september 2000 september 2000 quartalsbericht quarterly report

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S E P T E M B E R
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Q U A R TA L S B E R I C H T
Q U A R T E R LY R E P O R T
Die AIG Private Equity AG («die Gesellschaft») ist eine schweizerische Beteiligungsgesellschaft mit Sitz in Zug. Die
Gesellschaft ist an der SWX Schweizer Börse kotiert und verfügt über eine Marktkapitalisierung von
rund 520 Millionen Schweizer Franken. Anlageziel des Unternehmens ist der langfristige Kapitalzuwachs für
die Aktionäre durch Investitionen in Private Equity-Funds, die durch die AIG selbst oder durch andere führende
und unabhängige Manager verwaltet werden. Daneben werden Direktanlagen in operativ tätige Unternehmen
vorgenommen. Diese Kombination von Funds und Direktanlagen ermöglicht eine breite Diversifikation und besser
vorhersehbare Mittelflüsse. Gleichzeitig verfügt das Unternehmen damit über die notwendige Flexibilität, um von
sich bietenden Investitionsgelegenheiten profitieren zu können, indem selektiv Direktanlagen in Unternehmen mit
ausserordentlich grossem Wachstumspotential vorgenommen werden. Das Portfolio wurde im Laufe von mehr
als 13 Jahren aufgebaut. Bei jeder Position des Portfolios handelt es sich um ein Co-Investment mit AIG, einem
etablierten, erfolgreichen und weltweit tätigen Private Equity-Investor.
C O M PA N Y P R O F I L E
AIG Private Equity Ltd. (“the Company”) is a Swiss investment company domiciled in Zug. The Company is listed
on the SWX Swiss Exchange and has a market capitalization of approximately 520 million Swiss francs. The
Company’s investment objective is to achieve long-term capital growth for shareholders by investing in private
equity funds sponsored by companies of American International Group, Inc. as well as partnerships managed by
other leading private equity managers. The Company may also make direct investments in operating companies.
This combination of funds and direct investments provides broad diversification and more predictable cash flows
while allowing the Company the flexibility to take advantage of opportunities to make selective direct investments
in operating companies with outstanding growth potential. The portfolio has taken more than 13 years to assemble and each position is a co-investment with AIG, an established and successful global private equity investor.
ÜBERBLICK WERTENTWICKLUNG
Kursinformationen per 30. September 2000
CHF Schlusskurs CHF
164.00
Innerer Wert
CHF
136.90
Wechselkurs
CHF/USD 1.7375
Wechselkurs
CHF/EURO 1.5250
PERFORMANCE SUMMARY
Price Quotation
CHF Closing Price
Net Asset Value
Exchange Rate
Exchange Rate
as of September 30, 2000
CHF
164.00
CHF
136.90
CHF/USD 1.7375
CHF/EURO 1.5250
S E P T E M B E R
FIRMENPROFIL
Q U A R T A L S B E R I C H T P E R 30 . S E P T E M B E R 2 0 0 0
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SCHWERPUNKTE
HIGHLIGHTS
Im Anschluss an die Kapitalerhöhung konzentrierte sich
die Gesellschaft auf die Integration zuvor ermittelter Investitionsmöglichkeiten ins Portfolio. Im Verlauf des dritten
Quartals tätigte die Gesellschaft zudem zwei neue Direktbeteiligungen. Infolgedessen ist der Investitionsgrad um 26
Prozentpunkte auf 76% gestiegen.
Die Ausschüttungen und Kapitalgewinne aus
dem etablierten Private Equity-Portfolio überstiegen die
Erwartungen. Den wichtigsten Beitrag zu dieser positiven
Entwicklung leisteten der AIG Asian Opportunity Fund
(«AOF»), die Schroder Funds sowie der Cinven Fund II. Der
AOF veräusserte die Beteiligung an Hansol an Korea Telecom. Der Cinven Fund II veräusserte die Beteiligung an
General Healthcare, welche 42 private Akut-Pflege Spitäler
und 11 psychiatrische Kliniken unterhält. Die Schroder
Funds verkauften unter anderem die letzte Tranche an
Charles Vögele, einem führenden Textildetailhändler der
Schweiz und Ririlux SA, ein in der Schweiz ansässiger Hersteller qualitativ hochwertiger Reissverschlüsse. In einem
der grösseren Fund-Commitments hatte ein Unternehmen
Schwierigkeiten, das zur Fortsetzung seiner rasanten
Wachstumsstrategie erforderliche Kapital zu beschaffen.
Aus Sicht des Managements hat sich die Liquiditätskrise
nachhaltig negativ auf das Unternehmen ausgewirkt. Daher
wurde die Position vollständig abgeschrieben.
Im dritten Quartal tätigte die Gesellschaft zwei Direktinvestitionen: Universal Pictures Escape («UPE»)
und Advanced Medicine («AMI»). Zu UPE gehören zwei
grössere Themenparks, die Universal Studios Florida und
Islands of Adventure sowie ein Nightlife- und Restaurantkomplex. AMI ist ein gegenwärtig ausschliesslich in der Forschung tätiges biopharmazeutisches Unternehmen. AMI
konzentriert sich auf die Veränderung bekannter Substanzen in den folgenden Nischenbereichen: postoperative
Schmerzen, neuropathische Schmerzen, Asthma, bakterielle Infektionen und Inkontinenz.
Die Gesellschaft hat zudem Zahlungsverpflichtungen
über 80 Millionen US-Dollar in 25 US- und westeuropäische Leverage Buyout- und Risikokapitalfonds abgegeben, welche bisher durch die AIG gehalten wurden.
Rund ein Drittel dieses Betrages wurde bisher investiert.
Zudem tätigte die Gesellschaft eine Zahlungsverpflichtung
von 35 Mio. EUR in CapVest Equity Partners. Dieser
Fonds stellt europäischen Firmen mit einem Unternehmenswert von Euro 50-500 Millionen Wachstumskapital zur
Verfügung. Der Branchenfokus liegt bei Telekommunikation, Dienstleistungen und Freizeit. APEN übernahm des
Weiteren eine Gründungsbeteiligung an einer Schweizer
Beteiligungsgesellschaft, der A & A Venture. Deren Portfoliogesellschaften sind typischerweise Early-stage Unternehmen mit Fokus auf Europa und die folgenden Branchen:
Kommunikation, Technologie und Life Sciences.
Der Innere Wert der Gesellschaft (unter Anwendung von Fair Values) stieg im dritten Quartal um 4.8% auf
136.90 CHF pro Aktie. Die Hauptgründe hierfür waren die
gute Performance des etablierten Privat Equity Fund-Portfolios sowie der starke US-Dollar. Der Aktienkurs von 164.00
CHF lag um 8.6% über dem Kurs zur Jahresmitte und um
31.2% über dem Ausgabekurs im Oktober 1999. Die Prämie
betrug zum Quartalsende 19.8% (unter Anwendung von Fair
Values).
1
Diversifikation nach Investitions-Fokus per 30. September 2000
Diversification by Investment Focus as of September 30, 2000
Expressed as % of Invested Assets applying Fair Values
Following the capital increase the Company focused its
activities on realising previously identified investment
opportunities. In the course of the third quarter two new
direct deals and numerous commitments to third party private equity funds were completed. As a result, the investment grade increased by 26 percentage points to 76%.
The returns of the seasoned portfolio of private
equity have exceeded expectations. The AIG Asian Opportunity Fund (“AOF”), the Schroder Funds as well as The Cinven Fund II were the main contributors. AOF sold its stake
in Hansol to Korea Telecom. The Cinven Fund II sold its
stake in General Healthcare. General Healthcare operates
42 private acute care hospitals and 11 psychiatric clinics.
Among the positions Schroder sold was its last tranche of
Charles Vögele Holding, a leading Swiss clothing retailer.
Ririlux SA, a Swiss based manufacturer of high-end zippers. A portfolio company in one of the larger funds was
experiencing difficulties in securing the additional capital
required to continue its rapid growth pace and management believes the liquidity crisis has permanently impaired
the portfolio company. The position has therefore been written down entirely.
The Company concluded two direct investments in
the third quarter: Universal Pictures Escape (“UPE”)
and Advanced Medicine (“AMI”). Located in Orlando,
Florida, UPE is comprised of two major theme parks – Universal Studios Florida and Islands of Adventure as well as
an associated nightlife and restaurant complex, City Walk.
AMI is a leading pre-revenue bio-pharmaceutical company
that has developed an innovative and cost-efficient
approach to drug discovery. AMI focuses on altering known
compounds in the following niches: post-operative pain,
neuropathic pain, asthma, bacterial infection and urinary
incontinence.
The Company has committed funds to 25 US and
Western European leveraged buyout and venture
capital funds which were warehoused by AIG for up to
2 years. The total commitments for these funds amount to
80 million US dollars. Approximately a third of the commitments have been drawn down. The Company additionally
committed 35 million Euro to CapVest Equity Partners,
a fund that seeks to provide growth capital to European
entrepreneurs and middle-market companies. Industry
focus is set on telecommunications, services and leisure.
APEN took a founding equity stake in a Swiss investment
company: A & A Venture. A & A Venture targets early
stage companies in Europe and the US. The industry focus
is set on communication, technology and life sciences.
The Company’s Net Asset Value (applying fair values) increased 4.8% to CHF 136.90 per share for the third
quarter. The main drivers were the excellent performance of
the seasoned private equity fund portfolio and the strengthening of the US Dollar. The share price of CHF 164.00 at
quarter end was 8.6% higher than midyear and 31.2%
above the mark at inception in October 1999. The premium
at quarter end amounted to 19.8% (applying fair values).
2
Investitionsrahmen per 30. September 2000
Investment Framework as of September 30, 2000
Expressed as % of Total Assets applying Fair Values
Fund
Investments
AIG
3rd Party
Portfolio Portfolio
Emerging Mkts 6.5%
Mezzanine 0.2%
Distressed 0.5%
Buyout
51.3%
Development Capital 19.1%
Venture 22.4%
Developed Markets
Europe
North America
9.16%
9.02%
Emerging Markets
Israel
Asia
South America
Total
0.49%
4.38%
0.95%
24.00%
16.90%
28.44%
45.34%
Direct
Investments Total
Portfolio
2.52%
3.66%
28.58%
41.12%
6.18%
0.49%
4.38%
0.95%
75.52%
Q U A R T A L S B E R I C H T P E R 30 . S E P T E M B E R 2 0 0 0
Q U A R T E R LY R E P O R T A S O F S E P T E M B E R 3 0 , 2 0 0 0
K O N S O L I D I E RT E B I L A N Z P E R 30 . 9 . 2 0 0 0 *
C O N S O L I D AT E D B A L A N C E S H E E T A S O F 3 0 . 9 . 2 0 0 0 *
in 1000 CHF
30.9.2000
Aktiven /Assets
Umlaufvermögen / Current assets
– Flüssige Mittel / Cash and cash equivalents
– Aktive Rechnungsabgrenzungen / Receivables and prepayments
147 623
1 467
149 090
Anlagevermögen / Long term-assets
– Darlehen /Loans
– Investitionen / Investments
Direkte Investitionen / Direct Investments
Investitionen in Funds / Fund Investments
Vertragliche Vereinbarungen / Contractual agreements (Total Return Swaps)
3 334
19 103
121 150
165 832
309 419
458 509
Total Aktiven /Total Assets
Passiven / Liabilities and Shareholders’ Equity
Kurzfristiges Fremdkapital /Current liabilities
– Passive Rechnungsabgrenzungen / Payables and accrued charges
– Rechnungsabgrenzungen Funds/Payables funds
Eigenkapital / Shareholders’ equity
– Aktienkapital / Share capital
– Agio / Share capital premium
– Reingewinn vom 1. Januar bis 30. September 2000/
Net profit for the period January 1 to September 30, 2000
– Gewinnvortrag/ Retained earnings
– Eigene Aktien/Treasury stock (at cost)
5 586
40 764
317 500
92 321
6 802
–244
–4 220
412 159
458 509
Total Passiven /Total Liabilities and Shareholders’ Equity
KONSOLIDIERTE ERFOLGSRECHNUNG*
C O N S O L I D AT E D I N C O M E S TAT E M E N T *
in 1000 CHF
1.7. - 30.9.00*
1.1. - 30.9.00*
Ertrag / Income
Zinsertrag, netto / Interest income, net
Kapitalgewinn / Capital gains
Diverse Erträge / Other income
Total Ertrag / Total Income
1 258
7 210
0
8 468
2 372
13 643
116
16 131
Aufwand / Expenses
Management fees
Performance fees
Service fees
Wechselkursverlust, netto / Foreign currency exchange loss, net
Sonstiger Betriebsaufwand / Other operating expenses
Total Aufwand / Total Expenses
2 183
636
90
808
544
4 261
5 394
1 570
353
597
1 416
9 329
Reingewinn / Net Profit
4 207
6 802
* Keine vergleichbare Berechnungsperiode im vergangenen Geschäftsjahr
* There is no comparable period for the previous business year
3
Diversifikation nach Lancierungsjahr per 30. September 2000
Diversification by Vintage Year as of September 30, 2000
Expressed as % of Invested Assets applying Fair Values
4
Diversifikation nach Regionen per 30. September 2000
Diversification by Region as of September 30, 2000
Expressed as % of Invested Assets applying Fair Values
in %
30
24.8% 25.5%
25
22.3%
North America 53.2%
20
15
Europe 37.9%
10
6.3%
4.6%
4.1%
5
7.4%
2.7%
0.7%
1.2%
0
85–90 1991
0.4%
1992
1993
1994
1995
1996
1997
1998
1999
2000
South America 0.5%
Israel 0.6%
Global 2.0%
Asia 5.8%
Q U A R T A L S B E R I C H T P E R 30 . S E P T E M B E R 2 0 0 0
Q U A R T E R LY R E P O R T A S O F S E P T E M B E R 3 0 , 2 0 0 0
A I G P R I VAT E E Q U I T Y P O R T F O L I O I N M I L L I O N A S O F S E P T E M B E R 3 0 , 2 0 0 0
Name of Fund
Strategic Focus
Geographic Focus
Inception
AIG Fund Portfolio
AIG American Revitalization Capital Fund
AIG Asian Opportunity Fund*
AIG Blue Voyage Fund
AIG Brazil Special Situations Fund
AIG Developed Mkts Private Equity Fund
AIG Global Sports & Entertainment Fund
AIG Orion Fund*
AIG Orion Fund
CapVest Equity Partners
Dev. Capial
Regional
Regional
Regional
Buyout
Dev. Capital
Venture
Venture
Dev. Capital
North American
Asia
Europe
South America
Europe/US
Global
Israel
Israel
Europe
2000
1998
2000
2000
1999
2000
1999
1999
2000
Subtotal Affiliate Funds
As % of Total Assets
Third Party Fund Portfolio
International Funds
A & A Venture Ltd
AEA Scandinavia I**
AEA Scandinavia II**
Baring Communications Equity Limited**
Carlyle Europe Partners L.P.**
Carlyle Internet Partners Europe, L.P.
Doughty Hanson & Co. III**
Excel Capital Partners III, L.P.**
Klesch Capital Partners L.P.**
Palamon European Equity Fund L.P.**
Schroder German LBO**
Schroder Venture International Trust Plc**
Schroder Venture Italian Fund II**
The Cinven Fund I**
The Cinven Fund II**
Venture
Buyout
Buyout
Dev. Capital
Buyout
Venture
Buyout
Dev. Capital
Distressed
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Europe
Europe
Europe
Europe
Europe
Europe
Europe/US
Europe
Europe
Europe
Europe
Global
Europe
Europe
Europe
2000
1995
1998
1993
1998
2000
1997
1998
1997
1999
1991
1996
1994
1996
1998
Subtotal International Funds
As % of Total Assets
Third Party Fund Portfolio
US Funds
Advanced Technology Ventures VI, L.P
AEA Investors, Inc. I***
AEA Investors, Inc. II***
American Industrial P'tners Capital Fund II, L.P.***
Apollo Investment Fund III, L.P.***
Apollo Investment Fund IV, L.P.***
Bain Capital Fund VI, L.P.***
Bain Capital VI Coinvestment Fund, L.P.***
Baker Communications Fund II, L.P.
Berkshire Fund II, L.P. ***
Berkshire Fund III, L.P.***
Berkshire Fund IV, L.P.***
Berkshire Fund V, L.P.***
Berkshire Fund V, L.P.
Blackstone Capital Partners II***
Blackstone Capital Partners III***
Blackstone Mezzanine Partners, L.P.
Boston Millennia Partners II, L.P.
Carlyle Partners II, L.P.***
Carlyle Partners III, L.P.
Charter Growth Capital II, L.P.
Charterhouse Equity Partners II, L.P.***
Clayton & Dubilier Private Equity Fund IV, L.P.***
Clayton, Dubilier & Rice Fund V, L.P.***
Clayton, Dubilier & Rice Fund VI, L.P.***
Corporate Partners***
DLJ Merchant Banking Partners II, L.P.***
Dubilier CRM Fund I, L.P.***
E*Trade e Commerce Fund, LLC
Evercore Capital Partners, L.P.***
Fenway Capital Partners Fund II, L.P.***
Fenway Capital Partners Fund, L.P.***
GKH Investments, L.P.***
GMT Communications Partners II, L.P.
Greenwich Street Capital Partners, L.P.***
Hoak Communications Partners, L.P.***
JK&B Capital IIl, L.P.
Kelso Investment Associates V, L.P.***
Venture
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Venture
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Venture
Buyout
Buyout
Venture
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Venture
Buyout
Buyout
Buyout
Buyout
Venture
Buyout
Buyout
Venture
Buyout
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
Europe/US
North America
North America
North America
NorthAmerica
North America
North America
North America
North America
North America
North America
North America
North America
North America
2000
1991
1997
1995
1995
1998
1998
1998
2000
1986
1992
1996
1998
1998
1993
1997
1999
2000
1994
1999
2000
1993
1989
1995
1998
1988
1996
1996
1999
1997
1998
1996
1998
2000
1994
1997
2000
1993
CHF
Committed
CHF ****
Invested
3.65
25.25
8.69
17.38
127.34
8.69
1.26
8.69
58.57
–
18.85
0.78
1.77
46.13
2.34
0.19
1.93
32.13
259.52
60%
104.12
24%
2.93
8.89
8.89
4.44
22.22
3.97
15.11
8.89
2.67
8.89
4.62
4.53
0.89
8.89
25.33
2.93
4.86
6.01
4.21
10.16
0.74
9.74
4.09
1.63
1.98
3.65
7.61
1.20
3.34
14.39
131.13
30%
76.57
18%
3.97
2.65
6.36
2.12
2.12
7.95
0.53
0.53
4.77
1.06
1.59
2.23
5.30
6.35
2.12
7.95
4.45
3.97
3.18
6.35
2.38
1.59
1.04
2.12
2.65
2.65
2.12
0.53
3.97
1.06
3.18
3.18
2.65
3.18
2.65
0.42
4.77
2.65
0.82
0.18
3.99
1.89
1.18
7.81
0.43
0.32
1.47
0.28
1.48
2.76
1.29
1.46
0.91
5.81
0.67
0.82
3.00
1.93
0.98
0.96
0.38
1.80
0.58
0.15
1.51
0.25
2.76
0.48
1.20
2.50
2.31
0.33
2.02
0.77
2.21
6.68
Q U A R T A L S B E R I C H T P E R 30 . S E P T E M B E R 2 0 0 0
Q U A R T E R LY R E P O R T A S O F S E P T E M B E R 3 0 , 2 0 0 0
A I G P R I VAT E E Q U I T Y P O R T F O L I O I N M I L L I O N A S O F S E P T E M B E R 3 0 , 2 0 0 0
Name of Fund
Strategic Focus
Geographic Focus
Inception
Kelso Investment Associates VI, L.P.***
KRG Capital Fund I, L.P.***
KRG Capital Fund I L.P.
LJM2 Co-investment Fund, L.P.
Meritage Private Equity Fund, L.P.
Merrill Lynch Capital Appreciation Fund I***
Merrill Lynch Capital Appreciation Fund II***
MLGA, Fund II (Morgan Lewis Githens & Ahn)***
Morgan Stanley Capital Partners III, L.P.***
Morgan Stanley Leveraged Equity Fund II, L.P.***
North Castle Capital Partners II, L.P.***
North Castle Capital Partners II, L.P
Odyssey Investment Partners Fund, L.P.***
Questor Partners Fund II, L.P.***
Questor Partners Fund II, L.P.
Questor Partners Fund, L.P.***
RCBA Strategic Partners, L.P.***
RCBA Strategic Partners, L.P.
Sandler Mezzanine Partners***
Sankaty High Yield Asset Partners***
Silver Lake Partners, L.P.***
Silver Lake Partners, L.P.
Stonington Capital Appreciation 1994 Fund, L.P.***
Technology Crossover Ventures IV, L.P.
Thomas Weisel Capital Partners, L.P.
Thayer Equity Investors Fund IV, L.P.***
Thayer Equity Investors Fund IV, L.P.
Thayer Equity Investors III, L.P.***
TH Lee. Putnam Internet Partners, L.P.
Tullis-Dickerson Capital Focus, L.P.***
Warburg Pincus Equity Partners, L.P.***
WPG Corporate Dev. Associates IV, L.P.***
WPG Corporate Dev. Associates V, L.P.***
Buyout
Buyout
Buyout
Venture
Venture
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Buyout
Mezzanine
Buyout
Buyout
Buyout
Buyout
Venture
Venture
Buyout
Buyout
Buyout
Venture
Buyout
Buyout
Buyout
Buyout
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
North America
1998
1999
1999
2000
1999
1985
1988
1988
1994
1987
1999
1999
1997
1999
1999
1995
1999
1999
1993
1998
1999
1999
1995
2000
2000
1998
1998
1996
1999
1987
1998
1994
1997
Subtotal US Funds
As % of Total Assets
Direct Investments Portfolio
Advanced Medicine Inc
Fresenius Medical Care AG
Magnetic Data Technologies, LLC
Personics Software Inc.
Punch Group Ltd
Rivo Technologies
Universal Studios Escape
Direct Deal
Direct Deal
Direct Deal
Direct Deal
Direct Deal
Direct Deal
Direct Deal
Subtotal Direct Investments
As % of Total Assets
Total of all Investments
As % of Total Assets
North America
North America
Global
North America
Europe
Global
North
2000
2000
2000
1999
1999
2000
2000
CHF
Committed
CHF ****
Invested
3.18
1.59
3.81
3.62
1.59
1.06
2.65
2.12
2.12
2.65
2.65
4.49
1.06
6.36
6.35
3.97
3.18
4.29
2.12
0.85
5.30
5.91
3.18
14.57
5.08
3.18
4.29
2.12
3.97
0.54
10.60
1.06
2.12
1.15
1.75
1.92
2.13
0.67
0.19
0.53
0.25
2.26
0.52
1.90
2.28
0.44
0.48
0.61
2.94
2.70
3.32
0.72
0.97
1.29
1.48
2.49
5.38
2.13
1.46
2.05
2.66
1.73
0.09
6.88
0.37
1.35
239.94
56%
123.47
29%
3.48
1.77
1.74
1.74
8.04
2.61
4.58
3.48
1.77
1.74
1.74
8.04
2.61
4.58
23.95
6%
23.94
6%
654.54
152%
328.10
76%
**** Funds accessed through Total Return Swap I with AIG
**** Funds accessed through Total Return Swap II with AIG
**** Funds accessed through Total Return Swap III with AIG
**** Fair value of capital invested in CHF
Please see Information Memorandum for details of Total Return Swaps
Die vorliegende Publikation dient ausschliesslich der Information des Empfängers. Sie enthält weder Angebote zum Kauf oder Verkauf von Wertschriften.
Diese Publikation enthält Informationen bezüglich der von AIG Private Equity AG getätigten Investitionen in Private Equity Funds. Diese Informationen
enthalten keine Aufforderungen zum Kauf oder Verkauf dieser Fundsanteile. Gemäss aktuellstem Wissensstand der AIG Private Equity AG wurden
bis anhin solche Fundsanteile weder angeboten noch sollen sie in Zukunft angeboten werden.
Angaben zur Wertentwicklung stellen historische Werte dar. Die vergangene Wertentwicklung ist keine Garantie für die zukünftige Wertentwicklung.
Der Wert einer Aktie kann sowohl steigen als auch fallen.
This publication has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer of or an invitation
by AIG Private Equity Ltd. (“the Company”) to any person to purchase or sell securities.
The inclusion of information on investments made by the Company does not constitute an offer to sell any interests in the funds named in this
publication, nor does it constitute the solicitation of an offer to purchase any such interests. To the knowledge of the Company, no such interests are
being offered at this time or are contemplated to be offered at any time in the future.
Performance figures represent historical performance. Past performance is not a guarantee of future performance. The value of a share may go
down as well as up.
Q U A R T A L S B E R I C H T P E R 30 . S E P T E M B E R 2 0 0 0
Q U A R T E R LY R E P O R T A S O F S E P T E M B E R 3 0 , 2 0 0 0
O R G A N I S AT I O N / O R G A N I Z AT I O N
Verwaltungsrat/Board of Directors
Eduardo Leemann, Chairman
Erich Hort, Vice Chairman
Edward E. Matthews
Dr. Roger Schmid
Investment-Ausschuss/Investment Committee
Dr. Thomas Lips, Chairman
William N. Dooley
Win Neuger
Cesar Zalamea
W I C H T I G E I N F O R M AT I O N E N /
I M P O R TA N T I N F O R M AT I O N
Valorennummer /Swiss Security Number
915.331
ISIN: CH0009153310
Ticker: APEN
Handel/ Trading Information
Reuters: APEZn.S
Bloomberg: APEN
Telekurs: APEN
Geschäftsleitung/Management
Rocco Sgobbo, Managing Director
Conradin Schneider, Vice President – Investor Relations
Revisionstelle /Auditors
PricewaterhouseCoopers AG
Stampfenbachstrasse 73
8035 Zürich
ADRESSEN/ADDRESSES
Sitz der Gesellschaft/Registered Office
AIG Private Equity AG
Baarerstrasse 8
CH-6300 Zug/ZG, Schweiz/Switzerland
Phone/Telefon +41 (41) 710 70 60
Fax +41 (41) 710 70 64
Email [email protected]
Tochtergesellschaft /Subsidiary
AIG Private Equity (Bermuda) Ltd.
29, Richmond Road
Pembroke, HM 08
Bermuda
PE P / 1 e,d / 10.00
Internet www.aigprivateequity.com