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NAIC Members Meet with LP’s, Consultants at Boston Roadshow

The NAIC and 13 members participated in a series of meetings on July 12-13 with institutional investors and advisors in the Boston area -- NEPC, The Meketa Group, Cambridge Associates and the Massachusetts Pension Reserves Investment Management Board (PRIM). The meetings were the first time NAIC has devoted a substantial portion of a roadshow — three out of four meetings — to spending time with several influential investment consultants before meeting with senior investment staff from PRIM. The meetings provided an excellent opportunity for each institutional investor to share information about their program while getting to know NAIC and its participating members better through an overview of NAIC and the emerging and diverse manager marketplace and dedicated time for each NAIC member to describe their firm, strategy, and current fundraising offering.

Perspectives is a video web series hosted by the NAIC that provides a look into the world of diverse investment managers and the industries in which they do business. In our most current series, José Feliciano, Managing Partner & Founder of Santa Monica, CA-based Clearlake Capital Group explains the benefits of the strategy that helped grow his firm into a $3.5 billion AUM high-performer in the technology and industrial sectors. He also discusses the value of mentorship, entrepreneurship and managing the growth of a diverse-led firm. Click below to watch the videos.

How Two Newly Proposed Regulations Could Impact Investment Firms

This installment of Compliance Corner takes a look at two important topics. First, we look at a Securities and Exchange Commission rule that would require all SEC registered investment advisers to adopt and implement a business continuity and transition plan. If a firm’s plan is not reasonably designed to address operational risks, the SEC has stated that it would be “fraudulent and deceptive” for an adviser to provide advisory services. We also look at the Commodity Futures Trading Commission's proposed Regulation Automated Trading to regulate the evolution of automated trading on U.S. designated contract markets. However, there is concern that the proposed rules to regulate automated and algorithmic trading were too broad and that they would impose too many burdens on high-frequency traders.

Last Chance to Nominate a Rising Star and Deal of the Year!

This is the last opportunity to nominate candidates for the NAIC Rising Star Award and Deal of the Year Award. The Rising Star Award recognizes outstanding young professionals in the financial industry, while the Deal of the Year Award honors a team that has completed a deal best representing the tremendous insight, extraordinary talent, and investment opportunities resident within the U.S. Emerging Domestic Market. Both awards will be presented at the Annual Private Equity and Hedge Fund Conference. Only current members are eligible to make nominations. Click below to download a nomination form:

Registration Open for Private Equity and Hedge Fund Conference

Register today for the NAIC Annual Private Equity and Hedge Fund Conference. To be held October 3-4, 2016 at Bank of America Tower in New York City, this is the premiere event for diverse-owned and emerging investment managers. The conference offers vital industry information, contacts and networking opportunities for professionals in all areas of the private equity industry. Please contact the NAIC office for more information and to learn more about additional sponsorship opportunities:

NAIC Members in the News

ICV Partners Announces Acquisition of Universal Turbine Parts

ICV Partners announced the acquisition of Universal Turbine Parts, LLC (UTP), which specializes in selling refurbished turboprop engine components and engines. Farol Asset Management, L.P. and funds and accounts advised by Neuberger Berman Private Equity invested alongside ICV in the transaction. Founded in 1993, UTP is one of the world's largest distributors of aftermarket turboprop aircraft engines and engine parts. The company specializes in the PT6 and PW100 engine platforms manufactured by Pratt & Whitney Canada that power more than 14,000 aircraft worldwide in commercial and military use and are among the most popular engines in its class. Based in Prattville, AL, UTP offers an expansive inventory, including many hard-to-find engines and parts, and high caliber customer service to its 1,200 global customers.

Auldbrass Buys Amegy Bank Portfolio Asset

Auldbrass Partners purchased for an undisclosed price a portfolio of assets from Amegy Bank, a Houston based regional with $14 billion in assets. The portfolio is comprised of LP interests in funds focused on buyout, energy, and venture capital. This transaction represents the sixth diversified portfolio Auldbrass has purchased from a global financial services company in connection with the "Volcker Rule" instituted in the Dodd-Frank Wall Street Reform and Consumer Protection Act. Auldbrass believes the portfolio’s diversification, growth potential, and high quality assets make it an attractive investment opportunity at the negotiated price.

Vista Portfolio Company to Acquire Property Contents Software and Services Provider

Solera Holdings, Inc., a global leader in cognitive technologies for the automotive and home ownership ecosystems, announced it has entered into a definitive agreement to acquire 100% ownership of Enservio, Inc. the largest U.S. provider of SaaS-based software and services to the property contents insurance marketplace. Enservio offers the industry's most robust contents software platform as well as world-class contents claims services that bring value to the entire spectrum of contents claims management. In 2007, Solera went public on the NYSE under the stock symbol "SLH", and went private in 2016 in a $6.5 billion transaction backed by leading investors that included Vista Equity Partners, Koch Industries and Goldman Sachs.

Clearlake Capital Portfolio Company Acquired by Affiliates of Apollo Global Management

Clearlake Capital Group, L.P. announced that AmQuip Crane Rental LLC has been acquired by certain funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO). In connection with the AmQuip transaction, Apollo simultaneously closed the acquisition of Maxim Crane Works, L.P. Financial terms were not disclosed. Founded in 1967 and acquired by Clearlake in October 2014, AmQuip is a leading provider of manned and bare rental lifting solutions to the North American downstream energy, industrial, non-residential construction and other end markets.

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