LP Scorecard: Even the distributions are big in Texas

Kayne Anderson Capital Advisors sits atop the leader board in both distribution percentage—distributions divided by contributed capital—as well as in absolute distributions during the year (see accompanying table). Its fifth energy fund, vintage 2009, clocked a vigorous 94.7 distribution percentage and paid out just under $25.1 million. It was also the only fund to show up on both lists. Silver Point Capital placed a distant second with Silver Point C&I Opportunity Fund III, a distressed debt fund. The 2012-vintage posted a distribution percentage of 55.5 percent. Not far behind in third place, at 53.9 percent, was Hellman & Friedman’s sixth flagship fund, Hellman & Friedman Capital Partners VI.

Coming in second place by absolute distributions was Wayzata Opportunities Fund II LP. The 2007-vintage fund from Wayzata Investment Partners produced a nearly $22.2 million payout. In third was another energy vehicle, Riverstone Global Energy & Power Fund V. Riverstone realized just under $13.9 million in returns for the the pension fund with its Fund V. Finishing almost exactly a million dollars behind that was Providence Equity Partners VI LP. Providence Equity Partners’s sixth main fund generated a shade under $12.9 million in distributions during the year.

Altogether Texas County & District Retirement System’s private equity portfolio had over $5.4 billion in committed capital and $3.4 billion in cash drawn across 154 active funds as of year-end.