ACG European Capital Tour; views and perspectives on French and US private equity. Pamela Hendrickson COO the Riverside Company, Dominique Gaillard, Board member AXA Private Equity
An introduction to Private Equity, the private equity investment model, private equity strategy, private equity structure, private equity performance and how it is achieved
Executing value creation plans to maximize returnsEY
This slide deck was designed to accompany a video webcast that included an interactive discussion by a moderator and three panelists. To view that webcast, please go to: http://bit.ly/Xj4EIA
Executing value creation plans to maximize returns
Hosted by Ernst & Young LLP Transaction Advisory Services
Publication date: Tuesday, 2 April 2013
Leading private equity firms are maximizing investment returns by developing value creation insights before making a purchase, and executing a value creation plan from the beginning of the holding period through to exit.
Companies that faithfully execute their value creation plans throughout the investment lifecycle can enhance returns and outperform their peer group when they sell.
A panel of Ernst & Young LLP professionals and special guests discussed:
Value creation drivers
Possible steps for maximizing returns at exit
You are welcome to join the on-demand version of this interactive discussion by going to: http://bit.ly/Xj4EIA
This webcast is part an ongoing series. Register for any webcast and you will be asked if you want to receive invitations to future webcasts.
The document discusses raising capital in Australia post-GFC. It notes that while the financial markets were impacted by the GFC, the effects in Australia were relatively mild. Equity capital markets remained active, with over $100 billion raised in 2009. For early stage businesses, sources of capital include angels investors, accelerator programs, venture capital funds, and corporate venture arms. Recent examples are provided of early stage companies raising seed investments. While capital is available, accessing it requires strong deal flow and matching risk profiles.
The document provides an overview of the Integrity with GFD solution, a new wealth accumulation and protection solution for business owners. It addresses main challenges business owners face like not having enough money for retirement or rewarding family. The Integrity solution offers accelerated wealth accumulation, additional life insurance protection, and significant tax advantages. It works by providing an upfront loan that is deposited into a universal life insurance policy to grow tax-deferred. Business owners can then enjoy multiple exit strategies like selling the business, using it for retirement income, or leaving a financial legacy.
Private Equity 101: Anatomy of an Investmentpegccouncil
This document provides an overview of private equity, summarizing that it is a long-term investment approach used to purchase stakes in non-public companies in order to build them into stronger, more competitive businesses through strategic interventions. Private equity benefits investors through high returns, companies through value creation, and the broader economy by fueling innovation and job growth.
Private equity overview presentation delivered to Drexel University students. Presentation highlights overall private equity market, fund structure, economics, and terms, as well as investment process.
The document discusses private equity, including venture capital and leveraged buyouts. It defines private equity and provides examples of different types of investments. The document makes the case that private equity can outperform public markets over the long term while providing diversification. However, private equity also involves higher risk and lower liquidity than public investments. The document suggests that pension funds should consider allocating 5-10% of their equities to private equity and discusses various ways to invest, such as directly, through private equity managers, or funds of funds. It questions whether new investors have missed opportunities in private equity given consolidation in Europe and high valuations in some regions.
introduction to private equity, fundraising and fund statistics, LBO statistics, global and United Kingdom, theory of private equity investment model, objectives of private equity, how private equity boosts corporate performance
An introduction to Private Equity, the private equity investment model, private equity strategy, private equity structure, private equity performance and how it is achieved
Executing value creation plans to maximize returnsEY
This slide deck was designed to accompany a video webcast that included an interactive discussion by a moderator and three panelists. To view that webcast, please go to: http://bit.ly/Xj4EIA
Executing value creation plans to maximize returns
Hosted by Ernst & Young LLP Transaction Advisory Services
Publication date: Tuesday, 2 April 2013
Leading private equity firms are maximizing investment returns by developing value creation insights before making a purchase, and executing a value creation plan from the beginning of the holding period through to exit.
Companies that faithfully execute their value creation plans throughout the investment lifecycle can enhance returns and outperform their peer group when they sell.
A panel of Ernst & Young LLP professionals and special guests discussed:
Value creation drivers
Possible steps for maximizing returns at exit
You are welcome to join the on-demand version of this interactive discussion by going to: http://bit.ly/Xj4EIA
This webcast is part an ongoing series. Register for any webcast and you will be asked if you want to receive invitations to future webcasts.
The document discusses raising capital in Australia post-GFC. It notes that while the financial markets were impacted by the GFC, the effects in Australia were relatively mild. Equity capital markets remained active, with over $100 billion raised in 2009. For early stage businesses, sources of capital include angels investors, accelerator programs, venture capital funds, and corporate venture arms. Recent examples are provided of early stage companies raising seed investments. While capital is available, accessing it requires strong deal flow and matching risk profiles.
The document provides an overview of the Integrity with GFD solution, a new wealth accumulation and protection solution for business owners. It addresses main challenges business owners face like not having enough money for retirement or rewarding family. The Integrity solution offers accelerated wealth accumulation, additional life insurance protection, and significant tax advantages. It works by providing an upfront loan that is deposited into a universal life insurance policy to grow tax-deferred. Business owners can then enjoy multiple exit strategies like selling the business, using it for retirement income, or leaving a financial legacy.
Private Equity 101: Anatomy of an Investmentpegccouncil
This document provides an overview of private equity, summarizing that it is a long-term investment approach used to purchase stakes in non-public companies in order to build them into stronger, more competitive businesses through strategic interventions. Private equity benefits investors through high returns, companies through value creation, and the broader economy by fueling innovation and job growth.
Private equity overview presentation delivered to Drexel University students. Presentation highlights overall private equity market, fund structure, economics, and terms, as well as investment process.
The document discusses private equity, including venture capital and leveraged buyouts. It defines private equity and provides examples of different types of investments. The document makes the case that private equity can outperform public markets over the long term while providing diversification. However, private equity also involves higher risk and lower liquidity than public investments. The document suggests that pension funds should consider allocating 5-10% of their equities to private equity and discusses various ways to invest, such as directly, through private equity managers, or funds of funds. It questions whether new investors have missed opportunities in private equity given consolidation in Europe and high valuations in some regions.
introduction to private equity, fundraising and fund statistics, LBO statistics, global and United Kingdom, theory of private equity investment model, objectives of private equity, how private equity boosts corporate performance
Need to know more about private equity and hedge funds? Then you have come to the right place with this quick overview presentation. This is based on my book: "Figuring Out Wall Street". A part of a continuing series of on the financial services industry. We provide training, custom developed to your needs. Contact us to discuss your needs and get a quote.
Theory: How do you construct a financial model for your social venture?
Practice: What are the main cost drivers and revenue streams for your social venture? What are the various types of financing that social enterprises require, and how does this vary over the lifecycle of the business?
http://www.socialentrepreneurship.ca/indev308
Yield vs. Liquidity in Income Producing InvestmentsDavid Wrubel
This document discusses the balancing act between investing for yield and liquidity in income-producing investments. It notes that traditional fixed income investments like treasuries, corporate bonds, and dividends currently offer very low yields. As an alternative, it proposes net lease real estate funds that invest in properties leased to investment-grade companies. These funds aim to provide higher, predictable yields while taking on bond-like risk due to the quality of the tenants and long-term leases. The document argues this can offer superior risk-adjusted returns compared to more liquid but lower-yielding options.
ENTR4800 Class 5 (Part 2): Financing Considerations for Social EnterprisesSocial Entrepreneurship
The document summarizes key points from a lecture on financing options for social enterprises. It discusses the various types of financing available over the lifecycle of a social enterprise, from grants to equity investments. It also outlines what investors typically care about, including clear explanations of the business case, experience of management and board, financial projections, risk mitigation strategies, and capacity for financial management. The financing landscape and considerations for social enterprises are complex, involving different instruments suited to various stages of growth.
2009 Canada to UK Study Tour: Slide Deck PresentationJoanna Reynolds
In March 2009, a group of Canadian leaders went to the UK to learn about common practices in Social Enterprise and Social Innovation. This Slide Deck is part of the report back.
The document provides an introduction to investments and covers key concepts such as risk and return, asset classes, diversification, and inflation. It explains that higher risk investments like shares and property have historically delivered higher returns than lower risk investments like cash and fixed interest. It emphasizes the importance of diversification across different asset classes and managers to reduce risk.
- Granahan Investment Management offers a Small Cap Focused Growth product that invests in 30-40 small cap companies typically valued between $200 million and $2 billion.
- As of December 31, 2011, the product had $419,000 in assets under management and was open to new investors with a $3,000,000 minimum.
- For the period since inception in August 2007 through December 2011, the product achieved annualized returns of 22.0% net of fees compared to 19.0% for the Russell 2000 Growth Index benchmark.
Presentation slides for the SMSF Tax Planning webinar presented by Aaron Dunn of the SMSF Academy on 24 April 2013.
With the growing number of self-managed super funds, the need to appropriately plan and take advantage of the various contribution, pension, investment strategy and tax issues all lead to the value of discussing some key tax planning strategies with SMSF trustees.
If you wish to view the webinar recording, this can be purchased for $99 (incl. GST). You can visit the SMSF Academy online store to purchase this recording, https://nq129.infusionsoft.com/app/storeFront/showCategoryPage?categoryId=9
Private equity involves long-term investing to strengthen and grow companies. It provides capital for companies in need, creates jobs, and drives economic growth and innovation while delivering steady returns for investors. Private equity managers purchase stakes in private companies and work to increase their value through strategies like leveraged buyouts, venture capital, growth investments, and turnarounds. The private equity industry invests over $1.6 trillion in thousands of companies each year.
Ar welcome - exploring alternative sources of income - 06 08 12alanreid
Forward helps investors meet challenges through innovative strategies and fresh ideas. It explores alternative income strategies including real estate preferreds, real estate and infrastructure, and municipal bonds. Several funds and their managers are mentioned that implement these strategies.
June 2011 newsletter of Steve Stanganelli, CFP(R) Professional and principal of Clear View Wealth Advisors, a fee only financial planning firm serving individuals in Massachusetts. In this issue, Steve discusses how to manage retirement income distributions, the role of dividend paying stocks in a balanced portfolio, college planning tools for late starters and tax tips for those who are getting divorced.
The IDC is a South African state-owned development finance institution established in 1940 to promote industrial development. It provides various financial instruments including equity, debt, guarantees, and credit lines to support entrepreneurs and competitive industries. The IDC aims to maximize developmental and financial returns within an acceptable risk profile by contributing to balanced economic growth, empowerment, and job creation in South Africa and other African countries. It currently supports a variety of industries and is involved in early-stage project development across the continent.
The Retail Distribution Review (RDR) comes into effect on 31 December 2012 and will lead to significant changes in the financial advice industry. Key aims are to offer consumers fair and transparent fees, clarity on services received, and advice from highly qualified professionals. All advisers must be qualified to a higher minimum level and undergo continual professional development. The changes are intended to boost consumer confidence and professionalism in financial advice.
Davies Capital Management is raising $1 million through a private placement offering to form an investment syndicate for stock option trading. The managing member, Scott Davies, has successfully traded stock options for years. The company intends to use the funds for option trades, research emerging companies, and provide education on options trading. Projections estimate the company could be profitable within a year and valued over $9 million in 3 years.
Guardian has demonstrated the capacity to sustain its financial stability through turbulent times by paying dividends to policyholders every year since 1865. Guardian's strong investment returns and management of expenses allowed it to declare a dividend of 7% for 2010, the second highest in its history. Guardian aims to provide sustained long-term value for clients through prudent investment strategies and a focus on the interests of its policyholders as a mutual company.
[ARCHIVE] Sustainable economy in 2040: A roadmap for capital markets, executi...Aviva plc
This report shows investors how they can help create a resilient, stable and sustainable economy by investing wisely and using their power to shape the development of capital markets.
El documento describe un proyecto educativo sobre animales y sitios turísticos de Girardot, Colombia. Los estudiantes aprendieron sobre la plaza de mercado de Girardot a través de una presentación y lectura. Luego participaron en un concurso sobre las características de los animales. La actividad fue bien recibida pero se deben mejorar la organización y logística para evitar la desmotivación de los estudiantes.
Need to know more about private equity and hedge funds? Then you have come to the right place with this quick overview presentation. This is based on my book: "Figuring Out Wall Street". A part of a continuing series of on the financial services industry. We provide training, custom developed to your needs. Contact us to discuss your needs and get a quote.
Theory: How do you construct a financial model for your social venture?
Practice: What are the main cost drivers and revenue streams for your social venture? What are the various types of financing that social enterprises require, and how does this vary over the lifecycle of the business?
http://www.socialentrepreneurship.ca/indev308
Yield vs. Liquidity in Income Producing InvestmentsDavid Wrubel
This document discusses the balancing act between investing for yield and liquidity in income-producing investments. It notes that traditional fixed income investments like treasuries, corporate bonds, and dividends currently offer very low yields. As an alternative, it proposes net lease real estate funds that invest in properties leased to investment-grade companies. These funds aim to provide higher, predictable yields while taking on bond-like risk due to the quality of the tenants and long-term leases. The document argues this can offer superior risk-adjusted returns compared to more liquid but lower-yielding options.
ENTR4800 Class 5 (Part 2): Financing Considerations for Social EnterprisesSocial Entrepreneurship
The document summarizes key points from a lecture on financing options for social enterprises. It discusses the various types of financing available over the lifecycle of a social enterprise, from grants to equity investments. It also outlines what investors typically care about, including clear explanations of the business case, experience of management and board, financial projections, risk mitigation strategies, and capacity for financial management. The financing landscape and considerations for social enterprises are complex, involving different instruments suited to various stages of growth.
2009 Canada to UK Study Tour: Slide Deck PresentationJoanna Reynolds
In March 2009, a group of Canadian leaders went to the UK to learn about common practices in Social Enterprise and Social Innovation. This Slide Deck is part of the report back.
The document provides an introduction to investments and covers key concepts such as risk and return, asset classes, diversification, and inflation. It explains that higher risk investments like shares and property have historically delivered higher returns than lower risk investments like cash and fixed interest. It emphasizes the importance of diversification across different asset classes and managers to reduce risk.
- Granahan Investment Management offers a Small Cap Focused Growth product that invests in 30-40 small cap companies typically valued between $200 million and $2 billion.
- As of December 31, 2011, the product had $419,000 in assets under management and was open to new investors with a $3,000,000 minimum.
- For the period since inception in August 2007 through December 2011, the product achieved annualized returns of 22.0% net of fees compared to 19.0% for the Russell 2000 Growth Index benchmark.
Presentation slides for the SMSF Tax Planning webinar presented by Aaron Dunn of the SMSF Academy on 24 April 2013.
With the growing number of self-managed super funds, the need to appropriately plan and take advantage of the various contribution, pension, investment strategy and tax issues all lead to the value of discussing some key tax planning strategies with SMSF trustees.
If you wish to view the webinar recording, this can be purchased for $99 (incl. GST). You can visit the SMSF Academy online store to purchase this recording, https://nq129.infusionsoft.com/app/storeFront/showCategoryPage?categoryId=9
Private equity involves long-term investing to strengthen and grow companies. It provides capital for companies in need, creates jobs, and drives economic growth and innovation while delivering steady returns for investors. Private equity managers purchase stakes in private companies and work to increase their value through strategies like leveraged buyouts, venture capital, growth investments, and turnarounds. The private equity industry invests over $1.6 trillion in thousands of companies each year.
Ar welcome - exploring alternative sources of income - 06 08 12alanreid
Forward helps investors meet challenges through innovative strategies and fresh ideas. It explores alternative income strategies including real estate preferreds, real estate and infrastructure, and municipal bonds. Several funds and their managers are mentioned that implement these strategies.
June 2011 newsletter of Steve Stanganelli, CFP(R) Professional and principal of Clear View Wealth Advisors, a fee only financial planning firm serving individuals in Massachusetts. In this issue, Steve discusses how to manage retirement income distributions, the role of dividend paying stocks in a balanced portfolio, college planning tools for late starters and tax tips for those who are getting divorced.
The IDC is a South African state-owned development finance institution established in 1940 to promote industrial development. It provides various financial instruments including equity, debt, guarantees, and credit lines to support entrepreneurs and competitive industries. The IDC aims to maximize developmental and financial returns within an acceptable risk profile by contributing to balanced economic growth, empowerment, and job creation in South Africa and other African countries. It currently supports a variety of industries and is involved in early-stage project development across the continent.
The Retail Distribution Review (RDR) comes into effect on 31 December 2012 and will lead to significant changes in the financial advice industry. Key aims are to offer consumers fair and transparent fees, clarity on services received, and advice from highly qualified professionals. All advisers must be qualified to a higher minimum level and undergo continual professional development. The changes are intended to boost consumer confidence and professionalism in financial advice.
Davies Capital Management is raising $1 million through a private placement offering to form an investment syndicate for stock option trading. The managing member, Scott Davies, has successfully traded stock options for years. The company intends to use the funds for option trades, research emerging companies, and provide education on options trading. Projections estimate the company could be profitable within a year and valued over $9 million in 3 years.
Guardian has demonstrated the capacity to sustain its financial stability through turbulent times by paying dividends to policyholders every year since 1865. Guardian's strong investment returns and management of expenses allowed it to declare a dividend of 7% for 2010, the second highest in its history. Guardian aims to provide sustained long-term value for clients through prudent investment strategies and a focus on the interests of its policyholders as a mutual company.
[ARCHIVE] Sustainable economy in 2040: A roadmap for capital markets, executi...Aviva plc
This report shows investors how they can help create a resilient, stable and sustainable economy by investing wisely and using their power to shape the development of capital markets.
El documento describe un proyecto educativo sobre animales y sitios turísticos de Girardot, Colombia. Los estudiantes aprendieron sobre la plaza de mercado de Girardot a través de una presentación y lectura. Luego participaron en un concurso sobre las características de los animales. La actividad fue bien recibida pero se deben mejorar la organización y logística para evitar la desmotivación de los estudiantes.
The document contains the class schedule for the second semester of the 2012/2013 academic year at the Faculty of Veterinary Medicine, Udayana University. It lists the courses, professors, rooms, and times for classes on Mondays through Fridays from 8am to 4pm for classes A and B, which meet in the morning and afternoon respectively. Practicum classes are held from 1-3pm. The schedule also notes that all classes are held on the Sudirman campus.
Poverty is a major challenge in India, with over 260 million people or 26% of the population considered poor according to the national poverty line. Poverty is determined by many interrelated factors such as illiteracy, lack of access to healthcare, clean water, sanitation, and stable employment opportunities. Some states in India have much higher rates of poverty than others. Poverty has profound social and economic costs, including high rates of mortality, especially among women and children. The government of India has implemented various anti-poverty programs to help alleviate poverty in the country.
Dirk Kettlewell is a 45-year-old man who lives in London, England. He has worked as an accountant for over 20 years at the same firm. In his free time, Dirk enjoys gardening, playing golf, and spending time with his wife and two children.
El ingeniero biomédico aplica sus conocimientos en ingeniería para resolver problemas en el área de la salud, encargándose del desarrollo, implementación y gestión de recursos médicos. Esta disciplina fusiona principios de ingeniería, medicina, física, química, biología y matemáticas para crear soluciones a problemas médicos y biológicos, enfocándose en la construcción de productos sanitarios y tecnologías como equipos médicos y prótesis.
Dokumen standard prestasi dunia muzik tahun 2eikhwa
Dokumen ini berisi panduan standar prestasi untuk mata pelajaran Dunia Muzik Tahun 2. Ia menjelaskan tujuan kurikulum Dunia Muzik untuk membangunkan potensi murid melalui aktiviti muzikal serta menanamkan nilai-nilai murni. Dokumen ini juga menyediakan kerangka band prestasi, tafsiran band, deskriptor dan contoh bukti pencapaian untuk menilai tahap pembelajaran murid dalam elemen muzik dan aktiv
Dokumen standard prestasi dunia muzik tahun 2eikhwa
Dokumen ini memberikan panduan tentang Standard Prestasi mata pelajaran Dunia Muzik Tahun 2. Ia menjelaskan objektif kurikulum, tafsiran istilah-istilah yang digunakan, kerangka standard prestasi, tafsiran band, deskriptor dan contoh-contoh bukti pencapaian murid. Dokumen ini bertujuan membantu guru menilai pencapaian pembelajaran murid secara sistematik dan konsisten mengikut standard kurikulum.
ACG European Capital Tour: Spotlight on risk protection trends in private M&AACGEU
ACG European Capital Tour - Paris.
Spotlight on risk protection trends in private M&A.
Heloise Husson, Unit Leader M&A, Chartis
Jay Rittberg, VP M&A, Chartis
Jean-Patrice Labautiere, Partner, Allen & Overy
Charles (Chuck) Morton, Chairman ACG talks about the networking organisation dedicated to middle market growth at the ACG European Capital Tour in Paris, Amsterdam and Frankfurt
The document congratulates Dirk S. Kettlewell for being named the 2004 MVP. It also states that they proudly support the Boomer Esiason Foundation. The document contains no other information.
ACG European Capital Tour: Investing pitfalls / lessons learned and big succe...ACGEU
The document summarizes a presentation by Alvarez & Marsal on opportunities in the European market. It discusses 1) the current state of the European sovereign debt crisis and its impact on private equity and distressed markets, 2) middle market opportunities including financial institutions selling non-performing assets and distressed debt investing, and 3) potential pitfalls for private equity investors to avoid. The presentation also reviews M&A trends and outlook by country and sector. Key takeaways are the availability of portfolio and corporate carve-out deals, and the need for private equity investors to thoroughly understand business fundamentals and have contingencies planned.
Este documento compara la educación virtual y la educación presencial. Explica que la educación virtual usa las TIC para que los estudiantes se comuniquen con los tutores sin necesidad de estar en el mismo lugar, mientras que la educación presencial implica clases en persona. Ambas modalidades buscan lograr la adquisición de conocimientos en los estudiantes, aunque una lo haga de forma virtual y la otra de forma presencial.
ACG European Capital Tour: Economic outlook for the euro ACGEU
The economic outlook for the Euro Area shows another quarter of small contraction as indicators point to continued uncertainty and fiscal tightening dragging on growth, though a weaker euro should help exports. Corporate investment never rebounded after the crisis and changing inventories are already very negative, so next year's outlook depends on correcting budget and current account imbalances across countries despite the ECB's proactive measures which have not equalized financial conditions.
Cushing's syndrome is caused by prolonged exposure to high levels of glucocorticoids and can be due to exogenous glucocorticoid intake or endogenous overproduction. The endogenous causes are divided into ACTH-dependent or ACTH-independent. Treatment depends on the cause but may include medications like metyrapone or ketoconazole to reduce cortisol levels, trans-sphenoidal removal of pituitary tumors, pituitary irradiation for Cushing's disease, or bilateral adrenalectomy as a last resort if other measures fail to control the disease.
- 2008 was a difficult year for Ameriprise Financial due to turmoil in the equity and credit markets that impacted client assets and fee revenue. The company reported a net loss of $38 million compared to a net income of $814 million in 2007.
- Despite the challenges, Ameriprise Financial maintained a solid balance sheet with $6.2 billion in cash and cash equivalents and $700 million in excess capital. The company continued supporting its advisors and clients through market volatility.
- In response to a money market fund breaking the dollar, Ameriprise Financial advanced affected clients $400 million to meet immediate cash needs and committed to mitigate losses in the impaired fund, demonstrating its dedication to clients.
- Net revenues for Ameriprise Financial declined to $6.97 billion in 2008 from $8.56 billion in 2007 due to lower fee revenue from declining client assets and reduced client activity in the weak market. The company reported a net loss of $38 million for 2008 compared to net income of $814 million in 2007.
- Despite the difficult market conditions, Ameriprise Financial's business remains sound due to its conservative risk management approach and strong balance sheet fundamentals including $34 billion in diversified assets, $6 billion in cash, and $0.7 billion in excess capital.
- The company continues to execute on its strategy focused on financial planning, serving clients through its network of over 12,000
- Net revenues for Ameriprise Financial declined to $6.97 billion in 2008 from $8.56 billion in 2007 due to declining markets and reduced client activity. The company reported a net loss of $38 million for 2008 compared to net income of $814 million in 2007.
- Despite the difficult market conditions, Ameriprise Financial's business remains sound due to its conservative risk management approach and strong balance sheet fundamentals including $34 billion in diversified assets, $6 billion in cash, and $700 million in excess capital.
- The company continues to execute its strategy focused on financial planning, serving clients through over 12,000 advisors, and growing while protecting assets over the long term.
- Net revenues for Ameriprise Financial declined to $6.97 billion in 2008 from $8.56 billion in 2007 due to declining markets and reduced client activity. The company reported a net loss of $38 million for 2008 compared to net income of $814 million in 2007.
- Despite significant market challenges, Ameriprise Financial's business remains strong due to its client-focused financial planning model, diversified business lines, and solid balance sheet fundamentals including $34 billion in diversified assets and $6 billion in cash.
- The company continues executing its long-term strategy and pursuing growth opportunities, while also reducing costs, with the goal of emerging from the economic downturn well-positioned for the
- Granahan Investment Management offers a Small Cap Focused Growth product that invests in 30-40 small cap companies typically between $200 million and $2 billion in market capitalization.
- For the period ending December 31, 2012, the product reported annualized returns of 23.36% net of fees compared to the Russell 2000 Growth Index return of 14.59% over a 1-year period.
- The portfolio manager, Andrew Beja, utilizes fundamental bottom-up research focused on technology, internet, consumer, and business services companies to construct a portfolio seeking capital appreciation.
- Granahan Investment Management offers a Small Cap Focused Growth product that invests in 30-40 small cap companies typically valued between $200 million to $2 billion.
- As of March 31, 2012 the product had $485,000 in assets under management and was open to new investors with a $3 million minimum.
- For the period since inception in August 2007, the product has outperformed its benchmark, the Russell 2000 Growth index, with annualized returns of 16.0% versus 10.4% for the index.
This investor presentation describes two investment funds, the Small Business Fund of America and the SM Equity Fund, that provide financing to small businesses. The Small Business Fund makes secured loans to established small businesses, while the SM Equity Fund takes equity stakes in early-stage companies. The presentation provides details on the types of businesses each fund invests in, expected returns, risks, and fees. It also introduces the fund managers and describes the company's referral network and process for originating small business investments.
Broadlake Capital is a private equity firm that was established in 2009. It focuses on majority shareholdings and equity investments up to €20M in growing companies, particularly in support services, business services, specialty manufacturing, consumer goods, and financial services. The firm prides itself on having extensive operational expertise, a hands-on approach to supporting management teams, and experience successfully implementing growth strategies.
Granite Equity Partners is a private equity firm that invests $1-5 million in growing companies located within driving distance of its offices. It focuses on companies with $10-100 million in revenue, $1-8 million in EBITDA, and a strong management team. Granite Equity's Fund II has committed capital to seven companies across various industries. It aims to build a diversified portfolio of 10-12 companies. With over 1,500 companies in the region and 40% facing leadership succession in the next 5 years, Granite Equity sees opportunities to complete its portfolio. The firm is led by experienced general partners and advised by a board with hundreds of years of business experience.
- Waddell & Reed Financial Inc. is a publicly traded investment management company with $1.5 billion in market capitalization and 84.7 million shares outstanding.
- They provide investment management services through distinct distribution channels serving retail, wholesale, and institutional clients. They have a dedicated network of over 2,000 financial advisors and a comprehensive family of mutual funds.
- As of Q1 2009, they have $47.6 billion in total assets under management, with 83% in equity funds and 13% in fixed income funds.
Why Own Safeguard?
- Full Value Yet to be Realized
- Ownership Stakes in Exciting Partner Companies
- Top Performance of Proven Team
- Financial Strength, Flexibility and Liquidity
- Strong Alignment of Interests
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
The document discusses strategies for raising capital and securing financing. It outlines an agenda for a panel discussion on the topic, including presentations on debt financing from Wellington Financial and government programs from Ontario Capital Growth Corporation. It also discusses equity financing from Management Initiatives. The panelists will be Mark Usher, John Marshall, and Andrew Wilkes.
Greenfield Seitz Capital Management is a registered investment advisor located in Dallas, Texas that manages over $205 million in assets. The presentation provides an overview of the firm's investment strategy, process, performance and team. The firm aims to outperform the S&P 500 index over the long term through a fundamental, bottom-up stock selection process focused on quality companies trading at reasonable valuations. The strategy has achieved strong risk-adjusted returns and top quartile performance versus peers over multiple time periods.
Why Own Safeguard?
- Full Value Yet to be Realized
- Ownership Stakes in Exciting Partner Companies
- Top Performance of Proven Team
- Financial Strength, Flexibility and Liquidity
- Strong Alignment of Interests
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
Why Own Safeguard?
- Full Value Yet to be Realized
- Ownership Stakes in Exciting Partner Companies
- Top Performance of Proven Team
- Financial Strength, Flexibility and Liquidity
- Strong Alignment of Interests
Forward-Looking Statements
Statements contained in this presentation that are not historical facts are forward looking statements which involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of managing rapidly changing technologies, limited access to capital, competition, the ability to attract and retain qualified employees, our ability to execute our strategy, the uncertainty of the future performance of our partner companies, acquisitions and dispositions of additional partner companies, the inability to manage growth, government regulation and legal liabilities and the effect of economic conditions in the business sectors in which our partner companies operate, negative media coverage and other uncertainties as described in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.
Safeguard does not assume any obligation to update any forward looking statements or other information contained in this presentation.
This investor presentation discusses Safeguard Scientifics' strategy and portfolio of partner companies. It notes that Safeguard has significant cash reserves, owns stakes in 16 growing companies, and has realized $632 million in exits since 2006. However, the full value of Safeguard's holdings has yet to be realized. The presentation outlines Safeguard's goals to continue building value in current companies, make additional valuable exits, replenish holdings, and expand its platform.
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ACG European Capital Tour Pamela Hendrickson and Dominique Gaillard
1. Views and perspectives on French
and US Private Equity
Pamela Hendrickson COO of the Riverside Company,
Vice Chair of ACG
Dominique Gaillard member of the executive board
AXA Private Equity
member of the board of the AFIC
2. Riverside: At A Glance
24 years focused on small company 200+ people organized by function
control buyouts
295 acquisitions (152 platforms, 143
$3.2 billion in assets under management add-ons)
20 offices in 14 countries on 78 exits (78 platforms and their
4 continents corresponding 90 add-ons)
Note: Acquisition and realization data is as of August 31, 2012. Valuation data is as of June 30, 2012. Past performance is not necessarily indicative of future results.
See Important Information slide at the end of the Appendix.
3. Investment Criteria
Size:
Target companies with less than $25 million in LTM EBITDA
Growth:
Healthy companies that are in rapidly growing markets or have the potential to take
significant market share
Specialness:
Leaders or potential leaders in their niches with sustainable competitive advantages
that provide clear opportunities for high margins and rapid growth
Management:
Strong leadership capable of working with Riverside to design and execute a
compelling growth strategy
Note: As of August 31, 2012. Number of investments reflects both platforms and add-ons.
4. Sector Specialization
In our 24-year history, Riverside has acquired 290+ investments across dozens of
industries. Our industry specialties include:
Healthcare 67 investments
Education and Training 32 investments
IT with Recurring Revenue 20 investments
Franchise Model 6 investments
We avoid companies with low margins, heavy capital expenditures, fashion risk and in “sin”
industries
Note: As of August 31, 2012. Number of investments reflects both platforms and add-ons.
5. Private Capital Matters
Private capital-backed companies had more annual relative job growth every year
except one compared to the general U.S. economy
Private Capital-Backed
Companies
General U.S. Economy
Total New Total New PC
Growtheconomy.org
6. Private Capital Is Invested Everywhere
Private capital-backed companies are widely dispersed through the U.S. 1995-2009
Growtheconomy.org
7. U.S. Tax Proposals
Simpson Bowles Paul Ryan Rivlin Domenici
Personal Fed Tax • 3 brackets • 2 brackets • 2 brackets
• 8, 14, 23% • 10% < $100,000 • 15 and 27
OR • 25% above
• 12,22,28%
Corporate Tax 26% Flat territorial • Eliminate all 27% Flat rate
corporate tax
• Expense all
investments
immediately
All other • Eliminate capital • 8.5% VAT • 6.5% VAT
gains, dividends etc. • Eliminate capital • Eliminate capital
gains, dividends etc. gains, dividends etc.
7
8.
9. AXA Private Equity activities
Global reach across the asset class
Funds of Funds Direct Funds Managing and/or advising more than $28bn*
Secondaries Mid Cap Top quartile returns since inception
Early Secondaries Small Cap Strong local franchises with 270 professionals based
Primaries Innovation & Growth in 10 offices
Mandates Co-Investment
$17bn $6bn Long term Private Equity philosophy
Reliable support to entrepreneurs for sustainable
$2.5bn $2.5bn growth and value creation
Commitment to stringent corporate governance
Proprietary access to top corporate managers and
Arranger & GPs thanks to a deep institutional and business
Underwriting Brownfield
network
Acquisition financing Greenfield
Private Debt Infrastructure
Commitment to investor transparency
Frequent and personalized reporting
Close and trustworthy investor relationships
*As of June 2012; Exchange rate €1 = $1.25765
10. AXA Private Equity client base
Type of investors* Location*
Banks Funds of Funds
2% 2% Asia - Oceania
Foundation/
& Middle East
Endowment
6% 15%
HNWI
7%
Government
Agencies Europe
12% 48%
Pension Funds
49%
North America
Insurance
Companies 22%
37%
Source: AXA Private Equity as of June 30, 2012. Information provided for illustrative purposes only without any binding contractual force.
* AUM Breakdown excluding AXA money.
11. AXA Private Equity history
(AuM in US$bn) Launch of Office in Beijing
CEE fund
Launch of Infrastructure,
Co-investment, Mezzanine
Launch fifth generation
Office in Office in of Secondary Fund and
Zurich Vienna third generation of
Office in Office Infrastructure Fund
Singapore in Milan
Renewal of the 28.0 28.0 **
Launch of Early partnership with CDPQ
26.0
Launch of Secondary 25.0* 25.0*
Secondary activity Launch of
23.0
Small Cap LBO
Launch of the first
Venture fund Office in
Creation by Frankfurt
Dominique
Senequier &
Offices in
AXA Group
London and
14.0
New York
First mandate
for AXA France,
Creation of the
Buyout activity
8.0
with CDPQ
6.0
4.5
3.1
2.6
1.9
0.8
0.1 0.2 0.2
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Over the past decade, AXA PE has established an unquestionable leading position in PE
* Decrease due to €/$ rate fluctuations.
** As of June 2012.