The $21 billion UniSuper expanded its private equity portfolio by allocating 10 mandates in the course of 2008.
Working with international private equity advisor Altius Associates and domestic advisor Wilshire Australia, UniSuper developed “detailed investment strategies for its private equity portfolio” that included appointing 10 funds, David St John, chief investment officer of the fund, said.
In aggregate, $515 million was committed to 10 funds, and this capital would be allocated to the funds in the next few years, St John said.
For its international private equity portfolio, UniSuper has made commitments to the following funds:
Advent International VI;
Madison Dearborn VI;
Riverside Capital Appreciation Fund V;
Great Hill Equity Partners IV;
CVC European Private Equity Partners V; and
Quantum Energy Partners V.
The Australian managers who secured mandates were Wolsely Partners, for the Wolsely Partners II fund, and Catalyst Investment Managers, for the Catalyst Buyout Fund II.
At September 30, UniSuper’s domestic private equity holdings were $400 million, or 1.8 per cent of assets, and international holdings at $600 million, or 2.5 per cent.