October 2018 Presentation
Overview Glide Capital (“GLIDE”) offers a platform of unique alternative investment opportunities and an efficient solution to invest into a well-diversified portfolio. GLIDE partners with wealth management firms to build customized portfolios. GLIDE is currently focused on private credit strategies. We believe there is an attractive opportunity given the changes in traditional banking. 2
Structure INVESTORS OWNER INVESTORS INVESTORS Wealth Managers Can Build Their Own ADVISOR A FAMILY OFFICE ADVISOR B ADVISOR C INVESTOR Portfolio. HARD SMALL PRIVATE MONEY CONSUMER BUSINESS LIFE AIRCRAFT CREDIT LENDING LOANS LOANS INSURANCE FUNDS FUND FUND FUND ACCESS TO A SELECT GROUP OF MANAGERS 3
Customize Portfolio Selection CLIENTS ADVISOR SOURCING MANAGER VISITS INVESTMENTS PORTFOLIO DILIGENCE US$ SELECTION SUPPORT EXECUTION REPORTING MONITOR HARD SMALL LIFE OTHER CONSUMER AIRCRAFT MONEY BUSINESS INSURANCE PRIVATE CREDIT FUNDS APPROVED 4
Value proposition: save time and resources Significant $$ savings More time to spend with clients Focus on growing your business Leverage an experienced team Unique offering 5
Solution: The Power of Diversification Access hundreds of loans through multiple funds with one investment. 6
GLIDE: A Fixed Income Replacement GLIDE FUNDS GLIDE aims to provide attractive risk adjusted returns within alternative lending strategies. JUNK BONDS BONDS >-BBB BONDS AAA-BBB U.S. TREASURIES CASH EQUIVALENTS Note: The graph is only an illustration and no actual credit rating has been performed on any GLIDE portfolios. 7
Why Focus on Private Credit? Rapidly growing industry – hundreds of originators and funds provide opportunity for diversification. Investors can benefit from focusing on the private credit industry. Fills a need by lending to consumers, small business, real estate projects that are not efficient for banks to evaluate. Technology enhances efficiency, diversification and transparency. Attractive risk-adjusted returns. Cash distributions. Low correlation to traditional investments. 8
Opportunity: Private Lending Small business loans are decreasing while the demand for loans have been increasing. Regulation has significantly increased the cost of generating loans: Basel III: raised bank capital requirements • Dodd-Frank: increase in compliance cost • Volcker Rule: limit trading activity • Small loans are not profitable for banks. Technology is disrupting traditional lending. Over 2,300 banks have been eliminated since 2000(1) . Borrowers need to look to other sources for loans. Source : (1) Table CBO2 - Federal Deposit Insurance Corporation – Change in Number of Institutions. FDIC - Insured Commercial Banks. https://www.5.fdic.gov/hsob/HSOBRpt.asp (8,317 In 2000 and 5,646 in 2014). 9
Opportunity: Private Lending No branches or costly infrastructure. EFFICIENCY Less regulation. More nimble to operate. Private Lenders provide an enhanced borrowing experience. Focus on collateral instead of FICO and other measures. COLLATERAL Embrace technology and increase data to enhance underwriting Significant reduction in response time Sector or industry expertise. BETTER SERVICE Focus on being a strategic partner to the borrower and better understanding their business. 10
Opportunity: Focus On Private Lending Funds Business Marketplace Development lending uses Companies online “platforms” (“BDCs”) are a to connect HARD SME MONEY form of publicly consumers or registered businesses who company in the seek to borrow United States that money with provide financing investors willing to to small and buy or invest in CONSUMER EQUIP. FNC. mid-sized the loan usually businesses. under US$250K. This form of Some Funds have company was emerged that LIFE LITIGATION created by specialize in a INSURANCE FINANCE Congress in 1980 sub-strategy of as an amendment “marketplace to the Investment lending”, using Company Act of proprietary 1940. models used to AIRCRAFT OTHERS choose specific types of loans. AVERAGE LOAN SIZE ~$20MM< $1MM 11
GLIDE works for you INVESTMENT DILIGENCE RESEARCH PORTFOLIO SUPPORT EXCECUTION REPORTING & SOURCING MONITORING Review selection Qualitative Invest in our Leverage our Unique legal GLIDE reviews Administrator process of funds reports on all fund or build resources and structure allows hundreds of provides monthly and originators investable funds your own experienced the wealth originators/funds account statement available on branded team to build a manager to Verification of web portal portfolio for unique offering efficiently Investment Annual audit for assets with third your clients only for your firm allocate to sourcing through each portfolio parties Analytics on multiple conferences, each fund Optimize Spend more investment referrals, industry Web portal Site visits and against portfolios based time with clients opportunities contacts provides detail of conference calls benchmarks on your existing and prospects portfolio and allocations and Client fills out Select top funds regular updates on References and client goals Client one set of sub within various managers background presentations docs strategies checks and other materials Efficient rebalancing of portfolios 12
Summary Platform accessible to wealth managers and other investors to access unique investment opportunities. Currently focused on lending strategies. Advisors/Investors can build a customized portfolio by selecting from a group of vetted funds, each managed by an expert in that strategy. Advisors leverage GLIDE’s due diligence , analytics, legal structure, consolidated reporting and more. Opportunity for attractive risk-adjusted returns while investing in the real economy. 13
Management Team David Guenoun | Managing Partner As a managing partner of Glide Capital, David is responsible for providing strategic direction and leadership to all aspects of the firm, including selecting managers and business development. David also oversees Iconic Capital’s portfolio management, asset allocation strategies and business development activities. He works closely with clients by providing strategic investment advice and wealth management solutions. Prior to joining the firm, David was CEO of Crystal Capital Partners, LLC, a fund of hedge funds with nearly $1 billion dollars of assets under management at the time. He also worked in investment banking at BNP Paribas, private equity management at Artium Capital Partners, LLC, and fixed income trading at Citibank. David has an MBA from Columbia University and a BS in Banking and Finance from the Universidad Metropolitana. Mark Fitzpatrick | Managing Partner As a managing partner of Glide Capital, Mark is responsible for selecting managers, raising capital and building strategic relationships for the firm. Mark has 20+ years experience in operations and business development roles within the financial services industry. Prior to joining the firm, Mark worked for Crystal Capital Partners, LLC as the Chief Operating Officer before becoming the Director of Business Development. As Director of Business Development, Mark worked closely with regional banks, wealth managers, broker dealers, and family offices to build customized hedge fund portfolios. Prior to Crystal, Mark worked as an auditor in the brokerage industry and in hedge fund administration. Mark holds a Bachelor of Commerce in international business from the University of Lethbridge, Canada and is a Chartered Financial Analyst (“CFA”). 14
Management Team Alberto Siblesz | Managing Partner As a managing partner of Glide Capital, Alberto is responsible for assisting in investment activities and capital raising. Alberto is also a Portfolio Manager of Iconic Capital where he oversees the firm’s portfolio management, compliance regulations, trading activity, and asset allocation strategies. He is involved directly with Smartinvest’s clients, providing them investment advice and financial guidance. Prior to joining Smartinvest Capital, Alberto worked in banking at Citibank Venezuela and CNI – Credit Suisse First Boston. Alberto earned his BS in Finance from Lehigh University. Stefano Tome | Partner As a partner of Glide Capital, Stefano is responsible for assisting with the international business development effort. Stefano is also a partner of Iconic Capital where he is responsible for coordinating the international business development effort and is an active Board Member. Stefano also continues to act as President and Chairman of Turven, a tourism wholesaler in Venezuela. Prior to joining Smartinvest, Stefano worked as a Civil Engineer and participated in several businesses. Stefano is a Civil Engineer from the Universidad Central de Venezuela and completed post-graduate studies in Business and Marketing at the University of California at Los Angeles. 15
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