Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved April 2015 Strictly Confidential Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved An Overview of the Group 1
Feb 16, 2016
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved April 2015 Strictly Confidential
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
An Overview of the Group
1
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
I N D E X Beyond Capital
Management
SECTION 1 OVERVIEW SECTION 2 ASSET MANAGEMENT SECTION 3 INVESTMENT BANKING SECTION 4 REAL ESTATE SECTION 5 CAPITAL ADVISORY SERVICES SECTION 6 AGRIBUSINESS SECTION 7 STRATEGIC PARTNERS SECTION 8 REACH SECTION 9 TEAM
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Beyond Capital
Management
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Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
OVERVIEW
SECTION 1
3
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved 4
• Established in 2003, Knightsbridge Partners is a Merchant Bank, modeled on the “merchant banks” of the 1930s and 40s, with core values and total commitment to clients that rarely exist today. Currently, the firm has offices in London, Buenos Aires, Santiago and Mexico City.
• Prior to forming Knightsbridge, the partners had successful careers in wealth management, investment banking, private equity and real estate where they held senior positions at Goldman Sachs, Deutsche Bank, UBS, Morgan Stanley, JP Morgan, BNP Paribas and Banco de Chile.
• Having worked in New York, London, Madrid, Mexico City, Santiago, Sao Paulo, Johannesburg and Buenos Aires the team shares a diverse investment expertise and network with a focus on Emerging Markets.
• Our competitive advantage rests in the combination of extensive investment experience, access to unique investment opportunities and our vast network of relationships throughout Latin America, the United States, Europe, the Middle East and Asia.
• We take an active, hands-on approach as an Advisor. With our strong financial engineering skills, international affiliations and network, Knightsbridge adds value to clients far beyond the deployment of equity capital.
• Our key areas of expertise are Alternative Investments with a focus in Asset Management, Private Equity, Real Estate & Direct Investments.
A b o u t K n i g h t s b r i d g e
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved 5
Asset Management
Knightsbridge commits people, capital and ideas to help its clients achieve their financial objectives.
Investment Banking Capital Advisory
Services Real Estate Agribusiness
P l a t f o r m a n d S e r v i c e s
We seek to generate consistent investment returns and establish long term relationships with our investors
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
ASSET MANAGEMENT
SECTION 2
6
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A s s e t M a n a g e m e n t
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Manage Volatility Hedge and Trade on the high volatility
generated by uncertainty
Diversify risk Exposure to a broad asset base within the Latin American market
Arbitrage Assets Arbitrage valuations of the big pool of
under-researched assets
Assess Local Policy
Understand sector reactions to economic changes and policy shifts
Knightsbridge partners has recently launched an Argentina Recovery Fund as its first Asset Management product
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
A r g e n t i n a R e c o v e r y F u n d
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■ We seek capital appreciation primarily through the purchase of Argentine equities, bonds and currency securities
■ The fund targets an absolute rate of return of +20% net of fees with moderate to high volatility
■ Opportunistic beta-plus manager alpha
■ Mostly self-generated investment themes with proprietary research and ideas
■ On-going consultation with extensive network of contacts
■ Flexibility across asset classes
■ Nimble trading style in liquid assets combining leverage or cash as the opportunity dictates
Investment Strategy
Portfolio
Equities Fixed Income
Sovereigns: Local, International, GDP-linked
Corporates: Pesos, Dollars, State & Private
companies
Alternative Investments
Foreign Exchange, Futures, Derivatives
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
INVESTMENT BANKING
SECTION 3
9
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
I n v e s t m e n t B a n k i n g
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Our partners have over US$ 4 Billion of direct transactional experience in Investment Banking acquired in International Banks in multiple regions and sectors. We work to provide best-in-class advice and outstanding execution on transactions across products, sectors and geographies in order to help our clients realize their objectives
Knightsbridge offers its clients a full range of Investment Banking services:
ü Mergers and Acquisitions
ü Debt Origination
ü Debt Restructuring
ü Corporate Finance Advisory
ü Valuation
The Investment Banking team main focus in the Energy, Retail and Financial services.
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
I n v e s t m e n t B a n k i n g
Selected Transactions
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Loma Negra
Debt Restructuring
US$ 700M
Pampa Energía
Debt Primary Offering
US$ 178M
Portuguese Construcion
Corporate Finance Advisory
US$ 840M
Ongoing
Debt Restructuring
€ 3billion
Ongoing
Acquisition of Retail Company
US$ 100M
!
Ongoing
Acquisition of Materials Company
US$ 20M
!
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
REAL ESTATE
SECTION 4
12
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
R e a l E s t a t e
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Our Real Estate division is vertically integrated offering the full range of industry services: development, investment, transaction and funds. The Partners’ real estate investment experience has its roots in three generations of investing in this asset class.
Our in-depth local knowledge, formidable execution, access and transparency, radically differentiate Knightsbridge from other firms operating across Latin America.
Our firm has also partnered with top tier groups to co invest in the United States Office & Residential Sector.
We provide services to our clients on:
ü Developments
ü Investments
ü Transactions
ü Asset Management
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
M a r q u e e D e a l s
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Four Seasons Hotel Yoo Nordelta Barrick Building
ü Hospitality
ü Luxury
ü Four Seasons Hotel Buenos Aires
ü Sell Side Mandate
ü Buyer Emirati-based group
ü Transaction Size US$ 64,000,000
ü Year 2011
Transaction, Argentina
ü Residential
ü Luxury
ü Development of 70,000 Sq. meters
ü 330 Condo units
ü Phase 1 completed: Phase 2 under construction
Development, Argentina Acquisition, Chile
ü Office
ü Class A Leed Certified
ü Opportunistic
ü Acquisition Price US$ 19 million
ü 65% LTV at 5%
ü Total leasable area of 5,600 Sq. meters
ü Year 2013
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
F u n d Tr a n s a c t i o n s ( 2 0 1 4 )
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Coliseum Center Town Park Ravine Wildwood Park
ü Three class A office building in one location
ü Acquisition Price: US$ 64m
ü 66.1% LTV at 5%
ü Current occupancy rate: 88%
ü Total leasable area of 504,910 sqft
ü 50 of the tenants are firms with valuations over US$2 Billion
Charlotte, North Carolina
ü Three class A office building in one location
ü Acquisition Price: US$ 57.4m
ü 71.7% LTV at a 4.28%
ü Current occupancy rate: 93%
ü Total leasable area of 367,090 sqft
ü Tenants include Wells Fargo and Sun Trust
Atlanta, Georgia Atlanta, Georgia
ü Class A - iconic building designed by I.M. Pei
ü Acquisition Price: US$ 144,5m
ü 75% LTV at 3,75%
ü Current occupancy rate: 63,4%
ü Total leasable area of 504,910 sqft
ü AAA Tenants include General Electric, Allstate, Infosys & Vonage
Knightsbridge acquired over US$ 250M in Office buildings in the US during 2014 alongside ACP
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
CAPITAL ADVISORY SERVICES
SECTION 5
16
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C a p i t a l A d v i s o r y S e r v i c e s
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Knightsbridge Private Capital Advisory Services business is dedicated to connecting fund managers with high value investment opportunities with our broad client base and relationships; focusing on raising capital for Private Equity, Real Estate, Hedge Funds and Direct Transactions.
We act as an adviser to our clients to develop a complete understanding of their businesses, aspirations and fundraising objectives. We seek to form long-term relationships, supporting them over successive fundraisings. They value our insights and advice in areas of:
ü Strategy
ü Marketing
ü Project Management
We have long established relationships with a global investor base of Institutional Investors and Family Offices. These relationships give us an in-depth insight into their objectives, focus and decision making process; they enable us to design the optimal funding strategy for our clients.
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
P l a c e m e n t a n d a d v i s o r y
Selected Transactions
Agro Terra
Fundraising for agricultural land fund in
Latin America
USD 400M
Four Seasons
Structuring and
Fundraising Luxury Hotel
USD 120M
Americas Cap Partners
Structuring and
Fundraising for US Real Estate Fund
USD 225M
Consultatio
Fundraising for real estate development
USD 100M
!! !
NH-LHI
Selling of 7 hotels’ Portfolio to INVESCO,
Germany
€ 135M
Sabadell
Selling of its Spain’s bank brunches to
MOORPARK
€ 406M
Carlyle Group
Private Placement in selected Latin countries
Ongoing
Blue Water
Placement for European based
Energy fund
US$ 850M
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!
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
AGRIBUSINESS
SECTION 6
19
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
A g r i b u s i n e s s
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Knightsbridge structures and develops investments in the food value chain from origination to processing and commercialization.
We work on the selection of agricultural real estate and management of agricultural assets. We are vertically integrated in every step of the value chain: brokerage, production management, input supply, farm operations, commodity trading.
We focus on business opportunities where there is a distinctive opportunity for land conversion, production optimization, technology implementation or irrigation to generate a production that better fits the market and the financial needs of potential strategic buyers.
The Partners have vast experience across regions in structuring, executing and commercializing over 500.000 acres of agricultural land across three continents.
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved 21
T r a c k R e c o r d
Managed and Structured a USD 120k fund to invest in
agricultural land in Africa ------------------------------------ Land Transformation and
Management ------------------------------------
17 farms and 32,000ha ------------------------------------
South Africa, Zimbawe, Swaziland, Mozambique
Structured a Fund to Invest in agricultural land in
Uruguay ------------------------------------
Management and Investment in Irrigation
------------------------------------ 4,000ha
------------------------------------ Uruguay
Manages a corporate agriculture company to run own
land and third parties’ ------------------------------------
Management
------------------------------------ 3,000ha own; 300,000ha 3rd
------------------------------------ Argentina
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
STRATEGIC PARTNERS
SECTION 7
22
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved 23
• The Carlyle Group is a global alternative asset manager with $203 billion of assets under management across 129 funds and 141 fund of funds vehicles.
• Founded in 1987 in Washington, DC, Carlyle has grown into one of the world’s largest and most successful investment firms, with 1,700 professionals operating in 40 offices in North America, South America, Europe, the Middle East, Africa, Asia and Australia.
• More than 1,700 investors from 78 countries rely on Carlyle to achieve premium returns on their invested capital. Our investors range from public and private pension funds to wealthy individuals and families to sovereign wealth funds, unions and corporations.
• Through an array of products and geographic specific-funds, they work to meet the dynamic needs of the world’s most sophisticated investors.
C a r l y l e ( G l o b a l )
We represent The Carlyle Group in selected countries in Latin America
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved 24
• America's Capital Partners (ACP) was founded in 1998. Within a year of its establishment, the partners completed a record-breaking transaction for 3.2 million square foot in suburban office buildings and development land. This volume made America's Capital Partners the largest owner of office buildings in South Florida during that period.
• Since then, ACP has managed risks and created value in both tumultuous down-turns and vibrant markets alike. Through the years, the company expanded its holdings to over 13,000,000 square feet in major office markets within Pennsylvania, Washington D.C., Virginia, Maryland, North Carolina, Georgia and Florida.
• Today, ACP is uniquely positioned to take advantage of the current market conditions by leveraging its strong relationships with investment partners, lenders, brokers and tenants.
• Their extensive due diligence programs, systems and procedures oriented operating platform is highly scalable and designed to expand with the demands of regional portfolio growth.
A C P ( U S )
We partner with Americas Capital Partners for investments in the Commercial Real Estate sector in the US
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved 25
• Through its affiliates, Avington offers clients traditional merchant banking/ private capital solutions and best-in-class asset management services.
• Avington Financial Limited is headquarted in London and authorized and regulated by the Financial Services Authority UK and it offers clients the full spectrum of strategic and tactical M&A services, fund raising and capital markets advice and execution.
• Avington focuses on select industries and clients where its recognized expertise can meaningfully assist-them in identifying and implementing initiatives. Hospitality is specific focal point of the firm.
• Since inception in 2005, Avington has advised on hospitality transactions in excess of £10 billion.
• Unlike Bulge Bracket investment banks, accounting firms and consultants, Avington has the true specialized experience and expertise to add value in operator selection, contract negotiation and the design and development process.
A v i n g t o n ( E u r o p e )
We partner with Avington in the development of luxury hotels and commercial buildings’ investments in Latin America
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
REACH
SECTION 8
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O u r L o c a t i o n s
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We advise investments in the Americas and Europe through our offices in London, Buenos Aires, Santiago and Mexico City
Buenos Aires
Santiago
Mexico City
London
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I n s t i t u t i o n a l I n v e s t o r s ( 1 / 2 )
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USA
Europe
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
Middle East
Asia
Lat-Am
I n s t i t u t i o n a l I n v e s t o r s ( 2 / 2 )
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Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
F a m i l y O f f i c e I n v e s t o r s
Middle East
Asia
Europe
Latin America
More than US$ 1Bn Less than US$ 1Bn
USA
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70 Families 57 Families
Qatar (8), UAE (19), Saudi Arabia (27) Kuwait (10), Oman (2), Bahrein (4) Qatar (15), UAE (28), Oman (10), Bahrein (4)
59 Families 217 Families Mexico (15), Colombia (6), Venezuela (3), Chile (14), Argentina (9), Brazil (30), Ecuador (2), Peru (6), Uruguay (1)
Mexico (37), Colombia (18), Venezuela (21), Chile (36), Argentina (25), Brazil (50), Ecuador (6), Peru (17), Uruguay (7)
10 Families 7 Families Singapore (3), China (2), Korea (2), Malaysia (1), Japan (2) Singapore (1), Korea (2), Malaysia (1), Japan (3)
23 Families 53 Families Switzerland (13), Germany (3), France (2), Spain (5) Switzerland (27), Germany (7), France (10), Spain (9)
24 Families 85 Families Miami (7), New York (10), Houston (2), Other(5) Miami (40), New York (15), Houston (10), Other(20)
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
TEAM
SECTION 9
31
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
S e n i o r Te a m
Daniel Melhem
Senior Partner
■ Mr. Daniel Melhem is co-founder and Senior Partner of Knightsbridge Partners
■ Since 2003, Mr. Melhem has grown the assets under management to US$1 billion from investors worldwide
■ In 2010, Mr. Melhem co-founded and became President of the Gulf Latin America Leaders Council (GLLC), an organization created to bridge the gap between the GCC and Latin America
■ Prior to this, Mr. Melhem headed Morgan Stanley‘s Private Wealth Management (PWM), Southern Cone team managing over US$400 million of assets. He began his career at Lehman Brothers as a Financial Analyst
■ Mr. Melhem received a BS in Economics and International Business along with the faculty‘s Economics Achievement Award from Babson College (U.S.)
Rodrigo Martin
Managing
Partner Chile
■ Mr. Rodrigo Martin is the Managing Partner of Knightsbridge Partners Chile
■ Before, Mr Martin CEO of Tanner Investments where he lead the restructuring of the firm that lead it to the 6th position local equities trading by volume compared with 24th an year earlier
■ Prior to this, he was Managing Director Capital Markets and Institutional Investors at Banchile, ranked 1st in Chile. He started in Banchile as a Deputy Head Of Sales Equity Desk and was then promoted to Strategist and Head of Research
■ He started his career as Credit Risk Auditor for Banco Río in Buenos Aires, before moving to Santander in Chile where he was Senior Equity Research Analyst
■ Mr Martin has a bachelor in business from UADE in Argentina and a Masters in Financial Management from UAI in Chile
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Santiago Muchinik
Director
■ Mr Santiago Muchinik is Director of Knightsbridge Partners ■ Before, Mr Muchinik was an Associate for Axia Ventures, a
Latin American Venture Capital Fund, where he was in charge of the design and investment analysis of the $ 100M Latin American Fund
■ Prior to this, he was a Senior Analyst for the proprietary trading desk of Banco Columbia in Argentina, where he was responsible for the investment of $50M in fixed income, derivatives and fx. He started his career at Banco Columbia first as an Institutional trader for the money desk and then as an ALM analyst
■ Mr Muchinik holds a MSc Financial Economics from the University of Oxford and a Bsc Economics from the University of Buenos Aires
Fausto Vizoso
Managing
Partner Mexico
§ Mr. Fausto Vizoso became a Partner of Knightsbridge Partners in September 2014. He is based in Mexico City and covers Mexico and the Caribbean.
§ Prior to joining Knightsbridge, Mr. Vizoso was the Director of International Investments of BNP Paribas Real Estate based in Madrid, he was responsible for the cross-border activity in Italy, Spain, Portugal and Latin America. Mr. Vizoso successfully executed numerous real estate transactions in Europe and Latin America, totaling over $2.2 billion dollars.
§ Mr. Vizoso began his career in Marsh McLennan Companies in 2003 as a Financial Risk Advisor. He holds a Bachelor’s in Business Administration & Finance from Universidad Complutense de Madrid (UCM) and a Master’s in Strategic Management from Universidad Francisco de Vitoria (UFV).
Copyright 2015 © Knightsbridge Partners Limited. All Rights Reserved
D i s c l a i m e r
The information contained in the attached presentation is provided for informational and discussion purposes only and may not be relied on in any manner as legal, tax or investment advice or as an offer to sell or a solicitation of an offer to buy an interest in the investment described herein. A private offering of interests in the investment will be made only by definitive offering documents (“Definitive Documents”), which will be furnished to qualified investors on a confidential basis at their request for their consideration in connection with such offering.
The information contained herein will be qualified in its entirety by the information contained in the Definitive Documents, which will contain additional information about the investment objectives, the terms and conditions of any investment, tax information and risk disclosures that are important to any investment decision. Before deciding to invest, prospective investors should read the Definitive Documents and pay particular attention to the risk factors contained in the Definitive Documents.
No person has been authorized to make any statement concerning the investment other than as set forth in the Definitive Documents and any such statements, if made, may not be relied upon. Unless written approval has been provided by Knightsbridge Partners, the information contained herein must be kept strictly confidential and this presentation may not be reproduced or redistributed in any format.
Prospective investors should make their own investigations and evaluations of the information contained herein as well as in the Definitive Documents. Each prospective investor should consult its own attorney, business advisor and tax advisor as to legal, business, tax and related matters concerning the information contained herein and any offering made by the Definitive Documents.
Certain information contained in this presentation constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “project,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance of the investment may differ materially from those reflected or contemplated in such forward-looking statements.
Neither the whole nor any part of the information in this presentation may be disclosed to, or used or relied upon by any other person or used for any other purpose without the prior written consent of Knightsbridge Partners. The material contained herein may include unpublished price sensitive information, the misuse of which may result in criminal and/or civil procedures.
None of the information on which this presentation is based has been independently verified by Knightsbridge Partners or any of their connected persons. Accordingly, Knightsbridge Partners nor any of its connected persons accepts any liability or responsibility for the accuracy or completeness of, nor make any representation or warranty, express or implied, with respect to the information on which this presentation is based or that this information remains unchanged after the issue of this presentation.
This presentation is not intended to provide the basis of any investment decision and should not be considered as a recommendation by Knightsbridge Partners or any of their connected persons to any recipient of the presentation. No person has been authorized to give any information not contained in this presentation. Nothing in this presentation is, or should be relied on as, a promise or representation as to the future.
The marks KNIGHTSBRIDGE PARTNERS -and the stylized logo are all registered trademarks of Knightsbridge Partners.
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