Terms of Use

TERMS OF USE

In consideration of your use of the content on this Website, You agree to be bound by these Terms.  We may update these Terms at any time by posting such updated versions on our Website without prior written notice to you.  We suggest you review these Terms periodically for changes.  By continuing to use this Website, you consent to any updated version of these Terms posted on this Website.

Content is for General Information

This Website is intended to provide general information about PCP Managers, L.P., PCP Managers II, L.P., PCR Managers, L.P., PCap Company, LLC and their affiliates (collectively, “Parthenon”) and d/b/a Parthenon Capital Partners.  All information on this Website is provided as a courtesy and is for general information only and does not constitute financial or investment advice nor any offering or solicitation of offers to purchase any security.  Use of this Website does not create any client relationship between you and Parthenon.

Certain information made available on this Website may be derived from or pertains to third parties, including the portfolio companies in which Parthenon has invested.  While we believe such information has been provided from trustworthy third parties, no independent review, valuation or analysis has been made to verify the accuracy of any such third party information.  In addition, we may change, add or remove some or all of the content on this Website at any time and reserve the right to discontinue or suspend any portion of this Website at any time for any reason.  Any content on this Website consisting of disclosure of events or circumstances does not create any duty or other obligation on the part of Parthenon to update you as to subsequent developments pertaining to such events or circumstances.

This Website is intended for U.S. audiences only. If you live outside the United States, you may see information on this Website about opportunities or services that are not available or authorized in your country.

No Modification of Contractual Provisions

These Terms do not amend or supersede any existing agreements you have with Parthenon.  If you are an investor in a pooled investment vehicle, funds-of-one, separate account or similar investment vehicle (together, “Funds”), you may have been granted access to a separate web portal maintained by Parthenon (the “PCP Portal”), a link to which is available on the home page of our Website under the tab “LP-Login”.  You must access the PCP Portal by using a uniquely assigned investor log-in (“password”).  Your use of the PCP Portal (including use of your password) are governed by the applicable terms and conditions of the constituent documents of the Fund(s) in which you have invested, as well as any user agreements applicable to the PCP Portal, and all applicable laws and regulations.    You agree to maintain the confidentiality of your password and you remain responsible for all usage of the PCP Portal through your account by you or anyone else.  You must immediately notify us of any known or suspected unauthorized use of your password or any other login information or any known or suspected breach of security, including loss, theft, or unauthorized disclosure of your password or other log-in information.

Unauthorized Access to PCP Portal is Prohibited

If you do not have a password or other written permission from Parthenon to access the PCP Portal, you agree not to access to attempt to access the PCP Portal for any purposes.  Unauthorized access to the PCP Portal is strictly prohibited, and Parthenon reserves all rights to take any and all actions necessary to prevent any such unauthorized access.

Confidentiality

The content in the PCP Portal is confidential and is subject to the confidentiality provisions contained in the constituent documents of the Fund(s) in which you have invested. As an investor in one or more of the Funds, or a representative of such an investor, you are subject to those confidentiality provisions.

Certain of the content in the PCP Portal may include material non-public information regarding the Funds and their underlying portfolio companies. It is a violation of U.S. securities laws for a person in possession of material non-public information concerning an issuer to purchase or sell securities of such issuer or to communicate such information to another person under circumstances in which it is reasonably foreseeable that such person is likely to purchase or sell securities.

Limited License

Subject to these Terms, Parthenon grants you a personal, nontransferable, nonexclusive, revocable, limited license to view the Content on the Website for the sole purpose of learning information. The content in this Website may not be reproduced or redistributed in any manner without Parthenon’s prior written consent.  However, you may print a reasonable number of copies of the Content for your personal use, but in such case you must reproduce all proprietary copyright and trademark notices. All rights, title and interest in and to the website, including the Content, and all intellectual property rights, including all copyright, trademark, patent and trade secret rights therein shall remain with Parthenon and our respective licensors as may be the case, and no ownership interest is transferred to you or any other entity by virtue of making the Content available on this Website or granting you these limited licenses.  This Website may include trademarks or logos belonging to other third-party licensors.  All rights are reserved.  Parthenon may terminate this license at any time and without prior written notice.

Past Performance Not Indicative of Future Results

Past performance is not an indication of future results. Any investment entails a risk of loss, including loss of the entire investment.  Any performance information pertaining to any Fund or portfolio company in this Website is intended solely to provide prospective investors with information about the private equity funds advised by Parthenon.  Past performance of any investments described herein is included solely for purposes of illustrating Parthenon’s significant investment experience in the middle market and its focus on private equity investments in its targeted sectors, and is not indicative of any Fund’s future investment results.  The investment strategy and target rates of return of each Fund may vary significantly from the investment strategy used by Parthenon on behalf of any other Funds and their target rates of return.  There is no assurance that any Fund will achieve comparable results or even its targeted returns. Targeted investment characteristics may not be indicative of future investment characteristics and investment results may vary substantially over time.

Unless expressly stated otherwise, all performance data included on this Website, including valuations of investments, is unaudited and is subject to change.

No assumption should be made that any portfolio company investment described on this Website as having any remaining value will be realized at such value or will be profitable. The ultimate return on unrealized investments and on the unrealized portion of partially realized investments depends on a number of factors and assumptions, all of which are outside the control of Parthenon, most likely will vary from the returns on such investments reflected on this Website. Thus, the return for each such investment calculated after its complete realization most likely will vary from the return shown for that investment.  Similarly, if a Fund has unrealized or partially realized investments, the return for the Fund calculation after the complete realization of all of its investments most likely will vary from the return shown for such Fund in the aggregate.

The performance information of the Funds contained on this Website is based in part on hypothetical assumptions and for certain unrealized investments, projected performance. Such results are presented for illustrative purposes only and are based on various assumptions, not all of which are described herein.  No representation or warranty is made by Parthenon or any of its affiliates as to the reasonableness of such assumptions or as to any other financial information contained in the performance information (including the assumptions on which they are based).  These assumptions have certain inherent limitations, and will be affected by any changes in the structure or assets of the Funds. The actual performance of any portfolio company or Fund will differ, and may differ substantially, from that set forth in the performance information, including the possibility of losses to investors.  No representation is made that such performance information is accurate or complete or does not contain errors, or that alternative modeling techniques or assumptions would not be more appropriate or produce significantly different results.  The performance information is provided on the understanding that a sophisticated investor will understand and accept its inherent limitations, and will not rely on it in making any investment decision with respect to any securities that may be issued.

In considering any performance data contained in this Website, the recipient should bear in mind that past, projected, or targeted performance is not indicative of future results and there can be no assurance that any Fund will achieve comparable results or that targets will be met.  The recipient should also bear in mind that past or targeted investment characteristics may not be indicative of future investment characteristics and there can be no assurance that a Fund will have comparable investment characteristics or that target investment characteristics will be achieved.  There can be no assurance that a Fund’s investment objectives will be achieved and investment results may vary substantially over time.  Investment in a Fund is not intended to be a complete investment program for any investor.

Investing in a Fund includes significant risks, including the loss of all of your investment. Nothing contained herein shall constitute any representation or warranty as to future performance. The performance information does not purport to contain all of the information that may be required to evaluate an investment in any Fund and each recipient is encouraged to read the offering materials pertaining to the applicable Fund prior to making an investment therein, and should conduct its own independent analysis of the performance data pertaining to a Fund and its portfolio companies.

Except as set forth in the PCP Portal, performance information does not represent the returns of any particular investor and are gross of fund level expenses, fees (including management fees), carried interest paid to Parthenon over the life of a Fund, and do not take into account any taxes applicable to any such amounts that are borne by the investors in a Fund, all of which, when taken in the aggregate, are substantial. Performance information does not represent the amounts actually distributed to investors of any Fund or the amount of income allocated to investors.

Forward-Looking Statements

This Website contains “forward looking statements, “ which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “continue,” “intend,” or “believe” or the negatives thereof or other variations thereon or comparable terminology.  Due to various risks and uncertainties, actual events or results or the actual performance of any Fund may differ materially from those reflected or contemplated by such forward-looking statements.

NO WARRANTIES

ALL CONTENT ON THIS WEBSITE IS PROVIDED TO YOU ON AN “AS IS”, “AS AVAILABLE” BASIS.  PARTHENON AND ALL THIRD PARTIES WHO HAVE PROVIDED INFORMATION FOR THIS WEBSITE (COLLECTIVELY, “WEBSITE-RELATED-PARTIES”) HEREBY DISCLAIM ALL WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT.

THE WEBSITE-RELATED-PARTIES MAKE NO REPRESENTATIONS OR WARRANTIES THAT USE OF THIS WEBSITE WILL BE UNINTERRUPTED OR ERROR-FREE. YOU ARE RESPONSIBLE FOR TAKING ALL PRECAUTIONS NECESSARY TO ENSURE THAT ANY CONTENT YOU MAY OBTAIN FROM THIS WEBSITE IS FREE OF VIRUSES AND ANY OTHER POTENTIALLY DESTRUCTIVE COMPUTER CODE.

Some states do not allow limitations on implied warranties, so one or more of the above limitations may not apply to you.

LIMITATION OF LIABILITY

YOU AGREE THAT NONE OF THE WEBSITE-RELATED-PARTIES SHALL BE LIABLE FOR ANY DAMAGE RESULTING FROM YOUR USE OR INABILITY TO USE THIS WEBSITE OR THE CONTENT. THIS PROTECTION COVERS CLAIMS BASED ON WARRANTY, CONTRACT, TORT, STRICT LIABILITY, AND ANY OTHER LEGAL THEORY. THIS PROTECTION COVERS THE WEBSITE-RELATED-PARTIES, INCLUDING ALL AFFILIATES, AND THEIR OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS. THIS PROTECTION COVERS ALL LOSSES INCLUDING, WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, AND PUNITIVE DAMAGES, PERSONAL INJURY/WRONGFUL DEATH, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION.  YOU AGREE THAT THE TOTAL, CUMULATIVE, LIABILITY OF THE WEBSITE-RELATED-PARTIES, INCLUDING ALL AFFILIATES, AND THEIR OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS, IF ANY, FOR LOSSES OR DAMAGES SHALL BE LIMITED TO THE AMOUNT OF YOUR ACTUAL DAMAGES, NOT TO EXCEED U.S. $1.00.  THE LIMIT OF LIABILITY MAY NOT BE EFFECTIVE IN SOME STATES. IN NO EVENT SHALL THE WEBSITE-RELATED-PARTIES, INCLUDING ALL AFFILIATES, AND THEIR OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS, BE LIABLE TO YOU FOR ANY LOSSES OR DAMAGES OTHER THAN THE AMOUNT DESCRIBED ABOVE. ALL OTHER DAMAGES, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE, RESULTING FROM ANY USE OF THE WEBSITE OR CONTENT ARE EXCLUDED EVEN IF THE WEBSITE-RELATED-PARTIES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. YOU AGREE THAT YOU USE THIS SITE AT YOUR OWN RISK. IF YOU ARE DISSATISFIED WITH THIS WEBSITE OR THE CONTENT, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE WEBSITE.  WITHOUT LIMITING ANY OF THE FOREGOING, YOU AGREE TO HOLD PARTHENON HARMLESS FROM AND AGAINST ANY LOSS, LIABILITY, DAMAGE, DESTRUCTION OR LOSS OF DATA OR OTHER ADVERSE IMPACT ON YOU, YOUR HARDWARE, SOFTWARE OR OTHER COMPUTER SYSTEMS, ARISING IN ANY WAY OUT OF PARTHENON’S EFFORTS TO PREVENT ANY UNAUTHORIZED ACCESS TO THE PCP PORTAL.

Governing Law

These Terms are governed by the laws of the Commonwealth of Massachusetts without reference to its choice of law principles.  You further agree that any action arising from or related to your use of this Website shall be brought against Parthenon and its Affiliates solely in the state or federal courts located in Boston, Massachusetts.  You agree to be subject to the exercise of personal jurisdiction in these courts in connection with any such dispute.  These Terms constitute the entire agreement pertaining to your use of this Website.  If any provision of this Terms is determined to be invalid or unenforceable, such provision shall be deemed to be omitted solely to the extent of such invalidity or unenforceability and the remainder of these Terms shall remain in full force and effect.

Warning Regarding Web Fraud and Phishing

When communicating with Parthenon through digital media, please:

  1. Confirm you are visiting a Parthenon authorized website. Parthenon’s only authorized website is www.parthenoncapital.com.  No other web site domains are authorized by Parthenon.
  2. Do not share your password or other log-in credential for the PCP Portal with anyone. Parthenon will never ask you to disclose your password or other log-in credentials except for purposes of accessing the PCP Portal.   (If you forget your password, we will issue you a new one.)
  3. Do not communicate or deal with any person who is not affiliated with our Boston or San Francisco offices. Parthenon does not have any other office locations and does not conduct any operations outside of the United States.
  4. Do not send e-mails to anyone with an address other than authorized Parthenon e-mail addresses. Parthenon does not permit our employees and authorized representatives to send or receive work related e-mails from personal accounts, by text or any other address.

Contact Information

Thank you for visiting our Website. Please contact us if you have any questions about our Website, these Terms or accessing the PCP Portal.

Effective Date

These Terms are effective as of August 1, 2017.