Post on 06-Jul-2018
For your Investments in
Private Equity & Private Debt
Private
Equity
Private
Debt
BB Alternative Partners is an investment advisor for your Private Equity and Private Debt Investments.
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Strategy
Mezzanine Senior DebtVenture Growth Buy-out Distressed
Our services cover a rangefrom Venture to Senior Debt
Your private market assets can be
aligned to an effective strategy
extracting the real return potential
from the accepted risk.
Manager- and Fund-Selection
We deploy our extensive network and
our selection tools to identify the best
in class managers for your portfolio.
Investment-Process
Portfolio Management
The time consuming investment
process in private market assets will
be covered by our specialists
securing best terms and lowest fees.
To track performance and to secure
your rights we keep up transparency
and motivate managers to give their
best.
Investment target are always a closed end-fund in a GP-LP structure or co-investments
BB Alternative Partners has a team with institutional investor experience
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Experienced Team
Independence
Global Network
Proven Process and Tools
Experienced Partners
Close Cooperation
Alexander Bode and Sabine Bartsch – we managed the Private Market Portfolio of Gothaer Group for seven years;
We are independent of managers as we are not a Fund Manager or Investors ourselves;
Over the last seven years we have built an extensivenetwork in the global manager universe;
The strategic allocation and efficient selection of managers is optimised up to a high level of detail;
We have attracted experts with long standingexperience for our non-exec board;
Our close cooperation with optegra enables us to also offer tax and legal structuring as well as fund administration services;
We enhance the return potential of your Private Market investment decisions
…of Private Markets – which are inefficient, cluttered
and increasingly regulated;
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Dissolution of Complexity…
Enhancing PerformancePotential…
Cost-efficient Selection Process…
Avoidance of Fees…
One-Stop-Shop forPE Investments…
Amortisation of Expenses through…
…through an optimised manager or target selection
preparing for a profound investment decision;
…through a structured investment preparation, well proven processes and reliable analytical tools;
…by fewer investments into fund-of-funds and professional negotiation of fees;
…as we coordinate all different functions and tasks throughout the complete investment process for you;
…higher performance of just about 0.1 % additional
IRR (with a minimum commitment off 5 USDm);
We can provide separate, stand alone services or offer comprehensive projects, such as:
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Overview of the relevant managers and fund products for your specific targeted investment
Comparison of funds on the basis of criteria agreed with you in advance
Extensive Due Diligence of Funds and/or
Managers (in 3 different levels of detail)
Support in Negotiation of LPA and Side Letters
(Fees, Hurdle, reporting requirements, etc.)
Comprehensive Investment Management from
Screening to Closing
Market-Map
Fund Rating
Due Diligence
LPA / Side Letter
Management of theInvestment process
Sco
pe
of
Wo
rk
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Research proves that thorough Due Diligence is a key factor for successfully investing in Private Markets.
• A 2012 preqin analysis confirms that particularly those asset managers with
strong due diligence processes and tools in place show sustainable and
outstanding performance.
• The Median-IRR of those US pension funds known for their exceptionally
elaborate due diligence procedures outperform the median-IRR of Fund of
Funds by 6%.
• US university endowments are the spearhead in Private Equity investing and
thus invest up to 35% of their portfolio at an net IRR of >12 %.
• Showing a median-net IRR of 6,8% Fund of Funds do not generate satisfactory
and risk-adequate returns on capital employed.
Our analyzing tools are filed andhave proofed to be well focused.
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Due Diligence is the final stage of an iterative process that has let through only the best.
BB Alternative Partners As of 31.12.2011
Investment Track Record - Unrealized Value (According to GP's Reportings)
EUR
# Fund Name Vintage # of Inv.
Total
% of Inv.
Unrealized
Capital
Unrealized
NAV
Unrealized
Mult. of Cost
Unrealized
1 Fund I 2009 6 18% 21.880 99.880 4,6
2 Fund II 2013 3 81% 27.050 69.050 2,6
3 Fund III 0 0% - - -
4 Fund IV 0 0% - - -
5 Fund V 0 0% - - -
6 Fund VI 0 0% - - -
Total/Average 9 39% 48.930 168.930 4,2
* Investment Weighted Average
BB Alternative Partners As of 31.12.2011
Investment Track Record - Unrealized Value (BBAP's assessment)
EUR
# Fund Name Vintage # of Inv.
Total
% of Inv.
Unrealized
Capital
Unrealized
NAV
Unrealized
Mult. of Cost
Unrealized
1 Fund I 2009 6 18% 21.880 - -
2 Fund II 2013 3 81% 27.050 - -
3 Fund III 0 0 0% - - -
4 Fund IV 0 0 0% - - -
5 Fund V 0 0 0% - - -
Due Diligence Checklist
Data Analysing Tool
Due Diligence Report
Overview of our services offered along the overall investment process.
9* In cooperation with our experienced partner optegra
Fund Due Diligence
� Fund Due Diligence
� Manager Due Diligence
Fund Selection
� Fund Ratings
� Market review – manager landscapes
� Providing optimal legal structure*
Portfolio Management
� Controlling (Reporting, Fees, …)
Strategy Development
� Analysing diversification potential
� Deducing an optimal allocation
� Developing target risk/return profileClosing Management
� Negotiations with GPs regarding Fees
� Managing service providers involved
� Monitoring (Reg. contact, meeting attendance, execution of mandates, …)
Portfolio-Review
� Recommendation for reallocations
� Identification of diversification benefits
� Outlining portfolio‘s risk/return-potential
� Bookkeeping of Cash-flows und NAVs*
� Tax & Legal Due Diligence*
� Cash-flow-Forecasts and documentation
� Beauty Contests
� Signing Procedures
� Negotiating Co-Investments
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For reference checks on our work please feel freeto contact the following persons:
� Dr. Gerd Weidenfeld Gothaer Asset Management AG
Head of Capital Markets Tel: 0049 221 308 -34425
� Siegmar Thakur-Weigold Warburg
Partner Tel: 0041 44 205 9444
� Alan Weinfeld Goldpoint Capital Partners
Business Development Tel: 001 / 212 - 576 7699
� James Stuart-Smith Reliance Mutual Insurance (UCM)
CIO Tel: 001 / 212 - 576 7699
� Patrick Carsten Suchy HSBC Trinkaus & Burkhardt AG
Director Alternative Investments Tel: 0049 211 910 -4615
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Alexander Bode, CAIAAlexander Bode worked with A.T. Kearney in Düsseldorf for two yearsfocusing on restructuring projects and the development of marketstrategies for construction and adjacent industries.
Following this, Alexander managed corporate restructurings includingtaking over interim management functions and leading M&A transactionswith CMS in Berlin.
Your investment partners at BB Alternatives
At J.W. Ostendorf, a producer of paint and varnishes, he headed the Corporate Development teamand executed Europe-wide acquisition processes, following integration projects includingdedicated PMI-programmes, introduction of SAP as well as taking of management functions.
Beginning of 2007 Alexander, together with Sabine Fischer, took over the management of the
Private Equity portfolio of the Gothaer Group and managed direct investments as well as PrivateEquity fund investments. Besides the execution of numerous exits they furthermore developed an
overall strategy for the portfolio, a comprehensive reporting system as well as a detailed conceptand process for the fund and manager selection which was then implemented and is still followed
as a standard procedure. Alexander carefully selected new investments and helped adjust theportfolio to the specific risk-return profiles of the individual insurance companies within Gothaer
Group.
Alexander holds a masters degree in economics and engineering from the Technical University ofBerlin and is a Chartered Alternative Investment Analyst (CAIA) charterholder.
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Sabine Fischer, CFA
Sabine Fischer started her professional career as part of the Corporate
Development and Planning team of Rheinmetall AG in Düsseldorf.
In 2000 she transferred as Manager to the Transaction Advisory team of
Ernst & Young in Düsseldorf and focused on financial and commercial due
diligence projects for numerous clients in a broad range of industries.
In 2004 she moved to London for two years and worked for the M&A ECU
team of Ernst & Young and was in charge of various buy-side and sell-side
mandates.
Beginning of 2007 Sabine, together with Alexander Bode, took over the management of the Private
Equity portfolio of the Gothaer Group and managed direct investments as well as Private Equity
fund investments. Besides the execution of numerous exits they furthermore developed an overall
strategy for the portfolio, a comprehensive reporting system as well as a detailed concept and process
for the fund and manager selection which was then implemented and is still followed as a standard
procedure. Carefully selected new investments and helped adjust the portfolio to the specific risk-
return profiles of the individual insurance companies within Gothaer Group.
Sabine holds a masters degree in economics and business administration from the Heinrich-Heine-
University of Düsseldorf and is a Chartered Financial Analyst (CFA) charterholder.
Your investment partners at BB Alternatives
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In cooperation with…
optegra Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft
• optegra:hhkl is a mid market Advisory Group active globally with more than 100 professionals at the two Company sites in Cologne and Munich.
• Being a full-service-provider for closed-end funds, structured financings andspecialised investment vehicles, the Company supports Private Equity funds andinvestors in company transactions, tax structurings as well as fund administration.
• Active in the Private Equity space for more than 10 years, optegra:hhkl todaymanages more than 50 Private Equity Accounts including over 250 Investee fundsand a total commitment of about 1.9 bn Euro .
• Cross-border projects are executed through the Company’s global network in Europe, USA, Japan, India as well as a subsidiary in Luxembourg.
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Supported by experienced partners
(Non-Exec Board)
William McCoy has a longstanding experience within the global
Private Equity universe, in a direct investing function as well as aninitiator of fund of fund programs.He has participated in the
formation and development of numerous investment managemententities. William started his professional career at Rosecliff Inc., a U.S.-
Mid Market LBO investment manager. Following this he co-foundedPalladin Capital Group, LLC, a company also active in the direct
investment space of the U.S.-Mid Market.
In the coming years he became Co-Head and Managing Director of Partners Group, CEO of
Capital Dynamics in New York and Managing Director of Dresdner Kleinworth Wasserstein inLondon.After his long standing activity in global fund management and investment
companies William co-founded First Avenue Partners, LLP (UK), an alternative investmentbank that specialized in both agency and principal activities in the Private Equity market,
together with three other partners. Most recently, William founded One Rock Partners, LLP ,aUS based investment firm that focuses in strategic and capital investment advisory, as well as
direct investment opportunities. Thereby leveraging his extensive experience andextraordinary world-wide network for the benefit of managers and investors alike.In addition
to his activities, William acts as an active board member for numerous mid market companiesand charitable organizations and foundations. Furthermore, he has been a lecturer at the New
York City University as well as at Fontainebleau.
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Dr. Jochen Fabritius
Dr. Fabritius has been appointed COO of XELLA Group,Duisburg in 2014. Before that he was working for McKinsey &
Company Inc. since 1999 and was a Partner in the Frankfurtoffice. Leading the European Manufacturing Practice, he
concentrates on projects with a strong operational focus inconsumer-oriented and the basic-materials industries.
Supported by experienced partners(Non-Exec Board)
Since 2004 he has built McKinsey‘s Asia House in Frankfurt, acting as an Asian bridgehead in
Europe, and has led the Asia House as Office manager until 2009. Dr. Fabritius holds a masterdegree in Economics and Engineering and has obtained his PhD at the Technical University of
Berlin
• Evaluation of M&A opportunities and market
entry-strategies for cement, aggregates and ready-mix
• Optimization of the procurement processes of an international retailer
• Development and execution of an efficiency
improvement program of a service company in the textile industry
• Efficiency improvement projects in the
production, supply chain and distribution of an international producer of construction materials
• Restructuring program for a European utility
• Supply chain optimization for a global construction chemicals producer
Some recent projects include:
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We are looking forward to support you!
Sabine Fischer, CFA
Alexander Bode, CAIA
BB Alternatives GmbHUniversitätsstraße 7150931 KölnFon +49 (0)221 800 508 915Mobil +49 (0)178 645 19 89sabine.fischer@bb-alternatives.comwww.bb-alternatives.com
BB Alternatives GmbHUniversitätsstraße 7150931 KölnFon +49 (0)221 800 508 916Mobil +49 (0)178 645 19 89alexander.bode@bb-alternatives.comwww.bb-alternatives.com