ACCESS TO CAPITAL

HEALTH PROSPERITY = Ft (HC+SC+RA)

JOB CREATION

WE ARE A NONPROFIT, NONPARTISAN THINk TANk dETERmINEd TO INCREASE gLOBAL PROSPERITY BY AdvANCINg COLLABORATIvE SOLuTIONS THAT WIdEN ACCESS TO CAPITAL, CREATE JOBS ANd ImPROvE HEALTH. WE dO THIS THROugH INdEPENdENT, dATA-dRIvEN RESEARCH, ACTION-ORIENTEd mEETINgS ANd mEANINgFuL POLICY INITIATIvES.

Our work is guided by the formula developed by our founder and chairman, Michael Milken: Prosperity equals the effect of financial technology acting to multiply the value of human capital, social capital and real assets.

PROSPERITY = Ft (HC+SC+RA)

AdvANCINg COLLABORATIvE SOLuTIONS THAT WILL dRIvE PROgRESSWe explore the convergence of finance, business, health, philanthropy and policy to advance collaborative solutions that drive progress. Through our eight centers, we guide policy toward sound, practical solutions.

80disease research foundations comprise The Research Acceleration and Innovation Network (TRAIN). More than three-quarters of these groups partner with biotechnology and pharmaceutical companies

designed to advance collaborative solutions that widen access to capital, create jobs and improve health

gLOBAL EFFORTS

assets managed by our Global Capital Markets Advisory Council$18 TRILLION

For the past 18 years, the Institute’s Best-Performing Cities index has provided a blueprint for improving local economies

38 fellows with in-depth expertise provide strategic insights that shape the work of our centersCLOCKWISE: Mimi Walters, U.S. Representative, California; Jack Andraka, Student

Researcher; David Baltimore, Nobel Laureate and Robert Andrews Millikan Professor of Biology, California Institute of Technology; Margaret Anderson, Executive Director, FasterCures; Edwin Lee, Mayor of San Francisco; Orrin Hatch, U.S. Senator, Utah; Michael Klowden, President and Chief Executive Officer, Milken Institute; Al Gore, Nobel Laureate and Former Vice President of the United States; Mellody Hobson, President, Ariel Investments

CREATINg JOBS THROugH dATA- dRIvEN RESEARCH ANd ANALYSIS

The Institute does not just identify problems, they break down perceptions and silos and get to real opportunities for solutions. If you’re going to invest in today’s world, you have to be exposed to and aware of insights into issues you just can’t get up close to every day.

Thomas FinkeChairman and CEO, Babson Capital Management

Aided California’s battle with ‘runaway’ film production

The Milken Institute’s report “A Hollywood Exit” highlighted steps California can take to stem the loss of entertainment jobs to states that offer more generous tax incentives for film and television production. The report helped persuade the Legislature to triple California’s tax credit, an increase that could lead to thousands of new and retained jobs and over $1 billion in new projects and investment.

Pinpointed how and where jobs are created and sustained

National and local policymakers rely on the Milken Institute’s expertise in regional economics and job creation. Each year, we develop the Best-Performing Cities index, which gauges job and wage growth and technology concentration to rank 200 large metropolitan areas and currently 179 smaller metros.

ABOVE: Jerry Brown, Governor of California

mAgNIFYINg PHILANTHROPIC ImPACT THROugH SmARTER gIvINg

The Milken Institute acted in days or weeks, not years, in bringing its expertise to bear to help us start an organization focused on melanoma research so patients can have better treatment options. They instilled best practices and best processes so we didn’t have to reinvent the wheel. We did not–and do not–have time to waste.

Debra BlackCo-Founder and Chair, Melanoma Research Alliance

Transformed outcomes for melanoma patients by incubating the largest private funder of melanoma research

Our Philanthropy Advisory Service helped launch the nonprofit Melanoma Research Alliance (MRA). PAS provided critical support, convening the first “state of research” meeting, designing MRA’s organizational structure and cultivating best practices that are helping MRA fast-track research. Since its inception, MRA has contributed $67 million to 178 projects.

Fostered investments in cancer immunotherapy research that advanced glioblastoma multiforme (GBM) treatments

Our Philanthropy Advisory Service (PAS) assembled a panel of neuro-oncology experts to advise a philanthropist seeking to invest in research on GBM, an especially aggressive form of brain tumor. After the meetings, the donor invested in a portfolio of immunotherapy projects that led to a clinical trial, a research partnership with a major pharmaceutical company and the identification of a novel mutation in GBM that may become a target for therapies.

ABOVE: Suzanne Topalian, Professor of Surgery and Oncology, Johns Hopkins University, Director, Melanoma Program, Sidney Kimmel Comprehensive Cancer Center

AddRESSINg gLOBAL CHALLENgES THROugH INNOvATIvE FINANCIAL mECHANISmS

Global and African leaders are determined to partner to solve Africa’s socioeconomic challenges. Progress, however, continues to be impeded by the limited access to capital. Financial Innovations Labs have made a profound impact in addressing market failures and capital gaps by identifying models that can be scaled and sustained.

Jay IrelandPresident and CEO, GE Africa

Enlisted private investors in the fight against undernutrition

The “Catalytic Finance for Nutrition” Lab yielded the design for a pooled-donor fund to support the fight against undernutrition in emerging and frontier markets. Announced at G8 meetings, the fund won backing from the UK Department for International Development, the Children’s Investment Fund Foundation and the UBS Optimus Foundation.

Designed a $222-million fund to expand Israel’s biotech industry

Our Lab titled “Accelerating Medical Solutions in Israel: Building a Global Life Science Industry” triggered the creation of the $222 million Israeli Life Sciences Fund. In this public-private partnership, the government takes a first-loss position to manage risk and attract private investment. The fund reinvigorated Israel’s biotechnology industry, a sector boasting a skilled workforce, large patient base and growing number of R&D companies.

ABOVE: Ora Dar, Head, Life Sciences Sector, Office of the Chief Scientist, Israeli Ministry of Industry, Trade and Labor

ACCELERATINg THE TRANSLATION OF dISCOvERIES INTO LIFE-SAvINg THERAPIES

If there was ever a time when we all need to get together in the same room and figure out how to take this wonderful scientific opportunity and apply the most bold, audacious principles of innovation, this is it.

Francis CollinsDirector, National Institutes of Health

Ensured that innovation in one disease can be applied to another

Big, transformative ideas in medical research are emerging from outcomes-driven disease research foundations. FasterCures created The Research Acceleration and Innovation Network (TRAIN) to connect scores of these foundations, enabling them to learn from one another and share novel approaches that potentially can be applied to a variety of diseases.

Championed efforts to turn scientific breakthroughs into cures

President Obama signed a law creating the National Center for Advancing Translational Sciences (NCATS), an arm of the National Institutes of Health that translates advances in scientific knowledge into new medical treatments. FasterCures provided analysis that identified best practices, scalable models and policy solutions focused on translational research.

TOP (FROM L-R): Christopher Austin, Director, National Center for Advancing Translational Sciences, National Institutes of Health; Louis DeGennaro, President and Chief Executive Officer, Leukemia & Lymphoma Society ABOVE: Michael J. Fox, Founder, The Michael J. Fox Foundation for Parkinson’s Research

ECONOmICRESEARCH

LABS

INTERACTIvESITES

Online platforms showcase definitive data and performance metrics to pinpoint where jobs are being created and identify communities that provide opportunity to aging populations.

financial innovations labs address society’s greatest challenges through the lens of finance

>50

POLICYANALYSIS

mayors have signed our pledge to change the landscape of aging in their cities

140+

Lab reports capture the highlights from intensive daylong workshops that were designed to devise new business models, capital structures and financial technologies that will solve challenges in virtually any field.

Caitlin MacLean Director, Innovative Finance, Milken Institute

We conduct rigorous research and apply it to real-world policy problems in areas such as improving access to capital, job creation, enhancing health and building human capital.

Ross DeVol Chief Research Officer, Milken Institute

We believe that the future of aging will be different, and we’re challenging conventional wisdom, knowing that healthy, productive and purposeful aging holds great promise for growing economies, strengthening societies, and improving lives for people of all ages.

Paul IrvingChairman, Center for the Future of Aging, Milken Institute

RESEARCH A 25 percent permanent increase in the R&D tax credit enhances American innovation. With this increase, real GDP would rise 1.2 percent, or by $206.3 billion, by 2019, and 316,000 manufacturing jobs would be created.

TACkLINg THE ISSuES THAT mATTER IN A COmPLEx ANd INTERCONNECTEd gLOBAL ECONOmYMilken Institute research is data-driven and nonpartisan. We publish reports and analysis that inform policy and develop interactive sites that make data come to life.

We promote financial market understanding and identify practical policy solutions to strengthen and deepen capital markets and encourage productive investment.

Staci Warden Executive Director, Center for Financial Markets, Milken Institute

[The Global Conference] is a forum where people who have all different kinds of perspectives come together and talk about these things in a space where people feel actually safe.

Bill Clinton Former President of the United States

POWERFuL IdEAS COmE TO LIFE WHEN NONTRAdITIONAL ALLIES JOIN FORCES TO FINd COmmON SOLuTIONS

Global Conference

We go across the aisle and around the world to convene leaders from diverse sectors and industries, often transforming their vision and their idea of what should be done.

ABOVE: Sheryl Sandberg, Chief Operating Officer, Facebook and Founder, LeanIn.Org; Henry Paulson, Chairman, the Paulson Institute and Former U.S. Treasury Secretary

Institute events allow me to think not only about the challenges of today, but how to meet the challenges of an increasingly complex society. It’s an ever-evolving learning experience, a laboratory where you get different insights from diverse constituents that help you refine your own thinking.

Raymond McGuireGlobal Head, Corporate and Investment Banking, Citi

BRINgINg TOgETHER LEAdERS ACROSS SECTORS ANd INduSTRIES FOR HIgHLY FOCuSEd INTERACTIONS

Asia Summit

High-profile executives, government officials, influential investors, heads of sovereign wealth funds and philanthropists addressing pressing global and regional challenges.

Partnering for Cures

Medical research’s most forward-thinking, outcomes-oriented and patient-focused event.

London Summit

Highlights what’s ahead for Europe and the global economy, illuminating the forces shaping the times we live in — and the future.

California Summit

State leaders in business, government, academia and philanthropy focus on creating a roadmap for growth and investment to ensure the state remains a destination for business and innovation.

TOP (FROM L-R): Geoffrey Ling, Founding Director, Biological Technologies Office (BTO), DARPA; Shari Ling, Deputy Chief Medical Officer, Center for Clinical Standards and Quality, Centers for Medicare and Medicaid Services (CMS); Thomas Finke, Chairman and CEO, Babson Capital Management; Martin Soong, Anchor, CNBC; Sameer Jain, Chief Economist and Managing Director, American Realty Capital; Jonathan Sokoloff, Managing Partner, Leonard Green & Partners; Gillian Tett, U.S. Managing Editor and Columnist, Financial Times; Tidjane Thiam, Group CEO, Prudential Plc; Carol Armstrong, Director, L.A. River Project Office, Bureau of Engineering, City of Los Angeles; William Bailey, Mayor of Riverside, California; Kevin Klowden, Director, California Center and Managing Economist, Milken Institute; Dale Bonner, Senior Advisor, Milken Institute and Executive Chairman, Plenary Group USA; Jim Wunderman, President and CEO, Bay Area Council

252 EvENTSfrom April 2014-April 2015

27,225people from 84 countries attended our events

JOBS &HumAN CAPITAL

>400 mILLION

7300+

525 PANELS

a growing virtual footprint amplifies our message with >400 million people engaging through social media channels year-round

public and private organizations across sectors and industries were represented

gOvERNmENT

on 11 tracks

PHILANTHROPYFINANCE HEALTHAgINg

BOTTOM LEFT HALF (CLOCKWISE): John Chen, Executive Chairman and CEO, BlackBerry; Rajiv Kaul, Portfolio Manager, Select Biotechnology Portfolio and Advisor, Biotechnology Fund, Fidelity Investments; Robert Hugin, Chairman and CEO, Celgene; Dustin Lance Black, Filmmaker and Human Rights Activist; Katie O’Reilly, Executive Director, Business and Program Development, Milken Institute; Katherine Priestley, Managing Partner, Park Vale Capital; Sean Schantzen, Chief Operating Officer and Co-Founder, Healthfundr; Melissa Stevens, Executive Director, Center for Strategic Philanthropy, Milken Institute; Marc Rowan, Co-Founder and Senior Managing Director, Apollo Global Management, LLC; Steven Tananbaum, Managing Partner and Chief Investment Officer, GoldenTree Asset Management, LP; David Warren, CEO, Chief Investment Officer and Founding Partner, DW Partners, LP

TOP RIGHT HALF (CLOCKWISE): Sanford Bishop, U.S. Representative, Georgia; Thomas Frieden, Director, U.S. Centers for Disease Control and Prevention; Lynn Goldman, Michael and Lori Milken Dean of Public Health, Milken Institute School of Public Health, the George Washington University; Ade Williams, Violinist, From the Top

BOTTOM RIGHT HALF (CLOCKWISE):

Kafui Dziraza, Assistant Professor, Department of Psychiatry and Behavioral Science, Duke University School of Medicine; Muhammad Yunus, Nobel Laureate and Managing Director, Grameen Bank; Yanqing Yang, Deputy Editor-in-Chief, China Business News (CBN); Molly Ashby, Founder and CEO, Solera; Nancy Dubuc, President and CEO, A+E Networks

TOP LEFT HALF (CLOCKWISE): Sangeeta Bhatia, Director, Laboratory for Multiscale Regenerative Technologies; John J. and Dorothy Wilson Professor, MIT; B. Bonin Bough, Vice President, Global Media and Consumer Engagement, Mondelez International; Richard Ditizio, Executive Vice President and Chief Operating Officer, Milken Institute; Diane von Furstenberg, Founder and Co-Chairman of DVF; David Palmer, President and CEO, Diamond Resorts International; Todd Boehly, President, Guggenheim Partners; Freda Lewis-Hall, Executive Vice President and Chief Medical Officer, Pfizer, Inc.

TECHNOLOgY

EduCATION

ENERgY

INduSTRY

dEvELOPINgmARkETS

These events are dynamic and free flowing – it allows for debate and discussion about sensitive issues. They bring a wide range of people who have an interest in how a society evolves.

Helena Morrissey CEO, Newton, and Founder, 30% Club

The challenges ahead of us are huge, but the opportunities are utterly mind-boggling. They are answering this call to action. They remind us that innovation is not dead and that the future is ours to create.

Anna Barker Fellow, FasterCures, Professor and Director, Transformative Healthcare Networks, and Co-Director, Complex Adaptive Systems Network, Arizona State University

So often it seems that people putting out research are trying to pursue a particular agenda....What I appreciate about the Milken Institute is that their research is willing to present both sides.

Christopher Ailman Chief Investment Officer, California State Teachers Retirement System

TuRNINg POWERFuL IdEAS INTO TRANSFORmATIvE ACTION

The Institute gives you a framework for thinking about some of the drivers of the global economy. People don’t engage to postulate ideas that might be interesting academically. We’re looking at stuff that could matter tomorrow.

Alex Friedman Group CEO, GAM

For all the technology, man is contextual. What gets people moving is getting to know each other. The more we create platforms to get to sit together and discuss substance, without walls and ceremonies, the more we achieve.

Strive Masiyiwa Founder and Chairman, Econet Wireless

It’s an opportunity to listen to interesting people that are not of your field of expertise. You can listen to very different voices. There is a kind of cross-fertilization because of the dialogue.

Ana Palacio Member, Council of State and Former Minister of Foreign Affairs, Spain

ENgAgE

gLOBAL CONFERENCEExploring solutions to pressing challenges in financial markets, industry sectors, health, government and education

BRIEFINgS & ROuNdTABLESBriefing series on Capitol Hill, invitation-only roundtables and quarterly policy dinners aimed at engaging members of Congress and their staff

LONdON SummITConvening the world’s most prominent opinion makers, executives, investors and philanthropists, focused on Europe’s most important issues

FINANCIAL INNOvATIONS LABSMiniature think tanks in action encouraging collaboration among a diverse group of decision-makers looking to scale new models, advance outcomes or market test ideas

ASIA SummITAddressing the most pressing global and regional issues, including geopolitical risks, financial regulation, social inequality, medical research and the role of philanthropy in Asia

mILkEN INSTITuTE SCHOLARSHonoring extraordinarily talented youth and providing life-long support and access to a wide array of resources during their academic and professional careers

PARTNERINg FOR CuRESConvening leaders with the experience, creativity and motivation needed to transform the medical research system

CHAIRmAN’S CIRCLEAffinity network of key philanthropists designed to spur real-time sharing of experiences and insights

CALIFORNIA SummITBringing together key members of the state’s business and policy leadership to forge partnerships and devise solutions to address the state’s biggest challenges

mILkEN INSTITuTE ASSOCIATESA network of our top supporters from the corporate, governmental, economic and philanthropic worlds, whose generosity enables us to do our work

SummIT ON PuBLIC HEALTHShaping solutions to complex public health challenges and reaffirming the national commitment to public health

YOuNg LEAdERS CIRCLEIntellectually curious, philanthropic professionals between the ages of 25 and 40 supporting the Milken Institute and its mission

PARTICIPATE

ASIA CENTERAnalyzes the demographic trends, trade relationships and capital flows that will define the region’s future.

CALIFORNIA CENTERAdvances innovative solutions to challenges facing the state with the potential for national and global impact.

FASTERCuRES Clears roadblocks that prevent medical breakthroughs from reaching patients sooner.

CENTER FOR FINANCIAL mARkETSIdentifies ways to broaden access to capital and strengthen financial markets globally.

CENTER FOR THE FuTuRE OF AgINg Promotes healthy, productive and purposeful aging.

CENTER FOR JOBS ANd HumAN CAPITALAnalyzes the dynamics that drive job creation and workforce development.

CENTER FOR PuBLIC HEALTHDraws on applied research, economics, policy and communications to overcome public health challenges.

CENTER FOR STRATEgIC PHILANTHROPYImproves the return on philanthropic investment by facilitating smarter giving decisions.

mILkENINSTITuTE.ORg

FRONT COVER TOP (FROM L-R): Tony Blair, Former Prime Minister, Great Britain and Northern Ireland; Bill Gates, Co-Chair and Trustee, Bill & Melinda Gates Foundation; Michael Milken, Chairman, Milken Institute; H.E. Paul Kagame, President, Republic of Rwanda; Barbara Bush, CEO and Co-Founder, Global Health Corps; Henry Paulson, Chairman, the Paulson Institute and Former U.S. Treasury Secretary; Robert Rubin, Co-Chairman, Council on Foreign Relations and Former U.S. Treasury Secretary; Bill Clinton, Former President of the United States; Scott Minerd, Chairman of Investments and Global Chief Investment Officer, Guggenheim Partners; Tatsuo Yamasaki, Vice President of Finance for International Affairs, Ministry of Finance, Japan; Kathy Matsui, Vice Chair, Goldman Sachs Japan Co., Ltd.; Kotaro Tamura, Asia Fellow, Milken Institute and Chairman, Japan Intelligence Initiative; Jay Ireland, President and CEO, GE Africa; Strive Masiyiwa, Founder and Chairman, Econet Wireless; Bob Collymore, CEO, Safaricom Ltd.; Timothy Geithner, President, Warburg Pincus and Former U.S. Treasury Secretary; Sheryl Sandberg, Chief Operating Officer, Facebook and Founder, LeanIn.Org. BACK COVER TOP (FROM L-R): Anthony Fauci, Director, National Institute of Allergy and Infectious Diseases, National Institutes of Health; Earvin Johnson, Chairman and CEO, Magic Johnson Enterprises and NBA Hall of Famer and Co-Owner, Los Angeles Dodgers; Stephen Schwarzman, Chairman, CEO and Co-Founder, Blackstone; Sheryl WuDunn, Co-Founder, FullSky Capital and Co-Author, “China Wakes” and “A Path Appears”; Joshua Friedman, Co-Founder, Co-Chairman and Co-CEO, Canyon Partners, LLC; Gillian Tett, U.S. Managing Editor and Columnist, Financial Times; Joshua Harris, Co-Founder and Member, Board of Directors, Apollo Global Management; Kimbal Musk, Co-Founder, The Kitchen and Board Member, Tesla Motors; Jeff Skoll, Founder and Chairman, Participant Media and Founder and Chairman, Skoll Foundation; Elon Musk, CEO and CTO, SpaceX and CEO and Product Architect, Tesla Motors; Eric Cantor, Vice Chairman and Managing Director, Moelis & Co. and Former Majority Leader, U.S. House of Representatives; Matt Damon, Actor and Co-Founder, Water.Org; Mehmood Khan, Executive Vice President and Chief Scientific Officer, Global Research and Development, PepsiCo; Mohamed El-Erian, CEO and Co-Chief Investment Officer, Pacific Investment Management Co. (PIMCO); Kenneth Griffin, Founder and CEO, Citadel; Bob Casey, U.S. Senator, Pennsylvania; Cathy McMorris Rodgers, U.S. Representative, Washington; Major Garrett, Chief White House Correspondent, CBS News; Jerry Moran, U.S. Senator, Kansas; Mark Warner, U.S. Senator, Virginia

MilkenInstitute.org

Santa Monica Washington, DC Singapore London