Largest and First Billion Dollar Private Equity GIPS® Verified
Also Among First Over-a-Billion with Hedge Fund Traits--
Providence, Rhode Island USA, December 28, 2005
Partners, the firm, has been independently verified as GIPS®
compliant since its inception in 1987. In addition, the performance
record of Japonica’s “Entrepreneurial Co-Investment”
Composite is now audited in accordance with GIPS®. The Composite
includes all of the Firm’s Co-Investment and Limited Partnership
Agreements since inception.
CFA Institute’s GIPS® – Global Investment Performance
Standards – is the current global best practice in ethical
performance reporting. GIPS® is endorsed as a global “passport”,
facilitating greater comparability and integrity of investment
and First over a Billion”
industry practitioners indicate Japonica Partners is the first
firm with a composite over $1 billion in assets verified as compliant
with GIPS® Private Equity provisions. And, Japonica Partners
is also among the first with hedge fund traits having a composite
over $1 billion verified as GIPS® compliant. Held to a higher
standard, Japonica calculates and presents investment returns
using both Private Equity metrics (e.g., Net IRR, TVPI) and hedge
fund metrics (e.g., Time-weighted Total Return).
yet again set a without peer billion-dollar plus global benchmark,
this time with GIPS® verification,” noted Japonica Partners
Founder & Managing Director Paul B. Kazarian. “Japonica
co-investors will recognize the value of having Japonica’s
entrepreneurial returns audited in accordance with GIPS®.”
Partners is an entrepreneurial co-investment firm that makes concentrated
investments in underperforming global large caps. Japonica’s
special core competency is changing corporate cultures to cultivate
entrepreneurial returns for its co-investors who succeed with
top quartile performance. Integral to Japonica’s success
is its patent-pending Top Quartile IRR Hurdle Rate alternatives
selected by co-investors.
largest co-investors include accomplished hedge fund and mutual
fund managers who individually had over $500 million with Japonica.
Japonica will continue to provide customized reports similar to
those provided to its earliest co-investor limited partners –“the
two Michaels”– Michael Steinhardt and Michael Price.
Verification Services, the industry’s premier specialist
firm, performed the verification and audit in accordance with
GIPS®. “Japonica is a firm with a very unique business
model, and the GIPS® compliance verification and performance
examination/audit are indications that Japonica is among the leaders
of the alternative asset pack in comparability and integrity of
performance reporting,” said Jeff Tarumianz, CFA, President
About Japonica Partners:
Japonica Partners is an entrepreneurial co-investment
firm that makes concentrated investments in underperforming global
large caps, providing entrepreneurial returns for accomplished
money managers who succeed with top quartile performance.
more information contact:
Chet Hollister, Principal, Japonica Partners
401.861.6160, firstname.lastname@example.org, www.japonica.com
Institute (formerly known as the Association for Investment Management
and Research or AIMR) recognized the need for a global set of
performance presentation standards, and in 1995, it sponsored
and funded the Global Investment Performance Standards (GIPS®)
Committee to develop a single standard for presenting investment
performance. In February 1999, the GIPS® committee finalized
the GIPS® standards and presented them to the AIMR Board of
Governors, who formally endorsed them.
the release of the GIPS® standards in 1999, the GIPS®
committee was replaced by the Investment Performance Council (IPC),
which serves as the global committee responsible for the Standards.
It consists of 36 members from 15 countries. The principal goal
of the IPC is to have all countries adopt the GIPS® standards
as the standard for investment firms seeking to present historical
investment performance. The IPC endorses GIPS® compliance
acting as a “passport” that allows firms to enter
the arena of investment management competition on a global basis.
industry groups involved in and contributing significantly to
promoting and developing the GIPS® standards include: The
Hong Kong Society of Financial Analysts (Hong Kong), The Security
Analysts Association of Japan (Japan), Swiss Bankers Association
(Switzerland), and National Association of Pension Funds Ltd (United
Kingdom). Today, 25 countries throughout North America, Europe,
Africa, and the Asia Pacific Region have adopted the GIPS®
standards, encouraging investment management firms to follow the
Standards when calculating and reporting their performance results.
North America, the GIPS® standards were based on and preceded
by AIMR Performance Presentation Standards. AIMR-PPS® standards
converge with the GIPS® standards on 1 January 2006.
more information about GIPS:
Beacon Verification Services:
Verification Services, LLC is a leading provider of AIMR-PPS®
and GIPS® compliance verification and consulting services.
Beacon offers superior services due to its extensive experience
in the performance measurement and investment management industries.
mission is to revolutionize the AIMR-PPS® and GIPS® verification
industry so that investment managers demand that verifiers are
proficient in investment management, performance measurement and
governing standards. Beacon’s vision is to become known
as the premier AIMR-PPS® and GIPS® verification firm by
making the firm’s value known through knowledge, hard work
and attention to detail.
services all types of investment management firms ranging between
$20 million and $350 billion in assets under management.
more information contact:
Jeff Tarumianz, CFA
President, Beacon Verification Services
Japonica Partners is a Delaware, U.S.A.,
This document is for informational purposes
only. This is NOT a solicitation of funds,
nor should it be construed as such.
This does NOT constitute an offer, nor the solicitation
of an offer.