International fund awards 2014

2014

“This achievement is entirely due to the entrepreneurial professionals at ACWA Power who are committed to making a difference by pushing through preconceived barriers to deliver step change with a single minded focus on the company mission of reducing the cost of electricity and desalinated water.”

“There is no honour higher than being recognized by one’s peers. While the market that we operate in has provided us with a string of large opportunities on which we have been successful and thus we have routinely been recognized, just like we take no win as our right, we take no award for granted and are humbled and honoured.”

Paddy Padmanathan, President and CEO of ACWA Power

“We believe our success in 2013 came from the fact that we kept focusing on our central administration core business instead of extending our product range to new features benefiting from AIFMD opportunities (i.e., depositary or AIFM upgrade). We are keen to assist foreign AIFMs coming to set up their products/funds in Luxembourg but who do not have a foot on the ground here.

Jan Vanhoutte, Managing Director of Vistra Fund Services

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Welcome to the Acquisition International Fund Awards 2014 As economies worldwide continue to emerge from and strengthen following one of the most far-reaching financial downturns in recent times, we’re turning the spotlight on the funds industry professionals and insiders who have worked so tirelessly over the past 12 months to ensure success for them and their clients in what is a challenging and ever-evolving market.

The International Fund Awards 2014, sponsored by AI Global Media and Acquisition International Magazine, are dedicated to highlighting and rewarding individuals and businesses within Private Equity, Venture Capital, Infrastructure and Real Estate and recognise not only fund performance, but also the companies, departments and people behind the scenes who play such a massive role in successfully forming, managing and advising on funds in the current market.

These prestigious awards are given out on merit alone and are only awarded to those most deserving due to their outstanding work over the last 12 months. Our awards recognise leaders in their respective fields who are, crucially, nominated by their clients, professional relationships and their peers and are a true barometer of the individuals and organisations who are doing most to shape and bring outstanding success to the international funds industry.

Read on to find out who made the cut and discover exactly what it takes to be an Acquisition International award winner.

ACWA Power International

Vistra (Luxembourg) S.a r.l.

Energy Investment Firm of the Year - Saudi Arabia Page 4

Fund Formation & Administration Firm of the Year - Luxembourg Page 10

Alpine Equity Management

CVC Capital Partners

Private Equity Firm of the Year - Austria Page 12

Private Equity Firm of the Year - Luxembourg Page 15

Golub Capital

QIC

Credit Asset Management Firm of the Year - USA Page 16

Global Infrastructure Firm of the Year – Australia Page 18

Trotman Taxation Services

Quadriga Capital Private Equity

Expatriate Tax Firm of the Year - UK Page 20

Private Equity Investment Firm of the Year - Germany Page 22

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Energy Investment Firm of the Year

ACWA Power Paddy Padmanathan is President and CEO of ACWA Power. The firm was recently awarded Energy Investment Firm of the Year 2014, and Paddy speaks to us about the firm, the sector and how to ensure its continued success.

ACWA Power is a developer, investor, co-owner and operator of a portfolio of assets that produces 15,500MW of power and 2.45 Million m3/day of desalinated water with an investment value in excess of USD 23.5 billion and providing direct employment to more than 2,300 people. From its hub in Saudi Arabia, ACWA Power has expanded throughout the GCC region and into Jordan.

Recent opportunities and new assets have increased the company’s operational reach to include Egypt, Turkey, Morocco, four countries in Southern Africa and Bulgaria.

ACWA Power’s business model is to produce and sell bulk electricity and water to credit worthy customers on long term contracts by developing or acquiring and operating and maintaining electricity generation and desalinated water producing plants. A complete team of multidisciplinary professionals at ACWA Power pursue its winning strategy of consistently selecting the optimal technical solution, partnering with the most efficient engineering, procurement and construction (EPC) service provider; implementing an optimum operation and maintenance strategy; and formulating business cases to structure the most competitive equity and debt financing. These core functions have the primary objective of delivering ACWA Power’s mission of reliably delivering electricity and desalinated water at the lowest possible cost to customers in the company’s target markets.

The current portfolio of 17 plants deliver 14% of power and 40% of desalinated water consumed in Saudi Arabia, 12% of power and 17% water consumed in Oman and 59% of power consumed in Jordan. The portfolio includes a 60MWp photovoltaic power plant in Karadzhalovo, Bulgaria and the world’s only two seaworthy barge mounted, self-contained desalination plants each capable of producing 25,000 m³/day of water currently operating at Yanbu in Saudi Arabia. In addition; 6,000 MW of new generation capacity is under construction in Saudi Arabia; 50 MW Concentrated Solar Power (CSP) plant at Bokpoort, South Africa, another 160 MW CSP plant at Ouarzzate at Morocco and a 45,460 m³/day Reverse Osmosis desalinated water production plant at Barka in Oman and an 835 MW power plant is at an advanced stage of development in Turkey.

Fact File

As an operator at heart, ACWA Power wholly owns the First National Operation and Maintenance Company (NOMAC) estab-

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lished in 2005 which is the leading independent operations and maintenance (O&M) services provider for the power and desalination industry in Saudi Arabia. NOMAC has 800 employees and is responsible for the operation and maintenance of a portfolio of over 10,000 MW of power generation and 2.2 Million m³/day of desalinated water.

The distinguishing differentiator that has set apart ACWA Power is the relentless focus on the company’s mission “to reliably provide electricity and desalinated water at the lowest possible cost in the countries we elect to operate in”. The company has consistently delivered this mission by entering into long term contracts which are typically 20 per cent lower and hence significantly better in value than the next competitor.

In the most recent example for the world’s largest Concentrated Solar Power Plant at Ouarzazate in Morocco, ACWA Power delivered a new international benchmark and price level for CSP generated power at US$ 18.9 cents per kWh. This price was 29% lower than the second bid of US$ 24.9 cents and way below the previous lowest international cost of € 30 cents per kWh. Another example is a 4000 MW Combined Cycle gas fired power plant in the Kingdom of Saudi Arabia which is the largest Independent Power Plant in the world contracted at a tariff that was 16% lower than the second bid.

Paddy Padmanathan Mr. Padmanathan, a professional Civil Engineer with over 30 years of experience has served ACWA Power from 2005 as the company grew from a start-up to where it is today.

While ACWA Power is focused on reliably delivering electricity and desalinated water at the lowest possible cost and is thus technology neutral and fuel agnostic, the company is also very active in the area of renewable energy; the most noteworthy efforts being the 160MW Concentrated Solar Power (CSP) plant at Morocco with 3 hours of storage where the company delivered an ultra-competitive tariff of 18.9 US Cents/kWh and a 100MW PV plant offer in Saudi Arabia a tariff of 12 US Cents/kWh.

Company: ACWA Power Name: Paddy Padmanathan – President & CEO Web Address: www.acwapower.com Telephone: +966 11 283 55 11

“There is no honour higher than being recognized by one’s peers. While the market that we operate in has provided us with a string of large opportunities on which we have been successful and thus we have routinely been recognized”

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A graduate of University of Manchester, UK, Mr. Padmanathan started his career as a consulting engineer delivering infrastructure projects and moved on to develop privately financed power, water and wastewater projects. A substantial period of his career before ACWA Power was with Black & Veatch where he served as a Vice President and Corporate officer.

He also serves on the board of directors of several companies all operating in the water and power sectors.

Energy Investment Firm of the Year 2014 Recently, ACWA Power was awarded Energy Investment Firm of the Year 2014, a prestigious accolade as voted by the readers of Acquisition International magazine. The award is a clear recognition of ACWA Power, and in particular Paddy’s, ingenuity and entrepreneurship.

Paddy explains further what he believes to be the key to the firm’s overwhelming success.

“Relentless focus on the mission to reliably deliver electricity and water at the lowest possible cost by firmly adhering to our core values of Ingenuity, Rigor, Diversity, Fairness and Integrity all with the mind-set of redefining boundaries,” he states, enthusiastically.

“As lead developers, ACWA Power takes on the responsibility and management of selecting the optimum technical solution for each specific project, structuring the business case, arranging finance, co-invest capital, managing the construction of the plant which is then operated and maintained by NOMAC to deliver electricity and water. The company can only fulfil its mission if it is also able to convince all the members of the supply chain to not market price their respective inputs but to contribute to the lowest possible cost. By cultivating a mutually supportive trust based partnership across the entire supply chain on each and every project spanning from technology providers, engineering, procurement and construction contractors, the equity investors who co-invest, debt finance providers, insurance service providers and a vast array of consultants and advisors, ACWA Power has consistently delivered on this challenge and its mission.”

“This achievement is entirely due to the entrepreneurial professionals at ACWA Power who are committed to making a difference by pushing through preconceived barriers to deliver step change with a single minded focus on the company mission of reducing the cost of electricity and desalinated water.”

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“This achievement is entirely due to the entrepreneurial professionals at ACWA Power who are committed to making a difference by pushing through preconceived barriers to deliver step change with a single minded focus on the company mission of reducing the cost of electricity and desalinated water.� www.acquisition-intl.com

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Indeed, Paddy’s reaction to winning the award was one of sheer delight, as he modestly says: “There is no honour higher than being recognized by one’s peers. While the market that we operate in has provided us with a string of large opportunities on which we have been successful and thus we have routinely been recognized, just like we take no win as our right, we take no award for granted and are humbled and honoured.”

The award is clear validation of ACWA Power and Paddy’s approach to business and its employee culture, and Paddy pro-actively strives to develop the organisation and his team within it.

“We recruit superior professionals to work in a collaborative environment,” he says. “They are rewarded with exciting work, operating freedom, respect and trust and an industry leading reward structure to work with full transparency and without being afraid of making mistakes but learning from experience and constantly challenge boundaries.”

The energy sector Leaving the award to one side, Paddy begins to describe the current business environment in the energy sector.

“The Energy industry is an exciting place to be today,” he enthuses. “Not only are we embracing a broader range of fuels beyond the traditional focus on oil, gas and coal in generating electricity, but we are also at the cusp of changing the way we use energy which will inevitably change the way we live. The integration of big data with electricity, the ability for data and electrons to run down the same single wire in a big scale and the ability to generate electricity on your roof top and your mobile vehicle will all transform our lives within a decade. So it is a rapidly changing business environment with lots of possibilities.”

“Closer to home, in the markets we are blessed to operate in, demand is growing at 6 to 8% year on year; governments are increasingly relying on the private sector to cater for this growth and the focus is on increasing efficiency and in reducing cost. ACWA Power is simply in the right place doing the right thing at the right time!”

but resource constrained European neighbours across the Mediterranean.

“More importantly ACWA Power has been leading the conversation on renewable energy by demonstrating that this energy is today cost competitive even in the oil capital of the world, Saudi Arabia.

In January 2013, in response to the first ever utility scale renewable energy tender launched in the Kingdom of Saudi Arabia; in this instance by the Municipality of Mecca, the company offered the lowest tariff for photovoltaic energy of US$ 12 cents per kWh. To deliver this price using oil as fuel, one would need to provide 3,400 barrel of oil each and every day for the next 25 years at a price of US$44 per barrel; a massive subsidy when compared to the world market oil price of US$90-110 per barrel. Indeed the Kingdom has recognized the role renewable energy can play in the fuel mix used in the Kingdom to produce electricity and desalinated water and has recently embarked on a fundamental and monumental shift in its domestic energy policy which is now well publicized.”

“ACWA Power is also tackling the second step of reducing carbon emissions by increasing the efficiency of fossil fuel conversion and thermal power generation and hence reducing the carbon intensity of electricity and water production (CO2/KWh and CO2/m3).

The gas fired combined cycle 4,000MW plant at Qurayyah in Saudi Arabia has a world class performance of 390g CO2/KWh which is exceptional. But then we beat that to reduce carbon intensity by a further 7.2% at Rabigh 2 IPP a 2000 MW gas fired combined cycle power plant that has just gone into construction which will emit only 359 g CO2/KWh; a significant 472,000 Million LESS Tons of CO2 per year when compared with equivalent Electrical Energy production of Qurrayah plant, all the while using 8.8% less gas.”

Recent achievements ACWA Power has already brought on line and is operating the largest Desalination plant complex in the world at Shuaibah in Saudi Arabia, delivering over 1 million cubic meter per day of water. It is also well advanced with construction of the largest privately-financed power plant in the world at Quraayah, also in Saudi Arabia.

“Quite apart from this, the financial sector is in the middle of a major transformation as a result of the near total collapse that sector is emerging from which has a direct impact on our industry as we are a significant user of capital. To deliver electricity and desalinated water, we need to invest Billions of Dollars of capital up front and collect it back as cents per kilo watt hour of energy or cubic meter of water over 20 to 30 years of operating life of the plant. Access to debt and capital markets of the world is of critical importance and the current rethinking on capital adequacy ratios for banks, a more rigorous approach to matching assets and liabilities by financial institutions and indeed a rethink on risk and reward balance will all impose significant challenges for long tenor funding but this in turn is the opening opportunities for ingenuity and innovation.”

There are emerging trends within the energy space which Paddy has noticed recently. Here, he discusses what they are and how they impact on business and the firm.

“In Power generation (and desalinated water production) the focus for all is to reduce carbon intensity, diversify the fuel mix and increase efficiency of fuel utilisation. ACWA Power has been proactively leading by delivering to this agenda. ACWA Power is avoiding emissions by fast tracking the development of our renewables portfolio and by supporting regional endeavours such as the Desertec Industrial Initiative which is creating the environment to facilitate the generation of renewable energy in the MENA region not only for domestic consumption but for export to power hungry

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Paddy tells us more: “The 4,000MW gas-fired power plant is, without a doubt, one of the most interesting projects the company has embarked on in 2013, along with the 160 MW concentrated solar power (CSP) plant with three hours of storage at Ouarzzate in Morocco, one of the largest of such plant being contemplated in the world with this technology. Then there is the 50 MW CSP plant with nine hours storage at Bokpoort, South Africa, the longest duration of solar power storage of such capacity being considered in the world; both of which are now in construction.”

“Continuing to expand human resource capacity and focusing on ever improving operational capability, ACWA Power is well on the way to delivering its target of co-owning and operating a portfolio of assets to generate 39,000MW of power and produce 5 Million m3/day of desalinated water by 2018 and to be generating 10% of its electricity with renewable energy while maintaining the focus on reliably producing electricity and desalinated water at the lowest possible cost.”

That’s quite an impressive range of assets, and Paddy plans to maintain ACWA Power’s growth and to remain competitive in the ever-evolving global economy with an aggressive growth strategy.

Namely, by continuing to build an organisation that performs at a superior level by attracting and retaining extraordinary people who are committed to the firm’s mission and share its core values.

He continues to discuss the changes in structure and core service offerings which the firm has experienced over the years.

“Within nine years we have grown from establishing a business in Riyadh, Saudi Arabia employing the first person to a company that operates in 8 countries and employs 2400 people. While the structure of the organisation has evolved over time to manage the risks we take and to retain efficiency of operation, we have carefully continued to nurture the important principles of empowering our people by trusting them, giving them operating freedom and encourage entrepreneurship and innovation without fear of failure. We have no reason to change any of our principles or our business model or our core offering, that of reliably producing electricity and water at the lowest possible cost in the countries we elect to operate.”

Staying one step ahead In such a competitive industry it is important that a company such as ACWA Power does not rest on its laurels, and ensures that it differentiates enough from sector rivals that it retains its clients.

“We have established an unblemished track record of development and of operation and maintenance, of managing the construction of multibillion dollar capital projects on time and within budget and reliably delivering electricity and desalinated water by operating and maintaining the plants to optimum performance. By questioning relentlessly every element of cost that goes into a tariff, we have managed to deliver electricity and desalinated water at a tariff 20% lower than competitors time and time again. By paying more attention to detail in the planning and development stage, we do things cheaper, we do them better, and give our customers value for money.

“The ‘can do’ attitude, coupled with never doing something only because it has been done in that way before, but challenging the boundaries without the fear of failure but with the confidence that rigor, ethical behaviour, transparency and reliance on a team work that will never let you down is what delivers extraordinary results.”

Today, tomorrow and the future Although it may now be reaping the rewards, it has not all been plain sailing for Paddy and ACWA Power. Paddy embellishes on the extent of hard work put in by employees, as well as the challenges facing the company which have been met head on.

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“There are always challenges,” he sighs. “But we deal with these by delivering consistently on the challenge of reliably producing electricity and water at the lowest possible cost; ACWA Power is leading the focus on sustainability which in turn means not only efficiency of resource utilization but also the creation of domestic human and industrial resource capacity” “Given that we are in the utility business which by definition means we invest large sums of money upfront and get it back over 20 to 25 years; the health, wealth and happiness of the countries we invest in and the communities we serve are of paramount importance to us. ACWA Power therefore goes out of its way to maximize value retention in the countries and communities in all that we do from getting plants built with maximum local content to operating and maintaining plants with local staff and local supply chain and by actively contributing to the development of local communities.”

To ensure sustainability, ACWA Power also focusses on expanding and nurturing domestic human resource capacity particularly in the area of power and desal water plant operation and maintenance technical capability so that sufficient local capability can be ensured with a target to eliminate the dependence on expatriate skills. Specific initiatives include the establishment in 2009 of the Higher Institute of Water and Power Technologies (HIWPT) to train local high school graduates as power and desalination operators and technicians located in Rabigh, Saudi Arabia which is already delivering training to more than 600 people who are employed and sponsored by ten sector partners and the construction skill development academy we are planning in Mozambique to train welders and electrical and mechanical fitters and the collaborative research program we are co funding at Rabat University to originate some renewable energy technology at Morocco focused on desalination.

“Looking forward, only change will be a constant in our industry. The way we generate electricity, the systems we will use to transmit and distribute that electricity and the manner in which we then utilize that electricity will all change in the next decade. We believe the transformation will be faster than we all think today. It will offer lots of opportunity for innovation and entrepreneurship.

It will reward those who are not afraid of change but those who thrive on it.”

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Fund Formation & Administration Firm of the Year - Luxembourg

Vistra Fund Services, Luxembourg Jan Vanhoutte is Managing Director of Vistra Fund Services, Luxembourg. Jan speaks to Al magazine about the funds environment in Luxembourg.

Vistra Fund Services is the fund administration and fund formation division of the Vistra Group, a leading global provider of corporate, fund administration and outsourcing services. Vistra has 30 offices in 21 jurisdictions with specialist fund teams based in Jersey, Luxembourg and Hong Kong.

Managing Director of Vistra Fund Services Luxembourg, Jan Vanhoutte explains more about the firm.

“Our teams establish and administer a wide range of different types of funds, and work with our clients and their advisors to establish a structure that is most suitable to their needs.

“As an independent service provider our role is to provide our clients with ‘virtual’ middle and back offices and any relating infrastructure, so that they can concentrate on what they do best: managing an investment vehicle.”

Recently, Vistra was given a 2014 International Fund award for its outstanding contribution to the fund industry and to its clients during the year 2013. Jan comments on what he believes is key to the firm’s success.

“We believe our success in 2013 came from the fact that we kept focusing on our central administration core business instead of extending our product range to new features benefiting from AIFMD opportunities (i.e., depositary or AIFM upgrade). We are keen to assist foreign AIFMs coming to set up their products/funds in Luxembourg but who do not have a foot on the ground here.”

Jan also gives the nod to his impressive team, who he firmly believes are imperative to Vistra’s continuing success, as well as its retention of its clientele.

“We are client centric and offer solutions to our small and medium sized clients allowing them to set up their own funds despite the challenging regulatory pressure.”

The fund industry in 2013, although successful for Jan and Vistra, was not without its challenges.

“AIFMD and regulatory approvals were slowed down as the regulator and professionals were and still are digesting the regulatory upgrades to be performed,” explains Jan. He also comments on the emerging trends he noticed within the industry, such as real estate and private equity experiencing an uptick and becoming active again. “We also saw a decreasing interest on funds investing in passion/tangible assets (eg watches, art pieces, etc…).”

With regards to the future, Jan believes that 2014 will be a strong and productive year, both for Vistra and for Luxembourg.

“AIFMD represents a good opportunity for Luxembourg although it comes with a lot of additional costs for the asset managers and their end investors. Luxembourg’s fund industry will have to build a brand like UCITS to fully benefit from this directive.”

Indeed one of the greatest successes experienced by Jan and his team was the development of its client base despite the difficult market conditions and market hesitance towards the regulatory changes.

Fact File

“We ensure each fund has a dedicated administration team who is responsible for the ongoing relationship with the client, understanding all aspects of the fund throughout its lifecycle,” he states.

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Company: Vistra Fund Services Name: Jan Vanhoutte Email: jan.vanhoutte@vistra.com Web Address: www.vistrafundservices.com Address: 15, Rue Edward Steichen L-2540 Luxembourg Telephone: 00352 422 229 1

“We believe our success in 2013 came from the fact that we kept focusing on our central administration core business instead of extending our product range to new features benefiting from AIFMD opportunities (i.e., depositary or AIFM upgrade).

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The impressive red bridge in Luxembourg city

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Private Equity Firm of the Year - Austria

Alpine Equity Management Alpine Equity Management AG (‘Alpine Equity’) is a management company which manages Hypo Equity Unternehmensbeteiligungen AG (‘HUBAG’).

HUBAG is a Private Equity company for established small and medium enterprises (SMEs) and invests capital for growth, funds management buy-outs and special opportunities. Alpine Equity supports companies throughout their lifecycle with know-how.

Since its foundation in 1999, Alpine Equity has built up a high-quality portfolio of dynamic enterprises in sectors of the market with a promising future. “We pride ourselves on the successful and long-term partnerships which we have built with our clients and consider this personal interest as a key differentiator of Alpine Equity compared with other equity institutions.” said Omer Rehman, partner at Alpine Equity. With around 15 portfolio companies and an investment volume of roughly € 100 million (HUBAG), Alpine Equity is one of the leading Private Equity companies in Austria.

Alpine Equity invests equity or equity mezzanine in fast growing companies, management buyouts, and is flexible to capture value from special opportunities, such as turnarounds or succession plans in small and medium sized businesses in Austria.

1999 Hypo Equity Management AG was founded in 1999 by Dr. Harald Pöttinger.

As a private equity company, Hypo Equity provides alternative forms of capital for growing small and medium sized companies in the German-speaking countries.

Solid shareholders include regional banks such as Hypo Landesbank Vorarlberg and Hypo Tirol Bank AG, as well as leading insurance companies. During this period, Hypo Equity significantly led the development and internationalization of its portfolio companies to harvest significant increases in growth rates and value.

2000-2002 In 2000 Hypo Equity acquired among others a significant stake in the packaging company Pachem GmbH & Co KG (Austria) and provided the business with growth capital for further international expansion. Two years later, Hypo Equity invested in the Austrian bio-technology company Innovacell together with other financial sponsors.

Fact File

2003 Hypo Equity took among others a share in the dental specialist Amann Dental GmbH (Austria) in 2003. A year after Amann was merged with the German company Girrbach Dental GmbH. Within

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a short period of time the newly merged AmannGirrbach significantly increased its market share and today successfully sells innovative CAD/CAM products in the healthcare marketplace.

2005 A.M.I. Agency for Medical Innovations GmbH, a med-tec company based in Austria was sold in 2005. Through the funding of the Viennese Athena private equity company, in which Hypo Equity has a stake, A.M.I. could establish an international distribution network and implement R&D processes to introduce new treatment methods.

2006 Dr. Omer Rehman joined the board of directors of Hypo Equity in February 2006. Harald Pöttinger and Omer Rehman accelerate the further expansion as an equity provider for SME´s in Austria as well as in other German speaking countries. Since 2008, Omer Rehman represents the interests of the risk capital market in Austria as a board member of the Austrian Venture Capital and Private Equity Organisation (AVCO) and is particular engaged in the promotion of stronger interconnections of the Austrian private equity scene with Switzerland and Germany.

2007 – today In December 2007, Hypo Equity took a stake in Feintechnik GmbH Eisfeld.

With a production volume above one billion blades per year, the company is among the largest private label razor system manufacturers worldwide. Furthermore in 2009, Hypo Equity financed the re-launch of the Austrian consumer electronics store chain Niedermeyer. Equity and mezzanine was provided for repositioning and restructuring.

2010 Hypo Landesbank Vorarlberg sold its stake in Hypo Equity Management AG. After this management buyout the company is solely owned by the management represented

by Harald Pöttinger and Omer Rehman. In October 2010, Hypo Equity was rebranded in Alpine Equity and manages the investment vehicle HUBAG. Alpine Equity Management AG Bahnhofstraße 14 A-6900 Bregenz Tel.: +43 5574 47192-0 Fax: +43 5574 47192-599 office@alpineequity.at www.alpineequity.at

Alpine Equity delivers growth ambitions by offering experienced, guiding hand, at each stage of a company’s investment cycle, steering a credible pathway through operational and strategic challenges to success.

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Alpine’s Investment approach The investment vehicle HUBAG is structured as an evergreen fund which means that HUBAG is lacking a time pressure to exit their companies just because the fund is due. The evergreen structure supports sustainable and profitable growth, which leads to maximum value creation.

Alpine Equity delivers growth ambitions by offering experienced, guiding hand, at each stage of a company’s investment cycle, steering a credible pathway through operational and strategic challenges to success.

HUBAG is typically invested for three to eight years prior to exercising an exit. Growing companies often face a significant need for financing.

Ambitions, such as internationalization, product innovation or simply delivering a business to the next level, requires a demonstrated, trusted partner to provide the capital and advice partnership that meets needs. Sometimes, capital requirements cannot be

met by traditional financial institutions; this is where private equity sponsors such as Alpine Equity (HUBAG) can help. Furthermore, having the benefit of a partner versed in an ever changing environment, can help make the difference in overcoming obstacles to growth as part of a holistic approach.

Alpine Equity (HUBAG) invests both a medium- to long-term basis, into small and medium-sized companies. These companies typically show above average growth potential. Their entrepreneurial spirit is one way Alpine Equity differentiates itself from other equity providers.

The Deal In January of this year Alpine Equity advised HUBAG in the divestment of razor blades manufacturer, Feintechnik GmbH Eisfeld, a 93-year-old German manufacturer of razor blades, to ADKM, owner of Harry’s. Harry’s is a men’s grooming brand servicing the US market and headquartered in New York, NY. Harry’s has worked with Feintechnik since its inception nearly a year ago.

Feintechnik is located in Eisfeld, Germany. Founded in 1920, the company has nearly a century of experience crafting some of the world’s finest razor blades.

“We are pleased to complete the sale of Feintechnik to Harry’s,” said Omer Rehman, Partner at Alpine Equity. “Feintechnik is an attractive company, and we have no doubt that Harry’s will help usher it into the next phase of growth.” In total, the Feintechnik deal was highly successful for Alpine Equity (HUBAG) as were other exits, like that of AmannGirrbach or Pachem.

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Doherty Advisors, LLC Doherty Advisors, LLC was founded and registered as a CTA/CPO in 2003 in New York and specializes in options trading in liquid exchange traded markets. The firm’s mantra is attractive and consistent risk-adjusted absolute returns.

Our six person team has over 100+ years of options trading experience. Currently managing upward of $300 million, we offer three programs: • Relative Value (RV) - an absolute return market-neutral strategy • Grey Swan (GS) - an equity tail risk hedge • Relative Value Plus (RVP) - a hybrid of the RV and GS, which makes it a protection and return strategy.

The flagship Relative Value options strategy trades the slope of volatility skews. Its focus is short-term, agnostic to market direction, minimal “greek” exposure”. It trades highly liquid instruments.

Mr. Robert Doherty, the CIO, since the start of his career focused on generating low risk, consistent returns by pursuing relative value opportunities in options trading. His approach is one of melding together science and art. The alpha comes from his vast experience (25+ years) in options trading. He is proud to have achieved a Sharpe Ratio of over 1.00 for a 10 year long track record. By structuring a series of highly correlated positions with derivatives and futures contracts, the portfolio manager is able to exploit pricing inefficiencies often created by natural sellers or hedgers.

Whilst being agnostic to the direction of volatility and underlying markets, we use discretionary strategy together with math to make sound relative value decisions.

400 Madison Avenue, Suite 6A, New York, NY 10017 t: +1 646 213 2310 f: +1 212 213 9170

E: ir@dohertyadvisors.com

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Private Equity Firm of the Year - Luxembourg

CVC Capital Partners CVC Capital Partners (‘CVC’) is one of the world’s leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 20 offices and over 300 employees throughout Europe, Asia and US.

Currently, CVC manages funds on behalf of over 300 investors from North America, Europe, Asia and the Middle East, who entrust their capital to CVC for periods of 10 years or more. Raised from pension funds, financial institutions and various other partners, CVC funds seek to identify attractive investments and develop sustainable, long-term value in close partnership with management teams. To date, CVC has secured commitments of US$66 billion in funds from a diverse and loyal investor base across European and Asia private equity funds and credit funds. CVC has completed over 300 investments in a wide range of industries and countries across the globe, with an aggregate enterprise purchase value of approximately US$120 billion.

Today, CVC funds have stakes in more than 55 companies worldwide, employing around 400,000 people in numerous countries.

Together, these companies have combined annual sales of approximately US$120 billion.

Fact File

The beautiful medieval castle in Vianden, a small village in Luxembourg

CVC Capital Partners 111 Strand, London WC2R 0AG Switchboard: +44 (0) 20 7420 4200 Web: www.cvc.com

CVC Capital Partners (‘CVC’) is one of the world’s leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 20 offices and over 300 employees throughout Europe, Asia and US.

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Credit Asset Management Firm of the Year - USA

Golub Capital David Golub is President of Golub Capital, a $10 billion credit asset manager with an award-winning middle market lending business.

Mr. Golub, please introduce our readers to Golub Capital Golub Capital specializes in credit-oriented investing through three complementary business lines. Our Middle Market Lending team focuses on senior, one-stop and mezzanine debt loans to U.S. middle market companies. Our Broadly Syndicated Loan group invests in loans to larger companies where the loans are generally liquid in the secondary market. Our Opportunistic Credit team targets dislocations in liquid and illiquid markets that offer compelling risk-reward profiles. Each of our strategies is supported by an exceptional team of credit professionals with deep industry knowledge and experience. We are celebrating our 20th anniversary this year, and are proud of the long-term, win-win partnerships we have cultivated with our private equity sponsor clients, our lenders, and our obligors.

What do you mean by long-term, win-win partnerships?

At Golub Capital, we believe the firm exists to help our clients succeed. We provide our private equity partners with lending solutions that deliver tangible advantages for them and their companies. We constantly ask ourselves what we would want if we were in the position of our business partners, and we benchmark ourselves against that standard.

How has Golub Capital maintained its extraordinary record of reliability?

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We do not take our reputation as the “go to” partner in middle market lending for granted, but work constantly to earn it. As we have grown, our capacity to deliver innovative, reliable solutions for our clients has also increased. We have long offered one of the broadest product suites in the industry; now we are able to hold up to $250 million of financing per transaction. Knowing this, our sponsor clients never have to worry about an inability to close, a pricing change in the eleventh hour, or an uncooperative syndicate member.

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The financial crisis caused many middle market lenders to scale back their commitments or fail entirely—yet Golub Capital remained open for business. How did you manage to thrive in such a challenging period?

We built our business for resilience even in the most difficult market conditions. For example, our underwriting focuses on companies that we believe are unlikely to run into trouble, and that are also likely to protect our investment even if they do. These tend to be recession-resistant businesses that would have multiple exit options even in an adverse scenario. As another example, our capital comes from diverse sources that are permanent or structured for long-term investment. We are already preparing for the next downturn—we plan to be ready to deliver advantage to our clients when others may be struggling.

How do Golub Capital’s strong long-term relationships with leading sponsors translate into advantages?

Our strong relationships enable us to focus on the deals where we see the best balance of risk and return potential. Over 150 leading private equity firms have done at least one debt financing with us, so we receive many “first looks” and “last looks” by virtue of these relationships. The volume of deals we are shown from world-class sponsors—more than 2,000 last year—provide us ample opportunities from which to choose.

And there is a virtuous cycle once Golub Capital is the lender to a company that passes muster for underwriting.

Exactly. As the lender to over 160 high-quality middle market companies, we are in the pole position to meet these companies’ financing needs as they grow. These relationships translate into attractive proprietary deal flow.

Golub Capital David Golub 666 Fifth Avenue, 18th Floor New York, New York 10103 212.750.6060 (phone) 212.750.3756 (fax) www.golubcapital.com

At Golub Capital, we believe the firm exists to help our clients succeed.

We provide our private equity partners with lending solutions that deliver tangible advantages for them and their companies.

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How does middle market debt compare to other traditional fixed income investments?

In today’s environment of torturously low yields and unprecedented central bank intervention, we see the balance of risk and return in traditional fixed income to be strongly skewed to the downside. Middle market loans, by contrast, are designed to offer attractive returns with less exposure to interest rate risk and credit risk than many traditional strategies. Interest rate risk is limited by the floating-rate pricing on middle market loans, often accompanied by interest rate floors that provide yield even in a low-rate environment. Credit risk is limited by the loans’ seniority in the capital structure, the covenants in the loan documents, and the lender’s expertise at selecting resilient companies. Throughout our history, we have been able to deliver a combination of yield and safety that is difficult to replicate in public debt markets.

What is your outlook for 2014?

We are excited about our opportunity set. Given our market leadership, our people, and our processes, we think we are particularly well-positioned for continued excellence.

Certain statements herein constitute forward-looking statements, which relate to future events, future performance or financial condition, and are subject to change for any reason.

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18 | 2014 International Fund Awards

Global Infrastructure Firm of the Year – Australia

QIC Ross Israel is Head of Global Infrastructure at QIC. He talks to AI magazine about the economic environment in the funds industry in Australia, and how it felt to win an award.

QIC was established in 1991 by the Queensland Government to serve its long term investment responsibilities. It has grown into a global diversified alternatives business with over A$77bn in funds under management.* QIC’s team of 21 high-conviction infrastructure experts is led by partners with an average of 20 years’ experience behind them.

Queensland is one of Australia’s largest states and the Queensland Government created QIC in 1991 to serve its long-term investment responsibilities. QIC’s team of 21 high-conviction infrastructure experts is led by partners with an average of 20 years’ experience behind them.

Head of Global Infrastructure at QIC, Ross Israel, explains a little more about the firm. “We manage A$11.2bn of infrastructure assets across 24 global investments. The portfolio has protected clients’ capital while delivering strong IRR since inception eight years ago.”

Recently, Ross and the QIC team were nominated for a 2014 International Fund Award and voted winners by Acquisition international readers. The award is clear recognition of the firm’s outstanding contribution to the fund industry and Ross tells us what he attributes this success to.

“Stemming from our heritage as an investment firm created by our shareholder, we have an unusually strong client mind-set. We are not asset gatherers, rather portfolio managers focussing on adding value to the businesses we buy through human capital as well as investment capital.

“We focus on brownfield infrastructure projects (core/core plus) in OECD countries. Sector specialisation is a feature with Transport, Utilities and Public Private Partnerships especially strong areas of expertise.

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“In contrast with a world of frequent change, the leadership of our infrastructure team has remained remarkably stable. The founders of QIC’s infrastructure business continue to drive the investment process and foster a team culture of collaboration, shared values and intense client commitment. In-depth sector expertise

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and industry knowledge across multiple regions and regulatory environments defines the team.”

* data as at 31 March 2014

QIC’s expertise, commitment to client services and its ability to respond to changes in financial needs has enabled the firm to thrive in recently challenging markets. Ross explains: “Two examples stand out. Our emphasis on value and long-termism gave us the conviction to continue to invest in quality infrastructure companies in the wake of the 2008 global financial crisis, including two major acquisitions and opportunistic subordinated debt in 2009.

“The second derives from our deep sector specialisation. We have been prepared to go beyond the well-worn path of toll roads, airports, ports and utilities to access new infrastructure sub-sectors.

“One example is in the car-parking arena represented by QIC’s September 2012 acquisition of Ohio State University car parking on a 50 year concession.”

Recent economic turbulence has meant that the firm has had to adapt slightly.

“We have deep conviction in our investment process and philosophy, and its stress on looking for opportunity in infrastructure categories that remain largely undiscovered,” says Ross. “We believe that our five key themes to finding value are sustainable across varying economic cycles: • Event driven: Off-market opportunities or where there is limited competition • Bilateral transactions with governments: Dialogue with governments to develop innovative solutions for public infrastructure needs.

• Industry thematics: Sector specialisation around value and cash flow drivers of complex assets and nascent sub-sectors.

• Business plan and operational strategy: Utilise our expertise to transition businesses from public to private ownership.

• Unlocking option value in existing assets: Leverage synergies in existing assets to acquire adjacent assets and/or pursue value enhancing expansions.”

Company: QIC Name: Ross Israel Email: r.israel@qic.com Web Address: www.qic.com.au Address: Level 5, Central Plaza Two, 66 Eagle Street, GPO Box 2242, Brisbane Queensland 4001, Australia Telephone: +61 7 3009 6838

“We have deep conviction in our investment process and philosophy, and its stress on looking for opportunity in infrastructure categories that remain largely undiscovered,”

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Before discussing the future, Ross tells us a little more about the last 12 months, the trends he noticed emerging in the fund industry and what made 2013 such a momentous year for QIC.

“There was a high level of interest in the sale process, with a number of competing consortia comprising committed and competitive local and international institutional investors and strategic industry players.

“Infrastructure as an asset class is gaining increasing investor interest, particularly in light of current low global fixed income returns. While institutional investors value infrastructure’s yield, they are also drawn to the asset class for its potential to deliver longterm capital improvement.

“Whilst on the buy side, we are very proud of the purchase of the Moomba to Adelaide gas pipeline in the State of South Australia.

“With regards to transactions we are particularly proud of, we sold Queensland Motorways (QML) in April 2014 for AUD$7.057 billion in one of the world’s largest transport infrastructure deals.

“QML manages a 70km network of tolled roads, bridges and infrastructure. The Queensland Government transferred QML – which at the time included just the Gateway and Logan motorways – to QIC to asset manage in May 2011 for a market-value price of AUD$3.088 billion.

“QIC’s Global Infrastructure group made substantial progress in commercialising the business since taking over three years ago, installing a highly experienced board and management team.

“In addition, under QIC’s stewardship in 2013 QML acquired three additional toll road concessions, creating a genuine network platform in South east Queensland. Legacy Way and the Go Between Bridge were acquired from Brisbane City Council using an innovative structure that protected QML from greenfield traffic risk for the under-construction Legacy Way. QML also acquired the Clem 7 tunnel from the receivers of Rivercity Motorway and folded the tunnel into its existing maintenance and tolling operations.

“It came about following the Australian competition regulator’s requirement that APA Group – one of Australia’s largest natural gas infrastructure businesses – dispose of the pipeline as a condition of acquiring a major infrastructure fund. The timeline was short and QIC was able to act swiftly as we had a strong understanding of the Australian gas pipeline industry in advance of the sale process.”

With regards to 2014, Ross has predictions on how he expects the industry to pan out.

“After the experience of 2008/2009, investors are demanding new approaches to managing risk. Caution will prevail alongside opportunism. The quest for returns will exist alongside the desire for other goals including capital conservation, inflation protection and regular income. Infrastructure will be a key component of this dynamic.

“Many Western countries are revisiting the ‘pension promise’ and the closure of DB plans will accelerate. Accompanying this will be the personalisation of risk through a switch to DC plans.

“Asset managers will need to innovate to create investment structures that can ensure dignified living standards for retirees.”

Brisbane City, Australia

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20 | 2014 International Fund Awards

Expatriate Tax Firm of the Year - UK

Trotman Taxation Services Greg Trotman, founder of Trotman Taxation Services, talks to Acquisition International magazine about the firm and its services in the wake of being awarded UK Expatriate Tax Firm of the Year.

Trotman Taxation provides companies, entrepreneurs and private clients with the specialist tax assistance required when people move across borders. Experts in UK and US expatriate taxation, with a global reach achieved through an affiliate network, Trotman Taxation has been operating since 2002. The extensive knowledge within its friendly team enables the firm to deliver integrated and unified tax services of the highest quality.

Trotman Taxation’s mission is to deliver a personal and cohesive tax service to the internationally mobile community, as founder, Greg Trotman, explains: “We help a wide range of clients by providing bespoke tax structuring and planning advice as well as compliance services at both an individual and a corporate level.

So, whether you are a UK individual living in a foreign country, a US citizen living outside the US, a growing business looking to expand overseas or an established business looking to increase the number of employees moving globally, we have the experience and knowledge to help fully understand the complexities and challenges to be faced.”

“In the current environment of increasing tax regulation, we believe that good, clear, and regular communication with our clients is key. We have also invested in our technology to include not only a secure online filing system, but assignment planning and compliance tracking in real time. Our aim is to make the tax compliance burden as quick and painless as possible.”

Greg attributes the team’s success to the hard work and diligence of his team.

“Our approach of combining highly trained and entrepreneurial staff with a strong technology leverage make Trotman Taxation agile and effective at customer service and a great place to work.”

Greg is an expert in US individual income taxation as well as being a registered member of the UK Association of Taxation Technicians. He spent nearly a decade working in the field of expatriate taxation with PwC in the UK and Europe before setting up Trotman Taxation.

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He explains more about the company and the services it can offer specifically to funds: “The company provides UK and US tax assistance to funds initially looking to set up in the UK as well as longer established UK entities which appoint US citizen/resident partners. We are able to provide planning advice to both the corporate fund as well as the individual partners to help navigate a tax efficient and compliant path between UK and US tax jurisdictions.

Tax authorities are becoming more and more bullish towards taxpayers with cross border issues and we understand that knowledge and speed in this fast-moving and ever-changing field are fundamental to successful client service.”

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Trotman Taxation Services UK Ltd. www.trotmantaxationservices.com contact@trotmantaxationservices.com The Magdalen Centre, The Oxford Science Park, Robert Robinson Avenue, Oxford, OX4 4GA, United Kingdom Tel. +44 (0)1865 784 419 Fax +44 (0)1865 784 004

“Our approach of combining highly trained and entrepreneurial staff with a strong technology leverage make Trotman Taxation agile and effective at customer service and a great place to work.”

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Radcliffe Camera and All Souls College at the university of Oxford. Oxford, England

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22 | 2014 International Fund Awards

The Private Equity Partner for the “Mittelstand” Quadriga Capital is the leading private equity firm specialising in the acquisition of mid-market companies in Germany and neighbouring countries.

Using experience gained from investing in more than 80 businesses over the last 25 years, the Quadriga Capital team works with highly qualified and ambitious managers and renowned industrialists to create sustainable growth and long term value.

In recent years, Quadriga Capital Private Equity Funds have invested in market leading companies including AMEOS, Jack Wolfskin, LEWA, AHT, and many others, leading their transformation from good companies to truly great, globally recognised businesses.

“The team aims to stand for continuity, sustainability, and commitment to take care of our portfolio companies and the people involved.”

Philipp Jacobi / Partner

entrepreneurial • sustainable • personal Hamburger Allee 4 • 60486 Frankfurt am Main • Phone +49 (0)69 795 000-0 • Telefax +49 (0)69 795 000-60 • E-Mail: contact@quadriga-capital.de www.quadriga-capital.de

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International Fund 100 - Mutual Funds

Seychelles has grown to become one of the most attractive destinations for financial services and structuring as a jurisdiction in the Indian Ocean region. Abacus Seychelles, established in 2006, is the preferred solutions provider for those looking for the right ave-nues to protect and grow their businesses and assets. We have grown to be a reputed player in the market with our solutions for en-trepreneurs, individuals and families, financial planners, fund operators, and tax planners.

Abacus (Seychelles) Limited.

Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles.

Ph no.: (248) 4610780 Fax no.: (248) 4610781 For Enquiries: enquiry@abacus-offshore.com http://abacus-offshore.com/

The ABC Group is a household name in Mauritius and is ranked as the 20th largest busi-ness organisation in Mauritius.

We are active in five main sectors namely Banking (leasing, loans, internet banking ser-vices etc.), Financial Services (capital markets, insurance brokerage & offshore financial business), Automobile (exclusive distributor of Porsche, Nissan, Alfa Romeo and Fiat), Shipping & Logistics and Foods (importation & distribution as well as production).

We have been in business for over 80 years now as major contributors to the economic development of the island and the Group’s trademark is to be the ‘House of Quality and Service’.

Aberdeen Asset Management PLC is a global investment management group, managing assets for both institutional and retail clients from offices around the world.

Our mission is to deliver strong fund performance across diverse asset classes in which we believe we have a sustainable competitive edge.

Aberdeen Asset Management 10 Queens Terrace Aberdeen AB10 1YG Tel: +44 (0) 1224 631999 Fax: +44 (0) 1224 647010 http://www.aberdeen-asset.co.uk/

The ABC Group operates in the offshore financial sector through two companies, ABC Global Management Services Ltd. which is based in Mauritius and ABC International Services (Seychelles) Limited, based in Seychelles.

ABL AMC envisages becoming a world class Asset Management Company striving to provide innovative wealth management solutions for its Institutional and Retail investors.

ABL Asset Management Company is licensed to undertake asset management and investment advisory services and aims to set the highest industry standards for integrity and quality of service through professional fund management of Mutual Funds, always ensuring its client’s interest foremost.

ABL is rated AA+ (double A Plus) in long term and A1+ (A one plus) in short term by Pakistan Credit Rating Agency (PACRA).

ABL Asset Management Company Limitd (ABL AMC) 11-B, Lalazar, M.T Khan Road, Karachi.

Toll-Free Helpline 0800-ABL -AM(225-26) UAN: 021-111-225-262 Fax: 021-99207409, 021-99207407 Email: contactus@ablamc.com Website: www.ablamc.com

Absolute Portfolio Management (APM), a member of the C-QUADRAT Group, is a leading independent asset management company in the German speaking region, which is specialized in asset allocation, analysis and management of absolute return investments. Our investment philosophy does not measure success in comparison to other investments or indices but purely based on its real return - Absolute.

The aim of all APM products is continuous capital growth but with a focus on security and risk minimisation. In rising markets the focus is on performance optimisation. In falling markets the focus is on active risk management in order to protect the consigned assets from heavy losses.

The company was founded in April 2006 from the asset management division of Vienna Portfolio Management Inc. Since September 2012, the C-QUADRAT Investment AG is majority shareholder of APM. The office and management of Absolute Portfolio Management are located in Vienna. The business focus is on institutional clients and high net worth individuals. Our goal is to increase our customer base in close collaboration with banks, online businesses and distributors and to expand into new markets in the coming years.

Absolute Portfolio Management GmbH Stubenring 2, A-1010 Vienna Tel.: +43 1 533 59 76 Fax: +43 1 533 59 76 - 860 Email: info@absolutepm.at http://www.absolutepm.at/

Aberforth’s style is to focus on ‘value investing’ and this approach is consistently maintained throughout all our funds. It has developed over time and does not use any one style or sub-set of value investing. Aberforth recognises that some businesses perform better than others depending on the stage of the economic cycle and we incorporate this into our portfolios. Our value approach can compliment other growth-orientated funds to help spread the risk in an investment portfolio.

Aberforth undertakes its own fundamental research before reaching an investment conclusion. A key element of this are regular meetings and contacts with the managements of small companies throughout the UK. This means that our funds have access to first hand information in what is a relatively under-researched area of the stockmarket.

The ABC Group 3rd Floor, Raffles Tower Cybercity, Ebene Republic of Mauritius Tel: (230) 464 2668 Fax: (230) 464 2771 Email: info@abcglobal.intnet.mu

ABL Asset Management Company Limitd (ABL AMC) is a wholly owned subsidiary of Allied Bank Limited (ABL). With a paid up capital of Rs.500 Million, ABL Asset Management Company is the second highest Pakistani startup Asset Management Companies.

Aberforth Partners was established in 1990 to provide institutional investors with a high level of resources focussed exclusively on small UK quoted companies. Since then funds under management have grown to approximately £2.3 billion (as at 31 March 2014). Aberforth Partners is wholly owned by the six partners listed at the bottom of this page.

Aberforth Partners LLP 14 Melville Street Edinburgh EH3 7NS Tel: 0131 220 0733 (Telephone calls may be recorded) Fax: 0131 220 0735 http://www.aberforth.co.uk/

Absolute Return Partners is a London based investment management company. Founded

by Niels Jensen in 2002, we focus on providing bespoke alternative investment solutions to institutional investors. We manage over $500m of assets.

In the last ten years we have grown into an established and cohesive team of over twenty professionals and since 2009 we have launched a number of successful joint ventures enabling us to service our diverse client base.

We believe the best investment results are obtained through long-term strategic thinking. Our aim is to identify attractive, alternative investment opportunities in an ever-changing investment landscape; hence much of what we do is driven by the macro views expressed in the Absolute Return Letter.

Absolute Return Partners LLP 16 Water Lane Richmond, TW9 1TJ United Kingdom T +44 20 8939 2900 F +44 20 8939 2940 info@arpinvestments.com http://www.arpinvestments.com/home

Advanced Fund Administration (“AFA”) is a privately owned hedge fund and private equity fund administration firm established in the Cayman Islands in January 2008 by Peter M.O. Young.

In September 2009 AFA expanded its global footprint into the United States by opening its Summit, New Jersey office, trading as Advanced Fund Administration LLC. Since then, AFA has opened business development offices in Miami and Los Angeles. In 2013 AFA expanded its service offering to include offshore legal services via AFA Legal Resources (Cayman) Ltd and AFA Advisory Services to address the needs of early stage fund managers.

AFA is a SSAE 16 Type II SOC I compliant, boutique fund administration firm providing comprehensive and cost effective fund administration solutions to all types of fund structures and investment strategies. The core of AFA’s service combines robust technology and experienced staff, offering clients personalized service and continuous access to AFA’s Executive Management. AFA values each client relationship and prides itself on partnering with its clients throughout the fund lifecycle and beyond.

Advanced Fund Administration AFA (Cayman) Ltd. Zephyr House - Fifth Floor 122 Mary Street George Town, Grand Cayman KY1-1109 Cayman Islands info@advancedfundadministration.com +1(345) 943 4232 (345 943 4AFA) + 1(345) 943 4231

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24 | 2014 International Fund Awards

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International Fund 100 - Mutual Funds

Aerion was originally the pensions investment department of British Gas, responsible for managing the in-house defined benefit pension scheme. It has successfully maintained this role through the various mergers and demergers of the sponsoring company to become the manager of the National Grid UK Pension Scheme.

Aerion manages a balanced fund, diversified to provide long-term growth and to meet pension payments as they fall due. Aerion strives to improve continuously the services it delivers to the trustees, bringing innovation and expertise.

Aerion Fund Management Limited Chancery Exchange 10 Furnival Street London EC4A 1YH United Kingdom Telephone +44 (0) 20 7269 4900 http://www.aerionfm.com/default.aspx

AKD Investment Management Limited (AKDIML); is the investment management arm of the AKD Group. AKDIML has a luminous history of making returns to its investor; this is only achieved as AKDIML is backed by well diversified group and has well qualified human resource; with a cumulative experience of over 40 years in the financial sector.

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Al Meezan Investment Management Limited (Al Meezan) is the largest Shariah compliant asset management company in Pakistan with a solid track record of over 18 years of fund management.

Incorporated on 27th February 1995, it is a group company of Meezan Bank Limited and Pakistan Kuwait Investment Company Private Limited and is currently managing assets of over Rs.56 Billion.

AKD Investment Management Limited (“AKDIML”) is a wholly owned subsidiary of AKD Securities (Private) Limited (“AKD”), the premier brokerage house on the Karachi Stock Exchange.

We are completely focused on allowing our clients to fully benefit from the experience of our time-tested fund managers. Our fund management team manages one of the oldest mutual funds (Golden Arrow) in the market and is in the process of developing a range of cutting edge financial instruments.

Al Meezan is registered as a Non Banking Finance Company under the Non Banking Finance Companies (Establishment and Regulation) Rules, 2003 and NBFC Entities Regulations 2007 with the Securities and Exchange Commission of Pakistan (SECP) to carry on the business of asset management and investment advisory. Al Meezan is a member of the Mutual Funds Association of Pakistan (MUFAP). As an Investment Adviser, Al Meezan is authorized to manage discretionary and non-discretionary portfolios for its clients. It has also been licensed as Pension Fund Manager to manage Voluntary Pension Funds under Voluntary Pension System Rules, 2005. Al Meezan has got Management Quality Rating “AM2” assigned by JCR-VIS.

AKD Securities is a leading securities firm providing financial services to a large and diversified group of foreign and local institutional and individual clients. AKD Securities is the top broker in equity sales and trading and a leader in raising and providing risk capital in underwriting, market making and mergers & acquisitions in Pakistan.

AKD Investment Management Ltd. 216-217, Continental Trade Centre, Block 8, Clifton, Karachi.

UAN: 111-253-465 Fax: 021-35303125 info@akdinvestment.com http://www.akdinvestment.com/

Alfred Berg is an autonomous Nordic asset manager and a company within BNP Paribas Investment Partners, the dedicated asset management business line of BNP Paribas, an A+ (S&P, as of October 2012, reconfirmed June 2013) rated company. We operate in three Nordic countries from our offices in Stockholm, Oslo and Helsinki.

As a part of BNP Paribas Investment Partners we combine local expertise and presence with a global network of investment specialists and solutions.

With a dedicated staff of about 113 professionals, specialised in portfolio management, analysis, administration, compliance, and client servicing, we can meet the individual needs of each of our clients.

Our primary focus is to deliver consistent, superior returns for the benefit of our clients. We seek to achieve this through a rigorous investment process, which relies on proprietary research and the experience and skills of our dedicated investment teams.

We consider ourselves to be a partner to our clients, not a vendor, by providing service beyond what is required in our contracts. As highlighted in our Guiding Principles, ALPS was founded on the premise to always “Do Things Right” and this motto still flourishes within our company today.

Management at ALPS has made a conscious decision to control growth so that we never have to compromise our service levels or our reputation in the industry for delivering tailored, high-touch services to our clients. By following this philosophy, ALPS has demonstrated a consistent ability over the years to grow revenues while maintaining high levels of service and excellence.

Truly customized service requires care and forethought. To ensure we can always fulfill that commitment, we aim to partner with like-minded clients who share our values. Your success is our success; therefore, we maintain a deep commitment to providing a range of high-quality services critical to the growth of your funds.

We manage funds and discretionary portfolios worth about EUR 17.9 billion for a wide range of Nordic and international clients including private and institutional investors, investment trusts, charities, financial institutions, and pension funds.

ALPS is solely focused on providing a suite of asset servicing and asset gathering solutions to the investment management industry. Clients successfully leverage both aspects of ALPS to combine a top-rated fund servicing model with the expertise needed to raise assets.

Alfred Berg Finland Telephone: +358 9 2283 21 Fax: +358 9 2283 2682 E-mail: info@alfredberg.com http://www.alfredberg.com/GL/index.page?

ALPS Fund Services, Inc. 1290 Broadway, #1100 Denver, CO 80203 303.623.2577 http://www.alpsinc.com/index.php

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Alfalah GHP Investment Management Limited is licensed by the Securities and Exchange Commission of Pakistan (SECP) to provide asset management and investment advisory services to retail, corporate and institutional investors as per NBFC rules, 2003.

The company is a joint venture Non-Banking Finance Company established by Bank Alfalah Limited and GHP Arbitrium of Switzerland.

Alfalah GHP Investment Management Ltd. 8 - B, 8th floor, Executive Tower, Dolmen City Building, Block 4, Clifton, Karachi UAN 111-090-090 Investor.services@alfalahghp.com www.alfalahghp.com

Al Meezan Investment Management Limited Ground Floor, Block B, Finance and Trade Centre (FTC) Sharah-e-Faisal, Karachi, 74400 UAN: 111-633-926 (Meezan) Tel: (92-21) 35630722-26 Fax: (92-21) 35676143 Call Toll Free: 0800 - HALAL (42525) Email: info@almeezangroup.com http://www.almeezangroup.com/

Amicorp saves its clients time and money and brings them peace of mind by providing legal, administrative and financial services of excellent quality. We achieve this by standing out from the crowd, and being innovative, proactive, and true to our core values, while delivering the highest possible quality in everything we do.

Vision To be one of the top ten trust companies in the world, and the best one in the emerging markets, while being soundly profitable, providing a safe and stable working environment for our employees, promoting environmental consciousness, and contributing positively to the communities in which we are active.

Amicorp Values: Integrity and Honesty Loyalty and Teamwork Quality and Care Respect and Equality Founding Principles To understand our clients’ needs by continually focusing on four basic client requirements; to build lasting clients relationships; to be creative in finding the right solutions; maintaining high levels of accuracy; and providing the timely delivery of services.

Amicorp Group http://www.amicorp.com/index.html

Amicorp Switzerland’s offices, located in Zurich and Zug, assist both high net worth individuals and corporate clients to achieve the highest level of tax savings, asset protection, discretion and security available. In addition to offering all Group products and services, Amicorp Switzerland provides a range of banking-related, financial and fund services. Amicorp Switzerland is also an approved service provider to many Swiss Banks and international banks based in Switzerland.

For individual clients and their families who wish to migrate to Switzerland, Amicorp Switzerland offers relocation services, including provision of residence permits, lump-sum taxation, and housing arrangements, to cater to the client’s needs and wishes in the canton of choice.

Amicorp Switzerland can assist clients with the establishment and management of Swiss companies such as the AG (joint stock company), GmbH (limited liability company), and Swiss branches of foreign companies, as well as Swiss private trustee companies.

Amicorp Switzerland Switzerland AG Bellerivestrasse 17 CH-8008 Zurich Switzerland Telephone: +41 ­44 2 ­ 52 0880 Facsimile: +41 44 252 0881 Email: switzerland@amicorp.com http://www.amicorp.com/index.html

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International Fund 100 - Mutual Funds

Anson Group has for the past fifteen years specialised in providing a wide range of support services to companies and funds.

Anson Fund Managers Limited set the standard for the delivery of Company Secretarial and fund administration, accounting, valuation and compliance services; acheiving ISAE 3402 accreditation in November 2013 for the year ending 30 September 2013. Anson Fund Manager’s clients include trading companies, open‑ended and closed‑ended funds, unit trusts, investment companies and limited partnerships, many of which are listed on stock exchanges such as the LSE, SFM, AIM, CISX and Euronext Amsterdam.

In December 2013 Anson merged its fund administration business into JTC Group in order to provide its clients with a multi‑jurisdictional solution; something which Anson Group could not provide on its own. 22 staff have moved from Anson Group to JTC Group.

Anson’s reputation is built on its ability to deliver a highly professional service in a timely, efficient and accurate manner.

For further information please e‑mail General enquiries or telephone 01481 722260 (International dial +44 1481 722260) or fax 01481 729829 (International fax +44 1481 729829).

One of the world’s largest independent fund administration companies. With over $28 billion of assets under administration, 34 offices and 370 employees across the globe The APEX Global Network is at the heart of the Company’s strategy. APEX is located alongside its clients providing the highest levels of personalised services APEX is unique in its ability to reach globally, service locally and provide cross-jurisdictional solutions and best practice Office and fund administration services interact with services provided primarily by prime brokers, facilitating trade processing, data acquisition and processing for clients.

These services include: Emerging Manager Platforms Onshore and Offshore Investor Servicing Fund and Portfolio Accounting Services Company Secretarial Administration Middle Office Services Directorships Audit and Risk Reporting Tax Services Private Equity Services Due Diligence Services

Anson Group Anson Place, Mill Court, La Charroterie St Peter Port, Guernsey http://www.anson-group.com/

Apex Fund Services Info@apexfunds.ie http://www.apexfundservices.com/

At Assante Wealth Management, we understand that everyone’s financial situation is unique and that managing your wealth can be complex and time-consuming. An Assante Wealth Management Advisor can simplify your life by addressing your complete financial well-being which encompasses everything from your investments and insurance to your tax and estate planning needs. Supported by a team of professionals including lawyers, tax accountants and financial analysts, an Assante advisor can work with you to make the right decisions about your wealth, and help you build the future you desire. Learn more about us.

AFR is a leading law firm based in Guernsey.

Assante Wealth Management 2 Queen Street East, 19th Floor Toronto, ON, M5C 3G7 Main reception: 416-348-9994 Toll free: 1-888-348-9994 Call us: 1-800-268-3200 Fax us: 1-866-645-4447 Email us: service@assante.com http://www.assante.com/

We are committed to offering high calibre legal services, with lawyers who are flexible in their approach and have a broad breadth of legal knowledge. As a consequence, AFR has an exceptionally strong client base, including leading law firms in other jurisdictions (for example the UK, USA, and Switzerland), international financial institutions and companies, and insurers, as well as local businesses and private clients.

We are a full service firm, specialising in corporate and commercial law, litigation, clinical negligence, employment, property, insolvency, family, inheritance and probate, maritime, trusts and regulatory.

AFR also offers a full range of fiduciary, management and administration services for offshore companies and trusts through its in-house service provider, AFR Trustees (Guernsey) Limited, which is fully licensed and registered by the Guernsey Financial Services Commission.

AFR Advocates PO Box 688, Court Place Rue du Manoir, St Peter Port Guernsey, GY1 3XZ Tel: +44 (0)1481 743999 Fax: +44 (0)1481 743990 E: info@afradvocates.com http://www.afradvocates.com/index.asp

MCB-Arif Habib Savings and Investments Limited (formerly: Arif Habib Investments Ltd.) is an Asset Management, Investment Advisory and Pension Fund Management Company, managing Openend Mutual Fund and Pension Funds. The Company is registered with the Securities & Exchange Commission of Pakistan (SECP) and regulated under the Non-Banking Finance Companies (NBFC) Rules 2003, NBFC and Notified Entities Regulations 2008 and Voluntary Pension System Rules 2005. MCBAH is a member of the Mutual Funds Association of Pakistan (MUFAP).

MCB-Arif Habib Savings and Investments Limited (formerly: Arif Habib Investments Ltd.) manages over Rs. 46.43 billion, as on March 31st 2014.

It has 14 Mutual Funds,2 Voluntary Pension schemes and different Investments Plans in its product portfolio to meet the investment needs of its growing clientele. The Company was conceived in the year 2000 and, in March 2002, two of its flagship Funds, the Pakistan Stock Market Fund (PSM) and the Pakistan Income Fund (PIF) were launched.

Armstrong & Quaile Associates Inc. is a National Mutual Fund Dealership associated with Armstrong & Quaile Insurance Agency. We have been in the business of Mutual Funds since June 1991.

The company was founded by Ken Armstrong and Elwood Quaile. Both have extensive business backgrounds. Several of our representatives also have an ownership position in the company.

Our Head Office is in Manotick, Ontario (just outside of Ottawa); and Waterloo, Ontario. There are presently over 200 licensed sales associates in 35 Branch Offices across Canada. Administrative staff at the two Head Office locations are available to help our licensed representatives in the field and to provide technical support as needed.

Armstrong & Quaile Associates Inc. http://www.a-q.com/main.php

Address: 8th Floor, Corporate Tower,Techno City, Hasrat Mohani Road, Karachi, Pakistan UAN:(+9221)11-11-6222-24 (11-11-MCB-AH), (+9221) 111-468 378 (111-INVEST),(+9261) 32468106-9, (+9261) 32468111-12 Fax: (+9221) 32276908,32470337 Email: info@mcbah.com Email: marketing@mcbah.com http://www.mcbah.com/index.aspx

Since our founding as Forum Financial Group in 1986, asset managers have depended on Atlantic’s innovative products and exceptional service.

Starting a fund? You can rely on our expertise to successfully bring you to market. Searching for broader or better service? Look to leverage our global offering and deep industry experience.

Atlantic Fund Services Three Canal Plaza Portland, ME 04101 Phone: 207 347 2000 Fax: 207 347 2100 info@atlanticfundservices.com http://www.atlanticfundservices.com/index.php

Atlas Asset Management Limited (AAML), an Atlas Group Company, was incorporated on 20 August 2002 as an unlisted public limited company and is registered with the Securities and Exchange Commission of Pakistan as an asset management company for managing open-ended funds and closed-end funds. AAML is also a licensed pension fund manager to manage voluntary pension funds.

AAML is a wholly owned subsidiary of Shirazi Investments (Pvt.) Limited (SIL). As the parent company, SIL sponsors Atlas Group projects.

Atlas group is a diversified group dealing in engineering, financial services, real estate & trading.

AAML strives to be a market leader in providing quality fund management services with customer satisfaction as its aim, and is consistently committed to offering its investors the best possible returns on a diverse range of products, meeting not only the customer’(s) current requirements but also exceeding their future expectations. With its strong emphasis on systems and controls, quality human resource and backing of Atlas Group, AAML enjoys a distinct advantage.

Atlas Asset Management Limited Ground Floor, Federation House, Sharae Firdousi, Clifton, Karachi -75600 UAN 111-MUTUAL (6-888-25) (Karachi) PABX (92-21) 35379501-04 FAX (92-21) 35379280 cs@atlasfunds.com.pk http://www.atlasfunds.com.pk/index.php

www.acquisition-intl.com

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International Fund 100 - Mutual Funds

The ATR KimEng Asset Management Group (ATR AM or ATR AM Group) operates through ATR KimEng Asset Management, Inc. (ATR AM MF) and the Trust Department of Maybank ATR Kim Eng Capital Partners, Inc. (Maybank ATR KE Capital - Trust). In 2009, the ATR KE Group decided to expand its presence in the fast growing domestic asset management industry by forming a dedicated business group called ATR KimEng Asset Management Group (ATR AM or ATR AM Group). This group, comprised of ATR AM MF and Maybank ATR KE Capital - Trust, manages portfolios consisting of mutual funds, trust assets, insurance portfolios, and real estate for proprietary and third party clients.

ATR KimEng Asset Management 15th Flr. Tower One & Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City 1200 Trunkline: +632-848-1381 thru 84 Fax: +632-841-0315 ird@atram.com.ph http://www.atram.com.ph/

Baroda Pioneer Asset Managemet Company Limited is a joint venture between two large and well-established financial services companies Bank of Baroda and Pioneer Investments. Baroda Pioneer Mutual Fund is positioned to serve the varied asset management needs of investors in India through a range of equity, debt and money market offerings. Since the formation of the joint venture in 2008, Baroda Pioneer has been working to create an operational and servicing platform well suited to the exacting requirements of our existing and potential investors.

The Company operates out of 54 locations in India and manages average assets of about Rs. 8105.95 cr. for the quarter ending March 2014.

Baroda Pioneer Mutual Fund 501 Titanium, 5th Floor Western Express Highway Goregaon (E) Mumbai - 400 063 Phone: 022-3074 1000 / 022-4219 7999 Fax: 022-3074 1001 Email :info@barodapioneer.in http://www.barodapioneer.in/default.aspx

AXA Investment Managers (AXA IM) is a multi-expert asset management company within the AXA Group, a global leader in financial protection and wealth management. We are one of the largest European-based asset managers with €547 billion in assets under management as at 31.12.13. In a challenging environment, our ability to offer clients a comprehensive range of investment solutions spanning all asset classes, as well as the talent of our fund managers enabled AXA IM to thrive.

In an environment of increasing regulation, AXA IM has continued to leverage its experience of working with the AXA Group to provide institutional investors with new and often bespoke solutions.

AXA IM’s detailed knowledge of bank balance sheets, combined with the excellence of the credit analysis teams, has also enabled AXA IM to develop innovative initiatives with regard to loans, thereby turning the disintermediation of the bank industry into an opportunity for clients.

Axis Mutual Fund launched its first scheme in October 2009 - A challenging period on any account not just for the Indian but the global investor too. Despite this Axis Mutual Fund in less than five years has got off to a good start. Some numbers that bear this out

Banwell Financial Inc. (BFI) is a registered dealer, totally independent in recommending investments from all of the major banks, investment and insurance companies in Canada. We offer the services of an independent insurance agency through Banwell Financial Planning.

A-well-rounded product suite that consists of 32 Schemes (5 Equity, 18 Debt, 7 Hybrid, 1 Gold FOF & 1 Gold ETF) Over 5 lac relaxed investors.

Presence in over 75 cities

Frank and Michael Banwell are Certified Financial Planners (CFP) and Investment Advisors, and have been helping clients manage and build wealth since 1984.

Axis Asset Management Co. Ltd 1st Floor, Shop No. 101, Megha House, Opp. Kotak Bank, Mithakali Law Garden Road, Elisbridge, Ahmedabad - 380006 Tel 079 26422191. https://www.axismf.com/Mutual-Fund/Axis-Mutual-Fund.aspx

AXA Investment Managers (AXA IM) http://www.axa-im.com/en/

With effect from 14th July, 2011,Benchmark Asset Management Company (BAMC) is a part of the Goldman Sachs group. BAMC is an asset management company in India with a primary focus on indexing and using quantitative techniques in creating innovative products. BAMC is run and co-promoted by professionals with a long experience in the Indian and International Financial Markets.

Benchmark Asset Management Company (BAMC) Goldman Sachs Asset Management (India) Private Limited 951-A, Rational House, Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025 Tel No. : 1800-266-1220 Fax No. : 91 22 6627 9245 http://www.benchmarkfunds.com

It is our belief that serious money is professionally managed money. We assist clients in implementing suitable and appropriate investment strategies based on their individual and unique goals and requirements while utilizing best-in-class products and services.

We endeavour to manage wealth for our clients responsibly, with full awareness of risk, consequences of taxation, and consideration of estate planning requirements.

Banwell Financial Inc. 2 Lansing Square, Suite 302 Toronto, ON M2J 4P8 Telephone: 416-494-1099 Fax: 416-494-6675 Toll Free: 1-855-494-1099 fbanwell@banwellfinancial.com mbanwell@banwellfinancial.com http://www.banwellfinancial.com/

Bentley Reid provides bespoke solutions for every aspect of wealth management and personal financial planning.

From our offices in London, Hong Kong and Malta our professionals can help you resolve an isolated problem or advise on a comprehensive strategy for the long term management of your financial affairs. Bentley Reid offers a discrete, personal service focused on the preservation, protection and growth of your wealth.

The company is wholly independent, catering to the domestic and international needs of private individuals, trusts, foundations and charities.

Our fees are transparent and we avoid conflict of interest in every area of our service provision.

We do not charge for an initial consultation and would welcome the opportunity to demonstrate how our services could be of value to you, your family and heirs.

Bentley Reid & Co (UK) Limited 29 Queen Anne’s Gate London SW1H 9BU UNITED KINGDOM T: +44(0) 20 7222 8081 F: +44 (0) 20 7227 8440 E: UK@bentleyreid.co.uk http://www.bentleyreid.com/eng/home/

BOI AXABOI AXA Investment Managers Private Limited is a joint venture between Bank of India and AXA Investment Managers, a part of AXA Group, one of the world’s largest players in the Financial Protection industry.

Bank of India has 4545 branches in India spread over all states/ union territories including specialized branches. These branches are controlled through 50 Zonal Offices. There are 54 branches/ offices and 5 Subsidaries and 1 joint venture abroad. (source: www.bankofindia.com) AXA Investment Managers (AXA IM) is one of the world’s leading asset managers, backed by the strength of the AXA Group with assets under management (AUM) of EUR 536 billion as at 30.09.13. AXA IM employs more than 2,100 employees that represent 79 nationalities and operate in 30 cities across 21 countries in Europe, the Americas, Asia and the Middle East. (source: www.axa-im.com) BOI AXA Investment Managers Private Limited, 51, East wing, Kalpataru Synergy, Vakola, Santacruz (E), Mumbai - 400 055. service@boiaxa-im.com 1800-103-2263 (Toll Free), 020-40112300 http://www.boiaxa-im.com/index.php

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International Fund 100 - Mutual Funds

Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada. The joint venture brings together the Aditya Birla Group’s experience in the Indian market and Sun Life’s global experience.

BMA is amongst the leading financial groups in Pakistan. BMA Capital’s core areas of business include Equity Markets, Treasury Markets, Corporate Finance & Advisory, Research, and Retail Brokerage. A leading advisor to the privatisation committee in Pakistan, BMA Capital has successfully advised on over 50% of all privatisations in the country, exceeding US$4 billion in value.

Established in 1994, Birla Sun Life Mutual fund has emerged as one of India’s leading flagships of Mutual Funds business managing assets of a large investor base. Our solutions offer a range of investment options, including diversified and sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range of debt and treasury products and offshore funds.

Recent transactions include co-managing the $813 million GDR Offering of 10% of OGDCL on the London Stock Exchange in 2006-07, and advising Etisalat on their successful acquisition of a 26% strategic stake in Pakistan Telecommunications Company Limited (PTCL) for US$2.6 billion, the largest M&A transaction and foreign direct investment in Pakistan ‘s history. The firm is among the top brokers in Pakistan’s equity and treasury markets, and is one of a handful of firms that comprehensively cover all segments of capital markets. This is supported by a very strong and independent research capability, with extensive coverage in both local and international media.

Birla Sun Life Asset Management Company has one of the largest team of research analysts in the industry, dedicated to tracking down the best companies to invest in. BSLAMC strives to provide transparent, ethical and research-based investments and wealth management services.

Birla Sun Life Asset Management Company Ltd. http://mutualfund.birlasunlife.com/Pages/Individual/Home.aspx

Established in 1817, BMO Financial Group serves more than 12 million personal, commercial, corporate and institutional customers in North America and internationally.

BMO Financial Group is driven by enduring corporate values. These values represent our core beliefs. They stand as our collective commitment – to our colleagues, to our customers, to our shareholders and to the communities of which we are a part. These values live in the way we work, in the solutions we offer, in the employment environment we provide and in the way we partner with the community.

BMO Financial Group http://www.bmo.com/home

Brown Brothers Harriman & Co. opened its first London subsidiary in 1974. Brown Brothers Harriman Investor Services Limited (BBH ISL) is a UK registered company, authorized and regulated by the UK Financial Conduct Authority (FCA) for the provision of financial services business and subject to oversight by FINRA. BBH ISL is a wholly-owned subsidiary of BBH&Co. The services provided by BBH ISL are foreign exchange, equity execution sales together with middle office support, securities lending, custody services, fund solutions. In addition to regulated activities listed above BBH ISL also provides Infomediary® and client technology services support to UK and European clients.

Brown Brothers Harriman Investor Services Ltd. Park House 16-18 Finsbury Circus London EC2M 7EB, England 44.207.588.6166 contactus@bbh.com www.bbh.com

BMA Capital’s retail brokerage brand, BMA Trade, has a nationwide network of branches as well as a comprehensive online trading platform, enabling investors across Pakistan to take part in the capital markets.

BMA Asset Management Company Limited 804 Unitower, I. I. Chundrigar Road, Karachi, Pakistan UAN: +92 21 111 262 111 Email: info@bmafunds.com http://www.bmafunds.com/index.asp

BNP Paribas Mutual Fund BNP Paribas Mutual Fund is part of a global network seeking to combine in-depth local market knowledge with the expertise gained from managing investments throughout numerous market cycles and conditions across the world.

CACEIS is a banking group dedicated to institutional and corporate clients.

Caledonian was established in 1970 and has offices in the Cayman Islands, British Virgin Islands, Orlando, Toronto and New York. Caledonian offers a comprehensive range of international banking services to individual and corporate clients. If you have investment banking or offshore banking needs, Caledonian can help. The group is audited by KPMG and many of our companies are licensed and regulated by the Cayman Islands Monetary Authority and the British Virgin Islands.

Canara Robeco Asset Management Company Limited (CRAMC), the investment managers of Canara Robeco Mutual Fund, is a joint venture between Canara Bank and Robeco of the Netherlands, a global asset management company that manages about US$246 Billion worldwide.

The joint venture brings together Canara Bank’s experience in the Indian market and Robeco’s global experience in asset management.

BNP Paribas Investment Partners BNP Paribas Investment Partners is the dedicated asset management business line of BNP Paribas and backed up by the financial strength of one of the best rated banks1 in the world.

Depositary/Trustee-Custody

CACEIS is one of the world’s leading asset servicing providers and is the premier player in the sizeable French market.

The Caledonian Group is a privately held group of companies headquartered in the Cayman Islands with offices in New York, Toronto, Orlando and British Virgin Islands. Caledonian offers a comprehensive range of financial services to individual and corporate clients including:

In recent years, CACEIS has posted impressive growth figures driven by strong sales and targeted acquisitions in the North American, German and Swiss markets.

Banking Brokerage Fiduciary Services Wealth Management

Our services combine powerful IT systems and expert staff to help clients significantly reduce their costs, improve service quality and focus on their core business.

Caledonian Group Caledonian House 69 Dr. Roy’s Drive P.O. Box 1043 Grand Cayman KY1-1102 Cayman Islands Telephone +1 (345) 949-0050 http://www.caledonian.com/

Canara Robeco Mutual Fund is the oldest Mutual Fund in India, established in December 1987 as Canbank Mutual Fund. Subsequently, in 2007, Canara Bank partnered Robeco and the mutual fund was renamed as Canara Robeco Mutual Fund. Since then, it has consistently been one of the fastest growing mutual funds in India in terms of AuM, having grown 160% from March 2009 to March 2013. Our solutions offer a range of investment options, including diversified and thematic equity schemes, hybrid and monthly income funds and a wide range of debt and treasury products.

Through offices across Europe, North America and Asia, CACEIS delivers a comprehensive set of high quality services covering:

Fund Administration and undefined Transfer Agency Issuer Services

BNP Paribas Investment Partners manages and advises assets of over EUR 478 bn across 40 countries with significant presence in Europe, Asia and the Americas. It is Europe’s 6th largest asset manager and among the leading asset managers in the world2 offering one of the widest range of investment solutions in the industry.

Around 700 investment professionals work across the network of some 60 investment centres, each of which is a specialist in a particular asset class or type of product.

BNP Paribas Asset Management India Private Limited BNP Paribas House, 1 North Avenue, Maker Maxity, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051, India. customer.care@bnpparibasmf.in http://www.bnpparibasmf.in/Main/index.aspx

www.acquisition-intl.com

CACEIS is a member of the Crédit Agricole Group.

Caceis Investor Services http://www.caceis.com/caceis/

Canara Robeco Asset Management Company Limited (CRAMC) 4th Floor, Construction House, 5 Walchand Hirachand Road, Ballard Estate, Mumbai - 400 001 crmf@canararobeco.com http://www.canararobeco.com/default.aspx

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International Fund 100 - Mutual Funds

As a mutual fund dealer, we provide Mutual Funds products as well as other financial instruments such as GIC’s, Savings Accounts and other secured investments. We offer these products under license by the Ontario Securities Commission (OSC).

With our product line including 40 companies comprised of the major Canadian banks, trust companies, mutual fund companies and alternative financial products, our clients and advisors have access to over 3000 different investment products.

Since inception, Candor Financial Group Inc. has enjoyed strong, steady growth attributed to our agents excellent track record of customer service and satisfaction. All of our agents are properly licensed and insured for our client’s protection.

In addition to providing an excellent variety of financial products, our financial consultants may provide financial counselling and personalized investment advice to clients seeking wealth management, investment, income tax and retirement planning services.

We look forward to serving you.

The members of Canfin Financial Group have joined forces to provide comprehensive and integrated wealth management services to businesses and their employees, professionals and individuals.

Comprehensive because creating wealth, distributing wealth, managing and preserving wealth cannot be done in isolation. A full 360-degree perspective is required to ensure that success in one area does not conflict with another. We use an integrated approach in all our engagements because when it comes to the creation, distribution, preservation and management of wealth there are no easy answers, and may involve other highly skilled individuals to work collaboratively with us to develop custom tailored solutions based on the unique circumstances of our clients.

Canfin Magellan Investments Inc. Address: 2829 Sherwood Heights Drive Suite 102, Oakville ON L6J 7R7 Phone: (905) 829-0020 Fax: (905) 829-0052 Mobile: Toll Free 1-877-4 CANFIN (226346) Website: http://www.canfin.com/

CDF Advocates was established in 1993 and is based in Malta . The firm practices financial services law - with a special emphasis on funds and fund management, taxation law and company law. Please click on “Our Services” above to learn more about our practice areas.

While many financial institutions try to provide many disparate services, we believe that having a tireless focus is the right strategy. Our focus is to efficiently explore the potential of natural capital in order to offer investors alternative investment opportunities, combining consistent returns over the long term and a clear positive impact upon society and the environment.

CDF Advocates 13/23 Vincenti Buildings, Strait Street, Valletta VLT 08 Malta.

Telephone: (356) 21223334 Fax. (356) 21248594 Email: info@cdf.com.mt http://www.cdf.com.mt/index.asp

Carnegie, founded as a trading house by David Carnegie in 1803, is one of the Nordic region’s oldest trademarks. The company comprised a variety of operations and the streamlining towards financial services was initiated with the formation of the investment bank Bankirfirman Langeskiöld in 1932.

Carnegie Kapitalforvaltning AS http://www.carnegieam.no/

To help you achieve your goals, we will only associate with financial planners, advisors and other professionals and service providers who are committed to life-long learning and professional development. All of our clients will always experience our “qualified approach to wealth creation, wealth preservation, wealth distribution and management!”

Candor Financial Group Inc. 3581 A Dundas Street West, Toronto, Ontario, M6S 2S8 general@candorgroup.com http://www.candorgroup.com/index.html

CDF Advocates is recommended by the International Financial Law Review 1000 and the European Legal 500.

Carnegie’s mission is to put money to work. We are independent in order to guarantee optimal research and advice. We create added value for institutions, corporations and private individuals.

Our aim is to be the leading financial advisor in the Nordic region. Carnegie operates in eight countries and has approximately 600 employees.

Global Forestry Capital has developed, initiated, distributed and managed yield-oriented and tax optimized investments in the alternative investments sector for specific categories of investors.

We constantly think about our clients and how we can better serve and respond to their changing needs while having a positive impact on society and the environment.

At the service level, Carte Wealth Management Inc. is smaller and more nimble at meeting client needs. It has implemented the latest back office technology and partnered with several of the best and most innovative providers of products and services that clients may require.

Carte Wealth Management Inc. 39-2800 Skymark Avenue Mississauga, ON L4W 5A6 Phone: (905)891-7171 Toll Free: 1-866-84-CARTE (22783) Fax: (905)238-8197 Toll-Free Fax: 1-866-489-8197 Email: info@cartewm.com http://www.cartewm.com/home

NWQ Capital Management – is a boutique Perthbased investment services company led by experienced institutional professionals. NWQ is founded on a core philosophy of absolute return investing.

NWQ has a strong commitment to research and education with the objective of delivering clients rigorously constructed absolute return portfolios that they can understand. NWQ serves a range of clients including high net worth individuals, family offices, non- profit organizations and other institutional clients.

Level 4, 66 Kings Park Road, West Perth, 6005 Phone: +61 8 9485 4300 Email: investments@nwqcm.com Web - http://www.nwqcm.com

At Global Forestry Capital our intelligent management solutions are designed to work with a wide array of institutions, corporations, public funds and high-net-worth individuals. As the demand for market neutral alternative funds continues to increase, so does our product portfolio.

Global Forestry Capital specializes in open-ended investment funds and related private equity fund opportunities.

Carte Wealth Management Inc. believes in a process and not in products. The practice is structured around multi-generational planning keeping wealth within the family, integrating all financial aspects and not just focusing on one piece of the puzzle (such as investments). Clients should expect to have their financial situation thoroughly examined before a Carte Wealth Management Inc. advisor makes a recommendation and clients should expect recommendations to be an integrated approach that will effectively allocate their cash flow, reduce risk, reduce taxation, enhance wealth and retain wealth within the family. Advisors work within a team comprising of Financial Planners, Investment Advisors, Trust and Estate Planners and other specialists on a referral basis, such as Lawyers, Accountants, Real Estate Agents and/or Mortgage Brokers.

UMB Fund Services provides a broad array of services for mutual funds and alternative investments – as well as turnkey solutions for launching a mutual fund, a collective fund or a registered alternative fund.

UMB Fund Services is a boutique service provider that differentiates itself from competing firms through its intense focus on service. The company is truly client-focused and strives to deliver on its vision of providing the unparalleled customer experience.

Services include: • Fund accounting • Administration • Tax • Investor services • Transfer agency • Distribution* • Custody* • Cash management* Clients benefit from the company’s high-touch service, leading-edge technology, and the stability of a highly capitalized parent that’s been around for 100+ years.

Learn more at umbfs.com

Company: Global Forestry Capital Address: 9, Rue Sainte Zithe, 4th Floor, L-2763 Luxembourg-City, Grand-Duchy of Luxembourg Web: www.globalforestry.com Phone: +352.248.799.20

*Services provided by affiliates UMB Fund Services 803 W. Michigan Street, Milwaukee, WI 53233 www.umbfs.com 888.844.3350

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For over 30 years, Advisors Asset Management (AAM) has been a trusted partner for financial advisors. We deliver innovative, high quality investment products and support solutions that enable you to focus on helping your clients achieve their investment objectives.

AAM supports your business with comprehensive analytic, portfolio strategy, educational and technology tools created specifically for advisors like you. AAM can help you operate more efficiently, provide better client service, and enhance your ability to offer the quality advice that attracts and keeps clients.

Advisors Asset Management, Inc. 18925 Base Camp Road Monument, CO 80132 Phone: 719-488-9956 / 888-883-2663 Fax: 719-488-4215 https://www.aam.us.com/aamweb/publicsite/ AAMHome.aspx

The Charles Schwab Corporation is a leading investment services firm with a 40-year history of innovating and advocating for individual investors and the financial professionals who serve them.

Charles Schwab focuses on the needs of individual investors, whether we’re serving them directly, through an employer-sponsored retirement or equity plan, or through independent investment advisors.

Seeing through clients’ eyes has always been the Schwab way. Today, approximately 14,000 employees share a passion for helping millions of investors achieve their financial goals. By working together and listening thoughtfully to our clients, we’ve been able to make investing more accessible, affordable and understandable.

The Charles Schwab Corporation 211 Main Street San Francisco, CA 94105 (415) 667-7000 http://www.aboutschwab.com/

Ancora Advisors is a client focused investment advisory firm that operates with the highest level of integrity and honesty in all aspects of our business. This is accomplished through a culture of entrepreneurial spirit that encourages teamwork, excellence, accessibility, humility and accountability. We invite you to learn more about Ancora and what our years of market experience can do for you.

Atlas Capital Advisors, LLC is an independent, fee-only investment advisor firm dedicated to providing unbiased advice to our clients. Our specialty is the design and management of sophisticated, tax-sensitive portfolios for individuals and institutional investors. We seek to produce desirable returns while minimizing costs through proven investment strategies that include separate equity and fixed income securities.

Founded in 2003 and headquartered in Cleveland, OH, Ancora is a 100% employee owned firm with approximately $1.5 billion in discretionary assets under management with an additional $1.2 billion of non-discretionary advisory assets.

We are a Registered Investment Advisor (RIA) with the United States Securities and Exchange Commission (SEC).

At Atlas Capital Advisors, we believe that there are too many intermediaries in the financial services industry adding to fees but not adding value to clients. Our goal is to maximize wealth enhancement opportunities for our clients while minimizing risk. We employ an investment process that yields transparent, tax efficient, diversified portfolios that optimize the risk and reward trade off while minimizing transaction cost.

Ancora Advisors One Chagrin Highlands 2000 Auburn Drive Suite 300 Beachwood, OH 44122 216-825-4000 http://www.ancora.net/

Dimensional is a different kind of investment firm.

Our confidence in the capital markets frees us to think differently about investing and push the frontiers of innovation. Over the years, we have translated financial research into real-world investment solutions, and through our revolutionary approach, investors may seek to capture what the market offers in all its dimensions.

In 1981, we launched our first strategy based on research documenting the stronger performance of US small cap stocks. Our second strategy, a short-term fixed income portfolio launched in 1983, applied Eugene Fama’s term structure research. Later, a comprehensive analysis of prices and other research deepened our strategy repertoire. This evolution reflects an abiding belief in the principles of modern finance and the efficacy of capital markets.

We see markets as an ally, not an adversary.

Rather than trying to take advantage of the ways markets are mistaken, we take advantage of the ways markets are right—the ways they compensate investors.

Austin (global headquarters) Palisades West 6300 Bee Cave Road, Building One Austin, TX 78746 Phone: (512) 306-7400 Fax: (512) 306-7499 http://us.dimensional.com/

www.acquisition-intl.com

Bolton Global Capital is a full service independent broker dealer and FINRA member firm. Since 1985, we have serviced the financial needs of our investment clients through a network of independent financial advisors across the US. Client accounts are held and securities are cleared through Pershing, LLC, a subsidiary of BNY Mellon Corporation and member of the New York Stock Exchange. BNY Mellon is the oldest US banking institution founded by Alexander Hamilton in 1784.

Bolton Global Capital 579 Main St. Bolton, MA 01740 001 978-779-5361 http://boltonglobal.com/

Atlas Capital Advisors LLC 38 Keyes Ave Suite 200, The Presidio San Francisco, CA 94129 Tel: 415 354 2400 Fax: 415 223 3480 http://www.atlasca.com/

The firm currently manages nearly $5 billion in assets for public funds, not-for-profits, religious communities, Taft-Hartley funds, corporations, endowment/ foundations, health care plans, platform relationships, and high net worth individuals.

Great Lakes’ clients receive fundamental and disciplined equity strategies, as well as customized fixed income separately managed solutions along with an open architecture strategy combining SMA’s with funds.

Great Lakes Advisors creates long-term solutions for clients through consistent implementation of conservative investment approaches that seek to deliver competitive performance in all markets.

We focus our attention on innovative and insightful service to meet our clients’ needs.

We have developed a common philosophy designed to achieve superior performance, along with a successful strategy for implementing that philosophy. Just as important, we realized the synergy that results from a cooperative working relationship of experienced professionals.

By operating a client-focused firm, we provide objective investment management to each of our client partners while making their needs our highest priority. We are particularly proud of the long-term stability of our client base and their success.

Great Lakes Advisors 222 South Riverside Plaza, 28th Floor Chicago, Illinois 60606 http://www.greatlakesadvisors.com/

GPA is an employee owned registered investment advisor providing independent and objective fixed income solutions to institutional investors. Our focus is on government organizations such as state general funds, counties, cities, water and power districts. GPA offers consultative investment management advice in a collaborative process that seeks to solve the specific investment challenges of public entities. Our disciplined approach delivers an investment management process with an emphasis on industry best practices.

Our Portland team has excelled in serving public fund clients for more than 30 years. We are confident and inspired by our belief that our customized approach is one that will provide you with the right formula to meet your specific investment objectives.

GPA headquarters are in Portland, Oregon with an institutional client base that is primarily located in the western states. We feature three Chartered Financial Analysts as portfolio managers that utilize the latest reporting software and financial services technology.

Government Portfolio Advisors 2188 SW Park Place Portland, Oregon, 97205 Tel 503-248-9973 Fax 971-266-8825 http://gpafixedincome.com/

2014

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2014 International Fund Awards | 31

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International Fund 100 - Fixed Income

LS Investment Advisors Hudson Advisor Services, Inc. Registered Investment Advisors since 1994, provides investment advisory and family office services to individuals, families, and institutions. William N. Hudson, Jr., Chairman, founded the firm in 1994 and was previously Executive Vice President for Investment Services at HSBC Bank. OverviewDavid Burrows, President, joined in 2003 and was previously Managing Director and Chief Investment Officer for the Goldman Sachs Trust Company. We serve clients from various locations:Greenwich, CT, Washington DC area, and Vero Beach, FL. Hudson Advisor Services, Inc. 237 Main Street Suite 600 Buffalo NY 14203 716-852-7628 Fax 716-852-4591 http://www.hudsonadvisors.com/index.html

Ignis provides the stability of a well-capitalised investment business with some £65.7bn* in assets under management and distributes a range of global investment services. Investment performance, and the risk taken to achieve it, is at the heart of the business model. Ignis believes that entrepreneurial teams operating in standalone business units are best placed to meet, or exceed, clients’ performance needs.

These Ignis business units, each focused on a particular investment capability, are able to devise their own process while sharing a common pool of resources.

The Ignis Asset Management Board consists of five directors, all of whom have extensive experience in financial services. The Board is focused on delivering and executing an ambitious growth strategy that will create a bigger, more successful and vibrant asset management business.

Ignis Asset Management 50 Bothwell Street Glasgow G2 6HR +44 (0)141 222 8000 http://www.ignisasset.com/

Since 1974, managing our clients’ assets has been our sole focus. Based in Madison, Wisconsin, we’ve earned a national reputation for our risk-sensitive investment philosophy and our active bond and equity strategies. The clients of our firm and its affiliates, who entrust us with more than $15 billion of their assets as of December 30, 2013, include hospitals, foundations, endowments, religious organizations, corporations, municipalities, unions, financial institutions and insurance companies. We also serve a wide range of individual investors through mutual funds, managed accounts and private portfolios. All portfolios are managed using our philosophy of “Participate and Protect®” to manage risk by participating in markets when we perceive risk is low and protecting capital when we perceive risk is high.

Madison and its subsidiaries manage client assets in actively managed portfolios including: l l l l

domestic, international and global equity portfolios fixed income portfolios asset allocation portfolios covered call portfolios

Madison Investment Holdings, Inc. 550 Science Drive, Madison, WI 53711 800-767-0300 http://www.madisonadv.com/index.html

North Street Global Fund Services – is an alternative asset fund administration firm. We offer a wide range of services at competitive prices for funds of any size or structure. We work with clients in various stages of their business life cycles. Whether you are a start-up fund or a well-established fund we can add value at any point providing fund administration services or our all-inclusive “Fund Launch” package, and technology and reporting solutions. North Street client assets under administration include level 1, 2 and 3 securities from equities to structured products and we serve; hedge funds, private equity funds and fund of funds.

708 Third Avenue 6th Floor New York, New York 10017 Telephone: 212.203.4671

We are a specialist asset manager focused on designing innovative investment solutions to meet the needs of our clients: pension funds, insurers, sovereign wealth funds, wealth managers, financial institutions and private individuals.

We’re a leading global asset manager, responsible for over £273.3 bn* in assets under management across liability driven investment, currency management, fixed income, absolute return, multi-asset and specialist investment strategies.

It is our experience that solutions are usually designed to suit a manager’s business model rather than the client’s actual needs. At Insight we believe that understanding our clients and finding solutions to meet their specific needs is not just the right thing for our clients, but also for our business.

Insight Investment 160 Queen Victoria Street London EC4V 4LA +44(0)20 7163 4000 moreinsight@insightinvestment.com http://www.insightinvestment.com/

PanAgora Asset Management is a premier provider of investment solutions designed to meet the varied needs of a broad universe of investors across the globe. PanAgora offers a distinguished suite of alternative and benchmark relative strategies across a wide array of asset classes. All of PanAgora’s investment capabilities are built upon a foundation of innovative research, combining fundamental intuition with disciplined, systematic techniques to efficiently identify and capitalize on investment opportunities. We believe the integration of in-depth fundamental insights with the breadth of quantitative techniques will generate more attractive absolute and/or risk-adjusted returns over time. In addition to providing attractive investment solutions, we are committed to providing our clients with exceptional service including timely communication, education, and a level of transparency that we believe is unparalleled in the industry.

Web - http://www.northstreetfundservices.com PanAgora Asset Management 470 Atlantic Avenue, 8th Floor Boston, MA 02210, United States Robert Job Head of Global Distribution Phone: 617 439 6359 Email: rjob@panagora.com

Simply put, we are an investment firm that cares for clients by putting their interests first.

We are owned and managed in a way that best serves them - not ourselves. We do not serve shareholders. We do not serve a corporate parent or a distant board of directors. We serve our clients.

We are an employee owned firm with $2 billion of assets under management. Our investment professionals have an average of 27 years experience and the average length of our client relationships is roughly 20 years.

LS Investment Advisors 39533 Woodward Avenue, Suite 302 Bloomfield Hills, MI 48304 Phone: (248) 430-0262 Fax: (248) 646-3317 http://lsinvestmentadvisors.com/index.html

Quality Capital Management Ltd (QCM) is a UK based systematic global macro hedge fund manager. The company, founded in 1995, is regulated in the UK by the FCA and registered in the US with the CFTC and NFA as a CTA and CPO. QCM actively manages investments for its investors by applying its proprietary systematic global macro strategy to a diverse set of liquid and listed futures markets traded on major global exchanges. Through a seamless investment process, the strategy attempts to generate a non-correlated and sustainable source of absolute return with a strong focus on long run wealth creation.

QCM’s core strategy is offered through two portfolios, the QCM Global Diversified Programme (GDP) and the Alpha Financials Programme (AFP). The QCM GDP trades globally in 116 financial and commodity futures across Equities, Bonds, Currencies and Commodities. The QCM AFP trades 56 financial futures across Equities, Bonds and Currencies.

Quality Capital Management Ltd. QCM House, Horizon Business Village 1 Brooklands Road Weybridge, Surrey KT13 0TJ U.K. Phone: +44 (0)1932 334400 Fax: +44 (0)1932 334415 Email: info@qualitycapital.com Web: http://www.qualitycapital.com

www.acquisition-intl.com

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2014 International Fund Awards | 33

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International Fund 100 - Fixed Income

RCM Alternatives - specializes in managed futures products and investments for high net worth individuals, registered investment advisors, broker-dealers, family offices, pension funds and endowments. Whether you are looking to diversify your portfolio with a direct investment, or develop your own product, RCM Alternatives can create your customized solution.

At RCM Alternatives, a division of RCM Asset Management, we’ll work with you to find the right fit for your trading style, market access requirements and asset allocation preferences.

As an independent boutique in the alternative investment industry, we can provide access to multiple futures clearing firms so that you can find the exact fit you need.

621 S. Plymouth Court, Floor 1 Chicago, IL 60605 Telephone: 312-870-1500 Email: info@rcmassetmanagement.com Web - http://www.rcmalternatives.com

Seix does one thing and does it well: Managing fixed income investments Founded in 1992, Seix maintains its focus on providing fixed income strategies for institutional investors around the globe.

Clearly defined investment style Seix employs a clearly defined investment style and philosophy, utilizing a fundamental approach that is bottom-up focused and top-down aware.

Our team of seasoned fixed income portfolio managers executes the process with the support of a team of career analysts.

We are big enough to matter but small enough to remain nimble in each of the investable fixed income sectors. This crucial combination has helped Seix generate highly competitive absolute, relative and risk-adjusted returns over multiple market cycles.

Institutional clientele Our primary focus is managing fixed income assets for institutional clientele. The organization’s efforts and resources are devoted to this crucial asset class and this important investor type.

Seix Investment Advisors LLC 10 Mountainview Road, C-200 Upper Saddle River, New Jersey 07458, USA TEL: +1 201 391 0300 FAX: +1 201 391 5023 http://www.seixadvisors.com/

Rothschild’s Global Financial Advisory business is a world leader in the provision of impartial, expert advice and execution services to governments, corporations, institutions and individuals.

With approximately 900 advisers in 40 countries around the world, our scale, reach and local knowledge is focused on supporting clients wherever they need us.

An unparalleled network of global knowledge is at the heart of our business. We use our collective intellectual capital, specialist sector and product expertise, and wealth of experience to deliver the best long-term solutions for our clients.

Having advised on more deals than any other adviser in our core markets, we have an unrivalled track record of advising clients on mergers, acquisitions and disposals, strategy, and corporate governance. We are also the market leader in providing independent advice on debt and equity financing, and on how to restructure a business.

Schroders plc is a public company, one of the 100 largest companies listed on the London Stock Exchange (SDR). We are a firm with a 200-year legacy and a proud tradition of excellence - in products as well as service.

We are a global asset management firm with investment and client service professionals in dozens of local markets worldwide. By leveraging these local resources, we can deliver domestic as well as international strategies, and a range of asset management services, to any client in any region.

In North America, Schroders offers a range of equity, fixed income, and alternative investment products. Our primary clients include: l l l l l

Public and private pension plans Endowments and foundations Family offices Financial intermediaries and advisors Individual investors

You expect great service, high-quality fixed income investments and the expertise that helps your clients meet their investment objectives - and that’s what SeaCap is known for. We are dedicated solely to active portfolio management in the fixed income sector, and develop custom portfolios and investment solutions tailored to your specific client needs. Learn more about our services.

Our investment philosophy adds value by emphasizing the important and predictable factors that drive fixed income portfolio performance while preserving value by mitigating the important but unpredictable market risks. With these factors as the cornerstone of our philosophy, we can focus on adding value to fixed income portfolios and work to minimize risk.

Our investment process is disciplined, quantitative and risk-sensitive, providing consistency and predictability of results.* Each step is based on a detailed analysis of objectives and tolerance for risk.

You’ll find that your investments are in the hands of a dependable team of true professionals in fixed income whose interests are aligned with yours and your clients. We have extensive experience in fixed income securities that - combined with our expertise, insight and institutional market access - makes us the right choice.

Rothschild’s Global Financial Advisory 1101 Connecticut Avenue NW Seventh floor Washington DC USA 20036 Telephone: +1 202 862 1660 Fax: +1 202 862 1699 http://www.rothschild.com/contactus/

Schroder Investment Management North America Inc. 875 Third Avenue, 22nd Floor New York, NY 10022- 6225 United States of America +1 212 641 3830 www.schroders.com/us

As a boutique wealth management consultancy, Sovereign Wealth Advisory is committed to providing an exceptional personal service to all its private clients and their families, alongside its array of corporate clients.

Sunrise Advisors is an independent, “fee-only” Registered Investment Advisory firm that provides continuous asset management and financial planning services to individuals, families, foundations and businesses. Sunrise Advisors, Inc. was established in 1993 on the principle that an advisor and investor should have the same ultimate purpose – to protect and grow assets. This core belief is the foundation for our “fee-only” ideology and the basis for our desire to remain an independent, unbiased partner in our investment advisory and planning relationships.

Headquartered in Zurich and Basel, UBS is a global firm providing financial services to private, corporate and institutional clients.

Sunrise Advisors is also a multi-generational, family-owned business. We believe our unique perspective enables us to better serve families as they accumulate, manage and transfer their wealth. We have found that the continuity in our organization is comforting to our clients as we prepare for and manage their assets for the future.

UBS https://www.ubs.com/global/en.html

At Sovereign Wealth Advisory, we inspire a culture of creativity and pioneering forward ways of thinking, so that even the most complex and demanding issues are resolved in an optimal yet professional manner.

We are dedicated in providing sound, honest and independent financial advice, whether it be for you as an individual, your family, or be it your business – our objective is consistent, we will deliver innovative solutions, that are based on professional, honest advice you can trust.

Our team of financial planners have the expertise and experience of advising in all areas of financial planning. The founding of our advice is based on real personal insight and professional expertise through our industry knowledge and a philosophy of continuous improvement.

Suffice to say we treat business like professionals, we treat clients like family and we are incredibly passionate about doing our job well.

SeaCap Investment Advisors 701 Fifth Avenue, Suite 4050 Seattle, Washington 98104 Fax: (206) 654-0499 lnichols@seacapinvests.com (206) 654-0480 http://www.davidsoncompanies.com/seacap/

UBS is present in all major financial centers and has offices in over 50 countries.

UBS employs approximately 60,000 people around the world.

UBS’s historical roots stretch back more than a century.

Sunrise Advisors, Inc. 3710 W. 135th Street Leawood, Kansas 66224 (913) 681-0215 (888) 212-5741 info@SunriseAdvisors.com http://www.sunriseadvisors.com/index.htm

Sovereign Wealth Advisory 1st Floor |19 New Walk Leicester |LE1 6TE Tel: 0116 254 5060 enquiries@sovereign-advisory.co.uk http://www.sovereign-advisory.co.uk/

www.acquisition-intl.com

34 | 2014 International Fund Awards

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International Fund 100 - Hedge Fund

Founded in Williamsburg, Virginia, USA, 1900 Investments is an alternate investments asset firm that specializes in providing single security, long/ short strategies to ultra-high net worth, family office fund of funds, endowments, registered investment advisors and pension plans on a global basis.

1900 Investments Asset Management, LLC 801 Northpoint Parkway, Suite V133, West Palm Beach, FL 33407 Web: http://www.1900investments.com/ Phone: (561) 721 6403 Email: Info@1900Investments.comAddress

361 Capital is an investment firm specializing in liquid alternative investments. Founded in 2001, it has a long history of managing alternative investment portfolios for major institutions, financial intermediaries, and wealthy individuals.

This experience has provided 361 Capital with a deep understanding of the strategies that make up alternative investing, including managed futures, long/short equity, multi-strategy, and market neutral.

Our goal is to raise the profile and attract assets under management for talented investment firms.

Today, the team relies on their experience in creating transparent alternative investment solutions that feature daily or weekly liquidity in mutual funds, separately managed accounts, and hedge funds. In 2012, 361 Capital expanded its capabilities through a strategic partnership with Lighthouse Partners, a $7 billion hedge fund of funds. This relationship has allowed 361 to enhance their research capabilities, improve existing products, and expand their mutual fund offerings.

Investors: We offer in-depth and detailed knowledge of unique investment management firms not offered by traditional intermediaries with the objective view of an outside professional. All managers are fully vetted. Investors use us as a resource for manager searches and industry trends.

361 Capital is a pioneer in delivering innovative alternative investment strategies that meet the needs of its clients.

361 Capital 4600 S. Syracuse Street Suite 500 Denver, CO 80237 Web: www.361capital.com Phone: 866-361-1720 Email: 361info@361capital.com

Adaws Capital, LLC is a Delaware registered asset manager providing investment opportunities to a global audience of qualified and accredited investors.

Advanced Fund Administration, with offices in the United States and Cayman Islands, is a privately owned SSAE 16 compliant hedge and private equity fund administrator.

Our flagship product, Adaws Eagle Fund, LP offers the investor a fixed income strategy by shorting premium using credit spreads. These non-directional plays allow time decay (theta) to generate returns.

AFA offers comprehensive and cost effective fund administration, advisory and consulting, and legal services to onshore and offshore funds of all sizes, structures, and investment strategies, and partners with its clients throughout the fund lifecycle and beyond.

We work for you to grow and safeguard your investment by employing some of the brightest hedge fund players in the industry.

We watch your investments like an eagle, via specialized research knowledge into the market internals and behaviors that affect the markets.

Adaws Capital, LLC 480 6th Avenue Suite 221 New York, NY 10011 USA Phone: (718) 355-9310 Email: ny-office@adaws.com PO Box 4113 Shellharbour NSW 2529 AUSTRALIA Phone: (02) 8011-4362 Email: syd-office@adaws.com Web: http://www.adaws.com/

www.acquisition-intl.com

AFA’s highly qualified staff and state-of-the-art technology provides a level of reporting and transparency that is unrivalled. AFA’s utilization of straight-through-processing eliminates excel workarounds and double entry which translates to exceptional quality of service at very competitive rates.

Advanced Fund Administration AFA (Cayman) Ltd. 122 Mary Street, 5th Floor, Zephyr House Grand Cayman KY1-1109 CAYMAN ISLANDS Phone: +1(345) 943 4232 (345 943 4AFA) Fax: + 1(345) 943 4231 Email: info@advancedfundadministration.com Advanced Fund Administration AFA (USA) LLC. 51 Summit Avenue Summit, NJ 07901 United States of America Phone: (908) 273 4545 Fax: (908) 273 4556 Email: infousa@advancedfundadministration.com Web: www.advancedfundadministration.com

Managers: Gain instant access to the right investors in the verticals that make the most sense for your strategy. Our proactive marketing process allows you to better manage your time, meet new clients, and focus on investing while we maintain relationships.

4peaks Capital 20555 North Pima Road, Suite 100, Scottsdale, AZ 85255 Web: http://www.4peakscapital.com/ Phone: 480.563.2047 Fax: 480.563.2001 Email: info@4peakscapital.com Twitter: @4Peaks3PM

Founded in New York City in 1986 by Joseph P Acquavella, Santo Chiarelli, and Samuel Shuster, combining diverse backgrounds from national and mid-size accounting firms, the internal revenue service and private industry.

As business and financial consultants we solve problems creatively and effectively. As accountants and auditors, we provide technical expertise, insight, and service of the highest quality.

ACS have the resources and personnel to resolve the most complicated tax, auditing and accounting issues, providing personal attention, responsive service, and senior management involvement.

ACS is meeting the challenges of the 21st century with a continuously expanding breadth and depth of services.

Acquavella, Chiarelli, Shuster, LLP New Jersey 517 Route One South Suite 4103 Iselin, NJ, 08830 Phone: 732-855-9600 New York One Penn Plaza, 36th Floor New York, NY 10119 Phone: 212-867-1319 Web: http://www.acsaccounting.com/

The Argent Group offers a unique approach to investing in tangible and hard assets, which should be part of every investment portfolio. We provide a diversified array of programs to allow investors maximum returns without the risk associated today with paper promises and guarantees.

Financial Insurance is only as good as what lies behind the guarantee. Hard assets, such as rare collectible coins and precious metals have a track record, in times of financial disaster, of leveling the playing field.

The Argent Group Bob Higgins - Managing Member Chief Numismatist - Rare Coin Fund Manager rhiggins@theargentgroup.com www.theargentgroup.com 302-765-3352 Office Corporate Headquarters 100 Todds Lane Wilmington, DE. 19802

Agecroft Partners is a global award winning consulting and third party marketing firm which specializes solely on hedge funds.

Our Mission is to raise assets on a global basis for successful hedge fund managers through intelligent deployment of our industry knowledge and utilizing a consultative approach within the institutional investor community.

Agecroft Partners Contact: Donald A Steinbrugge, CFA, Managing Partner Phone: 804.355.2082 Email: donsteinbrugge@agecroftpartners.com research@agecroftpartners.com Web: http://agecroftpartners.com/index.html

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2014 International Fund Awards | 35

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International Fund 100 - Hedge Fund

Our systematic application of fundamental research principals is designed to generate sustained and attractive returns over time with moderate volatility.

We apply thoroughly back tested proprietary factors across a broad base of individual stocks and construct a market-neutral portfolio taking into consideration trading costs and other risk constraints.

With very low correlation to other major asset classes, the Colombard Fund improves the risk/ return profiles of traditional portfolios dominated by equity and debt holdings.

Alambic Investment Management 655 Montgomery Street, Suite 1905, San Francisco, California 94111 Web: http://www.alambicim.com/ Phone: +1 415 495 4900 655

Apex Corporate Services ACS, LLC specializes in creating new turn-key funds, start ups and fund consulting services delivering volume discounts from its service providers, supplying everything you need to get your fund up and launched at a fraction of the cost.

There are 26 key components Apex brings together for you at a nominal cost compared to trying to figure all of this out on your own and incurring the high costs associated with launching your fund on your own. We supply all of the components and oversee the entire process for you, turn-key at a fraction of the cost.

Apex Corporate Services ACS, LLC 1035 Primera Blvd, Suite 104, Lake Mary, Fl 32746 Contact: Bob Agostini Phone: 954-558-3362 Fax: 407-218-5246 Email: bob@apexcorporateservices.com Web: www.apexcorporateservices.com

Apex Fund Services is one of the world’s largest independent fund administration companies with over $26bn of AUM. Apex is unique in its ability to reach globally, service locally and provide cross-jurisdictional solutions and best practices, providing the highest levels of personalized services.

Apex provides a full suite of products and services ranging from fund set up, portfolio valuations, fund accounting, shareholder services, directorships and listing sponsorship. With its order management and portfolio management systems together with its middle office services Apex is a total fund solutions provider.

Apex Fund Services Contact: PeterHughes, CEO and Founder Phone: +44 778 099 7609 Email: peter@apex.bm Contact: Thalius Hecksher, Global Managing Director of Business Development Phone : +1 786 877 1923 Email: thalius@apexfunds.us Web: http://www.apexfundservices.com/

Aquamarine Fund is an investment partnership inspired by original 1950′s Buffett partnerships launched in 1997 by managing partner Guy Spier.

An ardent disciple of Buffett, Mr Spier closely follows his principles on value investing and capital allocation.

Fund assets have grown steadily, mostly through internally generated returns while evolving to a set of operating principles quite different to the standard modus operandi of most mutual funds and hedge funds.

Salient aspects: • Funds are managed solely by Guy Spier Funds can invest in any publicly traded security • • No management fees are charged until the fund delivers an annualized 6% return.

Returns above 6% are split in a 3:1 ratio between limited partners and the managing partner after fund expenses • Holdings are only disclosed to the extent required by law. Limited partners and shareholders receive a set of financials once a year, audited by Deloitte and Touche • Redemptions are permitted once per year on the anniversary of the investment with at least 60 days’ advance notice Aquamarine Capital Management Name: Guy Spier, managing partner Email: gspier@aquamarinefund.com Web Address: www.aquamarinefund.com Address: Aquamarine Capital, 18 Rämistrasse, Zürich 8001, Switzerland Telephone: 001 212 716 1350

Founded in 1993 and specializes in providing alternative investment solutions, including creating and managing portfolios of hedge funds using a disciplined, research-driven investment process.

In addition, Arden also offers risk aggregation and advisory services and has been establishing and managing customized portfolios for investors, with specific guidelines determined by the client’s individual needs.

Arden is an investor-led business, managing customized hedge fund investment portfolios for large institutional investors. Arden’s core investment process is characterized by selecting managers that offer compelling investment opportunities in the short and medium term through bottom-up research combined with top-down market assessment.

Arden Asset Management New York HQ Arden Asset Management LLC 375 Park Avenue, 32nd Floor New York, NY 10152 MAP IT Phone: +1-212-751-5252 Fax: +1-212-751-8546 Email: managerresearch@ardenasset.com

Arendt & Medernach is the leading independent business law firm in Luxembourg. The firm’s international team of legal professionals represents Luxembourg and foreign clients in all areas of Luxembourg business law from offices in Dubai, Hong Kong, London, Moscow and New York.

Our specialised practice areas allow us to offer a complete range of Luxembourg legal services tailored to client’s individual needs across all areas of business law.

We advise international and domestic clients in all areas of business law relevant to their business activities, ranging from fund formation, banking, insurance, private equity, real estate to corporate and tax matters.

Arendt & Medernach 14, rue Erasme L-2082 LUXEMBOURG LUXEMBOURG Phone: (352) 40 78 78 1 Fax: (352) 40 78 04

A full-service accounting and advisory firm with specialized professionals who connect with you and your business through refreshing candor and clear industry insight.

Our focus on industry and services specialization means you can expect to work with business advisors who understand your competitive environment and the issues you face.

Exceptional client service is what separates us from the rest. We ask. We listen. We hear you loud and clear. Learning about you, your organization, and your expectations is critical to our relationship because your definition of satisfaction is the only definition that matters.

Baker Tilly One Penn Plaza, Suite 3000, New York, NY 10119 United States Contact: Barry H Garfield, Managing Partner Phone: 212 697 6900

Battea – Class Action Services’ entrepreneurial roots grew out of a proprietary trading firm. In the mid-1990s, a successful San Francisco options trading company began receiving numerous notices for securities class action settlements.

Class Action Services is the industry leader in securities class action claims recovery for institutional investors, including hedge funds, asset management firms, sovereign and pension funds, endowments and family offices. A full-service, outsourced solution, Battea experts manage the entire securities class action award recovery process, from calculating recognized loss for every claim through the confirmation, receipt and delivery of settlement payouts.

Battea Three Stamford Landing 46 Southfield Avenue, Fourth Floor Stamford, CT 06902 Phone: 203.987.4949 Fax: 203.353.9898 http://www.battea.com

Web: http://www.bakertilly.com/ Web: http://www.arendt.com

Web: www.ardenasset.com

www.acquisition-intl.com

2014

36 | 2014 International Fund Awards

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International Fund 100 - Hedge Fund

Greylock Capital specializes in event-driven, absolute return strategies in the global credit markets, investing in undervalued, distressed, and high yield assets worldwide.

Greylock Capital’s investment team seeks to identify under-analyzed and inefficient markets, and extracts value through strategies built on years of international restructuring experience and on-the-ground investment analysis. Greylock Capital emphasizes capital preservation and growth through prudence, value investing and strategic hedging.

Greylock Capital is comprised of 19 professionals, including 10 investment professionals and 9 infrastructure professionals. Greylock Capital has a full institutional platform, with offices in New York, Singapore and Ghana.

Greylock Capital Management, LLC Charles L. Halsey marketing@greylockcapital.com www.greylockcapital.com (212) 808-1846

Kinsale Capital Management is a value-focused investment management firm managing portfolios for a range of international and domestic families, endowments and pension funds.

Since 2009, IMQubator (IMQ) has led the way in developing a new generation of alternative investment managers. IMQ is a business predicated on taking an end-investor perspective – the first hedge fund investment platform with this approach on all aspects of the investment process.

Backed by APG, the asset manager for Dutch pensions giant Stichting Pensioenfonds ABP, IMQ is a cornerstone investor in promising emerging managers, matching talent and capital in a unique moment of long term alignment of interests. IMQ’s focus is on innovative and absolute return oriented managers with asymmetric return profiles and strong risk discipline.

ISIS is a specialist fund administrator headquartered in Bermuda with offices in the US and Cayman Islands. The company offers fund administration and middle office services to funds that employ various investments strategies. In 2011, ISIS and the Horseshoe Group formed an administration company called ILS Fund Services that provides independent valuation and administration services to funds investing in insurance linked securities. ISIS’ emphasis on advanced technology, experienced staff, strong control environment, and superior client service have made ISIS a leader in fund administration.

IMQ Investment Management B.V. P.O. Box 75926 1070 AX Amsterdam The Netherlands

ISIS Global Sales 1-704-927-1860 Bermuda 1-441-295-8282 Charlotte 1-704-927-1859 New York 1-646-801-5640 Cayman 1-345-945-0982

Email: information@imqubator.com

Web: http://www.isisfunds.bm

Web: http://www.imqubator.com

Kinsale Capital Management manages Kinsale Compass Fund, a Global Equity Value Fund, which launched in November 2011. As of the end of 2013, the Kinsale Compass Fund was up 37.54% after all fees since inception. The Fund is conservatively managed, as evidenced by this return being achieved with an average cash holding of 37.3% since inception.

Landry Investment Management was founded in 2002 by veteran investment manager Jean-Luc Landry. Jean-Luc is recognized as a pioneer in price momentum investing. In 2012 he was joined

by Benoit Brillon, one of the Brendan Woods ‘Top Gun’ managers of 2010.

Kinsale Compass Fund won Global Equity Fund of the Year (up to $500m) at the EuroHedge Awards 2013 having been nominated as New Equity Fund of the Year at the 2012 awards.

The Kovitz Investment Group® 115 South LaSalle Street, 27th Floor, Chicago IL 60603

Landry Investment Management 1010 Sherbrooke Street West, Suite 2105 Montreal (Quebec) H3A 2R7

Kinsale Capital Management will launch a new value-focused fund, Kinsale Navigator Fund, in April 2014. Kinsale Navigator Fund will follow a broadly similar value investment strategy to Kinsale Compass Fund.

Phone: 312.334.7300 Fax: 312.334.7308

http://www.kinsale-capital.com Phone: +353 1 9022 930 Email: info@kinsale-capital.com

www.acquisition-intl.com

The Kingdom Trust Company Toll Free: 888 753 6972 Email: help@kingdomtrustco.com Web: https://www.kingdomtrustco.com

The Kovitz Investment Group’s® approach to investing in equities is based on the methodology pioneered by Benjamin Graham, and as further developed and modified by Warren Buffett and Charlie Munger of Berkshire Hathaway.

Mr. Graham distilled the secret of sound investment in three words: ‘Margin of Safety’. This simple concept has become the cornerstone of the KIG’s ® investment philosophy. While we strive to maximize return, we believe that the primary and overriding investment criterion should be safety of principal with a focus on minimizing permanent loss of capital.

Kinsale Capital Management Limited Block E, Iveagh Court, Harcourt Road, Dublin 2, Ireland

The Kingdom Trust Company is an independent qualified custodian working with financial institutions. We strive to provide the most flexible and innovative custody solutions for investment sponsors, family offices, advisory firms, broker-dealers, and investment platforms for crowd funding and secondary markets. We offer fund PIV custody compliant with Dodd-Frank legislation, escrow services, as well as alternative asset custody for self-directed IRAs and other qualified and taxable accounts. We work closely with fund lawyers, compliance firms, administrators, auditors, prime brokers and other investment-related firms to meet the IRS and Dodd-Frank custody requirements for their clients.

Benoit adds significant value to the Landry portfolios by adding his fundamental analysis and ‘value bias’ to quantitative stock selection. The objective of Val-Mo investing is to provide investors with top performing portfolios regardless of the stock market cycle.

Phone: 514 985-1138 Toll Free: 1 866 985-1138 Fax: 514 282-1123 Email: info@landryinvest.com

Web: http://kovitz.com http://www.landryinvestmentmanagement.com

LatAm Alternatives is a financial services company and an independent third party advisor boutique established in 2010. Our headquarters is located in Fort Lauderdale, South Florida, commonly known as The Gateway to Latin America.

We are a team of professionals with a focused expertise in the alternatives and traditional global asset management instruments. We believe in long term relationships while representing the most outstanding managers in targeted strategies.

Also, through our unique educational and consulting products (mostly in Spanish) we are helping investors, investment professionals, regulators and students to upgrade their skills into the important alternative and traditional investment industry.

LatAm Alternatives 1950 North Commerce Parkway, Suite 2 Fort Lauderdale, Florida 33326 Phone: 954-642-8527 E-mail: info@latamalternatives.com Web: http://www.latamalternatives.com

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2014 International Fund Awards | 37

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International Fund 100 - Hedge Fund

LCM Global Partners is an asset management firm, based in Tampa Florida, specializing in alternative investments including hedge funds, private equity and non-traditional disciplines that access the broad investment markets.

LCM Global Partners steadfastly adheres to the philosophy of aligning the firm’s interests with that of our co-investing partners. Furthermore, the principals of LCM Global Partners have a significant investment of personal capital in all of our funds and investment offerings. Excellence in financial stewardship is the firm’s focus and passion.

LCM Global Partners 100 South Ashley Drive Suite 2100 Tampa, FL 33602 Contact: Sheri Benson Phone: 813.972.0909 Fax: 813.971.9307 Email: sbenson@lcmgp.com

RJL Partners Large Cap Value Fund is an equity fund concentrated in the large cap sector. The issues in the portfolio will range from $1bn to $300bn market cap. The number of individual companies will be 120-200 in the portfolio. The investment objective is to create a portfolio of quality US based companies which in aggregate produce greater returns than the overall market.

We will not limit ourselves to any particular universe or sector.

Lee Capital Management Contact: Ronald J Lee, General Partner Phone: (310) 791-3888 Fax: (310) 791-3889 Email: ronlee@rjlpartners.com Contact: Shelly Norris, Chief Financial Officer Phone: (310) 791-3888 Fax: (310) 791-3889 Email: lcm2@cox.net Web: http://rjlpartners.com

LICCAR – is both an alternative fund administrator and a full-service public accounting firm which specializes exclusively in the securities and futures industry.

Located in the heart of Chicago Financial District, the firm is primarily comprised of CPAs and MBAs with experience in the industry as well as numerous academic and professional achievements.

We currently serve a wide variety of Hedge Funds, Commodity Pools, Private Investment Funds, Commodity Trading Advisors, Registered Investment Advisors, Broker-Dealers, Introducing Brokers and Futures Commission Merchants.

LICCAR 231 South LaSalle Street Suite 650 Chicago, Illinois 60604

The investment company which bridges the allocation gap. We deliver the highest standard economies of scale to smaller and emerging managers through providing all operational and marketing aspects of their businesses. Rewards are in direct proportion to AUM and performance.

The empirical data is clear that there is indeed a performance gap with smaller, younger funds relative to larger and more mature funds. To that end, a 2012 PerTrac study concluded the following: The Los Angeles Investment Company Phone: 626-318-6003 Phone: 213-270-0341 Email: info@losangelesinvestmentcompany.com http://www.losangelesinvestmentcompany.com

Office: (312) 922-6600 Toll Free: (800) 922-6604 Web - https://www.liccar.com

Web: http://www.lcmglobal.com

VPB Namibia (Proprietary) Limited (‘VPB’) is a Private Equity and Venture Capital Fund Manager established in 2009.

VPB is domiciled in Windhoek, Namibia. The VPB maiden fund in Namibia, VPB Namibia Growth Fund is the 2010 vintage, 10-year closed-end with N$160 million in committed capital from institutional investors. The Fund Manager has its holding company based out of Gaborone, Botswana.

The Fund Manager has well-defined systems and processes for transaction origination, management of the investment process, portfolio management and Investment realisation.

The Fund Manager enjoys the successes that the team has achieved in doing business in the SADC region with the Group’s maiden fund in Botswana recording superior returns on some exits.

VPB is a proud member of the African Venture Capital Association (AVCA), and the South African Venture Capital Association (SAVCA).

www.venture-p.com www.acquisition-intl.com

38 | 2014 International Fund Awards

and the winners are...

Australia Austin Engineering Limited Australia Future Fund Clayton Utz Gpt Group Henry Davis York Herbert Smith Freehills Herbert Smith Freehills Mesoblast NWQ Capital Management Pacific Equity Partners PwC Australia QIC Technology Venture Partners Pty Ltd

Austria Absolute Portfolio Management Ltd

Engineering Sector Fundraising of the Year - Australia Future Funds Management Agency of the Year - Australia Integrated Funds Management Law Firm of the Year Australian Fund of the Year - GPT Wholesale Office Fund Hedge Funds Law Firm of the Year - Australia Property funds Law Firm of the Year - Australia Private Markets Investment Funds Lawyer of the Year - Australia Healthcare Sector Fundraising of the Year - Australia Boutique Investment Services Firm of the Year - Australia Private Equity Fund Manager of the Year - Australia Most Respected Funds Advisory of the Year - Australia Global Infrastructure Firm of the Year – Australia Technology Investment firm of the Year - Australia

Alpine Equity Management ARC fair-finance Vorsorgekasse AG Schoenherr Bahrain Bahrain Mumtalakat Holding Co BMB Investment Bank

Sovereign Wealth Fund of the Year - Bahrain Outstanding Contribution to Investment - Bahrain

Belgium ALTIUS ALTIUS ALTIUS Belgacom Pension Fund Brederode Groupe Bruxelles Lambert Bermuda Altree Custody Services Equinoxe Alternative Investment Services Ltd

Brazil Levy & Salomão Advogados Mattos Filho Veiga Filho Marrey Jr e Quiroga British Virgin Islands Drake Fund Advisors Limited Maples and Calder Walkers

Brunei Brunei Investment Agency Bulgaria Penev LLP

www.acquisition-intl.com

Fund Manager of the Year - Burundi

Cameroon Atanga Law Office

Law Firm of the Year - Cameroon

Canada Dalfen America Corporation Inter-Act Management Inc McCarthy Tétrault McCullough O’Connor Irwin LLP Middlefield Middlefield Canadian Income Osler Hoskin & Harcourt

Cayman Islands Campbells JP Fund Administration Maples Fund Services

Most Respected Mutual Funds Administrator of the Year - Austria Private Equity Firm of the Year - Austria Investment Advisory Firm of the Year - Austria Pension Fund of the Year - Austria Investment Funds Law Firm of the Year - Austria

Barbados Portland Private Equity

Burundi NITEREKA Deo

Solomon Harris Walkers Walkers - Ingrid Pierce

Channel Islands ACA Compliance (Jersey) Limited Active Group Close Fund Services Limited

Most Outstanding Contribution to Caribbean Investment - Barbados

Collas Crill Ogier Puritas Walkers

Banking & Finance Law Team of the Year - Belgium Investment Funds Lawyer of the Year - Belgium Most Respected Real Estate Law Firm of the Year - Belgium Pension Fund of the Year - Belgium Private Equity Investment Manager of the Year - Belgium Industrial Investment Firm of the Year - Belgium

Whitmill Fund Administration Limited

China CDH China Holdings Management Company CVC Asia Pacific Ltd Orangefield Hong Kong

Most Respected Custody Services Firm of the Year - Bermuda Most Respected Mutual Funds Administrator of the Year - Bermuda

Orangefield Hong Kong Zhong Yin Law Firm

Costa Rica Mesoamerica Energy Funds Law Firm of the Year - Brazil Investment Funds Law Firm of the Year - Brazil Cyprus C. Savva & Associates Ltd Offshore Fund Administration Firm of the Year - British Virgin Islands Fund Formation Law Firm of the Year - British Virgin Islands Investment Funds Law Firm of the Year - British Virgin Islands

Tufton Oceanic Ltd

Czech Republic Genesis Capital sro Norton Rose Fulbright

Sovereign Wealth Fund of the Year - Brunei

Most Respected Infrastructure Law Firm of the Year - Bulgaria

Real Estate Investment Firm of the Year - Canada Early-Stage Funding and Management Firm of the Year - Canada Pooled Funds Law Firm of the Year - Canada Investment Funds Law Firm of the Year - Canada Investment Advisory Firm of the Year - Canada Global Fund Manager of the Year - Canada Asset Management Law Firm of the Year - Canada

Most Respected Fund Adviser of the Year - Cayman Islands Most Respected Mutual Funds Administrator of the Year - Cayman Islands Family Office/Private Wealth Funds Services Provider of the Year - Cayman Islands Real Estate Law Firm of the Year - Cayman Islands Hedge Funds Law Firm of the Year - Cayman Islands Investment Funds Lawyer of the Year - Cayman Islands

Compliance Consultancy of the Year - Jersey Funds Support Services Firm of the Year - Guernsey Most Respected Mutual Funds Administrator of the Year - Guernsey Investment Funds Law Firm of the Year - Jersey Offshore Funds Law Firm of the Year - Jersey Bespoke Fund Administration Software Provider of the Year - Jersey Investment Funds Law Firm of the Year - Channel Islands Most Respected Mutual Funds Administrator of the Year - Jersey

Alternative Asset Funds Manager of the Year - China Most Respected Private Equity Firm of the Year - China Most Respected Fund Administrator of the Year - China Hedge Funds Administrator of the Year - China Most Respected Finance and Securities Law Firm of the Year - China

Private Equity Fund Management Firm of the Year - Costa Rica

Most Respected Fund Formation and Administration Firm of the Year - Cyprus Most Outstanding Fund Manager of the Year - Cyprus

Outstanding Contribution to SME Investment - Czech Republic Corporate Finance Law Firm of the Year - Czech Republic

2014 International Fund Awards | 39

Denmark ATP Private Equity Partners AUCTUS Management GmbH & Co KG Bankpension CVC Capital Partners Danmark A/S Kromann Reumert SEB Pension Egypt Faisal Islamic Bank of Egypt Future Energy Corporation (FEC) Europe Argos Soditic 3TS Capital Partners

Finland Finnish Industry Investment Investment Research Finland Nordea Funds Ltd The State Pension Fund (VER) France 24FX Global Advisors Alven Capital ERAFP Fondations Capital IFE Mezzanine Iris Capital PAI Partners PAI Partners Societe Generale Securities Services Turenne Capital Partenaires XAnge Private Equity

Germany Ärzteversorgung Westfalen-Lippe CGS Management AG Freshfields Bruckhaus Deringer Hengeler Mueller Hengeler Mueller PwC Germany Quadriga Capital

Gibraltar Vista Fund Services

Hong Kong Advantage Partners, LLP Asia Frontier Capital Deacons Dechert Hong Kong Monetary Authority

Most Respected PE Fund Investment Firm of the Year - Denmark Most Outstanding Contribution to SME Investment - Denmark Financial Sector Pension Firm of the Year - Denmark Global Industrial and Service Investment Firm of the Year - Denmark Investment Funds Law Firm of the Year - Denmark Pension Fund of the Year - Denmark

Iceland Frjalsi Pension Fund PWC Thule Investments India AZB & Partners ChrysCapital SAIF Partners India Trilegal

Most Respected Islamic Investment Bank - Egypt Energy Funds Consulting Firm of the Year - Egypt

Indonesia Soewito Suhardiman Eddymurthy Kardono (SSEK)

Most Outstanding Contribution to Mid Market Investment - France Central and Eastern European Republic Fund of the Year - 3TS Cisco Growth Fund

Ireland Accenture Defined Contribution Pension Plan Apex Fund Services Growcorp Group Ltd Standard Life Investments

Most Outstanding Contribution to Finnish Investment of the Year - Finland Most Respected Investment Research Firm - Finland Most Respected Fund Manager of the Year - Finland Pension Fund of the Year - Finland

Most Respected Commodity Trading Advisory of the Year - France Venture Capital Firm of the Year - France Pension Fund of the Year - France SME Investment Firm of the Year - France Investment Adviser of the Year - France Pan-European Venture Capital Investor of the Year - France French Fund of the Year - PAI Europe V Private Equity Firm of the Year - France Most Respected Investment Funds Administrator of the Year - France Independent Asset Management Firm of the Year - France PE and VC Fund Management Firm of the Year - France

Most Respected Mutual Funds Administrator of the Year - Gibraltar

Private Equity Fund Management Firm of the Year - Hong Kong Frontier Markets Fund Manager of the Year Investment Funds Lawyer of the Year - Hong Kong Alternative Investment Funds Lawyer of the Year - Hong Kong Exchange Funds Manager of the Year - Hong Kong

Real Estate Law Firm of the Year - India Fund Advisory Firm of the Year - India Most respected Private Equity Firm of the Year - India PE and VC Law Firm of the Year - India

Law Firm of the Year - Indonesia

William Fry

Pension Fund of the Year - Ireland Fund Administrator of the Year - Ireland Venture Capital Firm of the Year - Ireland Fund of Funds Management Firm of the Year - Ireland Investment Funds Law Firm of the Year - Ireland

Isle of Man MannBenham Advocates

Law Firm of the Year - Isle of Man

Israel Hamburger Evron & Co Magma Venture Partners New Generation Technology Vintage Venture Partners

Italy Laborfonds Orrick Wise SGR

Japan Advantage Partners, LLP bhp DonaldMl Mori Hamada & Matsumoto

Pension Fund of the Year - Germany German Focused Mid-Market Fund of the Year- CGS Investment funds Law Firm of the Year - Germany Real Estate Funds Law Firm of the Year - Germany Private Equity Funds Law Firm of the Year - Germany Most Respected Investment Funds Tax Firm of the Year - Germany Private Equity Investment Firm of the Year - Germany

Pension Fund of the Year - Iceland Most Respected Funds Advisory of the Year - Iceland Fund Manager of the Year - Iceland

Kazakhstan Norton Rose Fulbright

Kuwait EY Kuwait Investment Authority Muthanna Investment Company

Kyrgyzstan International University of Kyrgyzstan

Liechtenstein Valartis Fund Management AG

Luxembourg CACEIS EY

Most Respected Real Estate Law Firm of the Year - Israel Venture Capital Firm of the Year - Israel Israeli Venture Capital fund of the Year - NGT3 Fund of Funds Management Firm of the Year - Israel

Pension Fund of the Year - Italy Private Equity Law Firm of the Year - Italy Most Respected PE Closed-End Funds Manager of the Year - Italy

Private Equity Firm of the Year - Japan Outstanding Contribution to Biotechnology Investment - Japan Fund of Funds Investment Director of the Year - Japan Investment Funds Law Firm of the Year - Japan

Most Respected Investment Law Firm of the Year - Kazakhstan

Most Respected Audit and Accounting firm of the Year - Kuwait Sovereign Wealth Fund of the Year - Kuwait Most Respected Islamic Finance Advisory Firm - Kuwait

Most Outstanding Educational Institution of the Year - Kyrgyz Republic

Most Respected Fund Management Firm of the Year - Liechtenstein

Most Respected Mutual Funds Administrator of the Year - Luxemburg Most Respected Audit and Accounting firm of the Year - Luxembourg

www.acquisition-intl.com

40 | 2014 International Fund Awards

Vistra Fund Services Luxembourg

Madagascar PWC

Malaysia Adnan Sundra & Low Khazanah Nasional Berhad Malta Malta Stock Exchange SGGG Fexco Fund Services WDM International Mauritius Glenara Management Services OCRA

Mexico EF Financial Services Galicia Abogados Greenberg Traurig LLP PwC Mexico Rivera Belden Bravo y Garcia Sanchez SC

Netherlands Egeria Main Capital Partners BV Pensioenfonds Metaal en Techniek (PMT) PricewaterhouseCoopers University of Leiden

New Zealand Chapman Tripp DLA Phillips Fox New Zealand Superannuation Fund

Nigeria Global Network for Environment and Economic Development Research Norway Advokatfirmaet CLP DA Government Pension Fund Global Herkules Capital Norvestor Equity AS Oslo Pensjonsforsikring Schjødt Torkildsen & Co Wikborg Rein Poland Enterprise Investors Innova Capital MCI Management SA

www.acquisition-intl.com

Fund Formation & Administration Firm of the Year - Luxembourg

Most Respected Tax and Legal Advisory of the Year - Madagascar

Law Firm of the Year - Malaysia Sovereign Wealth Fund of the Year - Malaysia

Most Respected Mutual Funds Administrator of the Year - Malta Most Respected Alternative Strategy Funds Administrator of the Year - Malta Most Respected Legal Advisor for Funds - Malta

Most Respected Mutual Funds Administrator of the Year - Mauritius Most Respected Off-shore Funds Administrator of the Year - Mauritius

Portugal BPI Vida e Pensões Espanha e Associados Luis Miguel Amaral - Advogados/Lawyers Sociedade Rebelo de Sousa & Advogados Associados Qatar Qatar Investment Authority QInvest Simmons & Simmons Russia Da Vinci Capital Ligerion Group Orrick Steep Rock Capital

Rwanda Business Partners Limited Saudi Arabia Abdullatif Alissa Group Holding Co

Commodity Trading Advisory of the Year - Mexico Infrastructure and Project Finance Law Firm of the Year - Mexico Most Trusted Law Firm of the Year -Mexico Most Respected Legal & Tax Advisory Firm of the Year - Mexico Most Respected Real Estate Law Firm of the Year - Mexico

ACWA Power International Alkhabeer Capital Bait Al Mal Al Khaleeji (BMK) Manafea Holding Co Sedco Capital

Most Outstanding Contribution to Mid Market Investment - The Netherlands Benelux Fund of the Year - Main Capital III Pension Fund of the Year - The Netherlands Most Outstanding Customs & Global Trade Firm of the Year - The Netherlands Most Outstanding Educational Institution of the Year - The Netherlands

Fund Management Lawyer of the Year - New Zealand Funds and Superannuation Team of the Year - New Zealand Superannuation Fund Manager of the Year - New Zealand

Most Outstanding Commitment to Research - Nigeria

Sidra Capital

Sierra Leone ManoCap

Singapore Government of Singapore Investment Corp Shook Lin & Bok Stamford Law Corporation

South Africa Business Partners Limited Helios Investment Partners Musa Capital National Treasury of Government of South Africa RisCura Fund Services

PE and VC Funds Lawyer of the Year - Norway Sovereign Wealth Fund of the Year - Norway Most respected Private Equity Firm of the Year - Norway Investment Adviser of the Year - Norway Pension Fund of the Year - Norway Norwegian and Foreign Fund Formation Law firm of the Year - Norway Investment Funds Law Team of the Year - Norway Investment Funds Lawyer of the Year - Norway

Most Respected Private Equity Firm of the Year - Poland Outstanding Contribution to Mid-Market Investment in Central European Most Respected PE/VC fund of the Year - Poland

Pension Fund of the Year - Portugal Most Respected Cross Border Tax Firm of the Year - Portugal Real Estate Law Firm of the Year - Portugal Private Equity Law firm of the Year - Portugal

Sovereign Wealth Fund of the Year - Qatar Most Respected Islamic Fund Manager - Qatar Investment Funds Law Firm of the Year - Qatar

Global Fund Manager of the Year - Russia Onshore and Offshore Investment Funds Adviser of the Year - Russia Private Equity Firm of the Year - Russia Russian Fund of the Year - Steep Rock Russia Fund II

SME Fund of the Year - Rwanda

Investment Holding Company of the Year - Saudi Arabia Energy Investment Firm of the Year - Saudi Arabia Most Respected Sharia Advisory of the Year - Saudi Arabia Most Respected Private Wealth Management Company - Saudi Arabia Financial Investment Firm of the Year - Saudi Arabia Most Respected Asset Management firm of the Year - Saudi Arabia Most Respected Islamic Fund of the Year - Saudi Arabia

Sierra Leone Fund of the Year - Sierra Investment Fund

Sovereign Wealth Fund of the Year - Singapore PE/VC Law Firm of the Year - Singapore Funds Management Law Firm of the Year - Singapore

Venture Fund of the Year - South Africa Most Respected pan-African Private Equity Investment Firm of the Year Most Outstanding Contribution to Mid-Market Private Equity Investment - South Africa Most Outstanding Contribution to Financial Management - South Africa Retirement Fund Administration Firm of the Year - South Africa

South Korea Korea Investment Corporation MBK Partners

Sovereign Wealth Fund of the Year - South Korea Private Equity Firm of the Year - South Korea

Spain Allen & Overy Pensions Caixa 30, FP

Investment Funds Lawyer of the Year - Spain Pension Fund of the Year - Spain

Sweden Accent Equity Alfred Berg MANNHEIMER SWARTLING

Most Respected Investment Fund Adviser of the Year - Sweden Asset Management Firm of the Year - Sweden PE and VC Funds Law Firm of the Year - Sweden

2014 International Fund Awards | 41

Switzerland ALPHA Associates AG Credit Suisse PB & WM Product Development & Structuring Lombard Odier Pension Fund Niggli Rechtsanwälte Pictet & Cie PWC Quaesta Capital AG Roche Venture Fund Taiwan Formosa Transnational

Tanzania Norton Rose Fulbright

Trinidad and Tobago Heritage and Stabilisation Fund

Turkey Davutoglu Attorneys At Law European Bank for Reconstruction and Development (EBRD) Paksoy Pekin & Bayar Law Firm UAE Abraaj Capital Limited Abu Dhabi Investment Authority Abu Dhabi Investment Authority Dubai International Capital Gulf Capital Herbert Smith Freehills Herbert Smith Freehills LLP International Petroleum Investment Co Lunatus National Bank of Abu Dhabi Russell Investments UK 12 King’s Bench Walk 3i Group plc Addleshaw Goddard LLP Apache Capital Partners LLP Apex Fund Services Babson Capital Europe Ltd. Beringea LLP Bloomberg New Energy Finance Cabot Square Capital Coller Capital Ltd CVC Capital Partners CVC Capital Partners Digital Realty DN Capital Ebullio Capital Management LLP Environmental Technologies Fund - ETF Manager LLP European Bank for Reconstruction and Development (EBRD)

Fund of Funds Management Firm of the Year - Switzerland New Fund Launch of the Year - Switzerland Pension Fund of the Year - Switzerland Boutique Law Firm of the Year - Switzerland Most Respected Mutual Funds Administrator of the Year - Switzerland Fund Advisory Firm of the Year - Liechtenstein Most Respected Financial Services Provider of the Year - Switzerland Corporate Venture Fund of the Year - Switzerland

Everett Mitchell Ferranti Ltd FF&P Private Equity Freshfields Bruckhaus Deringer LLP HarbourVest Partners (UK) Ltd Henderson Equity Partners Ltd HgCapital LLP INDOS Financial Limited Intermediate Capital Group plc IPES (UK) Ltd Jupiter

Most Respected Real Estate Law Firm of the Year - Taiwan

Most Respected Investment Law Firm of the Year - Tanzania

KB Associates Legal & General UK Property Unit Trust Lemon Capital Milestone Capital Partners LLP MMC Ventures Ltd. MMC Ventures Ltd.

Sovereign Wealth Fund of the Year - Trinidad and Tobago

Mondrian Alpha Recruitment Solutions

Private Equity Law firm of the Year - Turkey Most Outstanding Contribution to Sustainable Energy Investment - Turkey Most Respected Real Estate Law Firm of the Year - Turkey Pension Funds Law Firm of the Year - Turkey

O’Connell Resourcing Octopus Ventures Ltd

Most Respected Private Equity Firm of the Year - UAE Most Innovative Investment Strategy of the Year - UAE Sovereign Wealth Fund of the Year - UAE International Investment Company of the Year - UAE Leading Alternative Investment Firm of the Year - The Middle East Private Equity Funds Lawyer of the Year - UAE Investment Funds Team of the Year - UAE Sovereign Wealth Fund of the Year - UAE Heath Care Marketing & Consulting Firm of the Year - UAE Most Respected Bank of the Year - UAE Most Respected Global Asset Manager - UAE

QC of the Year - UK Fund Investor Relations Team of the Year - UK Corporate Finance Lawyer of the Year - UK Most Outstanding Real Estate Investment Management Firm of the Year -UK Fund Administrator of the Year - UK Mezzanine and Private Equity Team of the Year - UK Venture Capital Investment Director of the Year - UK Energy Support Services Firm of the Year - UK Most Outstanding Contribution to SME’s in the UK and Western Europe - UK Most Outstanding Contribution to Secondaries Market Investment - UK Group Finance Director of the Year - UK Private Equity Firm of the Year - Luxemburg Global Data Center Solution Provider of the Year - UK Most Respected Venture Capitalist of the Year - UK Best Performing UK Commodity Fund of the Year - Ebullio FED Most Outstanding Environmental Technologies Fund of the Year - UK Most Outstanding Contribution to Central and South Eastern Europe Investment- UK

NGAM Alternatives Nova Capital Management

Old Park Capital Ltd Palamon Capital Partners Parkmead Group PLC Pension Protection Fund Pentech Ventures LLP Phoenix Fund Services Presentation Solutions Limited PwC Robert Quinn Consulting Ltd Slater Investments Sovereign Capital Thirty Nine Essex Street Trident Fund Services Trinity International LLP Trotman Taxation Services UK Ltd. Watersheds Corporate Finance

Ukraine Asters PWC

Uruguay Litwak & Partners

USA 3D Capital Management LLC Acceleration Capital Group, LLC ACON Investments Adaws Capital, LLC Advanced Arbitrage Concepts Agecroft Partners Alcion Ventures Ares Management LLC Asia West LLC Aviva Investors

Most Trusted Venture Capitalist of the Year - UK Venture Capitalist Firm of the Year - UK Asset Manager of the Year - UK New Funds Lawyer of the Year - UK Most Outstanding Contribution to Private Markets Investment - UK UK Infrastructure Fund of the Year - Henderson PFI Secondary Fund II LP Portfolio of the Year - UK Depositary-lite Services Firm of the Year - UK Credit Funds Management Team of the Year - UK Specialist Fund Administrator of the Year - Guernsey Most Respected Independent Funds Team of the Year - UK Boutique Offshore Funds Consulting Firm of the Year - UK UK Property Fund of the Year - UK Property Unit Trust (PUT) Private Equity Fund Provider of the Year - UK UK Most Trusted Equity Partner of the Year New and Follow-on Investments Team of the Year - UK Most Outstanding Contribution to Consumer and Media Internet Investment - UK Fund Professional Recruitment Firm of the Year - UK UK Alternative Investment Provider of the Year Most Respected Corporate and Private Equity Portfolio Acquirer of the Year - UK Hedge Fund Recruiter Specialist of the Year - UK UK Small Company Fund of the Year - UK Micro Cap Growth Fund Asset Management Firm of the Year - UK Service-Orientated Investment Firm of the Year - UK Most Outstanding Strategy of the Year - UK Pension Fund of the Year - the UK Most Outstanding Contribution to Technology Investment - UK Most Respected Closed Ended Funds Administrator of the Year - UK Software Consultancy Firm of the Year - UK Infrastructure Tax Team of the Year - UK Compliance Consulting Team of the Year - UK Overall Hedge Funds Manager of the Year - UK Most respected ‘Build and Buy’ Firm of the Year - UK Energy Law Team of the Year - UK Fund of Funds Administration Firm of the Year - UK Emerging Markets Law Firm of the Year - UK Expatriate Tax Firm of the Year - UK Corporate Finance Advisory Firm of the Year - UK

Capital Markets Law firm of the Year - Ukraine Most Respected Funds Advisory of the Year - Ukraine

Investment Funds Law Firm of the Year - Uruguay

Most Outstanding Commitment to Global Short-Term Systematic Trading Strategy - USA Hedge Fund Research and Consultation Firm of the Year- USA US Middle Market Buy Out Fund of the Year - ACON Equity Partners III LP Asset Management Firm of the Year - Delaware Sustained Excellence in Arbitrage - USA Most Outstanding Contribution to Third Party Marketing - USA Real Estate Private Equity Firm of the Year - Massachusetts Global Alternative Asset Manager of the Year Cross-Border Management Consulting Firm of the Year - USA Global Real Estate Multi-Manager - New York

www.acquisition-intl.com

42 | 2014 International Fund Awards

Berkus Technology Ventures LLC Blue Sage Capital Boston University Boyne Capital Partners LLC Brennan Investment Group Camkay Capital Management LLC Capital Commercial Investments Inc Catalyst Financial Partners LLC Catterton Partners CC Futures LLC County Cork LLC Doherty Advisors, LLC EDG Partners Emerging Manager Energy Ventures Inc Exvere Inc. FarSight Ventures Fifth Street Management LLC Finesa Real Estate Group

Five Mile Capital Partners Five Star Commodities and Options Inc. Ford Foundation Golub Capital Goodman Properties Greenberg Traurig LLP Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP Haynes and Boone LLP HedgeForward LLC High Road Capital Partners Hines Interests L.P. IBM Corp.

Insight Equity Holdings Inc Iris Cpaital Jackson Fund Services Jones Real Estate JP Morgan Katten Muchin Rosenman LLP Kennedy Wilson LEV Investments Lightstone Capital Meadprob4 MSF Capital Advisors Muzinich&Co.,Ltd. NewOak Capital LLC

US Early Stage Venture Capitalist of the Year Most Outstanding Contribution to Small Business Investment - Texas Most Outstanding Commitment to Education - USA Lower Middle Market Investment Firm of the Year - Florida Industrial Real Estate Investment Firm of the Year - Illinois Commodity Trading Advisor of the Year - Arizona Real Estate Investment Firm of the Year - Texas Most Outstanding Specialist Investor Events Firm of the Year - USA Most Outstanding Contribution to Mid Market Consumer Investment - USA Most Respected CFT Advisor of the Year - USA Independent Futures Broker of the Year - USA Risk Management Firm of the Year - USA Excellence in Entrepreneurial Support - USA US Emerging Manager Solutions Firm of the Year Energy Investment Firm of the Year - USA Strategic Assessment Firm of the Year - Washington Software Investment Firm of the Year - USA SME Alternative Asset Manager of the Year - USA Mid Atlantic Real Estate Private Equity Firm of the Year; Most Outstanding Contribution to Mid Atlantic Real Estate Investment; Real Estate Fund of the Year - Maryland; Real Estate Fund Manager of the Year - USA Alternative Investments Firm of the Year - USA Commodities & Option Specialist of the Year - USA Investment Portfolio Manager of the Year - New York Credit Asset Management Firm of the Year - USA Real Estate Development and Management Firm of the Year - Pennsylvania Real Estate Investment Trusts Law Team of the Year - New York Private Investment Funds Practice of the Year - USA International Business Law Team of the Year - Texas Most Innovative Proprietary Market Analysis Program of the Year - USA Private Equity Firm of the Year - New York Real Estate Investment Powerhouse of the Year - USA Business Development Fund of the Year - USA Automotive and Transportation Investment Firm of the Year - USA Most Outstanding Contribution to Service and Technology Investment - USA Most Respected Mutual Funds Administrator of the Year - USA Commercial Real Estate Management Firm of the Year - California Outstanding Contribution to Mutal Fund Management Distressed Property Law Team of the Year - USA Commercial Real Estate Investment Firm of the Year - California Multi-Family Unit Investment Firm of the Year - USA Most Respected Islamic Retirement Fund - USA Project Financing Services Firm of the Year - USA Most Outstanding Global Multi-Family office of the Year Sustained Excellence in Global Corporate Credit Asset Management - USA Fixed-income Asset Lifecycle Advisor of the Year - USA

Newport Wealth Management

Investment Office of the Year - USA

Northern Trust

Most Respected Mutual Funds Administrator of the Year - Illinois Information Technology Investment Firm of the Year - Connecticut Global Investment Team of the Year - USA Healthcare Fund Management Firm of the Year - USA

Oak Investment Partners OpenGate Capital LLC OrbiMed Advisors LLC

www.acquisition-intl.com

Pacific Community Ventures Pacifica Enterprises Parker Global Strategies LLC Prophet Equity Proskauer Rose LLP Real Estate Value Advisors LLC Rex Capital Group Sadis & Goldberg LLC Sadis & Goldberg LLP Schindler Capital Management Schultze Asset Management LLC Shared Enlightenment, Inc. Sharpe +Signa LLC Singerman Real Estate LLC South Street Partners SVB Capital Tannenbaum Helpern Syracuse & Hirschtritt LLP The Barbashop LLC Thomas J. Herzfeld Advisors Trivest Partners LP Typhon Capital Management, LLC UBS Realty Investors US Venture Partners Vantage Capital Management Viscogliosi Brothers LLC Viteos Fund Services W Capital Partners Wanxiang Group Vietnam AFC Vietnam Fund VCI Legal

Yemen Luqman Legal Advocates & Legal Consultants

US Small Business Fund of the Year - SAIL Fund Real Estate Investment Firm of the Year - California Most Outstanding Energy Hedge Fund of the Year - USA Most Outstanding Private Equity Firm of the Year - Texas Private Investment Funds Lawyer of the Year - USA Commercial Office Building Investment Firm of the Year - USA Boutique Real Estate Investment Firm of the Year - New York Offshore Hedge Funds Law Firm of the Year - USA Hedge Funds Law Firm of the Year - USA Alternative Investment Trading Firm of the Year - Minnesota Most Outstanding Distressed Securities Manager of the Year - USA Commodity Trading Advisor of the Year - Florida Boutique Absolute Return Manager of the Year - California Secondary Real Estate Investment Firm of the Year - Illinois Boutique Private Real Estate Investment Team of the Year - North Carolina Fund of Funds Firm of the Year - USA Investment Advisory Firm of the Year - USA Commodity Trading Advisor of the Year - Connecticut Closed-end Funds Advisory of the Year - Florida Niche Manufacturing Investment Company of the Year - USA Commodity Trading Advisor of the Year - Illinois Global Asset Management Firm of the Year - USA Most Outstanding Venture Capital Firm of the Year -USA Real Estate Fund of the Year - Texas Healthcare Investment Firm of the Year - New York Fund Administration and Management Firm of the Year - New Jersey Private Equity Liquidity Firm of the Year - USA Manufacturing Fund of the Year - USA

New Fund Launch of the Year - Vietnam Most Respected Real Estate Law Firm of the Year - Vietnam

Most Respected Legal Advisory Firm of the Year - Yemen

Fund Management Experts in Asia and Africa WINNER Asian Fund of Hedge Funds 2014

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