Kensington Capital Advisors has announced a distribution to unitholders of the Kensington Global Private Equity Fund of USD1.56 per unit, for a total distribution of approximately USD4.17m.
The distribution will be paid on 10 October 2012 to unitholders of record on 28 September 2012.
The current distribution per unit is approximately 2.3 times the amount of the fund’s 2011 payout, reflecting strong growth in the realized gains achieved within the Kensington private equity portfolio. The fund, formed in 2007 to provide individual and institutional investors with better access to private equity, now has a five-year track record of creating value for unitholders.
"We are delighted to announce another distribution of profits," says Rick Nathan (pictured), a Kensington managing director. "Our portfolio of private investments has now hit its full stride, with a steady flow of exits as our companies successfully execute their strategies for growth. At Kensington, we believe that all investors should have access to private equity – it’s no longer reserved for just the largest institutions and pension funds."
Current unitholders of the fund who wish to reinvest the distribution into additional units should ensure that they are enrolled in the fund’s distribution re-investment plan (DRIP) prior to the record date of 28 September. Individual unitholders should contact their investment advisers to enrol in the DRIP via the FundSERV system.
"This is an outstanding time to be investing in the private markets," says Nathan. "As the public markets continue to demonstrate significant uncertainty, our diversified private equity portfolios are well positioned for continued steady growth with an improving economy, historically low interest rates and a continuing flow of compelling new business opportunities."
The Kensington Global Private Equity Fund offers institutional and accredited individual investors a diversified portfolio of private equity investments, including hard-to-access private equity funds and direct investments in private companies.