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LP Scorecard: Wingate Partners is biggest climber for UTIMCO

Wingate Partners 2007 vintage scores the biggest leap in IRR for University of Texas Investment Management Co, according to a comparison of performance data for the periods August 2012 to August 2013. The data compares some 178 buyout-related vehicles with vintages ranging from 1996 to 2011.

Wingate Partners IV LP, a 2007 vintage, jumped 1,165.71 percent to an IRR of 4.43 percent as of August 31, 2013 from an IRR of 0.35 percent as of August 31, 2012. This top ten is made up of three 2007 vintages, two 2008 vintages, two 2010 vehicles, a 2006 vehicle, a 2009 fund and one 2011 vintage.

In second place comes the 2011 vintage Centerbridge Capital Partners II LP, which was up 523.53 percent to an IRR of 9.54 percent in 2013 from 1.53 percent in 2012.

This was followed by the 2008 vintage TPG Partners VI LP which leapt 206.32 percent to 7.75 percent in 2013 from 2.53 percent in 2012.

Global distressed investment vehicles from Varde featured twice in this top ten with the 2007 vintage Varde Fund VIII LP taking sixth place, up 84.14 percent to a 4.18 percent IRR in 2013 from a 2.27 percent IRR in 2012.

Varde’s 2010 vintage Varde Fund X LP followed its predecessor in seventh place, up 77.36 percent to 11.28 percent in 2013 from 6.36 percent in 2012.

Looking at UTIMCO’s buyout-related vehicles in order of top IRR performance, Cortec Groups 2012 vintage Cortec Group Fund V (Parallel) LP comes in first place with an IRR of 63.46 percent, followed by the 2005 vintage OCM/GFI Power Opportunities Fund II LP with an IRR of 58.56 percent, and EnCap Energy Infrastructure Fund LP’s 2012 vintage in third place with an IRR of 56.57 percent. The 2008 vintage EnCap Energy Capital Fund IV-B LP followed in fourth place with a 50.52 percent IRR.

UTIMCO began investing in private equity in December 1982. Those investments have generated an IRR of 11.09% since inception of the investment period. UTIMCO is the primary investment arm of the University of Texas A&M Systems. As of October 31, 2103, it managed more than $30.8 billion in endowments and operational funds.