Mega / PE Fund Performance
Anybody know of a resource that that tracks performance of specific firms / funds so you can actually compare across over the same time periods? Or is this more known just by word of mouth / word on the street?
Thanks in advance.
One way to do this is to look into the filings of large public LPs (i.e., Calpers, etc.). They usually publish some performance data on the funds they are invested in.
Yep, Calpers is the easiest freely available. Cambridge Associates and Preqin also produce reports, but you need to be an 'insider' or willing to pay I think.
If there is any particular group you want to see I might be able to help.
I think Samoanboy has answered the question. Either you use a paid data provider like Preqin or you have to use publicly available information from the big public LPs. Calpers would be the biggest but try other large public pension funds too. Someone here might have a list if you're lucky.
http://www.calstrs.com/private-equity-portfolio-performance http://www.calpers.ca.gov/index.jsp?bc=/investments/assets/equities/pe/… http://www.sib.wa.gov/financial/invrep_ir.asp http://www.nmerb.org/Investments.html
That should get you started.
Thanks all!
Megafunds performance? (Originally Posted: 04/24/2013)
Does anyone have data on how the various megafunds have done in their past one or two funds? (Apollo, Bain, BX, Carlyle, KKR, TPG, etc.).
Also, any info on current fundraising status/target?
Pretty much every fund on that list returned between (2%) and +5% (i.e. terrible performance), other than Apollo.
how do you find out this type of information?
Just wrote a huge report on this, sorry not willing to share.
You can find all historical fund performance at the back of their quarterly press releases and filings (fund tables). As for new fundraising, they provide color in the earnings transcripts/presentations.
For some smaller funds that are just starting fundraising, talk to their IR.
cool, you're the man
Try this
http://www.calpers.ca.gov/index.jsp?bc=/investments/assets/equities/pe/…
You can't really compare funds across firms unless they're in the same vintage (i.e. an '06 fund is probably going to be much shittier than an '04 fund). Also, anything later than 2008 probably hasn't fully exited so the IRRs aren't meaningful.
These are for their main buyout funds (no Europe, Asia, or industry/strategy specific funds).
2004: Bain Capital VIII (11.2%) Hellman & Friedman V (12%)
2005: Carlyle Partners IV (13.6%) Warburg Pincus IX (10.4%)
2006: Blackstone Capital Partners V (2.0%) KKR Fund 2006 (6.9%) Bain Capital IV (6.2%) TPG Partners V (-3.0%) Apollo Investment Fund IV (7.4%) First Reserve XI (2.9%)
2007: Carlyle Partners V (9.5%) Warburg Pincus X (5.5%) Helman & Friedman VI (7.0%)
2008: Bain Capital X (-0.3%) Apollo Investment Fund VII (21.8%) TPG Partners VI (6.0%) First Reserve XII (0.4%)
Not sure about fundraising or who's in the market, but I've heard lots of the megafunds are struggling to hit their targets (except maybe Apollo).
Can confirm that fundraising has been rough for megafunds this cycle.
Thanks this was really helpful! Where'd you get this info?
Do you have any info on Silver Lake, General Atlantic, or Cerberus?
Probably Preqin or the Calpers website
Silverlake 2004: 9.8% 2007: 17.3%
Cerberus 2006: 8.0%
I'm not familiar with General Atlantic but I don't think they raise "funds". I believe they have a more long term hedge fund type capital commitment
Is there a report like preqin for hedge fund returns?
Can't access firm's fund performance on website - other ways? (Originally Posted: 02/26/2009)
I'm interviewing with a PERE firm right now. The "Fund Performance" section of their website is locked - you need to submit personal info and fill in a questionnaire to prove you are an accredited investor before they let you in. Ostensibly I'm not able to do that. I would like to find out how their funds have been doing and if they're known in the PERE industry.
I've googled them to death but cannot find any information whatsoever except a few details about previous deals/a fund closing recently. They are a mid-sized firm based in Conneticut with a small office in Asia.
What other ways are there that I can find out more about them?
Would it be appropriate to ask about fund performance in the interview since I have such trouble finding it?
Any help will be appreciated. If you are familiar with small to mid size firms in PERE and think you might know this firm, please don't hesitate to PM me.
Check Calpers
or preqin....you can probably call and try to get a trial subscription for real estate funds
Thanks for your responses. I've looked thru Calpers but they're not on there. I'm trying to get trial access on Preqin.
Would it be a good idea to ask about the fund performance in the interview?
Anyone else know any other resources?
anyone?
Fund Returns - Rolling List of Published IRRs (Originally Posted: 04/20/2015)
Transparency in private equity is a good thing, so I thought it would be useful to get a thread going that serves as a rolling list of published fund by fund IRRs. So every time you see a state pension fund or other source that posts fund by fund returns, post a link here, that way all won't have to search around for the most up to date lists.
I'll start with a few I found when looking tonight:
CalPERS: https://www.calpers.ca.gov/index.jsp?bc=/investments/assets/equities/pe…
Washington State Investment Board: http://www.sib.wa.gov/financial/invrep_ir.asp?pre=%2Ffinancial%2Fpdfs%2…
You do realize there are databases that track and aggregate these stats, right? Some of these resources are also free.
In my experience even preqin (standard for funds, managers and LPs intelligence) contains very unreliable information which at best outdated and more likely outright wrong.
And you say so easily that there are even free databases... Care to share please?
its always best to see it from the original source
Need help finding avg PE fund returns (vintage 05-09) for various industries... (Originally Posted: 06/27/2014)
I'm looking for average returns for PE funds (vintage 2005-2009) for various industries.
The catch: I can't pay for any database access. Let me know if you are aware of any sources for this type of information.
Thanks in advance!
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