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LP Scorecard: The Best In NY Police’s 2006 Crop

Capital Partners Private Equity Income Fund LP comes out top of this scorecard with a 18.9 percent IRR and 1.53x multiple. That fund was followed by Arsenal Capital Partners II LP in second place with a 15.1 percent IRR and 1.58x multiple. GF Capital Private Equity Fund LP came in third place with a 14.9 percent IRR and 1.4x multiple. These are all higher than the overall portfolio’s IRR of 9.5 percent and 1.31x for the period.

Other vehicles the state pension fund committed to in 2006 include a mix of European, U.S. and global funds such as Apollo Investment Fund VI LP; Ares Corporate Opportunities Fund II LP; Catterton Partners VI LP; MidOcean Partners III LP; Permira IV LP and The Fourth Cinven Fund.

Those funds that didn’t perform so well from this vintage include Terra Firma Capital Partners III LP, which posted a -21.5 percent IRR and 0.53x multiple, and Atlantic Equity Partners IV LP, which posted a -14.8 percent IRR and 0.54x multiple for the period, according to New York City Police Pension Fund.

Top quartile IRR and multiple for the entire portfolio for the period stood at 14.9 percent and 1.4x; bottom quartile was -0.65 percent and 0.9x and median was 7.6 percent and 1.18x. For the 2006 vintage funds, top quartile IRR stood at 11.4 percent and 1.4x; bottom quartile was -1.3 percent and 0.9x and median was 6.5 percent and 1.26x.

New York City Police Pension Fund is committed to some 149 private equity funds (including buyout, co-investment, energy, growth, secondaries and special situations) with a total value of $3 billion as of June 30, 2012. Prominent buyout names in the portfolio include Apollo Global Management; The Blackstone Group; BC Partners; Bridgepoint; Comvest Partners; CVC Capital Partners; First Reserve; Trident; Welsh, Carson, Anderson & Stowe and Warburg Pincus.

Angela Sormani is a special correspondent for Buyouts in London.

10. Apollo Investment Fund VI LP

Commitment: $45 million

Multiple: 1.37x

IRR: 7.5 percent

 

9. Avista Capital Partners LP

Commitment: $20 million

Multiple: 1.39x

IRR: 8 percent

 

8. Falconhead Capital Partners II LP

Commitment: $15 million

Multiple: 1.3x

IRR: 8.1 percent

 

7. NB Co-Investment Partners LP

Commitment: $60 million

Multiple: 1.31x

IRR: 8.2 percent

 

6. Catterton Partners VI LP

Commitment: $20 million

Multiple: 1.54x

IRR: 11.4 percent

 

5. CCMP Capital Investors II LP

Commitment: $20 million

Multiple: 1.37x

IRR: 11.5 percent

 

4. Ares Corporate Opportunities Fund II LP

Commitment: $15 million

Multiple: 1.74x

IRR: 14.1 percent

 

3. GF Capital Private Equity Fund LP

Commitment: $10 million

Multiple: 1.4x

IRR: 14.9 percent

 

2. Arsenal Capital Partners II LP

Commitment: $10 million

Multiple: 1.58x

IRR: 15.1 percent

 

1. Capital Partners Private Equity Income Fund LP

Commitment: $15 million

Multiple: 1.53x

IRR: 18.9 percent