Greenpark Capital, a global leader in customised secondaries solutions, has promoted Naoki Ohta to Associate Investment Director. Naoki’s promotion follows three senior additions to Greenpark Capital’s highly successful and experienced multi-cultural team of 13 investment professionals over the last six months.

As Greenpark continues to develop into a financial institution of scale the strength and depth of its team will be the platform on which its success is built. Professionals of the right experience, linguistic ability and acute understanding of local markets will be able to respond actively to the market as it grows, investing well in multiple territories and identifying real value in an opaque environment.

The volume of secondaries deals brought to market in recent years has increased exponentially and is expected to continue to grow aggressively. Naoki’s promotion comes at a time when it is anticipated that the mid-market, where Greenpark has a particular focus, will see substantial secondaries deal volume, as year-end 2008 mark to market valuations as well as further NAV adjustments as at March and June 2009 generate more closable sale situations.

Since joining Greenpark Capital as an Investment Analyst in 2005, Naoki has been involved with the evaluation and execution of many secondaries investments across multiple jurisdictions. Prior to working with Greenpark Capital he spent seven years at KPMG, including three years in the Valuation Services team within Corporate Finance. Naoki is a qualified Chartered Accountant, has a degree in history from Durham University and is fluent in Japanese.

Joanna Jordan, Operations, IR Director and Co-founder, comments:

"While motivated sellers, particularly in the polarities of the large buyout and venture capital funds, are seeing distressed trades and are helping to ensure that the secondaries market continues developing to become a significantly more important part of the overall asset class, the mid-market is where the real volume will be seen. We’re well set to make the best investment choices with the right team of the right calibre."

"We are delighted to promote Naoki to Associate Investment Director. Naoki is a highly skilled professional with fantastic commitment and enthusiasm. His contribution will be invaluable as we develop as a financial institution of scale. His promotion follows rapidly on from three senior appointments and we continue to target high calibre professionals that are able actively to support Greenpark Capital’s vision."

Naoki Ohta comments:

"Greenpark Capital, currently ranked 15th globally, is a formidable secondaries player with an impressive reputation for innovation, value creation and discretion. It is great to be part of a team that is consistently developing in anticipation of major expansion and I am thrilled to have been promoted within such a highly skilled team of investment professionals."

Enquiries:

Greenpark Capital: Marleen Groen / Joanna Jordan + 44 20 7647 1400
Equus: Piers Hooper / Clare Simonds +44 20 7223 1100

Note to Editors:

Greenpark Capital www.greenparkcapital.com

Greenpark is an independent global private equity secondaries investment group, currently managing funds of €1.3 billion. Its culturally diverse investment team executes transactions across the global market with a focus on mid-sized European mature investments. Greenpark has an established reputation for structuring deals with expertise, innovation and discretion to deliver tailor-made solutions for its clients. Whether a seller requires liquidity for strategic, portfolio management or a myriad of other reasons, Greenpark delivers a customised response to their requirements.

Secondaries have been in existence since the late 1980s, when they developed as a way of allowing investors to trade out of illiquid positions in private equity funds. During the 1990s the market for secondaries steadily increased, but it was not until the early 2000s that secondaries came of age, as the secondaries market developed away from purely a means of generating short term liquidity into a proactive portfolio management tool. In the current market environment private equity investors are increasingly looking to secondaries both as a means to free up committed capital and as a highly effective tool to adjust exposures to particular asset classes or sectors, fully exit from funds or to release capital for other strategies.

Less than $10 billion was raised worldwide by secondary funds between 1995 and 2000, whereas $15 billion was raised in the secondaries market in 2007 alone. The vast amounts invested in private equity in recent years combined with the increasing liquidity pressures of the credit crunch are expected to produce good vintages for the counter-cyclical secondaries market over the next few years.

Greenpark advised funds, which are capitalised by major institutions including banks, pension funds and insurance companies from Europe, the US, Asia and the Middle East, have made over 140 fund investments. Greenpark combines experience and innovation to remain at the forefront of developments in the secondaries field.

Greenpark Capital Limited, a global leader in customised secondaries solutions, has recruited Eric Pathé as an Investment Director. Eric, who has spent over 8 years as a specialist in private equity, joins GCL’s expanding team of accomplished investment professionals, and will be responsible for deal sourcing and execution.

Eric joins Greenpark at an exciting time for the secondaries market as it develops to become a significantly more important part of the overall asset class. The volume of secondaries deals brought to market in recent years has increased from $10bn to $20bn* and is expected to grow aggressively. It is anticipated that the year-end 2008 mark to market valuation data will generate a new pricing floor for secondaries that will trigger real volume across the asset class. Further NAV adjustments as at March 2009 will get more sellers across the line as the bid-ask spread keeps narrowing. Larger funds, which are less than 40% invested, are already seeing positions trade at less than 20% of NAV but the mid market, where Greenpark has a particular focus, is expected to see the greatest deal volume. Predicted growth in this market has led Greenpark to implement a hire programme to ensure it is equipped with a high calibre team of the right experience and size to respond actively to the market as it grows. Eric is Greenpark’s third senior hire in 6 months.

Eric was a Principal and Founding Member of Langholm Capital, a mid-market buyout fund, with responsibility for deal generation and execution across Europe. Eric was previously a Senior Associate at McKinsey & Co., where he focused on financial services and technology related projects, and a Corporate Consultant at GE Capital. He has an MBA from INSEAD. Eric is French and is fluent in Spanish and English.

*SOURCE: Financial Times, December 7th 2008

Joanna Jordan, Operations, IR Director and Co-founder, comments:

"We are, once again, delighted to be welcoming another highly skilled professional to further strengthen our team. Eric’s hire fits neatly in with our appointment programme to ensure Greenpark Capital is best positioned to embrace the sharp increase in the size of the market we operate in. We are looking forward to Eric’s contribution to the continued success of the team."

Eric Pathé comments:

"In the eight years since it launched, Greenpark has built a well deserved track record as an impressive European mid market secondaries player. With the global economic downturn inevitably creating demand for secondaries, established and successful players such as Greenpark are in an excellent position to capitalise on current opportunities. I’m looking forward to playing a part in the company’s future development."

Enquiries:

Greenpark Capital: Marleen Groen / Joanna Jordan + 44 20 7647 1400
Equus: Piers Hooper / Clare Simonds +44 20 7223 1100

Note to Editors:

Greenpark Capital www.greenparkcapital.com

Greenpark is an independent global private equity secondaries investment group, currently managing funds of €1.3 billion. Its culturally diverse investment team executes transactions across the global market with a focus on mid-sized European mature investments. Greenpark has an established reputation for structuring deals with expertise, innovation and discretion to deliver tailor-made solutions for its clients. Whether a seller requires liquidity for strategic, portfolio management or a myriad of other reasons, Greenpark delivers a customised response to their requirements.

Secondaries have been in existence since the late 1980s, when they developed as a way of allowing investors to trade out of illiquid positions in private equity funds. During the 1990s the market for secondaries steadily increased, but it was not until the early 2000s that secondaries came of age, as the secondaries market developed away from purely a means of generating short term liquidity into a proactive portfolio management tool. In the current market environment private equity investors are increasingly looking to secondaries both as a means to free up committed capital and as a highly effective tool to adjust exposures to particular asset classes or sectors, fully exit from funds or to release capital for other strategies.

Less than $10 billion was raised worldwide by secondary funds between 1995 and 2000, whereas $15 billion was raised in the secondaries market in 2007 alone. The vast amounts invested in private equity in recent years combined with the increasing liquidity pressures of the credit crunch are expected to produce good vintages for the counter-cyclical secondaries market over the next few years.

Greenpark advised funds, which are capitalised by major institutions including banks, pension funds and insurance companies from Europe, the US, Asia and the Middle East, have made over 140 fund investments. Greenpark combines experience and innovation to remain at the forefront of developments in the secondaries field.

Matthew Arkinstall has joined Greenpark Capital, a global leader in customised secondaries solutions, as an Investment Director. Matthew joins a highly specialist, multi-lingual and multi-cultural team of more than 20 people, 11 of whom are investment professionals. He will have responsibility for deal sourcing and execution.

Matthew has spent the last 15 years as a specialist in private equity, originally in infrastructure direct investment. He spent nearly 10 years at MLC in Australia where he took a leading role in the development of a multi-billion dollar portfolio of private equity funds around the world. Matthew is Australian and has a First Class Honours degree in Applied Mathematics from the University of Sydney. Matthew is also an Associate of the Institute of Actuaries of Australia.

Joanna Jordan, Operations, IR Director and Co-founder, comments:
"We are delighted to be further strengthening our team following Robert Savage’s appointment in September, and welcome Matthew to the team. Given the increased opportunities for respected secondaries players in the current market, we will continue to recruit talented individuals. We are looking forward to working together to enhance our deal sourcing and execution still further."

Mathew Arkinstall comments:
"I am delighted to be joining Greenpark at such an exciting time for secondaries, in particular midmarket, European secondaries where we are focused. There is a huge opportunity for Greenpark to continue its development into a formidable mid market secondaries player and I am greatly looking forward to being a part of the company’s future success."

Contacts

Equus: +44 20 7223 1100
Piers Hooper
Clare Simonds

Greenpark Capital: +44 207 647 1400
Joanna Jordan

Notes to editors

Greenpark Capital is a dedicated secondaries specialist, with over 1.2 billion ($1.8 billion) of capital under management. Established in 2000, it specialises in providing liquidity for investors in buyout, venture and other private equity investments who are seeking to sell their investments before they reach maturity. Greenpark funds are capitalised by major institutions from Europe, the US, the Far East and the Middle East.

The Company’s multi-lingual, multi-cultural team has significant experience in corporate finance, ensuring the expert execution of transactions throughout Europe and across the world.

Greenpark Capital has a reputation for sound investment practices, innovative deal structuring and a highly responsive approach to sellers’ specific needs. It has the recognised expertise to deliver customised solutions to investors with total reliability and confidentiality. Greenpark specialises in two types of secondaries transactions: single positions or portfolios of limited partnership interests, and portfolios of direct investments, with or without incumbent managers. With a proven investment strategy focus on value rather than volume and with an emphasis on less competitive, mid-sized European transactions, Greenpark is able to avoid the volume-oriented bulk end of the secondaries market to deliver superior returns.

The secondaries market is maturing rapidly and is now an established portfolio management tool. As both demand for secondaries and the seller base increase, a range of specialised products are coming on to the market. Greenpark Capital is at the forefront of this innovation.

Greenpark Capital is delighted to announce that Robert Savage has joined the company as an Investment Director based in London.

Rob is a highly experienced private equity professional who spent 13 years at Doughty Hanson in London where he was involved at a senior level in several key transactions including the investment in the Priory. As a direct investor he was involved in transactions totaling invested capital of approximately €500 million that realized in excess of 3x equity.

Most recently Rob spent two years working as a consultant in the private equity industry. He has advised on a number of direct investments, working with a range of private equity firms, and helped a leading hedge fund establish their Global Principal Investment division targeting US$5bn funds under management.

Rob will be joining a solidly tenured and experienced team of over 20, 12 of whom are investment professionals. Rob’s appointment strengthens Greenpark Capital’s senior team and his extensive direct investing experience will enhance Greenpark Capital’s reputation for excellence, innovation and dynamism in a rapidly growing and increasingly complex market.

Joanna Jordan, Operations, IR Director and Co-founder, comments: “As we grow and prosper as a financial institution of scale we will continue to target high- calibre senior hires who are able actively to support our vision for Greenpark Capital. We look forward to reporting on other new appointments, already in the pipeline, to complete a well-balanced team in anticipation of our next fundraising.”

Robert Savage comments: “Greenpark Capital has grown rapidly to become a formidable player in the secondaries market with a reputation for innovation and value creation and now lies 15th in world rankings in its space. I look forward to being part of an enhanced team which will underscore Greenpark Capital’s hard earned reputation for innovation, professionalism and discretion in the rapidly developing secondaries market.”

Contacts

Equus: +44 20 7223 1100
Piers Hooper
Clare Simonds

Greenpark Capital: +44 207 647 1400
Joanna Jordan

Notes to editors

Greenpark Capital is a dedicated secondaries specialist, with over €1.3 billion of capital under management. Established in 2000, it specialises in providing liquidity for investors in buyout, venture and other private equity interests who are seeking to sell their investments before they reach maturity. Greenpark funds are capitalised by major institutions from Europe, the US, the Far East and the Middle East.

The Company’s multi-lingual, multi-cultural team has significant experience in corporate finance and cross-border M&A, ensuring the expert execution of transactions throughout Europe and across the world.

Greenpark Capital has a reputation for sound investment practices, innovative deal structuring and a highly responsive approach to sellers’ specific needs. It has the recognised expertise to deliver customised solutions to investors with total reliability and confidentiality. Greenpark has a proven investment strategy focus on value rather than volume, with an emphasis on less competitive, mid-sized European transactions, thus avoiding the volume-oriented bulk end of the secondaries market to deliver superior returns.

Greenpark Capital, one of Europe’s leading private equity secondaries fund managers, announces the final close of its €350m second fund, Greenpark International Investors II, L.P. The new fund follows on rapidly from its first fund raised in 2003 and brings total funds under management to c. $700m. The new fund has, again, been capitalised by major institutions from Europe, the US, the Far East and the Middle East.

The fund, which was hard capped by investors and had significant excess demand, is one of the fastest ever fund raisings in European private equity, having closed in just under three months from introduction to new investors.

The speed with which the fund closed is set against the backdrop of a competitive fund raising environment and reflects both the increasing importance of the secondaries market and the success of Greenpark Capital’s first fund. It also demonstrates the attraction to investors of Greenpark Capital’s specialist mid-market niche, which enjoys very attractive potential returns. Greenpark Capital’s first fund is already 80% invested in an attractive and diversified mix of assets. The team is fully geared up to continue its performance for fund two, thanks to its longstanding experience and reputation in the secondaries market.

The European secondaries market has grown significantly since it began in the early 1990s, as investing institutions seek the liquidity it offers. By enabling investors to trade assets before their natural maturity, secondaries can be used to support revised asset allocation models in order to achieve the optimum mix of risk, value, territory and sector. Additionally investors are increasingly seeking earlier returns from their private equity investments, particularly as primary funds choose to hold assets for longer and more recently as they find exits harder to achieve.

The expectation is that the growth of the secondaries market is set to continue. By 2005 total funds under secondaries fund management are expected to be c. $20bn compared with $3bn in 2000.

US placement agent: Denning & Co., San Francisco.

Enquiries:

Greenpark Capital: 00 44 207 647 1400
Marleen Groen
Joanna Jordan

Equus: 00 44 207 223 1100
Piers Hooper
Corinne Daniels
Photographs are available at www.visualmedia.co.uk or on request

Highlights of the study:

• German institutional investors have raised allocations to private equity by 25% increasing their commitments to the asset class at a pace markedly above normal maturity patterns
• A significant 7% of the allocation (as compared with a global average of 3%) is going to secondaries funds, demonstrating a high level of sophistication of allocation modelling.
• 62% of existing German Institutional Investors intend to invest in secondaries going forward, with 27% of respondents citing impressive returns and 23% citing risk diversification of portfolios as the key reasons for investing.
• Secondary transactions are regarded as an important portfolio management instrument, with the most important characteristics remaining discretion, a win-win solution, and the ability to structure complex transactions.
• Decisions to sell to secondaries funds are fundamentally based on achieving otherwise difficult exits (22% of respondents), active portfolio management (22%) and locking in a return (22%).

A recent study of German Institutional Investors1 has found that appetite for the private equity market is rapidly accelerating, with capital allocations up 25% from 2003. The study conducted by Prof. Dr. Stefan Jugel from the highly respected Wiesbadener Private Equity Institut in Germany shows a country accelerating its commitment to the asset class, particularly through secondaries funds, beyond the allocation patterns normally witnessed.

The backdrop for comparison purposes is that European private equity funds, in total, currently account for 27% ($306.5bn) of the total global funds raised between 1999 and 20052 (Global PE funds raised a total $1,129.1bn3). Secondaries funds globally account for 3% of the total funds under management at $37bn4 with Europe accounting for $10bn.

Key findings of this new study have shown that within this expanding market the German sector is rapidly maturing and has become considerably more institutionalised. While Germany is mirroring the investment modelling pattern previously observed in the US and UK, it is doing so at an accelerated pace. Its higher than average commitment to secondaries funds sets this trend in sharp relief. A noteworthy 62% of German Institutional Investors that have previously invested in private equity were cited as intending to commit to secondaries in the future. This marked interest in secondaries is highlighted with German Institutional investors allocating a significant 7% [to the asset class] compared to the global average of 3%.

The study showed that 18% of German Institutional investors have already invested in secondaries funds and 11% of the capital invested in Private Equity was sold via secondaries transactions. These figures highlight the increasing importance of secondaries funds to the primary market as a liquidity solution. Francesco di Valmarana at Unigestion commented:

“We are very encouraged by the findings of this research, which reinforce our positive internal forecasts for German private equity. With such a rapid increase in private equity allocations over the last three years, institutional investors have obviously understood the benefits of the asset class. Germany is set to become an increasingly significant market both for private equity fund of funds and dedicated secondaries players in the next few years.”

Joanna Jordan at Greenpark Capital added:

“This research confirms our own reading of German investors’ attitude towards secondaries market The characteristics cited as being important when considering a sale to a secondaries manager, namely discretion, being able to achieve a fair consideration for assets and the ability to structure complex transactions, show a high level of sophistication among German institutional investors.”

A copy of the research report is available upon request.

Contacts

Equus: Piers Hooper +44 20 7223 1100
Greenpark Capital: Joanna Jordan +44 20 7647 1400
Unigestion: Francesco di Valmarana +44 20 7529 4169

Note to Editors

Around 200 companies responded to the survey, which was carried out by Dr Stefan Jugel of the Wiesbadener Private Equity Institut.

Greenpark Capital

Greenpark Capital is one of the UK’s leading secondaries specialists, advising funds in excess of $700 million. Established in 2000, it specialises in providing liquidity for investors in buyout, venture and other private equity investments who are seeking to sell their investments before they reach maturity. Greenpark funds are capitalised by major institutions from Europe, the US, the Far East and the Middle East.

The Greenpark team has extensive experience in the secondaries market and a broad base of language and cultural skills, enabling the expert execution of transactions throughout Europe and across the world.

Greenpark has built a reputation for sound investment skills, innovative deal structuring and a highly responsive approach to sellers’ specific needs. It has the recognised expertise to deliver customised solutions to investors with total reliability and confidentiality.

Unigestion

Unigestion is a privately owned asset management firm that focuses exclusively on the management of innovative highly active strategies spanning the private and public capital markets. Employing over 100 people and operating through subsidiaries in Geneva, Paris, London, Guernsey and New York, Unigestion manages assets of €6.8 billion on behalf of leading pension funds, insurance companies, banks, charitable foundations and a select group of families. Established in 1971, Unigestion has been investing in private equity for over 20 years and manages a continuous series of top-quartile fund of funds and innovative specialist solutions for larger clients.

Unigestion’s services are characterised by a unique blend of assets and skills:

• With 74% of capital resources controlled by management, guaranteed independence
• €120 million of shareholders equity invested alongside its clients
• Forward thinking investment culture coupled with focused execution
• Steady asset growth and stable capital base to support long-term investment in new capabilities and systems
• An impressive proven track record.

Greenpark Capital, one of Europe’s leading private equity secondaries fund managers, announces the final close of its €350m second fund, Greenpark International Investors II, L.P. The new fund follows on rapidly from its first fund raised in 2003 and brings total funds under management to c. $700m. The new fund has, again, been capitalised by major institutions from Europe, the US, the Far East and the Middle East.

The fund, which was hard capped by investors and had significant excess demand, is one of the fastest ever fund raisings in European private equity, having closed in just under three months from introduction to new investors.

The speed with which the fund closed is set against the backdrop of a competitive fund raising environment and reflects both the increasing importance of the secondaries market and the success of Greenpark Capital’s first fund. It also demonstrates the attraction to investors of Greenpark Capital’s specialist mid-market niche, which enjoys very attractive potential returns. Greenpark Capital’s first fund is already 80% invested in an attractive and diversified mix of assets. The team is fully geared up to continue its performance for fund two, thanks to its longstanding experience and reputation in the secondaries market.

The European secondaries market has grown significantly since it began in the early 1990s, as investing institutions seek the liquidity it offers. By enabling investors to trade assets before their natural maturity, secondaries can be used to support revised asset allocation models in order to achieve the optimum mix of risk, value, territory and sector. Additionally investors are increasingly seeking earlier returns from their private equity investments, particularly as primary funds choose to hold assets for longer and more recently as they find exits harder to achieve.

The expectation is that the growth of the secondaries market is set to continue. By 2005 total funds under secondaries fund management are expected to be c. $20bn compared with $3bn in 2000.

US placement agent: Denning & Co., San Francisco.

Enquiries:

Greenpark Capital: 00 44 207 647 1400
Marleen Groen
Joanna Jordan


Equus: 00 44 207 223 1100
Piers Hooper
Corinne Daniels


Photographs are available at www.visualmedia.co.uk or on request

Greenpark Capital, the London based private equity secondaries firm, announces the successful closing of its first global private equity secondaries fund, Greenpark International Investors I, L.P., on target at $200 million.

In the face of difficult market conditions, the fund attracted capital from Europe, the Far East and Middle East, the USA and several other countries. Investors include a broad range of blue chip institutions such as insurance companies, state owned investment boards, asset managers, foundations and family offices.

Greenpark Capital was established in 2000 by Marleen Groen, Joanna Jordan and Andrew French, formerly executives at Coller Capital, another secondaries firm. Greenpark is one of only a few truly dedicated secondaries firms in Europe.

The Greenpark team has many years’ experience at the forefront of secondaries investing and the company has established itself as a prominent player in the secondaries market. The firm has gained a reputation for creative transaction structuring to suit sellers’ requirements as well as for seamless execution skills.

Marleen Groen, Chief Executive, said: “We are delighted with the excellent spread of investors that we have attracted to our first fund, and this is a real endorsement of the reputation that the firm has gained amongst major international investors.”

Greenpark completed a number of investments during its fundraising period. It has now stepped up the investment pace by converting some large deal opportunities into attractive investments for the fund and a Greenpark-led co-investment syndicate, which will significantly augment Greenpark’s total funds under management.

Greenpark purchases interests from: institutional and private investors who wish to divest some or all of their interests in private equity funds or other portfolios; general partners whose funds are close to – or already past – their maturity date; and organisations with portfolios of direct investments.

For further information, please contact:

Marleen Groen or Joanna Jordan at Greenpark Capital on Tel: +44 20 7499 2838