28 Acquisition International - International Fund Awards 2017 Shavit Capital TPT Retirement Solutions Best Late Stage Investment Firm - Israel Best DB Pension Provider 2017 – UK Shavit Capital TPT Retirement Solutions Shavit Capital is an investment firm that specializes in late-stage investments in Israeli companies. Gary Leibler, Founder and Managing Partner, outlines the firm and its investment philosophy. TPT Retirement Solutions is an experienced provider of bundled high quality workplace pensions to more than 2,400 organisations and over 260,000 members with assets under management of around £9bn. The firm is a not-for-profit organisation, so they have no shareholders and are run purely for the benefit of their members. Recently we spoke to TPT Retirement Solutions’ Chief Executive Mike Ramsey about the work of the firm and the clients with whom they work. Company: Shavit Capital Name: Gary Leibler Email:
[email protected] Web: www.shavitcapital.com Address: Jerusalem Technology Park – Malcha Derech Agudat Sport HaPo’el 1, Box 70 Jerusalem, Israel 9695101 Telephone: +972 2 649 0400 Company: TPT Retirement Solutions Name: Billy Wheeler Email:
[email protected] Web: www.tpt.org.uk Address: Verity House, 6 Canal Wharf, Leeds LS11 5BQ Telephone: 0113 394 2686 IF17019 IF17018 Founded in 2008, Shavit Capital has over $200 million under management across four separate private equity funds. These Funds invest in Israeli companies with proven technologies, products, markets and strong management teams. The Funds invest in equity mezzanine or bridge rounds in companies which subsequently expect to raise relatively larger amounts pursuant to an IPO on a major international public exchange or a dual listing of a company that trades on the Tel Aviv Stock Exchange. In addition, the firm also invests in other late-stage opportunities, especially through PIPEs (Private Investments in Public Equities) of Israeli publicly-traded companies. Gary discusses the firm’s funds and how their approach aims to create value for investors. Its investor base includes financial institutions and the chairmen, CEOs and managing partners of investment banks, underwriters, and multi-billion-dollar hedge funds. “Central to our strategy is that we aim to minimize risk and maximize returns by exploiting the opportunities generated by acquiring minority positions in Israeli companies with proven technologies, products, markets and strong management teams. In addition, we place high importance on the way we structure our deals. We maximize returns for TPT Retirement Solutions DB Complete product reduces the amount of time and money a client needs to spend running their defined benefit (DB) legacy pension scheme, whilst maintaining a high level of professional governance under their DB Master Trust arrangement. Mike explains how this solution provides all the services required to run such a scheme successfully. “As DB specialists, we’ve been keeping pensions simple, accessible and easy to understand for over 70 years. Our combined size and strength with more than £9 billion worth of assets enable the schemes within TPT Retirement Solutions to benefit from our economies of scale. Our research indicates that we can typically save at least 30% on the total costs of running a DB scheme, and the size of TPT means that we can provide innovative and cost effective solutions for those who face a challenge with their legacy DB pension arrangements. TPT Retirement Solutions access institutional funds at wholesale prices, with cutting edge investments and strategies.” In more detail, Mike explains the approach he takes to ensure the best possible returns for investors. investors with minimum risk, through strong downside protection terms, emphasis on liquidity, and inclusion of long term warrants in each of our deals.” “Investment discipline is the key to any successful fund. We have clearly-defined investment criteria which we do not compromise on. Since its inception, Shavit Capital has witnessed bull and bear markets, booms and busts. Valuations of companies change dramatically and we have seen different situations in the public markets that either allowed or did not allow companies to execute on their IPO plans, but our investors were at all times protected by our downside protection provisions and able to maximise upside through the exercise warrants that we receive as a part of any of Shavit Capital’s investment.” Looking ahead, the firm’s recently created fourth fund will provide it with many great opportunities to further support investors, as Gary proudly concludes. “Recently we raised our fourth fund and are recognised as the primary address for any late-stage Israeli company that is attempting to raise its last round of finance before an IPO or an exit. This will provide us with many great opportunities for growth going forward.” “We offer two investments options within DB Complete. The first is our Dynamic Portfolio, for those wanting a more sophisticated and diversified investment approach. This portfolio provides access to a wide range of assets, including alternative growth assets, which helps reduce volatility risk. The second, our Simplified Portfolio provides a low cost, mainly passive, index-tracking investment approach. Both options also provide access to LDI solutions, within the matching assets, which control interest and inflation rate risk.” Looking ahead, TPT Retirement Solutions shows no sign of slowing down, instead taking pride in the accomplishments they have made to date and planning for the future in order to continue their success. “We are very confident that there is a significant market amongst legacy DB pension schemes for our DB Complete product; since launch, DB Complete has already secured a scheme with £40m AUM and 400 new members, and TPT is currently in advanced talks with several other schemes.”