Access to Private Equity Market slide image

Access to Private Equity Market

Debt-Like Protections Equity-Like Returns ALARIS REPRESENTS A UNIQUE ASSET CLASS Attractive initial cash yields with participation in growth through an annual adjustment Adjustment tied to top-line growth in the underlying business Exposure to market-leading businesses that are not otherwise accessible to traditional equity investors In the event its investment is repurchased, Alaris is entitled to receive a premium in addition to the return of its original invested capital Common equity returns through dividends and capital appreciation Comprehensive set of rights and remedies Consent rights over material changes in the underlying business of the Partner Companies Non-payment of distributions constitutes an event of default Uncured remedies include the ability to assume a more active role in management, and if necessary, take voting control Ultimately, Alaris can require the repurchase of its investment or engage in a controlled sales process Remedies for uncured defaults include the ability to assume a more active role in management, and if necessary, take voting control 14.8% Alaris Equity Partners - Lifetime IRR (Exited Investments) 3.2% 3.6% 21.6% 16.1% (5.5%) Initial Stated Yield (1) Distribution Growth (2) Redemption Pre- Remediated Premium (3) Remediation IRR Investments (4) Realized Unlevered Return (1) Reflects weighted average initial yield of realized investments (2) Reflects IRR with impact of distribution adjustments and debt contributions (excludes ccComm, Group SM, KMH, Sandbox, SHS and Providence) (3) Reflects incremental IRR achieved from redemption premiums (excludes ccComm, Group SM, KMH, Sandbox, SHS and Providence) (4) Reflects impact on IRR from remediated investments (includes ccComm, Group SM, KMH, Sandbox, SHS and Providence) 10
View entire presentation