It’s Bridgepoint’s 2008 vintage European large buyout vehicle that has shown the greatest IRR increase by quarter in the most recent figures from Washington State Investment Board to June 30. The data compares some 192 buyout-related vehicles, ranging from vintages 1994 to 2011.
The top ten climbers in terms of positive IRRs for Washington for the quarter included four vintages from 2008, two in 2006, two in 2005, a 2009 vintage and one fund from 2007.
Bridgepoint Europe IV LP scored the biggest leap in IRR for the period to June 30, up 54.47 percent to a 9.67 percent IRR from a 6.26 percent IRR as of March 31. Bridgepoint also featured in sixth place with its 2005 vintage Bridgepoint Europe III LP registering a 30.99 percent increase to 1.86 percent from 1.42 percent.
The second-highest climber was another 2008 vintage European offering from buyout house Nordic Capital. That firm’s Nordic Capital Fund VII LP registered a 42.76 percent increase, to a 4.24 percent IRR from a 2.97 percent IRR in March.
In third place comes the 2005 vintage Vestar Capital Partners V LP, which posted an increase of 42.06 percent to an IRR of 1.79 percent in June from 1.26 percent the previous quarter.
As of June 30, the market value of Washington’s private equity portfolio was $16.1 billion.
Washington’s top buyout performers in terms of IRR are the 2001 vintage GTCR Fund VII-A LP, which posted an IRR of 83.01 percent and 2.8x multiple, followed by the 1996 vintage Doughty Hanson Fund II LP with a 48.83 percent IRR and 2.1 x multiple. The 2001 vintage First Reserve Fund IX LP came in third place with a 48.12 percent IRR and 2.8x multiple.