Investment Criteria
Due Diligence Process
- The investment process will be managed by an Investment Committee chaired by Mr. Norris.
- As Chief Operating Officer, Stewart Paperin, Senior Advisor to Soros Fund Management, who will after the First Closing work substantially full-time for the Partnership, will have personal responsibility for managing the due diligence process and the financial analysis of investments performed by the Partnership's senior analysts.
- In addition to Mr. Paperin, the Partnership will employ two full-time seasoned Senior Analysts who will report to Mr. Paperin and have at least 20 years of combined experience. One of the Senior Analysts will be a CPA with strategic planning experience and the other will have an advanced business degree and substantial senior-level private equity fund experience which will include analyzing, structuring and negotiating deals that will be well known to Mr. Paperin or Mr. Norris.
- The due diligence reviews themselves will be "out-sourced" to veteran industry experts known to and selected by Mr. Norris, Mr. Paperin and the other members of the Investment Committee, who will build their independent analysis on the substantial due diligence efforts of the deal sponsors and their advisors. This analysis will be overseen and reviewed by Mr. Paperin.
- The process will allow the Partnership to efficiently "cherry-pick" the best deals available from premier equity and buyout funds, reducing risk and greatly enhancing the likelihood of substantial returns to the Partnership.
- The Investment Committee's review will focus on:
- Competitors and barriers to entry and assessment of industry.
- Business strategy: product development, marketing, sales and distribution, intellectual property, etc.
- Managements' background and experience within their industry sector, ability to attract and retain top talent, ability to manage growth and execute to plan including an assessment of the opinions of customers and suppliers regarding the business.
- Financial history and scrutiny of Sponsor's projections of revenues, margins, cash flow, etc.
- Review and confirm the reasonableness of Sponsor's exit strategies.
- Evaluating and comparing each co-investment opportunity to achieve the maximum value for the Partnership.
Due Diligence Process
