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1. Venture Association NJ – Fall Entrepreneurs Expo & Elevator Pitch Olympics (www.vanj.com)
2. The 7 Investor speakers are actively seeking new deals: Sita Vasan, Senior Manager, Strategic Investments, Intel Capital Morgan Rodd, Jr., Co-Managing Partner, ArrowPath Venture Partners Ryan Ziegler, Investment Manager, Edison Venture Fund Habib Kairouz, Managing Partner, Rho Ventures Don Sussis, Angel Investor Robert A. Spira, Chariman, Chapman, Spira & Carson John Ason, Angel Investor
Moderator: John Hempill, Partner, Morrison & Foerster
New York Venture Capital Event - Fall 08
3. Venture Capital Performance News Release:
4. How Do Your IRR’s Measure Up? Private Equity Index Reports Results
August 25, 2008 - State Street Corporation announced yesterday the results of the State Street Private Equity Index (“PEI”) as of March 31, 2008. State Street launched the PEI on December 3, 2007.
The index is based on the latest quarterly statistics from State Street Investment Analytics’ Private Edge Group. Data is from more than 4,000 private equity investments totaling $200 billion. Because the index does not rely on voluntary reporting of cash flows from general partners in order to calculate returns it provides an accurate representation of private equity holdings across all funds, without any reporting bias. The Private Edge Group has one of the most expansive and comprehensive private equity data sets currently maintained, including partnership information down to the portfolio company level.
The following table shows the long-term internal rates of return of the index by major private equity strategy.
Composition and long-term IRR (IRR since inception) as of March 31, 2008
Strategy |
|
Number |
|
Commitments |
|
IRR |
Buyout |
|
639 |
|
886 |
|
15.4% |
Venture |
|
607 |
|
203 |
|
12.9% |
Other |
|
170 |
|
149 |
|
12.8% |
Total |
|
1,416 |
|
1,238 |
|
14.8% |
US Only |
|
1,168 |
|
961 |
|
13.9% |
International |
|
248 |
|
277 |
|
20.6% |
“While private equity wasn’t immune to the turbulence in the financial market in the first quarter of 2008,” said Gerard J. Labonte, vice president, State Street Corporation, “swings in private equity valuations are tempered by the focus on long-term management of underlying investments instead of reaction to quarterly earnings announcements. Overall, residual value multiples for the Index actually remained fairly stable from the prior quarter.”
Commenting on the prospects for new launches in the current economic landscape, Labonte noted, “We’ve noticed that funds launched in 2003, the year of the most recent (public) market bottom, have performed quite well in comparison to their peers. If recent history is any indication, funds launched in turbulent times can obtain pricing advantages to generate significant long-term returns.”
“The industry has been seeking a more robust source of comparative information for private equity performance and more importantly, peer group analysis,” said William Pryor, senior vice president of State Street. “Private equity investors now have a benchmark as well as an additional layer of transparency to analyze their private equity holdings.”
“The industry has long awaited a third party private equity index based on consistent and reliable data,” said Chris Ailman, chief information officer of CalSTRS. “State Street’s index is a tremendous asset in evaluating our holdings which will provide us the information necessary to make strategic business decisions.”
5. Dow Jones' Private Equity Analyst Conference is the industry's forum for leaders. It's where the very best - and the very ambitious - come together for an honest assessment of which new strategies are and are not working in the key areas of fundraising, venture capital, buyouts and distressed investing.
Download a copy of the brochure: PEAC2008Brochure.
Join senior executives from the worlds of institutional investing, buyouts, venture capital, investment banking, debt and bankruptcy, and corporate leadership for two days of insight and idea-sharing. You will:
Forge new relationships and expand existing ones with the very best networking, including a brand new kick-off gala celebration on September 15.
Gain a refreshed market perspective with timely, expert insights from over 100 of the industry's top thought leaders.
Assess emerging investment opportunities during a multi-track, multi-industry agenda covering everything from distressed investing to "alternative strategies."
See where fundraising is likely headed next with ongoing discussions featuring the allocation plans of leading institutions, advisors and funds of funds.
Sharpen your business strategies with specialized track discussions, proprietary research and hands-on workshops.
Hear from private equity's elite with an unparalleled lineup of luminary keynote speakers and top industry participants.