Private Equity Portfolio

VPEG2 made its first Private Equity investment commitment to Next Capital Fund III during September 2014. Initial funds were drawn from VPEG2 to Next III for two new private equity company investments during December 2014.

VPEG2 made its second Private Equity investment commitment to Allegro II during December 2014. Initial funds were drawn from VPEG2 for Allegro II’s existing investments, during June 2015.

VPEG2 made its third Private Equity investment commitment to Mercury Capital Fund 2 during May 2015. Initial funds were drawn from VPEG2 to Mercury II during May 2015.

VPEG2 made its fourth Private Equity investment commitment to CHAMP IV during January 2016. Initial funds were drawn from VPEG2 to CHAMP IV during February 2016.

VPEG2 made its fifth Private Equity investment commitment to Waterman Fund 3 in March 2016. Initial funds were drawn from VPEG2 to Waterman Fund 3 during April 2016.

VPEG2 made its sixth Private Equity investment commitment to the Pencarrow Bridge Fund in November 2016. Initial funds were drawn from VPEG2 to Pencarrow Bridge Fund to fund its first investment on 30 November 2016.

VPEG2 made its seventh Private Equity investment commitment to the Adamantem Capital Fund 1 in January 2017. Initial funds were drawn from VPEG2 to Adamantem Capital Fund 1 in April 2017.

VPEG2 made its eighth and final Private Equity investment commitment to the Odyssey Private Equity Fund 8 in March 2017. Initial funds were drawn from VPEG2 to Odyssey Private Equity Fund 8 in May 2017

In August 2017, VPEG2 completed a $0.5m co-investment into Fitzpatrick Financial Group.

Details of VPEG2’s current Private Equity commitments and investments are provided in the table below:

PRIVATE EQUITY FUND NAMEFUND / DEAL SIZE ($M)VINTAGEINVESTMENT STRATEGYCOMMITMENT ($M)CAPITAL DRAWN ($M)PORTFOLIO COMPANIESEXITS
NEXT CAPITAL FUND III$2652014EXPANSION / BUYOUT$8.00$6.8987
ALLEGRO FUND II$1802014EXPANSION / BUYOUT$6.00$5.8996
MERCURY CAPITAL FUND 2$3002015EXPANSION / BUYOUT$5.00$4.5575
CPE CAPITAL 8$7352016BUYOUT$8.00$7.05108
WATERMAN FUND 3NZ$2002016EXPANSION / BUYOUT$4.00$3.0344
PENCARROW BRIDGE FUNDNZ$802016EXPANSION / BUYOUT$2.00$1.7142
ADAMANTEM CAPITAL FUND I$5912017EXPANSION / BUYOUT$10.00$8.4661
ODYSSEY PRIVATE EQUITY FUND 8$2752017GROWTH CAPITAL$8.00$7.0761
CO-INVEST 1 (FITZPATRICKS FINANCIAL GROUP)$2002017EXPANSION$0.50$0.5910
TOTAL$51.50$45.255534

* target fund size

** Assumes AUD/NZD exchange rate of 1.1

VPEG 2