The Nebraska Investment Council harvests big returns for the state.
The overall pension reaps an IRR of 11.1 percent. Overall, CVC Capital Partners, Wayzata Investment Partners and AresManagement boast the highest grossing funds from the active private equity portfolio.
In terms of pure returns, CVC’s fifth European fund from 2008 has been the most fruitful for Nebraska, bringing in $37.4 million. Wayzata’s vintage-2007 Opportunity Fund II produced $30.1 million. Trailing just behind in third place was another distressed-debt vehicle, Ares Corporate Opportunities Fund III, generating $29.4 million.
Younger funds took the lead by internal rate of return. Quantum Energy Partners’ sixth flagship, a 2014 vintage, has a staggering IRR of 50.9 percent. Bridgepoint Capital’s fifth European fund from 2016 was second by IRR, producing 25.5 percent.
Ares Corporate Opportunities Fund III also came in third by IRR. It was the only fund to appear on both top-5 lists and notably had the highest investment multiple as well.
All told, Nebraska Investment Council’s PE portfolio, inclusive of venture capital, secondary and fund-of-funds, has about $1.3 billion committed to 48 active funds. Those active funds have combined for $920.3 million drawn down, with $617.1 million cashed out as of June 30, 2017.
Action Item: Download LP Scorecard table as a spreadsheet: LP Scorecard Table