SSR-2010_lr

FEATUREThe NewesT

INformaTIoN DemaNDs By LPs

page 4

SUppoRT SERvicESDiREcToRy

Listings start on page 8

Support ServiceSreport & DirectoryBuyouts & vcj

Support ServiceS report & Directory 2010

For more information on becoming a sponsor, please contact David Harkey at 646-223-6776 or by email: [email protected]

SponSor packageS and benefitS: Gold SponSor:

• Speaker role on one of the conference panels

• Top level branding on all promotional material throughout the conference

• Top branding on signage at the event • Full slate of marketing both before

the event and post-event including email blasts, brochures, and ads in the conference delegate book

• One 6 ft tabletop in exhibition area during conference

• 7 complimentary passes to use for firm members or additional guests

• 20% discount extended to all additional invites

• Delegate list with email addresses provided 2 weeks after the conference

• Top branding position in post-conference thank you ad to appear in Buyouts

Silver SponSor:

• Branding on all promotional material • Branding on signage at the event • Full slate of marketing both before

the event and post-event including email blasts, brochures, and ads in the conference delegate book

• One 6 ft tabletop in exhibition area during conference

• 4 complimentary passes to use for firm members or additional guests of the firm

• 10% discount extended to all additional invites


• Branding in post-conference thank you ad to appear in Buyouts

For the most up-to-date information, go to www.buyoutsconferences.com

Buyouts conferences are designed to provide a forum for dialogue among senior executives in the private equity industry, and the editors of Buyouts. Because the conversation is focused on high level topics, you’ll meet a very senior crowd with the authority to recommend and authorize high ticket purchases.

Networking breaks throughout the day provide the opportunity to speak directly with attendees and speakers —and when you upgrade to Gold sponsorship, you can highlight your firm’s expertise when your executive appears on a conference panel or as a moderator.

The Third Annual Buyouts Texas this November 18 is shaping up to be better than ever with more than 30 speakers and 250 anticipated attendees! Make sure to reserve your sponsorship today for the best opportunities.

new excluSive BrandinG opportunity!

InteractIve PollIng SPonSorSHIPThroughout the day, Buyouts will poll session attendees about topics under discussion and attendees can submit votes on their phones and mobile devices. Results will be broadcast during the session. The Exclusive Interactive Polling Sponsorship includes:

• Branding on all power point slides featuring the interactive polling

• Branding on printed instruction sheets distributed during sessions plus advertisement on reverse side of instruction sheets

• Branding on all conference promotional material and signage at the event

• Full slate of marketing both before the event and post-event including email blasts, brochures and ads in the conference delegate book

• 4 complimentary passes to use for firm members

• 10% discount extended to all additional invites or guests of firm


• Branding in post-conference thank you ad to appear in Buyouts

BuyoutsTexasNovember 18, 2010 • Rosewood Crescent Hotel

Buyouts | VCJ | 3Support Services report 2010

Contents

FeatureSThe Newest Information Demands By LPs 4By Vicky Meek

other inDiceSSoftware Developers and Fund Administrators, By Clients Served 22

Software Developers and Fund Administrators, By Services Offered 23

GuiDe to Service proviDerS

Research EditorEamon [email protected](646) 223-6772

Editor-in-Charge, DealsDavid [email protected] (646) 223-6784

Publisher: Jim [email protected](646) 223-6771

Senior Creative Designer: Janet Yuen

Senior Account Manager-Subscriptions: Greg [email protected](646) 223-6787

Advertising Director: David [email protected] (646) 223-6776

Advertising Sales Executive: Elizabeth Yannone [email protected](646) 223-6795

Reprints: PARS [email protected](212) 221-9595 x426

Customer Service: Melissa [email protected](888) 605-3385 or (646) 223-4431M-F 9am-5pm EST

USA Office: 3 Times Square, 18th Floor, NY NY 10036

European Office: Aldgate House, 33 Aldgate High Street, London EC3N 1DL

Buyouts and Venture Capital Journal are published by Thomson Reuters. Entire contents copyright © 2010 by Thomson Reuters. Reproduction in any form is prohibited without the express written consent of Thomson Reuters.

3i Infotech - Framework 10

AARM Corporation 10

Abacus Business Leaders, LLC 10

Application Experts, LLC 8

Armor Compliance LLC 10

Burgiss Group, The 11

Citi Private Equity Services 11

Contact (ISR) - Management & Consulting Ltd 11

Cortland Fund Services 11

DMLT - Investment Cafe 12

EACG GmbH 12

Eagle Investment Systems 12

Endurance Asset Management, Inc 13

Ernst & Young 13

extensionEngine 13

Fascet LLC 13

Fonds de solidarite FTQ 13

Gen II Fund Services LLC 13

Glenara Management Services Ltd 14

Investment Data Services Group (IDS) 14

Invient 14

IPS-Investment Partnership Services LLC 15

J.P. Morgan Private Equity & Real Estate Services 15

Kaufman Rossin Fund Services 15

KG Financial Software Pvt Ltd 15

La Meer Associates 16

LeverPoint Management LLC 16

LKCM 16

MB Fund Administration Services 16

McGuireWoods LLP 17

Merrill Corporation 17

MidCoast Capital, LLC 17

Morris Business Development Company 18

Navatar Group 18

Netage Solutions, Inc. 18

Northern Trust 18

OCRA (Mauritius) Limited 19

PEARonline 19

PEF Services LLC 8

Q-Biz Solutions, LLC 19

RR Donnelley 20

Smartco 20

Tetra Private Equity Services LLC 20

Trance Consulting PVT LTD 20

Trident Trust Company (Cayman) Ltd. 20

Vitech Systems Group, Inc. 21

Woodfield Fund Administration 21

FEATURE4 | Buyouts | VCJ Support Services report 2010

the newest InformatIon DemanDs By LPsBy Vicky Meek

FEATURE Buyouts | VCJ | 5Support Services report 2010

As a rule, general partners are providing their investors with the information they need to assess fund performance. Yet getting a full grasp of the numbers can still be a time-consuming and frustrating process for limited partners for a host of reasons.

Most investors today feel they receive about as much information as they can usefully handle. This is particularly so now that the recent liquidity squeeze that has affected most LPs has meant fund managers are keeping a close eye on what their investors want in an effort to keep them onside for future fundraisings.

“We have found some GPs that weren’t very approachable in the past have become much more so —they are now much more proactive,” said Katharina Lichtner, managing director at Capital Dynamics, a European private equity

and real estate asset manager. “Most of the time the quarterly reports were fine, but there wasn’t always the level of communication necessary for a sustainable relationship.”

Lichtner added: “A large number of managers were already providing phenomenal reporting even before the crisis. The difference is that it has now trickled down to those that weren’t as forthcoming. Those GPs have recognized that it’s a critical element in making LPs comfortable.”

It’s an impressive achievement given the changing needs of LPs. Johnny

Randall, CFO and COO of US advisory shop StepStone Group, observed that “GPs have been deluged with requests for information” from LPs, even for such details as loan covenants and credit maturities related to individual portfolio companies.

Room For ImprovementYet despite all this, many LPs believe

there is room for improvement. A Coller Capital survey of LPs worldwide conducted in the last half of 2009 found that nearly half of respondents had recently asked for better reporting from GPs.

One of the areas in which some LPs would like to see progress is in the reports GPs provide. “The lack of standardization in private equity results in a significant difference in reporting formats and in terms of what information you do or don’t receive,” said Kara King, managing director of U.S. private equity investment advisor PCG Asset Management. “That makes the collation of data difficult.”

“As much as 98 percent of the reporting that comes out of our offices is in the form of a locked-down PDF or similar,” said David Bailey, managing partner

of fund administrator Augentius. “That means you have a team of people re-keying all the data. Why aren’t all LPs working together to ask for reports that can be ‘plugged in’ to their own systems so the data can be downloaded directly onto their systems? That’s what happens in all other areas of financial services.”

“The system is primitive,” agreed Hans van Swaay, partner at European fund investor Lyrique Private Equity. “Nearly all of the data is processed by hand by LPs. It doesn’t make sense.” He suggested that some of private equity’s largest LPs could join forces with a data provider or software house to design an appropriate system. “It wouldn’t revolutionize private equity investing, but it would take out some of the cost.”

Others said that, while this might be possible, the main difficulty would lie in the fact that LPs themselves have different IT set-ups and informational requirements. “The big issue from the GP’s perspective is that virtually every LP has different internal systems and requirements for data,” said Clinton Harris, founder and managing partner of U.S advisory shop Grove Street Advisors. “Right now there is no standard at the LP level so that the GP can report in a standard format.”

“Getting PDFs can prove problematic and there is duplication of work,” said Delaney Brown, principal at European fund-of-funds manager Hermes GPE. “However, each LP has their own template for how they store data – if they do – and so it would still be more than simply a cut and paste exercise.”

But with a bit of collaboration, it should be possible to create a system that most LPs could use to help them work more efficiently. “We would prefer GPs provide cash flows, valuations and portfolio company detail in Excel,” said King of PCG Asset Management. “However, everyone would have to agree on a format. I don’t think the GP community would agree to send out 100 different Excel formats each quarter.”

Said Lyrique Private Equity’s van Swaay: “This would be a perfect project for the national associations or perhaps

What LPs Want• Standardized reporting format• More consistent valuations• More timely reporting• Information on ESG risk

FEATURE6 | Buyouts | VCJ Support Services report 2010

ILPA [the International Limited Partners Association].” He added: “The current modus operandi in which everyone has different formats and requires LPs to have to call for clarifications involves too much to-ing and fro-ing and is simply not efficient.”

In fact, local industry associations, such as the British Venture Capital Association and European Venture Capital Association, have produced guidelines on reporting for their members. And a U.S. organization, the Private Equity Industry Guidelines Group, has set out recommended practice in this area. However, none of these efforts has attempted to standardize reporting and none have tackled the issue of reporting in a format that can be downloaded by LPs. Instead, they have focused on getting GPs to provide specific types of information to investors.

FAS 157: Still Inconsistently Applied

Reporting formats is just one area where LPs wish for greater improvement.

Another is in the application of FAS 157, the U.S. accounting standard that requires GPs to mark to market when valuing their portfolio companies. Effective November 2007, the implementation of this reporting standard is causing many LPs complications, despite the fact that most say that they are getting a lot of information from GPs about how they are arriving at their valuations.

“The intent of FAS 157 is a good one, but arriving at the right approach and understanding for a long-term focused asset class such as private equity is causing difficulties along the way,” said StepStone Group’s Randall. “Some of our clients are struggling with the question: What do I have to know to ensure that an underlying investment is valued appropriately? The rules under ASC 820 (formerly known as FAS 157) keep changing and auditors aren’t in agreement about which valuation methodology to use, and sometimes even within the same firm.”

He added: “We’re seeing an evolution of fair value accounting following FAS

157 and that may take a while to settle down. One issue that we are seeing is variation in the methods used between firms that have holdings in the same companies. That sometimes makes it difficult in conversations with auditors when the investment is held through different GPs.”

Other investors are having similar issues. “FAS 157 implementation has gone relatively smoothly for the most part, but it has taken some time to get the necessary visibility on processes and methodologies used by the GPs,” said Lichtner of Capital Dynamics. “Once we are comfortable that a GP is using a good methodology, we want to see them stick to it throughout the life of the company investment unless there are very specific reasons for change. Also, this change then should be transparent to investors.”

Grove Street’s Harris said that there can be a temptation to “flip-flop” between valuation methodologies according to what the markets are doing. “Those that used the discounted cash flow method would have found the valuations more flattering in the first part of last year,” he said. “Now, multiples are more flattering and there has been some changing of methodologies, although the accountants have been quite heavy on this. But inconsistency in general between GPs is a problem as the accounting industry allows them to interpret FAS 157 in different ways. It means LPs have to do a lot more work before they can compare

the performance of one GP to another.”

Reporting DelaysIt may be a while before the ILPA

Private Equity Principles, which set out best practices for GPs, are digested and, where appropriate, adopted.

While the principles focus primarily on areas such as fund terms, they touch on the area of reporting and it seems certain that some of private equity’s largest investors will be expecting the principles to be embraced by GPs. Most GPs are already providing much of the information set out in the principles, but the one area some may struggle with is timeliness. ILPA recommends that annual reports be made available within 75 days of year end, while quarterly reports should be disseminated within 45 days. That’s far from standard practice currently.

“We still have a problem with the delays in reporting,” said Capital Dynamics’s Lichtner. “There are still many GPs that take two and a half months after the end of the quarter to report to us. GPs should be on top of the numbers and developments of each portfolio company so it shouldn’t take that long. It would be helpful to have the reports within four weeks after the quarter end.”

“The industry is notoriously slow at getting reports to its investors,” said van Swaay of Lyrique Private Equity. “That’s especially true of year-end results. There is a lot of frustration among investors that they are still getting NAVs from 31

Lps And their information SystemsLP Name Vendor/Fund

administratorSpecial requirements/other comments

Grove Street Advisors Investran Grove Street as a fully customized system letting it provide reports tailored to different client needs.

Hermes GPE Investran Hermes GPE uses a customised system, which is strong on fund accounting and that Hermes GPE is also increasingly using for customer relationship management.

Lyrique Private Equity Under negotiation N/A

PCG Asset Management State Street Global Services

PCG provides GPs with “ideal” cash flow letters and portfolio company data spreadsheets during the negotiation process to help them understand what PCG’s reporting needs are.

Stepstone Burgiss Group N/A

Source: Buyouts

FEATURE Buyouts | VCJ | 7Support Services report 2010

December in June or even September. It may not be easy, but the industry needs to develop tools that compensate for the fact that it can be tricky. Everyone would be much happier if they could get the information in the first quarter.”

ESG RiskOf course, even if GPs make progress

in all these areas, there will continue to be requests for new types of information. One area that is rapidly becoming more important to LPs is environmental, social and governance (ESG) risk.

Over 700 investors have now signed up to the United Nation’s Principles of Responsible Investing, requiring them to build ESG risks into their investment decision-making processes and to work with the funds in which they invest to ensure sound ESG management. “The financial crisis has caused the focus on ESG risks to be diminished,” said King of PCG Asset Management. “But when we get past the recession and people are less worried about their private equity portfolios, we anticipate increased focus on this.”

That clearly means GPs will need to embed new processes in their own organizations and, importantly, report on them. “ESG risk is creeping up the agenda with many LPs,” said Lichtner of

Factors Likely to Deter re-ups in the Next 12

Months

Winter

2008-09Winter

2009-10

LP over-allocation to PE N/A 39%

LP capital constraints 41% 40%

Changes to LP strategy 49% 50%

GP style drift 72% 55%

Sharing of carry within GP 29% 56%

GP staff turnover 60% 74%

Conflicts of interest 51% 76%

Poor reporting/transparency 39% 76%

Continuity/succession issues 60% 78%

Terms & conditions 57% 79%

Poor performance of a GP’s last fund

75% 84%

Source: Coller Capital Winter 2009-2010 Barometer

Modified their investment criteria/appetite for risk

Increased their due diligence before committing to a fund

Demanded better reporting from GPs

Enhanced their team’s skills/experience

Changed their investment governance procedures

Other

60%

50%

49%

40%

13%

6%

0 10 20 30 40 50 60

times in ensuring their investors are happy with the level of information they provide. Concerns over transparency that LPs voiced in the earlier part of this decade have generally been answered. The recent financial crisis has shown GPs in a good light as most have been able to provide LPs with the information they needed to assess their own positions in what was a highly uncertain time.

Yet LPs will continue to push for more consistent and timely reporting in a format they can use. For some GPs, a failure to respond could mean adding to their fundraising risk. The Coller survey of LPs found that poor reporting and transparency had become one of the key factors in deterring them from re-ups with existing managers.

LPs will also continue to ask for new and additional information as the wider world steps up its scrutiny of corporate behavior and the regulatory environment increases the need to measure responsible investment practices. The tools and systems that GPs will need to ensure they are meeting LP informational requirements will need to adjust and develop to keep pace. v

How Lps Have changed their portfolio Management Since Summer 2007

Source: Coller Capital Winter 2009-2010 Barometer

Capital Dymamics. “Yet there is currently not a good understanding of how best to measure this in private equity and so the right framework and tools need to be developed. Otherwise we have no way of judging how well policies are being implemented and what the economic impact is.”

Clearly, LPs aren’t looking for reams of extra reporting. Most believe they have about as much as they can cope with in any case. But many will be asking questions of their GPs that they haven’t previously, such as what their employment record is in their portfolio companies, whether the businesses in which they invest are using energy efficiency measures as a means of reducing their bills and their impact on the environment, and how GPs are measuring ESG risks in individual companies as well as across the portfolio. They will need the data to answer these questions effectively.

“Most GPs will have a policy on ESG, but many are not quite there yet in terms of implementing it and reporting on their performance in this area,” said Brown of Hermes GPE. “Yet LPs will be asking more and more about these issues. That doesn’t mean there should be a raft of reporting documents for this as I suspect most LPs will want to speak to GPs face to face about this.”

GPs have come a long way in recent

SUppoRT SERvicES 8 | Buyouts | VCJ Support Services report 2010

APPLICATION EXPERTS, LLCMAIN OFFICE

1010 Depot Hill Road, Suite 101Broomfield, CO 80020USAwww.app-x.comPhone: 800-914-9120Fax: 866-530-6668

PERSONNELKevin [email protected]

Joe [email protected]

Stevan [email protected]

Josh BowesSenior [email protected]

Jill MonteraSenior [email protected]

Jason [email protected]

Ben HendershotSenior [email protected]

Mark [email protected]

Kristen LarsonOffice [email protected]

BRANCH OFFICE(S)18 Adams LaneWayland, MA 01778Phone: 508-358-2198

100 N. Riverside Plaza, Suite 2400Chicago, IL 60606Phone: 312-445-8735

SCOPE OF OPERATIONSYear Founded: 2006Number of Employees: 9Main Business: Software Developer

Clients Served• Buyout firms

• Venture firms• Institutional investors• Wealthy investors• Special advisors• Endowments, Impact Investors

Services Offered• Managing of capital calls, distributions• Creating quarterly and annual reports for

investors• Web site for LP data and reports• Monitoring of portfolio investments• Tracking investor allocations• Regulatory compliance

DESCRIPTION OF SERVICESApplication Experts specializes in serving the needs of alternative asset fund managers and investors. Our products: AIM, Pulse, and CANDI, are built on Salesforce.com and 100% cloud-based — no additional hardware or software required. We implement CRM, Fundraising, Dealflow, LP Management, and Portfolio Monitoring/Metric Tracking workflows using a robust project management methodology that ensures every firm gets the right solution quickly.

Number of Clients: 26Representative Clients: RCP Advisors, Aether Investment Partners, UTIMCO, Pepperdine University, Gray Ghost Ventures

PEF SERVICES LLC

MAIN OFFICE155 Pompton Ave, Suite 106Verona, NJ 07044USAwww.pefundservices.comPhone: 212-203-4685Fax: 212-202-6204

PERSONNEL

Anne Anquillare, [email protected]

David GerogosianExecutive [email protected]

Beth Manzi, CPASenior [email protected]

Peter Stern, CPASenior [email protected]

Tami Rabinowitz, CPASenior [email protected]

Joe CampbellSr. Web Design Analyst and Development [email protected]

Allen GreenbergExecutive [email protected]

Anne Linden, CPA [email protected]

Dave DiMatteoFund [email protected]

Samuel TarshishFund [email protected]

Matt GavinJr. Fund [email protected]

Maryann LubanskiJr. Fund [email protected]

Swapna UpperpalliIT [email protected]

Marva Hill [email protected]

Loretta [email protected]

BRANCH OFFICE(S)156 West 56th Street, suite 900New York, NY 10019Phone: 212-755-8686

SCOPE OF OPERATIONSYear Founded: 2002Number of Employees: 17Main Business: Fund Administrator

Clients Served• Buyout firms• Venture firms• Institutional investors• Mezzanine firms• Real estate firms• Funds of funds• SBIC Funds


investors• Web site for LP data and reports• Allocation of taxes• Tracking investor allocations• Preparation of tax filings• Regulatory compliance

DESCRIPTION OF SERVICESPEF Services is a fund administrator that focuses on serving the needs of small to mid-sized funds, with an expertise in the SBIC industry. As experienced fund managers ourselves, we understand the importance of maintaining top-level quality in compliance and administrative functions while managing the costs of those functions. In addition to our services, we have built web-based applications to facilitate the collection and dissemination of information and reporting to fund partners and investors. With our technology and trained professional people, we offer a very compelling value proposition which allows a fund to achieve quality in their back office while only paying for what they need.

Number of Clients: 38 firms (representing over 70 funds)Representative Clients: Hudson Ferry Capital, NewSpring Capital, Prophet Equity, Performance Equity Management, Plexus Capital

Cloud & Clear: Centralizing contact management, fundraising, and investing processes.

AIM by Application Experts transforms Salesforce.com into a complete front office solution for Fund Managers. Using AIM means better communication with limited partners and attracting and retaining more in the future. It means a deeper understanding of all investments in your universe, your pipeline, and your portfolio. It means more time investing and fundraising and less time hunting for information and preparing for meetings. CRM systems are designed to track and forecast sales activities. AIM is different. AIM speaks the language of private equity and understands the complex relationships between people and organizations in both the fundraising and investing workflows.

Leverage the Salesforce.com cloud Application Experts created AIM based on years of experience working with alternative asset fund managers and investors. With AIM there’s no hardware to buy or software to install. Your entire team can access the system from anywhere, including a mobile phone, and share up-to-the-minute information. AIM runs entirely inside the Salesforce.com cloud for rock-solid reliability and security. The platform is a market leader with over 2 million users and $1 billion in annual revenue.

Optimize your investment pipeline AIM enables you to track deals through the entire evaluation process in a scalable manner. Increased deal-flow is easily handled without adding complexity and confusion. The system provides structure and helps your team perform necessary due diligence steps accurately and on time. All important changes in deal data are tracked for easy compliance reporting.

When the time comes to make an investment decision, every piece of information you have about a deal: every meeting held, every party involved, and every critical email is in one place, facilitating more informed decisions and a more efficient process.

Maximize fundraising opportunities AIM offers complete visibility into your fundraising pipeline and a full history of communication. The system is both flexible and robust to support a wide range of fundraising strategies. AIM generates numbered PPM documents and can deliver them via fully integrated secure data rooms. An audit trail of who, what, and when is automatically maintained for all data room activities. Many AIM clients demonstrate their systems to potential limited partners as part of their pitch. Having a company knowledgebase that demonstrates an investing methodology and a clear record of due diligence activity makes a powerful statement to potential investors.

Complete the relationship cycle AIM empowers your front office with tools necessary to stay in contact with limited partners and monitor all fund investments. Investor relations staff has ready access to subscription information and up-to-date metrics on portfolio companies and fund performance. This visibility creates higher levels of service and reinforces credibility for future fundraising.

Stay focused on investing, not software Your time is valuable. You can’t afford to spend months implementing new software, nor will your team appreciate a system that adds work to their day. We understand the world of private equity and have developed a thorough and efficient process for implementation and training so it’s completed in weeks, not months. AIM is configured to your unique needs, so it lightens your workload instead of adding to it, and once you’re up and running we provide ongoing support so your team can focus on investing and fundraising.

Contact us for a demonstration

Edward Reynolds Application Experts, LLC (303) 565-5922 [email protected] http://www.app-x.com

AIM streamlines Monday morning meetings and raises accountability for everyone. The productivity gains have been meaningful and are driven by App-X’s unique industry expertise.

Michael Painter, Principal Plexus Capital


3I INFOTECH - FRAMEWORKMAIN OFFICE

Level 3525 Canada SquareLondon, E14 5LQUnited Kingdomwww.frameworksoftware.comPhone: +44 (0)20 7071 3000

PERSONNELElspeth GoodchildManaging Director

Sanjay TolaniBusiness Development Director

Bulent OsmanSales & Marketing Director

Jeremy WardProfessional Services Director

Graham FisherOperations Director

Jeff AshfordProduct Director

Adrienne WaterfieldAccount Director

SCOPE OF OPERATIONSYear Founded: 2000Number of Employees: Main Business: Software Developer

Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors• Special advisors• Consultants


investors• Web site for LP data and reports• Allocation of taxes• Monitoring of portfolio investments• Tracking investor allocations• Preparation of tax filings• Regulatory compliance

DESCRIPTION OF SERVICESFramework is a complete, end-to-end alternative assets software solution which helps manage risk, enables transparency and increases operational efficiency for all types of organisation across the entire private equity market. For the investment team, Framework’s rich, easy-to-use functionality enables effective management of relationships for fund raising and deal marketing. The system can be configured to support different deal flow processes, manage documents and meet investor reporting requirements. Framework supports the back office with powerful portfolio administration, fund accounting, performance monitoring, general ledger, reporting and ad-hoc enquiry functionality.

AARM CORPORATIONMAIN OFFICE

PO Box 53Belmont, MA 02478USAwww.aarmcorp.com/Phone: 877 296 2276Fax: 617 649 8898

PERSONNELBratati [email protected]

Gitanjali SwamyFounder and [email protected]

Irina ZeltserFounder and [email protected]

Nate RichardsDirector of Business [email protected]



Services Offered• Web site for LP data and reports• Monitoring of portfolio investments

DESCRIPTION OF SERVICESAARM (Alternative Asset Risk Management) is a Software-as-a-Service offering (SaaS) that delivers comprehensive analytical tools – insight on demand - for investors in private equity.

ABACUS BUSINESS LEADERS, LLCMAIN OFFICE

500 Lake Cook Rd., Suite 350Deerfield, IL 60015USAwww.abacusbl.comPhone: 877-412-2228Fax: 312-637-9520

PERSONNELTim [email protected]

Matt [email protected]

C.J. [email protected]

Gary [email protected]


Clients Served• Families, Corporate Business Owners

DESCRIPTION OF SERVICESAbacus Business Leaders provide hands-on senior level leadership for organizations with revenues up to $50 million. We work on an interim and project basis, full-time or part-time. We focus on growth for our clients – sales growth, earnings growth and growth in enterprise value. Key offerings include: —Strategy In A Boxsm. One of our partners facilitates this step-by-step process that engages and commits the management team to a clear purpose, specific major objectives and tactics to take the business there. —Cash flow management and balance sheet restructuring to support expanding sales —Exit and succession strategies enabling owners to work on the business and back away from being lost in it, thereby creating greater value for a future buyer.

Number of Clients: 15Representative Clients: Cadence Inc., Concord Promotions, George T. Schmidt, Millennium Electronics, Inc., Savco Corporation

ARMOR COMPLIANCE LLCMAIN OFFICE

22 Batterymarch StreetBoston, MA 02109USAwww.armorcompliance.comPhone: 617-501-2055Fax: 617-507-6118

PERSONNELDouglas F. MacLeanManaging [email protected]


Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors

Services Offered• Preparation of tax filings• Regulatory compliance

DESCRIPTION OF SERVICESArmor Compliance LLC provides comprehensive compliance solutions to hedge fund and private equity fund managers.

Number of Clients: 20

SUppoRT SERvicES Buyouts | VCJ | 11Support Services report 2010

THE BURGISS GROUPMAIN OFFICE

111 River Street, 10th FlooorHoboken, NJ 7030USAwww.burgiss.comPhone: 201-427-9600

BRANCH OFFICE(S)35 W. Lancaster Avenue, Suite 100Paoli, PA 19301USAPhone: 610-420-5584


Clients Served• Institutional investors• Wealthy investors• Special advisors• Consultants


investors• Monitoring of portfolio investments• Tracking investor allocations

DESCRIPTION OF SERVICESBurgiss provides sophisticated analytical toolsets along with rich industry data to enable institutional investors and advisors to make sense of their private equity and real asset portfolios. By helping clients understand their data through Private i, Private informant and Private iQ, investment managers can evaluate history to make better informed decisions about the future.


CITI PRIVATE EQUITY SERVICESMAIN OFFICE

245 Fifth AvenueNew York, New York 10016USAwww.privateequity.transactionservices.citigroup.comPhone: 212-477-0909Fax: 212-447-7020

PERSONNELJoe PatellaroManaging [email protected]

Andrew [email protected]

Mark O’ConnorSenior Vice [email protected]

John VancuraSenior Vice [email protected]

BRANCH OFFICE(S)One Sansome Street, 21st FloorSan Francisco, CA 94104, USAPhone: [email protected]

Glenn Kennedy3 Garden RoadCitibank Tower, 39th FloorCentral, Hong KongPhone: [email protected]

Gavan McGuire33 Canada SquareCanary WharfCitigroup Centre 1London, UKPhone: 44 207 508 [email protected]


Clients Served• Buyout firms• Venture firms• Institutional investors


investors• Allocation of taxes• Tracking investor allocations• Preparation of tax filings

DESCRIPTION OF SERVICES Citi Private Equity Services is a leading global provider of accounting, adminstration and tax services to the private equity and venture capital industry. Citi offer a high customized shared service solution, experienced staff with robust industry knowledge, and leading-edge technology. Citi’s comprehensive range of professional services and solutions include: Fund Administration, Accounting & Investor Services, Tax Compliance Services, Corporate Services and Technology. Citi has a global presence with an exclusive focus on private equity.

Number of Clients: 100+ Sponsors

(ISR) - MANAGEMENT & CONSULTING LTDMAIN OFFICE

92 Arlozorov StreetHolon, Israel 58380www.contact-inv.comPhone: +972 3 651 33 52Fax: +972 3 505 87 91

PERSONNELOfer AbarbanelChief Executive [email protected]

Tsvia BarChief Operating [email protected]


Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors• Special advisors• Consultants• Sovereign Wealth Funds



DESCRIPTION OF SERVICESComplete Front Office, Middle Office and Back Office Services, Full compliance under Basel 2, Solvency 2, MIFID and Regulations NMS Daily Market-to-Market, Stress Testing, VaR, IVaR and Monte Carlo Simulations, Straight Through Processing at T+0

Number of Clients: 35Representative Clients: Israel Ministry of Finance, Teva Pharmaceuticals, Israel Aerospace Industries, Clal Insurance BMW (Israel)

CORTLAND FUND SERVICESMAIN OFFICE

225 W. Washington, Suite 1450Chicago, Il 60606USAwww.cortlandfs.comPhone: 312-564-5100Fax: 312-376-0751

PERSONNELTom PearsonManaging [email protected]

Doug HartManaging [email protected]

Russ GoldenbergManaging [email protected]

Lora PeloquinManaging [email protected]

Tim HoughtonManaging [email protected]

Greg MyersManaging [email protected]

Michael [email protected]


Kevin [email protected]

Suzanne SmithManaging [email protected]

Jessica MeadManaging Director, General [email protected]

Matt [email protected]

Luke [email protected]

Radoslava [email protected]

Beata [email protected]


Clients Served• Venture firms• Institutional investors


investors• Web site for LP data and reports• Allocation of taxes• Monitoring of portfolio investments• Tracking investor allocations• Regulatory compliance

DESCRIPTION OF SERVICESCortland is a provider of fund administration and outsourcing services to hedge funds, asset managers, banks, mortgage companies and government agencies. Cortland provides independent asset servicing, analytics, reporting, and accounting functions required by institutional investors and fund managers to operate their day-to-day business. Additionally, clients find an expert team of consultants prepared to offer their depth of knowledge to enhance the success of any phase or business niche. Experience the high-touch service Cortland has to offer.


DMLT - INVESTMENT CAFEMAIN OFFICE

245 5th AveNew York, NY 10016USwww.investmentcafe.comPhone: 212-213-0153Fax: 212-213-0153

PERSONNELKenneth M. PierceCo-Founder and Managing [email protected]

Ben MazzaManaging [email protected]

BRANCH OFFICE(S)22 W. Washington, Suite 1500Chicago, IL 60602USAPhone: [email protected]

21/F ICBC Tower, Citibank Plaza3 Garden RoadCentral, Hong KongPhone: +852 2273 [email protected]

Ashwin Advani502, Shreekanth ChambersChembur, Mumbai 400071IndiaPhone: [email protected]

Gene Berry1731 South Kings AvenueBrandon, FL 33511USAPhone: (813) [email protected]

SCOPE OF OPERATIONSYear Founded: 2001Main Business: Software Developer

Clients Served• Buyout firms• Venture firms• Real Estate, Fund of Funds, Mezzanine, Debt,

Hedge Funds and all other Alternative Asset Firms

Services Offered• Managing of capital calls, distributions• Web site for LP data and reports• Tracking investor allocations

DESCRIPTION OF SERVICES DMLT is an independent company offering a suite of Web-based financial reporting & fundraising products to the alternative asset community under the brand name Investment Café. DMLT serves firms managing over $150 billion in capital commitments with more than 46,000 investors in 120+ countries. DMLT’s flagship product, Investment Café includes Investor Reporting, Fundraising, CRM and Capital Call Management. Investment Café has been the system of choice because it addresses the unique needs of the investor, and provides productivity tools that significantly reduce the burden of fund administration.

EACG GMBHMAIN OFFICE

Schweizer Str. 16Frankfurt am Main, 60594Germanywww.eacg.dePhone: +49 69 3660 2860Fax: +49 69 3660 2857

SCOPE OF OPERATIONSYear Founded: 2004Number of Employees: 8Main Business: Fund Administrator and Software Developer

Clients Served• Buyout firms• Venture firms• Consultants

DESCRIPTION OF SERVICESEnterprise Architecture Consulting Group is specialized in re-arranging IT-driven business models and rebuilding IT architectures. We have developed a special Risk Analysis Matrix for IT due diligence allowing focussed Business/IT assessments.

EAGLE INVESTMENT SYSTEMSMAIN OFFICE

One Wells AvenueNewton, MA 2459USAwww.eagleinvsys.comPhone: 617-219-0100

PERSONNELJohn LehnerPresident and CEO

Marc FirenzeChief Technology Officer

Fred SchperoChief Financial Officer

Dan St. OngeChief Operations Officer

BRANCH OFFICE(S)65 LaSalle Road, Suite 305West Hartford, CT 6107USAPhone: 1-860-561-4602

DIFC-The Exchange Bldg.5 North Level 6P.O.Box 506723Dubai, U.A.EPhone: + 971 44 252 501

Eagle Investment SystemsBNY Mellon Centre160 Queen Victoria StreetLondon, EC4V 4LA, UKPhone: + 44 20 7163 5700

Eagle Investment Systems200 Park Avenue, 7th FloorNew York, NY 10166USA


Eagle Investment SystemsOne Mellon Financial Center500 Grant StreetPittsburgh, PA 15258USAPhone: + 1 412 234 1131


Clients Served• Institutional investors

Services Offered• Allocation of taxes• Monitoring of portfolio investments• Regulatory compliance

DESCRIPTION OF SERVICESEagle Investment Systems LLC is a global provider of financial services technology, serving the world’s leading financial institutions. Eagle provides enterprise-wide, leading-edge technology and professional services for data management, investment accounting and performance measurement. Eagle’s Web-based solutions support the complex requirements of firms of any size including institutional investment managers, mutual funds, hedge funds, brokers, public funds, plan sponsors and insurance companies. Eagle’s product suite is offered as an installed application or can be hosted via Eagle ACCESSSM, Eagle’s ASP offering. Eagle Investment Systems LLC is a subsidiary of The Bank of New York Mellon Corporation.


ENDURANCE ASSET MANAGEMENT, INCMAIN OFFICE

1661 Worcester Road, Suite 303Framingham, MA 1701USAwww.endurancecap.netPhone: 508-665-4800Fax: 508-665-4801

PERSONNELMike HullingerPresident & [email protected] McDonoughPortfolio Manager/[email protected]

Jeff [email protected]

Mona [email protected]

BRANCH OFFICE(S)5 Milk Street, Suite 301Portland, ME 4101USAPhone: 207-772-1332Fax: 207-874-0868

ERNST & YOUNGMAIN OFFICE

5 Times SquareNew York, NY 10036USAwww.ey.comPhone: 212-773-3000Fax: 212-773-3000

PERSONNELDavid [email protected]

SCOPE OF OPERATIONSYear Founded: 1900Number of Employees: 250,000Main Business: Fund Administrator


Services Offered• Monitoring of portfolio investments• Preparation of tax filings• Regulatory compliance• Valuation services

Number of Clients: 150Representative Clients: Fortress, York Capital, The Carlyle Group, Warburg Pincus, Lexington Partners

EXTENSIONENGINEMAIN OFFICE

47 Reservation RoadAndover, MA 1810USAwww.extensionengine.comPhone: 888-822-2516Fax: 888-822-2516

PERSONNELNiksa [email protected]

BRANCH OFFICE(S)Croatia [email protected]

FASCET LLCMAIN OFFICE

224 W. 30th St., Suite 808New York, NY 10001www.fascet.comPhone: 212-448-9830Fax: 212-937-3809

BRANCH OFFICE(S)206 11th Street, Suite 504Atlanta, GA 30309Phone: [email protected]


Clients Served• Buyout firms• Institutional investors• Wealthy investors• Special advisors• Consultants• Fund Administrators

Services Offered• Managing of capital calls, distributions• Monitoring of portfolio investments• Tracking investor allocations

DESCRIPTION OF SERVICESData Integration (Interfaces) Portfolio Analytics Reporting Portfolio Managment System Implementation


FONDS DE SOLIDARITE FTQMAIN OFFICE

545 Cremazie Blvd. East, Suite 200Montreal, Quebec H2M 2W4Canadawww.fondsftq.comPhone: 514-383-8383Fax: 514-850-4847


Clients Served• Buyout firms• Institutional investors• Consultants

Services Offered• Monitoring of portfolio investments

GEN II FUND SERVICES LLCMAIN OFFICE

1270 Avenue of the Americas, 20th FloorNew York, New York 10020USAwww.gen2fund.comPhone: 212-408-0550Fax: 212-408-0594


Clients Served• Buyout firms• Venture firms


investors• Monitoring of portfolio investments• Tracking investor allocations


DESCRIPTION OF SERVICESGen II is exclusively focused on providing superior fund administration services to private equity fund sponsors and investors throughout the world. We have an unmatched level of private equity industry experience.Our services include :fund administration and accounting(which includes partner allocations and waterfall computations) ,capital call and distribution processing,investor relations,risk management and performance reporting.In addition Gen II provides bill paying,accounting and financial reporting services to fund managers,general partner entities and portfolio companies.

Number of Clients: Servicing over 15 Billion of Committed Capital

GLENARA MANAGEMENT SERVICES LTDMAIN OFFICE

36, Ibis AvenueSodnac, Quatre BornesMauritiuswww.glenaraservices.comPhone: 230-427-3676Fax: 230-427-1561

PERSONNELLorna ChuttooManaging [email protected]

Claude Michel JoryHead of Business [email protected]

Yadvi DeshaLegal and Compliance [email protected]

Nazleen EdooCompany [email protected]

Kovilen PyaneeChief Financial [email protected]

Subiraj RamanjoolooAccounts [email protected]

Yoshinee ParasuramanHead of Valuation [email protected]


Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors• Special advisors• Consultants• Investment Managers



DESCRIPTION OF SERVICESFund establishment Registrar and transfer agency Administration, valuations and reporting Insurance policy administration and unit pricing calculations Stock Exchange Listings Company Formation

Number of Clients: 40Representative Clients: Juridica Investment Ltd, Cenkos CI Ltd, Midas Capital Plc., MKE Ltd, Kantour Recour

INVESTMENT DATA SERVICES GROUP (IDS)MAIN OFFICE

5th floor, IDS House,8 St Georges MallCapeTown, Western Cape 8001South Africawww.idsfundservices.comPhone: +27 21 4021600Fax: +27 865748893

PERSONNELIan HamiltonChairman and [email protected]

Tony [email protected]



BRANCH OFFICE(S)1 Berkeley StreetLondon, W1J8DJUnited KingdomPhone: +44 20 [email protected]

2nd floor, tower Business CentreTower StreetSwatar, BKR3013MaltaPhone: +356 2546 [email protected]

IDS Mauritius2nd floor, Block B, Ruisseau Creole OfficesLa Mivoie, Riviere NoireMauritiusPhone: +230 483 [email protected]


Clients Served• Venture firms• Institutional investors• Wealthy investors• Special advisors• Hedge Funds and Funds of Hedge Funds


investors• Monitoring of portfolio investments• Tracking investor allocations• Regulatory compliance

DESCRIPTION OF SERVICESIDS is a leading independent specialist fund services company, we provide a full suite of integrated back office administration services to hedge fund managers, fund of fund managers and private equity fund managers. Key services will include advice determining fund structure and domicile, full and independent reconciliation and pricing of the portfolio, maintenance of the investor register and processing of subscriptions and redemptions.


INVIENTMAIN OFFICE

1388 Terra Bella AvenueMountain View, CA 94043USAwww.invient.comPhone: 650-316-5990


Clients Served• Institutional investors• Special advisors• Consultants



DESCRIPTION OF SERVICESFrom family trusts to funds of funds, private equity LPs of all sizes use Invient’s outsourced services and software products to reduce their back-office costs while improving the quality of investment decisions.

Number of Clients: 25-50


IPS-INVESTMENT PARTNERSHIP SERVICES LLCMAIN OFFICE

176 Federal Street, 5th FloorBoston, MA 2110USAwww.ipsfundservices.comPhone: 617-723-5023Fax: 617-812-2662




investors• Web site for LP data and reports• Allocation of taxes• Monitoring of portfolio investments• Tracking investor allocations• Regulatory compliance

DESCRIPTION OF SERVICESIPS offers small to mid-sized funds the highest level of service and provides custom solutions for complex requirements. Unlike clients of larger providers, IPS clients work directly with our top professionals. This hands-on, proactive approach means that your fund gets the attention it deserves and the service you expect. IPS is owned by our professionals with no outside investors. All IPS professionals are trained at top-tier institutions and either are CPAs or on track to becoming CPAs — something you just won’t find anywhere else.


J.P. MORGAN PRIVATE EQUITY & REAL ESTATE SERVICESMAIN OFFICE

1 Chase Manhattan PlazaNew York, NY 10005USAwww.jpmorgan.com/visit/ppsPhone: 212-552-4100Fax: 646-224-5560

BRANCH OFFICE(S)1 Chase Manhattan Plaza, Floor 17New York, NY 10005-1401USAPhone: [email protected]

60 Victoria Embankment, Floor 04London, EC4Y 0JPUKPhone: (44) [email protected]

Angus St. John - Head of Sales in Asia168 Robinson Road, Floor 24

Singapore, 68912SingaporePhone: (65) [email protected]

David Edwards - Head of Sales in Australia259 George Street, Floor 36Sydney, 2000 AustraliaPhone: 612 9250 [email protected]


Clients Served• Venture firms• Institutional investors• Wealthy investors



DESCRIPTION OF SERVICESJ.P. Morgan provides innovative outsourced private equity, real estate and infrastructure solutions that leverage our extensive expertise, powerful technology and proven processes. We support the needs of the world’s leading private equity funds through decades of experience and a reputation for superior quality of service. Our service is distinguished by the breadth of our capabilities that go beyond financial reporting and book-keeping to cover waterfall and carry administration, financial calculations oversight, and property data optimization, to help clients enhance returns, mitigate risk and increase efficiency. We are located in New York, Chicago, Dallas, San Francisco, London, Sydney, Jersey, Luxembourg and Hong Kong.


KAUFMAN ROSSIN FUND SERVICESMAIN OFFICE

155 Federal St, 6th FloorBoston, MA 2110USAwww.krfs.comPhone: 305-858-5600Fax: 305-856-3284



investors• Web site for LP data and reports

• Allocation of taxes• Monitoring of portfolio investments• Tracking investor allocations• Preparation of tax filings• Regulatory compliance

KG FINANCIAL SOFTWARE PVT LTDMAIN OFFICE

KG CampusSaravanampattiCoimbatore, Tanilnadu 641035Indiawww.kgfsl.comPhone: 0422-2666187Fax: 0422-2668325

PERSONNELGerald JonathanManager - Business [email protected]

BRANCH OFFICE(S)SUITE #108, 1ST FLOOR, NO-12,BAKE HOUSEKHALA GHODA, FORTMUMBAI, MAHARASHTRA 400023INDIAPhone: [email protected]

SCOPE OF OPERATIONSYear Founded: 2004Number of Employees: More than 200Main Business: Software Developer

Clients Served• Institutional investors• Wealthy investors• Retail Stock Brokers, Asset Management

Companies, Banks


investors• Monitoring of portfolio investments• Preparation of tax filings• Regulatory compliance

DESCRIPTION OF SERVICESSoftware Solutions, back office brokering-clearing and settlement, middle office wealth management solutions, financial accounting solutionsNumber of ClientsMORE THAN 150Representative ClientsHSBC Securities and Capital Markets (India) Private Ltd, Mumbai , HSBC Custodial Services, UBS Securities, India, Macquarie Capital Securities India Pvt Ltd, Barclays Capital India Pvt Ltd, Indiabulls Capital, India, ABN Amro Asia Equities India Ltd (now RBS), HSBC Asset Management Company, Mumbai, HSBC Bank India, HSBC Investdirect Securities, DSP Merrill Lynch, Mumbai (now BOA), Morgan Stanley India Financial Services, Mumbai, Shah Investors Home Ltd, Ahmedabad, Fortune Wealth Management Pvt Ltd, Coimbatore, Basan Equity Broking Pvt Ltd, Hyderabad


LA MEER ASSOCIATESMAIN OFFICE

426 Novato AvenueSunnyvale, CA 94086USAwww.lameera.comPhone: 408-739-2562

PERSONNELLaxmi [email protected]

Srini [email protected]

Damian ClintonVP of Sales and [email protected]

Glen PattersonDirector Sales and Marketing East [email protected]

Girish GurnaniHead of IT Business [email protected]

Pradnya JhamkhedkarSenior Business [email protected]


Clients Served• Venture firms• Institutional investors• Wealthy investors• Special advisors• Consultants

Services Offered• Monitoring of portfolio investments• Tracking investor allocations• Regulatory compliance

DESCRIPTION OF SERVICESLa Meer associats offers GRACE-IM for Operational risk management system for fund administrators, custodians, hedgefunds, broker / dealers, RIAs and GRACE-ODD Operational due diligence systems for institutional investors

LEVERPOINT MANAGEMENT LLCMAIN OFFICE

855 Route 146, Suite 250Clifton Park, NY 12065United Stateswww.leverpointmgt.comPhone: 518-373-5500Fax: 518-348-1348

PERSONNELKrista McCoyManaging [email protected]

Glen ShieldsManaging [email protected]

BRANCH OFFICE(S)230 Park AvenueNew York, NY 10169United StatesPhone: 518-373-5500




investors• Web site for LP data and reports• Allocation of taxes• Tracking investor allocations• Preparation of tax filings

DESCRIPTION OF SERVICESLeverPoint Management LLC is a boutique fund adminstration firm that has been servicing the private equity industry for over 15 years. We work to form a partnership with our clients that will last from fund to fund. We provide accurate and timely delivery of all fund and management company reporting. We also have the ability to provide tax preparation and compliance for private equity entities.


LKCMMAIN OFFICE

301 Commerce Street, Suite 1600Fort Worth, TX 76102USPhone: 817-332-3235

SCOPE OF OPERATIONSYear Founded: 1979Main Business: Fund Administrator

Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors



MB FUND ADMINISTRATION SERVICESMAIN OFFICE

E - 51Sector - 3Noida, Uttar Pradesh 201301Indiawww.mbbpo.comPhone: +91 – 0120 – 4272365Fax: +91 – 0120 – 4272365

PERSONNELAnil Kumar VarshneyCPA - Head of [email protected]

Bhupesh KumarCPA - Team [email protected]

Sunny AggarwalCPA - Team [email protected]

Nitin UppalCPA - Team [email protected]

Sandeep BajpayiSenior Financial [email protected]

Mukesh SharmaSenior Financial [email protected]

Manoj TutejaFinancial [email protected]

Amit KumarFinancial [email protected]


Clients Served• Buyout firms• Venture firms• Institutional investors• Special advisors• Hedge Funds


investors• Web site for LP data and reports• Monitoring of portfolio investments• Tracking investor allocations

DESCRIPTION OF SERVICES•FundAdministration•BookKeeping•PortfolioManagement•FinancialReports

Number of Clients: 10Representative Clients: Caspian P.E. Fund; Caspian Real Estate; Caspian Capital Management; Natixis Caspian Private Equity; OLX Inc


MCGUIREWOODS LLPMAIN OFFICE

77 West Wacker Drive, Suite 4100Chicago, IL 60618USAwww.mcguirewoods.comPhone: 312-849-8100Fax: 312-698-4548

PERSONNELMark KromkowskiPartner - [email protected]

Geoff CockrellPartner - [email protected]

Mike LuskPartner - [email protected]

Chris NesbitPartner - [email protected]

Ramsey WhitePartner - [email protected]

Rob MarksPartner - Washington, [email protected]

Charles CavalloAssociate - Chicago

Belle PereiraAssociate - Chicago

Tom DonaldsonAssociate - Charlotte

SCOPE OF OPERATIONS Main Business: Fund Administrator

Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors• Special advisors• Consultants• SBIC Funds

Services Offered• Regulatory compliance

DESCRIPTION OF SERVICESMcGuireWoods provides administrative support for private equity funds seeking licensure as a Small Business Investment Company (SBIC Fund) from the U.S. Small Business Administration.

MERRILL CORPORATIONMAIN OFFICE

1731 Embarcadero RoadPalo Alto, CA 94303United Stateswww.Datasite.comPhone: 650-493-1400Fax: 888-258-7324

PERSONNELJohn W. [email protected]

Rick R. [email protected]

Robert H. [email protected]

Roy GrossPresident, [email protected]

Brenda J. [email protected]

Craig P. [email protected]

Katherine L. [email protected]

Karen FoukeV.P. of DataSite [email protected]

Jim SnazaProject [email protected]

Debbie RuizProject [email protected]

Ryan GarvinProject [email protected]

Bobile BaProject [email protected]

Stacey JulienProject [email protected]

Marshall NorcuttProject [email protected]

Felipe CunhaProject [email protected]

Dave RobertsProject [email protected]

Sue ScheradoProject [email protected]

Alexis ArnoldProject [email protected]

Jared AsumaProject [email protected]

Lisa MillerProject [email protected]

BRANCH OFFICE(S)135 Main Street, 4th floorSan Francisco, CA 94105United States


Clients Served • Buyout firms• Venture firms• Institutional investors• Wealthy investors• Special advisors• Consultants• Law Firms

Services Offered• Creating quarterly and annual reports for

investors• Web site for LP data and reports• Preparation of tax filings• Regulatory compliance

DESCRIPTION OF SERVICESMerrill has become a leading provider of outsourced document management, branded marketing services and other information management solutions to targeted vertical markets. Our solutions enable clients to create, access, control, analyze and communicate critical information for strategy, marketing and regulatory compliance business initiatives. Our solutions maximize both value and ease of use for our customers.

Number of Clients: 200Representative Clients: Hewlitt Packard, Agilent, Microsoft, Goldman Sachs, Wells Fargo

MIDCOAST CAPITAL, LLCMAIN OFFICE

259 Radnor-Chester Road, Suite 210Radnor, PA 19087USAwww.midcoastcapital.comPhone: 610-687-8580Fax: 610-971-2154

PERSONNELStephen HarrisManaging [email protected]

Michael CuneoManaging [email protected]


Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors• Special advisors


DESCRIPTION OF SERVICESProvide liquidity for limited partners via purchase of their interest, assumption of remaining unfunded capital commitment or structured sharing arrangement.

Number of Clients: 12Representative Clients: Commons Capital, BEV Capital, TDH III, Inc., Satwik Venture Partners, UTFC

MORRIS BUSINESS DEVELOPMENT COMPANYMAIN OFFICE

413 Ave G #1Redondo Beach, CA 90277USAwww.MorrisBDC.comPhone: 310-483-2244

BRANCH OFFICE(S)Box 1009Newport Beach, CA 92659USAPhone: 310-493-2244


Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors• Consultants



DESCRIPTION OF SERVICESFull range of capital raising and managerial support including preparing to go and stay a fully reporting public company Merger and acquisitions and exposure on new interet.

Number of Clients: 6 and growing

NAVATAR GROUPMAIN OFFICE

44 Wall Street, 12th FloorNew York, NY 10005USwww.navatargroup.comPhone: 212-461-2140Fax: 212-461-2141





DESCRIPTION OF SERVICESThe future is here. Navatar Private Equity CRM, built on salesforce.com’s cloud computing platform, is getting close to its first 100 private equity/VC customers – all in the space of 18 months. With Navatar Private Equity, your investor relations, fundraising, deal flow and many other operational activities can now become extremely efficient and competitive, for a nominal monthly fee. It includes licenses from salesforce.com – there are no other hidden fees or charges.

Number of Clients: 97Representative Clients: Carlyle Group, MidOcean Partners, Health Evolution Partners, River Cities Capital Funds, High Street Capital, Satori Capital, ARlington Capital Advisors, Mangrove Equity Partners, Blackford Capital, Terra Venture Partners, SFW Capital Partners, MK Capital, Alterna Capital Partners, Torch Lake Capital Management ...

NETAGE SOLUTIONS, INC.MAIN OFFICE

400 Talcott Avenue, 3rd FloorWatertown, MA 2472USAwww.NetageSolutions.comPhone: 617-393-0000Fax: 617-393-2371

PERSONNELKrassen DraganovCEO and [email protected]

Dilian PavlovPresident and [email protected]

Stuart SheppardManaging Director, Sales & [email protected]

BRANCH OFFICE(S)1350 Avenue of the Americas, 2nd FloorNew York, NY 10019USAPhone: 646-308-1325

63 Shipchenski Prohod Blvd., 4th FloorSofia, 1574BulgariaPhone: (+359) (2) 960-6940


Clients Served• Buyout firms• Venture firms• Institutional investors• Hedge funds, Funds of Funds, Real Estate Funds,

Family Offices, Prime Brokers


investors• Web site for LP data and reports• Monitoring of portfolio investments• Regulatory compliance

DESCRIPTION OF SERVICESSince 1998, Netage Solutions, Inc. has provided best-of-breed front-office solutions for private equity and alternative investment firms. Our flagship product, Dynamo™, is a Web-based CRM solution with industry-specific capabilities for managing fundraising, investor relations, and fund reporting. The application is also utilized by investment professionals for deal tracking, pipeline management, and portfolio monitoring. With a simple, intuitive interface, tight Microsoft Office integration, and full BlackBerry® access, Dynamo™ delivers a rich, interactive user experience anywhere over the Web. The integrated Dynamo™ Online Reporting module allows firms to provide LPs with secure access to fund and account information via a branded portal.

Number of Clients: 175Representative Clients: PCG Capital Partners, Doughty Hanson & Co., Aisling Capital, Charles River Ventures, Highland Capital Partners, The Riverside Company, TH Lee, Goldberg Lindsay & Co., Veronis Suhler Stevenson

NORTHERN TRUSTMAIN OFFICE

50 South LaSalle StreetChicago, Illinois 60603United Stateswww.northerntrust.comPhone: 312-630-6000

PERSONNELPaul GuilbertGlobal Head of Private Equity Fund [email protected]

Robyn SpillaneU.S. Jurisdiction Head Private Equity Fund [email protected]

David SullivanGuernsey Jurisdiction Head Private Equity Fund [email protected]

Vincent AllenIreland Jurisdiction Head Private Equity Fund [email protected]


Joel HaskinsJersey Jurisdiction Head Private Equity Fund [email protected]

BRANCH OFFICE(S)P.O. Box 255, Trafalgar Court, Les BanquesSt Peter Port, GY1 3QLGuernsey, Channel IslandsPhone: 44-(0)[email protected]

Hamilton House 2, National Technology Park PlasseyLimerick, Co. LimerickIrelandPhone: [email protected]

P.O. Box 3812-6 Church StreetSt Helier, JE4 9ZFJersey, Channel IslandsPhone: 44-(0)[email protected]

801 South Canal Street C4NChicago, Illinois 60607United StatesPhone: (312) [email protected]

SCOPE OF OPERATIONSYear Founded: 1889Number of Employees: Over 100 for private equity fund administrationMain Business: Fund Administrator




DESCRIPTION OF SERVICESNorthern Trust is a global private equity fund administrator, with over 20 years experience. We offer a comprehensive range of services through a global operating model which supports funds and related entities in nearly 30 jurisdictions. Our core services include: assistance with fund establishment and structuring, capital drawdown management, investment execution, investor reporting, financial reporting, distributions, corporate secretarial and regulatory/compliance. As part of the Northern Trust Global Fund Services group we also have experience in servicing conventional and other alternative asset classes such as hedge and real estate funds.

Number of Clients: Over 55

OCRA (MAURITIUS) LIMITEDMAIN OFFICE

Level 2, Max City BuildingRemy Ollier StreetPort Louis, Mauritiuswww.ocra-mauritius.comPhone: 230-217-5100Fax: 230-217-5400

PERSONNELAmar [email protected]



Services Offered• Managing of capital calls, distributions• Preparation of tax filings• Regulatory compliance

DESCRIPTION OF SERVICESOCRA Mauritius is a dynamic, innovative and committed global fund services provider, our Fund Services team has particular expertise in setting up and administering collective investment schemes/ closed-end funds/ private equity funds/ venture capital funds/ hedge funds. We provide a full complement of value-added offshore fund services specially suited to each client’s needs as no two fund clients’ requirements are identical.


PEARONLINEMAIN OFFICE

16531 Englewood AveLos Gatos, CA 95032-5622USAwww.pearonline.comPhone: 408 740-5226Fax: 408-356-0814

PERSONNELJennifer Hall [email protected]

Simon [email protected]

BRANCH OFFICE(S)22 Ivor PlaceLondon, NW1 6EUUnited [email protected]

SCOPE OF OPERATIONSYear Founded: 2006Main Business: Software Developer


Services Offered• Managing of capital calls, distributions• Web site for LP data and reports

DESCRIPTION OF SERVICESPEARonline is a safe secure place for private equity and venture capital firms to keep their LP data and communications. LPs only need one user name and password to access all of the documents for all of their funds. GPs can control who has access to documents, can see who actually downloads them and when they were downloaded. This is can all be done quickly and cost effectively. The time from a spreadsheet list to up and running is just a few short hours; and the price of PEARonline is fixed for the life of the fund.

Number of Clients: 25 Firms managing/advising in excess of 40bn USDRepresentative Clients: Altius Associates, ARGUS Capital, Avigo Capital Partners, Baird Capital Partners Europe, ECI, MML Capital

Q-BIZ SOLUTIONS, LLCMAIN OFFICE

805 15th Street N.W., 9th FloorWashington, DC 20005USAwww.q-bizsolutions.comPhone: 508-210-0155Fax: 617-249-2060

PERSONNELJayne ThompsonManaging [email protected]

Nield MontgomeryManaging [email protected]




investors• Allocation of taxes• Monitoring of portfolio investments• Tracking investor allocations

DESCRIPTION OF SERVICESWe help our private equity clients enhance their reporting and efficiently scale their back-office operations. Given limited partners’ heightened demand for information transparency and pressure


on fees, back-office teams need to do more with less staff. Our flagship solution named “PEView” enhances and automates data capture and reporting, including financial statements and supplemental schedules, IRR analyses over various dimensions, partners’ capital accounts (including contributions, distributions and allocations), and portfolio company financial and operating metrics. This functionality is offered at a very competitive price with unlimited growth potential.


RR DONNELLEYMAIN OFFICE

25 Copthall AvenueLondon, EC2R 7BPUnited Kingdomwww.capitalmarkets.rrdonnelley.comPhone: +44 20 7330 1600Fax: +44 20 7330 1519

PERSONNELJohn McCannDirector - [email protected]

BRANCH OFFICE(S)24 rue RoyaleParis, 75008FrancePhone: +33 1 53 45 19 [email protected]

An der Welle 5Frankfurt am Main, D-60322GermanyPhone: +49 69 17 088 [email protected]

RR Donnelley - MilanForo Buonoparte 53, MilanItalyPhone: +39 2 8901 [email protected]

RR Donnelley - DubaiP.O. Box 52587, DubaiUAEPhone: +971 4 [email protected]


Clients Served• Buyout firms• Venture firms• Consultants


investors• Web site for LP data and reports• Regulatory compliance

DESCRIPTION OF SERVICESClients turn to RR Donnelley for collaboration - they

are looking for ideas, suggestions, and innovations. RR Donnelley’s core strength is preparing, producing, delivering, and processing communications in print and a variety of media. As a collaborative provider of integrated communications, RR Donnelley provides the following services to the Private Equity and Venture Capital community: print-related services (LBO, HY, IPO), virtual data room services (M&A, repository), compliance, translations, BPO (R&A), and print spend auditing/consultations. RR Donnelley has wholly-owned offices in every major financial center, ensuring we are available 24/7 to service the requirements of our PE and VC clients.

Number of Clients: 60000Representative Clients: Blackstone, Apollo, KKR, Bain, Apax

SMARTCOMAIN OFFICE

101 Federal Street, Suite 1600Boston, MA 2110USAwww.smartco.comPhone: 617-342-7406Fax: 617-342-7415

BRANCH OFFICE(S)37 rue de LiègeParis, 75008FrancePhone: +33 (0)1 58 22 29 [email protected]

TETRA PRIVATE EQUITY SERVICES LLCMAIN OFFICE

1044 Black Rock TpkEaston, CT 6612USAwww.Tetra-PE.comPhone: 203-260-3400Fax: 866-814-8796

PERSONNELKevin M. LynchManaging [email protected]


Clients Served• Buyout firms• Venture firms• Wealthy investors• Special advisors• Consultants


investors• Allocation of taxes• Tracking investor allocations• Regulatory compliance

DESCRIPTION OF SERVICESWe bring together the four critical principals of private equity investment management: limited partners, portfolio companies, investment managers and fund administrators. While some outsourced fund administrators provide services from a remote location, often in another state or country, Tetra emphasizes a personal approach with work performed on premises allowing the Fund Manager personnel to concentrate on supporting their portfolio rather than supporting a remote relationship.

Number of Clients: 11Representative Clients: Intermediate Capital Group, PJSC-JOSS Real Estate Partners I, LLC, Equinox Capital, Annex Capital, AlpInvest Partners

TRANCE CONSULTING PVT LTDMAIN OFFICE

Technopolis.Golf Course RoadGurgaon, Haryana 122002Indiawww.trancefundservices.comPhone: +91-124-4626088Fax: +91-124-4375888

TRIDENT TRUST COMPANY (CAYMAN) LTD.MAIN OFFICE

One Capital Place, PO Box 847Grand Cayman, KY1-1103Cayman Islandswww.tridenttrust.comPhone: 345-949-0880Fax: 345-949-0881

PERSONNELEileen CaseyVice President Client [email protected]

Brian Visel (Atlanta)Senior Vice President [email protected]

Noeleen Goes-Farrell (Luxembourg)[email protected]

Pamela Morgan (London)[email protected]

Rajan Rosick (Mauritius)Head of New [email protected]

BRANCH OFFICE(S)545 Fifth Ave Suite 402New York, New York 10017USAPhone: [email protected]

Two Securities Center3500 Piedmont Road Suite 350Atlanta, GAUSAPhone: [email protected]


Trident Fund ServicesVega Center75 parc d’activitésL-8308 CapellenLuxembourgPhone: 352 [email protected]

Trident Trust Company (Mauritius)5th Fl Barkly WharfLe Caudan Waterfront, Port LouisMauritiusPhone: [email protected]

Trident Trust Company (UK) Ltd7 Welbeck StreetLondon, W1G 9YEUnited KingdomPhone: [email protected]


Clients Served• Buyout firms• Venture firms• Hedge Funds, Fund of Hedge Funds



DESCRIPTION OF SERVICESTrident Trust offers fund sponsors an independent outsourced back office service supported by over thirty years experience of international corporate, trust and fund administration. Currently we provide fund administration services from eight jurisdictions to more than three hundred private equity, fund of funds and hedge funds which have aggregate assets under management in excess of US$30 billion. We have a dedicated team of senior front and back office executives to assist with the establishment of new funds and the transfer of existing funds, the implementation of any changes in current procedures and the negotiation of the pricing for the work to be undertaken. We add value to each fund’s operations through close cooperation with managers, fees based on administration performed and not fund size, timely and accurate reporting, customized administration and flexible investor reporting. Within our Group structure are Client Liaison Offices (CLOs) that perform both a marketing and client relationship function, and our CLOs complement the services provided by our own production offices. This operational structure ensures that we monitor the level of service provided by our offices.


VITECH SYSTEMS GROUP, INC.MAIN OFFICE

401 Park Avenue SouthNew York, NY 10016USAwww.vitechinc.comPhone: 212-868-0900Fax: 212-868-9798

PERSONNELJames VitielloVice [email protected]

Hope NawadaEquitrak Practice [email protected]

Scott GreenbergInternational Sales [email protected]

BRANCH OFFICE(S)33 St. James’s SquareLondon, SW1Y 4JSUnited KingdomPhone: +44 (0) 20 7661 [email protected]

27 Avenue de l’OperaParis, 75001FrancePhone: +33 (0) 1 70 38 54 72


Clients Served• Buyout firms• Venture firms• Institutional investors• Wealthy investors• Special advisors• Fund Administrators, Transfer Agents



DESCRIPTION OF SERVICES“Vitech Systems Group is a global provider of world-class business solutions to the Private Equity, Hedge and Alternative Asset communities. Vitech delivers solutions based on Equitrak, its proven and widely installed enterprise-software application. Equitrak is an advanced-technology application designed to meet the unique, business needs of investment and administration organizations including: • Fund Sponsors oFund Administrators • Transfer Agency oInstitutional Investors • Family Offices

Equitrak is a comprehensive, enterprise-class solution that offers a complete suite of capabilities in a single solution including: • Fund Administration • Financial Accounting • Investor Registration • KYI & AML Compliance • Management Reporting • Investor Communications• Share Allocations • NAV Maintenance • Transfer Agency Processing • Performance Analytics With Equitrak, your operations are built around defined, scalable, system-enabled best practices. Furthermore, Equitrak allows you to process and maintain all of your transactional and non-transactional data across multiple fund types and classes in a single solution.”

Number of Clients: 45Representative Clients: Hauck & Aufhäuser, SL Capital Partners, Standard Chartered Bank, Thomas Weisel Partners, Zurich Alternative Asset Management

WOODFIELD FUND ADMINISTRATION, LLCMAIN OFFICE

3601 Algonquin Road, Suite 900Rolling Meadows, IL 60008USAwww.WoodfieldLLC.comPhone: 847-255-3500Fax: 847-255-3566

PERSONNELAndrew JonesManager of Business [email protected]

22 | Buyouts | VCJ Support Services report 2010

suPPort servICes InDeCes

Software Developers and Fund Administrators, By clients ServedBUYOUT FIRMS VENTURE FIRMS INSTITUTIONAL

INVESTORSWEALTHY

INVESTORSSPECIALS ADVISORS

CONSULTANTS OTHER

3i Infotech - Framework X X X X X X

AARM Corporation X X X X X X

Abacus Business Leaders, LLC Families, Corporate Business Owners

Application Experts, LLC X X X X X Endowments, Impact Investors

Armor Compliance LLC X X X X

Burgiss Group, The X X X X

Citi Private Equity Services X X X

Contact (ISR) - Management & Consulting Ltd X X X X X X Sovereign Wealth Funds

Cortland Fund Services X X

DMLT - Investment Cafe X X Real Estate, Fund of Funds, Mezzanine, Debt, Hedge Funds and all other

Alternative Asset Firms

EACG GmbH X X X

Eagle Investment Systems X

Ernst & Young X X X

Fascet LLC X X X X X Fund Administrators

Fonds de solidarite FTQ X X X

Gen II Fund Services LLC X X

Glenara Management Services Ltd X X X X X X Investment Managers

Investment Data Services Group (IDS) X X X X Hedge Funds and Funds of Hedge Funds

Invient X X X

IPS-Investment Partnership Services LLC X X

J.P. Morgan Private Equity & Real Estate Services X X X

KG Financial Software Pvt Ltd X X Retail Stock Brokers, Asset Management Companies, Banks

La Meer Associates X X X X X

LeverPoint Management LLC X X X

LKCM X X X X

MB Fund Administration Services X X X X Hedge Funds

McGuireWoods LLP X X X X X X SBIC Funds

Merrill Corporation X X X X X X Law Firms

MidCoast Capital, LLC X X X X X

Morris Business Development Company X X X X X

Navatar Group X X X X X X

Netage Solutions, Inc. X X X Hedge funds, Funds of Funds, Real Estate Funds, Family Offices, Prime

Brokers

Northern Trust X X

OCRA (Mauritius) Limited X X X X X X

PEARonline X X

PEF Services LLC X X X Mezzanine Funds, Real Estate Funds, Funds of Funds

Q-Biz Solutions, LLC X X

RR Donnelley X X X

Tetra Private Equity Services LLC X X X X X

Trident Trust Company (Cayman) Ltd. X X Hedge Funds, Fund of Hedge Funds

Vitech Systems Group, Inc. X X X X X Fund Administrators, Transfer Agents

Buyouts | VCJ | 23Support Services report 2010

suPPort servICes InDeCes

Software Developers and Fund Administrators, By Services offeredManaging of capital calls, distributions

Creating quarterly and annual reports for investors

Web site for LP data and reports

Allocation of taxes

Monitoring of portfolio investments

Tracking investor allocations

Preparation of tax filings

Regulatory compliance

3i Infotech - Framework X X X X X X X X

AARM Corporation X X

Application Experts, LLC X X X X X X

Burgiss Group, The X X X X

Citi Private Equity Services X X X X X

Contact (ISR) - Management & Consulting Ltd X X X X X X X X

Cortland Fund Services X X X X X X X

DMLT - Investment Cafe X X X

Eagle Investment Systems X X X

Ernst & Young X X X

Fascet LLC X X X

Fonds de solidarite FTQ X

Gen II Fund Services LLC X X X X

Glenara Management Services Ltd X X X X X X X X

Investment Data Services Group (IDS) X X X X X

Invient X X X X X X

IPS-Investment Partnership Services LLC X X X X X X X

J.P. Morgan Private Equity & Real Estate Services X X X X X X X X

Kaufman Rossin Fund Services X X X X X X X X

KG Financial Software Pvt Ltd X X X X X

La Meer Associates X X X

LeverPoint Management LLC X X X X X X

LKCM X X X X X X X X

MB Fund Administration Services X X X X X

Merrill Corporation X X X X

Morris Business Development Company X X X X X

Navatar Group X X X X X X

Netage Solutions, Inc. X X X X X

Northern Trust X X X X X X X X

OCRA (Mauritius) Limited X X X

PEARonline X X

PEF Services LLC X X X X X X X

Q-Biz Solutions, LLC X X X X X

RR Donnelley X X X

Tetra Private Equity Services LLC X X X X X

Trident Trust Company (Cayman) Ltd. X X X X X X X X

Vitech Systems Group, Inc. X X X X X X X X

www.BUYOUTSNEWS.com

What arE SitE licENSES?Site license access to www.buyoutsnews.com enables multiple professionals at your company or organization to access Buyouts’ leading analysis of the US private equity industry 24/7, without the need for a user name and password.

hoW doES it Work?access to www.buyoutsnews.com is granted via iP recognition, also know as iP authentication. We determine your company’s public iP address ranges and enable access to computers within that specified range, enabling anyone on your network to automatically access all of our content without needing their own password.

What if SomEoNE iS travElliNg aNd WaNtS to accESS thE WEBSitE?We create individual accounts for people who wish to access the content from outside their network at no extra charge.

Why BUy a SitE licENSE?they:

n Negate the need for a password – customers automatically bypass that stage when they visit the site, therefore making it easier to use.

n Enable multiple staff to access the content simultaneously, without the need for multiple passwords

n Enable customers to benefit from our rSS feeds, which deliver the content to your desktop as soon as an article is published

n Enable customers to click through from the email alerts they receive directly to the articles instead of having to log in

n Enable links and articles to be emailed internally, ensuring quicker consumption of the content

n Ensure that customers are correctly licensed per the copyright

n Enjoy the benefits of a preferred level of customer support, meaning enquiries get dealt with the highest priority

What ElSE ShoUld i kNoW?We supply site licenses for single offices, multiple offices and on a global access basis. We also send hard copies of the magazine to each office, so you can still enjoy the portability a printed magazine affords.

Site licenses are an all-inclusive way of subscribing to Buyouts magazine. contact us today for more information and a quote!

a guide to company-Wide access to BUYOUTSNEWS.com via IP Authentication

How do I get started?For more information, call Greg Winterton on (+1) 646-223-6787 or email [email protected]

SSR-2010_lr

Documents

Transcript of SSR-2010_lr