FEBRUARY 2016 FIRM OVERVIEW A S X : PA C
Overview International multi-boutique asset management group with offices in the US, Australia and the UK 20 affiliated boutique managers focusing on a variety of private and public market strategies Differentiated partnership model creating perfect alignment with our affiliates: Permanent capital structure to avoid pressure of near-term liquidity events Bespoke investment structures tailored to the needs of our partner (instruments may include equity, preferred equity, contractual profit share arrangements, equity swaps) Extensive affiliate support: from strategic planning, to team building, compensation structuring, marketing and direct institutional sales we work to help them thoughtfully grow ASX: PAC // 2
Philosophy Our philosophy is centered on identifying exceptionally talented teams and helping them build sustainable investment businesses. WE BELIEVE: Sustained investment success results from a combination of superior investment skill and a strong, investment-centric culture Boutique investment firms can better sustain investment excellence A successful partnership is formed through identifying firms with exceptional investment talent and by providing strategic support to help those firms grow Investors will pay nothing for expected average performance (when average performance is nearly free), so value accrues disproportionately to teams who outperform over time Flexible capital is integral to long-term success ASX: PAC // 3
Partnership Our business is oriented towards growth, not towards control. We seek to amplify what s unique and distinctive about each of our affiliates. At our core, we see ourselves as partners to the companies in our portfolio, always looking to add value wherever possible. IDENTIFY We seek to identify exceptionally talented investors, with attractive business prospects that exhibit the character/ cultural attributes that are necessary to build and manage a successful investment business. PARTNER We work with managers to closely align interests by offering flexible deal structures and creative longterm capital. No two managers are alike, and our goal is to find the best structure for each individual manager addressing their unique goals to build stable and sustainable partnerships. GROW Our team has decades of experience building, working in, and selling to many of the largest institutional investors in the world. We take that experience and work holistically with our firms to design and in some cases implement the most effective growth strategies for them. ASX: PAC // 4
Value Creation As part of our partnership with portfolio companies, we believe one of the keys to our business model is our ability to support the growth of selected affiliated managers by leveraging our resources, relationships, and expertise. STRATEGIC Work with manager to identify key components of investment and business proposition Develop strategic business plan Map a clear vision for growth OPERATIONAL Constant engagement with manager to monitor financial, operational and risk management robustness Partner with manager to maximize efficiency across operational and administrative functions SALES & MARKETING Define key markets Assess market demand Develop positioning points Develop supporting materials and train team Employ the Solution Based Sales approach to systematically attack key markets (Institutional & Intermediary) Gather ongoing market intelligence to continuously refine story ASX: PAC // 5
Leadership Team Biographies TIM J. CARVER EXECUTIVE DIRECTOR / CEO As CEO and Managing Director of Pacific Current Group, Tim provides overall leadership and strategic vision to the Group. A co-founder of Northern Lights Capital Group (now Pacific Current Group), he has been involved in building the business for the past decade. Prior to co-founding Northern Lights, Tim was co-founder of Orca Bay Partners, a private equity firm focused on capitalizing boutique investment firms. While there, he led investments in four asset management firms including Parametric Portfolio Associates, Envestnet (NYSE: EN). Tim began his career at Morgan Stanley in their New York analyst program. He graduated with honors from Harvard College. PAUL R. GREENWOOD EXECUTIVE DIRECTOR / CIO As CIO of Pacific Current Group, Paul leads the growth efforts of the firm including global sourcing, investment and portfolio management teams. Paul was a co-founder Northern Lights Capital Group (now Pacific Current Group). Prior to Northern Lights, Paul served as director of US Equity for Russell Investment Group, where he managed a team of 20+ investment professionals who were responsible for all of Russell s US equity oriented portfolio management and research activities. He also served as a Russell spokesperson and authored many articles and research commentaries related to investment manager evaluation. Paul graduated from Washington State University and is a Chartered Financial Analyst. JOSEPH FERRAGINA FINANCE DIRECTOR / COO As COO and Finance Director of Pacific Current Group, Joseph is responsible for overseeing the firm s finance and accounting functions, as well as the due diligence of new opportunities and transaction execution. Prior to joining Treasury Group, Joseph held senior finance roles in property funds management over a 10 year period including Head of Finance at DBRREEF (now Dexus) and Chief Financial Officer of Ronin Property Group. Joe initially started his career in chartered accounting specialising in business services and taxation. DAVID GRISWOLD GENERAL COUNSEL / CCO As General Counsel and CCO of Pacific Current Group, David serves as the internal legal advisor on all major business dealings and transactions, and also oversees compliance and risk management for the firm. Prior to joining Pacific Current Group, David was General Counsel and CCO at Global Index Group, a start-up developing financial indexes for use in ETF s and similar products. Prior to Global Index Group, David spent 19+ years at Russell Investments as the firm s Associate General Counsel and Director of Global Regulatory policy. During his time at Russell, David represented a number of the firm s business lines, including aspects of the firm s 1940 Act mutual fund products, brokerage firms and Asia-Pacific offices. He graduated with a BA in Economics from the University of Washington and holds a JD from the University of Chicago. STEVE FORD MANAGING DIRECTOR, BUSINESS DEVELOPMENT As Managing Director of Business Development for Pacific Current Group, Steve leads our team for new business development and client service. In this capacity, Steve builds and manages our direct selling team as well as designing partnerships for distribution globally. Prior to joining Pacific Current Group, Steve was Vice President at Centennial Partners, where he was responsible for institutional sales and consultant relations efforts. Steve also held notable positions with Rydex Investments, Smith Barney, and Strong Investments. He graduated from Westminster College and is a CAIA charter holder. ASX: PAC // 6
Leadership Team Biographies (cont d.) STEPHEN BRAMLEY DIRECTOR, BUSINESS DEVELOPMENT AUSTRALIA Stephen Bramley is responsible for new business development, marketing and distribution in Australia/NZ in the institutional and wholesale market for the Company s boutique investment managers. He manages key relationships with asset consultants, research houses and fiduciary s responsible for investing on behalf of key stakeholders. Stephen has over 20 years of experience in the investment management industry working in institutional distribution roles with investment management firms MLC, Russell Investments, and more recently, Mercer Australia where he led their institutional sales team for 5 years. MIKE DALEY MANAGING DIRECTOR, INVESTMENTS As Managing Director of Investments for Pacific Current Group, Michael is primarily responsible for deal execution, manager evaluation, and product development. Michael also works closely with our affiliates to help them grow and build their businesses. In addition, he developed and leads the firm s seeding platform. Prior to joining Pacific Current Group, Michael was the Director of Product Development for Accessor Capital Management. While there, he facilitated the launch of new investment vehicles and designed a patent pending investment planning tool used by financial planners nation-wide. He graduated from University of Massachusetts. TRENT ERICKSON MANAGING DIRECTOR, PORTFOLIO OPERATIONS AND HUMAN CAPITAL As Managing Director of Portfolio Operations and Human Capital Development, Trent is responsible for growing and developing human capital within Pacific Current Group and at our portfolio companies. Trent works closely with Jack Swift (Operating Partner), as well as closely with the finance, legal, and investment teams in their interactions with our affiliates. Trent served as Chief Financial Officer at Northern Lights Capital Group (prior to merger with Pacific Current Group). Prior to joining Pacific Current Group, Trent worked for 12+ years at Deloitte, where he consulted on a variety of tax issues and serviced clients in the venture capital and private equity markets. Trent began his career in Washington, DC and assisted Senator Slade Gorton on commerce, transportation, and judiciary issues. He graduated from Pacific Lutheran University, and also holds a JD/LLM/MBA from University of Washington. JACK C. SWIFT OPERATING PARTNER As Operating Partner, Jack is responsible for building businesses and driving growth at our portfolio companies. Jack was a co-founder and Managing Director at Northern Lights Capital Group (now Pacific Current Group). Prior to Northern Lights, Jack was Managing Director and Head of Sales at Janus Capital Group (NYSE: JNS), where his team raised over $30B in three years. Prior to Janus, Jack led the sales efforts in the insurance and sub-advisory spaces for Berger Financial Group. Jack graduated from the United States Military Academy at Westpoint, and served in the US Army as an Airborne Ranger. ASX: PAC // 7
Affiliated Boutiques Firm Name Strategy Overview Location Aether Investment Partners Private equity real assets fund-of-funds US AlphaShares Chinese equity ETFs US Aperio Group Passive management, smart beta, tax management and SRI US Aubrey Capital Management Global, European, and emerging markets equity UK Blackcrane Capital Concentrated international & global equity strategies (all cap) US Celeste Fund Management Australian small cap equities AUS EAM Investors US, Non-US & emerging market small- and micro- cap equities US Freehold Investment Management Australian real estate investment trusts & unlisted properties AUS Goodhart Partners Investors Mutual Limited Japanese & emerging market equities Value focused Australian equities UK AUS Nereus Capital Private equity focused on renewable energy infrastructure INDIA Northern Lights Alternative Adviors Advisory and Private placement services UK Octis Multi-strategy Asian equities SINGAPORE Orion Asset Management Australian, global & emerging market equities AUS Rare Infrastructure Global listed infrastructure AUS, UK Raven Capital Management Private credit firm focused on asset-based lending US ROC Equity Partners Asia-pacific private equity AUS, HONG KONG Seizert Capital Partners Concentrated US core & value strategies US Strategic Capital Investors Hedge fund seeding and acceleration UK Tamro Capital Partners US & international small cap core equities US ASX: PAC // 8
Important Disclosures The information in this presentation is general background information about Pacific Current Group Limited and is current only at the date of this presentation. In particular, this presentation: is not an offer or recommendation to purchase or subscribe for securities in Pacific Current Group Limited, nor is it an invitation to any person to acquire securities in Pacific Current Group Limited; is not personal advice and does not take into account the potential and current individual investment objectives or the financial situation of investors; and contains information in summary form and does not purport to be complete. Certain statements in this presentation may constitute forward-looking statements. Forward-looking statements are neither promises nor guarantees and involve known and unknown risks, uncertainties and other factors which may cause actual results to vary materially from any projection, future results or performance expressed or implied by such forward-looking statements. ASX: PAC // 9