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The latest news and updates from NAIC, the largest network of diverse-owned private equity firms and hedge funds.

The Largest Network of Diverse-Owned Private Equity Firms and Hedge Funds

More than $3 Trillion in Institutional Assets Gather for NAIC Private Equity and Hedge Fund Conference!

The NAIC 49th Annual Private Equity and Hedge Fund Conference on October 23-24 at UCLAs Luskin Conference Center was a resounding success, with top dealmakers, leading CIOs and capital allocators representing over $3 trillion in institutional assets in attendance. This years lineup included not only in-depth, analytical panel discussions, networking opportunities, and briefings, but also our first-ever LP Meetup where NAIC Members participated in over 100 one-on-one meetings with capital allocators and consultants. Read on for highlights of the panel discussions, Awards Luncheon, Welcome Reception and more!

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First-Time Fundraising

Raising capital for an initial fund is always a critical time for a new firm with no shortage of pitfalls awaiting new managers. In this installment of Perspectives, NAIC's online video series, Avinash Amin, MD, Co-Founder and Managing Partner of Madryn Asset Management, recalls his experiences and challenges raising capital for that initial fund while building out the necessary infrastructure and hiring key personnel to position the young firm to succeed.

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MEMBER FOCUS: Mendoza Ventures Fuels High-Tech Innovation with Smart Capital

Adrian and Senofer Mendoza helm one of the nation's very few Hispanic-owned venture capital firms. As the heads of Boston-based Mendoza Ventures, the husband and wife team execute the firm's strategy of investing in startups in artificial intelligence, fintech, and cybersecurity. Here is how the firm came to be, what they like about these sectors and how they're fueling leading-edge high-tech firms with smart capital.

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ILPA Free Model Limited Partner Agreement Available Online

The Institutional Limited Partners Association (ILPA) released the first publicly available Model Limited Partnership Agreement (LPA) for the private equity industry. The legal template, which is available for complimentary, industry-wide use, conforms to ILPA Principles 3.0 and sets a new standard for alignment of interests between general (GPs) and limited partners (LPs). The Model LPA also addresses a persistent and shared need of GPs and LPs to reduce the complexity, cost, and resources required to negotiate the terms of investment in private equity funds.

The ILPA Model LPA is a comprehensive, Delaware-law based whole of fund waterfall, LPA that can be used in its entirety to structure investments into a traditional private equity buyout fund. Sections of the document can also potentially be inserted into existing LPAs upon agreement of the parties. Additional versions of the Model LPA, including one based on a deal-by-deal waterfall, are planned for the future.

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MEMBERS NEWS

One Rock Capital to Acquire Innophos Holdings in $932M Deal

Innophos Holdings, Inc. (NASDAQ:IPHS), a leading international producer of essential ingredients, announced that it has entered into a definitive agreement with an affiliate of One Rock Capital Partners, LLC, whereby One Rock will acquire all of Innophos outstanding shares for $32.00 per share in cash in a transaction valued at approximately $932 million, including the assumption of debt. The transaction has been unanimously approved by Innophos Board of Directors. Innophos partners with world-leading health & nutrition, food & beverage and industrial brands to create science-based solutions that improve quality of life. Headquartered in Cranbury, New Jersey, Innophos has manufacturing operations across the United States, in Canada, Mexico, and China.

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DXA Investments Acquires Stake in Brazilian Cybersecurity Firm

DXA Investments recently acquired a minority stake in Sikur, a Sao Paulo-based cybersecurity company whose encryption software secures communication over computer and mobile networks. Founded in 2011, Sikur sells encrypted Sony Corp. smartphones, secure digital-banking apps as well as encryption apps for chatting, document sharing, phone and video calls that run on top of major mobile operating systems. Sikur plans to use DXAs investment to develop new products and to expand its marketing efforts as it shifts to focus on sales. Financial terms of the transaction were not disclosed.

ICV Partners Announces Investment In Horizon Air Freight

ICV Partners, LLC announced an investment in Horizon Air Freight, Inc., a specialized freight forwarder focused on the marine industry serving leading U.S. and international shipping companies and cruise lines. Founded in 1970, Horizon Air Freight provides international routing, air, and sea freight export, U.S. customs clearance, and domestic forwarding services to customers globally. Headquartered in Jamaica, NY and with operations in Houston, TX, the company leverages its global network of agent partners to facilitate shipments for vessel operators

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Dynamk Capital Divests FloDesign Sonics

FloDesign Sonics, a portfolio company of Dynamk Capital, has been acquired by MilliporeSigma, the Life Science business of Merck KGaA, Darmstadt, Germany. FloDesign Sonics, of Wilbraham, Massachusetts, is a developer of a unique acoustic cell processing platform for the industrialization of cell and gene therapy manufacturing. Financial details were not disclosed. Founded in 2009, the company launched its first commercial product (Ekko) which allows the wash, concentration, and formulation within Autologous CAR-T Manufacturing workflow. FloDesign currently has 52 granted patents with more than 200 patent applications pending.

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