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