The Australian Private Equity & Venture Capital Association and Cambridge Associates have entered into a partnership to provide independent Australian private equity and venture capital data to industry participants.
Under the agreement, Avcal will give its members access to aggregate Australian private equity and venture capital benchmark data and statistics.
Cambridge Associates, a provider of independent research and investment advice, has been advising institutional and private clients on alternative assets since the 1970s. The firm derives its various private equity and venture capital benchmarks from the financial information in its database of institutional quality private equity and venture capital funds.
Eugene Snyman, managing director at Cambridge Associates, says: "Independent, rigorous data and analysis are at the root of sound decision making. Accordingly, we work continuously to develop the most accurate, comprehensive data possible on private equity, venture capital and all other alternative asset classes. We are delighted to be working closely with Avcal, as we support its ongoing efforts to advance transparency in Australia’s private equity and venture capital industries."
"Avcal is absolutely committed to promoting the dissemination of robust, reliable data on private equity and venture capital in Australia," says Katherine Woodthorpe, chief executive of Avcal. "After evaluating various providers of performance statistics we were satisfied that Cambridge Associates had the necessary expertise, local knowledge and global track record to meet this objective. We’re delighted to partner with them and I am confident that this will help promote additional transparency and independent benchmarking to the benefit of all industry stakeholders."
Cambridge Associates and Avcal will begin to issue quarterly performance data which will include Australian private equity and venture capital industry returns compared to other market indices, as well as vintage year returns and aggregate portfolio company returns by industry.
Cambridge Associates has a similar relationship in the US with the National Venture Capital Association for which Cambridge Associates provides quarterly US venture capital benchmark data. In addition, Cambridge Associates has a relationship with Emerging Markets Private Equity Association to provide emerging markets private equity benchmark data.