Red Rocks Capital’s Global Listed Private Equity (GLPE) finished the first quarter of 2015 up 5.32 per cent, compared to 2.47 per cent for the MSCI World Index.
Strong performance from many of the larger index constituents around the world overcame the negative currency impacts of the continued strengthening of the US Dollar.
"Listed Private Equity firms had a strong quarter, outperforming global indices despite a negative impact of almost 4per cent from the stronger dollar," says Mike Trihy, GLPE Index Manager at Red Rocks Capital. "The dollar volume of US buyout deals in Q1 was the highest level since Q3 2007 and PE firms benefitted from increased portfolio valuations around the globe, with positive developments for portfolio companies in Europe, North America and Asia."
The largest contributor to index performance YTD was Chinese investment company Fosun International, which finished the quarter up 47.88 per cent after announcing a net profit increase of 24 per cent in 2014 and a new strategy of increased investment outside of China. Their largest deal of the quarter was the successful buyout of vacation operator Club Med in January for approximately USD1.1 billion. Other major contributors to GLPE performance for the quarter included the Blackstone Group, Allied Minds PLC, and Ratos AB.
