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LP Scorecard: Blackstone, Warburg Pincus, Macquarie top District of Columbia IRRs

The only other exclusively buyout-focused fund in the district’s portfolio is a recent $20,000 commitment to the 2013 vintage Riverside Capital Appreciation Fund VI.

In second place in this scorecard comes another 2001 vintage fund, the growth equity-focused Warburg Pincus Private Equity VIII with an IRR of 15.3 percent and 2.26x multiple.

In third place is a younger, 2008 vintage fund with a different investment focus in the form of infrastructure. Macquarie Infrastructure Partners II posted an IRR of 10.6 percent and 1.34x multiple for the period.

Other vehicles in this top ten include a diversified fund of funds, real estate and secondaries offerings. The District of Columbia Retirement Board has a private investment portfolio of some 22 vehicles including buyout, distressed loans, diversified funds of funds, energy, growth equity, infrastructure, real estate and secondaries.

Looking at the top vehicles in terms of distributions, the 2004 vintage fund of funds Pantheon Capital Partners comes out on top, realizing $124,200 for the pension fund with an IRR of 7.1 percent and and multiple of 1.34x. This was followed by the 2005 vintage real estate fund Heitman Value Partners, with $48,731 in distributions, an IRR of 4.9 percent and and multiple of 1.27x. In third place comes The Carlyle Group’s 2007 vintage real estate offering Carlyle Realty Partners V, with an IRR and multiple of 6.9 percent and 1.24x.

Total value of the retirement fund’s private equity assets stood at $376.9 million as of Dec. 31, 2013. The fund’s actual allocation to private equity stands at 6 percent, below its 8 percent target allocation.