Vantage Private Equity Growth 2 (VPEG2) is a multi-manager Private Equity investment fund structured as twin Australian unit trusts (VPEG2A & VPEG2B). VPEG2 is focused on investing in professionally managed Private Equity funds that invest in businesses that are at a more mature stage of development, and in particular the Later Expansion and Buyout stages of Private Equity investment.
The Fund’s investment objective for its Investment Portfolio is to achieve attractive medium to longterm returns on Private Equity investments while keeping the volatility of the overall investment portfolio low. This is achieved by investing across a highly diversified portfolio of Private Equity assets with diversification obtained by allocating across manager, geographic region, financing stage, industry sector and vintage year.
VPEG2 has invested the majority of its Investment Portfolio into Australian based Private Equity funds who in turn are focused on investing into lower to mid-market sized companies headquartered in Australia and New Zealand, with enterprise value at initial investment of between $20m and $500m.
VPEG2 has made $51.1m1 of commitments across eight Private Equity funds and completed one coinvestment. As a result, VPEG2 has invested in 55 underlying company investments, with 16 exits completed to date. As at 30 September 2021, VPEG2’s investment commitments include; $10m to Adamantem Capital Fund 1; $8m to each of CHAMP IV, Next Capital Fund III and Odyssey Private Equity Fund 8; $6m to Allegro Fund II, $5m to Mercury Capital Fund 2, NZ$4m to Waterman Fund 3, NZ$2m to Pencarrow Bridge Fund and a $0.5m co-investment Fitzpatrick Financial Group.
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Vantage Private Equity Growth 2 Quarterly Report September 2021