Global Capabilities Brochure

Our Work. Our Values. Our Firm.



Every day, we employ the talents of more
than 1,300 exceptional individuals worldwide.
Investment bankers. Asset managers.
Research analysts. Trading specialists.
But ultimately, we measure our success as a
firm by the success of our clients—helping
them pursue their aspirations today while
fueling even greater ambitions for tomorrow.
Ideas evolve. Understanding grows.
And a brighter future unfolds.

Tomorrow Awaits.

Table of Contents

01 Introduction

Who We Are
We have the freedom to put your interests first, just as a true partner would.
We share your vision—and are prepared to see it through.

02 Our Business

What We Do
We deliver solutions that are as diverse as the people and organizations we serve.
Investment Banking
Institutional Asset Management
Private Wealth Management
Equity Research
Institutional Sales & Trading

09 Our Values

Based on Our Founder’s Principles
By building enduring relationships with our clients, we help individual and
institutional clients achieve their objectives. We provide expertise and solutions
to meet our clients’ evolving needs.
Global Expertise
Investment Culture
Invested in Our Communities
Long-Term Relationships

14 Financial Stability

Owning Our Responsibilities
As a 100% employee-owned firm with a strong balance sheet, we have the freedom to
remain steadfastly focused on our clients’ long-term success through all market cycles.
Consolidated Statement of Financial Condition
Partner List
Locations
Disclosure and Memberships

Introduction
Who We Are

Whether we are strengthening In our industry, the strength of a “When you get down
the portfolios within a company’s relationship is not measured by the to it, the investment
retirement plan, guiding a company number of years or the number of business is about
through an important stage of its transactions. It is defined by how well relationships. And
growth, or helping a family create we understand our clients and our relationships are
an enduring financial legacy across ability to help them reach their goals. built on trust and
generations, our success depends on That is why we consider the trust that performance—over
our ability to understand our clients’ our clients place in us—year after year, the long term. That
goals and deliver valuable solutions. transaction after transaction, and is why we do not
market cycle after market cycle— measure success
The advice we provide takes many to be the ultimate validation of one quarter, one
different shapes. But we approach our approach. transaction, or one
each relationship from the same trade at a time.”
perspective—the perspective of a As an independent, employee-owned
true partner who is committed to firm, we have the freedom to put your
your long-term success. Wherever interests first, just as a true partner
our clients come to us from, we would. We share your vision—and we
are there to provide the rigor and are prepared to see it through.
expertise to help them capitalize on
the opportunities and navigate the Sincerely,
risks they face.

John Ettelson
President & CEO

William Blair 1

Our Business
What We Do

Though it now spans many disciplines and four continents, our work
has always been driven by the ever-evolving needs of our clients.
As an independent global investment banking and asset management
firm, we have the freedom to pursue our ideas—and the means to apply
them. All of this adds up to a caliber of service without equal.

William Blair Revenue (as of December 31, 2015)

$1000

$942.1 million

$800

$600 36%

$400 Investment Banking

$200 13%

$0 Private Wealth Management
1970 1975 1980 1985 1990 1995 2000 2005 2010 2015
14%

Institutional Sales & Trading

37%

Institutional
Investment Management

2 William Blair

Our Firm By the Numbers

1,300+ 1,976

employees worldwide completed transactions on behalf
of our clients since 2010
18
630+ companies
offices across four continents
under equity research coverage

$72 billion

in client assets as of December 31, 2015

Global coverage with combined William Blair offices and
investment banking affiliates through strategic alliances.†

† Affiliate offices noted in green. William Blair made a minority investment in BDA Partners in October 2011.
William Blair has a strategic alliance with Poalim Capital Markets in Israel and Allier Capital in Australia.

William Blair 3

Our Business
Investment Banking

Innovative solutions and rigorous execution that empower our clients
to achieve their growth, liquidity, and financing objectives

Advisory Financing Execution Excellence
As a proven leader in mergers and Our public equity, debt, and private Drawing on the collective
acquisitions, we work diligently to equity financing expertise and intellectual capital and
identify the optimal transaction distribution capabilities enable issuers deep sector expertise of a
partners and deliver outstanding to enter the market with confidence global team that spans more
outcomes for our clients. We have and assurance. Since 2011, we have than 20 cities on five continents,
completed more than 360 M&A been involved in approximately 20% we have advised on more than
transactions totaling more than of U.S. IPOs and helped clients raise $200 billion in completed
$95 billion since 2011, including approximately $120 billion to finance transaction volume since 2011.
transactions in more than 25 their growth and strengthen their
countries. Through relationships financial positions. 360+
with industry-leading strategic
acquirers, financial sponsors, By connecting growth-oriented M&A transactions totaling
business owners, and leveraged companies with a network of high- $95 billion since 2011
finance providers, we help companies quality, long-term investors, we
maximize the strategic and financial deliver compelling results for issuers $100+ billion
value of each transaction. of IPOs, follow-on offerings, and other
equity-linked transactions. We provide of equity capital raised
We are a trusted advisor to some of the advisory, placement, and underwriting for clients through
world’s most sophisticated publicly services for companies looking to more than 400 equity
traded companies. Drawing on our raise capital through private equity, and equity-linked
deep transaction experience and leveraged finance, corporate debt, transactions since 2011
independence, we help boards, special and credit tenant lease transactions.
committees, and management teams We are a leading provider of financing 990+
evaluate major corporate transactions solutions for public agencies,
and maximize shareholder value. governments, school districts, and debt transactions totaling
Serving both private- and public- other tax-exempt borrowers. $19 billion since 2010
sector clients, our dedicated public
private partnership team has Nearly 70%
facilitated some of the most innovative
and noteworthy investments of private of business in 2015
capital in public infrastructure. (excluding IPOs)
involved repeat clients

4 William Blair

Our Business
Institutional Asset Management

Seeking to deliver sustainable performance across
market cycles, asset classes, and geographies

Trusted Capabilities Global Expertise Sustainable Client Value
Leading institutional investors rely In our pursuit of strong risk-adjusted
on our investment management performance, we take an unconstrained $64.7 billion
capabilities and deep intellectual capital. view of the investment opportunity
As of December 31, 2015, we manage set across our spectrum of capabilities. in assets under management,
more than $64 billion* for leading This broad perspective, coupled with as of December 31, 2015*
institutional investors, such as AT&T, collaboration and idea sharing across
Bank of America, SEB Group, the investment teams, has underpinned 25 years
W.K. Kellogg Foundation, and the our research efforts throughout our
Washington State Investment Board.† history. Approximately 60% of assets average industry experience
under management are invested in of portfolio managers
We are dedicated to helping non-U.S. equity strategies.
corporations, endowments and 39%
foundations, public funds, not-for- Disciplined, Research-Driven Process
profit organizations, Taft-Hartley At William Blair, our investment of our top 100 institutional
union trust funds, and financial teams are solely focused on active clients are invested in multiple
advisors strengthen their portfolios management and employ a time- William Blair strategies‡
and meet the challenges of volatile tested investment process that we
markets. We honor the trust our clients rigorously apply across investment
have placed in us through transparency strategies: domestic equity (growth and
and a relentless focus on alpha. An value), international and global equity
important factor in our goal of delivering (growth), fixed income, multi-asset,
outperformance is the management and alternatives. These strategies are
of capacity and inflows. We have a available across an array of investment
long history of proactively addressing vehicles, including separate accounts,
potential capacity issues before they collective investments trusts, SICAV
arise and have closed certain strategies products, and mutual funds. Consistent
to new investors in order to protect the and repeatable, our process is designed
integrity of our investment portfolios to deliver sustainable performance
and put client interests first. across varying market environments.

* “William Blair” assets under management refers to William Blair Investment Management, LLC and the investment
management division of William Blair & Company, LLC.

† The client list is a partial listing of clients that have authorized their name for such use. William Blair selected clients for
inclusion in this list to indicate the scope of clients served using the following criteria: category, geographic location, size,
investment style. and name recognition. It is not known whether the listed clients approve or disapprove of William Blair
or the advisory services provided.

‡ Top 100 institutional clients are based on amount invested.

William Blair 5

Our Business
Private Wealth Management

Building enduring partnerships to help investors grow,
manage, and protect their financial resources

Family Wealth Conference

The conference provides an
intimate audience with experts
covering the interpersonal
and investment issues facing
high-net-worth families,
including estate planning,
family business succession
planning, and teaching the next
generation about family wealth.

Relationship-Focused Our internal capabilities in equities,
We build client relationships the same fixed income, and global macro
way we approach investing: for the strategies are complemented by
long term. With an average tenure at an open-architecture platform of
William Blair of 13 years, our financial best-in-class external managers
advisors have a deeper understanding across asset classes.
of each client’s unique objectives
and circumstances. Viewing each Corporate and Executive Services
piece of your financial life as part of Companies turn to us for objective
a larger mosaic, we provide wealth advice and effective solutions for
management that integrates each managing corporate cash flow, equity-
aspect into one holistic plan—from based compensation, retirement plans,
risk management and tax efficiency and other strategic initiatives. We help
to retirement planning, wealth executives diversify their wealth and
transfer, and philanthropy. navigate the tax and regulatory issues
relating to option exercising, Rule 144
Active Portfolio Management sales, and Rule 10b5-1 plans.
At William Blair, we serve many
different clients: individuals, families,
foundations, endowments, and closely
held businesses. Each of these clients
benefits from the firm’s disciplined,
rigorous approach to portfolio
management, which is backed by the
firm’s highly respected institutional
investment capabilities.

6 William Blair

Our Business
Equity Research

Providing clients with the resources and insight
needed to prosper in dynamic global markets

Coverage Award-Winning Research Team Intellectual Independence
Through exhaustive fundamental The 2016 Greenwich Associates
research and unique insight derived survey of small- and mid-cap 630+
from independent thinking, our portfolio managers highlights
award-winning equity research William Blair’s tremendous ability companies under equity
analysts strive to identify companies to deliver high-quality service research coverage
that can deliver superior investment and research-driven insight to
returns for our clients. We provide institutional investors. William Blair’s No. 1
in-depth coverage of more than 630 equity research was ranked No. 1
growth-oriented companies in the for “information and insights that “Information and insights
following industry sectors: consumer; generate alpha - peer competitors,” that generate alpha - peer
financial services and technology; “make most calls and visits,” and competitors,” from the
global industrial infrastructure; global “quality of equity analyst service,” and 2016 Greenwich Associates
services; healthcare; and technology, No. 2 for “greatest knowledge survey of small- and mid-cap
media, and communications. of companies and industries.” portfolio managers

Thought Leadership No. 1
Players across the investment
industry look to William Blair’s “Quality of equity analyst
equity research analysts for service,” from the 2016
perspective and alpha-generating Greenwich Associates
investment ideas. In addition to our survey of small- and mid-cap
flagship Growth Stock Conference, portfolio managers
we also host industry summits and
investor events around the world to
deliver valuable insight to our clients.

William Blair 7

Our Business
Institutional Sales & Trading

Delivering superior investment ideas, access to senior
management, trade execution, and underwriting

Equities We maintain a healthy inventory Growth Stock Conference
When growth companies need to of taxable and tax-advantaged
connect with an audience of quality preferred stocks, and we actively The Growth Stock Conference
investors, they turn to William Blair. participate as underwriters and is a premier investor forum
By leveraging our long-standing distributors for new issues. for high-ranking senior
relationships with institutional management to meet and
investors across North America Corporate Access exchange ideas. The
and Europe, we offer world-class Drawing on the strength of our 35th Annual Growth Stock
distribution for growth-oriented relationships with investors Conference in 2015 hosted
issuers. Our institutional equity around the world, we connect nearly 5,000 one-on-one
trading provides superior customer companies with an audience of key meetings between investors
service and optimized trade execution decision-makers. Through our annual and executives from about
for more than 3,000 listed, over-the- Growth Stock Conference, road 230 presenting companies.
counter, and preferred stocks. shows, and one-on-one meetings,
our domestic and international
The 2016 Greenwich Associates equity salesforce facilitates the flow
survey of small- and mid-cap of information between investors
portfolio managers highlights our and management of quality growth
tremendous performance in delivering companies. Our corporate access
high-quality service and research- professionals work closely with
driven insight to institutional investor relations teams to design
investors. William Blair’s sales and coordinate non-deal road show
efforts were ranked No. 1, No. 2, or itineraries that are customized to each
No. 3 in four categories, including company’s objectives.
“best coordinate access to analyst,”
“provide intensive service,” and
“best tailored research calls and
services to client-specific needs.”

Fixed Income
As one of the leading national
underwriters of state and municipal
debt, we maintain an active inventory
of investment-grade municipal
bonds and serve as underwriter on
competitive and negotiated issues
and as remarketing agent for variable-
rate issues. We distribute and trade
corporate debt issues and maintain an
inventory of corporate, convertible,
asset-backed, and mortgage bonds.
As market makers in more than
500 preferred securities, our team
provides liquidity and market
information for our clients.

8 William Blair & Company

Our Values
Based on Our Founder’s Principles

Founded in 1935, our company began with a
promise. It would be conservatively financed.
It would stand for honest dealings and sound
corporate advice. And most importantly, it would
recommend only investments that it could vouch
for based on diligent research. Today, even with
offices spanning four continents, these same
principles run through everything we do.

William Blair 9

Our Values
Global Expertise

Boots on the ground with 18 offices across four continents, we
leave no market unexplored in the pursuit of our clients’ success

Every day, the world becomes more The most innovative companies, the The Global Pursuit
interconnected. That is why we most attractive growth opportunities, of Opportunity
believe our clients are best served by and the best counterparties are
an approach that combines a global increasingly found outside traditional 55%
perspective and local understanding developed markets. Across our asset
gained by having feet on the ground management, investment banking, of institutional assets under
around the world. research, and sales and trading efforts, management are invested in
we are committed to finding the best non-U.S. equity strategies
opportunities for our clients regardless
of language or hemisphere. 32%

of M&A transactions since
2010 are cross-border

20+

countries represented
among our equity
research coverage

10 William Blair

Our Values 2012-2015
Investment Culture
named one of Pensions &
William Blair will always be a place for those who Investments’ Best Places to
are passionate about the craft of investing Work in Money Management

Collaborative Process-Driven 7 years
The quality of our people and their We know that process is the key to
passion for investing will always be sustainable results—but only if applied average tenure of William Blair
our most valuable asset. We have with daily rigor and discipline. Across research analyst
created an environment where our investment strategies, we employ
investment professionals and sector a consistent, repeatable process that 14 years
experts can thrive and focus on the is designed to deliver performance
things that truly create value for our that meets our clients’ expectations average tenure of William Blair
clients. Ours is a highly collaborative in varying market environments. portfolio manager
culture where people are free to For each investment banking client,
pursue independent ideas and we draw on our deep knowledge
empowered to develop those ideas of the sector’s growth dynamics to
with fellow experts across sectors, drive highly competitive processes
asset classes, and product areas. to deliver the best price, terms, and
certainty of close.
Over the past four years, the strength
of our culture has been recognized by
Pensions & Investments (No. 4 in 2015
and No. 3 in the 2012 and 2013 “Best
Places to Work in Money Management”
for midsize companies), Vault (No. 5 for
employee satisfaction and No. 6
for culture in the “Banking Employer
Rankings 2015”), Fortune (No. 9
in the “20 Great Workplaces in
Financial Services” for 2015), and the
Chicago Tribune (named to the “Top
Workplaces” list every year since 2010).

William Blair 11

Our Values $1.8 million+
Invested in Our Communities
donated in 2015 to invest
Building a stronger tomorrow by in our communities
investing in our communities today
400+
We are committed to being a long-term partner to the communities in which we live
and work. This is a legacy we inherited from our founder more than 80 years ago and charitable organizations
proudly continue today. supported by the firm and
its foundation in 2015
Community Engagement
William Blair and its foundation provide financial support to hundreds of charities 2016 Community Partners
every year. The firm’s employees nominate nonprofit organizations for our
Community Partners program, through which we provide meaningful financial Bernie’s Book Bank
support and employee volunteers. Through this program, we have supported helps increase book
college preparation and graduation initiatives, established mentoring relationships, ownership among children
provided new computer labs for after-school and summer programs, supported throughout Chicagoland.
arts education in public schools, and brought nutritious food to school children
and their families. In 2016, Bernie’s Book Bank and Urban Initiatives were named Urban Initiatives
Community Partners. We are also a proud supporter of Bunker Labs. empowers children to adopt
healthy lifestyles and improve
Making a Difference Around the Globe, One Employee at a Time their academic performance.
Each year William Blair employees contribute to hundreds of charitable
organizations through their time, financial resources, and leadership. Around the William Blair is also proud
world, from San Francisco to Frankfurt, employees are active in their communities, to support Bunker Labs,
supporting food banks, environmental programs, and educational organizations. an organization focused on
Our employees collect coats for Wrap Up London, help fight homelessness in launching and accelerating
Zurich, and sponsor an annual youth art competition to celebrate the legacy of veteran-owned businesses.
Anne Frank in Frankfurt. William Blair’s employee matching gifts program furthers
the support of our employees in their communities.

12 William Blair

Our Values Continuity and Stability
Long-Term Relationships
65%+
We believe true success is measured over the long run, built
by enduring relationships and understanding clients’ goals of investment banking
transactions in 2015
Day after day, year after year, our Leading companies turn to us for (excluding IPOs) were on
clients count on us to guide them strategic advice as their businesses behalf of repeat clients
through evolving market conditions evolve through the continuum of
and help them reach their ultimate growth financing and M&A needs. 21 years
goals. Through a continuing dialogue Families rely on us to help them
that often spans decades and build an enduring legacy for future average industry experience
generations, we gain an intimate generations. Investors count on us of financial advisors at
understanding of each client’s vision to identify promising opportunities William Blair
and road map for growth. across all phases of the market cycle.
We deliver on these promises by 11
remaining steadfastly focused on our
clients’ long-term success. transactions completed for
Molex, including 1972 IPO and
2013 sale to Koch Industries

William Blair 13

Our Financial Stability
Owning Our Responsibilities

Our independence and the strength of our
financial condition are tremendous assets for
our clients. We have very little third-party
debt on our balance sheet; all of the equity
comes from the partners of the firm. This
stability and alignment allows us to remain
singularly focused on our clients’ needs
through all types of market conditions.

Our Financial Stability
Consolidated Statement of Financial Condition

Assets 32,371,965 December 31, 2015
20,963,750 $227,044,046
Cash and Cash Equivalents 2,811,541

Cash Segregated Under Federal Regulations and Restricted Cash 53,335,715

Collateralized Agreements 211,636,368
Securities Borrowed 13,528,121
Securities Purchased Under Agreements to Resell 57,524,586
18,052,256
Receivables 156,132,235 49,671,000
Customers 21,645,449 36,233,853
Brokers, Dealers, and Clearing Organizations 33,858,684 18,351,808
Other
$688,189,294
Deposits with Clearing Organizations and Others
Trading Securities Owned (at Fair Value) December 31, 2015
Firm-owned Investments $201,071,444
Secured Demand Notes (Collateral Market Value $87,815,271)
Fixed Assets at Cost (Net of Accumulated Depreciation and Amortization of $139,347,604) 64,155,219
Other Assets 46,735,960
Total Assets 133,649,273
445,611,896
Liabilities and Member’s Capital 31,381,696 49,671,000
Payable to the Member and Partners of the Member 8,285,602 192,906,398
Payables 24,487,921 $688,189,294

Customers
Brokers, Dealers, and Clearing Organizations
Other

Securities Sold, Not Yet Purchased (at Fair Value)
Accrued Expenses
Total Liabilities
Subordinated Borrowings
Member’s Capital
Total Liabilities and Member’s Capital

William Blair 15

Our Financial Stability
Partner List

President and CEO Brian M. Duddy Thomas E. Lanctot Alfred J. Salvino
John R. Ettelson* Robert A. Durkin Chris Lane John P. Salvino
Robert Duwa Louise Lane Thomas J. Salvino
Chairman Emeritus Stephen E. Elkins Mark R. Lane Beth Satterfield
Edgar D. Jannotta William G. Escamilla Robert C. Lanphier IV Ralph E. Schackart III
Elliot G. Farkas Mark T. Leslie Joe A. Schauenberg
Vice Chairman Brent W. Felitto Stewart Licudi Brian F. Scullion
E. David Coolidge III Simon Fennell Brandon W. Lower Michelle Seitz*
Walid M. Fikri Timothy F. Lugo Ward D. Sexton
Robert Abbe Adam S. Filkin David K. Mabie Anurag Sharma
Jason N. Ader Edward J. Finn James W. Mabie Arthur J. Simon*
Ryan D. Airola F. Conrad Fischer Eric S. Maddix Brian D. Singer
John Allen Frederick D. Fischer Steven E. Maletzky Michael M. Sirvinskas
Jon R. Andersen Robert C. Fix Annette M. Marker Michael Siska
Alaina M. Anderson Anthony P. Flanagan Peter Marr Jonathan P. Skinner
Benjamin C. Andrew Andrew G. Flynn Brian T. Marshall Richard W. Smirl
Anthony G. Baldwin David C. Fording Kelly J. Martin Brent M. Smith
Michael P. Balkin Christoph B. Fuchs G. Dewey Martinelli John R. Smith
Reto B. Baruffol Mark A. Fuller III Ralph A. Mastrangelo John S. Sonnier
James Bennett Heather A. Gardner Scott A. Mattson Rita J. Spitz
William W. Benton Brent W. Gledhill* Kenneth J. McAtamney Scott J. Stevens
James M. Bertram James S. Golan Todd M. McClone James Suprenant
Susan J. Blahak Joel K. Gomberg Richard J. McDonald Bhavanmit S. Suri
Edward McC. Blair Jr. Matthew B. Gooch Timothy McHugh Joseph L. Tabet
Douglas A. Blauw Richard D. Gottfred John V. McLaughlin Raymond J. Teborek
Marina S. Bozilenko Daniel R. Grant Carlette C. McMullan Dwight Michael Thompson
Mark G. Brady Raphael Grunschlag Michael Meitus Mark C. Thompson
Stephanie G. Braming Dave Hagen David C. Merjan Samuel J. Tinaglia Sr.
John L. Brennan Jim A. Hamman Corey A. Minturn William B. Trukenbrod
Karl W. Brewer Kyle G. Harris David S. Mitchell Jeffrey A. Urbina*
Ronald J. Bukovac Liam P. Healy Philipp C. Mohr Christopher T. Vincent
Harvey H. Bundy III Roger A. Hill John C. Moore* Spiro Voulgaris
Jeffrey Burtelow Paul M. Hindsley John C. Murphy Kenneth L. Wagner
Timothy W. Carroll Anthony T. Hoban Robert P. Napoli Charles A. Watson
Mike Cavanaugh Charles H. Hodges IV D.J. Neiman Geoffrey J. Wehling
Daniel P. Charles Christian D. Hodneland Terrence J. O’Bryan Brian D. Weinstein
Frank Chiou Michael A. Jancosek James P. O’Connor Michael F. Wertz
Thomas M. Clarke Ross Jannotta John F. O’Toole James White
Daniel J. Connolly Steven R. Jesanis Thomas W. Pace Kurt M. Wiese
James J. Connors Andrew M. Jessen Karl A. Palasz James H. Wildman
Daniel Crowe James Jones Brett L. Paschke Colin J. Williams
John W. Cultra John F. Jostrand R. Scott Patterson Daniel J. Wilson
Benjamin W. Curtis Michael T. Kalt David Port Thomas A. Wilson Jr.
Ryan S. Daniels James P. Karlis Casey K. Preyss Y. Katherine Xu
Daniel G. Daul William O. Kasten Laura Provenzale Sharon M. Zackfia
Ryan J. DeVore John T. Kibler Gregory J. Pusinelli Matthew M. Zimmer
Brandon B. Dobell Chad M. Kilmer Michael P. Quinn Jon W. Zindel*
Gareth A. Down Adam Klauber David P. Ricci
Brian J. Doyle John C. Kreger III Thomas Ross * Executive Committee Member
Brian P. Drab Douglas Kryscio Eric B. Rowley

16 William Blair

Our Financial Stability
Locations

united states Detroit international
2000 Town Center
Chicago — Headquarters Suite 1900 Frankfurt
222 West Adams Street Southfield, MI 48075 TaunusTurm
Chicago, IL 60606 +1 866 692 4299 Taunustor 1
+1 312 236 1600 60310 Frankfurt, Germany
+1 800 621 0687 Hartford +49 69 509 527 600
[email protected] Putnam Place
williamblair.com 100 Great Meadow Road London
Suite 606 The Broadgate Tower
Atlanta Wethersfield, CT 06109 20 Primrose Street, 17th Floor
3340 Peachtree Road NE +1 800 596 2028 London, EC2A 2EW
18th Floor +44 20 7868 4440
Atlanta, GA 30326 Los Angeles
+1 855 821 9144 10100 Santa Monica Boulevard São Paulo
Suite 300 Av. Brigadeiro Faria Lima 3729 / 511
Effective October 2016, Los Angeles, CA 90067 São Paulo, SP, Brazil 04538-905
the Atlanta office will +1 310 734 5800 +55 11 3443 6472
be relocating to:
3060 Peachtree Road New York Sydney
Suite 900 666 Fifth Avenue Level 26, 1 Bligh Street
Atlanta, GA 30305 14th Floor Sydney, NSW 2000
New York, NY 10103 +61 2 8226 8571
Austin +1 212 237 2700
River Place Zurich
6500 River Place Boulevard San Antonio Talstrasse 65
Building 7, Suite 250 Colonnade CH-8001 Zurich
Austin, TX 78730 9901 I.H. 10 West +41 44 287 9020
+1 512 813 7662 Suite 800
San Antonio, TX 78230
Boston +1 210 558 2849
125 High Street
Oliver Street Tower San Francisco
Suite 1901 343 Sansome Street
Boston, MA 02110 12th Floor
+1 617 235 7500 San Francisco, CA 94104
+1 415 986 5596
Cincinnati
300 East Business Way Wilmington
Suite 200 500 Delaware Avenue
Cincinnati, OH 45241 7th Floor
+1 513 247 6134 Wilmington, DE 19801
+1 302 573 5000
Columbus
20 South Third Street
Suite 200
Columbus, OH 43215
+1 614 324 3222

William Blair 17

Disclosure and Memberships

Investment Advisor Disclosure: For more information about how the
It is not known whether the listed Pensions & Investments “Best Places
clients approve or disapprove of to Work in Money Management”
William Blair & Company, L.L.C. or rankings mentioned on page 11
the advisory services provided. were compiled, please visit
www.pionline.com.
This is not in any sense a solicitation
or offer of the purchase or sale of For more information about how the
securities. The factual statements Chicago Tribune “Top Workplaces”
herein have been taken from sources rankings mentioned on page 11
we believe to be reliable, but such were compiled, please visit
statements are made without any www.topworkplaces.com.
representation as to accuracy or
completeness or otherwise. Opinions For more information about how the
expressed are our own unless Greenwich Associates survey of
otherwise stated. small- and mid-cap managers
mentioned on page 7 were compiled,
This material has been approved for please visit www.greenwich.com.
distribution in the United Kingdom by
William Blair International, Limited
regulated by the Financial Conduct
Authority. This material may not
be passed on to retail clients in the
United Kingdom.

Memberships:
Financial Industry Regulatory
Authority, Inc. (FINRA) and
Securities Investor Protection
Corporation (SIPC).

18 William Blair



As we look ahead, the words of our
founder, William McCormick Blair,
resonate more strongly than ever:
“When our clients succeed,
the firm’s success will follow.”
This means leaving no stone
unturned, no market unexplored,
and no question unanswered in the
pursuit of turning your vision into
reality. We understand what it took
for you to get here—which is why
we will always be at your side.



About William Blair William Blair is a global investment banking and asset management firm. We are
committed to building enduring relationships with our clients and providing
expertise and solutions to meet their evolving needs. An independent and
employee-owned firm, William Blair is based in Chicago, with offices in 18 cities
across four continents. For more information, please visit williamblair.com.