Red Rocks Capital’s Global Listed Private Equity (GLPE) finished the second quarter of 2015 up 5.59 per cent, compared to 0.47 per cent for the MSCI World Index.
For the first two quarters of 2015, the GLPE index is up 11.20 per cent, compared to 2.97 per cent for the MSCI World Index, as strong performance from near-record exit activities from index constituents in Europe and North America overcame both continued Euro and Greece currency concerns as well as negative currency impacts of the a strong US Dollar.
"Listed Private Equity firms had a very strong quarter and continue to outpace global indices year-to-date," says Mike Trihy (pictured), GLPE Index Manager at Red Rocks Capital. "During the first half of 2015, worldwide M&A was at its highest level since 2007, and many private equity firms capitalised on robust M&A and IPO markets with profitable exits of their portfolio companies."
The largest contributor to index performance during the second quarter was South African listed private equity firm Brait (BAT SJ EQUITY), finishing the quarter up over 47 per cent after announcing NAV growth of 141.4 per cent for its fiscal year. Brait has completed several additional major acquisitions including the USD1.2 billion buyout of UK retailer New Look and the purchase of a majority stake in health club chain Virgin Active. Other significant contributors to GLPE performance for the quarter included: 3i Group PLC (III LN EQUITY) and Fosun International (656 HK EQUITY).
