Investec plc · LSE:INVP
Investec — Secondaries and Fund of Funds seminar 2017
12 slides from Investec's conference presentation, Jun 6, 2017
Slide 1: Secondaries and Fund of Funds seminar
Secondaries and Fund of Funds seminar Tuesday 6 June 2017
Slide 2: Welcome
Welcome Simon Hamilton Global Head of Fund Finance, Investec
Slide 3: Pricing & returns
Pricing & returns Pricing Returns expectations 70 62.8 18 60 17 Average targeted returns (%) 50 64% 16 Response (%) 39.1 40 34.8 15 30 26.1 14 17.5% 22.3 13 20 14.9 15% 12 10 11 0 10 2016 2017 A nominal decrease Stay roughly the same 2016 2017 A nominal increase Source: Investec Fund Finance Seconda
Slide 4: Innovation
Innovation 59% felt innovation was What form of innovation in secondaries have you VERY RELEVANT witnessed? 90% 81.0% 70% 66.7% 61.9% 57.1% 50% 30% Proprietary Higher New niches New niches across deal sophistication across asset types, e.g. GP sourcing in using sectors, e.g. interests/minority/se st
Slide 5: Where do you expect to deploy most of your capital in 2017/18?
Where do you expect to deploy most of your capital in 2017/18? 90% believe they will deploy some 100 money in 2017 into GP solutions / 4.5 9 complex secondaries – with over a ¼ 22.7 believing they will deploy the majority 80 31.8 27.3 of their money here Responses (%) 60 31.8 36.4 40 13.6 45.5 None
Slide 6: Use of debt
Use of debt Key take-outs: Capital call is now a standard – 76% of funds now using it 30% of funds now make use of asset backed lending on portfolios 52% of funds are looking at a dividend recap in 2017 Hybrids – the newest toy in the box – only 10% are currently using them but over 2/3 of f
Slide 7: Generating returns in the secondary market
Panel 1 Generating returns in the secondary market
Slide 8: Generating returns in the secondary market
Panel 1 Generating returns in the secondary market Moderator • Brenlen Jinkens, Managing Director, Greenhill & Co • Ben Pearce, Principal, Campbell Lutyens • Gregg Kantor, Head of Fund Finance: US, Investec Panellists • Matt Jones, Partner, Pantheon • Pinal Nicum, Partner, Adams Street Partners Seco
Slide 9: Innovation in the secondary market: the way forward
Panel 2 Innovation in the secondary market: the way forward
Slide 10: Innovation in the secondary market
Panel 2 Innovation in the secondary market • Nicolas Lanel, Managing Director & European Head of Moderator Private Capital Advisory, Evercore • David Atterbury, Managing Director, HarbourVest Partners • Mark Drugan, Managing Director, Capital Dynamics Panellists • Mark McDonald, Global Head of Secon
Slide 11: Closing remarks
Closing remarks Simon Hamilton Global Head of Fund Finance, Investec
Slide 12: Thank you for joining us today
Thank you for joining us today
Investec — Secondaries and Fund of Funds seminar 2017 on 6ix