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NAIC E-News Update

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

Heard Capital Joins NAIC

Limited Partners to Explore Benefits of Diversity During CIO Panel

The capital markets are slow to acknowledge the benefits of diversity, despite a growing number of studies proving inclusion goes hand-in-hand with superior performance and improved decision-making. Institutional investors will share how their organizations revamped their internal processes, resulting in greater commitments to diverse managers during CIO Perspectives: Seeking Returns by Utilizing Diverse-Owned Firms, a panel discussion during the NAIC Annual Private Equity & Hedge Fund Conference October 24-25, 2018 at the headquarters of William Blair & Company in Chicago.

The panelists will also share how their organizations revamped their internal processes, resulting in greater commitments to diverse managers. Moderated by Stephanie Braming, CFA, Global Head of Investment Management, Partner, William Blair & Company, the conversation will include:

Heard Capital Joins NAIC The NAIC Annual Private Equity & Hedge Fund Conference is the largest gathering of diverse-owned private equity and hedge funds. It will be attended by leading general partners, chief investment officers, limited partners, and influential decision-makers.

NAIC Compliance Corner

Best Practices Guide for Email Surveillance

The SEC requires that all electronic communications be retained and reviewed, including email and other forms of electronic communication -- text messages, instant messages, and messages sent within social media platforms. In this week's installment of Compliance Corner, NAIC partner, ICSGroup, examines the SEC’s “Books and Records Rule” to the storage and review of electronic communications by Registered Investment Advisors and offers a few best practices and advice regarding internal policies, record-keeping, and searchability, documentation and more.


ILPA Publishes Diversity and Inclusion Resources for PE Industry

Institutional Limited Partners Association (ILPA) announced the publication of several resources developed to support the advancement of diversity and inclusion within the private equity industry. These resources include an expansion to ILPA’s standard Due Diligence Questionnaire (DDQ) and guidance for developing organizational Codes of Conduct for general partners, limited partners and fund portfolio companies. The DDQ expansion includes a template for GP firms to measure and report the gender and ethnic diversity of their teams by seniority and role. It also comprises a new section of questions that will enhance an LP’s understanding of a GP’s policies and procedures in areas such as hiring, promotions, family leave, mentoring, and harassment and discrimination.


Muller & Monroe Promotes Rendel Solomon to Managing Director

Muller & Monroe Asset Management, LLC announced that Rendel Solomon, Principal, has been promoted to Managing Director effective immediately. Rendel has been with Muller & Monroe for 10 years and currently serves as a senior leader of the firm's Sales & Marketing and Client Service functions. Prior to joining Muller & Monroe, Solomon worked as an entrepreneur in the media and entertainment industry in New York. He began his professional career in the consumer-packaged goods industry as a Project Engineer for The Procter & Gamble Company in Cincinnati, OH. Solomon holds an MBA from Columbia Business School and a Bachelor of Science degree in Electrical Engineering from Tulane University.

Siris Capital Group Appoints Partner and Senior Managing Director

Siris Capital Group, LLC announced that Hilton Romanski, currently Senior Vice President and Chief Strategy Officer of Cisco Systems, Inc., will join Siris as a Partner & Senior Managing Director on the Investment Team. In his new role, Romanski will work with Siris and its Executive Partners to identify potential investment opportunities, successfully execute those transactions and apply Siris’ post-acquisition best practices to create value. Romanski will also lead the extension of Siris’ presence to the West Coast by establishing a new Siris office in Silicon Valley. With nearly 25 years of industry experience and senior leadership roles at global corporations, including 18 years at Cisco, Romanski brings a wealth of knowledge and expertise in the technology, media and telecom sectors. Romanski earned his MBA from the Stanford Graduate School of Business and his BA in History from Columbia University.

GCM Grosvenor Appoints New Managing Director

GCM Grosvenor announced that Bill Morgan has joined the firm as a Managing Director and Head of Consultant Relations, based in Chicago. Morgan brings more than 18 years of experience to the newly created position. In the role, he will work alongside GCM Grosvenor’s Business Development professionals to deepen the firm’s connectivity with the global consultant community. Prior to joining GCM Grosvenor, Morgan most recently served as a Managing Director at Mesirow Advanced Strategies focusing on U.S. and global consultant and client relationship management. His prior experience also includes senior roles in business development, consultant relations and investments at UBS and Morgan Stanley across traditional and alternative strategies, multi-asset class solutions and advisory services.

HarbourVest Partners Names Managing Director

HarbourVest Partners announced that Karen Simeone has joined the firm as a Managing Director. Based in Boston, Simeone will join Managing Directors Jamie Athanasoulas and Peter Lipson to expand the firm’s private credit business, and specifically HarbourVest’s senior credit investing capabilities. Prior to joining HarbourVest, Simeone was a Managing Director at TCW Direct Lending (formerly Regiment Capital’s direct lending arm), where she was responsible for all aspects of investing in secured debt to middle-market borrowers, including sourcing, evaluating, structuring, underwriting, and managing secured loans. Simeone received a BS from Georgetown University and studied at the London School of Economics.


Adobe to Acquire Marketo from Vista Equity Partners for $4.75B

Adobe (Nasdaq: ADBE) announced it has entered into a definitive agreement to acquire Marketo, the market-leading cloud platform for B2B marketing engagement, for $4.75 billion, subject to customary purchase price adjustments. With nearly 5,000 customers, Marketo brings together planning, engagement and measurement capabilities into an integrated B2B marketing platform. Marketo is headquartered in San Mateo, CA, with offices around the world, and serves as a strategic partner to large enterprises and fast-growing organizations across a wide variety of industries. The transaction, which is expected to close during the fourth quarter of Adobe’s 2018 fiscal year, is subject to regulatory approval and customary closing conditions.

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