Jefferies: Activities

Leucadia Investment Management Limited (LIML) is a division of Leucadia National Corporation. LIML is an asset management company providing hedge fund investment opportunities in global equity event strategies.

Jefferies Global Research & Strategy provides thought leadership across the financial markets, offering valuable insights and actionable ideas to our clients on market strategy, economics, equity, fixed income, foreign exchange and commodities in the Americas, Europe and Asia.

Jefferies Research offering includes:
- Strategy & Economics
- Equity
- Fixed Income

Jefferies Fixed Income is comprised of a highly experienced team of sales, trading, capital markets, research and strategy professionals who provide best-in-class trade execution and 24-hour liquidity in the global markets, with the highest level of service to our clients. Jefferies is a leading market maker in the full spectrum of fixed income products.

Areas covered by our 425 fixed income sales, trading, research and strategy professionals worldwide include:
- Government Securities
- Mortgage- and Asset-Backed Securities
- Corporate Credit
- Emerging Markets
- Capital Markets
- Structured Notes
- Foreign Exchange
- Strategy & Economics

We are a global leader, offering deep sector expertise and broad advisory and capital markets capabilities to corporate and private equity clients.

Our talented professionals provide a full range of advisory and underwriting services through creative and idea-driven M&A, leveraged finance, equity & equity-linked financing and restructuring & recapitalization solutions. With approximately 700 investment banking professionals we provide global coverage across all products and sectors:

Jefferies Investment Banking Product Coverage:
- Debt Capital Markets
- Equity Capital Markets
- Mergers & Acquisitions
- Private Capital Advisory
- Restructuring & Recapitalization
- Corporate Broking

Jefferies Investment Banking Sector Expertise:
- Consumer & Retail
- Energy
- Financial Institutions
- Financial Sponsors
- Healthcare
- Industrials
- Power and Utilities
- Real Estate, Gaming & Lodging
- Telecoms, Media and Technology

European Regional Coverage:
- UK
- Germany
- France
- Benelux Region
- Italy
- Nordic Region
- Spain (through a partnership with Arcano Group)

Jefferies Equities is focused on providing best-in-class ideas, execution, and service to our clients, with superior sales, trading and research products. With one of the largest, most experienced institutional sales forces, Jefferies has dedicated equity trading desks across the U.S., Europe and Asia. We provide seamless execution and outstanding liquidity with a focus on minimal market impact. We serve a network of more than 2,500 institutional investors around the globe. Our U.S. equity trading business consistently ranks among the Top 10 investment banks in market share and trading quality.

Areas covered by our 800 equity sales, trading and research professionals worldwide include:
- Equity Research
- Cash Equities
- Electronic Trading
- Convertibles
- Equity Derivatives
- Prime Services

Emerton: Activities

Our business is growing fast, such is our Support team. It includes all the mid and back office activities of our business such as Human Resources and Finance.

More specifically, the Human Resources team is responsible for managing the recruitment process for all positions within the company. Most of all, it is in charge of maintaining our Company culture and professional yet friendly work environment.

Emerton promotes a dynamic work environment, takes care of every consultant’s individual career track and strives to ensure a diversity of experiences. Because consulting is demanding, Emerton offers a pleasant office environment and makes every effort to ensure work-life balance.

Our working methods, team work and senior team experience allow young consultants to quickly build a solid track record. The partnerships we develop with our clients enable us to follow-up on our projects and measure their impact.
Emerton will teach working methods and business relationship skills, but also functional skills thanks to the senior team’s premier know-how in corporate finance, marketing, regulations, innovation and organization.

Emerton will also enable consultants to work on new technologies and participate in tomorrow’s markets. Partners have a good command of innovation, tech industry and digital topics and Emerton conducts numerous projects in these areas.
We enable the most entrepreneurial among us to participate in the international development of a world-class, modern and fast growing consulting firm focused on the future.

Each individual’s personal development is very important to Emerton Partners. Each new recruit benefits from a personalized on-boarding program. A mentor is assigned upon arrival. Consultants are in daily contact with the firms’ senior members; skills acquired on the job are complemented by more formal internal trainings.

Ardian: Activities

You will be working with more than 30 professionals who are dedicated to investor relations, ensuring personal needs and requirements are continually met. Among them, regional professionals maintain an ongoing dialogue with investors, while others are fully dedicated to client servicing and continuously strive to provide clients with the most timely, reliable information possible.

The Investor Relations team is also responsible for creating new funds’ marketing materials and answering all investor’s due diligence questions about our funds. In order to do so, the team is positioned at the heart of all different business units within the company.

Through an online reporting platform, Ardian offers investors a secure and comprehensive set of marketing materials, investment results and historic record. Detailed accurate data of investment activity and product lines are published at regular intervals. Today, Ardian is able to provide a tailor-made service to each of its investors.

Through its fundraising and investment successes, Ardian has established a leading Mid Cap position in Europe. With its latest fund of €2.8bn (400 million co-investment) raised in 2013, the team seeks to acquire and develop companies valued between €150M and €1.5bn.

Capitalize on a stringent investment discipline and a unique "sourcing". Established in 1997, the Mid Cap Buyout activity aims to buy and develop leading companies on their markets, often already very internationalized, with potential untapped development. Ardian’s Mid Cap Buyout activity incorporates a disciplined investment approach. Our expertise covers various relevant scenarios, from asset succession, to companies' delisting or large groups' spin-off. Our approach is very selective and we are getting involved early on in the sales process. We are constantly looking for growth sectors and attractive companies and are commited to identifying a value creation strategy prior to making an investment. With a very selective approach and a high level of due diligence, the team focuses on majority transactions while retaining the flexibility to act on attractive minority stake deals with strong governance rights.

Take advantage from international network. With a presence across key markets in continental Europe (France, Germany and Italy), the team’s 29 investment professionals employ both their local expertise and Ardian’s international network to support the growth of portfolio companies.

Supporting transformational strategies. The team focuses on companies with both internal and external growth ambitions and is deeply involved in the implementation of transformational strategies, including buy-and-build and international greenfield expansion.

A long-term investment. As a long-term partner for the companies in which we invest, our Mid Cap team aims to create value for the company, for its employees, for its wider environment and for all shareholders, involving managers and employees at every stage.

Human Resources
The Human Resources team are responsible for managing the recruitment process for all positions within the company including scheduling interviews, ability and psyschometric testing, issuing contracts of employment and conducting pre-employment checks on potential hires.
For existing employee’s they have responsibility for sourcing training courses, and arranging appropriate training and development, managing the annual performance and compensation reviews, plus all elements of reward - managing the employee benefit programmes and ensuring all staff are paid correctly each month.

The administrative and secretarial team provides both clerical and administrative support to all members of the company.
Their role plays a vital part in the administration and smooth-running of the office.
They are often responsible for the co-ordination and implementation of office procedures, travel arrangements, scheduling meetings, diary management, arranging in-house and external events and dealing with telephone and email enquiries.

The Finance team are responsible for the corporate and fund finance and reporting for Ardian.
This team assist in minimising interest rate and currency risks, and monitor bank deposit counterparty risk on an ongoing basis by reviewing the information for all portfolio businesses on an aggregated basis.
This team produce the quarterly investor reports for each Fund/investment and are involved in the annual valuation process.
This team consists of qualified accountants with various levels of experience.

The Ardian Growth team supports small to medium sized businesses with a turnover between €5m and €100m. The team focuses on companies that have the potential for strong, sustained growth in their core markets, are visible domestically and are looking to expand internationally.

Consolidating and driving growth. The team uses its 17 years of experience across 120 companies to provide businesses with the local support they need at key milestones in their development. This can be through facilitating timely acquisitions or by aiding with international expansion.

A locally-based partner. Ardian uses its market expertise and network of contacts to strengthen the human capital of the companies in which it invests. This entrepreneurial spirit, along with the firm’s global presence, helps to give companies greater international exposure.

Broad capital deployment. The team acquires both minor and major stakes in companies, investing between €2m and €10m through capital increases, repurchases, or transmission leveraged buyouts.

As part of this commitment to dynamic and fast-growing sectors, the Ardian Growth Team founded the Digital Entrepreneurs Club, partnering with the French Association for Software Publishers and the Association for Digital Economy.

A high performing business model. The formation of strategic partnerships between investment funds is often required when completing large buyout transactions. Ardian began its co-investment activity in 2005. Since then, the firm has invested in 50 companies, across a wide range of geographic locations and sectors. The Co-Investment team operates on a global scale, which allows them to capitalize on a sustained and high-quality deal flow. The team also operates a selective investment policy and only selects opportunities where a small number of co-investors are involved.

Two distinct strategies. Ardian’s Co-Investment team operates two distinct investment strategies that enable its investors to access a wide range of attractive investment opportunities in markets around the world, with a particular focus on the US and Europe.

- Co-Investments: The first of these strategies involves traditional co-investment activity, where Ardian invests alongside another investment fund without being involved in the governance of the company that general partners wish to syndicate. Typically, the team joins a small group of investors, committing between €20m and €50m to each transaction.

- Active minority investments: In Europe, Ardian participates as a minority investor in large transactions, in which Ardian plays an active role in structuring and then in the governance and development of the company. Ardian can invest in partnership with another private equity fund, but also alongside an entrepreneur, an industrial group or a family. Ardian can mobilize several hundred million euros for this type of transactions.

Since 2005, Ardian has invested in private companies running infrastructure projects, alongside industrial and financial partners, who can contribute their technical expertise or financial resources.

Current yield return and protection against inflation and economic cycles. Infrastructure has a relatively low correlation with other asset classes and offers protection against inflation and economic cyclicality. More importantly, yields are also steady and have good long-term visibility. Ardian invests in the full range of regulated and unregulated core infrastructure assets. These include gas and electricity grids, transport infrastructures such as toll roads, railways, airports and renewable energy assets.

Key partnerships. The Infrastructure team works closely with a network of large industrial, energy, construction and utility companies and infrastructure operators. This network allows the team to access deals on a bilateral basis or through a limited auction, without incurring the time and expense of a formal sale process. The team also has strong working relationships with public service regulators. As a result, the teams are able to understand how the regulator’s evolving strategy might affect the fund’s assets and future investment decisions.

At the heart of the European Infrastructure sector: By taking a long term investment approach, often holding investments for a 10-15 year period, the Infrastructure team can invest up to €400M per transaction, even more with co-investor support. The investments are focused on the European market, diversified between 80% in Brownfield and 20% in Greenfield.

With two generations of funds successfully invested since 2002 and a third closed in 2014, Ardian’s small cap activity has established a leading position across Europe with France, Germany and Italy-based investment professionals. The Expansion team focuses on companies valued at less than €150M.

“Buy-and-build” policy. Ardian’s team has extensive experience in structuring external growth operations, integrating companies and building close relationships with the banks involved in financing. These relationships enable Ardian to assist in the long-term development of small and medium-sized companies.

A grass roots approach. The team focuses on the sectors it knows best, where it can contribute significant added value. Effective governance is key and the team spends a large amount of time working closely with company executives. After an investment has been completed, a 100-day program is launched to review reporting, audit, risk management and communication processes, all geared towards accelerating the company’s growth.

An integrated European team. Ardian’s 18-strong team includes a mix of nationalities working out of offices in Paris, Frankfurt and Milan, with a constant focus on assessing investment opportunities and working closely to monitor the portfolio. The team combines its talents and resources to assist in the development of portfolio companies, especially on external growth and international commercial opportunities.

Ardian entered the private debt market in 2005 with the launch of its first mezzanine fund, and adapted its strategy over time, which has seen it pioneer unitranche lending.

Financing all types of mezzanine transactions. With $4bn managed or advised, the 11-strong team based in Paris and London arranges financings of between €40M and more than €300M under LBO, OBO, management shareholding restructuring, recapitalization or financing build-up.

Solutions tailored to a range of situations. Ardian has developed a full range of innovative transactions:
- Unitranche financing: a combination of senior and subordinated debt in a single instrument with bullet maturity
- Mezzanine financing: loans subordinated to bank debt with equity priority

Focus on unitranche. Ardian is a pioneer of unitranche financing in Europe. This innovative form of financing allows companies to concentrate their investments on external growth. Particularly useful for companies with dynamic growth strategies, this financing is increasingly used by companies and funds.

A key partner. Created in 2005, the Private Debt team has built close relationship with investment funds notably via its team network and through the Fund of Funds activity of the company.

Led from London and New York, Ardian’s global network manages and/or advises $30bn of assets. Seizing the best opportunities, Ardian’s Fund of Funds activity cultivates excellence. In 2013, Ardian deployed more than $3bn in secondary transactions and primary commitments. In April 2014, Ardian has announced the successful fundraising of a $10bn investment platform for its Fund of Funds activity.

The Funds of Funds team at Ardian is a leading international player in the sector which offers its global client base a range of investment options, including:
- Primary Fund of Funds – investments in new funds
- Secondary Fund of Funds – the purchase of direct stakes in mature private equity funds and portfolios of stakes in unlisted companies
- Early Secondary Fund of Funds – the purchase of stakes in immature funds – of which less than 50% are invested

Comprising 50 investment professionals, the Fund of Funds team is spread across our offices and work coordinately from Asia, Europe and North America.

The team is able to access a vast amount of information via a database of 900 funds and 10,000 underlying companies, which provides unparalleled accuracy and expertise within the assets and teams in the private equity sector.

Arma Partners
Investment Banking

We work with a wide range of clients including young, cutting-edge start-ups, established market leaders, Venture Capital and Private Equity houses and large global publicly-listed corporate and government entities. We advise our clients on public and private mergers, acquisitions, divestments and recapitalisations.

Our pan-European team is based in London and our North American team is located in Palo Alto and New York. In addition, we are uniquely positioned to help our clients with complex cross-border deals through our affiliate relationships in İstanbul, Rio de Janeiro, São Paulo, Sydney, Tel Aviv and Tokyo.

Since our inception over ten years ago, we have worked with industry leaders like AOL, Garmin, IBM, Motorola, Sky, Thomson Reuters, Vodafone and Xerox to evaluate strategic M&A opportunities and execute transactions to deliver significant value to shareholders, customers, employees and other stakeholders.
Our ability to provide independent advice, deep understanding of the industries we cover, extensive network and contacts across the ecosystem, flawless deal execution track record and capacity to complement local presence with a global perspective make us an invaluable partner to our clients.We work with a wide range of clients including young, cutting-edge start-ups, established market leaders, Venture Capital and Private Equity houses and large global publicly-listed corporate and government entities. We advise our clients on public and private mergers, acquisitions, divestments and recapitalisations.

Our pan-European team is based in London and our North American team is located in Palo Alto and New York. In addition, we are uniquely positioned to help our clients with complex cross-border deals through our affiliate relationships in İstanbul, Rio de Janeiro, São Paulo, Sydney, Tel Aviv and Tokyo.

Messier Maris & Associés
Investment Banking

Messier Maris & Associés is an investment banking firm providing tailored strategic advisory services in M&A, corporate restructuring, privatizations, and PE transactions.

Located in Paris, New-York and London, Messier Maris & Associés was set up by Jean-Marie Messier and Erik Maris at the end of 2010. Our firm has since expanded and counts five Partners as of today.

Jean-Marie Messier, former CEO of Vivendi Universal and ex-Lazard Frères General Partner, created Messier Partners in 2003.

Erik Maris, the former co-head and General Partner of Lazard Frères joined the team in 2010 to form the newly branded “Messier Maris & Associés”.

François Roussely and Fady Lahame, respectively previously Vice-Chairman Europe and Co-Head of IB France and Belux at Credit Suisse, just joined the firm.

Jean-François Cizain joined in September 2015 as Head of Restructuring and Debt Advisory. He was previously in charge of the restructuring practice and infrastructure finance advisory at Lazard Frères. In September 2013, he founded Special Debt Situations Limited, an advisory boutique focusing on restructuring and capital structure advisory.

A team of c.50 international professionals spread across Paris, New York, and London, Messier Maris & Associés has grown into one of the most dynamic M&A Advisory houses among established investment banks. Driven by an entrepreneurial spirit, its high-caliber team builds on the experience and international relationships of its partners to advise and execute transactions.

In February 2015, Messier Maris & Associés signed a joint-venture agreement with Millstein & Co., a financial advisory firm comprising of c.40 professionals in New York and Washington DC. Founded by Jim Millstein, the former Chief Restructuring Officer at the U.S. Department of the Treasury, Millstein & Co. provides independent advisory to private corporations, institutional investors and governmental clients involved in mergers and acquisitions, restructurings, and other special situations.

Nomura: Activities

Nomura provides investment banking services across Europe, the Middle East and Africa. We have a client-centric model and continue to make significant enhancements to our investment banking platform, global distribution, structuring expertise and product capabilities.

We continue to significantly increase our global footprint where we believe we have a competitive advantage and can best serve our clients, employees and shareholders. By putting our clients at the center of everything we do, we provide high value-added solutions and contribute to economic growth as Asia’s global investment bank.

Our Investment Banking Division provides a variety of advisory and capital-raising solutions to corporations, financial institutions, governments and public-sector organizations around the world. Our global teams act as geographic, product and industry specialists.

Corporate Finance Advisory: Sector and country coverage professionals are critical in identifying and analyzing deal opportunities and managing client relationships. The ideas generated can have a tremendous impact on a sector.

Global Finance and Capital Raising: Global Finance is a combination of product experts, who are focused on providing tailor-made client solutions in debt or equity financing. The group works closely with Corporate Finance, Mergers & Aquisitions and Global Markets to originate structure and execute deals across the globe.

We deliver Asia to our clients – accessing deep pools of liquidity and dynamic growth markets, with cross-border collaborations in M&A, DCM, ECM, and solutions businesses.

Nomura's Global Markets Division handles client transactions for financial institutions, corporates, governments and investment funds around the world. We act as market makers, trading in fixed income and equity securities, including currencies, interest rates and credit in cash, derivatives and structured products. We have taken market-leading positions across the globe by leveraging the strength of our talent, client relationships and technology.

By developing strong relationships with our client base through consistent interaction, independent advice and pre-eminent access to Asia, we have built a powerful global franchise across interest rates, currency and credit products. Our client services cover both high-volume flow products and carefully tailored structured solutions. We have adapted to the changing financial landscape to build a client centric focus differentiated by innovation, electronic and service excellence and market-leading derivatives capabilities.

Our Corporate Infrastructure Division is what underpins the success of the entire organization. It is internationally renowned and structured to deliver a world-class client service. We rely on it to build and support the business, helping us deliver innovative financial solutions that set Nomura apart in the global marketplace.

In our highly competitive and fast-paced industry, strong infrastructure teams are fundamental to our success. Work in these areas (Compliance, Finance, Operations or Technology) with us and you will operate at the forefront of your field, as well as gaining a valuable insight into how Nomura operates on a global scale.

Dan Daviau

Dan Daviau was appointed President and Chief Executive Officer of Canaccord Genuity Group Inc. in October 2015.

Mr. Daviau served as CEO of Canaccord Genuity’s North American Capital Markets business since February, 2015. From 2012 to 2015, he was President of the firm’s US Capital Markets business, where he helped to structure the firm’s investment banking, research, sales and trading operations in the region and improve cross-border capabilities. From 2010 to 2012, Mr. Daviau was Head of Investment Banking for Canaccord Genuity and was actively engaged in improving the firm’s sector diversification capabilities and contributing to its global growth strategy.

Prior to the Canaccord/Genuity merger that was announced in 2010, Mr. Daviau was a Principal and Founder of Genuity Capital Markets, where he held a variety of senior roles since 2005. Prior to 2005, Mr. Daviau was Co-Head of Investment Banking at CIBC World Markets, a firm he joined in 1991. While at CIBC World Markets, Mr. Daviau also served as the Head of the Media and Telecommunications Group since 2000 and Head of the Technology Investment Banking Group in Canada since 1997.

Having started his career as a securities lawyer with Goodman & Co., Mr. Daviau has extensive experience in a broad range of financing transactions and M&A assignments. His equity offering experience includes public and private financings for a number of leading global technology, online gaming, media and telecom companies. In the M&A space, Mr. Daviau has advised in excess of US$50 billion of transactions.

Mr. Daviau is based in Toronto, Canada. He holds an MBA from York University, an LL.B. from Osgoode Hall/York University and a B.A. (Math and Statistics) from the University of Western Ontario.

Canaccord Genuity: Activities

Canaccord Genuity is a global, full-service investment bank focused on growth companies, with operations in 10 countries worldwide and the ability to list companies on 10 stock exchanges.

Canaccord Genuity is the global capital markets division of Canaccord Genuity Group Inc. (CF : TSX | CF. : LSE), offering institutional and corporate clients idea-driven investment banking, research, sales and trading services. We are committed to providing valued services to our clients throughout the entire lifecycle of your business and operating as a gold standard independent investment bank – expansive in resources and reach, but targeted in industry expertise, market focus and individual client attention.

Canaccord Genuity Wealth Management meets investors' individual needs by searching the globe for investment opportunities.

Drawing from our global network we look at both the bigger picture and the finer details. This enables us to deliver long-term investment strategies, as well as informed, near-term solutions that make a difference locally to wealth management clients in Canada, Australia, the UK and Europe.