LP Scorecard: Veritas, Advent and Blackstone bring in big returns for Idaho

In the first nine months of 2016, Public Employee Retirement System of Idaho raked in more than $115.7 million in returns. This surge was led by funds from Veritas Capital Fund ManagementAdvent International and Blackstone Group.

Veritas Capital’s fourth flagship pool led the charge, producing $11.4 million over the period. Advent closely trailed with its sixth Global Private Equity vehicle generating $11.3 million. They were also the top two funds by distribution percentage, (cash out within the time frame divided by overall cash in) with 66.6 percent and 38.4 percent distributions, respectively.

Blackstone Capital Partners V finished third for the pension system, compiling $8.6 million in profit. The fund’s 20.6 percent distribution percentage was good for fifth overall.

Another notable performance was Ascribe Opportunities Fund III. Ascribe Capital’s third primary fund generated a 26.4 percent distribution percentage and $7.1 million in straight returns.

All told, Idaho PERS’s PE portfolio has about $2.2 billion committed to 62 active funds. Those active funds have combined for $1.7 billion drawn down, with $1.3 billion cashed out as of Sept. 30, 2016.

Action Item: Download LP Scorecard table as a spreadsheet: LP Scorecard Table

Some of the potato crop harvested at the Green Thumb Farms is stored to be distilled into vodka in Fryeburg, Maine, on July 14, 2006. Photo courtesy Reuters/Brian Snyder.