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 Name
Fund / Deal Size
Vintage Year
Investment Focus
VPEG2 Commitment
Capital Drawn Down
Total No. of Investee Companies
No. of Exits
VPEG2AVPEG2BVPEG2AVPEG2B
Next Capital Fund III$265m2014Lower to Mid Market Expansion / Buyout$6.0m$2.0m$4.49m$1.49m72
Allegro Fund II$180m2014Lower to Mid Market Expansion / Buyout$4.0m$2.0m$3.47m$1.74m81
Mercury Capital Fund 2$300m2015Lower to Mid Market Expansion / Buyout$3.8m$1.2m$3.23m$1.02m60
CHAMP IV$735m2016Mid Market Buyout$6.0m$2.0m$4.57m$1.52m80
Waterman Fund 3NZ$200m2016Lower to Mid Market Expansion / BuyoutNZ$3.0mNZ$1.0m$2.08m$0.66m40
Pencarrow Bridge FundNZ$80m2016Lower to Mid Market Expansion / BuyoutNZ$1.5mNZ$0.5m$1.16m$0.38m40
Adamantem Capital Fund 1$600m*2017Mid Market Expansion / Buyout$7.6m$2.4m$4.30m$1.36m50
Odyssey Private Equity Fund 8$275m2017Mid Market Growth Capital$6.0m$2.0m$3.21m$1.07m40
Co-Invest 1 (Fitzpatrick Financial Group)$200m2017Mid Market Expansion$0.4m$0.1m$0.40m$0.13m10
TOTALS**$38.0m$13.1m$26.91m$9.37m473

* target fund size

** Assumes AUD/NZD exchange rate of 1.1

VPEG 2