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December 2008
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Greenpark Capital, a global leader in customised secondaries solutions, has appointed Matthew Arkinstall as an Investment Director. Matthew joins a highly successful and experienced team of more than 20 people, 12 of whom are investment professionals, where he will be responsible 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. Matthew joins us at an exciting time, given the increased opportunities for respected secondaries players in the current market. As we develop as a financial institution of scale we will continue to target high calibre senior hires that are able actively to support Greenpark Capital's vision."
Mathew Arkinstall comments:
"Greenpark Capital is a formidable secondaries player with an impressive reputation for innovation and value creation, now ranked 15th globally in its market. I am glad to have joined the team at a time when the outlook, in particular, for mid-market, European secondaries is so promising."
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.
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September 2008
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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.
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June 2007
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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
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September 2006
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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.
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October 2004
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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
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March 2003
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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
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