In first-half 2016, Canada Pension Plan Investment Board’s private equity portfolio realized more than $1.6 billion in distributions, while adding 17 new fund commitments.
Advent International’s flagship from 2008 brought the most to CPPIB’s bottom line over those six months. Advent International GPE VI generated $91.8 million and boasts one of the highest investment multiples (2.1x) in the portfolio.
Two primary funds from TPG Capital came in second and third. The 2006-vintage TPG Partners V produced $78.1 million, while its successor, 2008-vintage Fund VI cashed out $70.5 billion.
TowerBrook Capital Partners led the way in distribution percentage (cash out divided by cash in). Its Investors Fund IV from 2013 received its first round of profits and turned out a 43.1 percent distribution.
Taking second place was Actera Partners’ debut vehicle. The firm, dedicated to investments in Turkey, saw its inaugural fund generate a 42.7 distribution percentage. Chequers Capital, a Paris shop focused primarily on European buyouts, came in third. Chequers Capital XVI churned out a 38.3 distribution percentage.
The aforementioned fund from Advent appeared on both top-five lists, as did Cinven’s 2006-vintage Fund IV.
All told, Canada Pension Plan Investment Board’s PE portfolio has more than $48.7 billion committed to 198 active funds. Those active funds have combined for about $33 billion drawn down, with $26.7 billion cashed out as of June 30, 2016.
Action Item: Download LP Scorecard table as a spreadsheet: http://bit.ly/2hWh2NM