Their 2016 fund (latest mature flagship / LMM fund) is at 9% net IRR / 4th quartile. 2019 small cap is underwater. 2015 small cap is 10% net IRR / 4th quartile. Just stating the facts
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Good returns, nice culture overall and very good deal flow (size enables them to bully advisors for the next deal)
What do you mean by bully advisors for the next deal? Understand they invest is company's with EV EUR 300M
They are a large fund by UK standards across a number of sectors and so see a lot of deals, and will have a lot of sell-sides
Their 2016 fund (latest mature flagship / LMM fund) is at 9% net IRR / 4th quartile. 2019 small cap is underwater. 2015 small cap is 10% net IRR / 4th quartile. Just stating the facts
Thanks for those. I'd only seen Livingbridge V via Preqin which is ~2.7x MoM / ~27% IRR
Sure. That's a 2012 fund. Anything post 2012 is 3rd or 4th quartile and not above 10% IRR or even losing money (i.e. virtually no carry post hurdle)
Helpful to know. Curious as to what the 'stinkers' in the portfolio may be or if they've just overpaid in recent years (which is possible).
pay is a joke, 80+80
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