CPPIB U.S. general partner Q2 2007 performance numbers
17 November 2007
Yesterday we published the Q2 results for the ever-diminishing number of Canadian GPs (“CPPIB Canadian general partner Q2 2007 performance numbers“, November 16-07) that can still count the $121.3 billion CPP Investment Board as a limited partner. Here are the U.S. results, as of June 30, 2007.
The figures that follow cover four categories: CPPIB’s commitment, paid-in-capital (which tells you how much of the fund is invested in deals and/or drawn to pay management fees) reported value, and reported value + distributions (which tells you what the notional simple return of the fund is against the paid-in-capital figure). That figure is based in large part on what the manager believes the portfolio is worth as at June 30, 2007, subject to GAAP fair value accounting. The year in the brackets reflects the year that the investment commitment was made by CPPIB. MM equals millions:
Apollo Investment Fund V (2002): $150MM, $123.1MM, $108.3MM, $376.0MM; 205.4% increase
Apollo VI (2005): $400MM, $139.8MM, $16.2MM, $46.6MM; 66.7% decrease
Blackstone Capital Partners IV (2002): $200MM, $144.2MM, $172.4MM, $388.2MM; 169.2% increase
Blackstone Capital Partners V (2005): $406.7MM, $168.4MM, $178.3MM, $198.6MM; 17.9% increase
Carlyle Venture Partners II (2002): $60MM, $60MM, $42.3MM, $64.8MM; 8.0% increase
CSFB Mid Market Opportunity Fund (2003): $140MM, $75.1MM, $67.0MM, $77.7MM; 3.5% increase
CSFB Mid Market Opportunity Fund II (2005): $300MM, $43.2MM, $36.0MM, $37.3MM; 13.7% decrease
Goldman Sachs Vintage Fund IV (2006): $200MM, $20.3MM, $0MM, $1.4MM; 93.1% decrease
Heartland Industrial Partners (2001): $150MM, $140.4MM, $58.0MM, $60.5MM; 56.9% decrease
Hellman & Friedman Capital Partners V (2004): $ 75MM, $62.2MM, $109.8MM, $118.9MM; 91.2% increase
JP Morgan Partners Global Investors (2001): $175MM, $154.9MM, $132.6MM, $214.0MM; 38.2% increase
JP Morgan Partners Global Investors (Selldown) II (2006): $317.4MM, $285.2MM, $272.6MM, $362.6MM; 27.1% increase
KKR Millenium Fund (2002): $300MM, $272.0MM, $319.7MM, $472.1MM; 73.6% increase
Lehman Brothers Venture Partners 2003 (2003): $75MM, $52.9MM, $63.7MM, $64.0MM; 21% increase
MidOcean Partners (2003): $273.1MM, $255.7MM, $76.1MM, $573.5MM; 124.3% increase
Paul Capital Holdings (2002): $81MM, $73.1MM, $38.5MM, $155.2MM; 112.3% increase
Paul Capital Holdings II (2004): $120MM, $101.8MM, $99.5MM, $215.8MM; 112.0% increase
Paul Capital Partners VII (2001): $90MM, $84.3MM, $41.3MM, $138.4MM; 64.2% increase
Paul Capital Partners VIII (2004): $100MM, $63.9MM, $58.9MM, $78.2MM; 22.4% increase
Paul Capital Top Tier II (2002): $96MM, $62.5MM, $54.7MM, $63.4MM; 1.4% increase
Paul Capital Top Tier Investments III (2005): $160MM, $31.6MM, $30.3MM, $31.2MM; 1.3% decrease
Performance Venture Capital (2005): $185MM, $36.9MM, $33.9MM, $40.6MM; 10% increase
Providence Equity Partners VI (2006): $400MM, $56MM, $53.6MM, $53.6MM; 4.3% decrease
Silver Lake Partners II (2004): $100MM, $80.4MM, $92.4MM, $113.2MM; 40.8% increase
Silver Lake Partners III (2006): $500MM; nil, nil, nil
Thomas Weisel Partners GGP II (2003): $50MM, $33.6MM, $36.8MM, $45.3MM; 34.8% increase
TPG Partners (2003): $100MM, $88.5MM, $111.3MM, $158.8MM; 79.4% increase
TPG Partners V (2006): $500MM, $139.2MM, $141.6MM, $141.6MM; 1.7% increase
Welsh, Carson, Anderson & Stowe X (2005): $200MM, $102MM, $102.2MM, $102.2MM; 0.2% increase
MRM
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