Conversus Capital, L.P. (NYSE Euronext Amsterdam: CCAP) ("Conversus") today announced that David Belk, Senior Vice President, Global Corporate Strategy & Development of Bank of America ("BAC"), has joined the Board of Directors of its general partner as a Non-Voting Advisor. BAC is a unit holder in Conversus and also holds an equity interest in Conversus´ investment manager, Conversus Asset Management ("CAM"). Under the general partner´s articles, and under arrangements put in place at the time of Conversus´ formation in 2007, each of BAC, Oak Hill Investment Management and CalPERS has the right to appoint a Non-Voting Advisor to the Board of Directors. Mr. Belk fills the BAC Non-Voting Advisor seat, replacing Jim Forbes, formerly Head of Global Principal Investments for BAC.
Mr. Belk joined BAC in 1995 and is responsible for working on various acquisition and divestiture related projects for the Global Corporate Strategy and Development Group, which he joined in 2002. Prior to his current role, Mr. Belk held several senior leadership positions within the Finance Group at BAC including managing the corporate forecasting group. Prior to joining BAC, Mr. Belk worked in the financial services practice of KPMG where he was a senior audit manager. Mr. Belk holds a bachelor´s degree in business administration with a concentration in accounting from the University of North Carolina at Chapel Hill and he is a certified public accountant.
About Conversus Capital
Conversus is a publicly traded portfolio of third party private equity funds with approximately $2.2 billion in assets under management. Conversus provides immediate exposure to a diversified portfolio of private equity assets managed by best-in-class general partners. Conversus´ objective is to maximize long-term unit holder value by harvesting its existing portfolio and returning capital to unit holders. CAM, an independent asset manager, implements Conversus´ investment policies and carries out the day to day operations of Conversus pursuant to a services agreement.
Legal Disclaimer
This press release is not an offer to sell, or a solicitation of an offer to buy, securities in the United States or elsewhere. Securities may not be sold in the United States absent registration with the U.S. Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. Conversus is not a registered investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), and the resale of Conversus securities in the United States or to U.S. persons other than to qualified purchasers as defined in the Investment Company Act is prohibited. Conversus does not intend to register any offering in the United States or to conduct a public offering of its securities in the United States. Conversus is an authorised closed-ended investment scheme for Guernsey regulatory purposes. Conversus is registered with the Netherlands Authority for the Financial Markets as a collective investment scheme which may offer participation rights in the Netherlands pursuant to article 2:66 of the Financial Market Supervision Act (Wet op het financieel toezicht). Past performance is not necessarily indicative of future results.
The common units and related restricted depositary units of Conversus are subject to a number of ownership and transfer restrictions. Information concerning these ownership and transfer restrictions is included in the Investor Relations section of Conversus´ website at www.conversus.com.