Strong Distribution Based on 2012 Portfolio Successes
TORONTO, September 18, 2012 — Kensington Capital Advisors Inc. is pleased to announce a distribution to Unitholders of the Kensington Global Private Equity Fund of $1.56 per Unit, for a total distribution of approximately $4.17 million. The distribution will be paid on October 10, 2012 to Unitholders of record on September 28, 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 5-year track record of creating value for Unitholders.
“We are delighted to announce another distribution of profits,” stated Rick Nathan, 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 September 28, 2012. Individual Unitholders should contact their Investment Advisors to enrol in the DRIP via the FundSERV system. The distribution payable on the Class A Units, Class E Units, Class F Units and the Class G Units is identical, at $1.56 per Unit.
The Kensington Global Private Equity Fund holds a diversified portfolio of investments in private companies, many of which have increased in value since the date of the initial investment. These gains are realized over time, typically after growing the business through a 3 to 5-year hold period, leading to a sale of the company or an IPO. The Fund’s policy is to distribute profits from these gains after they are realized, while the original capital gets redeployed into new investments. The Fund’s current portfolio consists of investments made throughout the past 5 years at various levels of progress, including several additional companies preparing for possible sale in the year ahead.
“This is an outstanding time to be investing in the private markets,” added 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 world-class private equity investments, including hard-to-access private equity funds and direct investments in private companies. Traditionally, investments in private equity have only been available to large institutional investors who could meet very high minimum investment thresholds. The Kensington Global Private Equity Fund was established in 2007 to make these investment opportunities available to the broader investing public. Accredited investors may purchase Units of the Fund through their investment advisors via the FundSERV system.
Kensington, founded in 1996 is a leading Canadian investor in alternative investments. Kensington is best known for its private equity investment programs, having committed over $550 million since 2002, and is also an active investor in infrastructure assets and hedge funds. Institutional investors such as pension funds and professional asset managers, as well as high net-worth individuals and retail investors, hold Kensington funds. For more information on Kensington and current offerings, please visit www.kcpl.ca.
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