Navigator Global Investments Ltd · ASX:NGI
Navigator Global Investments — Investor Presentation (April 2022)
33 slides from Navigator Global Investments's investor presentation, Apr 7, 2022
Slide 1: Investment in Marble Capital and equity raising
Investment in Marble Capital and equity raising 7 April 2022 Authorised by: Board of Navigator Global Investments Limited
Slide 2: Navigator is a diversified asset management platform focused on Alternatives
Navigator is a diversified asset management platform with a dedicated focus on Alternatives strategies globally Broad platform exclusively dedicated to Alternatives strategies globally Diversified across nine uncorrelated managers today, each with multiple growth drivers and proven track records of
Slide 3: Operating and investing in a growing sector
Operating and investing in a growing sector Annual result Alternative asset classes are capturing greater share of allocations, particularly amid volatility in traditional markets AUM continues to grow across alternative asset classes 9% Key drivers of growth in alternative 8% Alternative assets ass
Slide 4: Summary of today’s announcements
Summary of today’s announcements ‒ Navigator today announces that it has signed definitive documents to acquire a 19.8% 1 ownership interest in Marble Capital ‒ Marble Capital is a fast growing, specialized manager with deep expertise and a proven track record in highly sought-after segments of the
Slide 5: Investment in Marble Capital
Investment in Marble Capital
Slide 6: Marble Capital investment highlights
Marble Capital investment highlights ‒ Capital solutions provider to the attractive US multi-family Real Estate asset class, with strong secular fundamentals Attractive asset ‒ Record high occupancy rates and low inventories across target markets class ‒ Multi-family assets are historically an effec
Slide 7: Marble Capital overview
Marble Annual Capital result overview Well-established and fast-growing real estate investment firm About Marble Capital Marble Capital targets high- growth markets ‒ Marble Capital provides flexible capital solutions for multifamily developers and operators nationwide IN ‒ Managed by a group of acc
Slide 8: Marble Capital investments
Marble Annual Capital result investments Proven and repeatable investment process has led to successful outcomes for clients and strong growth in AUM ‒ Primary investment structure is a defensive, preferred equity investment with a three-to-four-year investment term, investing up to 70-75% LTV ‒ Att
Slide 9: Marble Capital leadership team
Marble Annual Capital result leadership team Founding members have +100 years of experience ‒ Prior to Marble Capital, the founding members built a leading brokerage, advising the largest multifamily operators in the United States ‒ Strong long-term relationships with real estate owners and develope
Slide 10: Navigator’s platform post investment
Navigator’s platform post investment A leading diversified asset management platform with a dedicated focus on Alternatives strategies globally USD 43-45 million USD 33-35 million USD 56.4 billion USD 21.8 billion FY22 Adjusted EBITDA guidance FY22 Adjusted NPAT guidance Total Group AUM1 Ownership A
Slide 11: Further diversification post Marble Capital investment
Further result Annual diversification post Marble Capital investment Marble Capital investment aligns with Navigator’s investment strategy and adds further diversification benefits to the platform AUM by Manager (US$bn) 100% of AUM basis ‒ The Marble Capital investment further diversifies the Naviga
Slide 12: Equity Raising Details
Equity Raising Details ;
Slide 13: Details of the equity raising
Details Annual of the equity raising result ‒ Navigator is conducting a fully underwritten placement to eligible institutional, professional and sophisticated investors to raise approximately A$47m (“Placement”) and subsequent non-underwritten share purchase plan to raise up to A$10m (“SPP”) Structu
Slide 14: Key dates for the Placement and SPP
Key dates Annual for the Placement and SPP result Placement timetable Event Date Trading halt and launch of Placement Thursday, 7 April 2022 Trading halt lifted and announcement of completion of Placement Friday, 8 April 2022 Settlement of Placement Shares issued under the Placement Tuesday, 12 Apri
Slide 15: Closing
Closing
Slide 16: Navigator has delivered growth through organic performance and new investments
Navigator has delivered growth through both organic Annual result performance and compelling new investments Historic AUM growth Ownership adjusted basis CAGR Total 7.6% $21.6b Longreach 60.5% ‒ Navigator announced upgraded earnings guidance for FY22 (before NGI Strategic any contribution from Marbl
Slide 17: Balance sheet strength to pursue future growth opportunities
Balance sheet strength to pursue future growth Annual result opportunities US$ millions Jun-20 Jun-21 Dec-21 Cash 27.0 52.1 42.9 Receivables 16.0 21.0 24.5 ‒ Navigator has nil corporate debt and a strong net cash position Investments at FV 14.7 252.2 279.6 Intangibles 94.5 94.4 94.4 ‒ Undrawn commit
Slide 18: Strong pipeline and investment discipline
Strong Annual pipeline result and investment discipline Navigator has a strong pipeline of further investment opportunities, and applies a rigorous approach to deal selection, diligence and deal structuring Navigator’s investment criteria and philosophy Deep Sourcing network across: ‒ Established in
Slide 19: Questions?
ions? —_ n a) =) oO
Slide 20: Appendix A: Glossary
Appendix A: Glossary Annual result Adjusted EBITDA Earnings before interest, tax and depreciation, amortisation and excludes the net change in fair value of assets and liabilities Adjusted NPAT Net profit after tax and excludes the net change in fair value of assets and liabilities Assets under mana
Slide 21: Appendix B: Key risks
Appendix B: Key risks Annual result This section discusses some of the specific risks associated with an investment in Navigator. There are also a number of general risks, such as global economic conditions, share price fluctuations and force majeure events which are relevant to any investment in se
Slide 22: Appendix B: Key risks (cont.)
Appendix B: Key risks (cont.) Annual result Specific risks related to the Investment into Marble Capital Legal risk The investment will involve Navigator entering into a number of transaction documents. While the documents contain some protections in respect of certain historical liabilities for Mar
Slide 23: Appendix B: Key risks (cont.)
Appendix B: Key risks (cont.) Annual result Company specific risks Performance of Navigator’s results and future growth prospects are influenced by prevailing market conditions, including equity capital markets, credit markets and interest rates, and to a lesser investment extent, by broader macroec
Slide 24: Appendix B: Key risks (cont.)
Appendix B: Key risks (cont.) Annual result Company specific risks Operating systems Navigator relies on its internal risk management systems to manage the various risks which the business may be subject, these include but are not limited to the protection of and controls customer, employee, third p
Slide 25: Appendix C: Placement agreement key terms
Appendix C: Placement agreement key terms Annual result Navigator and the Lead Manager have entered into a Placement Agreement in relation to the Placement. Under the Placement Agreement, the Lead Manager will subscribe for (or procure subscribers for) Placement Shares offered under the Placement th
Slide 26: Appendix C: Placement agreement key terms (cont.)
Appendix C: Placement agreement key terms (cont.) Annual result ‒ Navigator withdraws the Placement or indicates it is unable or does not intend to issue the Placement Shares on the Issue Date specified in the Timetable (as may be amended in accordance with this Agreement); ‒ any event specified in
Slide 27: Appendix C: Placement agreement key terms (cont.)
Appendix C: Placement agreement key terms (cont.) Annual result ‒ hostilities not presently existing at the date of this Agreement commence (whether war has been declared or not) or a material escalation in existing hostilities occurs (whether war has been declared or not) involving any one or more
Slide 28: Appendix D: International offer restrictions
Appendix D: International offer restrictions Annual result This document does not constitute an offer of new ordinary shares ("New Shares") of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not
Slide 29: Appendix D: International offer restrictions (cont.)
Appendix D: International offer restrictions (cont.) Annual result Jurisdictions New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (the "FMC Act"). The New Shares are not being offered or sol
Slide 30: Importance Notices and Disclaimer
Importance Notices and Disclaimer This presentation has been prepared by Navigator Global Investments Limited (NGI) and provides information regarding NGI, its subsidiaries and their activities current as at 7 April 2022. It is in summary form and is not necessarily complete. It should be read in co
Slide 31: Importance Notices and Disclaimer (cont.)
Importance Notices and Disclaimer (cont.) NOT FINANCIAL PRODUCT ADVICE This presentation does not, and does not purport to, contain all information necessary to make an investment decision. Nothing in this presentation constitutes legal, financial, tax, accounting or other advice or any recommendati
Slide 32: Importance Notices and Disclaimer (cont.)
Importance Notices and Disclaimer (cont.) To the maximum extent permitted by law, the NGI Group, and their respective directors, officers, employees, agents and advisers and each Limited Party and any other person: ‒ expressly disclaims all liability and responsibility (including without limitation
Slide 33: Importance Notices and Disclaimer (cont.)
Importance Notices and Disclaimer (cont.) FORWARD-LOOKING STATEMENTS Certain statements in this presentation may constitute “forward-looking” statements. Forward Statements can be identified by the use of 'forward-looking' terminology, including, without limitation, the terms 'believes', 'estimates'
Navigator Global Investments — Investor Presentation (April 2022) on 6ix