Private Equity and Leveraged Buyout Firms

D. Vance Private Equity and Leveraged Buyout Firms American Capital Strategies American Capital is an equity partner in management and employee buyouts; provides mezzanine and senior debt financing for buyouts led by private equity firms; and provides capital directly to private and small public companies. The company provides senior and subordinated debt and equity. Capital is available for buyouts, growth, acquisitions and recapitalizations. As a public company, we have no fixed time time horizon for our investments, allowing us to enter into longterm commitments. We can provide capital for add-on acquisitions that help build value after the initial closing. Our ability to invest senior debt, subordinated debt and equity allows us to provide one-stop financing up to $50 million and dramatically reduce the financing risk associated with a transaction, benefiting both sellers and intermediaries. Our track record of closing transactions speaks for itself. American Capital, 2 Bethesda Metro Center, 14th Floor, Bethesda, MD 20814 (301) 951-6122 (301) 654-6714 fax Info@AmericanCapital.com Apollo Management Apollo Management, the New York private equity firm headed by financier Leon Black, has mined the public stock market to raise a new $930 million, debt-financing vehicle for middle-market companies. Until now, Apollo, a prominent, 13year-old buyout sponsor and distressed-securities specialist, has drawn its capital through private placements with institutional investors such as pension funds. Over time Apollo has drummed up $13.2 billion to deploy in LBOs, corporate reorganizations and real estate. It raised its latest flagship LBO pool, the $3.8 billion Apollo Investment Fund V LP, in 2002. 1301 Avenue of The Americas Floor 38, New York, NY 10019 (212) 333-4020 Bain Capital The mission at Bain Capital is to produce superior investment returns for our investors. To accomplish this, Bain Capital follows three fundamental principles that have driven the excellence of the firm for close to 20 years: a high-performance culture, value-added approach to investing, and leveraging our institutional advantages. Our adherence to these principles has enabled Bain Capital to attract and retain some of the industry's most talented investment specialists, and to consistently generate industryleading returns. Since its inception in 1984, Bain Capital has completed over 200 equity investments. The aggregate transaction value of these investments exceeds $17 billion. Bain Capital is proud of the many companies we have helped build in partnership with our portfolio company management teams. These companies not only span a range of Industries, and Stages of development, but also have had varied in the kind of capital required to achieve their strategic objectives. 745 5th Avenue, New York, NY 10151 Phone: (212) 326-9420 Fax: (212) 421-2225 The Blackstone Group. This firm was founded in 1985 by chairman Peter Peterson and CEO Stephen Schwarzman, it is one of the top US private investment firms. The company owns more than 13 million sq. ft. of real estate in Boston, New York, San Francisco, and Washington, DC; as well as the Savoy Group of Hotels in London. Blackstone Group started as an M&A firm and began raising investment funds in the late 1980s. Its capable restructuring business has landed such bankrupt behemoth clients as Enron and Global Crossing. The company's Blackstone Alternative Asset Management unit handles a $1 billion in hedge funds for pension giant CalPERS; it is considering buying TRW's auto parts business. Address: 345 Park Ave., New York, NY 10154 Phone: 212-583-5000 Fax: 212-583-5712 1 D. Vance The Carlyle Group Established in 1987, The Carlyle Group is a private global investment firm that originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. 1001 Pennsylvania Avenue, NW, Suite 220 South, Washington, DC 20004-2505 Phone: 202 347 2626 Fax: 202 347 1818 inquiries@carlyle.com Cerberus Capital Management Named after a three-headed dog that guards the gates of hell, Cerberus Capital Management's investment strategy is to keep companies from flaming out. Holdings include a 49% stake in Japanese bank Aozora, US tech firms ICG Communications and SSA Global Technologies, and cable operator Galaxy Cable. The firm often injects capital into retail ventures -- struggling music retailer Wherehouse Entertainment was a former investment, as was beleaguered fashion house Esprit de Corp (now known as Esprit Holdings). More recently, subsidiary Riley Property acquired real estate services firm LNR Property, and Cerberus paid about $2.3 billion for MeadWestvaco's paper business, forming NewPage Corporation. 299 Park Ave., New York, NY 10171 Phone: 212-891-2100 Fax: 212-891-1540 Clayton, Dubilier & Rice This firm specializes in turnaround situations. Targeting underachieving units of large corporations, the company typically structures an LBO and works to improve operations. The firm's numerous partners, made up of former CEOs, CFOs, or COOs (and including ex-GE CEO Jack Welch), have a reputation as hands-on managers of the buys they oversee. Since it was formed in 1978, Clayton, Dubilier & Rice has invested some $2.5 billion in more than 30 deals, many of them in the technology and industrial sectors. The company has also taken a keen interest in investments in Germany, Italy, and the UK. It sold foodservice products distributor Alliant Exchange to Dutch retail giant Royal Ahold. Address: 375 Park Ave., New York, NY 10152 Phone: 212-407-5200 Fax: 212-407-5252 Equity Group Investments This firm is the apex of financier Sam Zell's pyramid of business holdings. The Chicago-based private investment group controls a multi-billion dollar mix of businesses, including real estate investment trusts (REITs), restaurants, and cruise ships. Zell's REIT portfolio makes him the US's largest owner of property leased by manufactured homeowners (Manufactured Home Communities), office buildings (Equity Office Properties Trust), and apartments (Equity Residential Properties Trust). Sam Zell has a controlling interest in Equity Group Investments. Address: 2 N. Riverside Plaza, Ste. 600 Chicago, IL 60606 Phone: 312-454-1800 Fax: 312-454-0610 Evercore Capital Partners (ECP) EPC is a $1.2 billion private equity partnership funded by prominent U.S. and international investors, including corporate pension funds, endowments, insurance companies, investment trusts, banks and families. ECP makes private equity investments in established businesses, and has differentiated itself by its ability to use Evercore’s extensive relationship network to originate opportunities and to help build value in portfolio companies. ECP’s investment guidelines are broad and flexible. We typically seek investments whose total enterprise value is at least $100 million, and have completed transactions that exceed $1.5 billion in value, in partnership with co-investors. 65 East 55th Street, 33rd Floor, New York, NY 10022 Phone: 212-857-3100 Fax: 212-857-3101 2 D. Vance Forstmann Little & Co Don't let the "Little" fool you: buyout firm Forstmann Little & Co. has been home to some big names. The firm, which specializes in telecommunications, technology, education, and health care investments, counts among its former advisory board members Secretary of Defense Donald Rumsfeld and Secretary of State Colin Powell, and George Shultz and Henry Kissinger. Since it’s founding in 1978, Forstmann Little has invested more than $10 billion in about 30 companies. It is led by the surviving founding group member, Ted Forstmann; Nicholas Forstmann died in 2001, and William Little died in 2000. Connecticut is suing Forstmann Little & Co. to recover state retirement money it claims the firm invested recklessly. Address: 767 5th Ave., New York, NY 10153 Phone: 212-355-5656 Fax: 212-759-9059 Greenhill Capital Partners, LLC Greenhill Capital manages several private equity funds with an aggregate of $1.3 billion in committed capital, focusing on the financial services, energy and telecommunications industries. Its publicly traded portfolio companies include: Global Signal Inc., Heartland Payment Systems, Inc. and Hercules Offshore, Inc. Greenhill Capital is an affiliate of Greenhill & Co., Inc. , an independent global investment banking firm with offices in New York, London, Frankfurt, Toronto and Dallas. For more information about Greenhill Capital, please visit http://www.greenhillcapitalpartners.com. Greenhill conducts interviews at a limited number of U.S. graduate business schools. Interviews for full-time positions are generally conducted in November, while interviews for summer positions typically take place in February and March. If we do not recruit at your school, please submit a cover letter and resume to the New York office at nyassociaterecruit@greenhillco.com. We will contact you if interested. Greenhill & Co. 300 Park Avenue New York NY10022 United States of America +1 212-389-1500 Tel +1 212-389-1700 Fax Gryphon Gryphon is a well-respected private equity firm focused on making $25 million to $75 million equity or equity-linked investments in the middle market. We have over $700 million of capital under management, a blue-chip cast of limited partners, and have executed over 50 middle market equity transactions since our founding in 1995. Gryphon Investors One Market Plaza Steuart Tower 24th Floor San Francisco, California 94105 Phone: 415-217-7400 Fax: 415-217-7447 info@gryphon-inv.com HarbourVest Partners, LLC HarbourVest Partners is a global private equity investment firm. It was founded in 1997 to provide institutional investors with a vehicle through which to invest in venture capital and other private equity partnerships as well as directly into operating companies. HarbourVest invests in all types of private equity funds, including venture capital and leveraged buyout funds, and also directly in operating companies. HarbourVest currently manages investments in North America, South America, Europe, Asia, Australia and Africa. The firm's clients include more than 200 pension funds, endowments, foundations, and financial institutions from the U.S., Europe, Canada, Australia, and Japan that have committed capital of about $11 billion. During its 20-year history of investing, the HarbourVest team has committed $7.9 billion to 200 managers of private equity funds on a primary basis, completed $1.3 billion in 210 purchases of secondary partnership interests, and invested $1.9 billion directly in operating companies. Since 1982, the management of HarbourVest has formed six major investment programs to invest in the United States, the most recent being HarbourVest Partners VI, a $4.6 billion investment program formed in 1999 to invest in partnerships, buyout partnerships, and direct investment opportunities. This fund is currently in an active investment mode. One Financial Center, 44th Floor, Boston, MA 02111 Phone: (617) 348-3707 Fax: (617) 350-0305 3 D. Vance Hellman & Friedman, LLC Hellman & Friedman LLC, founded in 1984, is a private equity investment firm with offices located in San Francisco, London, and New York. We raised our first institutional private equity fund in 1987. During our 18-year investing history, we have raised and managed over $8 billion of committed capital and have invested in over 50 companies. We are currently investing our fifth fund, Hellman & Friedman Capital Partners V, L.P. (HFCP V), with $3.5 billion of committed capital, which was activated in August 2004. Our objective is to invest long-term equity capital to support the strategic and financial objectives of outstanding management teams operating businesses with defensible positions in growing markets. Over our lifetime, we have distinguished ourselves as a flexible source of capital and a value-added partner. Our team consists of 30 investment professionals, including 13 managing directors with an average tenure with the Firm of 12 years. This allows us to spend substantial time working with the companies in which we invest. Limited partner investors in our funds include many of the largest U.S. and international corporate pension funds, U.S. state pension funds, university endowments and foundations. And, in HFCP V, we (the partners of the firm) collectively are one of the largest limited partners. Hellman & Friedman LLC One Maritime Plaza, 12th Floor San Francisco, CA 94111 Phone (415) 788-5111 Facsimile (415) 788-0176 Hellman & Friedman LLC 375 Park Avenue, 20th Floor New York, NY 10152 Phone (212) 871-6680 Facsimile (212) 871-6688 info@hf.com Hicks, Muse, Tate & Furst This company creates investment pools in the form of limited partnerships. Investors are mostly pension funds but also include financial institutions and wealthy private investors. The leveraged buyout firm assembles limited partnership investment pools, targets underperforming companies in specific niches, builds them up, and uses them to form a nucleus for other investments. Hicks, Muse also has holdings in manufacturing and real estate. Address: 200 Crescent Ct., Ste. 1600, Dallas, TX 75201 Phone: 214-740-7300 Fax: 214-720-7888 J.P. Morgan Partners, LLC J.P. Morgan Partners, LLC ("JPMP") is a leading private equity organization. Its primary goal is to build a diversified portfolio of investments in middle-market buyouts, growth equity and venture in the United States and Europe, and across its five core industry segments. JPMP complements this strategy with focused efforts in emerging markets in Latin America and Asia. Gluing this strategy together is the global integrated network, which enables JPMP to draw on expert resources residing within JP Morgan Chase, its extensive portfolio, and worldwide contact network to source attractive opportunities and manage its investments. As of September 30, 2004, JPMP has approximately $13 billion in capital under management. With approximately 120 investment professionals, JPMP invests globally through nine principal offices. Since its inception in 1984, JPMP has closed more than 1,300 individual transactions. JPMP's diversified portfolio includes board seats in over 300 companies. JPMorgan Partners is the private equity arm of J.P. Morgan Chase & Co., a leading global financial services firm with assets of $1.1 trillion and operations in more than 50 countries. Other prominent institutions and individuals are also investors in JPMP. 1221 Avenue of the Americas New York, NY 10020 (212) 899-3400 Fax: (212) 899-3401 50 California Street 29th Floor San Francisco, CA 94111 (415) 591-1200 Fax: (415) 591-1205 Kohlberg Kravis Roberts This firm, popularly known as KKR, has shed its hostile takeover image for a kinder, gentler, buy-and-build strategy. KKR assembles funds to buy low and sell high. An active investor, the firm supervises or installs new management and revamps 4 D. Vance strategy and corporate structure, selling underperforming units or adding new ones. KKR profits not only from its direct interest in these companies but also from fund and company management fees. Address: 9 W. 57th St., Ste. 4200, New York, NY 10019 Phone: 212-750-8300 Fax: 212-750-0003 Lehman Brothers Holdings, Inc. Lehman Brothers is a lean, mean, investment banking machine. One of the top bulge-bracket firms, the company is perennially among the industry leaders in mergers and acquisition advice and financing; it also boasts significant debt and equity underwriting, restructuring advisory, and private equity operations. Capital markets activities (its largest segment) entail institutional brokerage, market making, equity research, securities lending, mortgage banking, and real estate investment. Its asset management business, which oversees more than $135 billion for clients, includes private banking, trust services, and Neuberger Berman. Employees and management own about a third of Lehman Brothers. 745 7th Ave., New York, NY 10019 (Map) Phone: 212-526-7000 Fax: 212-526-8766 Toll Free: 800-666-2388 http://www.lehman.com LLR Partners Inc. LLR is a $620 million private equity firm that provides capital to middle market growth companies with proven business models in a broad range of industries, including financial, healthcare, software and business services. LLR is flexible in its approach, investing up to $50 million, taking minority or control positions and leading transactions ranging from expansion and growth capital to recapitalizations and buyouts. LLR creates value beyond its capital contribution by partnering with existing management and providing advice and access to its extensive business network. For more information about LLR, please visit http://www.llrpartners.com. Cira Centre Phone: 215.717.2900 2929 Arch Street Fax: 215.717.2270 Philadelphia, PA 19104-2868 info@llrpartners.com Madison Dearborn Partners Madison Dearborn Partners ("MDP"), based in Chicago, is one of the largest and most experienced private equity investment firms in the United States. MDP's principals manage four funds with about $7.5 billion in assets. MDP invests in management buyout and other private equity transactions across a broad spectrum of industries. MDP's objective is to invest in companies in partnership with outstanding management teams to achieve significant long-term appreciation in equity value. MDP generally seeks to invest $50 million to $400 million of equity capital in a single transaction. It focuses on several specific sectors: (i) basic industries, (ii) communications, (iii) consumer, (iv) financial services, (v) healthcare, and (vi) middle market. Many of MDP's principals have worked together since the early 1980s and together founded MDP in 1993. Previously, MDP's principals built a $2.6 billion management buyout and venture capital portfolio at First Chicago Corporation. The limited partners in MDP's investment funds include many of the largest endowments, public and private pension funds, and financial institutions in the U.S., as well as established institutional investors in Europe and Asia. Three First National Plaza, Suite 3800, Chicago, Illinois 60602 Telephone: 312-895-1000 Fax: 312-895-1001 E-mail: info@mdcp.com Milestone Partners Milestone Partners is a lower middle market private equity firm specializing in making investments of $5 to $18 million in manufacturing, distribution and service companies with valuations of up to $100 million. Milestone provides liquidity to non-management shareholders of family-owned businesses, facilitates the transition of ownership to key managers, and capitalizes on growth opportunities while maintaining the legacy of the founding entrepreneurs. Milestone's consistent focus on the lower middle market has enabled the firm to generate superior returns for our limited partners over the past ten years. Milestone is currently making investments through Milestone Partners II, L.P., a $120 million committed fund raised in 2005. 595 East Lancaster Ave., Suite 303 St. Davids, PA 19087 www.milestonepartners.com/ 5 D. Vance P: (610) 526-2700 F: (610) 526-2701 Monitor Clipper Partners, Inc. Monitor Clipper Partners is a private equity investment firm formed in 1998 by The Monitor Group, a leading group of advisory businesses that has at its core one of the world’s largest strategy consulting firms, and The Clipper Group, an experienced private equity investment firm. We seek to make private equity investments in middle-market companies in North America and Europe to which we can add significant value through the combined skills of our principals and our privileged access to the proprietary resources of The Monitor Group. MCP currently manages over $725 million of capital and has invested over $525 million in 18 transactions since making its first investment in February 1999. Two Canal Park, 4th Floor, Cambridge, Massachusetts 02141 Telephone: (617) 252-2200 Fax: (617) 252-2211 General Email: mcp@monitor.com Providence Equity Partners Inc. This is a private investment firm specializing in equity investments in communications and media companies around the world. The principals of Providence Equity manage funds with over $5.0 billion in equity commitments, including Providence Equity Partners IV, a $2.8 billion private equity fund, and have invested in more than 70 companies operating in over 20 countries. Providence Equity currently has offices in Providence, Rhode Island, London, England, and New York, New York. 50 Kennedy Plaza, 18th Floor, Providence RI, 02903 Phone (401) 751-1700 Fax (401) 751-1790 Quadrangle Group LLC This is a private investment firm, invests in mature and high-growth media and communications companies in the United States and Europe through a $1.08 billion private equity fund and in the securities of financially troubled companies across industry groups through a separately managed distressed debt investment program. Both investment programs seek to maximize value by leveraging our extensive experience, knowledge and industry relationships. Address: 375 Park Avenue, New York, NY 10152 Tel: (212) 418-1700 Fax: (212) 418-1701 Contact Quadrangle at info@quadranglegroup.com Ripplewood Holdings LLC Ripplewood Holdings is making waves in the world of private equity investment. The firm manages more than $10 billion in capital, and invests in automotive retail, food manufacturing, industrial manufacturing, banking, entertainment, and technology; portfolio holdings include Direct Holdings Worldwide, Asbury Automotive, and WRC Media. Expanding its operations in Japan, the company bought Shinsei Bank, D&M Holdings, and ailing recording label Columbia Music Entertainment (formerly Nippon Columbia). Founder and CEO Timothy C. Collins' zeal for buying iconic Japan companies has elicited the wrath of Japanese industrialists fearful of foreign ownership. A group led by Ripplewood agreed to acquire Maytag in 2005. One Rockefeller Plaza, 32nd. Fl., New York, NY 10020 Phone 212-582-6700 Fax 212-582-4110 Silver Lake Partners Silver Lake Partners is a private equity firm focused solely on making large-scale investments in leading technology companies. We are partners to world-class management teams who seek to use our capital and expertise to build and extend their market leadership. Our core investment thesis is that the technology industries represent an extraordinary yet under-exploited target for large-scale private equity investments. Silver Lake has a world-class team, an unparalleled depth of experience in technology, an extensive network of contacts, and a value-added approach that puts us in an excellent position to take advantage of the opportunities available to us. Key areas in which Silver Lake adds value to our investments include: (i) Strategic planning and corporate development, (ii) Organizational design, (iii) Recruiting, (iii) Customer and partner relationship development, (iv) Sales and marketing review, (v) Media and public relations, and (vi) Capital markets and investor relations. 6 D. Vance 9 West 57th Street, 25th Floor, New York, NY 10019 Tel: 212-981-5600 Fax: 212-981-3535 Texas Pacific Group (TPG) This firm has staked its claim on the buyout frontier with a reputation for roping in companies other firms wouldn't touch with a ten-foot pole. TPG is an active investor, often taking control of the firms in which it invests. It profits not only from the rise in value of its holdings, but also from fund management. Like investor Warren Buffett, TPG invests in brands, buying and resuscitating consumer and "luxe" labels, as well as less-recognizable technology and telecommunications companies. 301 Commerce St., Ste. 3300, Fort Worth, TX 76102 Phone: 817-871-4000 Fax: 817-871-4001 Thomas H. Lee Company This firm is the teddy bear at the gate: It only pursues companies that want to be pursued. Known as a "friendly" leveraged buyout (LBO) firm, it uses a mix of debt, funds from institutional investors, and its own money to buy companies. Unlike the fearsome LBO outfits of the 1980s, Thomas H. Lee eschews the axe for the hammer; it builds up its acquisitions and courts management cooperation. Typical acquisitions are middle-market companies with the potential for growth (if not headlines). Lee then sells the revamped acquisitions or takes them public. Founder Thomas H. Lee owns about two-thirds of the firm. Address: 75 State St., 26th Fl., Boston, MA 02109 Phone: 617-227-1050 Fax: 617-227-3514 Warburg Pincus At Warburg Pincus, we have one business: Private Equity Investing. Warburg Pincus has built on more than 30 years of experience to become a global leader among the top private equity and venture capital firms in existence today. Working in partnership with management teams, the firm adopts an active role in developing business. We provide equity capital across all stages of a company’s life cycle, from start-up and growth financings to acquisitions and restructurings. Warburg Pincus operates worldwide to source new investment opportunities, provide strategic advice and guidance, and implement creative financing structures. With an unparalleled expertise, the firm has invested more than $18 billion in approximately 490 companies in 30 countries. The Warburg Pincus strategy is to: (i) develop broad investment capabilities internally, (ii) create a global network of talented and experienced operational executives, and (iii) provide superior rates of return for its limited partners over the long term. Warburg Pincus LLC 466 Lexington Avenue, New York, NY 10017-3147 Tel: [1]212-878-0600 Fax: [1]212-878-9100 Email: info@warburgpincus.com 7