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LP Scorecard: Overseas, Global funds lead UTIMCO 2015

University of Texas/Texas A&M Investment Management Co received more than $471.6 million in distributions from private equity funds from 2015. That year, the pension fund made its largest commitment to PE on record.

Half that distribution ($237.3 million) came from Asian and South Asian funds.

All told, UTIMCO in 2015 committed more than $2.8 billion to PE funds worldwide, including buyouts, growth equity, venture, energy opportunities and real estate. It has contributed $1.8 billion of that commitment, or 63 percent, as of May 31, 2018.

The $471.6 million in distributions produced a median IRR of 11.9 percent. Six of the top 10 performing funds by IRR were either global or overseas funds.

Top performers

Leading in net IRR was Equis Asia Fund II at 46.11 percent. The fund received a commitment of $200 million, UTIMCO’s largest commitment of the year. Of that, $81.9 million has been drawn down and $134.6 million in capital returned.

Second was another fund with a net IRR over 40: Kerogen Energy Fund, with 41.31%. UTIMCO contributed $49.6 million of its $100 million commitment to the fund and received $4.9 million in distribution.

The top performing U.S. fund by net IRR was ARCH Venture Fund VIII Overage LP, with 23.2 percent. Of the $40 million commitment, $33.8 million has been drawn down. UTIMCO has yet to receive distributed capital.

All available numbers for UTIMCO go back to 1995. Since then, UTIMCO has received $12.1 billion in capital distributions from $18.9 billion in commitments across all private equity funds.