Public Employee Retirement System of Idaho saw its overall private equity portfolio realize $237.6 million in the year ended September 2015, according to an analysis of its returns. Those totals received particular boosts from buyout shops Gores Group and Blackstone Group.
The leading fund by distribution percentage (cash out divided by cash in) was Gores Capital Partners III. Gores Group’s third primary buyout fund generated a 44.2 distribution percentage during the year.
Next up was Blackstone Capital Partners V. The 2006 vintage had a distribution percentage of 42.6 percent. Third in line was Cerberus Capital Management’s Cerberus Institutional Partners IV, producing a 41.7 distribution percentage.
Blackstone Capital Partners V also took the honor of being the top distributing fund in absolute terms. Blackstone’s fifth flagship vehicle returned $17.8 million for the Idaho retirement system during that 12-month stretch.
Hamilton Lane’s Co-Investment Fund II came in second in absolute distributions (and appeared fourth on the distribution percentage list), producing $16.1 million and posting a 17.1 percent IRR.
Cerberus Capital’s fourth global buyout fund Institutional Partners took the bronze in total distributions, too. The 2006 vintage generated $15.4 million for the Idaho pension.
All told, Public Employee Retirement System of Idaho’s PE portfolio has about $2.1 billion committed across 62 active funds. Those active funds combined have drawn down over $1.6 billion and returned almost $1.3 billion in realizations as of September 30, 2015.
Action Item: Download the LP Scorecard table as a spreadsheet here: http://bit.ly/1SyzZG8