{
  "docId": "019de06f-a515-7234-8755-d4ff08b2a96a",
  "docSlug": "985e9e1781556c9ffdf94b3dbbcfdd3a",
  "documentTitle": "Goldman Sachs | Investment Banking Pitch Book | 46 slides",
  "authorId": "goldman-sachs",
  "authorName": "Goldman Sachs",
  "documentKindSlug": "deck",
  "documentKindLabel": "Deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2018-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.294673,
  "pageNumber": 39,
  "pageCount": 46,
  "prevPage": 38,
  "nextPage": 40,
  "slideType": "appendix_data",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 100,
  "notes": "Includes sensitivity analysis tables for GP Cost of Equity vs Perpetuity Growth Rate.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de06f-a515-7234-8755-d4ff08b2a96a/39",
  "deckHref": "/decks/019de06f-a515-7234-8755-d4ff08b2a96a",
  "deckJsonHref": "/decks/019de06f-a515-7234-8755-d4ff08b2a96a.json",
  "deckAnchorHref": "/decks/019de06f-a515-7234-8755-d4ff08b2a96a#slide-39",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.15,
        "x": 0.04,
        "y": 0.21
      },
      "kind": "list",
      "text": "Assumptions: Implied value as of 6/30/2018, Discounted using mid-year convention, Perpetuity growth rate of 2.0%, Ke of 9.0%",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d6eac232-5671-4034-aa24-094bfd6c9f02",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.5,
        "x": 0.13,
        "y": 0.16
      },
      "kind": "paragraph",
      "text": "Status Quo – GP Standalone | ($ in millions, except per share data)",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "634d2574-b797-47cf-ba53-ca8617fae776",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.35,
        "x": 0.04,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "Source: Arkose Projections and Bloomberg market data as of 04-Jun-2018",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ce349dcf-419a-4455-a6d9-df4d089bab93",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.92,
        "x": 0.04,
        "y": 0.57
      },
      "kind": "table",
      "text": "Sensitivity analysis tables for Implied GP Value ($ / Share), Implied GP Value ($mm), and Implied Terminal Yield based on Perpetuity Growth Rate and GP Cost of Equity",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0f1bf71d-3272-4915-85ef-f9dd8288e06a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.77,
        "x": 0.19,
        "y": 0.21
      },
      "kind": "table",
      "text": "Illustrative Discounted Cash Flow table showing Dividends Per Share, YoY Growth, Terminal Value, Equity Discount Rate, Discounted Cash Flows, Implied Terminal NTM Yield, Implied Value of GP ($ / Share), Implied Value of GP ($mm)",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f4e89c4a-b753-4dd9-9dac-6e0c21eb0ed0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.5,
        "x": 0.13,
        "y": 0.07
      },
      "kind": "title",
      "text": "Illustrative Arkose GP Discounted Dividends Analysis",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5f45a0c9-4c0a-4088-ba4b-348e2344025f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Valuation: DCF",
      "slug": "dcf",
      "agent": "architect",
      "layer": "slide",
      "matchId": "d7a347ab-1119-469b-9a2f-34183e65aa08",
      "evidence": "Illustrative Discounted Cash Flow table showing Dividends Per Share, YoY Growth, Terminal Value, Equity Discount Rate, Discounted Cash Flows",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "Discounted Cash Flow",
      "slug": null,
      "matchId": "34e9e864-8fa5-4d7b-8346-01d0987125d3",
      "evidence": "Table structure and assumptions listed",
      "confidence": 1
    }
  ],
  "arcBeats": [
    {
      "to": 46,
      "from": 38,
      "beatId": "38d38818-75bd-4bb8-8516-e9a4dbbc3ac1",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Appendices",
      "beatSlug": "sequoia-pitch-team",
      "evidence": "The document includes various appendices, such as cost of capital, valuation materials, and tax analysis, which can be considered as providing additional information about the team and their expertise.",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}