What are you looking for?
We invest in private equity funds across North America and Asia Pacific, with a bias towards lower mid-market buyouts. The portfolio provides attractive diversification, comprising 82 funds managed by 46 experienced managers, providing access to more than 600 underlying companies operating across a range of sectors.
The qualities we look for:
Successful track record
Stable team
Expertise in creating value through cycles
Alignment of interest
Portfolio value
£940.9m
NAV
32%
Strategic asset allocation
25-35%
As at 31 March 2026.
Performance data
Annualised Return as at 31 March 2026
4.9%
Over 1 year
3.1%
Over 3 years
11.4%
Over 5 years
13.1%
Over 10 years
Significant portfolio investments
De Cheng funds
First Invested 2015
Value£76.9m
Axiom Asia funds
First Invested 2012
Value£69.9m
HighVista funds
First Invested 2013
Value£67.7m
Unicorn funds
First Invested 2018
Value£41.8m
Vance Street funds
First Invested 2021
Value£32.9m
Asia Alternatives funds
First Invested 2012
Value£32.5m
Ironbridge funds
First Invested 2016
Value£30.3m
American Industrial partners
First Invested 2024
Value£28.9m
Stonepeak funds
First Invested 2015
Value£28.5m
Transom funds
First Invested 2017
Value£26.9m
Value£504.6m
Value£940.9m
Geographic
distribution
As at 31 March 2026
- North America 62%
- Asia 38%
Strategy
distribution
As at 31 March 2026
- North America buyout 54%
- North America fund of funds 6%
- North America other 2%
- Asia venture and growth 23%
- Asia fund of funds 15%
Investments in focus
