EFTA00618147.pdf

CONFIDENTIAL & PROPRIETARY A Trusted, Innovative Leader in Global Investing and Wealth Management Company Overview I November 2015 ROCKEFELLER & CO. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618147  CONFIDENTIAL & PROPRIETARY ROCKEFELLER & CO. The information provided in the following pages is intended to provide an overview of Rockefeller & Co., Inc. (the "Company") and is for discussion purposes only. It does not purport to contain all of the information that may be required to evaluate the Company. This information is not intended to predict actual results, which may differ materially from those set forth herein. Unless otherwise noted, estimates or projections contained have been prepared or reviewed by the Company and are based upon certain assumptions involving significant elements of subjective judgment and analysis. Some assumptions on which estimates are based will change or not materialize, and unanticipated events and circumstances will occur. The Company makes no representations or warranties, express or implied, as to the accuracy or completeness of the accompanying information. The Company does not undertake any obligation to supplement or correct this information. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618148  ROCKEFELLER & CO. I. Introduction to Rockefeller & Co. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618149 Rockefeller is an Unrivaled Brand ROCKEFELLER & CO. From our beginnings over a century ago, Rockefeller & Co. has been dedicated to the betterment of the clients we serve Rockefeller & Co. and its subsidiaries' have responsibility for $41.2bn2 in assets for individuals and families, family offices, nonprofit organizations, foundations, endowments and other institutions Differentiation: Successful transition from a private family office for the Rockefeller family to a wealth advisory and investment management firm with over half of our business coming from clients outside of the family Breadth and depth of professionals' experience and expertise in handling complex client situations Long history of managing substantial wealth, utilizing both strong internal capabilities and access to leading external managers Distinctive history of internally managed investments across multiple asset classes Flexibility to offer comprehensive solutions or more tailored services to clients Sincere commitment and accountability to deliver a distinctive client experience, arising from the founding principles of the firm Persistency of client relationships Rockefeller & Co. is organized around three primary areas of expertise: Rockefeller Wealth Advisors Rockefeller Asset (Including the Rockefeller A I Management Rockit® Solutions Trust Companies) 1. Inclusive of the Rockefeller Trust Company. N.A.. The Rockefeller Trust Company (Delaware), and Rockit Solutions. LLC, and are hereinafter collectively referred to as "Rockefeller & Co: 2. As of September 30. 2015. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. 1 This presentation is not valid without a consultation with a representative of Rockefeller & Co. 3 EFTA00618150 Rockefeller is a Storied Institution ROCKEFELLER & CO. Rockefeller remains the financial steward of one of America's great family legacies 1882: John D. I 2005: 2008: Societe Generale Rockefeller established Launched Private Banking a New York office to Rockit® ("SocGen") acquired a manage the Rockefeller 1980: Registered as an 2000: Opened proprietary 37% minority equity family personal and investment adviser with Washington technology interest in the parent philanthropic interests U.S. SEC D.C. office system holding company 1979: Rockefeller & Co. 1985: Launched 1997: Launched 2004: 2012: RIT Capital incorporated as part of its Rockefeller The Rockefeller Opened Partners plc, a London evolution from a single- Trust Company, Trust Company Boston office listed investment trust family office to an N.A.1 (Delaware) chaired by Lord (Jacob) integrated firm Rothschild, acquired the entirety of the investment held by SocGen in the parent holding company 1. Originally chartered in New York and converted to a national charter in 2009. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. 1 This presentation is not valid without a consultation with a representative of Rockefeller & Co. 4 EFTA00618151 Rockefeller Provides a Broad Offering ROCKEFELLER & CO. Rockefeller Wealth Advisors Rockefeller Asset Rockit® Solutions Management Objective investment advice Internally-managed global Proprietary technology and and consulting coupled with equity and fixed-income experienced professionals an open-architecture portfolios, including providing comprehensive investment management sustainability and impact portfolio accounting and platform, along with fiduciary investment strategies reporting and financial planning services The Rockefeller Trust Companies Provide trust and other fiduciary services, including trust administration on a stand-alone or integrated basis through two trust companies — a national trust bank regulated by the Office of the Comptroller of the Currency and a Delaware-chartered limited purpose trust company These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618152 Rockefeller Organizational Structure ROCKEFELLER & CO. Reuben Jeffery III Chief Executive Officer Asset Wealth Rockit Administration and Management Advisory Solutions, LLC Sales (39 Employees) (86 Employees) (76 Employees) (49 Employees) David Harris Raymond Wareham Susan McDermott Yvette Garcia Stuart Hendry David Westbrook Chief Investment Head of Wealth Chief Operating Chief Adm. Officer & Chief Operating Chief Financial Officer Advisory Officer Gen. Counsel Officer Officer Note: As of September 30. 2015. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. 1 This presentation is not valid without a consultation with a representative of Rockefeller & CO. 6 EFTA00618153 Rockefeller Leadership ROCKEFELLER & CO. Reuben Jeffery III is the President and Chief Executive Raymond N. Wareham is the Head of Wealth Officer and a board member of Rockefeller & Co. and Management Services, Managing Director and Senior Rockefeller Financial Services, Inc. Prior to joining Client Advisor of Rockefeller & Co. Prior to joining Rockefeller & Co. in 2010, Reuben was a Senior Adviser at Rockefeller in 2012, Ray was a Senior Managing Director the Center for Strategic & International Studies in for Bernstein Global Wealth Management. Ray previously Washington, D.C., and previously served seven years in spent twenty-four years at J.P. Morgan in corporate the U.S. government in a variety of positions. Reuben finance, M&A, and underwriting capacities in New York, spent eighteen years at Goldman, Sachs & Co., where he London, and Tokyo. Ray received an M.B.A. from Harvard was Managing Partner of the firm's Paris office and of its Business School and a B.S. from Northwestern University. European Financial Institutions Group in London. Reuben received an M.B.A./J.D. from Stanford University and a B.A. from Yale College. Yvette M. Garcia is General Counsel, Chief Administrative David P. Harris, CFA, is the Chief Investment Officer and Officer and a Managing Director of Rockefeller & Co. Prior a Managing Director of Rockefeller & Co. Prior to joining to joining Rockefeller & Co. in 2001, Yvette was a Senior Rockefeller & Co. in 1999, David spent over three years Associate in the Financial Services Group of Willkie Farr & with Stein Roe & Farnham as Portfolio Manager. David Gallagher, LLP. Yvette received a J.D. from Fordham Law received an M.B.A. from Cornell University and a B.A. from School and a B.A. from New York University. She is a the University of Michigan. member of the Board of Directors of Rockefeller Trust Company, N.A., The Rockefeller Trust Company (Delaware) and Rockit Solutions, LLC. David Westbrook is a Managing Director and the Chief Stuart Hendry is the Chief Operating Officer and a Financial Officer of Rockefeller & Co. Prior to joining Managing Director of Rockefeller & Co. Prior to joining Rockefeller & Co. in 2011, David was the CFO at Rockefeller & Co. in 2015, Stuart was the Managing Silvercrest Asset Management. He previously spent 18 Director and Head of Operations at Indus Capital Partners, years with Deloitte & Touche LLP, where he last held the LLC, a registered investment adviser. He previously spent position of Audit Director in the private equity and asset ten years with Bear Stearns Asset Management, where he management practice. David received a Post Graduate held senior positions in operations and technology. Stuart Diploma in Accounting and a Bachelor of Commerce from received an M.B.A. from Fordham University and a the University of KwaZulu-Natal in Durban, South Africa. Bachelor of Arts Degree from Ohio Wesleyan University.. David is a member of the Board of Directors of Rockit Solutions, LLC. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618154  ROCKEFELLER & CO. II. Rockefeller & Co. has a Broad Platform These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618155 Rockefeller Tailors Resources ROCKEFELLER & CO. for Clients' Needs Asset Management Investment Rockite Advisory Information Institutions, Families, Management Foundations, Individuals, Endowments, Family and Offices, and Investment Advisors Tax & Advisors Trust Family Office Services Services Wealth Advisory Provide a Comprehensive Solution or Part of the Solution These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. 1 This presentation is not valid without a consultation with a representative of Rockefeller & Co. 9 EFTA00618156 Rockefeller Provides a Diverse ROCKEFELLER & CO. Advisory Offering Rockefeller Offers Comprehensive Solutions in One Place Asset Management Services Fiduciary Services Non-Profit / Foundation Services Global Equity Corporate Trustee/ Co-Trustee Investment Committee / Board Sustainability & Impact Agent to Personal Trustee(s) Advisory Investments Delaware Trustee Investment Policy Statement Creation U.S. Small Cap Equities Directed Trustee Asset / Liability Management Fixed Income Fiduciary Oversight Foundation & Charitable Trust, Executor/Personal Advisory, and Asset Management Representative Fiduciary Tax Preparation Family Office Services Investment Advisory Services Foundation & Charitable Trust Advisor Coordination Manager Selection Management Philanthropic Planning Non-discretionary Advisory Human Resource Services Alternative Manager Research Family / Trustee Meetings & Consulting Wealth Planning Services Private Banking Advisory Hedge Funds Financial Planning Lending Advisory Private Equity Funds Trust & Estate Planning Insurance Advisory Venture Capital Funds Intergenerational Planning Income Tax Planning Budgeting & Administration Services Cash Flow & Liquidity Budgeting and Administration Outsourced CIO Services Planning Cash Flow/Liquidity Planning & Reporting Asset Location / Entity Income Tax Analysis & Planning Manager Selection Selection Asset Allocation Tax Preparation Governance Planning Financial Reporting Portfolio Construction & Business Succession Monitoring Bookkeeping Advisory Coordination Bill Paying Annual Financial Review These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. I This presentation is not valid without a consultation with a representative of Rockefeller & Co. 10 EFTA00618157 Overview of Rockefeller ROCKEFELLER & CO. Asset Management ■ Long and distinct history ■ Bottom-up research approach ■ Fundamental investors focused on long-term business prospects ■ Team of industry specialists ■ Deeply rooted culture of integrity, transparency and compliance Asset Class Concentration Equity Exposure Breakdown 1.2 % Equity Fixed Income Large Cap HF/PE/VC Funds Cash Multi Cap ■ Other 13.2 % ■ Distressed Debt 65.5% U.S. Small Cap ■ Real Estate Emerging Markets Emerging Markets Total AUM: $9.9bnl 1. Total AUM includes assets embedded in wealth advisory and asset management at September 30. 2015. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. 11 EFTA00618158 Rockefeller Manages a Range of ROCKEFELLER & CO. Sophisticated Investment Strategies Rockefeller Asset Management Rockefeller & Co. Equity Strategies Fixed Income Strategies Global Equity Strategy Core Taxable Fixed Income Strategy Global Sustainability & Impact Equity Strategy Tax Exempt Fixed Income — New York Strategy U.S. Small Cap Equity Strategy Tax Exempt Fixed Income — National Strategy U.S. Large Cap Equity Strategy Short Term Taxable Fixed Income Strategy Non-U.S. Equity Strategy Global Dividend Growth Equity Strategy Multi-Asset Class Strategy Rockefeller Tailored Portfolios Healthcare MLP The Ocean Fund Global Energy Fund These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. 1 2 This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618159 Overview of Rockit° re] ROCKIr'SOLUTIONS Solutions Technology ► A ROCKEFELLER COMPANY Rockit Command Powerful technology Portfolio ViewTm Web-based utilized by family offices, advisors and reporting tool for other professionals to access their clients provides secure 24/7 financial data access to statements and Global Portfolio Management other notices online Integrated General Ledger Accounting Per! eilin View Trust & Partnership Accounting POCKIT ROCKIT • 3••0 • rrltir r •••• Performance Measurement • .•••• • .limme I, W. ,I Ow. 611•2022 • . Automated Reconciliations •••••.•1•••••=•• A444••• alatIVeges••• low ••••••ileywIll•PI,,, 0 Consolidated On-Demand/Ad-hoc Reporting ',moan le:, MGR -1 Budgeting and Administration le.:4•AP ro•• 4........•••••• Web-based Access and Reporting 0 . 20,4 &Qum 1••• Ionim 0.1,411. r••••••••• VieNSINI• Partnership Accounting and Tax ▪••• ••••• tio•s• io WYLY Services Available for those who invest Mb& 1211.111 01••••••••ftlint i. tolo.<4.• Mos MULLIN, COMPIR IIIMENS•0•0 .•••••• •••••• Vs. Isla,. al through family limited partnerships or other pooled investment vehicles, as well Comr••••••••go WM. Yu, VON ••410.11e14) as for specialized needs such as real estate accounting These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. I i3 This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618160  ROCKEFELLER & CO. Ill. Rockefeller & Co. has an Attractive Financial Profile These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618161 Rockefeller has a Robust Asset Profile and a Strong Financial Platform ROCKEFELLER & CO. Robust AUM / AUA Development ($bn) Strong Revenue Profile ($mm)1 .6 °1° CAGFV. 13 $43.8 GNGit 9.0 °I° $ 43.1 $ 89.8 0 - 2014 010 $ 87.4 2O $ 40.2 2 2°A4 $ 19.4 $ 20.3 $73.0 $ 9.7 8 32.1 $63.5 $68.9 Imm $ 25.9 $ 24.2 $ 27.6 $ 15.9 11 $ 14.5 $ 15.5 $18.1 $ 17.1 $ 16.4 $ 11.0 $ 2.5 $ 0.5 $ 7.1 $ 0.3 $ 0.4 $ 10.0 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 UHNW / Trust • Subadvisory Investment Mgmt Wealth Advisory Asset Management • Rockit Rockit • Non-Managed Assets 1. Adjusted to reflect intercompany transfers. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. I This presentation is not valid without a consultation with a representative of Rockefeller & Co. 15 EFTA00618162 Rockefeller has a Diverse and ROCKEFELLER & CO. Long Tenured Client Base Diversified client base... Ultra High Net Worth ... with limited concentration n i ... and long-tenure Institutional Revenue, by Concentration3 Revenue, by Tenure (Yrs) Rockit 4.4% • Top 5 Clients 18.2% 2 and less Next 10 Clients 18.6% 3 to 5 Number of Relationships' • Next 20 Clients 17.3% 6 to 10 59.9% 17.1% Greater than 10 • Remainder 17.8% Ultra High Net Worth Total Revenues: $89.8mm2 Total Revenues: $89.8mm2 Institutional Rockit 1. Each client relationship may be comprised of a number of individual client accounts to reflect structures for investment, estate planning, and charitable or other purposes among constituent relationship members. See also Form ADV for additional information. 2. For year ended December 31, 2014. Pie charts exclude -$0.5mm of revenue attributable to parent company / corporate services operations. 3. Top 5, Next 10, and Next 20 Clients ranked in order of Revenue per pie chart. These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. 1 16 EFTA00618163  ROCKEFELLER & CO. Appendix A: Rockefeller has Strong Investment Performance These materials may not be reproduced or distributed for any purpose without Rockefeller & Co.'s prior written consent. This presentation is not valid without a consultation with a representative of Rockefeller & Co. EFTA00618164 Investment Management Performance ROCKEFELLER & CO. As of September 30. 2015 Assets (imm) Portfolio Performance (%) YTD 1 YR 3 YRS 5 YRS 10 YRS ITO" As of 9/30115 Global Equity Portfolios.' $106.4 -Gross -6.6 -5.3 11.9 11.3 7.1 9.7 (1/93) Net -7.3 -6.2 10.9 10.2 6.1 8.7 MSCI All Country World Index — Net Dividends' -7.0 -6.7 6.8 7.2 4.2 6.8 -Gross +0.4 +1.4 +5.1 +4.1 +2.9 +2.9 Outperformance (+) I Underperformance (-) -Net -0.3 +0.5 +4.1 +3.0 +1.9 +1.9 Tracking Error" 3.15 3.10 2.96 Global Sustainability & Impact Equity Portfolio' $101.1 -Gross -7.7 -6.8 9.6 9.6 6.7 8.5 (1/91) -Net -8.5 -7.9 8.1 8.2 5.2 7.1 MSCI All Country Wodd Index — Net Dividends' -7.0 -6.7 6.8 7.2 4.2 7.9 Outperformance (+) 1Underperformance (-) -Gross -0.1 +2.8 +2.4 +2.5 +0.6 Net -1.5 -1.2 +1.3 +1.0 +1.0 -0.8 Tracking Error" 2.27 3.19 2.92 U.S. Small Cap Equity Portfolios 51133 -Gross -4.4 3.6 11.0 12.8 8.5 12.5 (1/89) -Net -5.4 2.2 9.5 11.2 6.9 11.0 Russell 2000'Index' -7.7 1.2 11.0 11.7 6.6 9.4 -Gross 3.3 +2.4 0.0 +1.1 +1.9 +3.1 Outperformance (+) / Underperformance (-) -Net 2.3 +1.0 -1.5 -0.5 +0.3 +1.6 Tracking Error" 4.60 424 5.16 Balanced Portfolios•'^ $242.8 -Gross -4.1 -2.2 9.3 9.5 7.2 8.8 (1/89) Net -4.7 -3.0 8.4 8.7 6.4 7.9 70% MSCI ACWI — Net Dividends! 30% BCAG Bond Index' -4.5 -3.7 5.4 6.3 4.6 7.7 -Gross +0.4 +1.5 +3.9 +3.2 +2.6 +1.1 Outperformance (+)1Underperformance (-) Net -0.2 +0.7 +3.0 +2.4 +1.8 +0.2 Tracking Error" 2.40 2.42 2.19 'Rockefeller Asset Management Supplemental Information 2015 by Rockefeller & Co.. Inc. All rights reserved. Does not apply to sourced material. Products and services may be provided by various subsidiaries of Rockefeller & Co.. Inc. 20 Please see pages 24-25 for notes. EFTA00618165 Investment Management Performance ROCKEFELLER & CO. As of September 30, 2015 Assets (Smm) Portfolio Performance (%) 1" YTD 1 YR 3 YRS 5 YRS 10 YRS As of 9/30/15 U.S. Large Cap Equity Portfolio 551.7 -Gross -7.0 -1.8 12.5 12.6 7.7 5.0 (7/98) -Net -7.6 -2.6 11.5 11.6 6.8 4A S&P 500 Index -5.3 -0.6 12.4 13.3 6.8 5.0 -Gross -1.7 -1.2 +0.1 -0.7 +0.9 0.0 Outperformance (•) I Underperformance (-) -Net -2.3 -2.0 -0.9 -1.7 0.0 -0.9 Tracking Error" 2.58 2.92 3.31 Non-U.S. Equity Portfolio" 577.2 -Gross -6.0 -9.9 7.4 7.0 5.3 5.9 (7/98) .Net .6.8 -11.0 6.0 5.7 3.9 4.6 MSCI All Country World Index ex USA — Net Dividends& -8.6 -12.2 2.6 2.2 2.1 3.0 -Gross +2.6 +2.3 +4.8 +4.8 +3.2 +2.9 Outpertormance (+) / Underperformance (-) -Net +1.8 +1.2 +3.4 +3.5 +1.8 +1.6 Tracking Error" 4.48 4.02 4.04 Global Dividend Growth Portfolio— 567.1 -Gross -5.3 -3.9 8