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Perspectives, the NAIC web video series that offers insight into the world of diverse managers and the industries in which they invest, presents a new installment. David J. Grain, Founder and Managing Partner of Grain Management LLC, sheds light on his approach to deal-making and how experience has helped him learn how to structure transactions. Mr. Grain, whose firm focuses on the tech/media/telecom space, also shares why he likes the mobile broadband space.

NAIC Road Show to Visit Columbia, SC

The NAIC Road Show, which connects member firms with select LPs in various markets, will make its next stop in Columbia, SC to meet with the South Carolina Retirement System Investment Commission on Tuesday, February 7, 2017. Space is limited to 15 attendees! One RSVP per firm will be accepted after which there will be a waiting list. To RSVP or for more information, contact Dawn Simmons - dawn@naicpe.com

ICSGroup Offers Compliance-Related Services

ICSGroup, an NAIC partner, offers a host of compliance-related services. In an environment wherein regulatory bodies are expected to become increasingly stringent with investment adviser examinations, ICSGroup’s services can prove invaluable. Founded in 2008, ICSGroup is a regulatory compliance consulting firm specializing in providing compliance support to the financial services and insurance industries. ICSGroup’s highly experienced compliance professionals are skilled in the knowledge of the standards of regulators and the rules that are applicable, as well as, how to develop and implement cost-effective business-oriented solutions.

NAIC Members in the News

The Wicks Group Acquires Invo Healthcare Associates

Invo Healthcare Associates, LLC announced that The Wicks Group of Companies has completed a majority recapitalization of the company along with management and Invo's existing shareholders at Post Capital Partners. The terms of the transaction, which closed on December 23, 2016, were not disclosed. Based in Jamison, PA, Invo is a leading national provider of school and community behavioral health and other therapeutic services to individuals with special needs, including Autism Spectrum Disorder. The company serves more than 60,000 children annually in the areas of occupational therapy, physical therapy, speech and language pathology, and Applied Behavioral Analysis, in schools and other community-based settings across the United States.



Neuberger Berman Raises $2.5 Billion for Fourth Global Private Equity Secondary Fund

Neuberger Berman announces the final close of NB Secondary Opportunities Fund IV LP (SOF IV), Neuberger Berman’s fourth global private equity secondary fund. SOF IV closed at $2.5 billion, surpassing its target of $2.0 billion. SOF IV, which launched in April 2016, is the successor to NB Secondary Opportunities Fund III LP, which had commitments of $2.0 billion. SOF IV seeks to achieve attractive risk-adjusted returns through the purchase of seasoned private equity investments from investors seeking liquidity. SOF IV has a global mandate and will pursue secondary opportunities in private equity funds, direct investments, co-investments and structured private equity opportunities.



Siris Capital Portfolio Company to Acquire Provider of Cloud Communications Services

PGi, the world’s largest dedicated provider of collaboration software and services, announced that it has entered into a definitive agreement to acquire Denver-based ReadyTalk, a leading provider of cloud communications services, including audio, web and video conferencing, and self-service and managed webinar solutions. PGi is a portfolio company of Siris Capital Group, LLC. ReadyTalk was founded in 2001 and, today, provides collaboration software and services to more than 6,000 small- and mid-sized businesses. Its business is built to provide end-to-end service and support to telecommunications service providers.



On the Move

New MainStream Capital Announces Two Promotions

New MainStream Capital announced the promotion of Luis Gonzalez to Partner and Travis Rae to Vice President. Mr. Gonzalez joined NMS in January 2016 as a Managing Director and is involved in all aspects of the firm's investment activities including sourcing, execution and monitoring of investments. Prior to joining NMS, Mr. Gonzalez was a Managing Director at MBF Healthcare Partners, where he specialized in all aspects of private equity investing in healthcare services companies nationwide. Mr. Rae has been a part of the NMS team for 6 years, having joined in February 2011 as an Associate and Controller. Mr. Rae is deeply involved in leading the firm's financial reporting, tax, compliance function, and investor communication, as well as assisting with due diligence activities and monitoring of portfolio investments.



Daphne Dufresne Joins GenNx360 Capital Partners as Managing Partner

GenNx360 Capital Partners announced that Daphne Dufresne has joined the firm as a Managing Partner. Ms. Dufresne will be actively engaged in all aspects of GenNx360’s investment activities and portfolio management, and will be a voting member of the firm’s Investment Committee. Prior to joining GenNx360, she was a founding partner and Managing Director of RLJ Equity Partners where she was responsible for sourcing, executing and monitoring investments, management of the firm, fundraising, chaired a number of the firm’s portfolio company boards, and was a member of RLJ’s Investment Committee. Prior to RLJ Equity Partners, Ms. Dufresne was a Venture Partner with Parish Capital Advisors, where she initiated and led their direct investment and co-investment program and she was a Principal at Weston Presidio. Ms. Dufresne earned a B.S. in Engineering from the University of Pennsylvania and an MBA from the Harvard Graduate School of Business.



New Positions for Doñé, Haddad at NYC Comptroller’s Office

The Office of New York City Comptroller announced that Alex Doñé has been appointed Deputy Chief Investment Officer for Private Markets and Michael Haddad was named Deputy Chief Investment Officer for Public and Tradable Markets. Mr. Doñé has been with the Comptroller’s Office since 2012. In January 2016, he was appointed Group Head of Private Markets. Before joining the Comptroller’s Office, Mr. Doñé spent more than 16 years as an investment banker and private equity investor at Clearlake Capital Group, KPMG Corporate Finance, and Merrill Lynch & Co. Mr. Haddad joined the Comptroller’s Office in January 2016 as Group Head of Public and Tradable Markets. Previously, he held senior portfolio roles at Morgan Stanley, Caxton Associates, and Soros Fund Management. He also served as a member of the U.S. Treasury Borrowing Advisory Committee and the Treasury Market Practices Group, which was sponsored by the New York Federal Reserve.



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