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CHRISTOPHER MASEK AND DETLEF DINSEL: - IK Investment ...

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Gooday and senior portfolio analyst Paula<br />

Savage. “This team bridges <strong>IK</strong>’s front and back<br />

office, controlling the flow of funds, exit and<br />

return proceeds, the administration of any<br />

changes necessary to our management incentive<br />

programmes, and so on,” Yates explains.<br />

A key activity is the collation of PC<br />

management accounts and performance<br />

monitoring. This is done in coordination with<br />

the Strategy, Operations and Business Control<br />

team, to support the investment advisors, the<br />

GP Boards and the investor reporting function.<br />

“These figures are collected, assessed on various<br />

key metrics and c irculated internally with the<br />

Paula Savage and<br />

Andrew Townend<br />

flow of information<br />

controlled and<br />

reconciled through<br />

a ‘traffic light’<br />

system – green,<br />

amber, red. We also<br />

have twice-yearly<br />

fund valuations<br />

independently<br />

verified by our<br />

auditors who visit<br />

all our portfolio<br />

Åsa Uppegård<br />

companies to<br />

consolidate the inputs,” Andrew Townend says.<br />

This periodic reporting is set to increase to<br />

quarterly valuations in 12 months time as <strong>IK</strong><br />

continues to improve the delivery of timely<br />

information to its investors.<br />

<strong>IK</strong> reports to its fund investors in accordance<br />

with European Private Equity & Venture Capital<br />

Association (EVCA) guidelines. These incorporate<br />

the International Private Equity Valuation<br />

(IPEV) guidelines which have been adopted by<br />

all of the major national industry associations.<br />

Jersey – standard private<br />

equity structure<br />

In addition to <strong>IK</strong>’s fund administration unit in<br />

London, the firm has had an integrated office<br />

in Jersey since 1998. Jersey was selected as the<br />

most suitable offshore jurisdiction for fund<br />

“As a pan-regional firm with advisory operations in the UK, Sweden, Germany<br />

and France, <strong>IK</strong> needs a high level of accounting support. We are an audited<br />

group with several group companies within the structure, principally regulated<br />

by the Financial Services Authority in London, and it is essential that we do<br />

everything absolutely correctly.”<br />

James Yates, Partner, <strong>IK</strong><br />

Anna Simon<br />

management due to its established position as<br />

an international finance centre and flourishing<br />

financial services industry.<br />

<strong>IK</strong>’s funds are constituted as English<br />

limited Partnerships which are administered<br />

and managed by their respective General<br />

partners (GP) which are Jersey limited<br />

companies. Each GP enters into an advisory<br />

agreement with <strong>IK</strong> <strong>Investment</strong> Partners<br />

Ltd (<strong>IK</strong> Ltd) in London under which <strong>IK</strong><br />

Ltd provides advisory services in relation<br />

to potential transactions. The <strong>IK</strong> group<br />

companies in Sweden, Germany and France<br />

are all sub-advisers to <strong>IK</strong> <strong>Investment</strong> Partners<br />

Ltd, sourcing potential transactions in their<br />

respective markets.<br />

JERSEY OFFICE. From left: Suzanne Grant, David Anderson and Shaun Johnston<br />

<strong>IK</strong> NEWS 2/11 – 25

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