The New York City Employees’ Retirement System, the largest pension for municipal public employees in the United States, realized $479.7 million in the first six months of 2015, with funds from Vista Equity Partners and Leeds Equity Partners spearheading the charge.
Among buyout funds, the 2011-vintage Vista Equity Partners IV added the most to the Big Apple pension’s bank account in the six-month time frame. Vista’s fourth buyout fund distributed $33.4 million to NYCERS, or more than a third of the $93.9 million it has drawn down to date. It also produced a 21.1 percent IRR.
Next up was Leeds Equity Partners, with its fifth primary vehicle. The 2008-vintage generated over $25.6 million in the first six months of 2015, or more than half of the $49.5 million it has drawn down to date.
Avista Capital Partners took the bronze in absolute distribution amount. Avista’s sophomore fund returned a shade over $20 million to the retirement system. It has drawn down $88.1 million to date.
Leeds Equity Partners V was the leading fund by distribution percentage (distributions as a percent of contributed capital), with a 51.8 distribution percentage. Nautic Partners’ sixth flagship finished just behind at 49.2 percent. Middle market-focused Snow Phipps came in third. Snow Phipps II produced a 43.1 distribution percentage.
All told, NYCERS’ PE portfolio has committed about $7 billion across 144 active funds. Those active funds combined have drawn down $6 billion and returned $4.3 billion in realizations as of June 30, 2015.
Action Item: Download the LP Scorecard table as a spreadsheet here: http://bit.ly/1RfEBQE