From April 1, 2015 to March 31, 2016, Oregon Public Employees Retirement Fund’s private equity portfolio realized $3.7 billion – a bounty of returns led by Oak Hill Capital Partners and Kohlberg Kravis Roberts & Co.
Oak Hill Capital Partners III was the star of the twelve-month time frame, heading both overall distributions and distribution percentage (cash out divided by cash in). The 2007-vintage returned $232.4 million or 67.6 percent of its contributed capital.
Following in absolute distributions, KKR’s 2006 flagship returned $229.5 million. TPG Capital’s sixth primary fund finished in third, generating $188 million. Also notable, KKR’s Millennium Fund is still chugging along and cranked out $171.3 million. KKR is the only firm to have multiple funds in either top five list.
In terms of percentage, KSL Capital Partners Supplemental II took the silver. KSL Capital, a firm that specializes in travel and leisure businesses, saw its vehicle from 2009 produce a distribution of 65.4 percent and a 24.9 percent IRR.
OrbiMed, an investment firm focused on healthcare, biopharmaceuticals and medical devices, came in third with the youngest fund to make the lists. OrbiMed Private Investments V, a 2013 vintage, manufactured a 62 percent distribution.
All told, OPERF’s PE portfolio has about $39.2 billion committed across 328 active funds. Those active funds have combined to draw down more than $35.1 billion and returned nearly $39.8 billion in cash out as of March 31, 2016.
Action Item: Download LP Scorecard table as a spreadsheet: http://bit.ly/2cuHltp