Vantage launches new fund
Private equity funds specialist, Vantage Asset Management has announced the launch of a new $100 million private equity fund of funds.
Announcing the launch this week, the company said the product had been initiated after Vantage almost tripled the return on invested capital from its previous fund over the past eight years.
It said the new product, the Vantage Private Equity Growth 2 (VPEG2) fund mirrors Vantage's previous fund, Vantage Private Equity Growth Limited (VPEG) in providing investors with access to private equity funds in the later expansion and the mid-market buyout space — where companies typically have an enterprise value between $50 million to $500 million at initial investment.
The investment committee of the fund comprises Rod McGeogh, chairman; Michael Tobin, managing director; Patrick Handley; Paul Scully and David Pullini.
VPEG2's features include a tax efficient structure and a focused investment strategy with targeted returns to investors of 20 per cent per annum across a six to eight year investment time frame.
VPEG2 Investors will receive regular distributions as the fund receives them from the underlying company investments, with the bulk of the returns delivered as the underlying companies are sold after being held within the portfolio on average for between two to four years.
VPEG2 has commenced building its private equity investment portfolio and has to date committed $11.5 million across two private equity funds managed by top performing mid-market specialists, Next Capital and Allegro Funds.
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