February 2 - ACG Pittsburgh - February Breakfast Meeting
February 2 - ACG New York - The Portfolio Company CFO's Roadmap
February 2 - ACG New York - Capital Roundtable Independent Sponsors Conference
February 2 - ACG Denver - Leadership 20 Alumni Breakfast
February 2 - ACG UK - ACG UK Launch Breakfast Meeting
February 2 - ACG Nebraska - 2012 ACG Cup Round 1 Competition
February 3 - ACG Connecticut - ACG CT/XPX CT Joint Breakfast Meeting
February 3 - ACG Chicago - Annual Market Trends Breakfast
February 4 - ACG Wisconsin - Wisconsin ACG Cup - Final Competition 2012
February 5 - ACG Calgary - ACG Calgary 1st Annual Super Bowl Bash
February 7 - ACG Denver - Monthly Luncheon - Speaker: Mike Gordon, Gordon Composites / Polystrand
February 7 - ACG Washington, D.C. & Metro Area - ACG Cup National Capital - MBA Case Study Competition
February 7 - ACG New York - The Making of a Successful PE Portfolio Company CEO February 7- ACG Los Angeles - Rush Hour Traxx Union Station
February 15- ACG Orlando- What makes SMART companies GREAT? February 16 -ACG Los Angeles - Tribal Leadership
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The Association for Corporate Growth (ACG) announced the formal establishment of ACG UK. Headquartered in London, England, ACG UK joins seven existing chapters in Europe that last year saw membership nearly double. ACG UK will hold an inaugural event on 2 February 2012. The event will feature a panel of leading economists moderated by Chris Giles, economics editor for Financial Times. For a full list of the panel, more information on this inaugural event or to register to attend, please visit www.acg.org/uk or email ACG UK chapter executive, Helen Jacobi at acguk@acg.org. Click here to read the full press release.
Milestone number a record for the association which caters to the middle-market growth community
The Association for Corporate Growth (ACG) announced it has achieved a significant membership milestone, surpassing 14,000 members—14,084 members to be exact. This includes 4,073 new members that have joined over the last 12 months, which represents a six percent increase. "This record-breaking membership level is testimony to the hard work of chapter leaders, members and executives," said Gary LaBranche, ACG president & CEO, FASAE, CAE. "It also reflects the strength of ACG in the middle market and the value that it provides to members." ACG continues to be the home for the middle market both in the U.S. and globally. Such growth was underscored in 2011 with the formation and launch of two European chapters in Spain and the Czech Republic and a third planned for Q1 of 2012 in the United Kingdom. Click here to read the full press release.
The summer saw a lull in U.S. private equity activity as the normal summer slowdown was magnified by macro events and uncertainties in Washington, Europe and the overall global economy. Deal flow during the third quarter was slow compared to the first half of 2011, but with a total of 336 completed U.S. private equity deals totaling $31 billion of invested capital, it was not too far away from the quarterly averages (398 deals, $28 billion of investment) seen over the last three years. Exit activity in the third quarter also came in at about par with recent averages at 101 completed exits during the quarter, as PE firms continue to wait for their companies to reach full potential before selling them. PE fundraising experienced a summer lull as well, with only 27 private equity funds reaching a final close on a total of $17 billion during the third quarter. Click here for the full report
SEC approves a final version of the Form PF
On October 26, the Securities and Exchange Commission (SEC) issued a final rule on the Form PF, required due to the passage of the Dodd-Frank Act. As initially proposed, Form PF required Private Equity Funds with assets under management of $150 Million or more to file highly detailed, quarterly reports, including month-by-month valuations of each portfolio company. The costs associated with compliance were estimated at $250K-$500K per firm, per year. In response to the initial proposal, ACG urged members to voice their concerns and comments to the SEC. In addition, ACG worked to ensure that the voice of Middle-Market firms was heard on the costs and practicality associated with compliance. Many ACG members joined this effort, providing testimony and comments to the SEC. In the file rule on Form PF, the SEC responded to the voice of Middle-market firms:
While details remain to be finalized and additional analysis is needed, it seems clear that the more burdensome aspects of the initial Form PF proposed have been significantly reduced. ACG and ACG members helped to shape this outcome by ensuring that the voice of Middle-Market firms was heard.