Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 32 Page 33 Page 34 Page 35 Page 36 The University of Chicago Booth School of Business, founded in 1898, has been a leader and innovator in the field of business research and education. It was the first business school in the U.S. to offer a PhD program, the first business school to publish a scholarly business journal, the first to offer an Executive MBA program for experienced managers, the first to have a Nobel laureate on its faculty, and the first to have six Nobel Prize winners on its faculty. The University of Chicago Booth School of Business produces ideas and leaders that shape the world of business using instructional methods that combine informative lectures, challenging case discussions and unique guest speakers. John C.Heaton Joseph L.Gidwitz Professor of Finance and Deputy Dean for Faculty, University of Chicago Booth School of Business Tom Hillman Partner, Semaphore 11 DEVELOPED BY LIMITED PARTNERS FOR LIMITED PARTNERS THE UNIVERSITYOF CHICAGO BOOTH SCHOOLOF BUSINESS LEVEL I As the Joseph L. Gidwitz Professor of Finance and Deputy Dean for Faculty, John studies asset pricing, portfolio allocation and time-series economics at The University of Chicago Booth School of Business. The practical problems investors and institutions face are a key component of his teaching. Prior to joining Chicago Booth’s faculty in 2000, John was the Nathan S. and Mary P. Sharp Distinguished Professor of Finance at Northwestern University’s Kellogg School of Management. He also has held positions at MIT’s Sloan School of Management and at the Hoover Institution. John earned his PhD in Economics from The University of Chicago. LEVEL II MODULE 4 Tom is a Partner at Semaphore, a leading global professional services provider of private equity funds- under-management. He has more than 15 years of experience in private equity and venture capital, having raised funds for his private companies and worked for several private equity funds both domestically and internationally including Australia Asia Multimedia Ventures, Rothschild Venture Partners and USTechnologies. Tom has been responsible for fund portfolio management through exit, including mergers and acquisitions, operational support, work-out and deal sourcing.With more than 20 years in general management, operations and new business development, Tom has also been a senior executive with such companies as Control Data, Hewlett Packard, Alliant, Star Technologies, 90East and Scala. He earned his degrees in Biology and Religious History from St. Olaf College in Minnesota and completed a business administration program at the Illinois Institute of Technology.