Vision Super expands private equity exposure
Vision Super has appointed nine new private equity managers across its domestic, US and European markets, part of a longer-term strategy to increase its exposure to quality private equity investments.
The new mandates will complement Vision’s existing private equity holdings, the total of which will eventually form 5 per cent of the fund’s overall allocation.
Its move has been motivated by a “long-term out-performance of high-quality US and European private equity managers over traditional listed markets”, according to investment manager Graeme Smith.
“Our objective in investing in private equity is to achieve returns that exceed those of listed investments by 5 per cent a year over the medium to long-term,” he said.
The new mandates are all fund-of-funds, except for an ABN AMRO investment in the single manager EMP Emerging European Convergence Fund.
In Australia, Vision has awarded mandates to Macquarie, Quay Australia Partners and ABN AMRO.
In the US, it has appointed Lexington Capital Partners, Mesirow Financial Private Equity Partners, and Montagu Newhall Global Partners.
The selected European managers are LGT Capital Partners, ABN AMRO and Adveq Private Equity Partners.
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