Return to search

LP Scorecard: Warburg Pincus tops buyout distributions for New Jersey

That fund has so far returned some $261.7 million to investors and records a multiple of 1.69x for the period. Warburg Pincus also features in fifth place in this scorecard with its 2007 vintage Warburg Pincus Private Equity X fund, which recorded distributions of $144.9 million and a multiple of 1.19x.

Distressed debt vehicles take the second and third spots. The 2007 vintage Avenue Special Situations Fund V has returned $261.5 million to investors and has so far generated a multiple of 1.33x. Centerbridge Capital Partners recorded distributions of $152.4 million and a multiple of 1.64x for the period. That fund is a 2006 vintage.

New Jersey has published return data for some 85 buyout-related investment vehicles of vintages 2005 and younger. The fund types featuring in this top ten include large buyout, domestic mid-market buyout, distressed debt, mezzanine and international funds. 

Looking at New Jersey’s top performers in terms of multiple, the 2007 vintage Vista Equity Partners Fund III takes the top spot with a 2.43x multiple, followed by Warburg Pincus’s 2001 vintage Warburg Pincus Private Equity VIII with a 2.21x multiple, and Onex Partners II 2006 vintage with a 1.85x multiple.

The $75.3 billion New Jersey state pension managed private equity assets of $6 billion as of September 30, 2013 with a target allocation of 10.5 percent and an actual allocation of 7.8 percent for the period.

The state pension fund is currently in the process of selecting a chief investment officer and recently announced it would be scaling back its target allocations to buyout and venture capital funds by 1.5 percent, according to recent Buyouts reports.