Private Equityin Paris where he was responsible for sourcing and executing secondary transactions,as well as fund and mezzanine investments in Europe, the US and Asia. Arthur startedhis career by co-founding CD Private Equity, an M&A boutique operating in the privateequity sector where he performed secondary transactions, primary placements, andhelped the Clive-Worms family office set up a direct investment fund. Arthur holds aBA from ESLSCA Paris, a JD in Business Law from the University of Paris, and an MBAfrom Babson College, Massachusetts (USA).Etienne Viellard - Interim Vice President of MarketingEtienne Viellard acts as interim Vice President of Marketing, and is leading globalmarket introduction efforts for the company. Etienne brings 13 years of B2Bbranding, marketing and communications experience to the Palico team. Prior toPalico, Etienne was senior director of marketing at French software vendor Neolane,the European leader in marketing automation software. And previous to this, Etiennewas director of product marketing at financial performance management softwareleader Hyperion (then NSDQ HYSL now part of Oracle). Before that, he was seniordirector of corporate marketing at software giant Oracle (NSDQ ORCL), overseeingglobal corporate marketing for Oracle Fusion Middleware, one of the vendors’ threesoftware product lines. Etienne holds an MSc in Management from ESCP EuropeBusiness School. p.25 Palico Corporate White Paper © Palico 2012
  26. 26. CONCLUSION Many factors are prompting all members of the global private equity fund community to seek potential counterparts beyond their established business circles. These factors include the rise in secondary transactions, growing interest in alternative investment models – such as pledge funds and co-investment programs – and the appeal of specialized sectorial and geographic-specific funds. All market participants struggle to discover and engage qualified potential counterparts. • LPs find it difficult to effectively cover the full market, and discover fundraising, secondary, and co-investment opportunities in line with their investment strategy. • While for GPs it is a challenge to market themselves to qualified LPs beyond their known business circles. • Placement agents and gatekeepers are also looking to extend their reach beyond their established network. Palico overcomes these challenges with the introduction of the first self-service, online marketplace for the global private equity fund community. Palico’s platform allows all of its members to easily – and effectively – discover and engage with qualified potential counterparts on a global scale. EFFICIENT DISCOVERY Palico simplifies the way LPs source opportunities and engage with counterparts the world over. For the first time, a self-service online platform allows LP teams to: • Identify current investment opportunities for fundraisings, secondaries, and co- investments. • Engage with GPs and gain quick online access to their marketing and due diligence material. • Rapidly set-up face-to-face meetings with GPs of interest. • Easily buy and sell secondary fund stakes. • Collaborate with colleagues, in, or away from, the office. EFFECTIVE MARKETING Palico provides GPs with the first integrated online marketing environment designed to facilitate compliant, regulated, and secure outreach to active and qualified investors. The unique self-service online marketing environment: • Allows GPs to leverage existing marketing and communications material to generate sustained streams of qualified leads into their investor pipeline. p.26 Palico Corporate White Paper © Palico 2012
  27. 27. • Lets GPs communicate with qualified investors with an interest in their investment strategy – before, during and after fundraising.• Simplifies the organization of offline meetings with LPs.• Accelerates GPs’ fundraising campaigns.ACCELERATED ADVISOR MANDATESPalico allows placement agents and gatekeepers to extend the reach of their mandatesbeyond their established networks.SECURE, REGULATED, AND NEUTRALPalico is a secure, regulated, and neutral marketplace. A registered broker dealer inthe US and the European Union, Palico helps all members comply with regulationsapplicable to their private equity investment fund activities.Palico is uniting the fragmented private equity fund community.For more information, please visit www.palico.com p.27 Palico Corporate White Paper © Palico 2012
  28. 28. NEW YORK 420 Lexington Avenue, Suite 1425 New York, NY 10170 United States +1 (212) 661-4700 LONDON 42 Brook Street London W1K 5DB United Kingdom +44 (0)20 3178 6261 PARIS 10 rue La Fayette 75009 Paris France +33 (0) 144 839 182 info@palico.com www.palico.com© Palico 2012 All Rights Reserved. Palico is a member of FINRA and SIPC, and is licensed by AMF and ACP. This brochure is forinformational purposes only. Palico makes no warranties, expressed or implied, in this document. Palico is a registered trademark inthe United States and other countries. All other trademarks contained herein are the property of their respective owners.

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