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 SizeVintage YearInvestment FocusVPEG2 Commitment
Capital Drawn DownTotal No. of Investee CompaniesNo. of Exits
Next Capital Fund III$265m2014Lower to Mid Market Expansion / Buyout$6.0m$2.0m$5.17m$1.72m87
Allegro Fund II$180m2014Lower to Mid Market Expansion / Buyout$4.0m$2.0m$3.92m$1.96m96
Mercury Capital Fund 2$300m2015Lower to Mid Market Expansion / Buyout$3.8m$1.2m$3.46m$1.09m75
CPE Capital 8$735m2016Mid Market Buyout$6.0m$2.0m$5.29m$1.76m108
Waterman Fund 3NZ$200m2016Lower to Mid Market Expansion / BuyoutNZ$3.0mNZ$1.0m$2.30m$0.73m44
Pencarrow Bridge FundNZ$80m2016Lower to Mid Market Expansion / BuyoutNZ$1.5mNZ$0.5m$1.29m$0.42m41
Adamantem Capital Fund 1$591m2017Mid Market Expansion / Buyout$7.6m$2.4m$6.43m$2.03m61
Odyssey Private Equity Fund 8$275m2017Mid Market Growth Capital$6.0m$2.0m$5.28m$1.76m61
Co-Invest 1 (Fitzpatrick Financial Group)$200m2017Mid Market Expansion$0.4m$0.1m$0.45m$0.14m10

* target fund size

** Assumes AUD/NZD exchange rate of 1.1