0

BESPOKE PRIVATE EQUITY AND REAL ESTATE

INVESTMENT MEETING

Wednesday 5th February

The Four Seasons Park Lane, London

1

Opening Panel

“Seeking higher returns within PE & RE: Where the opportunities lie”

Moderated by Dr David Chambers, Co-Director of the Centre for Endowment AM and University Lecturer in Finance

at Cambridge University

Panellist 1: Cesare Bastianini, Director at CIR S.p.A.

Panellist 2: Edward Collins, CIO at Hanson Family Holdings

Panellist 3: Mark Cunningham, Partner at Holbein Partners

Panellist 4: Simon Foster, CIO at TY Danjuma Page 2

“Financial and social return – too good to be true or simply a holistic investment approach?”

Susanne Bregy, Founder/MD at Rhodanus Capital Ltd Page 3

“Private equity investment in a low interest rate world”

Roy Kuo, Team Head - Alternative Strategies at Church Commissioners Page 3

“Private Equity in Emerging Markets - Opportunities and Challenges”

Rajaa Mekouar, Founding Director at Maera Capital UK and Morocco Page 4

“Investing in Art”

Heather Maizels, Managing Director at Victoria Private Investment Office Page 4

“Targeting the highest returns in the Italian private equity market”

Mittel Management Page 5

“Improving the risk/return profile of healthcare investing”

MVM Life Science Partners LLP Page 6

Akuo Investment Management Page 7

“Residential and commercial property investing opportunities in the Family Office portfolio”

Russell Ereira, Partner at Spring Investment Management

James Burchell, Founder of Phoenix Real Estate Page 8

“The Influence of Outside Money on the London Real Estate Market”

Anis Ashgar, CEO at RDS Capital Page 9

“Real Estate Drivers and Rationalising the Yield Gap”

James Walton, Global Real Estate Sector Specialist at Allenbridge Epic

Grant Ballantine, Senior Advisor at Allenbridge Epic Page 9

“Providing Premium Returns in prime real estate development”

M&A Property Investors Ltd Page 10

HIH Real Estate Page 11

M&P Asset Management Page 12

Prolifico Fund Management Ltd Page 13

Seven Pillars Capital Page 14

2

Edward Collins

CIO at Hanson Family Holdings

After graduating from Durham

University Edward worked as a fund

manager at New Star Asset

Management in London from 2002-

2009. He initially worked on a

special situations fund, which

included investing in Asian equities

and resources. In 2004 the fund

won the won the Lipper Citywire All

Stars Fund Manager of the Year

award for the best performing fund

in the UK All Companies Sector. In

2006 he was appointed lead

manager of a long only growth fund

which invested in mid and large UK

listed companies, he subsequently

also ran a hedge fund. In 2008 after

the departure of the special

situation fund manager Edward was

appointed to run the fund he had

previously worked on leading to a

rapid turnaround in performance.

Since May 2009 Edward has been

the CIO of Hanson Family Holdings

and is primarily responsible for the

family's special situation and

emerging market investing in. In

addition he represents the family's

interests on the boards of several

operating companies around the

world. He is also a Managing

Director of Hanson Asset

Management, the family's vehicle

for advising and co-investing with

other family offices in real estate,

special situations and emerging

markets

Moderated by Dr David Chambers

Co-Director of the Centre for Endowment AM and University Lecturer in Finance at Cambridge University

Dr Chambers co-directs the Centre for Endowment Asset Management (CEAM) and is University Lecturer in Finance, Judge Business

School, Cambridge University. CEAM has its primary focus in developing asset management research relevant to long horizon investors

including endowment and charitable funds, family offices and sovereign wealth funds. CEAM organises the annual Endowment Asset

Management programme to educate practitioners in this area as well as ad hoc seminars and conferences bringing together academics

and practitioners to discuss the latest research developments. Prior to returning to full-time education in 2001, Dr Chambers worked

for 20 years in investment banking at Barings, Hotchkis & Wiley and Merrill Lynch in asset management, mergers and acquisitions and

venture capital in Europe, Japan and the United States.

Opening Panel: “Seeking higher returns within PE & RE: Where the opportunities lie”

Cesare Bastianini

Director at CIR S.p.A.

Cesare Bastianini has been a

Director with Italian publicly listed

and family controlled holding

company CIR since 2005, first in

the Investments division, and then

in the Planning, Control and M&A

division. He previously worked as

Investment Manager within Bank

of America’s direct investments

group, and before that, within

Merrill Lynch’s European

Investment Banking group.

Cesare Bastianini graduated in

Economics from the University of

Turin in 1995 and was awarded an

MSc in Economics by the London

School of Economics in 1997

Mark Cunningham

Partner at Holbein Partners

A corporate financier and

investment advisor with over 20

years’ experience in the finance

industry. Starting his career with

Panmure Gordon in 1987, he

went on to become a Director of

Corporate Finance focusing on

mergers and acquisitions and

corporate restructurings. In 2000

he joined Helix Associates

Limited, a private equity advisory

business, before negotiating its

sale to the US investment bank,

Jefferies, in 2005. He remained a

Managing Director of Jefferies

before leaving to form

Cunningham Loewenstein Asset

Management in 2010. This then

became Holbein Partners in 2013

Simon Foster

CIO at TY Danjuma

Simon Foster joined the TY Danjuma

Family Office as CFO in 2011. Simon

qualified as an accountant with

Ernst & Young and has 19 years of

post- qualification experience in

international investment

environments. He is an experienced

Family Office CFO and has in excess

of 16 years’ experience acting in

Director, Company Secretary and

CFO capacities for diverse

international family offices,

investment vehicles and their

portfolio companies from bases in

the UK and Bermuda.

Simon has twice been the architect

for the initial creation of family

office – private equity structures.

Most recently he acted as interim

Group Finance Director for Technis

International PLC, a quoted

technology and intellectual

property consolidator. He has

extensive corporate finance and

shareholder exit experience

including IPOs, trade sales, mergers

and acquisitions, structured finance

and restructuring programs. Simon

has lead in excess of 35 private

equity transactions. He is also an

individually chartered member of

the Chartered Institute of Securities

and Investment.

3

“Financial and social return – too good to be true or simply a holistic investment approach?”

Financial and social return: how can it work?

Impact first vs finance first

Where to put it into the asset allocation

How important is impact measurement

Susanne Bregy

Founder/MD at Rhodanus Capital Ltd

Rhodanus Capital Limited envisions a world in which investors value and embrace financial as well as social and environmental

returns. This is an attitude that reflects awareness and responsibility, an attitude that reflects a commitment to use capital to create

a world of equality and sustainability.

Having worked for many years for traditional private equity and hedge funds, Susanne Bregy set up Rhodanus Capital to focus on

sustainable and impact investing.

As a communicator, Rhodanus seeks to connect the traditional investment world with impact investments by sharing information

and know-how, exchanging views, and through critical, yet constructive communication.

As a catalyst, Rhodanus supports funds and projects that not only have a defined financial interest, but also social and/or

environmental missions.

Susanne Bregy grew up in Switzerland, studied Philosophy and Business Administration in Munich and currently works and lives in

London.

“Private equity investment in a low interest rate world”

Opportunities created by financial dislocation

Opportunities in emerging markets

Potential second dot.com bubble in the making in technology?

Roy Kuo

Team Head - Alternative Strategies at Church Commissioners

Roy is the Team Head of Alternative Strategies at the Church Commissioners for England, which manages the Church of

England’s endowment. He is responsible for managing and growing the endowment’s allocations in the alternatives

sector. Roy was previously the Head of Research at Dexion Capital, where he was responsible for the firm’s fund of

funds mandates and for establishing investment partnerships with major investment managers in the private equity,

credit, hedge fund, infrastructure and real estate sectors. Prior to this, he was the Alternatives Fund Manager at

boutique fund of funds company Bramdean Asset Management.

4

“Private Equity in Emerging Markets - Opportunities and Challenges”

Why invest in EMs

What is the best route (funds, directs, co-invests) and monitoring process

How to navigate specific risks: governance, liquidity, access to finance

Rajaa Mekouar

Founding Director at Maera Capital UK and Morocco

Rajaa is an entrepreneur dedicated to emerging market advisory and investing with Family Offices and private investors, with

wide-reaching networks across Europe, Africa and the Middle East. She founded Maera Capital in London in 2008, with a focus on

Agriculture/Agribusiness (www.maera-capital.com) and following a career in Private Equity (eg Lazard European Private Equity

Partners). Rajaa is a graduate of HEC and holds an MBA from INSEAD. She is based in London and commutes to Morocco where

she expanded the Maera franchise (www.africasfutureisnow.com). She is also an Advisor at Somerset Capital

(www.som-cap.com).

“Investing in Art”

Is Art an asset class?

What determines value?

How to invest?

What goes wrong?

Art Financing

Heather Maizels

Managing Director at Victoria Private Investment Office

Heather Maizels is Managing Director of Victoria Private Investment Office, which gives advice to families throughout Europe

and worldwide, and manages portfolios. It also acts as investment counsel for families in investment disputes.

Heather has over 20 years of family wealth experience gained during her career with UK and US investment banks, and at Barclays

where she started the private banking business from scratch and developed family philanthropy, and Art as an asset class.

Heather is a barrister, with an MA in law from Girton College, Cambridge University. She is a founder trustee of the Institute for

Philanthropy, former trustee of the Oxford University Law Foundation, and associated with family foundations supporting

women’s issues, education, and the Arts. She is a member of the Professional Advisers to the International Art market.

5

Mittel Management Milan Piazza Diaz, 7 20123 ITALY

Tel: 0039 02 72 14 11

www.mittelmanagement.it

“Targeting the highest returns in the Italian private equity market”

History and evolution of the Italian private equity industry

Exploiting the opportunity of the current market trends

Market driven private equity initiatives

Francesco D’Antonio Managing Director

As Managing Director, Mr D’Antonio manages the company on the basis of its

industrial and financial expertise in the Private Equity industry and on his proven

performance in Restructuring and Turnaround activities.

Main Experience: Intesa San Paolo (Banca Commerciale Italiana), 21 Nextwork (21

Investimenti/Benetton PE), Unipol Merchant, Sviluppo Mediterraneo S.p.A., Aion

Renewables Group, Wings, Kerself Group, Società per l’Imprenditorialità Giovanile

S.p.A.

Expertise: Private Equity, M&A, Venture Capital, Restructuring, Turnaround, IPO

and many other industrial sectors, such as electronics, telecom, construction,

utilities, media, internet, clothing, renewables.

Angelo Facchinetti CEO

As CEO of MMG, Mr. Facchinetti has been and is currently involved in all stages of

the company development and in the Private Equity project of Mittel Group. Mr.

Facchinetti with more than 20 years’ experience in Private Equity and Investment

Banking, manage the company on its own deep operational experience in the field.

Main Experience: Mittel S.p.A., Fashion District Group S.p.A., Everel Group S.p.A.,

Bossini S.p.A., Opera Participations S.C.A., AIFI (Italian Private Equity Association),

CNCC (National Council of Shopping Centers), ICSC (International Council of

Shopping Centers), Hopa S.p.A., Earchimede S.p.A., Alfa Park S.p.A., Markfactor

S.p.A., Fleasing S.p.A., BIOS S.p.A., Draco S.p.A., Montini S.p.A., Axteria Strategy

Consultants S.p.A., Medinvest International S.c.a.r.l., Siderweb S.p.A., Metalleghe

S.p.A., Made in Steel S.r.l., Jakala S.p.A., Itradeplace S.p.A., Instituto Piepoli S.p.A.,

HTN S.p.A.

Expertise: Financial Risk Management, Private Equity, M&A, Venture Capital,

Restructuring, Turnaround, Marketing and other industrial sectors such as steel

industry, fashion and apparel, energy, entertainment.

A Holding of Advisory and Management Companies with synergies and value creating capabilities

Mittel Management, is owned by Mittel S.p.A., one of the most exclusive and historic Italian merchant banks listed on the MTA of the Milan Stock

Exchange. Founded in 1885, since 70s Mittel S.p.A. operates as a financial holding company with high professionalism and relations enhanced by

heritage and history of success in Italian finance. Mittel Management, the advisory company dedicated to private equity investments, provides over

20 years of expertise and presence of the Mittel Group in the private equity industry. Its strategy is related to strong know how of the management

team and a consolidated network of the Mittel Group. Mittel Management’s decision making process is independent and autonomous from the Mittel

Group as well as the investment procedure of the private equity initiatives launched.

Mittel Management’s activity represents a development opportunity relying on high professionalism, expertise, target customer’s needs, brand

awareness and on a consolidated network in Italy’s private equity market. Mittel Management is a holding of management companies with the

following activities and capabilities

▪ Launching new private equity funds according to market trends and investors needs

▪ Determining the investment strategy of the funds, coherent with market situation

▪ Validating business model and identifying the appropriate management team for each new PE initiatives

▪ Defining possible alliances with strategic partners referring to each PE fund

▪ Supporting the fundraising activity for each PE fund

▪ Assisting deal flow origination

▪ Managing and organizing facilities and shared services

Our organizational structure and our business model allow us to run the PE project in a structured and autonomous way, with Mittel Group as main

shareholder of the company. At the same time, our highest priority is the improvement of the assets and know-how of the Mittel Group referring to

PE funds launched during next few years.

Moreover, the company is focused on promoting two private equity funds: Estability, the generalist expansion & development capital fund focused on

excellence in Italian industry and services, and Rexelera the restructuring and turnaround fund focused on restructuring and turnaround activities in

Italian large-caps with real and concrete prospects of revival and growth.

6

MVM Life Science Partners LLP

6 Henrietta Street

London

WC2E 8PU

Tel: +44 (0)20 7557 7500

www.mvm.com

MVM Life Science Partners LLP (MVM), a private equity firm based in London and Boston is focused on Special

Situations in healthcare. MVM defines Special Situations as companies that are mis-priced due to one or more of

three circumstances: 1. limited access to capital, 2. prior disappointment, and 3. operation in an out of favour

sector. After review of the underlying causes of mis-pricing, MVM actively unlocks value by reworking the business

plan, repositioning products and replacing or supplementing management.

“Improving the risk/return profile of healthcare investing”

Exchanging clinical and regulatory risk for risk the GP can mitigate

Capitalizing on the increasingly global healthcare market

Generating value by taking cost out of the healthcare system

Unlocking value from discounted deals in healthcare

Thomas Casdagli

Partner

Thomas has been investing in healthcare at MVM for 11

years. Before joining MVM, he qualified as a chartered

accountant with PwC. Tom has a degree in Molecular and

Cellular Biochemistry from Oxford University.

Thomas is a member of the boards of Alliance Pharma plc

and Patient Connect Service Ltd. Thomas worked on MVM’s

investments in Preglem (Sold to Gideon Richter for CHF

454m) and HBI (Sold to Meda for SEK1.8bn).

Hugo Harrod

Partner

Hugo has been investing in healthcare at MVM for 8 years.

Before joining MVM, he qualified as a chartered

accountant with KPMG. Hugo has a degree in Molecular

and Cellular Biochemistry from Oxford University.

Hugo is a member of the boards of Horizon Discovery Ltd,

Vantia Limited and eZono AG. Hugo worked on the MVM’s

investment in Biovex (Sold to Amgen for $1bn)

7

AIM Luxembourg 51 Av. JF Kennedy

L-1855 Luxembourg

Tel: + 352 202 115 80

www.akuoinvestment.com

AIM is a leading provider of fund management services that offers investors access to diversified portfolios of long-term, project-

financed, renewable energy infrastructure assets with well-defined cash flows. Our combination of entrepreneurial, industry,

and regional expertise allows us to deliver strong returns to our investors while at the same investing in assets that promote a

more sustainable environment.

In addition to fund management services, we offer specialized investment advisory services and the structuring of investments

backed by cash flows from renewable energy projects. Capitalizing on our relationships with Akuo Energy and other prime

developers, financial institutions, and governments, we offer our investors unique insight and opportunities in the renewable

energy sector.

Stéphane Boudon CEO of Akuo Investment Management

AIM Luxembourg

Stéphane has extensive international experience in private

equity, both entrepreneurially and from the fund manager’s

perspective.

Born in France, Stéphane also spent part of his youth in

Germany and the United States. He served as the CEO of

technology companies before entering the investment world.

Prior to creating Akuo Investment Management, Stéphane

was the President of CDC Innovation at France’s largest

financial institution, Caisse des Dépôts et Consignations,

where he played a major role in creating several independent

Private Equity funds, holding initially a portfolio of equity

stakes in over 80 companies. He has realized numerous deals

in France, Germany and Switzerland, several of which went

public.

Stéphane, holds a Ph.D. in Computational and Physical

Sciences from the University of Strasbourg, went to the Ecole

Normale Supérieure in Paris and is Agrégé de Sciences

Physiques. Stéphane is fluent in French, English, German, and

Portuguese.

Nadia Popova Investment Director

Director of AIM Luxembourg

Nadia began her career in Paris with Absolute Return

Investment Services as a Middle Office Manager, and has

extensive experience with financial analysis and modeling.

In 2004, she became an Analyst and later Asset Manager for

the firm’s managed accounts, where she co-managed an

International Equity Fund.

A CFA charterholder, Nadia is also an active member of the

SFAF (Société Française des Analystes Financiers).

Nadia holds a B.S. in International Economics from the

American University of Paris. Nadia speaks fluent French,

English and Bulgarian, and has a working knowledge of

Russian and German.

8

“Residential and commercial property investing opportunities in the Family Office portfolio”

Are the current high end property market yields sustainable?

How to source and execute a successful co-investment

Emerging versus high end property markets

Russell Ereira

Partner at Spring Investment Management

Russell is Principal at Spring Investment Management Ltd where he oversees both residential and commercial Market

Real Estate projects, Finance and Private Equity. He is also involved in helping families transition wealth from one

generation to the next, in Human capital and in family structuring

James Burchell

Founder of Phoenix Real Estate

James Burchell as the Founder of Phoenix Real Estate has a 20 year+ track record of investing with Ultra High Net Worth

Families in UK commercial real estate. This includes creating segregated and segmented accounts either on or offshore

where families have the appetite to invest but lack the expertise and do not have the management in place.

James is former CEO of Arrowcroft Capital Family Office where he worked on numerous transactions and investments

into Commercial Property in the United Kingdom.

Phoenix Real Estate concentrates on offering investors the opportunity to purchase income generative property both

in London and across the UK. We have the insight to identify those assets which are undervalued or would benefit from

repositioning; as such, we generate above market average returns with the benefit of direct real estate exposure.

9

Anis Ashgar

CEO at RDS Capital

Anis is the co-founder of RDS Capital, and of the RDS Milken Institute Family Office Council and Family Office Network and has led the initiatives for numerous joint ventures for RDS. Anis also provides advisory services to the Family Office Market. RDS is actively investing in Real Estate Growth companies and operational businesses, as a result Anis leads the investment committee and serves as the companies CIO. Anis has many years of experience in M&A and has completed a number of cross border complex transactions, buy and build strategies and has advised on structuring investments internationally.

Prior to RDS Anis founded a Telecommunications business and has invested in Venture Capital, Real Estate, Business Turnaround, Shipping and Hospitality. His Family Foundation has built Schools, Medical and Religious Centres in rural areas of Bangladesh. Anis holds Directorships for a number of companies and regularly speaks on Venture Capital, Real Estate and Direct Investment. Anis holds a degree from Surrey University and an MBA. Anis has two daughters and has a keen interest in Sport.

“The Influence of Outside Money on the London Real Estate Market”

Has the London residential bubble reached its peak?

What percentage of the market is addresses by private equity?

Had the city lost its financial muscle, what are the implications to the London commercial real estate market

Anis Asghar

CEO at RDS Capital

Anis is the co-founder of RDS Capital, and of the RDS Milken Institute Family Office Council and Family Office Network and has led the initiatives for numerous joint ventures for RDS. Anis also provides advisory services to the Family Office Market. RDS is actively investing in Real Estate Growth companies and operational businesses, as a result Anis leads the investment committee and serves as the companies CIO. Anis has many years of experience in M&A and has completed a number of cross border complex transactions, buy and build strategies and has advised on structuring investments internationally.

Prior to RDS Anis founded a Telecommunications business and has invested in Venture Capital, Real Estate, Business Turnaround, Shipping and Hospitality. His Family Foundation has built Schools, Medical and Religious Centres in rural areas of Bangladesh. Anis holds Directorships for a number of companies and regularly speaks on Venture Capital, Real Estate and Direct Investment. Anis holds a degree from Surrey University and an MBA. Anis has two daughters and has a keen interest in Sport.

James Walton

Global Real Estate Sector Specialist at Allenbridge Epic

James is a real estate Sector Specialist and the founder of South 40 Group, a real estate fund advisory and private placement

company.

He currently advises four real estate Fund of Funds with both global and country specific mandates, he is the Head of Real Estate

at Cannaccord Genuity Wealth Management, has extensive experience of fund due diligence and has delivered results to some

of the most trusted and best performing companies in real estate fund management. In particular, he has over 15 years of

experience in real estate private equity and research having worked for Jones Lang LaSalle, Fidelity Investments, Healey & Baker

Investment Managers, Patron Capital Partners and Dawnay Day.

James is a graduate of the University of Massachusetts, Amherst and The London School of Economics (LSE). He is also a member

of the Investment Property Forum (IPF), the Society of Property Researchers (SPR), Urban Land Institute (ULI) and a founder and

past President of the LSE’s Global Real Estate Group.

“Real Estate Drivers and Rationalising the Yield Gap”

Why are property forecasts rising in an expected higher interest rate environment?

Is investment in good grade B property really riskier than prime?

Why is low leverage preferred in a low interest rate environment?

Signals and risk metrics to watch out for in real estate

10

M&A Property Investors Ltd

324 Regent Street Suite 404 London

W1B 3HH

Tel: 0041 20 80 99 26 14

www.mapropertyinvestors.com

M&A Property Investors Ltd is a UK investment boutique headquartered in London with affiliated offices in Zurich, Luxembourg and Prague, focused on providing fresh capital as equity and debt loans to “AAA“ real-estate projects located in Switzerland and Northern Europe.

“Providing Premium Returns in prime real estate development”

The Swiss luxury residential real estate market

Generating Capital Gain via direct and co-investments

Generating yield via alternative financing

Thomas Azavedo Business Developer CEE

Thomas has more than 20 years of experience in the financial field having started working with Deloitte & Touche first in London and then in Prague. Following that, he continued in the financial sphere for the US cosmetics firm COTY/Lancaster International responsible for Eastern Europe, Central Asia and then Middle East. In 1999 he started as a Real Estate developer in the Czech Republic, acquiring various land plots focusing on Residential Developments. In the past 12 years, he has sourced, managed and developed 8 projects in Prague area in excess of Eur 40 Million and continues residential developments under the brand Doma je Doma (www.doma-je-doma.cz). In 2011, M&A Property Investors entered into a JV with Doma je Doma to develop one of their prestigious projects Lidicka Alej in Lidice, on the border of Prague. Thomas is a Chartered Accountant (ACA) from England & Wales , he is a Czech citizen (originally Indian citizen), married, speaking English and Czech.

Lorenzo Pagano

CFO

Prior to joining M&A Property Investors, Lorenzo worked in

2007 with G&E Real Estate in Milan as analyst of the business

development team appraising numerous portfolios of

commercial properties for the Italian market. He reviewed,

underwrote and closed the acquisition of the Redwood Fund,

finalized in a JV with Lehman Brothers.

From 2009 to 2011 he held the role of analyst for DDM in Zug,

the leader investor in distressed debt portfolios in Eastern

Europe. In this role he actively managed distressed accounts

with a gross value of nearly € 700 Mil distributed across Russia,

Romania and Czech Republic.

Lorenzo joined M&A‘s Team in August 2011 to take over the

financial analysis of the new projects, to optimize company’s

cost of capital and to execute the strategy for the international

expansion.

Lorenzo has Italian citizenship and is a Swiss resident. He is

fluent in English, Italian and Spanish with good knowledge of

French.

11

HIH Hamburgische Immobilien Handlung

Kehrwieder 8

D-20457 Hamburg

Germany

Tel: 0049 40 3282 30

http://www.hih.de

HIH operates as the commercial real estate investment and management company within the network of M.M. Warburg & CO private bank, established in 1798, and its group of companies. With currently around EUR 4 billion of assets under management, the firm is one of the largest non-captive commercial real estate managers in Germany with offices in Hamburg, Frankfurt, Berlin, Munich, Duesseldorf and Cologne. The firm employs around 210 specialists in deal origination/structuring, transactions, asset management, commercial and technical property management, development and back office operations such as finance, tax and legal services. HIH`s property management division (HIH Property Management) has been voted best German property manager for four years in a row (2010-13) in an independent institutional study. HIH manages commercial real estate for a wide range of national and international institutional and private clients

along all risk-return strategies and across legislations in third party mandates and through its real estate funds

and private placements or club deals. Since 2006, HIH was responsible for a commercial real estate transaction

volume of more than EUR 5 billion and a total leasing volume of around 675.000sqm.

Daniel Werth

Director

Daniel Werth is a Director and is based in Hamburg. He

has been with HIH since 2005 and is responsible for

strategy development and also all asset management

activities on behalf of international clients. He is a

business graduate from the University of Applied

Sciences Hamburg and also received an MSc in Real

Estate Investment and Finance with Distinction from

Henley Business School at the University of Reading. He

also completed an Executive Finance Programme in

Private Equity at London Business School. HIH operates

as the real estate investment and management

company within the network of 1798 established M.M.

Warburg & CO bank and its group of companies.

Torsten Doyen

Managing Director

Torsten Doyen, Managing Director at HIH

Vertriebs GmbH, has been with HIH since 2009. He

is responsible for the firm`s overall capital raising

activities. The range of products varies from

private placements especially for institutional

investors to alternative investment funds for

wealthy private clients. To enhance his banker

background, Torsten completed an extra-

occupational education as business economist

with a focus on the bank sector in 1997. Further

he graduated in real estate management studies

in 2010. HIH operates as the real estate

investment and management company within the

network of 1798 established M.M. Warburg & CO

bank and its group of companies.

12

M&P Asset Management (“M&P”) offers asset management and investment management services related to

real estate and is own by its partners who successfully have worked with international investors such as

Doughty Hanson, Merrill Lynch, Morgan Stanley and GE Capital. M&P has been awarded the 'Best Property

Manager in Sweden' Euromoney Magazine. The business concept is to act as a representative for the investor,

generating a high risk-adjusted return through pro-active management. The client base has through the years

included real estate companies, investment banks, funds, family offices as well as high net worth individuals.

Since the foundation of the company, M&P has managed properties for a total value exceeding € 1.7bn. Assets

under management are currently about € 550m in value. Transactions worth approximately € 200m were

made in 2012. M&P launched a real estate opportunity Fund in 2013. The Fund will primarily target on

developments projects in Sweden.

M&P Asset Management AB

Drottninggatan 94

Box 3478

10369 STOCKHOLM

Tel: +46 8 441 87 60 info@mpam.se www.mpam.se

Henrik Jussi-Pekka

CEO

Henrik has 18 years of real estate experience and is founding partner of M&P Asset Management (M&P), which offers asset management and investment management services related to real estate. The business concept is to act as a representative for the investor, generating a high risk-adjusted return through pro-active management. The company currently has € 550 m of assets under management. Prior to founding M&P, he was a director at Niam in Stockholm, responsible for business development and real estate investments. Niam is a real estate private equity firm in Northern Europe. Prior to that, Mr. Jussi-Pekka was head of transactions for Uppsalahem, a large regional residential company. He has a realised transaction track record of circa € 2.5 billion. Henrik has a M.Sc. in Civil Engineering with specialisation in Real Estate Economics from the Royal Institute of Technology, Stockholm.

Christian Ekberg

Investment Manager

Christian has 8 years of real estate experience and is a

partner of M&P Asset Management (M&P), which offers

asset management and investment management services

related to real estate. At M&P Christian is responsible for

acquisitions and divestments on behalf of clients. Before

joining M&P in 2005 Christian worked at Svenska

Bostadsfonden (the Swedish Residential Fund) where he

was part of the transaction team. Christian has a M.Sc.

with a Major in the built environment specialised in Real

Estate Management from the Royal Institute of

Technology and a M.Sc. in Business Administration with a

Major in Finance from Stockholm University.

13

Prolifico Group Ltd

Alameda Jaú, 1177 - 9th floor Jardins - São Paulo 01420-001 Tel: +55 11 3522 6101 www.prolifico.com.br

Overview:

Prolifico is a real estate and private equity investment management firm, focusing on special opportunities in Brazil.

Founded in 2009 and managed by a multi-national team with over 75 years of combined experience in Real Estate, Investment Management, Law, Finance and Capital Markets, and over 40 years working in Brazil.

Current Performance:

Current Fund total asset appreciation +180% in under 3 years with zero leverage.

Sector Focus: Self Storage, Student Housing, Senior Living and Data Centres

Globally proven business models yet early stage in Brazil

Clearly identified supply / demand imbalances

High margins / High Yield (low volatility)

Low exposure to macro cycles (defensive assets)

Real Estate Focus:

Up and coming areas benefiting from multiple growth drivers

Early mover advantage ensures high barriers to entry for future competitors

Low debt ratios reduce risk

Prolifico Value Add:

Experienced real estate investors with strong track record in niche assets

Applying world class operating expertise to simple, proven business models

Long-term investor relationships locally and internationally

Working in Brazil on behalf of investors with transparency and integrity

Peer Buergin

CFO/COO

Peer co-founded Prolifico and is the main contact for the

group’s capital market and financial matters. Prior to

founding Prolifico, he was a senior member of UBS

Pactual’s Special Situations team in São Paulo, where he

sourced and executed turnaround and real estate

opportunities. Preceding his move to Brazil, Peer was an

Executive Director in Structured Finance at UBS

Investment Bank, New York. He began his career as a

corporate finance analyst at Warburg Dillon Read in

Zurich. Peer is fluent in 5 languages and holds a B.A. in

Mechanical Engineering, and a M.Sc. in Industrial

Engineering from the Swiss Federal Institute of Technology

(ETH Zurich).

Patrick Dumas

Head of Investor Relations

Since joining Prolifico in early 2010, Patrick has been

building up the firm’s network of investors around the

globe. Prolifico now has a strong and ever growing platform

of interested investors to approach with every new deal or

fund. Prior to joining Prolifico, Patrick spent five years

working in Singapore for PVM, the world's largest OTC oil

broker. He was broking derivatives and involved in the

management and growth of the business. The business was

underperforming and he helped to take it to number one in

the market. Before Singapore, Patrick worked for a real

estate agency in London and has been investing in property

globally (including Brazil) for the past few years. Patrick

holds a Masters in Business Studies from Edinburgh

University.

Photograph to

be sent

separate in JPEG

format

14

Seven Pillars Capital Management

1 Knightsbridge Green London SW1X 7QA United Kingdom

Tel: +44 (0) 20 78589990

www.sevenpillarscapital.com

Seven Pillars was founded in 2008 on the principle of providing conservative yet unconventional stewardship of our investors’ capital.

We offer an actively managed, total return multi‐asset vehicle that invests across global markets. Our investment process combines

asset allocation, bottom‐up security selection and comprehensive risk management.

Our investment team is comprised of individuals with extensive experience across equities, credit, commodities and global macro.

The Fund aims to deliver consistent absolute returns regardless of market conditions by implementing a sound, diversified investment

strategy. We seek to provide our investors with a low-risk component that serves as a core pillar of their investment portfolio. Our

Fund investment objectives are to:

Offer a long-term focused investment portfolio that spans multiple asset classes in a single vehicle

Deliver high-quality, long-term capital growth across market cycles – target LIBOR plus 500bps, with low volatility and no

leverage

Preserve purchasing power and capital by actively employing portfolio hedging strategies to protect against downside risks

Asset Allocation Our asset allocation approach is a disciplined, research-intensive process involving forward looking assumptions on asset class returns. Our asset class universe includes cash, public and private equities, fixed income, real estate, commodities and absolute return. Our mandate embeds the flexibility of reflecting our broader thematic views. Security Selection Within each asset class, mindful of our broader thematic views, we take an active approach to security selection. Our security selection is guided by a value-based philosophy and involves in-depth fundamental research. Risk Management Underlying our investment expertise are strict risk management and meticulous due diligence procedures that encompass investment strategy, portfolio parameters, monitoring and operational controls.

Silvano Di Stefano Portfolio Manager

Mr. Di Stefano spent three years at the Duet Group as its chief investment officer from July 2007, and before that was co-portfolio manager of the Cheyne Global Opportunities Fund. From July 2001 to September 2004 he was Head of Credit Derivatives and Corporate Bonds at Monte Dei Paschi di Siena, where he ran profitable trading books in Fixed Income, Credit Derivatives and Corporate Bonds. Prior to that Mr. Di Stefano held senior proprietary trading roles at Banca Intesa (1997-1998) and then at Banco Nazionale dell'Agricoltura (1998-2000). From 1995-1997 Mr. Di Stefano worked as a repo trader and government bond trader at Banco De Sardegna. Mr. Di Stefano holds a degree in Business Administration from Universita Commerciale Luigi Bocconi.

Vincenzo Galli-Zugaro

Co-Founder, Managing Partner

Prior to founding Seven Pillars in 2008, Mr. Galli-Zugaro spent 14

years on Wall Street and the City of London at Morgan Stanley

and Merrill Lynch. At Merrill Lynch in London he was Managing

Director in the global currencies group responsible for European

institutional sales. He previously worked for them as a trader in

emerging market currencies and interest rate products. While at

Morgan Stanley as an executive director he spent several years

in an advisory/sales role covering some of the world’s largest

institutional investors and hedge funds. Prior to working in the

financial industry, he worked for a private US policy think tank

in Washington DC, and served in the US Navy. He holds a BA in

History (magna cum laude) from Columbia University in New

York and also holds a Master’s degree in International Banking

and Finance from Columbia.