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VPEG3 Quarterly Report June 2020

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21 August 2020

VPEG3 Quarterly Report for the 3 months ending 30 June 2020

Special Points of Interest;

  • Advent Partners 2 invests in Medtech, a leading provider of Practice Management Software to over 18,000 GP, Allied Health & Specialist users across Australia and New Zealand
  • Advent also invests in Flintfox International, a global provider of Trade Revenue Management software and services for large enterprise customers
  • Mercury Capital Fund 3 acquires Bauer ANZ, Australia’s leading magazine publisher with a strong presence also across digital, books and other media across Australia and New Zealand
  • VPEG3’s Net Asset Value improves by 18.7% across the quarter due to an increase in the value of 14 underlying companies at quarter end due to earnings improvements

View or download a copy of the VPEG3 Quarterly Report June 2020

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Australian Private Equity Well Positioned to Outperform

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2 July 2020

With Australia entering its first recession in 29 years as a result of the slowing economy caused by the COVID-19 restrictions, it is timely to compare the historical performance of the Australian & New Zealand Private Equity market across all time frames, to the performance of those Private Equity funds that were established during, or otherwise invested across, previous recessionary periods.

Summary statistics provided by AVCAL & Cambridge Associates reveal that the median and upper quartile net returns from Private Equity funds formed in Australia and New Zealand, between 1997 and 2018, focused on the later expansion and buyout financing stage, in which Vantage funds invest, was 11.1% p.a. and 20.3% p.a. respectively. These robust returns demonstrate Private Equity’s ability to consistently outperform public markets as the return on the S&P ASX 200 Accumulation Index over the corresponding period was only 8.4% p.a.

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VPEG3 Quarterly Report March 2020

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14 May 2020

VPEG3 Quarterly Report for the 3 months ending 31 March 2020

Special Points of Interest;

– Next Capital Fund IV acquires TM Insight, a Supply Chain consulting and implementation service provider to clients across the food, wholesale, manufacturing and transport / logistics sectors.

– Mercury Capital Fund 3 acquires a minority shareholding in TEG, a market leading live entertainment business in Australia and New Zealand.

– Anchorage Capital Partners Fund III announces the acquisition of AHG Refrigerated Logistics, Australia’s largest fully integrated refrigerated logistics provider.

– A significant majority of VPEG3’s underlying portfolio have reported a net benefit or a low impact to their revenues as a result of the current COVID-19 operating environment

View or download a copy of the VPEG3 Quarterly Report March 2020

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Private Equity Wins on COVID-19 Testing Kits

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VPEG3’s underlying investment in Legend Corporation Pty Ltd, completed by investee Adamantem Capital Fund I during August 2019, is currently benefiting from a strong demand in volumes for tiny parts made from an Adelaide plant used to create COVID-19 testing kits.

Legend Corporation, which has manufacturing businesses across electronics, data storage equipment and semi-conductors, is experiencing a heavy uptick in demand for ceramic substrates made by its Hendon Semiconductors business, which are a component in COVID-19 testing kits.

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School ‘Attendance’ Higher With Online Learning

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VPEG3’s investment into Compass Education, within the Advent Partners 2 Portfolio, is experiencing a significant increase in the number of users of its online learning platform. Compass is the largest school data management business in the country and one of the only integrated education service providers for teachers, parents and students. Servicing over 1800 schools with more than 2 million users, Compass is facilitating the delivery of online learning tools and communications to provide effective distant learning capabilities for students around Australia as Schools nationwide have been mostly closed due to COVID-19.

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COVID-19 VPEG3 Portfolio Update

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14 April 2020

The current environment around COVID-19 and restrictions imposed by Government’s on the operations of businesses across the economy continues to evolve daily. As such, VPEG3’s management continues to monitor all underlying company investments through active discussions with VPEG3’s remaining underlying private equity fund managers on an ongoing basis. The following points provide a summary overview of the analysed impact to VPEG3’s underlying portfolio;

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Download VPEG3’s COVID-19 Portfolio Update here

Anchorage Acquires Two Major Australian Transport Companies During the First Quarter of 2020

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Anchorage Capital Partners Fund III (ACPIII) have had an active start to 2020 completing one acquisition  and announcing another during the March 2020 quarter.

During January 2020, ACPIII completed the acquisition of CF Asia Pacific (CFAP), Australia’s leading full-service rail leasing business and the fourth largest owner of assets on the Defined Interstate Rail Network.

Also During the March 2020 quarter, ACPIII announced that the Fund had entered into an agreement to acquire AHG Refrigerated Logistics, Australia’s largest fully integrated cold chain logistics provider, from ASX listed AP Eagers.

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Vantage Funds Update – COVID-19

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18 March 2020

Vantage Asset Management is closely monitoring the developing COVID-19 situation and has implemented responsible measures to ensure the health and safety of our employees, business partners, service providers, clients and investors. In addition, the protection of the value of all of Vantage’s Funds underlying investments, is one of our highest priorities.

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VPEG3 Quarterly Report December 2019

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12 February 2020

VPEG3 Quarterly Report for the 3 months ending 31 December 2019

Special Points of Interest;

– Advent Partners 2 invests in Mandoe Media, an Australian founded software provider with unique platforms in digital signage and customer engagement

– Allegro Fund III acquires the Value Retail Group, which includes iconic retail brands Best & Less and Postie (NZ)

– Mercury Capital Fund 3 invests in MessageMedia, Australasia’s largest business-to-person messaging business with international operations in the United States and the United Kingdom

– Next Capital Fund IV commences its invested program with two new investments completed, Silver Chef and InterHealthCare

– VPEG3’s portfolio expands to 27 underlying company investments, operating across a broad range of industry sectors

View or download a copy of the VPEG3 Quarterly Report December 2019

Next Capital Fund IV, Completes the Investment into Supply Chain Consulting Business, TM Insight

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On 23 December 2019, Next Capital Fund IV annouced to Investors that they had come to an agreement to acquire supply chain consulting business, TM Insight (TMI).

TMI is a privately owned company established in 2010 for the purpose of providing supply chain consulting and implementation services to address growing customer needs in fast moving and evolving supply chain solutions.

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