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Private Equity Portfolio
THE PARTLY PAID NATURE OF PRIVATE EQUITY FUNDS COMMITTED TO, MEANS THAT IT TYPICALLY TAKES A NUMBER OF YEARS BEFORE THESE COMMITMENTS ARE INVESTED. THE ALLOCATION TO PRIVATE EQUITY REDUCES WITH THE SALE OF BUSINESSES BY THESE PRIVATE EQUITY FUNDS. THIS IS MANAGED BY THE COMPANY THROUGH ITS OVER-COMMITMENT TO PRIVATE EQUITY FUNDS.
|
Fund |
Investment Focus |
Fund Size $m |
Committed Capital $m |
Drawn Capital $m |
Undrawn Capital $m |
Current Companies |
Sold Companies |
|
2004 Vintage |
|
|
|
|
|
|
|
|
Archer Capital No. 3 |
MBO |
428.5 |
7.1 |
6.5 |
0.6 |
3 |
4 |
|
Hastings Private Equity II |
Expansion & MBO |
180.5 |
8.0 |
7.7 |
0.3 |
5 |
4 |
|
Ironbridge Capital 2003/4 |
MBO |
450.0 |
5.0 |
4.7 |
0.3 |
5 |
3 |
|
2005 Vintage |
|
|
|
|
|
|
|
|
Direct Capital Partners III (A$ equivalent) |
Expansion & MBO |
50.6 |
6.3 |
6.1 |
0.9 |
8 |
4 |
|
NBC Private Equity II |
Expansion & MBO |
98.6 |
6.0 |
5.9 |
0.1 |
7 |
0 |
|
Propel Private Equity II |
Expansion & MBO |
70.8 |
3.4 |
3.3 |
0.1 |
2 |
1 |
|
Quadrant Private Equity No.1 |
Expansion & MBO |
265.0 |
8.0 |
7.5 |
0.5 |
5 |
2 |
|
Wolseley Partners I |
Expansion & MBO |
107.4 |
8.0 |
7.8 |
0.2 |
5 |
0 |
|
2006 Vintage |
|
|
|
|
|
|
|
|
Archer Capital No.4 |
MBO |
1,360.0 |
10.0 |
3.4 |
6.6 |
5 |
0 |
|
Catalyst Buyout No.1 |
MBO |
390.0 |
8.0 |
7.9 |
0.1 |
6 |
1 |
|
CM Capital Venture Trust No.4 |
Early Stage |
153.5 |
8.0 |
4.9 |
3.1 |
11 |
1 |
|
Pacific Equity Partners III |
MBO |
1,275.0 |
8.0 |
6.9 |
1.1 |
8 |
0 |
|
2007 Vintage |
|
|
|
|
|
|
|
|
Pacific Equity Partners IV |
MBO |
4,060.0 |
10.0 |
3.0 |
7.0 |
4 |
0 |
|
Quadrant Private Equity No.2 |
Expansion & MBO |
500.0 |
10.0 |
7.4 |
2.6 |
4 |
0 |
|
2008 Vintage |
|
|
|
|
|
|
|
|
Wolseley Partners II |
Expansion & MBO |
235.0 |
10.0 |
1.9 |
8.1 |
2 |
0 |
|
NBC Private Equity III |
Expansion & MBO |
101.2 |
10.0 |
4.1 |
5.9 |
4 |
0 |
|
TOTAL |
|
|
125.8 |
89 |
37.5 |
84 |
20 |
The Portfolio position is as at 31 March 2010
MBO = Management Buyout
Sold companies refers to exits due to a trade sale, listing, administration, write-off or other form of disposal. Numbers may be subject to rounding variation
Co-Investments (Direct company investments alongside private equity managers)
|
Company |
Type of Business |
% of IPE assets |
|
CathRX Pty Ltd |
Australian company that develops cardiac catheters |
0.4 |
|
Dilithium Networks |
US company that develops interconnectivity software for voice, video and data |
0.4 |
|
Vitaco (previously Health Brands) |
New Zealand supplier of nutritional supplements and alternative medicine |
1.0 |