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The staff of the NAIC hopes everyone enjoyed their holiday season and is ready for a productive and prosperous 2017. For the New Year, we have several initiatives in the works, including an update to our 2012 performance survey, Recognizing the Results, additions to our web video series, Perspectives, and several NAIC Road Shows that connect member firms with select LPs in various markets. In the meantime, we have a few announcements we would like to share with our members:

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

Grain Management Deal Joins Home Run Club

The NAIC Home Run Club, which recognizes significant deals completed by member firms that have returned at least 4X to their limited partners, has inducted Grain Management for its Cincinnati Bell Wireless Spectrum Transaction. In September 2014, Grain made an investment in spectrum licenses owned by regional wireless service provider Cincinnati Bell Wireless.

Concurrent with the spectrum acquisition, Grain executed a lease of most the licenses to Verizon and a bond offering secured by the Verizon lease cash flow stream, significantly reducing the amount of capital required from Fund II investors. The licenses not leased to Verizon were sold in February 2015 to T-Mobile, another national carrier. As of September 30, 2016, the transaction's realized return was 5.35x. For more information on the Home Run Club, visit: http://naicpe.com/tools/naic-home-run-club/

Compliance Corner: Regulatory Outlook for 2017

After a year of increased regulation and record enforcement actions, this installment of Compliance Corner looks at what the regulatory environment will look like for 2017. We look at what to expect from FINRA, the SEC, the Department of Labor Fiduciary Rule, as well as the new Presidential Administration on the heels of President-Elect Trump's promise to "get rid of" Dodd-Frank and the nomination of Jay Clayton, a mergers and acquisition lawyer, to replace Mary Jo White as SEC chair.

NAIC Members in the News

Clearlake Capital to Acquire LANDESK and Combine with Portfolio Company HEAT Software

Clearlake Capital Group, L.P. announced that it has signed a definitive agreement to acquire LANDESK from Thoma Bravo. Financial terms of the transaction were not disclosed. As part of the transaction, Clearlake will contribute its portfolio company HEAT Software to the new platform investment in LANDESK. LANDESK is the global authority on modern, user-centered IT. By integrating and automating IT tasks, LANDESK helps organizations balance rapidly-evolving user requirements with the need to secure critical assets and data. LANDESK is headquartered in Salt Lake City, UT, and has offices all over the world.



Siris Capital Affiliate to Acquire Mitel Mobile and Ranzure Networks

Xura, Inc., an affiliate of Siris Capital, announced definitive agreements to acquire Mitel Mobility, Inc., a division of Mitel Networks Corporation (Nasdaq: MITL, TSX: MNW), and Ranzure Networks, Inc. Mitel Mobile, formerly Mavenir Systems, is a leading provider of Voice-over-Long-Term Evolution, Voice-over-WiFi, video, Rich Communication Services, messaging, radio access and packet core solutions. Ranzure, founded by former Mavenir Systems CEO Pardeep Kohli, is an early-stage venture focused on developing 5G Cloud Radio Access Network technology. Xura, Inc. offers a portfolio of digital services solutions that enable global communications across a variety of mobile devices and platforms.



Vista Equity Affiliate to Acquire Autodata

Xura, Inc., an affiliate of Siris Capital, announced definitive agreements to acquire Solera Holdings, Inc., a global leader in data and software for the automotive, home ownership and digital identity management ecosystems, announced it entered a definitive agreement to acquire Autodata, a leading provider of technical information and knowledge solutions for the automotive service, maintenance and repair industry. Solera is an affiliate of Vista Equity Partners. Founded in 1975, UK-based Autodata has evolved from publishing iconic do-it-yourself manuals for car enthusiasts and garages, to delivering fully digital cloud-based diagnostics and repair intelligence for professional mechanics.



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